Planing to lease G80x

lucky15 · 10-20-2022, 02:09 AM

I Plan on leasing a new 2023 g80x, $90k. Build week 44. I was Using the "estimate payment" feature few months ago to get an idea. With a trade in of $10k and downpayment of $30k I was looking at $400-ish/month. However if I use the same numbers now I'm looking at about $1200/month. I understand all of this may sound odd but I am 100% sure I used the same numbers then vs now. Do these numbers sound right? If y'all don't mind me asking. What are y'all paying a month?

mjr24 · 10-20-2022, 03:44 AM

Quote:

Originally Posted by lucky15

I Plan on leasing a new 2023 g80x, $90k. Build week 44. I was Using the "estimate payment" feature few months ago to get an idea. With a trade in of $10k and downpayment of $30k I was looking at $400-ish/month. However if I use the same numbers now I'm looking at about $1200/month. I understand all of this may sound odd but I am 100% sure I used the same numbers then vs now. Do these numbers sound right? If y'all don't mind me asking. What are y'all paying a month?

$1200 a month for a $90k car with $40k down!? That doesn't sound right at all unless the Mafia or a drug dealer is lending you the money and even they offer lower interest rates than this here lease.

toolband66 · 10-20-2022, 04:29 AM

You are essentially leasing a 50k car after your trade in and downpayment. Plus, a lease is fraction of that amount since only paying for the lease terms. The 1200 does not add up accordingly. Hell, just finance and keep it

Gfit · 10-20-2022, 04:34 AM

I always lease but you need to do a lot more research on leasing and what happens with big cap cost reductions and totaled cars.

wtwo3 · 10-20-2022, 04:34 AM

Unless you're doing a one-pay lease... do NOT put money down on a lease (certainly not $40k holy shit).

But beyond that, yeah something is very obviously wrong... $1,200/month after $40k down is a true cost of $2,311. Clearly there's a calculation error in there because you're nearly paying the entire value of the car over 36 months.

vj123 · 10-20-2022, 06:32 AM

As others have stated above, don't put anything down on a lease unless its MSD which you get back.

Have you received money factor and residual information from your dealer. Once you have them, plug those numbers into the lease payment calculator in lease hacker forum and everything should be straightforward.

nal13 · 10-20-2022, 07:12 AM

Unless you get a tax benefit there is absolutely no reason to lease especially with that amount down. With current rates and car companies fleecing customers on leases I would use that money as the down payment and finance. Just my 2 cents.

MaxechosM3 · 10-20-2022, 07:13 AM

Pretty sure if you financed that it would be much cheaper. Even with the higher than normal interest rates. Your pretty much throwing away 40k.

Znomorph4theWin · 10-20-2022, 07:24 AM

+1 on financing with that kind of down payment.

LuvMyE92 · 10-20-2022, 07:47 AM

As others said, don't put down money on a lease.

Use leasehackr.com to help you run numbers.

Aalfred · 10-20-2022, 10:58 AM

Something is off. Did you put the residual value of the car. I put it as 40K after 3 yrs and its giving me $413/month at autolease calculator. If you didnt put a large down, per BMW, its about 1050/month

Gfit · 10-20-2022, 11:10 AM

Quote:

Originally Posted by Aalfred

Something is off. Did you put the residual value of the car. I put it as 40K after 3 yrs and its giving me $413/month at autolease calculator. If you didnt put a large down, per BMW, its about 1050/month

Base MF is .002 which is 4.8% equivalent. Many dealers mark it up to .0025

Aalfred · 10-20-2022, 11:52 AM

Quote:

Originally Posted by Gfit

Base MF is .002 which is 4.8% equivalent. Many dealers mark it up to .0025

Thanks. Update the MF and its still showing $487 for 0.002 and $537 for 0.0025. No where close to what the OP is getting. I think he forgot to put the residual value and its calculating the full cost.

lucky15 · 10-20-2022, 11:59 AM

That's what I was thinking, doesn't add up. This is would be my first lease. I've always bought used cars or end of lease cars from dealers.

Delmoney335 · 10-20-2022, 12:03 PM

LOL at 40K downpayment on a lease. Finance it please

Aalfred · 10-20-2022, 12:05 PM

Quote:

Originally Posted by lucky15

That's what I was thinking, doesn't add up. This is would be my first lease. I've always bought used cars or end of lease cars from dealers.

R u using the BMW estimator? Might be better to just use the Auto lease calculator and when its closer to delivery, the dealer should give u the money factor.

lucky15 · 10-20-2022, 12:09 PM

Quote:

Originally Posted by lucky15

I Plan on leasing a new 2023 g80x, $90k. Build week 44. I was Using the "estimate payment" feature few months ago to get an idea. With a trade in of $10k and downpayment of $30k I was looking at $400-ish/month. However if I use the same numbers now I'm looking at about $1200/month. I understand all of this may sound odd but I am 100% sure I used the same numbers then vs now. Do these numbers sound right? If y'all don't mind me asking. What are y'all paying a month?

