BMW M3 Forum (E90 E92)

BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read


Go Back   M3Post - BMW M3 Forum > M3 Marketplace > Private Sellers - For Sale / Trade / Wanted > Cars for sale/wanted/trade
 
Strasse Wheels
Post Reply
 
Thread Tools Search this Thread
      01-16-2010, 11:45 AM   #1
OldRanger
New Member
1
Rep
24
Posts

 
Drives: Jerez Black M3
Join Date: Jun 2008
Location: SC, USA

iTrader: (0)

2008 Sedan 6MT For Sale or Lease Assumption with $5K Incentive

BIMMERPOST / Classifieds
Asking Price:
None
Item Interest
Jerez Black Metallic with Silver Novillo Extended Leather interior. Cold Weather Package, Fold Down Rear Seats, Premium Package, Technology Package, 19" wheels, Moonroof, Fully optioned sound system: Enhanced Premium Sound, iPod and USB Adaptor, HD Radio, Satellite Radio. I'm a BMWCCA member, this is my 4th BMW, my second M and it is an incredible machine.

I have it on Auto Trader for $47,000.

For a Lease Take-Over option, check here: http://www.leasetrader.com/2008_BMW_M3_148540.xhtml

Frankly, taking over the this lease is probably the way to go with this car. I have an Incentive offered to lower lease payment from $1261 down to $925. There are 1,485 miles p/month left on the lease; hence the reason I'm getting out now with approximately 16 months left of the contract. The residual is $36,620 - so if you wanted to keep it at the end, that's a pretty good deal.

My email is acrichter@charter.net.
Cheers
Andy

Attached Images
  

Last edited by OldRanger; 02-08-2010 at 05:23 PM.
Appreciate 0
      01-16-2010, 05:49 PM   #2
OldRanger
New Member
1
Rep
24
Posts

 
Drives: Jerez Black M3
Join Date: Jun 2008
Location: SC, USA

iTrader: (0)

Sticker Details

Here's the window sticker...
Attached Images
 
Appreciate 0
      01-18-2010, 03:21 PM   #3
OldRanger
New Member
1
Rep
24
Posts

 
Drives: Jerez Black M3
Join Date: Jun 2008
Location: SC, USA

iTrader: (0)

Pics

Just shoot me a PM if you want additional photos.

Last edited by OldRanger; 02-08-2010 at 05:24 PM.
Appreciate 0
      01-20-2010, 11:30 AM   #4
OldRanger
New Member
1
Rep
24
Posts

 
Drives: Jerez Black M3
Join Date: Jun 2008
Location: SC, USA

iTrader: (0)

Here are some of the questions I've received:

[Q]May i ask the in service date? im guessing there' 28 mo left on the warranty?
[A] You are correct - the BMW Warranty has 28 months left, and this car also has Maintenance for 4yrs/50K miles. This sounds trivial, but it covers brake pads and rotors which will need replacement before the end of that period, so it matters.

[Q]any issues or problems?
[A] Maintenance Issues: within the first 100 miles I had one of the front dampers (shocks) replaced. The electronically controlled valve for the EDC failed. I had the glove box lid replaced because it was scratched on delivery. I will have two small interior plastic pieces replaced because the matte finish is peeling. Otherwise is it a strong, reliable vehicle.

[Q] i'm a bit unfamiliar with leasing, why do you suggest its a better deal to lease? with 16 mo left on the lease thats 16000+taxes in payments. With the residual at 36k it seems like a buyout is a better plan?
[A] I suggested leasing based on my experience, but it may not fit with your goals. I gave that recommendation because for a small % more money than buying it outright...a Lease gives you options. If life changes, or if the M isn't everything you expected (and more) you could walk away without the hassle of selling it. If you want to keep it at the end, you could finance the $36,620 and never risk being "upside down" on it. Or you could even buy it from BMW intending to sell it yourself for potentially more $ than the residual. This car will likely be worth more than the residual at 36 months becaue I've under-utilized it and the mileage will be less at 36 months than was factored in to the lease contract. (I planned 45K miles and I'm on track for about 38K.) I've already taken the big hit on depreciation with my downpayment + I'm paying an incentive to get the lease payment down to $925.

Now the flipside: I specifically bought the 6MT for durability, thinking I would keep this vehicle beyond warranty. So in my mind, when I leased it I was planning to buy it at the end of lease.



[Q] is there a cpo option?
[A] I'm not sure if BMW is CPO'ing the current M's. But there are aftermarket
warranties available.


[Q] why are you getting out?
[A] I'm getting out of the car because I'm uncomfortable sitting in the position it provides. This is related to an injury I've had, so it's just me. I'm just not getting out in the car and driving for fun anymore. It's a good car - I will miss it, and I'll miss the hobby. Before this car I had an E39 M5 that I maintained/repaired/modified myself, and before that a 525i, and before that a 528e. I really don't think it can get much better than the M3 Sedan. The suspension is brilliant.

[Q] The monthly payments seem higher than many of the other leases
Ive seen but the residual is lower. Is the lease structured in a different way?
[A] The big difference (I presume) in my lease is that I have 15,000 miles/year factored in. By comparison, most of the other M3s on LeaseTrader seem to have 12,000 miles/year (or less). But low residual is good for the Lessee if you plan to keep it. And in this case, with my incentive I'm offering to effectively make the monthly lease payment $925...whomever might choose to assume this lease is getting the best of both worlds. (That is: a reasonable payment and low residual with the likelihood of only about 38K miles at the 36 month mark). Down-payments and other fees at the sale are a factor too.

