rate the deal i got on a lease 750li

[OnlinePro]

I recently leased the 750LI fully loaded with MSRP of 85,000 for 3,500 drive off and 950/month plus tax for 3 years an 12,000 miles per year. I looked around and it was the best deal around here ( los angeles ) can anyone find better.

[THAY3R]

How much do you expect the car to be worth in 3 years?

[OnlinePro]

about 40 depending on miles and how bad wear an tear

[OnlinePro]

LOL you people on this forum are crazy. Do you people save every dime you make and invest it in 7% yeild investments for 40 years until you die and never get to spend your money ?

The question was if I got a good deal on the lease. Not whether or not it was a good way to spend 40k over 3 years.

What is the point in earning money if you dont get to enjoy it ?

Some of you need to weight that into your calculations and denominations of how much you save per year over how many years times how many percent over how much is taxed minus how much is spent...... ehhh you people are crazy.

[JordanIB]

BBV?

[OnlinePro]

Wow, I didnt think this post would get this much action. Its kinda like raising with AA in first position and having 3 poeple go all in behind you.

To sum things up I am 23 years old and I can pretty much retire tommorow if I wanted to. I have 2 houses paid off ( both appraised at over 500k)and a pretty good amount of money in savings. I am not worth 2 million yet, but i will be by the end of next year im estimating. I could have bought the car cash but I did not want to put 80 cash and then worry about selling the car a few years later. I like to change cars frequently. In the past 5 years this is my 3rd new car. All of them were BMW's I just love the way they drive. This is why I prefer lease over buy option. As for going over mileage i wont have to worry about that because I have a BMW credit card that I use to fill up gas which in turn give me points that I can redeem for extra miles should I need them, which I havent needed previously. And I pay all credit card billls in full when I recieve the bill so I dont pay any interest costs at all.

I looked around other dealerships and the lease offer most places were offering was 5k down and 1200 a month. I got mine for 3k down and 950 a month. I just wanted to know what the lease deals were like around the country.

I pray to god that I will never be so cheap as to drive a 10 year old toyota just because I am scared to not make enough money.

And on a nother note as a poker player how can you retire ? How do you decide one day that your never going to play poker again ? This will never happen. I think as long as you are healthy enough to pick up a rack of chips you will still want to play poker. Given you wont need to play 3-4 times a week, but you will still be playing every so often.

As for the comment being a slave to the bank. I dont understand how you think that. Being a slave to a bank means that you are making 2k a month paying a 1k a month car loan. But if your making over 30k a month paying a 1k car loan how are you a slave to the bank ?

And I did not throw away my lease contract I just dont remember where I put it... LOL. This is excactly the reason why I have copies of all documents faxed to my CPA/attorney.

This is a good argument for what is actually means to be rich. If you have 1.5 million in the bank but you live in a 1 bedroom appartment and drive a 99 dodge stratus and eat microwave dinners by yourself . Does that mean your rich ?

[DesertCat]

[ QUOTE ]


What is the point in earning money if you dont get to enjoy it ?

[/ QUOTE ]

You are going to have $20k more enjoyment in a new 750li over a barely used one? Or $40k more enjoyment than from a three year old 745i? If you never learn to be selective over how you spend your money you'll never have any to spend.

And almost all leases are bad deals. Pay cash.

[celiboy]

[ QUOTE ]
LOL you people on this forum are crazy. Do you people save every dime you make and invest it in 7% yeild investments for 40 years until you die and never get to spend your money ?

The question was if I got a good deal on the lease. Not whether or not it was a good way to spend 40k over 3 years.

What is the point in earning money if you dont get to enjoy it ?

Some of you need to weight that into your calculations and denominations of how much you save per year over how many years times how many percent over how much is taxed minus how much is spent...... ehhh you people are crazy.

[/ QUOTE ]

No not 40 years - ahout 25 in my case when I plan to retire just before 50. For me I would rather retire 10 years earlier and get out of the rat race early than having an expensive car. I drive a 5 year old Toyota that is fully paid for and I plan to drive it for at least another 5 years and I certainly don't feel deprived. I personally get a lot more enjoyment knowing I paid my mortgage off in full at 30 years old versus having a flashy expensive car...oh I see you live in California...that explains alot too. Gotta keep up with the joneses eh?

OH and as for the lease, it is a bad deal plain and simply. You don't even know the interest rate you are being charged nor do you know what you actually are paying for the car. These are a couple of things I like to know before buying anything but I guess I"m just crazy that way.....

[SlowHabit]

[ QUOTE ]
These are a couple of things I like to know before buying anything but I guess I"m just crazy that way.....

[/ QUOTE ]
You're not crazy; you just haven't win enough.

[Cubswin]

What was the money factor on your lease? Give me this information and I can tell you how good of a deal you got. The money factor is a decimal number that appears on your lease contract.

cubs