Anyone have their monthly price yet?

[BMWCali]

I'm wondering if anyone has put in an order to lease an M3 yet and whether you've gotten your monthly payment price. I was hoping mine would be $950/month, but fully loaded at an MSRP of $74K, I'm thinking it's going to be more like $1,200/month, or $1,100/month if I get a good deal.

[NavNurs]

I'm paying cash. I guess the monthly residual will be something like -5% x 3 yrs? At least that was what I have been making on my money market?

[REP1KRR]

Originally Posted by NavNurs

I'm paying cash. I guess the monthly residual will be something like -5% x 3 yrs? At least that was what I have been making on my money market?

Fancy pants.

[NavNurs]

Fancy pants my ass!

Anyone here could join the military and go to Iraq for 7 months. It becomes rather difficult to spend more than ~$100/mo over there. When you get back there seems to be a rather large amt in the bank. Let that sit until BMW figures out how much to charge, and there you have it. I am not the wealthy kid you may think I am. Thanks.

[BMWCali]

Originally Posted by NavNurs

Fancy pants my ass!

Anyone here could join the military and go to Iraq for 7 months. It becomes rather difficult to spend more than ~$100/mo over there. When you get back there seems to be a rather large amt in the bank. Let that sit until BMW figures out how much to charge, and there you have it. I am not the wealthy kid you may think I am. Thanks.

Are you saying you got paid like $8,000/month from the U.S. Military?

[NavNurs]

The military pay charts are available on the net. We typically get a "base pay" which is taxable, an allowance for housing (BAH) which is based upon your location and is not taxable, and then some cash for food ~200/month (untaxed). Some of us have been around for quite awhile and do make decent $$.

When you are sent to Iraq, much of your base pay is not taxed and you are given other special pays. In all I think the tour was an additional ?14K? over what I typically was paid.

Of course, we are not in it for the cash. It is just nice when some of the "thanks" that goes with the job is extra $$.

Personally, I was there to help take care of the Marines. Forget the money; being able to saving even one life was payment enough. Lets just say I was paid very well for my time!

[OC ///M]

Thank you for your service NavNurs.

[Voltigeur]

Originally Posted by NavNurs

Anyone here could join the military and go to Iraq for 7 months. It becomes rather difficult to spend more than ~$100/mo over there. When you get back there seems to be a rather large amt in the bank. Let that sit until BMW figures out how much to charge, and there you have it.

Glad you're coming back

There'll be lots of cheap stocks to buy after this volatility shakes out, so why not invest and earn the spread? That's what I'll be doing so I'm going to finance 75-80%.

I too want to keep it to around $1k / mth.

[Rimola]

i am hopig to keep it below $1,300/month finance

[E394KEN]

I think for 74K the payment with nothing out of pocket for a lease depending on money factor which will be bad. 1250 + tax = $1,280.00. If youre leasing dont give em a red dime. Financing different deal of couse. My guestimate.
Wow 74 for an M3..

[FifthStreetz]

Originally Posted by Voltigeur

Glad you're coming back

so I'm going to finance 75-80%.

I too want to keep it to around $1k / mth.

I want to try to keep it to 1K or less with finance. My final spec comes out to $71,639. If i finance 31,000 (or about half) would less than 1K a month be achievable for either 48 or 54 months?

[BMWCali]

Originally Posted by FifthStreetz

I want to try to keep it to 1K or less with finance. My final spec comes out to $71,639. If i finance 31,000 (or about half) would less than 1K a month be achievable for either 48 or 54 months?

From what everyone is saying here, I guess it's impossible to tell now. My guess is your goal of $1K/month might be possible with some solid negotiating. But even then, you might be looking at up to $100/month more than the $1K.

If my monthly is more than $1,200/month, I might actually consider an M5 considering I could get one for about the same monthly.

[eclipsisNA]

Originally Posted by BMWCali

From what everyone is saying here, I guess it's impossible to tell now. My guess is your goal of $1K/month might be possible with some solid negotiating. But even then, you might be looking at up to $100/month more than the $1K.

If my monthly is more than $1,200/month, I might actually consider an M5 considering I could get one for about the same monthly.

Brand new 07 M5s were being offered last summer at sub 1,000 lease #'s (36 months). BMW had to shift the unsold 6MT M5s, so finding a used one now at $1,200 will be easy as pie. I came in at just over $1,600 on the 08 M5, so I'm expecting to be around 1,100-1,200 for my M3.

[ACZakka325i]

I'm hoping to keep my payments very light.

My m3 is spec'ed out to be $62,000

If i sell my car, i can put down roughly 37,500 including a hefty sum out of pocket.

Edmunds car payment caluclator puts my around $600-$650/month.

This includes tax, registration, my est. GG TAX of $2,000, and interest rate of 7.00%

Anything im missing?

[FifthStreetz]

Originally Posted by ACZakka325i

I'm hoping to keep my payments very light.

My m3 is spec'ed out to be $62,000

If i sell my car, i can put down roughly 37,500 including a hefty sum out of pocket.

Edmunds car payment caluclator puts my around $600-$650/month.

This includes tax, registration, my est. GG TAX of $2,000, and interest rate of 7.00%

Anything im missing?

