Canadians continue to get screwed on these M3 leases!

TailHappyM3 · 03-25-2011, 07:48 PM

This really ticks me off!! I'm really puzzled as to why we Canadians cannot get anywhere close to these types of deals up here. I'm happy our American friends can get such great leases, but WTF is really going on here when the same car is almost twice the monthly lease payment up here in Canada?

Quote:

Originally Posted by JoeSpic01

So I just spoke with my dealer, and here is what I was quoted (please let me know what you guys think.. is this a good deal?):

2011 M3 Coupe
Silverstone Metallic
Black Novillo Leather
Blue-Gray Brushed Aluminum Trim
6spd Manual Transmission
Competition Package
Heated Seats
Satellite Radio
Ipod/USB Port
Moonroof

MSRP - $66,825
Invoice - $61,610
My Price - $62,218 + tax and license

36 months, 12k miles per year(loyalty, assuming 6% tax is paid monthly on depreciation, and not on selling price)

$825 / month including tax
$1,868 Total Due, INCLUDES EVERYTHING, TITLE, DOC FEE, TRANSFER PLATE, Taxes.
36 month Lease, 12k a year.

I am located in Michigan, sales tax (which is included) is 6%

Gearhead999s · 03-25-2011, 07:58 PM

All vehicle leasing in the US is much cheaper than leasing the same vehicle in Canada.It is not just BMW.

TailHappyM3 · 03-25-2011, 08:07 PM

Quote:

Originally Posted by Gearhead999s

All vehicle leasing in the US is much cheaper than leasing the same vehicle in Canada.It is not just BMW.

I realize that but in the case of the M3 it is almost half which I don't think is the case with other car comparisons. Or is it? And why?????

Gearhead999s · 03-25-2011, 08:10 PM

Quote:

Originally Posted by Azorean

But why? and in the case of the M3 why should it be double the lease payment? I don't think other cars compare like that but I could be wrong.

My 2011 F150 Platinum leases out at about $1100/month on a 36 month lease.In the US the same truck is about $600 /month,Canada is a small market with a very large geographical area to service.It costs the manufactures a lot more per unit to do business here.It is a fact of life living here in Canada.I have been in the wholesale leasing business for 28 years so I do know a lot about this business.

TailHappyM3 · 03-25-2011, 08:20 PM

Quote:

Originally Posted by Gearhead999s

My 2011 F150 Platinum leases out at about $1100/month on a 36 month lease.In the US the same truck is about $600 /month,Canada is a small market with a very large geographical area to service.It costs the manufactures a lot more per unit to do business here.It is a fact of life living here in Canada.I have been in the wholesale leasing business for 28 years so I do know a lot about this business.

But MSRP is not twice as much here, maybe 15-25% more for the same car and sometimes even less than that. However, leases are double the monthly payment which I can't understand what that has to do with our small market and geographical size of our country. I think leasing companies are simply hosing us up here! I can accept many things about living in Canada but paying double for the same product as our American neighbours just stinks.

Gearhead999s · 03-25-2011, 08:32 PM

Quote:

Originally Posted by Azorean

But MSRP is not twice as much here, maybe 15-25% more for the same car and sometimes even less than that. However, leases are double the monthly payment which I can't understand what that has to do with our small market and geographical size of our country. I think leasing companies are simply hosing us up here! I can accept many things about living in Canada but paying double for the same product as our American neighbours just stinks.

Leasing costs are a lot more than the unit cost.American leases usually have much higher residuals than here in Canada and our money costs are for leasing are generally higher than in the US. It is not simple as you think!

Alex_bm · 03-26-2011, 04:43 PM

"American leases usually have much higher residuals than here in Canada"

And yet, BMW sells used M3 for much higher price then in states... WTF

pmeloche · 03-26-2011, 06:10 PM

Yet another reason to fold Canada into the United States of America.

SlammedR8 · 03-30-2011, 09:38 AM

I agree

this really pisses me off too.

The new M5 will likely cost between $2500-$3000 per month on a lease in Canada.
The same M5 in the US will cost between $1500-$2000

its CRAZY!

Alex_bm · 03-30-2011, 09:54 AM

NAFTA worth sh!t

Kartelli · 03-30-2011, 02:31 PM

Quote:

Originally Posted by Azorean

This really ticks me off!! I'm really puzzled as to why we Canadians cannot get anywhere close to these types of deals up here. I'm happy our American friends can get such great leases, but WTF is really going on here when the same car is almost twice the monthly lease payment up here in Canada?

