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      10-19-2010, 09:48 PM   #1
M3maniac20
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M3 Monthly Payments-Input needed Please!

I have my car on order and it should be arriving in a few weeks:

problem: the numbers I come up with are a lot less than the ones I get from the dealership-even when using a lease calculator
Numbers:
The car is $75,515 and final price is $73000
I would have the car for a 36mo lease with 15,00 miles-residuals are 57%
I am putting $10,000 down on this car from my trade in/sold car-so the price is $63k. Taxes are 6.25% in Texas.
When I calculate the numbers using a 4% interest rate (I think this is in the ball park) I get $777 a month yet everything else Have gotten is in the $1,000-$1,400 a month. I don't see how this is possible with 10k down.

Please tell me what you are guys are paying and point out if I am wrong in an area.
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      10-19-2010, 10:03 PM   #2
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10k down on a lease is a no no..........
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      10-19-2010, 10:06 PM   #3
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I agree, any money you put down is a complete waste...$0 down if you can and wrap all the fees and taxes into the payment
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      10-19-2010, 10:10 PM   #4
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Quote:
Originally Posted by mrkbbd View Post
I agree, any money you put down is a complete waste...$0 down if you can and wrap all the fees and taxes into the payment
Right, but the money is from a trade in. I don't really care that I won't get that money back in the end. The issue is monthly payments themselves and how to get them down into the $700-800 range
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      10-19-2010, 10:34 PM   #5
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You might want to use 10k do to multiple deposit to bring down money factor.

Good luck
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      10-19-2010, 11:03 PM   #6
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The problem with money down on a lease is this:

You drive off the lot and a bus smashes into you. You lose that $10k. Insurance pays off BMW Leasing, and you're left $10k poorer.

Am I right or am I mistaken?
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      10-19-2010, 11:08 PM   #7
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Keep the 10 k in the bank and pay out the lease from that money. The money factor is currently .00180 on coupes. Multiply by 2400 on you get the inerest rate. Go to ridewithg.com and figure out the rest using the numbers and his lease calculator, most importantly never shop payments always shop the "buy" number. That will lower your payment the most.
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      10-19-2010, 11:10 PM   #8
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Quote:
Originally Posted by M3maniac20 View Post
I have my car on order and it should be arriving in a few weeks:

problem: the numbers I come up with are a lot less than the ones I get from the dealership-even when using a lease calculator
Numbers:
The car is $75,515 and final price is $73000
I would have the car for a 36mo lease with 15,00 miles-residuals are 57%
I am putting $10,000 down on this car from my trade in/sold car-so the price is $63k. Taxes are 6.25% in Texas.
When I calculate the numbers using a 4% interest rate (I think this is in the ball park) I get $777 a month yet everything else Have gotten is in the $1,000-$1,400 a month. I don't see how this is possible with 10k down.

Please tell me what you are guys are paying and point out if I am wrong in an area.
You are out of your mind. How can you not care about not getting 10 k back. On a lease you always put down as little as possible, fees at most. You can lose 10 K first day if car us totaled which we never think will happen or if stolen. I think as mentioned above use MSDs which will be almost 7 k which you get back at end of lease and it will lower your MF. The rest use towards the fees. Just to give you an idea my car a E 93 MF and residual a little better then the coupe, about 825 month 2300 for fees, 10k ,36 months. MSRP 79025 paying 73400, 4500 off MSRP. YOU need a honest dealer.

I bet you went and let dealer know you were trading car in for you're new car that's a no no. Make deal close to invoice then work in your trade. Be patient and be ready to reorder from a new dealer if need be.
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      10-20-2010, 12:02 AM   #9
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Quote:
Originally Posted by M3maniac20 View Post
I have my car on order and it should be arriving in a few weeks:

problem: the numbers I come up with are a lot less than the ones I get from the dealership-even when using a lease calculator
Numbers:
The car is $75,515 and final price is $73000
I would have the car for a 36mo lease with 15,00 miles-residuals are 57%
I am putting $10,000 down on this car from my trade in/sold car-so the price is $63k. Taxes are 6.25% in Texas.
When I calculate the numbers using a 4% interest rate (I think this is in the ball park) I get $777 a month yet everything else Have gotten is in the $1,000-$1,400 a month. I don't see how this is possible with 10k down.

