Pay off my current car? get a new whip? Car buying strategies

Exit9NJturnpike

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Damn i was considering the same thing. I have 08 Camry with less than 50k miles. I still owe 6k but I was thinking about trading it in for this.
jal92p.jpg
I'm not a big car head, give me that truck and i'm good. 09 Chevy Tahoe worth about 27,000. Love that fukking truck.
k38y85.jpg
:shaq: Not a huge gas guzzler either.
 

winb83

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Explain how to BMW LEASE process in detail.

For a new 12 3series I was quoted from BMW lease $4500 down @ $450 month.
But if I double down for $9K it goes down to $350 month?
And that extra $4500 is held by BMW program so I can ride new and swap out as long as BMW can pass certified inspection and be taken back stock condition?
And I can get back the $4500 at the end option, or roll it over into a finance because at that point I would have good history?
This sound too good to be a real deal, but they swear a lease is the way to go to build equity up for cheaper payment.
I can easily find a used KIA to on the side though BUT I NEED A CLEAN WHIP IN MY LIFE.
If I couldn't afford something used long term it doesn't matter what I buy because mechanics are going rip my budget with little nagging problems every month.
I want to build my credit one good time so I can buy a house etc.
A clean, decent modern car is going to cost $7000 a year minimum to maintain anyway.

That sound like $22K total to ride a brand new for 3 years and have some good credit to get another BMW or buy out what I already have for another $4500+my $4500 = $9000 by that time it will depreciate value?

Is that good eating or just a bunch of hustle?
a lease is a hustle by the car company to sell the depreciation of a new car to a person who likely can't afford to buy that car.

just because you lease doesn't mean you don't have to maintain it. if anything happens to that car you still have to pay out of your own pocket to fix it or you'll get taxed when you return it if the car isn't in pristine condition. worse yet you're limited to only driving the car to annual miles on the lower end or you'll get taxed on the miles.

you gonna pay them $20K to rent a car for 3 years? for $17K or so you can buy a brand new normal compact entry level car and own it for 10+ years. for $25K or so you can get a brand new regular car and own it. better yet you can buy an entry level bmw for $23k or so from 2008 and let somebody else pay for the depreciation of the car.
 

|r|e|a|d|

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Explain how to BMW LEASE process in detail.

For a new 12 3series I was quoted from BMW lease $4500 down @ $450 month.
But if I double down for $9K it goes down to $350 month?
And that extra $4500 is held by BMW program so I can ride new and swap out as long as BMW can pass certified inspection and be taken back stock condition?
And I can get back the $4500 at the end option, or roll it over into a finance because at that point I would have good history?
This sound too good to be a real deal, but they swear a lease is the way to go to build equity up for cheaper payment.
I can easily find a used KIA to on the side though BUT I NEED A CLEAN WHIP IN MY LIFE.
If I couldn't afford something used long term it doesn't matter what I buy because mechanics are going rip my budget with little nagging problems every month.
I want to build my credit one good time so I can buy a house etc.
A clean, decent modern car is going to cost $7000 a year minimum to maintain anyway.

That sound like $22K total to ride a brand new for 3 years and have some good credit to get another BMW or buy out what I already have for another $4500+my $4500 = $9000 by that time it will depreciate value?

Is that good eating or just a bunch of hustle?

Good eating or being hustled is a perspective thing to each his own :yeshrug:

But your math seems correct if a lil too high. First off I sold cars for 5 years and i never heard of any dealership returning anything. Basically that extra you put down is being applied to the principle(the part you're responsible for) not the residual so you are in equity position per se... well as far as having a depreciable asset goes.
Quick side bar: If your credit is strong enough to qualify for a lease then it's more than strong enough to get a house.

IMO it's a good idea to get leases from BMW Honda Infinity Lexus over others because they keep their value better than others. winb83 is correct in some respects and way off in others. With so many folks not being able to afford the hot new shyt the secondary certified pre owned market is booming. From experience many folks in new car sales were switching to used because there is more money in it. Alot of dealerships used car divisions frequently out sell the new car divisions. And car mfgs know this which is why leases have switched how they operate. Alot of wha you say is used to be true. Thats why you see more higher end cars now including maintenance. because if the avg BMW driver switches out of their cars every 4-6 years it would behoove me(BMW) to make sure that joint is pristine for the next owner. Plus its easier to certify knowing it was operated on by trained mechanics vs Jake from down the block
 

Akuma

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Good eating or being hustled is a perspective thing to each his own :yeshrug:

But your math seems correct if a lil too high. First off I sold cars for 5 years and i never heard of any dealership returning anything. Basically that extra you put down is being applied to the principle(the part you're responsible for) not the residual so you are in equity position per se... well as far as having a depreciable asset goes.
Quick side bar: If your credit is strong enough to qualify for a lease then it's more than strong enough to get a house.

