Thinking of leasing bmw 3 series

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visualguy
Posts: 1281
Joined: Thu Jan 30, 2014 1:32 am

Re: Thinking of leasing bmw 3 series

Post by visualguy » Tue Jun 11, 2019 6:17 pm

am wrote:
Tue Jun 11, 2019 6:09 pm
24k total one payment for 3 yr lease of new bmw is the deal I got. Makes me feel sorry for the money for 3 yrs.

I’m torn. Part of me wants a luxury car like Tesla or bmw because I can afford it (Networth/income 98-99% for age) and it’s nice status symbol. While my boglehead side wants to get a practical car for 20-30k and drive it for at least 10 yrs. But what’s the point of all the money if your on track to have more than enough? Richest man in the cemetery :D ?
Buy/lease it because you will enjoy driving it, not because it's a "nice status symbol".

If $24K doesn't make a meaningful dent in your finances, then go for it, otherwise don't.

sk2101
Posts: 232
Joined: Sun Jun 02, 2013 4:54 pm

Re: Thinking of leasing bmw 3 series

Post by sk2101 » Tue Jun 11, 2019 6:41 pm

am wrote:
Tue Jun 11, 2019 6:09 pm
24k total one payment for 3 yr lease of new bmw is the deal I got.
Thats too much! Is that a 2020MY? Not a good time to shop for those as the new model has just been released.
I would not pay more than $300/mo for a 3-series, unless it's an M3. I have leased 2 for that price.
Also, dont do a one payment lease, although it is convenient, if the car is totaled before the lease ends you will be out of your money.

Topic Author
am
Posts: 2924
Joined: Sun Sep 30, 2007 9:55 am

Re: Thinking of leasing bmw 3 series

Post by am » Tue Jun 11, 2019 6:42 pm

To add to the story, I have a bmw that’s 12 yrs old and runs fine. Over the years some relatively minor repairs. No getting stuck. Has 110k miles. Can get 3k for it or so. Do I keep driving for 3 yrs and save 24k (cost of 3 yr bmw lease for 3 series)?

Topic Author
am
Posts: 2924
Joined: Sun Sep 30, 2007 9:55 am

Re: Thinking of leasing bmw 3 series

Post by am » Tue Jun 11, 2019 6:45 pm

sk2101 wrote:
Tue Jun 11, 2019 6:41 pm
am wrote:
Tue Jun 11, 2019 6:09 pm
24k total one payment for 3 yr lease of new bmw is the deal I got.
Thats too much! Is that a 2020MY? Not a good time to shop for those as the new model has just been released.
I would not pay more than $300/mo for a 3-series, unless it's an M3. I have leased 2 for that price.
Also, dont do a one payment lease, although it is convenient, if the car is totaled before the lease ends you will be out of your money.
The one time payment is a special option that allows you to pay it all as once like a security deposit. If car is totaled I get the money returned prorated for use.

The Price of the new 3 series which I customized was about 42k after taxes and fees and discounts. The per month lease with 4250 max security deposit was about 500/month or 24k at once,

Oakwood42
Posts: 141
Joined: Thu Dec 08, 2016 10:48 pm
Location: Philadelphia

Re: Thinking of leasing bmw 3 series

Post by Oakwood42 » Tue Jun 11, 2019 7:20 pm

Nissanzx1 wrote:
Sat Jun 01, 2019 3:16 pm
For me it just really shakes out to the math. Add up the maintenance and repairs. You will likely find that leasing is more expensive unless you have had awful luck with major mechanical problems. Newer cars have more expensive property taxes, sales taxes, and insurance so that’s all worth considering.

I’d keep your 3 series and buy one that’s 3-4 years old with cash. Keep a few grand laying for repairs and keep the old 3 around for when you need a spare car.


I personally am not plopping $4000 down on anything I don’t get to keep. It just goes against my grain as a Boglehead concerned with value.

As far as concerns with damage and dings, etc. You’ll find that as long as you enter into another lease, they are pretty forgiving... try to end the lease and then the magnifying glass comes out...
"It just goes against my grain as a Boglehead concerned with value." +1

Swansea
Posts: 637
Joined: Sat Feb 13, 2016 5:16 am

Re: Thinking of leasing bmw 3 series

Post by Swansea » Wed Jun 12, 2019 10:51 am

randomguy wrote:
Tue Jun 11, 2019 5:30 pm
Swansea wrote:
Tue Jun 11, 2019 2:58 pm
southerndoc wrote:
Tue Jun 04, 2019 12:21 pm
My 2009 535i with 162,000 miles on it (purchased brand new; ordered it):

4 high pressure fuel pumps
2 fuel pumps
2 turbo waste gates
1 water pump
2 batteries
1 transmission
1 set of fuel injectors
1 set of ignition coils
2 sets of spark plugs
4? sets of brake rotors
Hopefully your mileage was ok to cover the HPFPs, turbos, and fuel injectors which had extended warranties. I would have expected the water pump to go given the mileage.
About half that list is normal maintenance (spark plugs, water pump, batteries, brake rotors) that happens any car over 160k miles of work. It isn't like you can drive a lexus for 10 years/160k miles without replacing the battery or spark plugs. Now some cars need more parts (60k spark plugs versus 100k) along the way by design.

Now the transmission is another story:) And 4 sets of rotors is either some excessive brake use:) or poor engineering.
You have the N54 engine. Spark plug replacement schedule is every 45K, so you did a bit better than schedule.

WhiteMaxima
Posts: 1850
Joined: Thu May 19, 2016 5:04 pm

Re: Thinking of leasing bmw 3 series

Post by WhiteMaxima » Wed Jun 12, 2019 5:17 pm

visualguy wrote:
Tue Jun 11, 2019 5:02 pm
WhiteMaxima wrote:
Tue Jun 11, 2019 2:51 pm
BMW is so unreliable and expensive to maintain.
They are ranked very high overall in reliability these days, actually.

Some of their models are less reliable than others. Their 4 and 6 cylinder cars and SUVs of recent vintage are fine. The 8 cylinder ones are more challenging on that front, but they are a lot of fun. Also, the M cars tend to have more issues than the non-M cars, and they are more expensive to maintain and fix.

Regardless, leasing is absolutely the right way to go with these cars in most cases. I would buy only if the lease terms on the car were really bad, or if I wasn't going to drive the car much. If you drive 10K+ miles a year and the lease terms are reasonable, just lease. The 3 series typically has good lease terms.
Any car will have problem when get older. Somehow german car components are expensive and engineered hard to DIY. Yes, lease for a fun car. for a BH like to keep a car for life and saving for investment, I would choose a Japanese rice car and proved quality record and easy to DIY.

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