Please tell me what you are guys are paying and point out if I am wrong in an area.
Monthly payment should be about $1050+tax with $2500 out of pocket for 1st month and fees. You can get that down a bit with security deposits, but honestly I'd just take the cash. An E93 is actually a better/cheaper lease because of the higher residual, but that's not for everyone.

If you insist, with $7500 down, $1500 fees, and first months payment for roughly your $10k, I get $819+tax.

If you're unsure about their numbers, the only thing to do is ask them for all of the numbers they're using and go through them yourself to see where they're adding the pork. They sometimes try to make it look like voodoo and blame the computer, but it's all there plain to see.

I've found that Carmax has offered me more than dealers do, and they'll just cut you a check and you're out of there.

Last edited by sor; 10-20-2010 at 12:09 AM.
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      10-20-2010, 12:21 AM   #10
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Quote:
Originally Posted by jacobbmw View Post
Keep the 10 k in the bank and pay out the lease from that money. The money factor is currently .00180 on coupes. Multiply by 2400 on you get the inerest rate. Go to ridewithg.com and figure out the rest using the numbers and his lease calculator, most importantly never shop payments always shop the "buy" number. That will lower your payment the most.
I heard the money factor dropped a bit in September, did it go back up? I just heard it on the forum, haven't looked for sure since I'm locked at .0018 and my car doesn't show up until November anyway.
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      10-20-2010, 02:52 AM   #11
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You can do better on the final price. With the lease payments you're getting quoted, you might as well buy the car with $10k down and 1.9% for 72 months. Even if you sell the car after 3 years you'll be better off than if you lease it and the payment won't be much more. If you came up with just a few grand more out of pocket, say $5000 to cover the sales tax and registration/title fees, and the payments would be $865 or so a month.

Also, you should try printing out your lease calculation and showing it to the dealer as an offer to lease the car. The salesmen will usually just go directly to the manager and come back with an answer. At the very least it forces them to explain why they can't match the offer. The one on Edmunds.com is good as it has separate line items for trade-ins, taxes, title fees, down payments and so on, so you can you account for every aspect of the deal clearly (otherwise the dealer will find an excuse to question the calculation).

Last edited by Herms; 10-20-2010 at 02:58 AM.
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      10-20-2010, 06:08 PM   #12
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Ditto on using edmunds.com or another calculator to determine what the proper lease payment should be. One other thing to keep in mind, in Texas, you don't have to pay tax on the amount received from your trade in. Without getting into the wisdom of putting $10K down on a lease, if you do go that route the dealer should only be charging you taxes on $63K rather than the full purchase price of $73K, saving you of $625.00.

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      10-22-2010, 10:58 AM   #13
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Why lease? if you are not a business owner you dont have any way to write it off against your taxes and really arent benefitting all that much from this. A purchase loan would give you a better interest rate. I currently have a 2.59% apr on my 60 month term which allows me to actually pay it off faster than 60 months (no more than 36 months) I was 61k out the door on my cpo e90 m3. put 18k down between cash and trade value so I am financing 43,000. payment monthly is 765.67. if your lease is to cost you 1200 a month or thereabouts you may just want to do the purchase loan for 5 years at $63,000 financed giving you $1120 monthly at my rate or $1150 at a 3.5% rate.

usually benefits that go with leasing are that you have coverage of maintenance and whatnot... in this case you already have that with the bmw warranty so there may be no benefit to leasing.
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      10-24-2010, 11:07 PM   #14
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In Texas, you pay interest and sales tax on the residual portion as well, not just the 'rent' portion.
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