In Reply to: BMW financial services-collection of morons! posted by JoeZaf on October 23, 2000 at 08:44:31:
1. I’m 29 years old and currently do not have a family (wife, children, etc.) and thus I do not have to worry about passenger room in a Z. This may change in 3 years.
2. I use my car every day for business reasons so most of the lease is tax deductible. This is not the case when buying a car. This too may change in 3 years.
3. When I did the math it was just financially better to lease the car rather then to buy it.
I look at my Lease this way, I purchased a new car that is under FULL warranty and I have someone that will buy it from me in 3 years “IF” I choose to sell it to them. If for some reason in 3 years I do not like something about the car, my family life changes, or my financial situation changes and I have to sell the car, I already have a buyer (BMW). I do not have to spend time or effort looking for someone to buy a Z3. No matter what is wrong with the car (engine, transmission, etc, etc) BMW has buy it back. If on the other hand the car performs well and I still think a Z3 is right for me I have the option of not selling it to BMW at that time but telling them to wait for a year or two (Extend the lease).
In my opinion having a 3-year lease on a car is the same as financing / buying a car and having to selling it in 3 years, except with out the headaches associated with selling a car. Yes, there are some financial differences in the long run but that is a personal choice that people make with their money.
I understand that many people think that because a person leases a car they may not take as good a care of it as a person that buys a car, but that is up to the individual owner. I know many people that buy new cars and just do not care what happens to them, they just drive them till the car dies. This is not the case with me, I take very good care of MY car. I have many of the same modifications others on this board have, I wash my car only by hand and so often that my neighbors are starting to look at me funny.
I have had my 2000 Z3 since Oct. 19 1999 (yes, I do remember the date I got her), and every day that I drive is like the first. It is my car today and it will be my car until I decide otherwise. In the mean time I am just enjoying the FUN.
Just my Z3 cents worth…