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      08-30-2009, 07:39 PM   #1
Bama M3
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'08 Jerez Black E90 Lease Assumption- $698 per mo.

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Asking Price:
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4 Sep 09 UPDATE: IT'S GONE!

6MT Jerez Black with Fox Red interior w/aluminum trim. The car has every available option except for extended leather and DCT:

- Premium Pkg
- Technology Pkg with i-Drive and Navigation
- Cold Weather Pkg
- Enhanced Premium Sound
- Moonroof
- Forged 19" Wheels
- Park Distance Control
- Rear Window Shades
- iPod/USB
- Satellite Radio
- HD Radio

Original MSRP was $68,920.

The lease payments are $698 per month for 36 months, and the lease allows 10K per year. I leased the car through BMWFS on 28 Feb 09, so the lease runs through 28 Feb 12.

As of today, the car has 5,800 miles on it. It was new/untitled when I leased it in Feb 09, but it had 197 miles on the odometer. So the lease allows up to 30,197 miles through 28 Feb 12. You could also purchase additional miles for $.16 per mile (e.g., 1,000 additional miles would cost only $160).

The residual at the end of the lease is $37,906, and the current payoff is $58,427.

The car is in immaculate, perfect condition, with no scratches, dents, etc. It has never been in an accident. It is garage kept, and no one has ever smoked in or even near this car. I am beyond fanatical about taking care of cars.

A $1,000 down payment is required, and the person assuming the lease will be responsible for the BMWFS $500 lease transfer fee.

I've attached a few photos for your info.







Please feel free to contact me if you have questions.


Last edited by Bama M3; 09-04-2009 at 02:04 PM.
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      08-30-2009, 11:34 PM   #2
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Damn dude I would take this right now if I could get out of my car ha! Good Luck!
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      08-31-2009, 08:35 PM   #3
mastek
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$698 + tax or ..... $698 tax included (how much is ur state sales tax?)
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      09-01-2009, 08:32 AM   #4
Bama M3
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Quote:
Originally Posted by mastek View Post
$698 + tax or ..... $698 tax included (how much is ur state sales tax?)
My state (Virginia) does not add tax to lease payments, so $698 does not include any tax.
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      09-01-2009, 02:11 PM   #5
tightie
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2008 BMW M3  [3.95]
If you can get the car to California, we can work something out.
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      09-01-2009, 03:45 PM   #6
Bama M3
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Quote:
Originally Posted by tightie View Post
If you can get the car to California, we can work something out.
The person assuming the lease would be responsible for shipping if that is necessary. I would do whatever I could to make that process as simple as possible on this end, however. Please let me know if you need additional info. Thanks.
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      09-04-2009, 12:27 AM   #7
isugoo
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Quote:
Originally Posted by Bama M3 View Post
My state (Virginia) does not add tax to lease payments, so $698 does not include any tax.
Kinda wrong.
VA peeps pay sales tax on the full price of the car when they lease. So there is no separate payments like lease + tax thing. The tax is already included in the payment.

However in CA, CA peeps don't pay sales tax on the full price of the car when they lease. CA peeps only pay tax on the payment.

How do I know?
Cuz I still miss my favorite chili fries at the Silver Dinner in front of Tyson's Corner. =)
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      09-04-2009, 08:00 AM   #8
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Quote:
Originally Posted by isugoo View Post
Kinda wrong.
VA peeps pay sales tax on the full price of the car when they lease. So there is no separate payments like lease + tax thing. The tax is already included in the payment.
No, the tax is not "already included in the payment" as I paid the up front sales tax separately.
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      09-04-2009, 08:21 AM   #9
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Why are you getting rid of the car? Getting something else?
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      09-04-2009, 01:16 PM   #10
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I'm a bit surprised at all of the banter in this thread. Opportunities to assume one of the "fire sale" leases from last winter don't come up real often, let alone on a car with a color combo and options as sweet as this one and that appears to have been extremely well cared for. A new '09 model specced out like this car would lease for about $1200/mo right now with nothing out of pocket.

If I was in the market for an E90 I would have already submitted the credit app to BMWFS on it. I expect the OP will have a taker in a matter of days, if he doesn't already, and I'll offer my congrats to the new owner.

OP I'm sorry to see you parting with it, hopefully there's something better in the pipeline for you.
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      09-04-2009, 02:29 PM   #11
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Quote:
Originally Posted by Bama M3 View Post
No, the tax is not "already included in the payment" as I paid the up front sales tax separately.
That's what I'm saying.
In VA, you have to pay sales tax on the full car price up front.
your lease price include: car price + tax + title, tag etc. So you don't pay tax on your payment because you paid tax already when you signed the lease agreement.

In CA, you only pay sales tax on the monthly payment, not the car price. So when CA sales tax went up, every lease payment went up even though they leased their car 1-2 years ago.


And congrat! I knew it's not going to take that long to find a new owner.
It was such great deal for near VA peeps!
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      09-04-2009, 03:17 PM   #12
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Yep, I've decided to buy something else. I will certainly miss the M3 however.

Quote:
Originally Posted by Ben335 View Post
Why are you getting rid of the car? Getting something else?
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      09-04-2009, 03:19 PM   #13
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Quote:
Originally Posted by Angry3 View Post
I'm a bit surprised at all of the banter in this thread. Opportunities to assume one of the "fire sale" leases from last winter don't come up real often, let alone on a car with a color combo and options as sweet as this one and that appears to have been extremely well cared for. A new '09 model specced out like this car would lease for about $1200/mo right now with nothing out of pocket.

If I was in the market for an E90 I would have already submitted the credit app to BMWFS on it. I expect the OP will have a taker in a matter of days, if he doesn't already, and I'll offer my congrats to the new owner.

OP I'm sorry to see you parting with it, hopefully there's something better in the pipeline for you.
Thanks! I got someone lined up to assume the lease pretty quickly. I was actually overwhelmed by the response. I guess I should have asked for $5K down or so. I may have gotten that or something close to it.
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      09-04-2009, 03:20 PM   #14
Bama M3
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Quote:
Originally Posted by isugoo View Post
That's what I'm saying.
In VA, you have to pay sales tax on the full car price up front.
your lease price include: car price + tax + title, tag etc. So you don't pay tax on your payment because you paid tax already when you signed the lease agreement.

In CA, you only pay sales tax on the monthly payment, not the car price. So when CA sales tax went up, every lease payment went up even though they leased their car 1-2 years ago.


And congrat! I knew it's not going to take that long to find a new owner.
It was such great deal for near VA peeps!
I got ya. Thanks!
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