2005 M3 convertible lease or buy it now?

Question

i am going to purchase a 2005 M3 convertible with black exterior and red interior. car has 45K miles on it and leasing payment is $400 a month (3 years lease, 12000 maximum miles per year). plus sales tax and $995 down payment. They are offering to sell for $31K. which option is better: lease for 3 years or buy it now?

Answer 1

Don't lease a car and DO NOT lease a used car. Just buy the car, but make sure you get a warranty. Ms are expensive if they break down.

Answer 2

Never lease a used car. Always a horrible decision, especially since this one is almost out of factory warranty.

Buy it outright.

Answer 3

I guess you should also check insurance quotes for M3 before buying one, for example here: http://autoinsurance.hotusa.org

As I remember it is expensive to insure.

Financed cars is more expensive to insure cause it requires full coverage.