What are your opinions on Leasing vs Financing ?

[Sir_Dingo]

I found the BMW X5 I want. It is the last new 2006 4.8is, Black Sapphire. I have the option of leasing the vehicle or financing, let me explain my car buying history.

I have owned five new cars so far, out of four of those they were either financed or cash bought, and I would sometimes get myself into trouble by trading them in too early while I still owed on them, where as the one vehicle I leased I couldnt trade it in, or thought I couldnt, and that is the only car I kept the longest, and actually bought out at the end of the lease. For me it seems the lease is good to keep my out of trouble and not itching to trade her two years into a new car.

What are your opinions ? This will also mean the end of my sports car phase I have had an E39 M5, and a new Corvette. Every time I go to a BMW dealer though, I just wet myself at the new M5, that car really does it for me, maybe not the best looking car in the world, but getting behind that steering wheel, and no car can beat that feel, while also driving four adult's in total comfort.

[blondboinsd]

It depends on how long you want the car and how many miles you drive, I'd say those are the two big factors, take me: I like having a new car every 2 years at the most, so I lease, I could not care less about owning it and I keep it under the lease miles (or buy miles if I drive over) so leasing is perfect, it got me into a loaded X5 (55 msrp) vs financing a 330i (same payment) so it was perfect for me! Go compare the prices per month, decide how much you typically drive, and how long you want it, GL!

[r6girl]

Originally Posted by blondboinsd

It depends on how long you want the car and how many miles you drive, I'd say those are the two big factors

i agree. i tend to put a lot of miles on my cars (example: i got my '06 X3 in April and already have just under 15,000 miles on it). leasing has never really been an option for me because of this. i do get the itch to get a new vehicle more frequently (i've kept previously purchased vehicles for 5 years before trading in or selling), but i've refrained from indulging myself in this.

so, be clear (and realistic!) up front about these two factors to help you decide what to do...

[Sir_Dingo]

One thing I get worried about leasing a nice 4.8is, is what if bad stuff happens to me during the lease, and I need to dump the vehicle A.S.A.P., I would be stuck with the car until the end of the deal, ya cant break out of them early ?

[blondboinsd]

You can you always have a buy out price

[v10rick]

Originally Posted by Sir_Dingo

One thing I get worried about leasing a nice 4.8is, is what if bad stuff happens to me during the lease, and I need to dump the vehicle A.S.A.P., I would be stuck with the car until the end of the deal, ya cant break out of them early ?

BMW allows the lease to be assumed for $450 and you could use this service to locate an interested party:

http://www.leasetrader.com

or this one

http://www.swapalease.com

Originally I wanted to assume a lease, but none of the X5 4.4s were nearby. It appears that leases with a cash incentive move quickly.