Lease new or buy used?

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Jadam

Member
Joined
Aug 14, 2017
Messages
8
Location
San Francisco
First post here - thanks for all the good info which has helped convince me to go (B)EV.

Seeking some input here as I go back and forth on this, seemingly daily! If you don't want to read the rest, the question above is simple enough!

Background:
As the subject says, I'm wresting with buying used (giga, tech & drivers, Rex, 2014/15, at around 10k miles for low 20s) vs leasing a new BEV, no Rex, with similar options.

I live in SF Bay Area, and generally have a 50 and sometimes 60 mile commute. Based on what I have read here and elsewhere, the BEV with 60 Ah might cut it close when driving at speed in the not-too-cold winters. The higher range on the 94 Ah is a better fit. We also have a CRV for road trips so this would not be the only car.

Buying new seems silly given the depreciation and, as many have pointed out, the landscape will be quite different in a few years. So leasing, which would be a first for me, could be a hopefully not-too-expensive bridge to buying a future used 2017 or 2018 after a two year lease expires, at a presumably similar price to today's used 2014/15s, while getting better range than previous years.

I'm currently in a 2013 A3 TDI and while I've always liked my car, the pollution guilt, post dieselgate, is front and center. I had a Mini prior to that years ago so small cars in hatchback form are preferred. VW are offering 30k to buy it back and thought the next move should be electric. I test drove one this past weekend and loved the ride!

Problem is good leases (2yr/12k miles) in the 350/month range (no money down) seem hard to find right now. BMW claims they are no longer doing MSDs, and the money factor they quote for great credit is 0.0018 which seems ridiculous. Any lowering of the sale price is offset by a high money factor. The only incentive I can get at the moment is the federal credit. Should also mention, that I would like to not have payments that in total would exceed my payout. Buying used is free and clear. Leasing at the right price would allow me to fast forward a couple of years with enough left over to get most of the way on a used I3.

There's nothing about the used market that bothers me except for the lower range of the battery. If I bought something for 20k now, the question is what would that be worth in 3 or so years when there will be 200 mile range batteries more commonplace (battery upgrade program by then?). If I like it enough and it meets my needs, that question may be moot.

The third option is to simply wait until the 2018s are out and try to get a used 2017 then, say by February?

Anyone else going through a similar thought process?
 
I'm right there with you. I don't drive much but my car got totaled last month and I need a new ride. I REALLY want to get an i3. I tend to keep my cars a long time but the drop in value has me pondering staying with a gas powered car that will hold its value. My last car was a 2008 Mazda MX-5 Grand Touring with Retractable Hard Top with 30k miles on it and I just got a check for $12,800 from my insurance (including the reduction by $1k for the deductible). I doubt very seriously that any current electric vehicle would maintain that sort of value over a 9 year time-frame.
But, I'm a nerd and I really want all of the gadgets.

Following.

Steve
In Los Angeles pining for an i3....
 
Switch it around and stop thinking about 'what will it be worth in when I'm done' and consider 'how much will I spend to drive the car'.

You live in LA, where the lease deals are plentiful and cheap and lots of government incentives. http://ev-vin.blogspot.com/

At this point, you can drive something for less than $200/mo or an i3 for ~$300/mo.

That's dirt cheap.
 
From what I saw when I was searching for a car, the S. Cal dealers seem to be offering good deals. Buy (lease) one in So. Cal and drive it back to SF. A few have done so and I can post links to their reports if you like.
Also, there is an internet friendly sales guy in So. Cal that is well respected on other BMW forums. I didn't buy from him b/c I'm on the east coast, but I can point you toward him if you like. He reportedly gives good deals.
 
Jadam said:
If you could provide that info by posting here or PMing me, that would be greatly appreciated.
I'e never used him or even contacted him, but like I say, he is highly regarded on other BMW forums.
Greg Poland at Pacific BMW (I think in Glendale).
 
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