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      03-15-2020, 08:10 PM   #1
BroxigarZ
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Buy Used or Lease New?

So I am in the market and considering an i8. There is one here that is 1 owner CPO'd (2016) i8 right around $72,000 (with I'm sure room to talk down given the global market right now).

It's CPO is through 8/2021 (which doesn't feel very long)

The other option is to try to structure a Lease deal on a 2020 (this will be more expensive from what I can tell per month payment wise by $200 a month).

I'm also held to the mileage, and modification limitations of the Lease, but obviously the car's warranty / issues it would have would not be my liability.

The other option is to seek a Lease Swap, but I am limited to the remaining time on that lease.

What would you do / consider in this situation as the best option?
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      03-16-2020, 11:06 AM   #2
arijaycomet
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Just a few months ago I was in a similar situation as you, but I also had a trade (SUV) that made a lease take-over not viable. That said, I wanted warranty, and a CPO made the most sense. I'm now making payments on a 2016 BMW i8 in Frozen Blue over Cream. It currently has 25,000 miles. Factory warranty till 9/2020 and then CPO till 9/2021 -- so similar to the car you're talking about. Similar price point, too!

My driving needs make leasing difficult, too--- I tend to do 12-15k per year. Ive already put a few thousand on the i8. I'd personally say a loan makes sense, plus I think a 2016 is a good price point right now--- I think they will still lose value in the next few years like any other car, but the BULK of their deprecation is likely complete/over. That is my take, anyhow.

FWIW, my business (manufacturing) is taking a dump right now (coronavirus) and I'm seriously contemplating exiting my BMW i8. My price would likely be ~$5k less than the $72k you talked about -- if you want more details PM me, we can talk. I'm up in Ohio-- not horribly far away.
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      03-16-2020, 11:25 AM   #3
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Quote:
Originally Posted by BroxigarZ View Post
So I am in the market and considering an i8. There is one here that is 1 owner CPO'd (2016) i8 right around $72,000 (with I'm sure room to talk down given the global market right now).

It's CPO is through 8/2021 (which doesn't feel very long)

The other option is to try to structure a Lease deal on a 2020 (this will be more expensive from what I can tell per month payment wise by $200 a month).

I'm also held to the mileage, and modification limitations of the Lease, but obviously the car's warranty / issues it would have would not be my liability.

The other option is to seek a Lease Swap, but I am limited to the remaining time on that lease.

What would you do / consider in this situation as the best option?
I would do the lease or lease transfer. I had a couple for 3 yrs and went for a roadster lease. I don't drive much so lease works. I have only 3000 miles since July and even less now. So I'm thinking of either changing to a smaller lower priced car or lease transfer. 2019 roadster.
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2015 M4 (ED Aug 2014) Austin Yellow/Sakhir Orange, EXEC, DCT, LED, Driver Assist (SOLD)
2015 328GT (ED Apr 15), White, loaded (Wife's)
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      03-16-2020, 03:25 PM   #4
BroxigarZ
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Quote:
Originally Posted by arijaycomet View Post
Just a few months ago I was in a similar situation as you, but I also had a trade (SUV) that made a lease take-over not viable. That said, I wanted warranty, and a CPO made the most sense. I'm now making payments on a 2016 BMW i8 in Frozen Blue over Cream. It currently has 25,000 miles. Factory warranty till 9/2020 and then CPO till 9/2021 -- so similar to the car you're talking about. Similar price point, too!

My driving needs make leasing difficult, too--- I tend to do 12-15k per year. Ive already put a few thousand on the i8. I'd personally say a loan makes sense, plus I think a 2016 is a good price point right now--- I think they will still lose value in the next few years like any other car, but the BULK of their deprecation is likely complete/over. That is my take, anyhow.

FWIW, my business (manufacturing) is taking a dump right now (coronavirus) and I'm seriously contemplating exiting my BMW i8. My price would likely be ~$5k less than the $72k you talked about -- if you want more details PM me, we can talk. I'm up in Ohio-- not horribly far away.
I'm not sure I would do it for $72K, I'd have to get it well below that. The 2015's are going in the mid 50s retail. Meaning trade in value on the $72K would be $48Kish thats a massive depreciation hit over 1 year. I'd want it closer to $65,000 OTD if I went for it.
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      03-16-2020, 08:15 PM   #5
arijaycomet
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Quote:
Originally Posted by BroxigarZ View Post
I'm not sure I would do it for $72K, I'd have to get it well below that. The 2015's are going in the mid 50s retail. Meaning trade in value on the $72K would be $48Kish thats a massive depreciation hit over 1 year. I'd want it closer to $65,000 OTD if I went for it.
Correct— for a CPO 2016 like mine $65-70k is right about where I’d say it would land right now. Hence “$5k under $72k” = $67k — the mid point of the #s I listed — if I were going to list my 2016 with just shy of 25k miles and still 18 months of warranty left (unlimited miles) I’d prob ask $67,500 obo — that is what i was trying to say. LMK

If not, happy hunting. They are great cars! Love mine and the looks its gets. Super posh, fun to drive, and amazing MPG to boot!
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      03-16-2020, 08:17 PM   #6
arijaycomet
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PS :: Your profile says you drive a model 3 performance? My wife has one! We’ve had at least 1 Tesla in the garage since 2014, plus a Tesla Roadster (2010). Great brand/cars— though not quite BMW build quality, they are superb. Wife loves her Model 3 performance (I like it too; had it out on road courses before, stellar!)
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      03-17-2020, 10:59 AM   #7
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Quote:
Originally Posted by arijaycomet View Post
PS :: Your profile says you drive a model 3 performance? My wife has one! We’ve had at least 1 Tesla in the garage since 2014, plus a Tesla Roadster (2010). Great brand/cars— though not quite BMW build quality, they are superb. Wife loves her Model 3 performance (I like it too; had it out on road courses before, stellar!)
It's a great car, but the range is a killer for what I do/enjoy.

I personally think Hybrids are still the best option for daily use, and I may be giving up the Model 3 P for an i8, but that's what I am trying to resolve here.
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