I am here to ask the experts! I currently have a 2014 Porsche Cayenne GTS (quick value shows around 34-35k) that i own but am looking to get in to a car with a little more technology, safety but still fun to drive. I am struggling with whether to lease or buy a new x3 m40i (most likely or alternatively x5m50i). Not so much needing advice on which BMW but more on whether it makes more sense to buy or lease. I generally drive my cars around 5 years but with this market leases are really bad but i also realize depreciation on a new car where you are paying MSRP or very close to it doesn’t make great sense either.
Do i suck it up and pay a little extra for a lease (no money down), or buy a new vehicle for a lower payments (60month loan) after trading in my Porsche and eating the depreciation over the first few years. I’ve generally bought used cars that are around 2 years old to avoid this but in this market a used car is basically out.
I’ve leased before so i understand the restrictions but just looking for some advice
That i do know, even working with one of the broker’s here to get a fair price, they are still so much higher than i am used to and sadly i don’t see them getting better in the near term. I’d add I’m also interested in taking advantage of the used car market given the value of my Porsche cayenne GTS.
The used car market is so inflated that it’s better to get a new one at a slight discount. Some dealers are trying to charge MSRP or even above for used 2021 models. Yesterday, someone tried to convince me that a 2021 CPO BMW X5 45e with 15K miles and asking price of 80K (original MSRP) is better than getting a new 2022 model that I can build for 74K and get a 7500 credit plus loyalty and OL.
There was an unprecedented BMW bonanza in early COVID when everyone thought demand would fall off a cliff. If you were happy enough with the Cayenne to watch that go by, why jump into BMW during an unprecedented low point in their leasing appeal?
Unless there’s anything major wrong with your Cayenne, it makes most sense to wait.
Nothing wrong, just looking now because in 10,000 miles it will. Need new tires and new rear brake pads and just the overall feeling of having an 8 year old high performance suv. Luckily it’s a naturally aspirated v8 so no turbo trouble and it’s been quite reliable to this point but I’m sure that doesn’t last forever (or maybe it does).
I could probably wait it out but I just don’t want to look 12 months from now and deals are still lacking and the used market has dropped a bit.
