M3 Lease Prices?? Help
#1
M3 Lease Prices?? Help
Was wondering what my fellow 6 speeders are paying for the new m3 coupe lease? 3 years, 12k a yr. Im in Miami. Also, what transmission do you prefer. Went by Ft. Lauderdale BMW today, way too high, 1,284 a month with 3k down. I pay 200 less than that for my CLS.
#2
dual clutch
i just boughtdual clutch in las vegas . i have the only one in town ! they are only getting 1 more and it's sold already. i paid sticker price 72k loaded. financed 60 months 6.9 % $1500 a month $2500 down. i did buy the 1200 tire insureance also. they cant give the 6 speeds away and no1 wants the sedans either.
#4
Unfortunately, there are no factory subsidized lease programs on the M3 at all, so leasing is not really an option on an M3 right now, unless you're looking to get slammed. That may change in the foreseeable future (especially on the 4 door) since there are lots of them on the lots.
I purchased mine outright back in April and paid sticker, mine is a 6 speed, but I was the 2nd at the dealership (here in NJ). I understand local dealers in the NY/NJ area are discounting anywhere from $500 - $1500.
I purchased mine outright back in April and paid sticker, mine is a 6 speed, but I was the 2nd at the dealership (here in NJ). I understand local dealers in the NY/NJ area are discounting anywhere from $500 - $1500.
Last edited by njcycleguy; 08-05-2008 at 09:05 AM.
#6
I doubt that. Not on a 36mth lease with 3K down and 12K miles. More like $1800.00 to $2000.00 on a lease. Mine was around $1900.00 with msrp at 104K and 20K miles per year.
#7
I no leasing expert....Help me with my math.
For a $98,000 M5:
For June on 15k miles a year
2008 BMW M5 Sedan
24 Month – Residual 68% of MSRP – .00263 Base Rate
36 Month – Residual 55% of MSRP – .00263 Base Rate
48 Month – Residual 37% of MSRP – .00263 Base Rate
60 Month – Residual 28% of MSRP – .00263 Base Rate
Add 2% residual for 12k miles and 3% for 10k miles.
24months, 10k miles:
(Cap Cost [87,000] – Residual Value [71% of $98,000]) / Term = Depreciation
(Cap Cost + Residual Value) X Money Factor [0.00261] = Interest
Depreciation + Interest = Base Monthly Payment, plus taxes (6% here only on the cap less residual value) plus sec dep, first month.
(87,000 - 69,580) / 24 = 725.83
(87,000 + 69,580) x .00261 = 408.67
725.83 + 408.67= 1,134.50
Tax= (87,000-69,580)*.06/24=43.55
Total monthly payment= 1,134.50 + 43.55= 1,178.05 w/ first month and sec dep (waived for some or can buy down MF).
36 Months, 10k miles:
(Cap Cost [87,000] – Residual Value [58% of $98,000]) / Term = Depreciation
(Cap Cost + Residual Value) X Money Factor [0.00261] = Interest
Depreciation + Interest = Base Monthly Payment, plus taxes (6% here only on the cap less residual value) plus sec dep, first month.
(87,000 - 56,840) / 36 = 837.77
(87,000 + 56,840) x .00261 = 375.42
837.77 + 375.42= 1,213.19
Tax= (87,000-55,860)*.06/36=51.90
Total monthly payment= 1,213.19 + 51.90= 1,265.09 w/ first month and sec dep (waived for some or can buy down MF).
What am i missing here?
Obviously this depends on current residuals/MF and cap cost..In this case the MF is over 6%. If you are a well-rated returning BMWFS leasee, then you can get an even better rate than market.
I have seen at least 6 people secure similar deals in the past couple of months with similar discounting, MFs. As compared to a M3, you are getting a significant discount with a high residual. Even with it being a 98k car, the amount of "rent" you pay is similar to that of a MSRP M3 with possibly even less favorable leasing terms due to the popularity of the car.
You may be paying $2000/mo....but most people leasing the M5 right now are not paying anything near that amount.
Last edited by Kcdude; 08-05-2008 at 11:47 AM.
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#8
Thats a good breakdown of lease pricing! I'm in the market for something new, so im trying to learn as much about leasing as possible.
So the m3's aren't moving, eh? I'm obsessed with an s5, but the payments are horrible. How much less (than the m3) is the 335i? How about the 135i? If BMW is hurting, how much can ya get an x6 drive35i?
So the m3's aren't moving, eh? I'm obsessed with an s5, but the payments are horrible. How much less (than the m3) is the 335i? How about the 135i? If BMW is hurting, how much can ya get an x6 drive35i?
#9
M5 number is close to M3 now that's why i just got another M5 instead my ordered DCT M3. number didn't make sense to me. with both at close in numbers no doubt which is a better car. plus the MSRP on them was like 28k in difference. M5 being higher.
#10
if u want a better deal i suggest u to wait for 2~3 months. BMW has to have great program to be able to move the left over 08s. let's face it, my local dealers have about 10 or more M3s (sedan & coupe combined) each sitting at the lot. that's A lot of M to move...
#12
Ya at this point M5 is easier to get into compared to an M3 I think I want one cept the gas mileage would annoy me.And insurance is a whole other story.To bad my record is up in smoke I cant drive what I want because of it.
#13
It doesn't really matter what kind of car you are looking for....the basics of leasing only make sense in a few situations. To get the best deal, you need a 1) low money factor, 2) a cap cost that is a significant MSRP discount, and 3) a high residual.
This is NOT a M3, S5, or any other latest/greatest ride. The M5 is a compelling deal because:
1) You can get a low MF with a good credit score, by placing extra deposits to buy down the MF, and being a repeat BMWFS customer.
2) You can get these for anywhere from 1200 over to even a bit under dealer cost depending upon the length of time it has been sitting on the lot...i.e. 6sp cars.
3) With 10k miles per year, which is pretty typical for this car, you can get a 71% residual.
So when your cap cost is 88% of MSRP, your residual is 71% of MSRP, and the "interest" is low, you have a great deal. Not the case if you are paying MSRP+ with high mileage allowance 60% residual, with a high MF because of crappy credit. So IMO the only time it makes sense to lease are 1) if you have car ADD, want to keep it only a few years and are concerned about resale....HINT M5; and 2) you can run the lease through a business. Any other time....I'd just save up and pay cash....drive it and forget about payments, interest, residuals etc.
This is NOT a M3, S5, or any other latest/greatest ride. The M5 is a compelling deal because:
1) You can get a low MF with a good credit score, by placing extra deposits to buy down the MF, and being a repeat BMWFS customer.
2) You can get these for anywhere from 1200 over to even a bit under dealer cost depending upon the length of time it has been sitting on the lot...i.e. 6sp cars.
3) With 10k miles per year, which is pretty typical for this car, you can get a 71% residual.
So when your cap cost is 88% of MSRP, your residual is 71% of MSRP, and the "interest" is low, you have a great deal. Not the case if you are paying MSRP+ with high mileage allowance 60% residual, with a high MF because of crappy credit. So IMO the only time it makes sense to lease are 1) if you have car ADD, want to keep it only a few years and are concerned about resale....HINT M5; and 2) you can run the lease through a business. Any other time....I'd just save up and pay cash....drive it and forget about payments, interest, residuals etc.
Last edited by Kcdude; 08-06-2008 at 08:49 AM.
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