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      04-17-2010, 11:57 PM   #1
OneblkM3
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Just came back from the dealer today

This is the deal that he offered me for a 3 year lease on a 2010:

Suggested Retail - 70,080.00

Jet Black/Black Novillo Leather
Premium Package
Technology Package
DCT
19" wheels
Heated seats
Park Distance Control
iPod and USB adapter
Smartphone integration

Offered at $1045 a month with a little under $2200 due at signing. I am new to leases but I can't bring myself to buy a car at this price due to its depreciation value within the first two years. Thoughts?
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      04-18-2010, 12:04 AM   #2
FStop7
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Sounds like an OK deal to me, but I don't know anything about leases. How many miles per year?
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      04-18-2010, 02:49 AM   #3
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[quote=OneblkM3;7146055]This is the deal that he offered me for a 3 year lease on a 2010:

Suggested Retail - 70,080.00

Jet Black/Black Novillo Leather
Premium Package
Technology Package
DCT
19" wheels
Heated seats
Park Distance Control
iPod and USB adapter
Smartphone integration

Offered at $1045 a month with a little under $2200 due at signing. I am new to leases but I can't bring myself to buy a car at this price due to its depreciation value within the first two years. Thoughts?[/QUOTe

Not enough detail. What's included in the 2200? Does the payment include sales tax? M3 isn't going to depreciate as fast as many 70k cars.
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      04-18-2010, 10:13 AM   #4
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[quote=EJ_92606;7146410]
Quote:
Originally Posted by OneblkM3 View Post
This is the deal that he offered me for a 3 year lease on a 2010:

Suggested Retail - 70,080.00

Jet Black/Black Novillo Leather
Premium Package
Technology Package
DCT
19" wheels
Heated seats
Park Distance Control
iPod and USB adapter
Smartphone integration

Offered at $1045 a month with a little under $2200 due at signing. I am new to leases but I can't bring myself to buy a car at this price due to its depreciation value within the first two years. Thoughts?[/QUOTe

Not enough detail. What's included in the 2200? Does the payment include sales tax? M3 isn't going to depreciate as fast as many 70k cars.
Check out autotrader for 2009 going for low 50ks/high 40ks. These cars suck when it comes to depreciation.
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      04-18-2010, 10:14 AM   #5
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Quote:
Originally Posted by OneblkM3 View Post
This is the deal that he offered me for a 3 year lease on a 2010:

Suggested Retail - 70,080.00

Jet Black/Black Novillo Leather
Premium Package
Technology Package
DCT
19" wheels
Heated seats
Park Distance Control
iPod and USB adapter
Smartphone integration

Offered at $1045 a month with a little under $2200 due at signing. I am new to leases but I can't bring myself to buy a car at this price due to its depreciation value within the first two years. Thoughts?

You can get a 2011 for near the same cost. Search this forum, there are plenty of incentives to be had.
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      04-18-2010, 01:10 PM   #6
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Quote:
Originally Posted by Bubbles View Post
You can get a 2011 for near the same cost. Search this forum, there are plenty of incentives to be had.
Agreed...I just got a 2011 for $500 over invoice.
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      04-18-2010, 01:57 PM   #7
OneblkM3
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The mileage on the lease is 12k/yr. The $2200 includes first mo., tags, and taxes. From what I have been reading this is not the greatest deal but not the worst either.
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      04-18-2010, 08:13 PM   #8
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What is the negotiated price. I would imagine that pricing was negotiated, if so try to get invoice pricing. Many dealers are eager to get rid of the new 10's. You might want to ask if the 2500.00 incentive still applies to the 10's as well. Some dealers are offering it on the M's. If they will not budge, you can definitely get an '11 for close to the same price. I got one for 1000 over invoice and it has more options than that for under 70K
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      04-18-2010, 10:22 PM   #9
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not a good deal..
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      04-18-2010, 10:51 PM   #10
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Assuming you can get the car to sell @ invoice ~ $65k, there's a $2,500 finance credit which makes the car ~$62k. To calculate lease payment, use 12k/mi for 3 years, 49% residual with a money factor of 0.00125. This will get you a monthly payment of ~$900/mo tax excluded.

I assume your monthly payment does not include tax?

If so, you can see there's a $100 diff a month. For 3 years that's $3,600.

Now, if you also use multiple security deposits, with 7 deposits for $1000 per for a total of ~$7000, you can bring down the MF by another 0.00049, which gives you a final MF of .00076. With this MF, you will be down to ~$860/mo.

So, the most important factor is again your negotiated selling price. Get it down to ~invoice and you will get a great deal.
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