So a 3 year lease for this car would’ve been around 41k including the 5k deposit.... if you had bought the car you would’ve spent (theoretically) 114k but you would’ve had to pay sales tax too which would’ve been another 7k putting the total cost of the car at 121k. Fast forward 2 years later these cars are selling for around 60k. That’s a 60k depreciation/loss in 2 years. So technically if you were to sell the car after 2 years you would’ve lost more money than you would’ve if you had leased for 3 years. If you kept the car another year it probably would’ve dropped even more so the savings by leasing would be even greater. A 3 year lease would’ve cost you: around 41k Buying it and selling it after 2 years: around 60K So essentially by leasing you saved 20k and used it for a year extra. But, the only drawback is you’re limited to 12k miles. I’m also aware that leases have extra fees at the end and they force you to pay for new tires. So I’m assuming that would add another 2k in fees at the end of the lease putting the total to 43k. Still, the deal is better than buying it outright. This deal only makes sense if you always want a new car every 3 years. Otherwise the benefit of a lease isn’t good. Typically most people own cars for 10 years, so leasing this car for 3 leases in a row would cost you 129k, which is more than the cost of buying it outright, but you have a new car every 3 years. Again the downside is that you’re limited to 12k miles yearly and also people forget that you HAVE to pay for full coverage insurance on leases which would put the cost of leasing even higher. I don’t believe in buying brand new cars because you lose so much in depreciation, especially bmw’s. There’s an m3 CS in my area selling for 60k and it only has 5k miles. Buying second hand outweighs the benefits of a lease after the first term. I spend 60k once while you would’ve spent 86k after the second term. Leasing only makes sense if you want a new car every few years.
@@bodipyles that’s exactly what I was implying from my post. The benefit of leasing is more for people who can write that payment off and want a new car every 3 years. Makes more sense to lease than buy the car outright, unless you buy a heavy vehicle and can write off 50%+ of the vehicle immediately. Not an expert on tax code though, so idk how accurate my statements may be.
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Thanks for explaining this lease transfer process in detail. I’m thinking of doing the same thing and this def helped a ton.
So a 3 year lease for this car would’ve been around 41k including the 5k deposit.... if you had bought the car you would’ve spent (theoretically) 114k but you would’ve had to pay sales tax too which would’ve been another 7k putting the total cost of the car at 121k. Fast forward 2 years later these cars are selling for around 60k. That’s a 60k depreciation/loss in 2 years. So technically if you were to sell the car after 2 years you would’ve lost more money than you would’ve if you had leased for 3 years. If you kept the car another year it probably would’ve dropped even more so the savings by leasing would be even greater.
A 3 year lease would’ve cost you: around 41k
Buying it and selling it after 2 years: around 60K
So essentially by leasing you saved 20k and used it for a year extra. But, the only drawback is you’re limited to 12k miles. I’m also aware that leases have extra fees at the end and they force you to pay for new tires. So I’m assuming that would add another 2k in fees at the end of the lease putting the total to 43k. Still, the deal is better than buying it outright. This deal only makes sense if you always want a new car every 3 years. Otherwise the benefit of a lease isn’t good. Typically most people own cars for 10 years, so leasing this car for 3 leases in a row would cost you 129k, which is more than the cost of buying it outright, but you have a new car every 3 years. Again the downside is that you’re limited to 12k miles yearly and also people forget that you HAVE to pay for full coverage insurance on leases which would put the cost of leasing even higher.
I don’t believe in buying brand new cars because you lose so much in depreciation, especially bmw’s. There’s an m3 CS in my area selling for 60k and it only has 5k miles. Buying second hand outweighs the benefits of a lease after the first term. I spend 60k once while you would’ve spent 86k after the second term. Leasing only makes sense if you want a new car every few years.
All 100% true and nice break down! Tax is the hidden charge so many forget about.
This is true. But buying any bmw new is dumb. Smartest thing to do would’ve been to buy it used after it lost 50% of its value.
@@bodipyles that’s exactly what I was implying from my post.
The benefit of leasing is more for people who can write that payment off and want a new car every 3 years. Makes more sense to lease than buy the car outright, unless you buy a heavy vehicle and can write off 50%+ of the vehicle immediately. Not an expert on tax code though, so idk how accurate my statements may be.
@@VKGZ13 yep I agree 👍🏽
yep, but the smartest thing would be to buy Civic, let's be honest here lol
I love the frozen blue. Im thinking about gettin the 2021 m3 in frozen grey, whats the maintenance like for the frozen colors?
I talk all about that in my 5 Things I Love and Hate About the M3 CS video :)
I m from turkey. I live m3 f80