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      02-20-2010, 11:21 PM   #1
Vaheb
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Something wrong?

Can someone please tell me something is wrong in this situation.

I went to the dealer to look at an M3 that I saw online cause I'm ready to pull the trigger on a 2010. It was fully loaded basically and the price was 70,xxx.

I'm not really a buy person and I wanted to lease for three years.

He told me the price would be around $1500 a month with 10k down.

There has to be something wrong because I am paying 2k a month for a CL550 with 4k down. The CL is worth 125,xxx.
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      02-20-2010, 11:32 PM   #2
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It does sound kind of high. To evaluate a lease deal, you need to find out these #s from the dealer:

- MSRP
- Negotiated selling price
- Residual
- Money factor
- Term, miles/year
- Sales tax rate
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      02-21-2010, 01:47 AM   #3
///M Rakete
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Quote:
Originally Posted by Vaheb View Post
Can someone please tell me something is wrong in this situation.

I went to the dealer to look at an M3 that I saw online cause I'm ready to pull the trigger on a 2010. It was fully loaded basically and the price was 70,xxx.

I'm not really a buy person and I wanted to lease for three years.

He told me the price would be around $1500 a month with 10k down.

There has to be something wrong because I am paying 2k a month for a CL550 with 4k down. The CL is worth 125,xxx.
I would believe $1500 per month including sales tax and nothing down still leaving the dealer with a very respectable profit. There is most definitely something wrong here. Are you sure he wasn't meaning 10k miles per year?
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      02-21-2010, 02:57 AM   #4
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hmmmm......

Quote:
Originally Posted by Vaheb View Post
Can someone please tell me something is wrong in this situation.

I went to the dealer to look at an M3 that I saw online cause I'm ready to pull the trigger on a 2010. It was fully loaded basically and the price was 70,xxx.

I'm not really a buy person and I wanted to lease for three years.

He told me the price would be around $1500 a month with 10k down.

There has to be something wrong because I am paying 2k a month for a CL550 with 4k down. The CL is worth 125,xxx.
Do you mind telling me which dealer u went??
leasing a 2010 with 10k down is kinda bs. 70,xxx msrp is really not a fully loaded. $1500 a month is the price for buying (loan). Price of leasing should be somewhere around $1000 a month.
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      02-21-2010, 05:08 AM   #5
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Quote:
Originally Posted by WCKL View Post
Do you mind telling me which dealer u went??
leasing a 2010 with 10k down is kinda bs. 70,xxx msrp is really not a fully loaded. $1500 a month is the price for buying (loan). Price of leasing should be somewhere around $1000 a month.
I double checked a million times.. I went to BMW of Monrovia.

I'm gonna go again tomorrow and speak to a more knowledgeable person.

70,xxx had Nav, premium package, technology package, DCT, iPod, and all those goodies. Seemed full to me.

I knew what he said was outrageous, hopefully I can get something around $1000 with about 5k down, hopefully less.

What would you guys pay?
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      02-21-2010, 06:13 AM   #6
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May I ask who you talked to at BMW of Monrovia?
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      02-21-2010, 08:43 AM   #7
///M Rakete
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Here's an example:

2010 M3 Coupe with everything except 19" wheels (2MT):

$74,755 Retail
$68,810 Invoice

Add to that invoice amount...

$380 MACO (added by BMWNA to the invoice, paid by the dealer)
$180 Training Fee (added by BMWNA to the invoice, paid by the dealer)
$1,500 profit (just an example)
$45 documentation fee

...and you get a Cap Cost of:

$70,915

Assuming no Cap Cost Reduction, a term of 3 years @ 10k miles per year giving a residual of 54% and a buy rate MF of 0.00245 (no MSDs), and the lease acquisition fee at the buy rate of $725...

The monthly payment including CA sales tax will be $1,230.49 and the drive off will be $2,965.93 (includes first month's payment, the acquisition fee, sales tax on the acquisition fee, and DMV fees of $938.75).

A term of 3 years @ 15k miles per year would yield a monthly of $1,292.83 and a drive off of $3,028.27.

A term of 2 years @ 10k miles per year (58% residual) would yield a monthly of $1,567.43 and a drive off of $3,302.87.

So you can see a 10k down, or even a drive off, is ridiculous. You should also be able to get the profit down unless the car supply is running very short.
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Last edited by ///M Rakete; 02-21-2010 at 08:49 AM. Reason: Had to bump transportation to $875, MSRP/invoice pricing is pre-Jan 1
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      02-21-2010, 01:58 PM   #8
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Quote:
Originally Posted by Leonardo629 View Post
May I ask who you talked to at BMW of Monrovia?
I spoke to Joseph Mourad.
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      02-21-2010, 02:42 PM   #9
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Quote:
Originally Posted by Vaheb View Post
I spoke to Joseph Mourad.
try to talk to George if you can, he's the fleet manager/lease specialist.

I was quoted $1000 over invoice without negotiation from the following dealers

McKenna, Shelly, Crevier, and New Century. Dealer invoice should be around $500 (MACO + training) above the invoice posted here. I'm pretty sure this deal can be easily beaten.
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      02-21-2010, 03:49 PM   #10
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Quote:
Originally Posted by Leonardo629 View Post
try to talk to George if you can, he's the fleet manager/lease specialist.

I was quoted $1000 over invoice without negotiation from the following dealers

McKenna, Shelly, Crevier, and New Century. Dealer invoice should be around $500 (MACO + training) above the invoice posted here. I'm pretty sure this deal can be easily beaten.
Let's see what I can do, i'm about to head out right now.

Hopefully i'll return with a new car.
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      02-21-2010, 07:58 PM   #11
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WCKL

[quote=Vaheb;6767869]Let's see what I can do, i'm about to head out right now.

Hopefully i'll return with a new car. [/QUOTE

I recomed you to go New Century BMW, easier and nicer ppl to talk to. PM me if Monrovia didn't get you a good price, you can try to talk to my sales rep at NCB.
GL
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