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      11-21-2023, 09:21 AM   #1
buddenfan
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Might finally gravitate away from BMW

Every car Ive ever had for the last 12 years that Ive been driving have been BMWs but seems like I might finally have to step away.

The reason is Ive been eyeing an electric and Lucid has very appealing lease deals. I took a look and a Lucid Air Touring with 0 down would be $1547 a month for an 18 month lease! Thats sweet as hell to have a car for 18 months instead of the usual 36 months and thats also with 15k miles per year. After that I can come back to BMW lol.
This lease would be slightly cheaper then Im paying for my 2021 X6M comp
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      11-21-2023, 09:24 AM   #2
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Go for it. YOLO
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      11-21-2023, 09:25 AM   #3
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$30K to drive a car for 18 months. Hard pass. Jesus.
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      11-21-2023, 09:40 AM   #4
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The only concern for Lucid is that the Saudis will cut off their funding and they will go bankrupt. I think you will like having the car itself though. I have loved my S Plaid.
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      11-21-2023, 10:00 AM   #5
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A friend recently leased an electric Genesis GV60 sedan and I was surprised at the deal he got. They gave him free charging with Electrify America ( 3 years? I think other companies have similar deals), and then gave him an immediate $10k credit for an initial lease payment. Final price for the Genesis lease was cheaper than a similar Hyundai electric, and the Genesis is a much better optioned vehicle.
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      11-21-2023, 10:01 AM   #6
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Quote:
Originally Posted by Alfisti View Post
$30K to drive a car for 18 months. Hard pass. Jesus.
Yeah but its the same on my X6M except 60k for 36 months
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      11-21-2023, 10:03 AM   #7
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Quote:
Originally Posted by gblansten View Post
The only concern for Lucid is that the Saudis will cut off their funding and they will go bankrupt. I think you will like having the car itself though. I have loved my S Plaid.
Drove my cousins S Paid and also a friends Y and loved both

If staying with BMW id prib go for ix m60 or xm depending how lucrative the leases are by April
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      11-21-2023, 10:15 AM   #8
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Quote:
Originally Posted by buddenfan View Post
The reason is Ive been eyeing an electric and Lucid has very appealing lease deals.
Hold on and you can pick one up cheap in the liquidation sale.
Lucid Lost $430,000 For Every Car It Sold In Q3
https://insideevs.com/news/695176/lu...de-in-q3-2023/

I'm sure they will make this up in volume
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      11-21-2023, 10:29 AM   #9
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Quote:
Originally Posted by alfisti View Post
$30k to drive a car for 18 months. Hard pass. Jesus.
amerikaaaaaaaaaaaaaa
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      11-21-2023, 10:43 AM   #10
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Quote:
Originally Posted by buddenfan View Post
Yeah but its the same on my X6M except 60k for 36 months
Two wrongs don't make a right, that's BONKERS money.
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      11-21-2023, 10:48 AM   #11
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Quote:
Originally Posted by Alfisti View Post
Two wrongs don't make a right, that's BONKERS money.

That's why I buy used at the point that majority of the depreciation has happened. Yes you won't have a brand new car but you can get one a few years old and have enough money for one or two more cars. Hence why I have 9
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      11-21-2023, 10:48 AM   #12
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$1500 a month?

