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      03-25-2011, 07:48 PM   #1
TailHappyM3
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Canadians continue to get screwed on these M3 leases!

This really ticks me off!! I'm really puzzled as to why we Canadians cannot get anywhere close to these types of deals up here. I'm happy our American friends can get such great leases, but WTF is really going on here when the same car is almost twice the monthly lease payment up here in Canada?

Quote:
Originally Posted by JoeSpic01 View Post
So I just spoke with my dealer, and here is what I was quoted (please let me know what you guys think.. is this a good deal?):

2011 M3 Coupe
Silverstone Metallic
Black Novillo Leather
Blue-Gray Brushed Aluminum Trim
6spd Manual Transmission
Competition Package
Heated Seats
Satellite Radio
Ipod/USB Port
Moonroof

MSRP - $66,825
Invoice - $61,610
My Price - $62,218 + tax and license

36 months, 12k miles per year(loyalty, assuming 6% tax is paid monthly on depreciation, and not on selling price)

$825 / month including tax
$1,868 Total Due, INCLUDES EVERYTHING, TITLE, DOC FEE, TRANSFER PLATE, Taxes.
36 month Lease, 12k a year.

I am located in Michigan, sales tax (which is included) is 6%
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      03-25-2011, 07:58 PM   #2
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All vehicle leasing in the US is much cheaper than leasing the same vehicle in Canada.It is not just BMW.
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      03-25-2011, 08:07 PM   #3
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Quote:
Originally Posted by Gearhead999s View Post
All vehicle leasing in the US is much cheaper than leasing the same vehicle in Canada.It is not just BMW.
I realize that but in the case of the M3 it is almost half which I don't think is the case with other car comparisons. Or is it? And why?????
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      03-25-2011, 08:10 PM   #4
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Quote:
Originally Posted by Azorean View Post
But why? and in the case of the M3 why should it be double the lease payment? I don't think other cars compare like that but I could be wrong.
My 2011 F150 Platinum leases out at about $1100/month on a 36 month lease.In the US the same truck is about $600 /month,Canada is a small market with a very large geographical area to service.It costs the manufactures a lot more per unit to do business here.It is a fact of life living here in Canada.I have been in the wholesale leasing business for 28 years so I do know a lot about this business.
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      03-25-2011, 08:20 PM   #5
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Quote:
Originally Posted by Gearhead999s View Post
My 2011 F150 Platinum leases out at about $1100/month on a 36 month lease.In the US the same truck is about $600 /month,Canada is a small market with a very large geographical area to service.It costs the manufactures a lot more per unit to do business here.It is a fact of life living here in Canada.I have been in the wholesale leasing business for 28 years so I do know a lot about this business.
But MSRP is not twice as much here, maybe 15-25% more for the same car and sometimes even less than that. However, leases are double the monthly payment which I can't understand what that has to do with our small market and geographical size of our country. I think leasing companies are simply hosing us up here! I can accept many things about living in Canada but paying double for the same product as our American neighbours just stinks.
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      03-25-2011, 08:32 PM   #6
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Quote:
Originally Posted by Azorean View Post
But MSRP is not twice as much here, maybe 15-25% more for the same car and sometimes even less than that. However, leases are double the monthly payment which I can't understand what that has to do with our small market and geographical size of our country. I think leasing companies are simply hosing us up here! I can accept many things about living in Canada but paying double for the same product as our American neighbours just stinks.

Leasing costs are a lot more than the unit cost.American leases usually have much higher residuals than here in Canada and our money costs are for leasing are generally higher than in the US. It is not simple as you think!
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      03-26-2011, 04:43 PM   #7
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"American leases usually have much higher residuals than here in Canada"

And yet, BMW sells used M3 for much higher price then in states... WTF
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      03-26-2011, 06:10 PM   #8
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Yet another reason to fold Canada into the United States of America.
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      03-30-2011, 09:38 AM   #9
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I agree

this really pisses me off too.

The new M5 will likely cost between $2500-$3000 per month on a lease in Canada.
The same M5 in the US will cost between $1500-$2000

its CRAZY!
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      03-30-2011, 09:54 AM   #10
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NAFTA worth sh!t
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      03-30-2011, 02:31 PM   #11
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Quote:
Originally Posted by Azorean View Post
This really ticks me off!! I'm really puzzled as to why we Canadians cannot get anywhere close to these types of deals up here. I'm happy our American friends can get such great leases, but WTF is really going on here when the same car is almost twice the monthly lease payment up here in Canada?
If I could have this deal, id be trading my 08 in today for a new one.

Right now Mercedes is offering 1.9% financing on a 5 yr term on the certified pre-owned.

A friend of mine just picked up an 09 fully loaded c63 amg with 19k kms for 57+taxes and his car payment worked out to be 850/month.
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      03-30-2011, 02:33 PM   #12
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Quote:
Originally Posted by Kartelli View Post
If I could have this deal, id be trading my 08 in today for a new one.

Right now Mercedes is offering 1.9% financing on a 5 yr term on the certified pre-owned.

