Quote:
Originally Posted by nasa60
Yes, timing is everything. I wasn't even considering an M3 but the price was too good to pass up. When you combine below invoice pricing with near zero % interest rate, you get incredibly low lease payments on a $68k car.
I don't see BMWFS doing it again this year because they kept supply down. I saw others get even better deals than I got back in the January/February timeframe.
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Ahh, memories. Last winter was the perfect storm for BMW and the perfect time to lease one. The lease deals last winter were unlike anything I've ever seen or heard of, particularly with M3s, 335s, and 135s. Bad economy + oversupply of cars = crazy values.
I leased a 135 convertible right at the end of February and felt like I got a really good deal on it. The dealer I took delivery from had a $79K loaded E93 that he had marked down to net cost or a little below, and with the under 1% money factor a 36/10 lease would have been right at $760 a month plus tax with no cap cost reduction (standard inceptions). He had the car advertised on Bimmerfest at that price and it still took him more than 2 months to move it. I think even people who were financially secure were (and to some extent still are) hesitant to make any commitments. Plus having to deal with the stigma of rolling up in a new BMW during a global financial meltdown wasn't really something that excited people.
I would have loved to have had that M3, but the 135 made more sense given my situation. I had spent all of 5 minutes behind the wheel of a 1, and had to travel 600 miles to get the car I wanted, but I figured that unless the whole world came to an end I could pretty easily get the lease assumed if I ended up hating the car. Needless to say that didn't happen, the car is great and and looking back on it I don't know why I debated so long.
I don't expect to see deals like that again, but I think they will get better this winter when the leftover cars need to be cleared out. That's the best time to lease IMO, the values are great and the fact that the car is a model year old already is BMW's problem, not mine or yours
Any change in the lease terms on M3s would be nice, I don't think they can get any worse than they are now. If I were in the market now I would also be looking for one of the fire sale cars.
