M3 lease takeover, high down payment - Good deal?

Skippy989 · 02-23-2010, 07:31 PM

I have been offered a fully loaded 08 M3 6MT sedan with 16k miles for $500 per month, $4500 down, 32k miles left on the lease.

The lease has 23 months left so by my calculations the payment would be $695 per month spreading the down payment over the term of the lease.

On the surface it looks like a great deal to me, despite the high down payment. My general rule with leasing is not to pay anything down beyond taxes and fees, but for this car I may have to break it.

I'm going to see the car tomorrow, is there anything in particular I should be wary of with lease transfers? The current leaser works for BMW so in my mind it helps to legitimize things a bit.

Jeff_DML · 02-23-2010, 07:36 PM

BMW financial service handles the transfer. I took mine to local shop to have it inspected, I just wanted to make sure there where no likely future warranty issues. The lease transfer process is a bit odd but works, they charge $500 plus tax.

mach330 · 02-23-2010, 07:55 PM

sounds ok to me. low 700's after tax a month is quite good.

02-23-2010, 07:31 PM	#1
Skippy989 New Member Drives: M3 Coupe 6MT E92 Join Date: May 2008 Location: Home Posts: 29 iTrader: (0)	M3 lease takeover, high down payment - Good deal? I have been offered a fully loaded 08 M3 6MT sedan with 16k miles for $500 per month, $4500 down, 32k miles left on the lease. The lease has 23 months left so by my calculations the payment would be $695 per month spreading the down payment over the term of the lease. On the surface it looks like a great deal to me, despite the high down payment. My general rule with leasing is not to pay anything down beyond taxes and fees, but for this car I may have to break it. I'm going to see the car tomorrow, is there anything in particular I should be wary of with lease transfers? The current leaser works for BMW so in my mind it helps to legitimize things a bit.
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02-23-2010, 07:55 PM	#3
mach330 You don't know JACK!!! Drives: 2011 X5 35i Join Date: May 2005 Location: The OC Posts: 797 iTrader: (3)	sounds ok to me. low 700's after tax a month is quite good. __________________ Rated /// M

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02-23-2010, 07:36 PM	#2
Jeff_DML Lieutenant Drives: 2008 M3 Sedan 6MT Join Date: Jul 2006 Location: San Diego Posts: 438 iTrader: (0) Garage List 2008 M3 Sedan [0.00]	BMW financial service handles the transfer. I took mine to local shop to have it inspected, I just wanted to make sure there where no likely future warranty issues. The lease transfer process is a bit odd but works, they charge $500 plus tax.