NJ. Have an executive demo 2019 530e lease coming due. Lease payment is $533. I am way under miles but buyout isnt in the money. Cant find a vehicle anywhere close to that now. Wondering with the current market, if leasing used vehicles is a thing. For me to buy the car at $41K resid, the payment would be similar to leasing a new car. SO wondering if it makes more sense to lease. Residual value would be off the steep declining curve. This topic has been visited before, but with the crazy supply-chain market now, does it make more sense? THoughts?
The consensus right now is Extend or buyout if you have a super good price.
I can’t imagine it will be better than a new car. Many banks are going to put lower/less risky residual values and with the inflated prices of used cars, that gap will be pretty big. Combined with no incentives and typically a higher MF, does not bode well for a lease. There is a probably a car out there that could make sense, but the research to find all the info is immense.
That’s not how you evaluate lease vs buy.
That’s like looking at two identical apartments and seeing that your monthly payment is higher on a mortgage vs renting one.
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I have a real hair scratcher with my leased bmw 2018 340i m sport where it seems to be cheaper than dealers by $6-7k listed price but I’m not sure I want to own it
I have a month to decide but I’m having issues finding another car id enjoy to buy or lease
Then extend until you do find one you like.
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BMW will only really let you extend 2-3 months at most unless you can show you have another car on order etc .
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I’m looking at all my alternatives: Buy my current lease at residual value, lease or buy another car. Buying my car at the PenFed rate for used cars and financing over 4 or 5 years is $250 to $300 more than my current lease payment. And we all know where new car leases are.
So, if the biggest chunk of the depreciation curve is behind me with a three year old car, then why not lease the same car again. I like the car very much. The depreciation theoretically will be less on a percentage basis. I know this car’s history. It has low miles. Tell me what I am missing?
Just extend the warranty or find a good Indy, and you should be all set.
ETA: talking about financing it.
Who are you planning on leasing it through? What lease programs have they offered you?
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Are you trying to lease an already lease car?
I think Penfed don’t offer those plans where you finance but its like a lease where at the end you still have a RV if you want to buy it.
Do any exist? I did once lease a BMW CPO, but that was more than 15 years ago
When you’re done with an auto loan you still have a car.
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Of course, but I’m not missing that.
So far what I’ve gleaned is that you’re just comparing monthly payments.
… hence my comment.
Well, that’s not true. I believe what you are saying is that you want a comparable car to a 5-series for the same bargain price. THAT is something you can’t replicate right now. You are going about this the wrong way. You can’t force a particular vehicle to fit your budget. You can either start with a payment and find what fits or start with a vehicle and pay what fits.