A friend of mine just picked up an 09 fully loaded c63 amg with 19k kms for 57+taxes and his car payment worked out to be 850/month.
But who wants a Benz?
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      03-30-2011, 02:37 PM   #13
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^ haha I took it for a test drive... C63 is amazing. I give the car a 10/10 rating.
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      03-30-2011, 02:39 PM   #14
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Quote:
Originally Posted by Kartelli View Post
^ haha I took it for a test drive... C63 is amazing. I give the car a 10/10 rating.
Did you actually take it around a corner at speed?If you did,were you scared?
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      03-30-2011, 02:44 PM   #15
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Quote:
Originally Posted by Gearhead999s View Post
Did you actually take it around a corner at speed?If you did,were you scared?
haha white knuckle driving around the corner, car's back end kicks out like crazy. Couldn't pull the same moves on the m3, nor would I want too

The car is hooligan styles, but I couldn't stop smiling. Definite thumbs up.
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      03-30-2011, 02:48 PM   #16
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Quote:
Originally Posted by Kartelli View Post
If I could have this deal, id be trading my 08 in today for a new one.

Right now Mercedes is offering 1.9% financing on a 5 yr term on the certified pre-owned.

A friend of mine just picked up an 09 fully loaded c63 amg with 19k kms for 57+taxes and his car payment worked out to be 850/month.
Aside from the finance rate, thats really not that great a deal. In '09 I could have got into a fully loaded C63 for not too much more that that price.

If you over pay for a car, I can make the numbers work to give you any interest rate you want on paper
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      03-30-2011, 02:53 PM   #17
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Quote:
Originally Posted by Jaypod View Post
Aside from the finance rate, thats really not that great a deal. In '09 I could have got into a fully loaded C63 for not too much more that that price.

If you over pay for a car, I can make the numbers work to give you any interest rate you want on paper
Really? Base is 63 and change, with the factory upgrades your looking close to 71? I feel he paid about 3k too much (bringing the price to 54k all in). Not a bad deal overall, white on black, new tires, single owner previous. 3k in happiness is well worth it
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      03-30-2011, 02:55 PM   #18
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Quote:
Originally Posted by Kartelli View Post
Really? Base is 63 and change, with the factory upgrades your looking close to 71? I feel he paid about 3k too much (bringing the price to 54k all in). Not a bad deal overall, white on black, new tires, single owner previous. 3k in happiness is well worth it
Yep - retail was around 71K, it was in the showroom and they were taking about 11K off the price.


It is a nice car, so as long as he is happy thats all that matters.
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      03-30-2011, 02:56 PM   #19
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Curios how does the tax work in Alberta. Here it actually adds to the price...

57k over 60 months without adding interest and tax equals 950CAD. With tax and interest you are looking at about 1250 a month.

Money aside, I actually test drove a used C63 today. Dealer wants 66k for 1.5 year old car that was worth the same when new... WTF

I find it too fast and unpredictable for a daily driver. Never thought I will say those words, getting old. The fan factor is there though.


Quote:
Originally Posted by Kartelli View Post
If I could have this deal, id be trading my 08 in today for a new one.

Right now Mercedes is offering 1.9% financing on a 5 yr term on the certified pre-owned.

A friend of mine just picked up an 09 fully loaded c63 amg with 19k kms for 57+taxes and his car payment worked out to be 850/month.
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      03-30-2011, 03:07 PM   #20
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Quote:
Originally Posted by Alex_bm View Post
Curios how does the tax work in Alberta. Here it actually adds to the price...

57k over 60 months without adding interest and tax equals 950CAD. With tax and interest you are looking at about 1250 a month.

Money aside, I actually test drove a used C63 today. Dealer wants 66k for 1.5 year old car that was worth the same when new... WTF

I find it too fast and unpredictable for a daily driver. Never thought I will say those words, getting old. The fan factor is there though.
I'm pretty sure there is a baloon payment of 6-8k at the end of 5 yrs. Somewhere in that range to bring it to 850/month. I'll take it for another test drive this weekend, had the same feelings as you. 66K is steep, this is for a 2010 model?
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      03-30-2011, 03:20 PM   #21
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It is 2010, but the car was originally purchased in October 09.

When the tires were cold, car was trying to go sideways even with very little throttle applied. Stability control was kicking in until tires warmed up a bit.
I told to the sale person and his manager that for this money I would rather get new one. They are not even giving additional warranty on 2010 CPO...


Quote:
Originally Posted by Kartelli View Post
I'm pretty sure there is a baloon payment of 6-8k at the end of 5 yrs. Somewhere in that range to bring it to 850/month. I'll take it for another test drive this weekend, had the same feelings as you. 66K is steep, this is for a 2010 model?
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      04-04-2011, 10:08 AM   #22
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^ I had an hr test drive of the c63 this weekend.

My biggest pet peeve is the traction control system. Either its on full nanny mode, or completely off. There is no inbetween. There should a be a medium setting to have some fun, but not kill yourself.

Suspension is almost identical to my M3 without EDC (~ sport mode setting). Torque monster, yes, alot more fun booting around town with extra low end torque. I haven't driven a dct m3 yet, but I'm sure the experience is just as good.

The auto tranny isnt bad, although the downshifts take time (can't downshift too fast, goes 1 gear at a time, abit of lag).

I give it a 8.5/10 review.
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