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10-10-2007, 03:55 PM | #1 |
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Calling any M3 LEASING experts
This is all hypothetical of course (No MSRP or rates out yet)..............
But with a ball-park figure, say............$66,000 (with a few options and praying the the base price is in the mid to high 50's) on a new M3 and with about a .0025 MFand residual of say 63%........... Trying to figure out or get an idea what would it take to get into a new M3 with about a $700 a month payment. How much down payment would it have to be to come close to that figure. Again just a guestament. Tried a few of those lease calculators, but the figures seem to be all over the place. |
10-10-2007, 04:32 PM | #4 |
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With the figures you gave (I was assuming a selling price of 66k) and the residual % you gave, you would need a cap cost reduction of about 8000 to get in the range on 700/month. With no money down your price would be around 950/month. I think your MF is a bit conservative however, on a new car such as the M, you're going to be paying around .003, at least. Good luck, I'm sure some more concrete numbers will come soon, really hard to guess on the residual %, that is going to make a big difference in payment. I would say the residual is going to be lower than that, but just my guess.
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10-10-2007, 08:58 PM | #5 |
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So after negotiating the sticker price............M cars command a higher money factors than non M BMW's?? I assume both are going to be difficult on negotiating because of it being a BRAND NEW "M". Doesn't credit ratings also affect what the MF would be too?? And is it, the lower the residual the lower the payment will be??
Damn thats a good chunk a change for a lease downpayment, but I guess it goes with what kind a car it is. Striving for that $700 payment................time will tell. |
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10-11-2007, 08:23 AM | #6 | |
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Most new models that come out have subvened rates in order to help sales, so the MF are typically a little bit lower. Anytime there is a new "hot" model they typically will just charge standard MF, which can vary by your credit rating and location. So assuming you have great credit, a MF might be like .00320, and that's before any dealer markup on the rate. |
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10-11-2007, 11:16 AM | #7 | |
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Quote:
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10-11-2007, 12:51 PM | #8 |
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Drives: 17' X5M/91' 325i
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Location: Chicago, IL
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Garage List 2017 X5M [0.00]
2014 X5 50i MSport [0.00] 2011 X5 35i SA [0.00] 2007 X3 3.0si [0.00] 2007 335i [0.00] 2003 330Ci [0.00] 1991 325ic [0.00] |
My 2007 335i (priced at $54k w/tax) is over $800 a month for a 36 mo./36k mi lease in Illinois. Here are your numbers (in IL, sorry we get screwed on the tax and my calc. takes that into account). Your tax is going to vary, for me it is 7.25%. It assumes full MSRP as the selling cost.
MSRP - $66k Cap Cost - $66k MF/APR - 0.00250/6% Residual - 63% Tax (7.25%) - $4785 Finance Amount (per mo.) - $268 Dep. Amount (per mo.) - $678 Tax Amount (per mo.) - $132 Total Monthly - $1078 A cap cost reduction of $8k gets the payemt to $800 in IL. I'm sure you can find some good lease calcs. online, mine is in Excel since the online versions don't take into account the crazy lease tax laws that exist in IL and TX. Hope that helps.
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10-11-2007, 03:34 PM | #9 |
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10-11-2007, 04:41 PM | #10 |
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Drives: 17' X5M/91' 325i
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Garage List 2017 X5M [0.00]
2014 X5 50i MSport [0.00] 2011 X5 35i SA [0.00] 2007 X3 3.0si [0.00] 2007 335i [0.00] 2003 330Ci [0.00] 1991 325ic [0.00] |
Sure it can be done...if I put enough down (cap cost reduction) I could get a payment down to $10 a month.
For shits and giggles, you'd have to put down $33,100 to get a $10/mo. payment in IL. Does it make sense to put a lot down on a lease to lower the payments? Maybe, but if you can invest that money and get greater than a 6% return (based on the MF in the OP of 0.0025) then why not invest it?
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10-11-2007, 10:47 PM | #13 |
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Wow. I pay only $942/mo (with taxes) for my 2007 M5...but I got lucky. But it'll be well over $1K for sure on the new M3s. I'm going to try to goad my fiance' in picking up the M3 once her lease is up on the 330i
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10-12-2007, 12:24 AM | #14 |
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Can you hook me up with an M5 at $1k a month in a year?
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10-12-2007, 11:48 PM | #15 |
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No..........I realize there is no way to even get close to a $700 range payment based on a NO money down situation or even minimal DP.
Just wondering what kind of down payment would be needed for that kind of payment. And by the looks of it...............about 8 to 10K OUCH! My states sales tax is 6% by the way. I guess I'll have to wait and see............. |
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10-13-2007, 12:20 PM | #16 | |
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In the past, my M3 payments have varied by $100 based solely on money factor/residual; both M3's were priced about the same (...$55k). |
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11-07-2007, 11:56 AM | #17 |
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I am going to agree with most ppl, those numbers are very conservative and IMO BMWNA would not give such nice numbers on such a highly anticipated car, keep in mind that 335i convts. were approaching $1000 a month on a lease compared to about $700 for the coupe and the MSRP alone is not enough to warrant that difference but the MF and Resid slightly changes, so you could only imagine what kind of numbers they will put on the M3, honestly I think they will approach $1,200 a month with now down payment when they first come out, but again that is just my opinion
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