leasing not good value ?

[320]

see if you can find error in my calculations as i usually lease but now looking to buy as lease seems "expensive". the lease money factor on X5 equates to 6.5% for 2008 and i can obtain loan for for 6.5% also.

lease is $750 bank fee and $350 turn in fee (if you don't re-lease). buy has no fee.

in 3 years residual on lease is 60% and if you buy and "sell" car in 3 years trade in value is around 60%.

lease payments are basically same as taking out a 7.5 year loan so in 3 years even with no down payment on either you are basically at the same residual or loan balance and monthly payments would be same.

the only lease advantage i see if that you are certain in 3 years you can walk away relatively pain free - whereas if you buy you may need to negociate on trade in value or sell it yourself.

leasing was good when money factor was low but now it seems buying is a better value and gives more options....comments ?