If I could have this deal, id be trading my 08 in today for a new one.

Right now Mercedes is offering 1.9% financing on a 5 yr term on the certified pre-owned.

A friend of mine just picked up an 09 fully loaded c63 amg with 19k kms for 57+taxes and his car payment worked out to be 850/month.

Gearhead999s · 03-30-2011, 02:33 PM

Quote:

Originally Posted by Kartelli

If I could have this deal, id be trading my 08 in today for a new one.

Right now Mercedes is offering 1.9% financing on a 5 yr term on the certified pre-owned.

A friend of mine just picked up an 09 fully loaded c63 amg with 19k kms for 57+taxes and his car payment worked out to be 850/month.

But who wants a Benz?

Kartelli · 03-30-2011, 02:37 PM

^ haha I took it for a test drive... C63 is amazing. I give the car a 10/10 rating.

Gearhead999s · 03-30-2011, 02:39 PM

Quote:

Originally Posted by Kartelli

^ haha I took it for a test drive... C63 is amazing. I give the car a 10/10 rating.

Did you actually take it around a corner at speed?If you did,were you scared?

Kartelli · 03-30-2011, 02:44 PM

Quote:

Originally Posted by Gearhead999s

Did you actually take it around a corner at speed?If you did,were you scared?

haha white knuckle driving around the corner, car's back end kicks out like crazy. Couldn't pull the same moves on the m3, nor would I want too

The car is hooligan styles, but I couldn't stop smiling. Definite thumbs up.

Jaypod · 03-30-2011, 02:48 PM

Quote:

Originally Posted by Kartelli

If I could have this deal, id be trading my 08 in today for a new one.

Right now Mercedes is offering 1.9% financing on a 5 yr term on the certified pre-owned.

A friend of mine just picked up an 09 fully loaded c63 amg with 19k kms for 57+taxes and his car payment worked out to be 850/month.

Aside from the finance rate, thats really not that great a deal. In '09 I could have got into a fully loaded C63 for not too much more that that price.

If you over pay for a car, I can make the numbers work to give you any interest rate you want on paper

Kartelli · 03-30-2011, 02:53 PM

Quote:

Originally Posted by Jaypod

Aside from the finance rate, thats really not that great a deal. In '09 I could have got into a fully loaded C63 for not too much more that that price.

If you over pay for a car, I can make the numbers work to give you any interest rate you want on paper

Really? Base is 63 and change, with the factory upgrades your looking close to 71? I feel he paid about 3k too much (bringing the price to 54k all in). Not a bad deal overall, white on black, new tires, single owner previous. 3k in happiness is well worth it

Jaypod · 03-30-2011, 02:55 PM

Quote:

Originally Posted by Kartelli

Really? Base is 63 and change, with the factory upgrades your looking close to 71? I feel he paid about 3k too much (bringing the price to 54k all in). Not a bad deal overall, white on black, new tires, single owner previous. 3k in happiness is well worth it

Yep - retail was around 71K, it was in the showroom and they were taking about 11K off the price.

It is a nice car, so as long as he is happy thats all that matters.

Alex_bm · 03-30-2011, 02:56 PM

Curios how does the tax work in Alberta. Here it actually adds to the price...

57k over 60 months without adding interest and tax equals 950CAD. With tax and interest you are looking at about 1250 a month.

Money aside, I actually test drove a used C63 today. Dealer wants 66k for 1.5 year old car that was worth the same when new... WTF

I find it too fast and unpredictable for a daily driver. Never thought I will say those words, getting old. The fan factor is there though.

Quote:

Originally Posted by Kartelli

If I could have this deal, id be trading my 08 in today for a new one.

Right now Mercedes is offering 1.9% financing on a 5 yr term on the certified pre-owned.

A friend of mine just picked up an 09 fully loaded c63 amg with 19k kms for 57+taxes and his car payment worked out to be 850/month.

Kartelli · 03-30-2011, 03:07 PM

Quote:

Originally Posted by Alex_bm

Curios how does the tax work in Alberta. Here it actually adds to the price...

57k over 60 months without adding interest and tax equals 950CAD. With tax and interest you are looking at about 1250 a month.

Money aside, I actually test drove a used C63 today. Dealer wants 66k for 1.5 year old car that was worth the same when new... WTF

I find it too fast and unpredictable for a daily driver. Never thought I will say those words, getting old. The fan factor is there though.

