Hey guys, I'm new hear and (obviously) been thinking about trying to get into a BMW. I used to drive my old roommates '00 323 every now and then, which was awesome compared to my '95 Wrangler. Then again, most golf cars are awesome compared to my Wrangler. However, I just got a nice promotion and raise so I'll have a bit more disposable income for the first time. I don't really bank by any stretch yet, but I'm looking into leasing a 328, and found a few good threads on here about leasing vs. buying. There was one really good one which was aimed at leasing n00bs, with a list of things to consider and look for, so I'm going to be referring back to that. I've never bought (or leased) a new car before (I'm 26) so I'm looking for any good tidbits you guys might throw out there. I saw the $389/month lease option on one of the website specials, but that seems to be limited to the automatics, does anyone know if that is available in a manual (or is it dealer-specific)? I think I'd like to lease in that I'm keeping the Wrangler (only 69k miles on it) and would only use the BMW on weekends or at night with the gf. I'd also like the ability to "upgrade" every three or so years.

I'm just scratching the surface in the process, so anything you can throw out there would be helpful.

Congratulations on your promotion! I have never leased as I felt it was the most expensive way to go. There is usually an amount down (relatively small to a usual down payment when purchasing) and a relatively (to purchasing again) small payment. At the end of the lease, however, you have nothing. The ads generally advertise the lease price on a base model and payments go up depending on the car you really do want. Leasing will still put you in the car you want so you should be able to get whatever transmission, etc. that you want. Watch the milage limit on the lease. They really stick it to you per mile if you go over the limit (which you can specify within certain limits). If you want to trade every three years or so, leasing might be for you. Keep investigating and good luck.
Bob

Check out the threads here on leasing, some helpful info there. In the spirit of not repeating everything, I will just summarize that you should always negotiate the purchase price (or at least have a set price in mind for the car you want) then work the lease payments form there. Dealers can hide a lot of stuff behind lease payments, but the lease formula is so easy, and the factors in it are usually fixed (MF, residual) except for purchase price of the vehicle which you should again negotiate on 1st.
As for the lease deal you quote above, just go to BMW website, price out a car with similar options, take off the desired savings off the quoted MSRP, and see what the lease payments would be. Then compare to what you are being offered. Better to work it this way than the other way around.
Good Luck.

Congratulations on your promotion! I have never leased as I felt it was the most expensive way to go. There is usually an amount down (relatively small to a usual down payment when purchasing) and a relatively (to purchasing again) small payment. At the end of the lease, however, you have nothing. The ads generally advertise the lease price on a base model and payments go up depending on the car you really do want. Leasing will still put you in the car you want so you should be able to get whatever transmission, etc. that you want. Watch the milage limit on the lease. They really stick it to you per mile if you go over the limit (which you can specify within certain limits). If you want to trade every three years or so, leasing might be for you. Keep investigating and good luck.
Bob
P.S. You don't need to put any downpayment for a lease if you don't want to (granted you have good credit I believe), but of course that raises the monthlies. You still have to pay a security deposit and dealer fees upfront, but in most states you don't have to pay the tax upfront which i a bonus for many v.s. financing.

Cool guys, thanks for the congratulations as well! I've been reading on this site for a few days, and I've gone about 15 pages deep, so I've seen a few of these lease vs. buy threads. Overall, I think a BMW still might be a bit out of my price and lifestyle range at this time, but its definitely something I'd aspire to drive. As far as the mileage thing goes, I really only put about 7-8k miles on my car a year as I live relatively close to work.

Thanks guys

Cool guys, thanks for the congratulations as well! I've been reading on this site for a few days, and I've gone about 15 pages deep, so I've seen a few of these lease vs. buy threads. Overall, I think a BMW still might be a bit out of my price and lifestyle range at this time, but its definitely something I'd aspire to drive. As far as the mileage thing goes, I really only put about 7-8k miles on my car a year as I live relatively close to work.

Thanks guys
Maybe you should check out a low mileage lease and maybe wait for the 135 which may be at a lower price point than the 328. Things to consider. That's one advantage of a lease if you don't drive much, it will put you in a more expensive car than you could normally afford with traditional financing. Whether that is the best way to spend your money is another issue altogether.

Oh yeah, cograts on your promotion. I had to wait until I started a new job with better position till I got to replace my aging BMW (10 yr old), so I know how exciting that must be for you.
Good Luck

Maybe you should check out a low mileage lease and maybe wait for the 135 which may be at a lower price point than the 328. Things to consider. That's one advantage of a lease if you don't drive much, it will put you in a more expensive car than you could normally afford with traditional financing. Whether that is the best way to spend your money is another issue altogether.

Oh yeah, cograts on your promotion. I had to wait until I started a new job with better position till I got to replace my aging BMW (10 yr old), so I know how exciting that must be for you.
God Luck

Well, no matter what, the Jeep will still take the majority of the daily commute. Any BMW that I would be fortunate enough to find would be strictly a pleasure car.

My promotion is actually a new job, but a very nice salary increase. I was promoted at my old company fairly recently and then was recruited away (I know, I know, I need to stay somewhere for a while, but I'm still relatively young). You make a very good point though about not driving much and affording a more expensive car then I normally would be able to. I have to weigh the amount of driving I actually do to see if it's worth it.

I was wondering about the 1 series as well. Are they going to be priced as a more economical model? I'm guess this is so from your comments....maybe orientated more towards young professionals like myself?

I was wondering about the 1 series as well. Are they going to be priced as a more economical model? I'm guess this is so from your comments....maybe orientated more towards young professionals like myself?

Well I am not sure if they will offer any models other than the 135, so it might not be that economical after all, but definitely less expensive than the 335. Might even come lower than the 328 depending on configuration. Hopefully they will also offer a less potent variant (130 or 128) down the road if the market embraces the 1 series. But then they have to be careful not to make it compete with their own mini, even though they are different animals.

P.S. Are you in the high tech industry. I was with the same company and had the same car for 10 years, so it was only fitting that I change cars after changing jobs. Things were pretty much a dead end in my old company. Don't blame you for job hopping at your age, it has its benefits.

P.S. Are you in the high tech industry. I was with the same company and had the same car for 10 years, so it was only fitting that I change cars after changing jobs. Things were pretty much a dead end in my old company. Don't blame you for job hopping at your age, it has its benefits.

No, I'm in the travel industry. I was a sr. financial analyst for a cruise line and just left (well, put in my two weeks yesterday) for a resort company.

Cool guys, thanks for the congratulations as well! I've been reading on this site for a few days, and I've gone about 15 pages deep, so I've seen a few of these lease vs. buy threads. Overall, I think a BMW still might be a bit out of my price and lifestyle range at this time, but its definitely something I'd aspire to drive. As far as the mileage thing goes, I really only put about 7-8k miles on my car a year as I live relatively close to work.

Thanks guys

You probably should not lease given the amount of miles you drive. BMW leases usually have a sweet spot for gettig the most for your money at 12,000 miles per year. Even if the lease rate is lower for fewer miles, when you get as low as 7-8k a year the math probably does not favor you.

You probably should not lease given the amount of miles you drive. BMW leases usually have a sweet spot for gettig the most for your money at 12,000 miles per year. Even if the lease rate is lower for fewer miles, when you get as low as 7-8k a year the math probably does not favor you.

I'm starting to think that. It was something that had actually never occurred to me until now. I think to make it worth it, I'd be better off without the Jeep, but I'd hate to let it go with only 69k miles on it. I love that car (I know most people think it's a POS) but I've had it forever and love it with the top and doors off. However, there is a time and a place for that car and it's not always the best car to go someplace nice in.