# Finance question!



## M3Inline6 (Oct 7, 2002)

Just out of curiousity, what did the bank require down when you all purchased your M3's? I'm putting down 10k or more on my M3 when it comes in next month (leasing). Do any of you think I'll need more? Any advice would be much appreciated. Thanks!


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## JST (Dec 19, 2001)

M3Inline6 said:


> *Just out of curiousity, what did the bank require down when you all purchased your M3's? I'm putting down 10k or more on my M3 when it comes in next month (leasing). Do any of you think I'll need more? Any advice would be much appreciated. Thanks! *


Never, ever put any money down on a lease; putting down 10K is sheer folly.

If you total the M3 the day after you get it, your insurance company pays off the title holder (either BMWFS or whoever you lease through). Your lease will likely have gap insurance to cover the difference between the amount you owe the leasing company and the amount the insurance company pays, but gap insurance is one way. If you put 10K down, you will never see that money again.

Plus, putting all that money down on a lease vitiates one of the key benefits of leasing, which is that you don't have to tie up a lot of your liquidity in your car. Leave the 10K invested, put nothing down other than taxes and fees, and you'll be a lot better off, even if the monthly payments do seem outrageously high.

Realistically, if the only way to get the monthly payments within budgetary range is to lease the car and do 10K in cap cost reduction, you are getting a car that you cannot afford.


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## M3Inline6 (Oct 7, 2002)

It's not that I can't afford it, I was just curious how much some of you put down. I'm really considering buying instead of leasing. I was just curious about how much some of you put down and what the residual was at the time. When I got my 330ci, I only put down 2k.


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