RLTW!
Andy

Last edited by OldRanger; 02-08-2010 at 08:15 PM. Reason: changed lease payment to reflect new incentive
Appreciate 0
      01-20-2010, 12:05 PM   #5
OldRanger
New Member
1
Rep
24
Posts

 
Drives: Jerez Black M3
Join Date: Jun 2008
Location: SC, USA

iTrader: (0)

Safe-Lease Excess Wear & Tear Protection

I also have an Excess Wear & Tear Protection warranty that covers up to $5,000 in charges defined as excess wear and tear by BMWFS. This coverage includes tires if they are below spec. (I paid $750 for it) Per a Safe-Lease underwriting rep:

"In response to your email, your warranty is transferrable. We require the new lessee to send in their new registration, copy of the lease transfer, copy of the original warranty and a $25 transfer fee. We also request previous owner to send in request to transfer policy. My contact information is below if you have any questions."

Safe-Guard Products International, LLC
www.safe-guardproducts.com
Appreciate 0
      01-20-2010, 01:52 PM   #6
BlindGoldfish
Private
3
Rep
92
Posts

 
Drives: e90
Join Date: Oct 2009
Location: Wisconsin

iTrader: (0)

I know this doesn't really help your cause, but if you were local you wouldn't be sitting on this lease any more...
Appreciate 0
      01-28-2010, 03:15 PM   #7
OldRanger
New Member
1
Rep
24
Posts

 
Drives: Jerez Black M3
Join Date: Jun 2008
Location: SC, USA

iTrader: (0)

Re-evaluated the market - $5,000 incentive

So, if you want to drive an M3:

I re-evaluated the market today and decided to increase my incentive for assuming the lease on my M3 to $5,000. Yep. That puts the payments at $925 for whatever lucky person takes the dive. To the best of my knowledge, the following fees are all that are associated:

1) a $500 Lease Transfer fee paid by the new Lessee, and the new Lessee must be approved by BMWFS.

2) At lease end, there is a apparently a $350 disposition fee if you don't buy it or lease another vehicle.
Appreciate 0
      01-28-2010, 11:48 PM   #8
NlckyBlack
Captain
NlckyBlack's Avatar
Greece
6
Rep
615
Posts

 
Drives: Too many cars
Join Date: Sep 2009
Location: Bergen County, NJ

iTrader: (0)

car looks good and a good deal. Is anybody currently getting approval from BMW FS? still available?
Appreciate 0
      01-29-2010, 08:41 AM   #9
OldRanger
New Member
1
Rep
24
Posts

 
Drives: Jerez Black M3
Join Date: Jun 2008
Location: SC, USA

iTrader: (0)

still available

Yes, it is still available.

This past week, I added a substantial incentive which has interested quite a few people. I agree, this is a great deal. Especially on the lease. Short term (16 months) $925/month with over 1,400 miles p/month left...and the peace of mind that comes with the Safe Lease warranty.

Then a low residual of $36,620 in May of 2011 if you want to keep it.

Should be a no-brainer for anyone looking for an M3 Sedan.
Appreciate 0
      01-29-2010, 12:43 PM   #10
NlckyBlack
Captain
NlckyBlack's Avatar
Greece
6
Rep
615
Posts

 
Drives: Too many cars
Join Date: Sep 2009
Location: Bergen County, NJ

iTrader: (0)

send me the documents to start the lease transfer process. Nbabalis@gmail.com
Appreciate 0
      01-29-2010, 03:52 PM   #11
OldRanger
New Member
1
Rep
24
Posts

 
Drives: Jerez Black M3
Join Date: Jun 2008
Location: SC, USA

iTrader: (0)

Hi Nick - I've sent an email directly to you.

For anyone else that might be interested, I initiate the process. I call BMWFS with your full name and email, they send you a link for an online Application process.
Appreciate 0
      02-01-2010, 10:41 PM   #12
OldRanger
New Member
1
Rep
24
Posts

 
Drives: Jerez Black M3
Join Date: Jun 2008
Location: SC, USA

iTrader: (0)

For those that are interested, I have not heard back from Nicky Black - so if you have any questions or are interested in this lease - pls. shoot me a PM.

Thanks
Andy
Appreciate 0
      02-08-2010, 05:27 PM   #13
OldRanger
New Member
1
Rep
24
Posts

 
Drives: Jerez Black M3
Join Date: Jun 2008
Location: SC, USA

iTrader: (0)

Remember to go for Extended Leather...if I remember correctly - this is the option that brings the leather on to the knee bolsters and center console, and with the Silver Novillo - that really brightens up the interior
Attached Images
 
Appreciate 0
      03-10-2010, 09:58 PM   #14
michaelpnett
Private First Class
6
Rep
169
Posts

 
Drives: 2008 AW E92 M3; 2012 X5M
Join Date: Jan 2010
Location: long Island

iTrader: (0)

Still for sale?
Appreciate 0
      03-10-2010, 10:23 PM   #15
saeedg48
Brigadier General
Iran
132
Rep
3,499
Posts

 
Drives: 12 CLS63 + 14 M6 C
Join Date: Nov 2008
Location: Unknown

iTrader: (1)

that's a badass color combo!
__________________


2008 M3 Sedan + TestPipes + Tune [sold]

2012 CLS63 AMG + P30 Performance Package
2014 M6 Coupe + AMS Downpipes + KW V3
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 04:56 PM.




m3post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST