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Car leasing vs buying information,car loan calculator 20000 days,18000 car loan payments,loan calculator calculator soup variables - Review

Author: admin | Category: Car Loan Canada | Date: 08.03.2015

Sometimes it can be as simple as having the required (larger the better) down payment to leave yourself with the most affordable payment possible.
For the sake of this story I’m going to take a normally equipped 2011 BMW 535i, a model that sells very well and has been credited in the BMW’s best first quarter earnings in the history of the company. The MSRP of the example I’m using is $59,125  (see below the build sheet from BMWUSA for explanation of options included). In either of these examples your credit score plays a huge part in whether or not a bank will finance you and at what terms and rate. In our example with the 535i, the lease payment is $771 for a 36 month term with a $34,292 buy out. To finance the same BMW 535 with a $10,000 down payment would leave you with a payment of $881 for 60 months at 4.9% interest.
For most people, the “what if” future value of the car is enough to scare them into leasing.
Well, after 4 years of payments totaling $42,288 and a trade value of $20,500 I’m still only left with $9,928 of equity. It’s been my 20+ years of experience in the auto business that tells me unless you plan to keep this car for 5 years or longer, leasing is the way to go. As you see, both options have pros and cons and the final decision comes based on your own situation:  income, down payment, and specific set of circumstances.
Whenever a new sports car comes out that impresses most enthusiasts, magazines and websites tend to throw it at ever single possible competitor. BMWBLOG goes to Dallas to test drive the new 2015 Rolls Royce Ghost Series II When is a car not a car?
This template is free to use and will help a person figure out what option best fits their budget.


There are two different sheets a person needs to fill out when using the buy vs lease car calculator. There are also areas to enter the payment for the first month as well as the capital cost reduction payment.
Detailed lease information is entered including the last month payment, selling price of the car at the end of the lease, monthly payments, lease terms and additional costs. A person will then enter the resale value, monthly payments and the terms of the loan costs. A person will also enter their financing information as well as the percentage rate of the loan. The buy vs lease car calculator will then calculate the amount of tax a person will have to pay and will show what is the better deal.
It is a BMW affordable to many customers in this segment, and almost 80% of them choose to lease. You are borrowing the full purchase price of the vehicle with a BMW Financial Services set “buy- out”.
For those of us that see security in consistency, and have the down payment, financing is your blanket. With the ever changing models, technology, and resale killing redesigns, the future value of cars is always a “what if”. However, based on my experience, I will tell you this: if you like to keep up with the newest and latest tech, design, or want to stay in warranty, leasing is your answer.
The buy vs lease car calculator can be customized so a person is able to fill in their own information.
This calculator will show a person is they will spend more money purchasing a car or if they are better off leasing the same vehicle.


For this example, we’re assuming a FICO score of 700 which is the average for most BMW purchasers. The important part in that figure is that you paid BMW FS $2,923 in finance charges for borrowing their money for 3 years.
A person is looking for the option that will allow them to drive a reliable vehicle when saving money. Since this buy vs lease car calculator is on Microsoft Excel, all the costs will be automatically calculated so a person can see what option will be the least expensive.
To simplify things and not introduce even more variables, I did not include your state taxes, local taxes or motor vehicle documentation in these figures. If you have no intention in buying the car, then your only exposure was $27,756 in payments for borrowing this new BMW 535 for 3 years. According to today’s wholesale and auction reports, a 3 year old BMW 535i with 36,000 miles is worth around $26,000. In these cases, leasing allows you to pay for the set depreciation and the rest is BMW Financial Services’ problem. The buyout at the end of the term can be paid in full or it can be refinanced by BMW Financial Services at the end. Leaving myself exposed to a future “what if” trade in value, or worse, having to slap a “For Sale” sign on my prized possession and having to subject myself to would be buyers poking and prodding at my BMW. You will be subject to whatever the interest rates are 3 years down the road, in case you choose to finance the buyout.




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