Thanks for everyones reply. I had an idea the new numbers have to be wrong. I was considering buying the car at the end of the lease term. seems like I need to do more research. Many maybe wondering why am I leasing? Ive never had such a high end car before only ever driven Hondas. Ive worked on my own cars. I don't have any numbers from the dealer yet.

Delmoney335 · 10-20-2022, 12:14 PM

I think the question is why so much down payment on the lease instead of on a purchase? Leasing can make sense depending on situation but I think its consensus putting that much down lease is not wise.

lucky15 · 10-20-2022, 12:17 PM

Quote:

Originally Posted by Aalfred

Quote:

Originally Posted by lucky15

That's what I was thinking, doesn't add up. This is would be my first lease. I've always bought used cars or end of lease cars from dealers.

R u using the BMW estimator? Might be better to just use the Auto lease calculator and when its closer to delivery, the dealer should give u the money factor.

Yes the BMW estimate payment.

lucky15 · 10-20-2022, 12:21 PM

Quote:

Originally Posted by vj123

As others have stated above, don't put anything down on a lease unless its MSD which you get back.

Have you received money factor and residual information from your dealer. Once you have them, plug those numbers into the lease payment calculator in lease hacker forum and everything should be straightforward.

No new information from the dealer. Do they typical communicate more closer to time of delivery?

vj123 · 10-20-2022, 12:37 PM

Quote:

Originally Posted by lucky15

No new information from the dealer. Do they typical communicate more closer to time of delivery?

It will be locked when they do your credit application but they should be able to provide you the current numbers which would give you an idea. This way you can see if they are marking up the base rate from BMW.

Aalfred · 10-20-2022, 12:37 PM

Quote:

Originally Posted by lucky15

Thanks for everyones reply. I had an idea the new numbers have to be wrong. I was considering buying the car at the end of the lease term. seems like I need to do more research. Many maybe wondering why am I leasing? Ive never had such a high end car before only ever driven Hondas. Ive worked on my own cars. I don't have any numbers from the dealer yet.

Thanks for the explanation. If you are worried about being stuck with an expensive car that loses value or loss of value if you have an accident, then your reasoning makes sense. If after 3 yrs, you still like the M3 and want to keep it long term, u can just buy it then or finance ur loan. If you are able to pay the monthly payment without stretching ur budget, I would just go with the bare minimum down payment and use the money that u would put as downpayment to make money - either as a bond, index funds, high interest savings etc so u wont lose ur principle but still make money off it. So when you are ready to buy your car in 3 years, your 30K might be worth 40K now and you can either buy it outright or finance with a big downpayment and the interest rates might also be lower by then (hopefully). Just my 2 cents