Sounds pretty good, i just did a estimate too with Edmunds for finance and got in the ballpark of about 800 a month for a $65,550 spec

but for some reason when i use the bmwusa.com calculator i get over 1K...and everytime i recalculate the monthly payment goes up, even when i increase my downpayment...

[Rimola]

Originally Posted by Xcellere

so I'm expecting to be around 1,100-1,200 for my M3.

right behind ya...hoping for the same.

[BMWCali]

Originally Posted by ACZakka325i

I'm hoping to keep my payments very light.

My m3 is spec'ed out to be $62,000

If i sell my car, i can put down roughly 37,500 including a hefty sum out of pocket.

Edmunds car payment caluclator puts my around $600-$650/month.

This includes tax, registration, my est. GG TAX of $2,000, and interest rate of 7.00%

Anything im missing?

I take it your buying. Your dealer should would be happy to see $38,000 down on a lease.

[ACZakka325i]

Originally Posted by BMWCali

I take it your buying. Your dealer should would be happy to see $38,000 down on a lease.

No lease for me. Finance over 5 years. I think if I put $38k down, i could lease two cars!

[Ronno111]

Best way to go, if you can, is a home equity line of credit (no cost, no closing fees). I am taking one for $62k of the $75k cost of the M3(total cost with tax, tags, gas guzz out the door).

The loan is interest only based stretched over 20 years at about 6.5% fixed APR... Meaning, my interest payments alone will be appx. $325/mo. I can apply as much or as little over the $325/mo toward the principle balance of $62k. So, if I make a $750/mo payment for 3 years, I am putting $425 toward principle (which actually increases slightly every month I pay down the principle a little more).

In 3 years, I will have paid about $16,500 off of the $62k loan... Therefore, I need to only get about $45k for the car in 3 years to repay my remaining loan balance ($75k - $16,500 - $13,000 deposit = $45,500 OWED to bank). Since M3's are rated about #5 of the top 10 resale value for cars, and my research showing the car has about 28% max depreciation in 36 months time with 45k miles,,, a dealer should easily offer me $45-$48k for the car (having a $68k sticker). Factor in the $3,200 tax savings I get off a new BMW for the trade in---- makes buying this car a cost effective no brainer.... The interest paid on the loan for 3 years is also 100% tax deductible!!!

Everyone follow my logic???? The M3 should cost me about the same as a 36 month lease on an 08 335xi with $6k on mods I was going to do....

Just some food for thought for those guys that don't wanna get stuck with a $1,200/mo car payment

[WangTa]

Originally Posted by Ronno111

Best way to go, if you can, is a home equity line of credit (no cost, no closing fees). I am taking one for $62k of the $75k cost of the M3(total cost with tax, tags, gas guzz out the door).

The loan is interest only based stretched over 20 years at about 6.5% fixed APR... Meaning, my interest payments alone will be appx. $325/mo. I can apply as much or as little over the $325/mo toward the principle balance of $62k. So, if I make a $750/mo payment for 3 years, I am putting $425 toward principle (which actually increases slightly every month I pay down the principle a little more).

In 3 years, I will have paid about $16,500 off of the $62k loan... Therefore, I need to only get about $45k for the car in 3 years to repay my remaining loan balance ($75k - $16,500 - $13,000 deposit = $45,500 OWED to bank). Since M3's are rated about #5 of the top 10 resale value for cars, and my research showing the car has about 28% max depreciation in 36 months time with 45k miles,,, a dealer should easily offer me $45-$48k for the car (having a $68k sticker). Factor in the $3,200 tax savings I get off a new BMW for the trade in---- makes buying this car a cost effective no brainer.... The interest paid on the loan for 3 years is also 100% tax deductible!!!

Everyone follow my logic???? The M3 should cost me about the same as a 36 month lease on an 08 335xi with $6k on mods I was going to do....

Just some food for thought for those guys that don't wanna get stuck with a $1,200/mo car payment

That sounds like a great option Ronno - but can you take out a home equity loan to buy a car? While I'm sure this is feasible, what will the IRS say when they see you buy a $75K car or your house value doesn't go up by any amount (which it would if you used the home equity loan to invest in a pool, house extension, etc.)? Have you done this before?

Looks like you thought this through pretty well - I like your thinking, just not sure how I'd go through with it.

Thanks!

[Voltigeur]

Originally Posted by FifthStreetz

I want to try to keep it to 1K or less with finance. My final spec comes out to $71,639. If i finance 31,000 (or about half) would less than 1K a month be achievable for either 48 or 54 months?

Should be doable. Say the rate is 6.75% (and w/ Fed easing rates will move down, but not as much as ppl expect) you can get to under $900 / mth for 48.

Try playing around w/ this in Excel

=pmt(rate/N,N,loan amt,0)

where N = 48 .. or 54

rate should be % (ie .0675 etc)

I think my pmt is going to be $1,100 - 1,200...

[Keto]

Shop around, I can get 4.99% currently for a new car loan from at least 2 places (USAA/Penfed). Both have military-related requirements though (thanks Dad!) but Penfed used to have a way for nonmilitary to join.