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      07-31-2008, 12:34 PM   #1
gthirtyfizle
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Good deal or bad deal? Need help.... M3

Went to a bmw dealer in NYC today, looking in getting into a new M3. Basically we found an 09 with dual clutch tech package cold etc.. Alpine White and red interior... Car came out to 69,400 was able to get it for 64000. Now I didnt sign any papers but basicalle I am planning to lease the car and buy it out, just so I can keep my payments lower. 10,000 down 700 a month? Good deal or not. Keep in mind I am deff buying out the car after the lease is up, main reason of doing this is keeping my payments low. We did the math and financing or leasing once the term is over it comes out to basically be even, if I were to pay the remainder off in full, if not like 2 gs more, which is not too bad. So what do u guys think. Im gonna keep shopping around tho.
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      07-31-2008, 02:26 PM   #2
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Quote:
Originally Posted by gthirtyfizle View Post
Went to a bmw dealer in NYC today, looking in getting into a new M3. Basically we found an 09 with dual clutch tech package cold etc.. Alpine White and red interior... Car came out to 69,400 was able to get it for 64000. Now I didnt sign any papers but basicalle I am planning to lease the car and buy it out, just so I can keep my payments lower. 10,000 down 700 a month? Good deal or not. Keep in mind I am deff buying out the car after the lease is up, main reason of doing this is keeping my payments low. We did the math and financing or leasing once the term is over it comes out to basically be even, if I were to pay the remainder off in full, if not like 2 gs more, which is not too bad. So what do u guys think. Im gonna keep shopping around tho.
Leasing to buy is always a $$$$$ loser! If your job/company were paying for your monthly lease and then you purchased the car with your own cash at lease-end, then it would be worth it. Otherwise, you'll end up paying a lot more for the car. JMO!
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      07-31-2008, 03:57 PM   #3
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We ran over the numbers. My buy out in the end is about 36,000. If I paid that all off at once I would ectually end up saving about a G. If I finance that amount I end up paying about 2 to 2500 more which is not bad at all. But I most likely would be paying that amount off.
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      08-01-2008, 09:50 AM   #4
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The key with leasing is to put as little down as possible and still negotiate a low money factor and good residual. Why would you put $10,000 down just to keep the monthly payments low? Hold onto that money and spread it out over the term of the lease, just my opinion.
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      08-01-2008, 08:07 PM   #5
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Leasing is for people who cannot afford a car any other way

I can't believe people lease cars. That's the best deal for the dealer not you. If you have $10,000 to put down you need to finance, you can get 4.5% from Pentagon Federal Credit Union and even if you keep the car for 3 years like in a lease you will always come ahead. You don't need to be at the mercy of a dealer with miles penalties, wear and tear, tires and all these extra pricey charges.

People who leases cars are those who cannot afford them in the first place so the only way to get into a nice car is to do it through a lease.

The first option is to pay cash, second option half the value down payment and finance the rest through the lowest term possible.

As a financial advisor I rather be in control of my money than the dealer or the bank.
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      08-01-2008, 09:00 PM   #6
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Quote:
Originally Posted by gthirtyfizle View Post
Went to a bmw dealer in NYC today, looking in getting into a new M3. Basically we found an 09 with dual clutch tech package cold etc..
Thats interesting. I didn't think the factory had even started manufacturing the production 09s yet
You sure they were not trying to sell you a late production 08?
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      08-01-2008, 09:54 PM   #7
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Thats interesting. I didn't think the factory had even started manufacturing the production 09s yet
You sure they were not trying to sell you a late production 08?




pure fantasy.
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      08-01-2008, 10:34 PM   #8
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That is a great amount off, a dealer in SoCal thought I was crazy asking for 5k off.
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      08-02-2008, 01:00 AM   #9
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I would def say don't lease if you don't have to but thats a pretty good amount off
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      08-02-2008, 01:39 AM   #10
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Quote:
Originally Posted by gthirtyfizle View Post
Went to a bmw dealer in NYC today, looking in getting into a new M3. Basically we found an 09 with dual clutch tech package cold etc.. Alpine White and red interior... Car came out to 69,400 was able to get it for 64000. Now I didnt sign any papers but basicalle I am planning to lease the car and buy it out, just so I can keep my payments lower. 10,000 down 700 a month? Good deal or not. Keep in mind I am deff buying out the car after the lease is up, main reason of doing this is keeping my payments low. We did the math and financing or leasing once the term is over it comes out to basically be even, if I were to pay the remainder off in full, if not like 2 gs more, which is not too bad. So what do u guys think. Im gonna keep shopping around tho.
please tell us about the car, is it 2009?
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      08-03-2008, 03:39 AM   #11
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Not sure car is an 09, but today sales guy told me the car was still in Germany waiting to leave early next week and would be here in about three weeks. 3 other dealers were able to find the same exact car for me but said there was no way they could take thast much off. The most they went down was from 69025 to 66000. I think the car might be a late 08 production but in dual clutch
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