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10-25-2009, 07:55 PM | #1 |
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When will E93 Lease Prices reach reasonable numbers (i.e. 2008 november, december)
hello everyone, i am in the market for an E93, and when i call around to price the car, it is leasing for about 1500, tax in, zero down for 36 months.. yet i personally know individuals who have the same car for $700 a month.. it just doesnt make sense for me to get the same car and pay double.. besides picking up someone elses lease.. can anyone give me good advice, or some proof on when it might be a good time to get this car...
thanks in advance, Steven |
10-25-2009, 08:08 PM | #2 |
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Not likely. All 08 M3 models were over-produced last year, because neither BMW, nor any other manufacturer saw the the big market crash coming. 09's were produced in much smaller numbers, as a result, so demand matches supply, much more closely. It's only when supply far exceeds demand that you see the crazy prices we saw on the 08 models.
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10-25-2009, 09:27 PM | #3 | |
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but the price right now is at the other side of the spectrum.. i believe it has to reach its parity, and that is somewhere between $900 and $1100 a month zero down tax in.. right now the residual is 49% and the money factor brings the interest rate to like 6.8% unreal.. any other opinions? |
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10-25-2009, 09:28 PM | #4 |
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I am pretty sure that you can not lease M3 E93 '09 for $700 a month with no downpay. maybe they were talking about 3.28? BMW leases are pricy...
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10-25-2009, 10:07 PM | #5 | |
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on the contrary they are leasing at like $1500 and change.. i am thinking how did it go from $700 to $1500 in one model year.. does anyone know when the lease factors? residuals, and dealer cash backs may get better? does the pricing on the convertibles get better in the summer months? thanks in advance.. S |
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10-25-2009, 10:14 PM | #6 | |
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10-25-2009, 10:23 PM | #7 | |
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so basically it is what it is? no these prices have to come down to reality.. |
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10-25-2009, 10:35 PM | #8 |
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What is reality? Is that like the petroleum market and gas prices?
In all seriousness, if they were feeling pinched by excess inventory, they certainly would provide more "realistic" leasing options, to use your definition of that term. No one is seeing last year's big discounts on out-right sales prices either.
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10-25-2009, 11:25 PM | #9 |
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Your friends who say their lease is $700 are bull shitting you and or put a lot down. Late '08 was a perfect storm with regards to leaseing an M3 at great rates, with the economy and over produced M3's, BMWNA was aggressive as hell in getting '08s off the lot.
Yes, todays leases are high and in all liklihood will coem down at some point, but to expect an E93, let alone an E90/92 at sub $900 per month range with zero down will not be happening anytime soon.
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10-26-2009, 12:22 AM | #10 |
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I and a few othere here got in on $700 leases back in Jan-March of 09. BMW bumped up the residual and gave $7500 trunk money on an already heavily discounted car. My money at signing was like $2k, which included firstmonths payment, fees. So it was like $700 down. I never think it well to put money down on lease.
The jist of the story is BMW is not going to make this mistake again. They pulled way back on production. My local dealer ran out of 2009 M3s a few months ago, people having to wait a while if they order. You are not going to get a new M3, especially an E93 for well under $1000/mo without substantial money down any time soon. |
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10-26-2009, 06:10 AM | #11 | |
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10-26-2009, 06:36 AM | #12 | |
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does it have any options?
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10-26-2009, 10:20 AM | #13 | |
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hmm.. guess just have to wait.. see what happens at the end of the year.. or maybe just swapalease.. so does anyone think they will do this again to move cars? it sort of devalues the brand.. i cant think of paying more when i know someone got that price.. s |
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10-26-2009, 10:20 AM | #14 |
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10-26-2009, 01:41 PM | #15 |
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Yep another one here in the mid 700's range..fully loaded e92. To the OP..its definitely not gonna happen again. If you want to pay those prices, then you need to keep an eye out for those w/ discounted 08's who are looking to get out of their leases. When I was shopping back in Jan 08, the fully loaded e93's were in the mid 800 range.
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10-26-2009, 01:57 PM | #16 | |
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10-26-2009, 01:58 PM | #17 | |
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This happens all the time with cars, luxury goods, clothing, electronics, etc. BMW did a bad job in over estimating how many M’s to produce at inception, couple that with the fact that the Worlds economy literally shit the bed within months of the car coming out, BMW had to leverage themselves, and if it meant losing a few bucks by getting rid of certain cars, in order to right the ship for future productions, so be it. You seem like a pretty logical and knowledgeable guy. The fact that a handful of guys basically stole this car 1-2 years ago does not affect the BMW brand or name in any way. Nobody knows for sure when and if this will happen again, maybe with the exception of the end of the E90/92/93’s life cycle. And no, I doubt they do anything as drastic again like this since they already learned their lesson once. If getting an E93 M3 means you have to be in the $700 a month range you will have to put a lot down on a lease or you could consider the BMW Select which would likely mean putting down something in the $15K range, but at least that way you’d own the car. Good luck with your search.
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10-26-2009, 02:31 PM | #18 | |
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$560/mo 3K down (3Yr 10K/yr) . '08 E90 M3 6MT, ZPP ~$900 of the 3K down was ($500 BMWCCA rebate, $350 disposal fee (recovered) I had considered it lost as I wasn't planning on getting a new BMW until later this year, but got it back after I jumped on the left over '08 deals). It bums me to think that after this lease is up I'll be looking at $1K plus to lease a similar vehicle. This might be my first/last M, though I don't know how I'm ever going to trade down |
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10-26-2009, 02:33 PM | #19 |
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Same with property. Neighbors in same development paying off mortgages several $100Ks less than the neighbors who bought 1yr+ ago.
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10-26-2009, 04:03 PM | #20 |
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EXACTLY!
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10-26-2009, 05:22 PM | #21 |
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10-26-2009, 06:56 PM | #22 |
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Just buy the damn thing .. at least that's what I'm planning to do .. I'll get a tax write off for the depreciation (if you own a business) and keep it for while on top of that. Take advantage of (end of model year) low financing rates and do European delivery and it'll be close to an approx. $700-$800 2-term lease. Then sell it if you want.
.. you'll be in the car for about 6-7 years to amortize the cost over a longer period of time .. but hey .. I'd live with this car for a decade if I had to and enjoy every moment of it. Another thing .. those leases on a steal were ALL 6MT (no DCTs) ! I knew about them and could have taken one but wifey said .. "sorry baby .. too much money if I can't drive it hunny" .. so much fr that. Don't whine and worry about what someone else got .. live life fr yourself. |
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