I’m in CA
2025 bmw x1
MSRP $45,895
MF .00220
Residual $24,324.35
15k mile lease
Just do the math.
Cash upfront + sum of 35 monthly payments = ___
Why would you spend that sum to rent a car selling for ___ and then return it with no equity and then start over again?
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I drive a lot of miles a year usually 15,000+ so I was unsure if buying or leasing would be best
Then buying would make more sense. Either way this is not a good lease deal
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You’d be better off buying this Mini, sorry I meant BMW X1.
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What part about the lease is not good to you? I’m trying to figure out if it’s something that negotiable
Ohhhhh the PM you sent me says X3, but I think this thread you created here says X1. I’m not really sure what car you’re looking at lolol. I’m just going to assume you’re looking at an X3 since the X1 will result in a sidebar or snark on LH.
The reason the “lease quote is bad” is that your dealer should be able to give much more % off MSRP. And the dealer marked up the money factor from 0.0018 to 0.0022.
The reason “leasing a gas-engine BMW is bad” is because BMW’s depreciate and BMW isn’t providing huge piles of money to make it worth your while. So when you lease a new X3 (especially with this many per-annum miles), you end up paying quite a bit of money. If you wanted to save money over time, you’d either buy a used BMW X3 now with a loan, or enter into a new X3 now with the intention of driving it much longer than 3 years.
I sent you a PM, but will paste this here as well.
Is the BMW credit is just some standard rebate on the X3? It’s not some loyalty/employment rebate you’re getting for a unique reason?
The other thing I can’t wrap my head around is how you have found a X3 xDrive30 with a MSRP of $45,895. The starting MSRP (with destination) of a 2024 X3 base RWD was $47,895.
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This is an x1 sorry for the confusion!
Eehhhhh maybe you can lease/buy a 2024 model year X3 (check out my PM)
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Thank you for the helpful advice. The issue I’m having is I drive about 20,000 miles a year and I have been buying new cars every couple of years to stay ahead of maintenance and warranty falling out, I use this for my business so it would be a business write off, but so is a purchase. I could get a Cheaper car and drive it for a while but I must say… I enjoy driving a nice car, I have an Audi right now. I’m trying to figure out what’s the best direction in this specific and annoying situation
@z0lt3c you gotta teach this guy how to roll into an endless stream of EVs to get 20,000 per annum miles but without each single car having more than 7,500 per annum miles on the lease.
LH blog post when?
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You’ll exceed any luxury car’s mileage limit for the warranty in the 3-yr period, outside of Genesis.
Do Lexuses work for you? If so, I’d honestly just purchase one of those, if you drive that much.
If you must have a German car, consider a purchase w/ an extended warranty. Not really sure what the resale value is for a mainstream German car w/ 60K miles, though.
I don’t know if what you’ve been offered is a good deal for an X1 or not, but that specific model doesn’t lease well. And if you really drive 20K/yr, have you calculated how much going 15K over the limit is going to cost?
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Audi’s Pure Protection should be a fairly low-cost way to get a 60k warranty on a lease. Not sure why @Moigen doesn’t like Audi’s any more.
@derekoh1991 knows everything about Audi Pure.
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Toyota / Lexus is really the only choice to avoid taking a complete bath, especially if you get a car popular with Uber drivers in the used car market. Anything else will pretty much kill you whether you buy or lease.
Other option is to split the “nice car” and “commuter” needs into two cars.
If you drive 20k miles a year there are probably very few vehicles that would make sense to lease. Also, the X1 just doesn’t lease well right now. You can get a more expensive X3 for less than an X1.
As some have said, if you are worried about maintence on a premium car. Maybe look at Lexus or Acura. Historically you can drive the wheels off those cars before you have any major mechanical expenses.
A 2- or 3-year-old CPO Lexus would be an excellent car for a high milage driver. 6-year unlimited milage warranty is pretty hard to beat. You could literally put 250k miles on the car within the 6-year time frame and still be under bumper-to-bumper warranty. Any new car you’ll burn through the warranty in a little over 2 years.
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They charge .25 a mile to go over I believe, I thought about a Lexus, but in that case I would just finance? Keep the car? Get a new one every 2 years? What’s the best deal here, also I own a business so this would be part of llc write off. I need a car that’s reliable and won’t break down, it’s a tool for my business, an expense if you will
Just finance it. Don’t lease it.
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I think the Audis are fine, I have purchased 3 over the last 7 years, I was trying to find something nice but not the same car, it has quirks that get to me as well
Audi’s sale is going down right now. Just an FYI
Couple options if you finance:
Trade it in slightly before it becomes ineligible to be CPO’d by the dealer and flipped on their CPO lot.
Or,
Extend the warranty. Drive it until the end of the longest OEM extended warranty (Toyota is 125k miles, check what Lexus’ is)
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