Quote:
Originally Posted by Scoobyd
Over the 3.5 years of the lease I'd expect keeping your current 440i to be the better option from a financial perspective.
I'd imagine the £350 a month bank loan would be finished within the next 3.5 years? When does the loan end?
The £50 a month car tax you've mentioned is the luxury car tax and must be about to come to an end given its age. So that will reduce from this year or next.
Your 440i is 5 years old now so the biggest chunk of the depreciation has already been done. The depreciation costs you've assumed for should be lower than that going forward.
Plus in 3.5 years time, if not before, you'll own the 440i outright and have much lower running costs. Plus an asset you can sell whenever you chose. Whereas on the lease deal, you'll be starting all over again with new monthly payments at who knows what cost.
You may have many other justifiable reasons for wanting to jump out of the 440i into something else, but I'm not convinced the financials are one of them.
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Not sure financials ever really figure in the decision to buy or lease a new car, we may try to justify things on financial grounds... but if I'd put in to property or shares what I've put into cars, I'd be a very rich man....
But as you always say
Scoobyd you have to enjoy the journey as well as the place you arrive at!