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      04-30-2009, 03:09 PM   #1
ggoodlife
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Found a '08 M3. Anybody know current invoice? Finance rates?

Hi everyone,
I have now found a left over 2008 M3 with the right options and all.

It has an MSRP of $69k (premium, tec, 19", enhanced, etc...) and their initial offer is to sell it for $55k. I am figuring the buy cost should be about $53k. the car has 100 miles on it.

The questions are:

1 - Does any one know what the dealors invoice or carrying cost on an '08?

2- What are the current lease rates for an '08?

3- What are the current finance rates? And/or how does the baloon payment thing work?

Thanks for the help.
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      04-30-2009, 04:39 PM   #2
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1. roughly 6k less than MSRP would be an invoice price. and keep in mind that BMW 7500 incentive on remaining 08 models so I belive 53k would be pretty good deal as long as it's not a demo car.

2. lease on 08 cars are really worst (rate is not working as you a favor). dont think about leasing 08s.

3. BMW doesn't have any special rate for 08 cars (7-7.5%) so find your own credit union deals like penfed. And basic rule of balloon is basically you pay lower rate lease payments but you're obligated to buy it (consider this as that you're leasing it but you must buy it or sell it your own instead of returning it).
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      04-30-2009, 10:42 PM   #3
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penfed is the best place to get your auto loan 3.99 percent right now for new cars
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      04-30-2009, 11:17 PM   #4
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You'll get raped doing a lease on an 08..the days of the insane money factors and residuals are long gone. I got mine at 560 per month on my 08 vert but you had to sign before March 2nd.

The best thing you can do is negotiate the purchase price as much as possible and then finance through penfed. At 3.99 percent it really can't be beat.

You could opt for their balloon loan at 4.25% if you are so inclined
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      05-01-2009, 02:06 AM   #5
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Thanks guys. We will see what we can pull off with the dealer, and hopefully join the M3 ranks.
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      05-01-2009, 06:03 PM   #6
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just for reference i got my 08 E90 M3 with an MSRP of 64K, leased for 57K put 0 down and 0 at signing with a payment of 690/month tax included. this was in february...
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      05-01-2009, 06:28 PM   #7
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Quote:
Originally Posted by ScheerSpeed View Post
just for reference i got my 08 E90 M3 with an MSRP of 64K, leased for 57K put 0 down and 0 at signing with a payment of 690/month tax included. this was in february...
Nice deal ScheerSpeed! You got in on the great MF's and the incentives.
I got an 08 vert- MSRP 75, leased for 59,825 for 560 per month (599 including tax) and 3k down.

Unfortunately the days of those incredible MF's and residuals are long gone and probably not to be seen again.
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      05-01-2009, 10:34 PM   #8
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I bought my car using PenFed. Great company, good rate (3.99%). My friend also used them.
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      05-04-2009, 10:37 PM   #9
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I was at my local dealer today and wanted to see lease rates for any leftover 2008s.
here's what he told me. for an 08, BMW has set a $ residual, as opposed to a %. An M3 MSRP of around 75k had a residual of 27K! and the MF was 0.0032. I didn't even bother trying to figure out the payments, as they would easily be at or above 1300 a month.
totally not worth it.
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      05-05-2009, 01:24 PM   #10
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Quote:
Originally Posted by Khurram View Post
You'll get raped doing a lease on an 08..the days of the insane money factors and residuals are long gone. I got mine at 560 per month on my 08 vert but you had to sign before March 2nd.

The best thing you can do is negotiate the purchase price as much as possible and then finance through penfed. At 3.99 percent it really can't be beat.

You could opt for their balloon loan at 4.25% if you are so inclined
Want to do a lease swap
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      05-05-2009, 01:46 PM   #11
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Any idea if penfed will loan on a private party sale? seems almost all banks and CU's only do dealer preowned now??
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