Never leaseAmberite wrote:I
Does anyone have any advice or possible alternative strategies.... ...
Shop BMW to see what they will do for you.Amberite wrote:=...... In the past, I've leased BMWs and if I ever went over mileage, they would work with me to either add additional miles to the contract (and my monthly payments would be slightly higher), or they would negotiate a lower rate (I usually ended up paying $0.10/mile).
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The problem with this solution is that you'll be right back where you started married to a lease. Leasing is the most economically foolish way to get into a car. The only exception to that is if you are in a profession which would allow you to write the lease cost off on taxes.Thinc2 wrote:Unless you plan to get another Infiniti. In which case go to the dealer and negotiate away your excess mileage. They will do this in order to get you into another new car lease.
Agreed!Starter wrote:The problem with this solution is that you'll be right back where you started married to a lease. Leasing is the most economically foolish way to get into a car. The only exception to that is if you are in a profession which would allow you to write the lease cost off on taxes.Thinc2 wrote:Unless you plan to get another Infiniti. In which case go to the dealer and negotiate away your excess mileage. They will do this in order to get you into another new car lease.
If you can't afford to buy the car in the first place then you can't afford the car.
I disagree. I just got my first lease. I had the money to pay the car outright. BUt in doing the math, it only costs me an extra $2K to lease for the first 39 months compared to an outright cash purchase. I won't exceed the mileage in any case as I ride my motorcycle.Starter wrote:The problem with this solution is that you'll be right back where you started married to a lease. Leasing is the most economically foolish way to get into a car. The only exception to that is if you are in a profession which would allow you to write the lease cost off on taxes.Thinc2 wrote:Unless you plan to get another Infiniti. In which case go to the dealer and negotiate away your excess mileage. They will do this in order to get you into another new car lease.
If you can't afford to buy the car in the first place then you can't afford the car.
You clearly have only thought it through to get to the result you wish it to be. You're looking at one lease term and not the long run.Thinc2 wrote:I disagree. I just got my first lease. I had the money to pay the car outright. BUt in doing the math, it only costs me an extra $2K to lease for the first 39 months compared to an outright cash purchase. I won't exceed the mileage in any case as I ride my motorcycle.
So that $2K protects me with gap insurance in case I get in a serious accident and the car depreciates due to for example air bags deploying. And it gives me the opportunity to upgrade to a more modern car after 3 years. With the pace of change in electronics etc, cars will go out of date more quickly than they did 10 years ago, so that's a nice option to have. I may decide to go to a Tesla in a couple of years, or some other electric alternative if the costs come down a bit. The new P70D is pretty nice.
If after 39 months I want to keep the car, that flexibility has only cost me $2K. Seems reasonable.
That unicorn doesn't exist. There is no car made that I will want to keep "long term". Possibly a 2015 M3, but $90k is not an amount I would be willing to spend on a car.Starter wrote:Doesn't help your financial situation at all though. The money thrown away on a new car every couple years is money which could have been invested for your long term satisfaction. Find a car you really like and keep it for a while, you'll be much better off over the long run.