IMO it's a good idea to get leases from BMW Honda Infinity Lexus over others because they keep their value better than others. winb83 is correct in some respects and way off in others. With so many folks not being able to afford the hot new shyt the secondary certified pre owned market is booming. From experience many folks in new car sales were switching to used because there is more money in it. Alot of dealerships used car divisions frequently out sell the new car divisions. And car mfgs know this which is why leases have switched how they operate. Alot of wha you say is used to be true. Thats why you see more higher end cars now including maintenance. because if the avg BMW driver switches out of their cars every 4-6 years it would behoove me(BMW) to make sure that joint is pristine for the next owner. Plus its easier to certify knowing it was operated on by trained mechanics vs Jake from down the block


I don't trust ANY car salesman that is why I'm posing the question on here.

Regular people around me say get a used car -- THERE ARE NO DECENT USED CARS AROUND HERE ANYMORE.

Everything is 100K+ miles and rusty, raggedy, bad transmissions, etc. I don't trust online either. The worst that can happen is I keep buying these jalopy over and over, I KNOW PEOPLE WHO DIED OVER BAD BRAKES, POWER STEERING FAILURES. That bull will not become me, I will never let a car stranded me on the side of the road again ever in life.

I already have been pushing the same car for the longest, it costing me money and time right now to keep fixing THE SAME PROBLEM.

I'm trying to avoid being locked into long term financing and ride NEW for what I just need RIGHT NOW.

Who can tell me what the status of Dodge Charger deals?
 

Akuma

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a lease is a hustle by the car company to sell the depreciation of a new car to a person who likely can't afford to buy that car.

just because you lease doesn't mean you don't have to maintain it. if anything happens to that car you still have to pay out of your own pocket to fix it or you'll get taxed when you return it if the car isn't in pristine condition. worse yet you're limited to only driving the car to annual miles on the lower end or you'll get taxed on the miles.

you gonna pay them $20K to rent a car for 3 years? for $17K or so you can buy a brand new normal compact entry level car and own it for 10+ years. for $25K or so you can get a brand new regular car and own it. better yet you can buy an entry level bmw for $23k or so from 2008 and let somebody else pay for the depreciation of the car.

Where can I buy a compact car for sticker price at RIGHT NOW? Even if I had the full cash they wouldn't give me the real price, let alone make the sale UNLESS I FINANCE. All the good gas compact cars are going for full price right now.

No matter what type of payment I could make it will still be a depreciation.
I am not payments for a 2008 BMW THAT IS OUT OF WARRANTY BECAUSE IT IS OVER 4 years old & 60K in miles.

I never dealt with BMW before, so I'm making sure if this is some scam or do all dealers do this now?

My thought was BMW was doing new stuff like -- going to lease me something, I go 12 months no missed payments, do annual inspections, dude told me to say hey, swap me for new coupe same rate SO THEY CAN SELL WHAT I HAVE AS A PRE-OWNED. He made it sound like I could be like a dealer demo type of deal. If my credit was so bad they will take the car back for any reasons anyway. 3 years later I either resign on residuals for a financing with top tier because I already MADE 3 YEARS OF LEASE at a LOWER RATE, or get only my SECURITY DEPOSIT back and keep it moving.

That way I would never go over mileage and my credit score would still build up.

If I buy a used for $10000, and make $10000 in repairs to keep it running for years, and it will only be worth $5000 when I sell it anyway. I need that credit boost right now, I can always find a used suv to keep on the side. I just prefer something new that get good mpg instead of a expedition truck etc.
 

winb83

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Where can I buy a compact car for sticker price at RIGHT NOW? Even if I had the full cash they wouldn't give me the real price, let alone make the sale UNLESS I FINANCE. All the good gas compact cars are going for full price right now.

No matter what type of payment I could make it will still be a depreciation.
I am not payments for a 2008 BMW THAT IS OUT OF WARRANTY BECAUSE IT IS OVER 4 years old & 60K in miles.

I never dealt with BMW before, so I'm making sure if this is some scam or do all dealers do this now?

My thought was BMW was doing new stuff like -- going to lease me something, I go 12 months no missed payments, do annual inspections, dude told me to say hey, swap me for new coupe same rate SO THEY CAN SELL WHAT I HAVE AS A PRE-OWNED. He made it sound like I could be like a dealer demo type of deal. If my credit was so bad they will take the car back for any reasons anyway. 3 years later I either resign on residuals for a financing with top tier because I already MADE 3 YEARS OF LEASE at a LOWER RATE, or get only my SECURITY DEPOSIT back and keep it moving.

That way I would never go over mileage and my credit score would still build up.

If I buy a used for $10000, and make $10000 in repairs to keep it running for years, and it will only be worth $5000 when I sell it anyway. I need that credit boost right now, I can always find a used suv to keep on the side. I just prefer something new that get good mpg instead of a expedition truck etc.
What do you do plan to rebuild the whole car while you own it? $10000 is excessive for repairs. You'd spend maybe a lil over $1000 a year on repairs.
 
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