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02-20-2010, 10:21 PM | #1 |
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Something wrong?
Can someone please tell me something is wrong in this situation.
I went to the dealer to look at an M3 that I saw online cause I'm ready to pull the trigger on a 2010. It was fully loaded basically and the price was 70,xxx. I'm not really a buy person and I wanted to lease for three years. He told me the price would be around $1500 a month with 10k down. There has to be something wrong because I am paying 2k a month for a CL550 with 4k down. The CL is worth 125,xxx. |
02-20-2010, 10:32 PM | #2 |
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It does sound kind of high. To evaluate a lease deal, you need to find out these #s from the dealer:
- MSRP - Negotiated selling price - Residual - Money factor - Term, miles/year - Sales tax rate |
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02-21-2010, 12:47 AM | #3 | |
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Quote:
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2015 BMW M5 Sedan Returned to BMW at end of lease.
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02-21-2010, 01:57 AM | #4 | |
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hmmmm......
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leasing a 2010 with 10k down is kinda bs. 70,xxx msrp is really not a fully loaded. $1500 a month is the price for buying (loan). Price of leasing should be somewhere around $1000 a month. |
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02-21-2010, 04:08 AM | #5 | |
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I'm gonna go again tomorrow and speak to a more knowledgeable person. 70,xxx had Nav, premium package, technology package, DCT, iPod, and all those goodies. Seemed full to me. I knew what he said was outrageous, hopefully I can get something around $1000 with about 5k down, hopefully less. What would you guys pay? |
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02-21-2010, 07:43 AM | #7 |
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Here's an example:
2010 M3 Coupe with everything except 19" wheels (2MT): $74,755 Retail $68,810 Invoice Add to that invoice amount... $380 MACO (added by BMWNA to the invoice, paid by the dealer) $180 Training Fee (added by BMWNA to the invoice, paid by the dealer) $1,500 profit (just an example) $45 documentation fee ...and you get a Cap Cost of: $70,915 Assuming no Cap Cost Reduction, a term of 3 years @ 10k miles per year giving a residual of 54% and a buy rate MF of 0.00245 (no MSDs), and the lease acquisition fee at the buy rate of $725... The monthly payment including CA sales tax will be $1,230.49 and the drive off will be $2,965.93 (includes first month's payment, the acquisition fee, sales tax on the acquisition fee, and DMV fees of $938.75). A term of 3 years @ 15k miles per year would yield a monthly of $1,292.83 and a drive off of $3,028.27. A term of 2 years @ 10k miles per year (58% residual) would yield a monthly of $1,567.43 and a drive off of $3,302.87. So you can see a 10k down, or even a drive off, is ridiculous. You should also be able to get the profit down unless the car supply is running very short.
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2015 BMW M5 Sedan Returned to BMW at end of lease.
Last edited by ///M Rakete; 02-21-2010 at 07:49 AM.. Reason: Had to bump transportation to $875, MSRP/invoice pricing is pre-Jan 1 |
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02-21-2010, 01:42 PM | #9 |
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try to talk to George if you can, he's the fleet manager/lease specialist.
I was quoted $1000 over invoice without negotiation from the following dealers McKenna, Shelly, Crevier, and New Century. Dealer invoice should be around $500 (MACO + training) above the invoice posted here. I'm pretty sure this deal can be easily beaten. |
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02-21-2010, 02:49 PM | #10 | |
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Hopefully i'll return with a new car. |
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02-21-2010, 06:58 PM | #11 |
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WCKL
[QUOTE=Vaheb;6767869]Let's see what I can do, i'm about to head out right now.
Hopefully i'll return with a new car. [/QUOTE I recomed you to go New Century BMW, easier and nicer ppl to talk to. PM me if Monrovia didn't get you a good price, you can try to talk to my sales rep at NCB. GL |
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