Glad I own all my cars/house. That's just insane.
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      11-21-2023, 10:55 AM   #13
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Quote:
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That's why I buy used at the point that majority of the depreciation has happened. Yes you won't have a brand new car but you can get one a few years old and have enough money for one or two more cars. Hence why I have 9
I can hear an argument for leasing new then buying out and driving a vehicle into the ground. We just did bought out our Stelvio today actually as the residual is laughably low given the value of the car. But handing the keys back every 3 to 4 years, i mean I guess each to his own and if one can afford it then go ahead but man, the numbers being talked about are eye popping.
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      11-21-2023, 11:26 AM   #14
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Quote:
Originally Posted by Alfisti View Post
Two wrongs don't make a right, that's BONKERS money.
That is a very reasonable lease payment depending on what is being leased. That is right in the ballpark for me on my prior 2020 M5 $0 down and 36M/10K.
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      11-21-2023, 11:39 AM   #15
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Quote:
Originally Posted by gblansten View Post
That is a very reasonable lease payment depending on what is being leased. That is right in the ballpark for me on my prior 2020 M5 $0 down and 36M/10K.
$1700/month isnt a reasonable lease payment unless the car is over $200k, and even then youd be a fool to lose $60k in 3 years on a car. Just go buy a 911 and drive it for 3 years and sell it for close to what you paid for it, then invest all the money you didnt waste.
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      11-21-2023, 11:39 AM   #16
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Paying $1.24 per mile sounds like a terrible deal to me. Before electric consumption, of course. If you can swing it, why not though. I'd pick something different for that type of money but what the hell does that matter.
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      11-21-2023, 11:46 AM   #17
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Quote:
Originally Posted by Alfisti View Post
I can hear an argument for leasing new then buying out and driving a vehicle into the ground. We just did bought out our Stelvio today actually as the residual is laughably low given the value of the car. But handing the keys back every 3 to 4 years, i mean I guess each to his own and if one can afford it then go ahead but man, the numbers being talked about are eye popping.
Exactly. Even my F250 I bought "used" which was a new truck the PO had to return due to financing falling through. Got almost 10k off even though it had 1k miles on it. Plus the person put OEM running boards on and bed liner. Their loss was my gain. Got the full warranty as well. Heck even my wifes new horse trailer I did the same, $16k trailer got it for $11k, person had to immediately trade it in to the dealer because their horses wouldn't load slant style. Got the full 10yr warranty on that as well.

Just can't imagine wasting that amount of cash if you can help it. I have nothing to prove, I just want decent stuff at a decent price and new isn't it.
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      11-21-2023, 12:31 PM   #18
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$1547 is ~$200 less than what I pay mortgage on a duplex that generates $2500 in rental income monthly
0.o

But if you've got the money, might as well burn it YOLO
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      11-21-2023, 12:34 PM   #19
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Quote:
Originally Posted by gblansten View Post
That is a very reasonable lease payment depending on what is being leased.
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      11-21-2023, 12:44 PM   #20
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Quote:
Originally Posted by dgoldenz View Post
Just go buy a 911 and drive it for 3 years and sell it for close to what you paid for it, then invest all the money you didnt waste.
I know i sound like a Porsche shill but TBH that's where my head went just due to the lack of depreciation. Go find a nice CPO 991.2 and drive it 4 years and sell it for basically what you paid for it. But it's a compromise car not a comfortable sedan.
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      11-21-2023, 12:52 PM   #21
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Quote:
Originally Posted by dgoldenz View Post
$1700/month isn’t a reasonable lease payment unless the car is over $200k, and even then you’d be a fool to lose $60k in 3 years on a car. Just go buy a 911 and drive it for 3 years and sell it for close to what you paid for it, then invest all the money you didn’t waste.
I don't know where you are coming up with these numbers. My car was close to invoice and I got the buy rate on the MF. It's just math. I am definitely a fool based on your criteria and I have no desire to stop being foolish. What is actually foolish is to fail to take into account an individual's priorities and income/wealth. I don't begrudge someone buying a $52 million yacht and then paying salaries to staff and to supply it if they are at that wealth level. I can't afford that but it doesn't make that person foolish, a priori.
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      11-21-2023, 01:20 PM   #22
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Quote:
Originally Posted by gblansten View Post
I don't know where you are coming up with these numbers. My car was close to invoice and I got the buy rate on the MF. It's just math. I am definitely a fool based on your criteria and I have no desire to stop being foolish. What is actually foolish is to fail to take into account an individual's priorities and income/wealth. I don't begrudge someone buying a $52 million yacht and then paying salaries to staff and to supply it if they are at that wealth level. I can't afford that but it doesn't make that person foolish, a priori.
General rule of thumb for leasing is that if you roll in all taxes and fees and pay $0 up front, your lease payment should not be more than 1% of the MSRP. Anything over that and you're getting hosed. You can buy whatever you want but that doesn't mean it's a good decision when there are better options out there for the money. You do you though, I just can't imagine forking over $60k to drive an X6M or a Lucid for 3 years. I mean you could buy a Ghost/Wraith and drive it every day and lose less than $60k in 3 years lol. I paid less than that for my Panamera Turbo S which was $223k new, downside is maybe $15-20k max over 3 years?
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