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10-18-2008, 08:43 PM | #1 |
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Thoughts on this deal...updated
I was chatting with my CA (now sales manager), and he mentioned that he needs to move some cars. He's got an '08 M3 6mt, IB/Silver, loaded, MSRP is $69,745. What kind of deal should I shoot for on this?
Also, I'm not one to keep cars past 3 years, but the 0.9% is very attractive. Should I bother looking at anything other than a lease if I'm not planning on keeping it beyond 3 years? Thanks. I wasn't planning on doing this but if I can trade in even on my 330i and grab a deal on an M3 I'll be pretty excited. ***Updated with numbers below Last edited by eeesh2u; 10-19-2008 at 05:14 PM.. |
10-18-2008, 11:51 PM | #2 |
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Try and find out how long the car has been on the lot, if it has been 2-4 months then you may have more bargaining power.Are you looking at coupe or sedan ? I would start at $1,000 below invoice and work up from there. Did you realize the lease rates are 0.00025 on the sedan which is 0.6%, so if you are only keeping it 3 years works better than 0.9% finance. I just drove my E90 M3 home today after getting a great deal.
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10-19-2008, 04:35 AM | #3 |
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I'd stick with invoice or $500 over - if they wont do it other dealers will. I just finalized my deal at that price yesterday and am picking it up today...that's why I can't sleep and am on this forum at this early hour
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10-19-2008, 07:59 AM | #4 | |
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$500 over Invoice is in fact a good deal!. Go get your M3 and enjoy it
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10-19-2008, 05:13 PM | #7 |
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Ok, here are the details:
MSRP $69,745 - discount = $63,745 after ttl = $66,255 If I pay ttl out of pocket, lease is $860/mo for 36 mo 10k/yr finance is $1096 for 60 mo. Another option is the select, payments would be $769 for 42 months, or $814 for 36. I'd consider the select (balloon) if I knew I could sell the car without losing money on it. I don't plan on keeping the car beyond 3 years or so. Anything thoughts or suggestions? |
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10-19-2008, 06:31 PM | #8 |
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Sales Tax
Does the $860 include sales tax? And what is your drive off amount going to be?
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10-19-2008, 06:40 PM | #9 | |
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Also, lease vs. Select, the residual and payment is practically the same. So I would owe the same, only I would be limited to a mileage requirement on the lease, vs. no limit on the select. |
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10-19-2008, 09:59 PM | #10 | |
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A lot depends on how much you drive? If you drive a lot, purchase may make more sense. Of course the car will depreciate more, with more miles, so the miles aren't free with select either. I would only do select, if: you feel comfortable it will be worth balloon amount, given mileage you plan to drive; and, are willing and able to buy car out and sit on it until it sells. Who knows what the car market will be in 3 years? Economy, gas prices, new models... There's so many variables that for a $46 a month difference, I'd personally rather transfer risk to BMW and be able to walk away, rather than have to pay balloon amount. If M3 market is strong, you can always buy the car at lease end.
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10-19-2008, 10:08 PM | #11 | |
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I guess I like the thought of a lower monthly payment (thinking a couple years from now when the newness wears off). I'll probably lease, for the main reason that I have never owned a car longer than 4 years, and I usually have seen no gain in financing new cars only to sell the a couple years later. And selling used cars have been hit or miss, especially on premium vehicles... I think if I can get another 2k off the selling price I'll do it. Think there's a chance? I can buy extra mileage @ .16/mi up to 32 months into the lease. So I could purchase an extra 6k (making it a 12k/yr) for $960. That works for me, since I'm not sure how often I'll drive it (It would be a sunny day car). |
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10-19-2008, 10:57 PM | #12 | |
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Definitely check with your CPA. My experience is to lease in the business' name and then you can expense the business use portion. If some of it is for personal use, then you are supposed to include it as compensation. If you have multiple cars (which it sounds like you do), it gets easier to say which is business and which is personal. Whether you lease or buy, you can still get a tax break for business use of vehicle (through depreciation or mileage). Again, this is my understanding and I would definitely consult your CPA. As far as price, I have limited knowledge; only what I read here or hear about from others. If you're $1,000 under invoice, then I think you have a solid deal. You can always offer less and see what they say. With the current state of auto sales and the economy, I am sure they would consider it. Good luck with your deal. The M3 is a fantastic car!
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