Prepayment would allow alternate earning on cash flow over time, but yeah… Minimal hit. I hear you.
Appreciate your conversation. Sorry if I came off prickly, just evaluating. Thanks for things to think about!
Would you consider one-pay?
Not in a position to do that right now unfortunately.
Take your time and really think it through. Use a trusted friend or family member as a sounding board. Someone you’re comfortable sharing your personal financial situation and goals with, and whether this idea conflicts with those goals.
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Good point Max about financial situation…my personal rule was I would never buy a car over say 75K if I couldn’t easily write a check for it…people that are buying 100K+ cars without a check are signing up for large mortgage like payments…and probably also have large mortgage payments…so should have plenty of emergency liquidity on hand…but this is America where average Joe can’t cover a $1000 emergency. I’m conservative tho! Haha!
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Yeah, I get that point from both of yall. Respect you saying it. It’s more a 2 month situation for me (just paid a tonnnn of house improvements) than the overlevered nightmare. I could cash pay it in about 5 or 6 months (not that I necessarily would). Thanks again all for the things to think about.
Good conversation and I get what you are saying–when you want a car you want a car!
For reference, people with iX’s are getting trade-in offers $35k below MSRP like 4-5 months into ownership. My upcoming iX 3 year lease is around $35k total, so I’ll pay for the same depreciation over 3 years that some people are facing with in less than 6 months.
i7 has a higher sticker and is a sedan not an SUV, so I’d wager less demand so it’s not hard to say if you pay $150k, within 6 months you’ve likely easily lost $50k on the car, not even talking about 3 years in. I would wager it would depreciate more than $20k in the additional 2.5 years of lease ownership.
Just see above one of these sold at Manheim for $105k.
I know the depreciation curve flattens after awhile but for EV’s I hesitate to know what things will be like in a few years, but if they are depreciating that quickly there’s plenty of room to keep going down I think.
With that said the other problem is the lease is not that great, so it’s a rock and a hard place, I get it. I’d talk with IAC and see what they can do.
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Gently speaking, you are about to make a really strange financial decision here. I can see it coming, I don’t think anyone is going to be able to talk you off the ledge.
You’re overvaluing something here, your focus on an EV, your 7 series obsession, something is pulling you down this path and none of us is going to change your mind.
I personally think your choice of car is lacking and your financial decision making is not great here.
I talk over things that I get really into, with people who won’t share my mindset on it. If I still feel the way I do after talking it over, I pull the trigger. Half the time, I gain a different perpective than I had going in, when there was nothing in my head besides my enthusiasm. I’m not aiming to be harsh, just trying be that dissenting voice for you to consider.
I’d go with an S580, Etron GTRS, Taycan, or even a 911. I think you can get a next to new 911 turbo S for the same $150k. I see one for sale near me for that price. I would never choose any 7 series over 911 turbo s, most else equal. Another compelling EV would be the new Lotus Eletre. 900hp, ultra high quality interior, and rave reviews.
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Hey now, don’t sell me short. I slept on it and abandoned the car. Time to consider next option.
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At my local dealership they had about 6 of these cars just sitting and couldn’t sell them. Nobody has shown much interest.
I’m not sure the value prop is there for an overpriced 7.
Maybe you should wait for the I5 coming out.
Any dealer that’s not running a museum should be dealing at least a little bit on these.
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