Buy or lease sports or "toy" car?

[srvrf]

I've read the pros and cons of buying vs. leasing but my question is what do people here do with their "toys" that they will only drive maybe 5000 miles a year or less? I know this depends on things like price and collectability, but I'm thinking in the $75k USD or less range. I have a nice AWD daily driver for my short 10 mile/day commute with a BMW X6. I have just over 2 years on my lease and I am very happy with it. But as far as something fast and fun, I was looking along the lines of a Cayman or M2 so nothing extravagant. I live in the midwest so it will get garaged during the winter months. So I could see buying it outright and it should keep decent value and low mileage for years to come. I could also see trying to work out a low mileage lease because it won't get a ton of use and there almost certainly will be another car tempting me in a few years. And if I'm involved in even a minor accident, the lease gives me options to just return the car rather than take the hit on resale value. I'm sure many of you have asked and answered this question for yourselves so I'd appreciate any experiences and/or advice.

[.brian.]

https://www.youtube.com/watch?v=mzeW4ycpTWY

"If it drives, flies, floats, or f****, lease it.

[superdog]

I prefer to buy.

I lease my daily but only because it’s a near total business wrote off.

Everything else I buy.

[GoingPlaces]

Sounds like your already thinking that you're only going to keep it a few years and trade it. Lease is the best option for this scenario. If you were to keep it for long time, then buy.

[SDRider]

If you want a fun car it’s tough to beat the Lotus Elise. Get one of the earlier models as they are a bit lighter. A low mileage 2005 model can be had for around $35-40k and they actually hold their value really well. They only weigh around 1800lbs and they are powered by a Toyota engine and drivetrain so they are fairly reliable. They are tiny, have no power steering and because of the light weight and low center of gravity it is a very visceral car to drive. A true drivers car if ever there was one.

It’s a car that you could enjoy for a few years and then sell for about the same money you paid for it. I’ve been looking at them from time to time over the past 10 years or so and they just don’t seem to lose value at all unless they have been in an accident or have a salvage title.

[srvrf]

Originally Posted by SDRider

If you want a fun car it’s tough to beat the Lotus Elise. Get one of the earlier models as they are a bit lighter. A low mileage 2005 model can be had for around $35-40k and they actually hold their value really well. They only weigh around 1800lbs and they are powered by a Toyota engine and drivetrain so they are fairly reliable. They are tiny, have no power steering and because of the light weight and low center of gravity it is a very visceral car to drive. A true drivers car if ever there was one.

It’s a car that you could enjoy for a few years and then sell for about the same money you paid for it. I’ve been looking at them from time to time over the past 10 years or so and they just don’t seem to lose value at all unless they have been in an accident or have a salvage title.

They’re beautiful cars and a lot of fun to drive (according to my brother who owned one for a couple years). But I don’t have any local dealer/service and I really want some tech/creature comforts at my stage in life. That’s why he got rid of his.


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[SDRider]

Originally Posted by srvrf

They’re beautiful cars and a lot of fun to drive (according to my brother who owned one for a couple years). But I don’t have any local dealer/service and I really want some tech/creature comforts at my stage in life. That’s why he got rid of his.


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The Elise is pretty comfortable once you're in it but getting in and out is not something you can do gracefully, especially if you're over 5'10" tall.

[ckaynyc]

I would buy a low mileage pre-owned if you only drive 5K miles. Something on the bottom end of depreciation where if you decided to move on, you won't get hit too hard.

Personally, I would buy a low mileage E46 M3 with Competition Package for $35K-40K.

[superdog]

Originally Posted by ckaynyc

I would buy a low mileage pre-owned if you only drive 5K miles. Something on the bottom end of depreciation where if you decided to move on, you won't get hit too hard.

Personally, I would buy a low mileage E46 M3 with Competition Package for $35K-40K.

I’m always concerned with a used high performance vehicle.

I don’t want a car that someone else might have near to AJ!t.

[TeddyS]

If it’s a toy I buy them because I flip them regularly. If it’s a car I will keep two to three years then replace I lease them. With German cars especially remember spec is everything, the more design, media and sports packs you can get the better the resale. Oh and avoid red unless it’s a Ferrari


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[GB-man]

Depends on the lease program offered. If you want to be economical with that budget buy a clean cpo 911. (Aside from that awesome car)

[BNA/LION]

Buy

[CamSLC]

I'm a huge fan of leasing my daily driver for taxes and financial planning, but for a weekend car that will be driven minimally I would buy it. Probably look for something slightly used.

[incontrol]

I would buy a two year old toy and save a fortune.


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