I was browsing around on Craigslist and came upon this ad:
BEAUTIFUL M3
White exterior / Black leather interior
Dual clutch system
Technology Pkg.
Fully Loaded
Carbon Fiber Roof
Premium Sound System
Navigation
You can either buy it outright for $56,000 or
assume my lease of $1309.10 per month for
the remaining 20 months of the lease term.
Residual is approx. $36,000.00
Seriously? A monthly LEASE payment of $1309? Or you can buy it outright for $56K which is $4000 over invoice on a brand new one. I wonder if this guy is good with his money. I’ve never heard of a lease payment on a vehicle being that high.
Dapper_Don says
This is my friends he posted it up.
Single Guy Money says
Wow, that’s crazy. Whether you can afford it or not. That’s more than most people’s mortgage payment. Yeah, I wonder what his finances are like too.
Shannon says
a $1300 a MONTH lease on a car is absolutely insane. That’s more than my mortgage. And my house isn’t depreciating as quickly!! I’m sooo glad I’m not into cars!!
Mike says
Being a CPA, I see read hundreds of car leases. Many luxury cars (high-end Jaguar, BMW 7 series) have monthly leases in the $900-1200 range. The $1300 does seem a couple hundred too high; perhaps it was a 24 month lease with very little down? And a $1300/mo mortgage? You have to be kidding me … maybe in Texas. Nearly all of my clients have mortgages that are 3x that amount, and many more have mortgages in the $10k/mo range. This is not very uncommon in the higher cost-of-living cities.