I'm in the market for a second vehicle, and was looking at the car ads in the Saturday newspapers in South Florida today. I ran a little analysis and was amazed by how low some of the lease deals are. Average costs of $12-19 a day over the life of a lease are typical. I'm not saying these are absolutely the best deals you can get (for that you need to contact Agent 001) but I am saying now is GREAT TIME to buy a car!
Here's what I looked at today:
2007 Acura TSX - $329/month, 36 months, $4,414 at inception – average $16/day
2007 Audi A4 2.0T auto - $339/month, 24 months, $914 at inception - $15/day
2007 Audi Q7 - $499/month, 36 months, $1,074 at inception - $19/day
2006 BMW M3 Convertible $559/month, 28 months, $6,218 at inception - $30/day
2007 BMW 328i - $299/month, 27 months, $4,869 at inception - $18/day
2007 BMW 328iC - $399/month, 36 months, $3,743 at inception - $18/day
2007 BMW 530iA - $479/month, 24 months, $3,478 at inception - $23/day
2007 BMW 750iA - $869/month, 24 months, $5,868 at inception - $40/day
2007 Cadillac CTS 3.6 - $199/month, 27 months, $3,899 at inception - $13/day
2007 Cadillac STS - $399/month, 39 months, $3,995 at inception - $18/day
2007 Lexus RX350 - $399/month, 36 months, $1,995 at inception - $17/day
2007 Lexus IS250 - $299/month, 36 months, $4,995 at inception - $16/day
2007 MB C230 - $279/month, 27 months, $3,900 at inception - $16/day
2007 MB E350A - $519/month, 27 months, $3,995 at inception - $24/day
2006 Mini Cooper - $169/month, 27 months, $3,750 at inception - $12/day
Notes:
In addition to the amounts shown at lease inception, another $1,000-$1,200 may be due for tax, tag and title. Also in Florida there is a sales tax on the monthly payments, but no sales tax is due on the entire value of the vehicle – just on the lease payment.
Most of these vehicles are relatively well equipped with sunroofs, leather etc.
The daily averages take into account all payments, except scheduled maintenance [which is free for BMW] including Florida taxes. This total is divided by number of days in the lease.
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BASED ON THIS ANALYSIS MY FAVORITES ARE THE BMW 328iCoupe, BMW 530i and MB E350. Which would you buy as an second vehicle if the first vehicle is a SUV?