In Reply to: Let me get this straight posted by Carl B on October 23, 2000 at 12:17:54:
On your points:
"...I understand that. Until you purchase the car, BMW owns it. It's that simple."
-Your point being. Mine was that while BMW may be actual title holder, my option contract (for lack of a better term), gives me exclusive rights to purchase the car at a preagreed upon price which BMW cannot prevent. SO, for all practical purposes, the fact that BMW owns title is of no significance.
"All I meant was that you appear to be buying a leased car to immediately sell it for profit. More or less acting like a car dealer. So you hit a paperwork snag, deal with it. Car dealer's do all the time, it's part of the cost of doing business."
No, I didn't sell the car for any profit. Just wanted to get out of the car as quickly as possible because the leasee was leaving the country and didn't need it anymore.
"I agree that arguing with you the merits of leasing vs buying does seem pointless. Just remember, figures don't lie but liars can figure. Add up the full cost and compare apples to apples. Don't just look at payment, residual and MSRP. Next time you get a new car negotiate the best cash price first, then calculate the lease. I think you may be surprised to find that leasing isn't as good a deal as you thought."
Thanks for your wisdom. I don't know how I acquired my last EIGHT BMW's without you. Actually, I think I know a bit more than you do on the subject of leasing vs buying. Check this out... for example, i offer you the lease agreement on our 1998 silver 318ti lease- 36 months (2700 in refundable security deposits which BMW MUST give back at end of lease per contract)- 270 per month (including tax)= total (9720)(- Buy back at end of lease $15024 (including tax). Start ups are $400 bank fee, tax, title etc (same shit whether buying or leasing) Total price is $24,744.00 (including tax) plus incidental start up costs which are the same whether leasing or purchasing. The sticker on the car is $26,000. How much interest did I pay? Zero!!!! And at the end of three years I can always walk away from the car if no longer interested or I can sell it- MY CHOICE. This is how I structured the lease deals on ALL of my BMW's. I bitched last week (ONCE) because BMW no longer gives competitive lease deals that allow this. To do this same deal now I would pay something like $5000 in interest!!!!
However, automakers such as Jaguar and Lexus still offer rates like I cited. They are worth checking out.
Now, since I assume you were calling me a liar in your previous post, do you care to enlighten me as to how buying the car or financing it (and paying interest) would be a better deal than what I structured in the past? Especially, considering that while your money is sitting in a depreciating asset, mine is working for me, ready, at the end of the lease, to purchase the car if I still desire.
For some people leasing doesn't work, BUT don't be so cocky as to assume that buying is ALWAYS better than leasing. Like everything in life, it depends on who you are, who you know and what you want.