I'm pretty sure there is a baloon payment of 6-8k at the end of 5 yrs. Somewhere in that range to bring it to 850/month. I'll take it for another test drive this weekend, had the same feelings as you. 66K is steep, this is for a 2010 model?

Alex_bm · 03-30-2011, 03:20 PM

It is 2010, but the car was originally purchased in October 09.

When the tires were cold, car was trying to go sideways even with very little throttle applied. Stability control was kicking in until tires warmed up a bit.
I told to the sale person and his manager that for this money I would rather get new one. They are not even giving additional warranty on 2010 CPO...

Quote:

Originally Posted by Kartelli

I'm pretty sure there is a baloon payment of 6-8k at the end of 5 yrs. Somewhere in that range to bring it to 850/month. I'll take it for another test drive this weekend, had the same feelings as you. 66K is steep, this is for a 2010 model?

Kartelli · 04-04-2011, 10:08 AM

^ I had an hr test drive of the c63 this weekend.

My biggest pet peeve is the traction control system. Either its on full nanny mode, or completely off. There is no inbetween. There should a be a medium setting to have some fun, but not kill yourself.

Suspension is almost identical to my M3 without EDC (~ sport mode setting). Torque monster, yes, alot more fun booting around town with extra low end torque. I haven't driven a dct m3 yet, but I'm sure the experience is just as good.

The auto tranny isnt bad, although the downshifts take time (can't downshift too fast, goes 1 gear at a time, abit of lag).

I give it a 8.5/10 review.

03-25-2011, 07:58 PM	#2
Gearhead999s Major General 815 Rep 7,887 Posts Drives: RR Velar R=Dynamic M2C R1200GS Join Date: Apr 2007 Location: Toronto iTrader: (0)	All vehicle leasing in the US is much cheaper than leasing the same vehicle in Canada.It is not just BMW.
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03-26-2011, 04:43 PM	#7
Alex_bm Major 175 Rep 1,040 Posts Drives: Giulia QV Join Date: Oct 2006 Location: Canada, Toronto iTrader: (1)	"American leases usually have much higher residuals than here in Canada" And yet, BMW sells used M3 for much higher price then in states... WTF
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03-26-2011, 06:10 PM	#8
pmeloche Lieutenant Colonel 24 Rep 1,604 Posts Drives: 2013 F25 X3 xDrive35i Join Date: Feb 2008 Location: Montréal, Canada iTrader: (0)	Yet another reason to fold Canada into the United States of America. __________________ Patrice 2013 F25 X3 xDrive35i Vermillion Red
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03-30-2011, 09:38 AM	#9
SlammedR8 Major General 521 Rep 5,483 Posts Drives: 2019 X5 40i/2020 R8 V10 Spyder Join Date: Jul 2007 Location: Toronto iTrader: (2)	I agree this really pisses me off too. The new M5 will likely cost between $2500-$3000 per month on a lease in Canada. The same M5 in the US will cost between $1500-$2000 its CRAZY! __________________ Current: 2019 BMW X5 40i - Carbon Black/Tartufo Individual Leather 2020 Range Rover HSE - Black/Black 2020 Audi R8 V10 Performance Spyder 6MT - Ascari Blue/Black
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03-30-2011, 09:54 AM	#10
Alex_bm Major 175 Rep 1,040 Posts Drives: Giulia QV Join Date: Oct 2006 Location: Canada, Toronto iTrader: (1)	NAFTA worth sh!t
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03-30-2011, 02:37 PM	#13
Kartelli Second Lieutenant 54 Rep 244 Posts Drives: 15 AW M3 DCT Join Date: Jul 2010 Location: Edmonton, AB iTrader: (0)	^ haha I took it for a test drive... C63 is amazing. I give the car a 10/10 rating.
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04-04-2011, 10:08 AM	#22
Kartelli Second Lieutenant 54 Rep 244 Posts Drives: 15 AW M3 DCT Join Date: Jul 2010 Location: Edmonton, AB iTrader: (0)	^ I had an hr test drive of the c63 this weekend. My biggest pet peeve is the traction control system. Either its on full nanny mode, or completely off. There is no inbetween. There should a be a medium setting to have some fun, but not kill yourself. Suspension is almost identical to my M3 without EDC (~ sport mode setting). Torque monster, yes, alot more fun booting around town with extra low end torque. I haven't driven a dct m3 yet, but I'm sure the experience is just as good. The auto tranny isnt bad, although the downshifts take time (can't downshift too fast, goes 1 gear at a time, abit of lag). I give it a 8.5/10 review.
	Appreciate 0 Quote