First time leasing, good deal or not?

[asado111]

http://www.cars.com/go/search/detail...&&aff=national

I have that car, I am about to pay 1218.68 a month for 3 years, 12k miles. (I am trading in a BMW 335i, which I owe 19.8k on it, and they are offering me 16.5k on it as trade in) Am I getting ripped off or not? Please give me advice or tell me how to get a better deal. I am putting 0 down as well.

[Atombyte]

You're going -$3k+ on a lease and wondering if this is a bad deal? I'm going on the assumption you're new to this, but this is an unbelievably bad deal. I don't know what year/shape your 335 is in, but going in upside down on a lease is a bad deal that I don't think you have a way to make right. Unless you're willing to piss money away, I'd say you need to stay in your 335 for a couple or more years. There are worse things.

[Curt2000]

I dont have time to do the lease calculation but I would say that this car should be somewhere in the $850/month range with current incentives and programs and $1000 over invoice.

Even with 3K negative equity that should only raise the lease monthly payment to around $950. I'd take your car to a local carmax dealer and get a quote from them to see if they will give you more because it sounds like this bimmer dealership is trying to take advantage of you on the trade.

Oh I just realized you are in TX...leasing there blows because you have to pay sales tax on the total value of the car instead of just the lease payments. So...I'd say its about an extra $3000 of taxes over a normal lease which means the payment should go up another 100 or so per month...$1100 should be about right if you are willing to let them walk on you for the trade...

I'd tell them to call it an even $1000/month including tax and see what they say...that deal would essentially be $1000 over invoice and even money on what you owe on the trade-in. minus all incentives (assuming you qualify for loyalty if your current loan is with BMW) also, are you a USAA member? that would be another $500 off.

[asado111]

Atombyte: My car is no longer under warranty, and expensive as shit to repair, and nonetheless car is not reliable at all, always in the service shop, and i'm sick of it.

Curt: I am actually doing the trade in IL. Any pointers?

Anyone else? =/ and yes, I am new to this.

[Curt2000]

Originally Posted by asado111

Atombyte: My car is no longer under warranty, and expensive as shit to repair, and nonetheless car is not reliable at all, always in the service shop, and i'm sick of it.

Curt: I am actually doing the trade in IL. Any pointers?

Anyone else? =/ and yes, I am new to this.

Illinios is the same as TX only worse because if you are registering within Chicago city limits then I beleive its an additional 2-3% city tax on top of the state tax.

Honestly I think you would be better off purchasing the car...a 72 month loan at 3% would be just under $1200 if you could negotiate $76k out the door.

[SROC3]

YOu guys should all call Steve THomas BMW - Ask for Ryan Amico. He has helped me buy 2 M3's, at prices NO dealer could match. No BS. Yes, he is in Camarillo, CA - BUT has helped many, many people from around the country on this forum buy their M3's

[DopeM3]

Originally Posted by SROC3

YOu guys should all call Steve THomas BMW - Ask for Ryan Amico. He has helped me buy 2 M3's, at prices NO dealer could match. No BS. Yes, he is in Camarillo, CA - BUT has helped many, many people from around the country on this forum buy their M3's

+1

[chili cheese]

Originally Posted by AyooooJay

+1

+2. You are guaranteed a good deal. They will not screw you.

[osteome]

Originally Posted by Atombyte

You're going -$3k+ on a lease and wondering if this is a bad deal? I'm going on the assumption you're new to this, but this is an unbelievably bad deal. I don't know what year/shape your 335 is in, but going in upside down on a lease is a bad deal that I don't think you have a way to make right. Unless you're willing to piss money away, I'd say you need to stay in your 335 for a couple or more years. There are worse things.

Originally Posted by asado111

Atombyte: My car is no longer under warranty, and expensive as shit to repair, and nonetheless car is not reliable at all, always in the service shop, and i'm sick of it.

Curt: I am actually doing the trade in IL. Any pointers?

Anyone else? =/ and yes, I am new to this.

If you are $3,000 upside down in your current BMW and balking at the payment of a new M3, it may be wiser to move DOWN in car rather up. Use the time re-evaluate the finances.....

[snk]

+11111 to Steve Thomas. My local SA told me to quickly jump on the Steve Thomas deal

[Curt2000]

With a trade located in IL he will be hard pressed to not loose money on shipment even if ST offers him what he owes on it sight unseen...plus, with IL lease tax laws a lease deal will not be attractive regardless of purchase price. The minimum courtesy delivery fee of $500, possibly more depending on dealership, will eat away at any savings he can get from not using a local dealer.

While I agree ST can get him a great deal I believe all the peripheral factors associated with the OPs location will overcome the ST discount.