whats wrong with my "buy a new car logic"

[Rick Lee]

Mrs. Lee bought her 2006 Mini new because it cost less than the same car with a few k miles on it already. And that was before the crash and everyone started keeping their cars longer.

I like Kaisen's long posts about lease vs. buy. IF you're in the market, then his argument is very compelling. I just can't see myself ever buying a new car. Mrs. Lee took her E92 in for service today and they gave her a new 328i sedan as a loaner. It's soooo awesome. But $42k is a ton of money for a car and a lightly used one will get a better warranty than new if it's sold as CPO. Did I mention I'd never own a newer BMW or Mini that was out of warranty?

[twobone]

Thanks.
My wife has never owned a new car. At 45 she deserves to idulge herself. I think I will take a long lease and see how it goes. I wish cars were not so automated these days. Too many servos, actuators, etc to go wrong!

[recycled sixtie]

Originally Posted by twobone

Thanks.
My wife has never owned a new car. At 45 she deserves to idulge herself. I think I will take a long lease and see how it goes. I wish cars were not so automated these days. Too many servos, actuators, etc to go wrong!

HI Twobone. Now that I suggested a lease and you are serious about it here are my further thoughts on it to complicate the matter!

Financial aspect. If you take the total number of lease payments and add them up then add the buyout option(there might be some dealer paperwork charges etc which you might be able to worm your way out of) then compare this largish figure to the list msrp for the vehicle. The difference is the interest charge. Oh don't forget the down payment to add to the big number.

If you have a business then it makes more sense to lease because business use is a deduction. You will likely find your per km. cost leasing is greater than owning whether you pay cash or borrow to buy it.

Don't forget you have a mileage limit per year for leasing and car must be returned in immaculate condition etc. Good luck with your search. If I was buying a new Porsche I would consider leasing as that way I don't have to put out the big $$$$ for ownership initially. For myself my 2001 Boxster base I did not have to put put too much $$$, it has no warranty left but has been reasonable in terms of running costs. PM if you need any more advice. Cheers, Guy