01-27-2022, 11:28 AM | #1 |
Lieutenant
720
Rep 469
Posts |
are these lease terms seem right?
hi, so finally got my production slot for mid march for the 3rd time now. Basically moved up to #111 again. Dealer is telling me i should finalize the financing since rates are supposed to go up in feb. My car is spec to $91,600. I'm getting quoted with $10k down and 12k miles @$1,176 with 8.25% tax. They are not giving me anything for the M3cs trade but basically a clean wash which sucks. Maybe I'll try to sell it private route, but honestly don't really want to buy it out and deal with it. If I do no money down, I got quoted $1500 for the payment.
Do those terms seem right? I thought with that down payment amount it would be less. Also, kinda doesn't make sense to put down a large payment since if anything happens to the car, I'll loose it. Should I consider maybe buying it instead? I usually lease cars, but not sure with this market.
__________________
Current: ///M3CS
Previous: E60 M5, E39 M5 Last edited by wasya152; 01-27-2022 at 05:03 PM.. |
01-27-2022, 11:37 AM | #3 |
Captain
360
Rep 632
Posts |
What do you mean they're giving you nothing for a trade in? As in they're not interested in buying your car? Sell it to a different dealer, I find it hard to believe nobody wants to take in a vehicle in an economy of 0 inventory
|
Appreciate
1
M4Tejas770.00 |
01-27-2022, 11:46 AM | #4 |
Captain
453
Rep 647
Posts |
Oh, they are getting what must be a lease turn-in, he just isn't realizing any type of gain. In other words, they aren't willing to give any monies above the residual and apply it to the new lease.
|
Appreciate
0
|
01-27-2022, 12:03 PM | #5 |
Major General
8471
Rep 5,357
Posts
Drives: 2022 Aventurin/SS G82 xDrive
Join Date: Feb 2007
Location: South Florida
|
Lease rates for G8X are terrible right now, either finance (either through traditional financing or select), and never put that much down on a lease.
|
Appreciate
3
|
01-27-2022, 12:36 PM | #6 |
Major
1857
Rep 1,137
Posts
Drives: Z4 M40
Join Date: Dec 2021
Location: GA
iTrader: (0)
Garage List 2015 Yamaha FZ-09 [10.00]
2018 BMW S1000XR [9.83] 2018 BMW R1200RT [10.00] 2023 BMW X4 [7.88] 2022 BMW Z4 [9.78] |
^^^ This, but also consider outside financing sources. Last I saw BofA had pretty good rates if you are regular customer of theirs.
__________________
2022 Z4 M40 Alpine White/Magma Red
2023 X4 30i MSport BSM/Cognac 2018 BMW S1000XR & BMW R1200RT 2015 Yamaha FZ-09 |
Appreciate
0
|
01-27-2022, 04:45 PM | #7 | |
Lieutenant General
18659
Rep 14,107
Posts
Drives: G82 M4C X-Drive
Join Date: Mar 2013
Location: Orange County, CA
|
Quote:
Also, I was able to sell for some money back on my M3 CS which had less thank 20k miles on it.
__________________
2022 G82///M4 Competition X-Drive - KW-HAS, EBC Bluestuff, Millway Race Camber Plates, Cup2 Connect*, PSI High Flow Midpipe, Lightweight Front Lip, M Perf Flow Through Wing Previous • 2018 F80 ///M3 CS • 2016 F80 ///M3 IG: Raging_G82 |
|
Appreciate
0
|
01-27-2022, 05:17 PM | #8 |
Lieutenant
720
Rep 469
Posts |
Yes. this is correct. turn it in and get no value, or buy it out and then have to sell it privately. but i'm not getting any equity from the dealer even though the buy out is $62k and these seem to go for around $72-75k right now.
__________________
Current: ///M3CS
Previous: E60 M5, E39 M5 |
Appreciate
0
|
01-27-2022, 05:20 PM | #9 |
Lieutenant
720
Rep 469
Posts |
I would have to do this privately. all the dealers and online places like carvana, carmax, etc are giving me the buyout amount for the car. It seems a lot of them are valuing it as a m3 instead of m3 cs, but still. I don't get it since you can't find a single one for under $75kish right now minus the one that Perillo has that has no HUD, no options, old version lights, and CCB brakes which are liability for 30k mile car.
