E46Fanatics - View Single Post - Who here leases vs finances? pole: your thought process behind it?
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Old 02-02-2005, 02:04 PM   #17
SST
 
Join Date: Oct 2002
Posts: 2,198
Quote:
Originally Posted by tedwright
pay cash...............if you can't afford it, then dont buy it

lol, then you dont have to have full coverage
Yeah! That's even smarter considering that you could easily get into an accident when you damage your own car and then YOU pay for it's repairs.
So, now, not only did you lose a lot of money making potential, but you will have to pay maybe thousands more to repair a car that is depreciating even faster. Now, you're in it for the price of the car and repair, all to save a bit of dough on the insurance.

BMW's can be had between 1.9%-2.9%. If you have over $30k to pay cash for a new BMW then you have enough to make the monthy payments on a low interest loan, which allows you to that sizeable chunk of money and actually invest in something that could earn you at least over 5% in a non-aggressive, low risk investment.

There is not only one correct answer. There are differing scenarios from person to person. Those who don't mind driving cars for a long time, such as my father, will never lease as it woudn't make sense. But, those of us who like to drive a different or new vehicle every 2-3 years, may want to look into a lease. One thing I would never do is buy a brand new car with cash, UNLESS I were a multimillionaire out to spend my money. Even then, I would insure all my vehicles with no deductibles.

TT
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