Should read "you owe the principle balance of the remaining payments + residual + sales tax on the residual"... they don't make you pay the interest on the remaining payments if you buy out early.

If you just pay the payments and turn it in, you do pay the interest.

Just a quick kudo to all, for this thread! Very informative and interesting and, now I understand some of the arith and jargon.

I have never leased a car: had the luxury of driving Co.Cars for 28 of my 30 yr career. Any car I owned along the way was purchased cash...still do that.

I understand the econ of using/tying up that cash vs. some investment of the cash, but for me, having no payments to anyone for anything is a personal foilble. With no write off and not a huge desire to have a diff. ride every 3 yrs., the outright cash buy works for us for the past several years.

NEway, an outstanding thread, imo!
Thanks, Gang. Ol'UncMotor

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Ol'UncleMotor
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Dad just finds buying the car in the first place makes it a lot easier to sell, that and the fact that he rotates his cars every 6-7 months makes this technique quite handy.

Yep I certinally appreciate it. We have always bought as well but the lease thing came up as a side point from the dealer. Needless to say the complicated nature of the lease program and the fact that it wouldn't be a tax thing gave support to a decision we already made.That is to buy. Very very informative information non the less though. Thanks again. Looks like the CEO is buying herself a 2006 530i. order goes in tomorrow. Any additional advice is welcome.

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"What you hear in a great jazz band is the sound of democracy. “The jazz band works best when participation is shaped by intelligent communication.”
Harmony happens whenever different parts get to form a whole by means of congruity, concord, symetry, consistency, conformity, correspondence, agreement, accord, unity, consonance…….

lease vs buy? - it all starts with how many miles are you going to travel in a year - if you are like me, it is buy, because I love to drive - and I LOVE driving my X5 - so much that since I picked it up in July, I've driven 17K miles in it - I can't afford a lease!

I'm buying a new X5 in Feb for an April Spartanburg pickup - I just hope I can get an extended 4yr/100K warranty - I'll eat up 50K within 2 years!

What everyone has said here has to help your decision making, but only you know what your driving situation is - either way , best of luck with your X5

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Mark _______________________________
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Another huge plus if Leasing--If you get a "Lemon" you can give it back at the end of the lease without worrying about anything. I leased my X5 for 39 months with the intent to keep it if it is "solid" at the end of the lease.

If you own it and try to trade it in you could have a hard time (or get less $$ for trade-in) if there are issues with it.

Also--I live in Michigan (snow belt) and have an increased chance of an accident during the winter months. Try to sell a premium vehicle that's been in an accident... Don't have to worry about it if you lease. Just another risk to think about.

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Thanks. We are ordering the 530i this afternoon. Alpine white with black interior. I'll post pictures as soon as I can figure out how to do it. Every time I try it dosn't work.

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"What you hear in a great jazz band is the sound of democracy. “The jazz band works best when participation is shaped by intelligent communication.”
Harmony happens whenever different parts get to form a whole by means of congruity, concord, symetry, consistency, conformity, correspondence, agreement, accord, unity, consonance…….

YOu can mod...you just have to take it all off and sell when done.