__________________
Current: ///M3CS
Previous: E60 M5, E39 M5 |
Appreciate
0
|
01-27-2022, 05:40 PM | #10 | |
Lieutenant General
18659
Rep 14,107
Posts
Drives: G82 M4C X-Drive
Join Date: Mar 2013
Location: Orange County, CA
|
Quote:
__________________
2022 G82///M4 Competition X-Drive - KW-HAS, EBC Bluestuff, Millway Race Camber Plates, Cup2 Connect*, PSI High Flow Midpipe, Lightweight Front Lip, M Perf Flow Through Wing Previous • 2018 F80 ///M3 CS • 2016 F80 ///M3 IG: Raging_G82 |
|
Appreciate
0
|
01-27-2022, 06:46 PM | #11 | |
Captain
453
Rep 647
Posts |
Quote:
By the time you pay tax, title, etc on top of the car you would probably have to sell it yourself to make any money once you have the title which in some states takes way too long. Maybe you make a few thousand. |
|
Appreciate
0
|
01-28-2022, 09:26 AM | #12 |
Lieutenant
538
Rep 518
Posts
Drives: G82 M4, F15 X5, F30 328d, E30
Join Date: Nov 2018
Location: N.Miss / Memphis, TN
|
I am considering it.....what do people think about it around here?
__________________
2022///M4 Competition BSM / Fiona Red.
2023 X7 xDrive40i, BSM / Individual Ivory white/Atlas Gray over Piano Black MSport Pro and Prof. |
Appreciate
0
|
01-28-2022, 09:53 AM | #13 |
Captain
1569
Rep 989
Posts |
Wait... Not giving you anything for your trade?. In this current market Its almost impossible to not have positive equity. I Was able to sell my 18 F80 comp 6 speed to a wholesale dealer netting me back $20k on the lease. $12k down is crazy. I would not put anything down on a lease. Aside from paying the tax and fees upfront. Reach out to a wholesale dealer. If youd like I can give you the info for the one I used.
|
Appreciate
0
|
01-28-2022, 10:04 AM | #14 | |
Lieutenant
720
Rep 469
Posts |
Quote:
__________________
Current: ///M3CS
Previous: E60 M5, E39 M5 |
|
Appreciate
0
|
01-28-2022, 10:47 AM | #15 |
Captain
1569
Rep 989
Posts |
Yes it was before. But there are ways around it. He works with dealers that buy it out for him from BMW
|
Appreciate
0
|
01-29-2022, 10:50 AM | #16 |
First Lieutenant
334
Rep 354
Posts |
Putting aside the trade in issue, figuring out whether you should lease or finance is simple math. Your total lease cost will be $52k (36 x $1176 + $10k).
If you buy the car by putting 10% down and financing the rest over 6 years, your monthly payment will be $1360. (I've assumed $99k purchase price including tax and 2.9% apr). Over 36 months, that comes to $59k ($9.9k down + 36 x $1360). After 36 months, you then sell your car for $60k. After paying off the $40k you still owe, you pocket the $20k. $59k-$20k = $39k total cost if you buy. So you save $13k. Not a negligible savings. Given the rate of inflation too, there's no telling what your used m3 will sell for in 2025. You might get $70k for it and save even more money. |
Appreciate
0
|
01-29-2022, 10:58 AM | #17 |
Captain
891
Rep 869
Posts |
You can still sell a BMW privately from a lease. You just have to purchase it first. That means you pay tax on the residual, but if the spread is big enough, you should still come out ahead. You actually do have some leverage here. The dealership stands to make $10,000- $12,000 from your M3cs immediately. They'll arguably make more off your trade than your new car. I'd tell them that you want something off the top of your new car or you'll just sell the current privately. In this market, they should be somewhat agreeable.
__________________
2022 M3 xDrive, Brooklyn Grey over Tartufo
2021 Tesla Model Y 2019 MB AMG C43 (Sold) 2016 M235i xdrive, Alpine White, Terra Leather, Orbit Gray Wheels (Sold) |
Appreciate
0
|
01-29-2022, 01:44 PM | #18 | |
Lieutenant General
18659
Rep 14,107
Posts
Drives: G82 M4C X-Drive
Join Date: Mar 2013
Location: Orange County, CA
|
Quote:
__________________
2022 G82///M4 Competition X-Drive - KW-HAS, EBC Bluestuff, Millway Race Camber Plates, Cup2 Connect*, PSI High Flow Midpipe, Lightweight Front Lip, M Perf Flow Through Wing Previous • 2018 F80 ///M3 CS • 2016 F80 ///M3 IG: Raging_G82 |
|
Appreciate
0
|
Post Reply |
Bookmarks |
Thread Tools | Search this Thread |
|
|