10-20-2022, 02:09 AM	#1
lucky15 New Member 8 Rep 20 Posts Drives: g80x Join Date: Oct 2022 Location: Bay Area iTrader: (0)	Planing to lease G80x I Plan on leasing a new 2023 g80x, $90k. Build week 44. I was Using the "estimate payment" feature few months ago to get an idea. With a trade in of $10k and downpayment of $30k I was looking at $400-ish/month. However if I use the same numbers now I'm looking at about $1200/month. I understand all of this may sound odd but I am 100% sure I used the same numbers then vs now. Do these numbers sound right? If y'all don't mind me asking. What are y'all paying a month?
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10-20-2022, 04:29 AM	#3
toolband66 Private First Class 255 Rep 123 Posts Drives: 2022 M3 G80 Join Date: Apr 2022 Location: Vicenza, Italy iTrader: (0) Garage List 2022 BMW M3 Manual [0.00]	You are essentially leasing a 50k car after your trade in and downpayment. Plus, a lease is fraction of that amount since only paying for the lease terms. The 1200 does not add up accordingly. Hell, just finance and keep it __________________ 2022 M3 manual
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10-20-2022, 04:34 AM	#4
Gfit Lieutenant Colonel 2716 Rep 1,664 Posts Drives: 2023 X3M, 2024 X5M. Sold 2022 Join Date: Mar 2007 Location: Westchester, NY iTrader: (0)	I always lease but you need to do a lot more research on leasing and what happens with big cap cost reductions and totaled cars.
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10-20-2022, 04:34 AM	#5
wtwo3 Major General 17971 Rep 5,484 Posts Drives: 23 X7 40i; 23 M3; 24 cooper s Join Date: Aug 2019 Location: IL iTrader: (0) Garage List 2024 Mini Cooper S ... [10.00] 2023 BMW M3 [9.40] 2023 BMW X7 40i [9.75]	Unless you're doing a one-pay lease... do NOT put money down on a lease (certainly not $40k holy shit). But beyond that, yeah something is very obviously wrong... $1,200/month after $40k down is a true cost of $2,311. Clearly there's a calculation error in there because you're nearly paying the entire value of the car over 36 months. __________________ 2023 BMW X7 xDrive40i 2023 BMW M3 6MT 2024 Mini Cooper S Convertible '20 BMW m340i... '20 BMW X5 40i... '16 Infiniti Q50 RS 400... '10 Lexus RX 350... '08 Lexus IS 350... '00 Nissan Maxima... '93 Nissan Maxima
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10-20-2022, 06:32 AM	#6
vj123 Brigadier General 3790 Rep 3,625 Posts Drives: 2022 M3c - sold Join Date: Mar 2015 Location: The Detroit iTrader: (0)	As others have stated above, don't put anything down on a lease unless its MSD which you get back. Have you received money factor and residual information from your dealer. Once you have them, plug those numbers into the lease payment calculator in lease hacker forum and everything should be straightforward.
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10-20-2022, 07:12 AM	#7
nal13 Lieutenant 561 Rep 554 Posts Drives: M3 xcomp/911 cab/RR LWB Join Date: May 2007 Location: Fairfield County iTrader: (0) Garage List B [0.00]	Unless you get a tax benefit there is absolutely no reason to lease especially with that amount down. With current rates and car companies fleecing customers on leases I would use that money as the down payment and finance. Just my 2 cents. __________________ 2022 M3 xdrive IOMG/SS 2023 Porsche 992 4 GTS cab RubyStar Neo/Black/MT 2023 Range Rover P400 SE LWB Penguin
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10-20-2022, 07:13 AM	#8
MaxechosM3 Private First Class 702 Rep 165 Posts Drives: 2022 BMW M3 Competition Xdrive Join Date: Jul 2022 Location: Seattle iTrader: (0)	Pretty sure if you financed that it would be much cheaper. Even with the higher than normal interest rates. Your pretty much throwing away 40k.
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10-20-2022, 07:24 AM	#9
Znomorph4theWin Second Lieutenant 441 Rep 255 Posts Drives: 2023 BMW M3 Comp M xDrive Join Date: Aug 2022 Location: Toronto iTrader: (0)	+1 on financing with that kind of down payment.
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10-20-2022, 07:47 AM	#10
LuvMyE92 Occasionally frequent poster 3000 Rep 2,744 Posts Drives: CT5V-Blackwing Join Date: Jan 2008 Location: RTP NC, USA iTrader: (0)	As others said, don't put down money on a lease. Use leasehackr.com to help you run numbers. __________________ Current inventory: F22 & G05 Cadillac CT5-V Blackwing w/3 pedals Past: E24,E28(3),E34,E36,E37,E38(2),E39(4),E46,E89,E92 (obviously),F01,F06,F10,F30,F87,G12,G30(2),G82(2)
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10-20-2022, 10:58 AM	#11
Aalfred Colonel 2619 Rep 2,021 Posts Drives: 2023 M3CX, 2018 X3 M40i Join Date: Apr 2022 Location: Milwaukee,WI iTrader: (0)	Something is off. Did you put the residual value of the car. I put it as 40K after 3 yrs and its giving me $413/month at autolease calculator. If you didnt put a large down, per BMW, its about 1050/month Attached Images
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10-20-2022, 11:59 AM	#14
lucky15 New Member 8 Rep 20 Posts Drives: g80x Join Date: Oct 2022 Location: Bay Area iTrader: (0)	That's what I was thinking, doesn't add up. This is would be my first lease. I've always bought used cars or end of lease cars from dealers.
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10-20-2022, 12:03 PM	#15
Delmoney335 Captain 915 Rep 863 Posts Drives: 2021 BSM G80 comp Join Date: Feb 2010 Location: South FL iTrader: (2) Garage List 2015 BMW M4 [0.00] 2012 BMW M3 Coupe [0.00]	LOL at 40K downpayment on a lease. Finance it please __________________ 2021 G80 Comp
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10-20-2022, 12:14 PM	#18
Delmoney335 Captain 915 Rep 863 Posts Drives: 2021 BSM G80 comp Join Date: Feb 2010 Location: South FL iTrader: (2) Garage List 2015 BMW M4 [0.00] 2012 BMW M3 Coupe [0.00]	I think the question is why so much down payment on the lease instead of on a purchase? Leasing can make sense depending on situation but I think its consensus putting that much down lease is not wise. __________________ 2021 G80 Comp
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