Look at this money factor ...ouch!

[NoM3ForMe]

Here are both ‘deals’ I got from BMW of Bellevue (WA) over the weekend. The car is a 2009 M3 Sedan fully-loaded minus the Sirius Radio and Moonroof. As shown below, the MSRP is $70,550.

Option 1: 15k down

1) MSRP: $70,550.00
2) Residual Value %: 53%
3) Residual Value: $37,391.50
4) Capitalized Cost: $70,550.00
5) Term: 36
6) Lease Money Factor: .00360 (also 8.64%, Jesus!)
7) Customer Cash Down: $15,000.00
8) Protection Plans: $220.00
9) Total Add Caps (W): $925.00
Adjusted Cap Cost: $60,227.18
10) Cash Cap Reduction: $11,467.72
Base Monthly Rental: $985.75
11) Security Deposit: $1,100.00
12) Total Initial Fees: $288.25
13) Amount Due at Start: $15,000.00
14) Total Working Cash: $15,000.00
15) Total Monthly Payment: $1,077.42

Option 2: $650/month payment

1) MSRP: $70,550.00
2) Residual Value %: 53%
3) Residual Value: $37,391.50
4) Capitalized Cost: $70,550.00
5) Term: 36
6) Lease Money Factor: .00360 (also 8.64%, Jesus!)
7) Protection Plans: $220.00
8) Total Add Caps (W): $925.00
Adjusted Cap Cost: $47, 764.23
9) Cash Cap Reduction: $4,216.72
Base Monthly Rental: $594.69
10) Security Deposit: $1,100.00
11) Total Initial Fees: $288.25
12) Amount Due at Start: $28,194.58
13) Total Monthly Payment: $650.00

I about swallowed my tongue when he showed me the money factor. My God… how stupid and/or uninformed did he think that I am?! What’s more, when I mentioned the possibility of using a security deposit to lower the MF, their F & I department didn’t budge! Oh, the audacity!

Why do I have to love and obsess over such a pricey car?

[ring007]

Have them (or another dealer) find an '08 with similar equipment and colors shipped to you and you'll save a ton. I just recalc'd my lease using the December '09 residual and money factors with the $1,400 price increase and it was $450 MORE per month before tax (assuming $1,500 margin for the dealer). No cpu and tail light upgrades would be worth $16,200 (36 x $450) to me!

[KGLESQ]

Do these people at Bellvue BMW not watch the news? Are they seriously trying to gouge on an M3? Go to a dealer that gets it, and tell them you'll pay buy rate MF -whatever MSDs you put down, and $750 over invoice for the car (this on an '09). I would pretty much guarantee someone goes for it.

[positiveions]

they've been drinking alot

[michaeldorian]

I almost bought a car there and after asking what's seriously the best deal they can do, they came back with 1K off MSRP. He then said if you're close to that we can work something out.

Needless to say, I have an M3 from somewhere else. They're still living in a world where they think the Microsoft millioniares downt he street are paying a premium.

[NoM3ForMe]

Originally Posted by michaeldorian

I almost bought a car there and after asking what's seriously the best deal they can do, they came back with 1K off MSRP. He then said if you're close to that we can work something out.

Needless to say, I have an M3 from somewhere else. They're still living in a world where they think the Microsoft millioniares downt he street are paying a premium.

And what's worse is that they assume that since you work at Microsoft, you are a millionaire

I myself just completed a contract there and am now writing automation code at a company in downtown Seattle. And last I checked I am merely a thousandaire...

[michaeldorian]

Originally Posted by NoM3ForMe

And what's worse is that they assume that since are at Microsoft, you are a millionaire

I myself just completed a contract there and am now writing automation code at a company in downtown Seattle. And last I checked I am merely a thousandaire...

Same here. Just thousandaire