cars are so damn expensive!!!!

[Anonymous]

I have a 2021 BWX 530xi that I leased for $0 down and $750/month. Lease is ending so I went in to price out the same care for a new lease and its $1200/month w/ $0 down. What in the world?? Is everyone just getting over leveraged? I dont understand how people buy/lease cars these days.

[Anonymous]

The price didn’t change that much, but interest rates did. If you’re putting nothing down on an expensive car, you’re financing the entire cost.

[Anonymous]

We always buy our cars, and we always buy slightly used cars (under 10k miles) that are known for their longevity. We drive them until the cost of repairs is more than we'd get on trade in (usually around 10-13 years). We paid 23k for our last car and we've had it for 8 years and haven't had to pay for anything but regular oil changes and replace the tires once. So that averages out to less than $300/mo, plus gas. We'll have this car at least 2 more years, and if possible 5 more years, bringing the cost down less than $200/mo.

I'm sorry you are bad with money?

[Anonymous]

Anonymous wrote:We always buy our cars, and we always buy slightly used cars (under 10k miles) that are known for their longevity. We drive them until the cost of repairs is more than we'd get on trade in (usually around 10-13 years). We paid 23k for our last car and we've had it for 8 years and haven't had to pay for anything but regular oil changes and replace the tires once. So that averages out to less than $300/mo, plus gas. We'll have this car at least 2 more years, and if possible 5 more years, bringing the cost down less than $200/mo.

I'm sorry you are bad with money?

Don’t forget that the sale of the old car reduces your cost of owning it even more.

[Anonymous]

Stop leasing and just buy your car with cash.

[Anonymous]

Anonymous wrote:I have a 2021 BWX 530xi that I leased for $0 down and $750/month. Lease is ending so I went in to price out the same care for a new lease and its $1200/month w/ $0 down. What in the world?? Is everyone just getting over leveraged? I dont understand how people buy/lease cars these days.

1. There was an era of “cheap” luxury car lease deals for awhile that ended in ~2021.

2. Inflation; 2024 prices are higher than 2021 prices

3. If you are going to lease and are not well versed in the car market (don’t feel bad, most of us aren’t) then work with a lease broker to do the negotiation for you. Find one on Leasehackr or get a referral from a friend. I’m sure a broker could get you better than $1200/mo on that car

[Anonymous]

Anonymous wrote:

Anonymous wrote:We always buy our cars, and we always buy slightly used cars (under 10k miles) that are known for their longevity. We drive them until the cost of repairs is more than we'd get on trade in (usually around 10-13 years). We paid 23k for our last car and we've had it for 8 years and haven't had to pay for anything but regular oil changes and replace the tires once. So that averages out to less than $300/mo, plus gas. We'll have this car at least 2 more years, and if possible 5 more years, bringing the cost down less than $200/mo.

I'm sorry you are bad with money?

Don’t forget that the sale of the old car reduces your cost of owning it even more.

True, though I kind of factored that in -- the car we currently drive cost 27k but we got 4k on trade in from our last car so we only paid 23k.

[Anonymous]

Buy out your lease. What's the residual value?

[Anonymous]

I’m about to buyout my lease. The buyout price is better than I’ll do on any other car.

If you have the means to pay cash, I think the time for leasing for fun or convenience is over. The cost is just too high.

[Anonymous]

I paid just under 40k for a great new car in 2023. It was a fair price.

No car payments because I could actually afford it.

[Anonymous]

Anonymous wrote:I have a 2021 BWX 530xi that I leased for $0 down and $750/month. Lease is ending so I went in to price out the same care for a new lease and its $1200/month w/ $0 down. What in the world?? Is everyone just getting over leveraged? I dont understand how people buy/lease cars these days.

They don't drive luxury cars they can't afford for starters. Take your $750/month and buy a slightly used car you can actually afford.

[Anonymous]

Buy a 10 year old civic or crv owned by a senior citizen

It’ll still have 7 years of life left

Maybe don’t be a douche in a bmw

[Anonymous]

Anonymous wrote:We always buy our cars, and we always buy slightly used cars (under 10k miles) that are known for their longevity. We drive them until the cost of repairs is more than we'd get on trade in (usually around 10-13 years). We paid 23k for our last car and we've had it for 8 years and haven't had to pay for anything but regular oil changes and replace the tires once. So that averages out to less than $300/mo, plus gas. We'll have this car at least 2 more years, and if possible 5 more years, bringing the cost down less than $200/mo.

I'm sorry you are bad with money?

+1000

[Anonymous]

Anonymous wrote:

Anonymous wrote:I have a 2021 BWX 530xi that I leased for $0 down and $750/month. Lease is ending so I went in to price out the same care for a new lease and its $1200/month w/ $0 down. What in the world?? Is everyone just getting over leveraged? I dont understand how people buy/lease cars these days.

They don't drive luxury cars they can't afford for starters. Take your $750/month and buy a slightly used car you can actually afford.

This. If the BMW is too expensive- it would be for me, go buy an Accord.

[Anonymous]

The 5 series is a terrible value. The problem is the car you chose.