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      10-05-2011, 03:19 PM   #23
SirLance99
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Originally Posted by SamS View Post
I've leased a vehicle in the past where I've been able to profit by selling the car (truck, in this case) before I've turned it in.

A few months before the lease was up, I took it to Carmax. They gave me an offer on the spot which was a few hundred higher than my payoff amount. I took them up on the offer. They filed all the paperwork, and cut me a check within 24 hours. You could use the same concept with a private buyer, but the paperwork can get a bit tricky.

Just as an aside, that was the last time I leased. I really prefer straight purchase/finance these days. I feel it offers me the most flexibility.
Thank you Sir. I might look into doing that 3 years from now.
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      10-05-2011, 03:43 PM   #24
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The fact you drive a lot of miles and maybe need to put down 5% (not a smart idea with a lease, think minimum drive off) I would vote you attempt to buy. I lease my vehicles, as I am self employed and I am able to take advantage of the tax write off afforded to me by leasing. If the only way you can afford a brand new M3 is by leasing than I would look at used and buying vs. leasing new.

One other thing..this is constructive criticism, you really need to spell check and re-read your posts before you finalize your post. Maybe english is not your native language, if it isn't my apologies for my ignorance. Your post was kind of hard to read and when making a post regarding finances it is even more important. Just an FYI, its which not witch route would you take...

I am not the spelling or grammar police, my business partner dogs me out all the time and I probably made a few errors here. Its just if I were you I would make an extra effort critiquing your own post before hitting the post button, especially if the post is regarding finances.


Dave


Sorry for the grammar issues. Usually iam more more on top of it lol.

I would be able to afford an M3 either new,used, Lease or Buy. Iam just looking for the best deal possible witch is why i need advice from the best people i could ask witch is current m3 owners/renters.

Maybe i have not made my previous post clear or iam being very vague. I have never financed a vehicle before witch is why i seem uneducated about it .

Iam not sure what BMW offers as their lowest interest rate, I guess i was misinformed as a few of my friends from California told me their rates we above %6.


As someone said before maybe i should have made it a poll on whether you leased or financed plus details on interest rates and payments. Sorry for the whole mix-up guys.
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      10-05-2011, 04:57 PM   #25
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Can you please elaborate on this a little more. I'm going to lease as well as I'm self employed but do not know what you're saying on this. Thanks
My 01 M3 had a payoff at the end of lease of $29k, I sold the car for $37k. My 04 M3 at the end of the lease had a buyout of $31k, sold this car for $39k. My 07 997S I just walked away at the end of the lease as the buyout was pretty much what I owed at the end of the lease. I tried selling it for $55k a year or so ago and my buyout was right at $50k..no takers. I just turned it in and walked away.

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      10-05-2011, 05:33 PM   #26
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Originally Posted by Jon335iFL View Post
Sorry for the grammar issues. Usually iam more more on top of it lol.

I would be able to afford an M3 either new,used, Lease or Buy. Iam just looking for the best deal possible witch is why i need advice from the best people i could ask witch is current m3 owners/renters.

Maybe i have not made my previous post clear or iam being very vague. I have never financed a vehicle before witch is why i seem uneducated about it .

Iam not sure what BMW offers as their lowest interest rate, I guess i was misinformed as a few of my friends from California told me their rates we above %6.


As someone said before maybe i should have made it a poll on whether you leased or financed plus details on interest rates and payments. Sorry for the whole mix-up guys.
No sweat Jon...BMW has excellent finance rates right now on 2011 M3s. I believe they have 1.9% financing for 60mos.

The leases are pretty attractive as well. The residuals aren't to high and the money factors are OK,not the best but pretty good.

Oh, once again its which, not witch...just busting your balls.

If you plan on keeping the car for beyond the lease period I would highly consider buying. I leased but I am now considering buying the car at the end of the lease. What is nice is BMWFS will convert the lease to a purchase at their best prevaling rate.

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      10-05-2011, 05:35 PM   #27
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This was actually one reason that motivated me to get the M3 lol

The SLK still had about 4 or so months left, but the offer I got from CarMax and the dealer was $1500 more than the payoff at the time.
Also, I would have had to spend $400+ on Service C, AND paid a $600 deposition fee..

So $1500 in my pocket, and $1k saved... no brainer.
Drive off on the M3 was under $2k, so it worked out great.
Payments were a lot more a month...but it has been so worth it

I doubt I'll be able to do the same with the M3 though...I think my residual was 65%?
And on the new Z4, I think it was 82%?
No way I'll be able to sell either of these prior to lease end for profit...

Low residual = higher monthly, but chance to make $ back from selling the lease
high residual : lower monthly, lower cost overall most likely, little chance of making $ back from selling the lease
My residual is only 55% after the end of the 3 years or $36.5k. Man even right now 08 M3s are selling from $45k+ and up.

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      10-05-2011, 05:41 PM   #28
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My residual is only 55% after the end of the 3 years or $36.5k. Man even right now 08 M3s are selling from $45k+ and up.

Dave
When is your lease over?

i think my payoff will be about 55 or 58k when my lease comes due end of 2013
lol
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      10-05-2011, 06:06 PM   #29
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Originally Posted by Dave07997S View Post
No sweat Jon...BMW has excellent finance rates right now on 2011 M3s. I believe they have 1.9% financing for 60mos.

The leases are pretty attractive as well. The residuals aren't to high and the money factors are OK,not the best but pretty good.

Oh, once again its which, not witch...just busting your balls.

If you plan on keeping the car for beyond the lease period I would highly consider buying. I leased but I am now considering buying the car at the end of the lease. What is nice is BMWFS will convert the lease to a purchase at their best prevaling rate.

Dave





lol, thanks alot for the info.
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      10-05-2011, 10:01 PM   #30
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When is your lease over?

i think my payoff will be about 55 or 58k when my lease comes due end of 2013
lol
My lease is up 27 June 2013...are you sure your residual is that high?

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      10-06-2011, 01:01 AM   #31
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My lease is up 27 June 2013...are you sure your residual is that high?

Dave
Z4 I know for a fact is 80% or 82%

I mixed up the 35i and 35iS residuals, since i wanted a iS, but they didn't have any, so I had to get a regular 35i.

M3 is either 63 or 65%

This is end of last year when residuals on e93 M3s were really high

I put about $2k drive off, 811/month with 9.75% tax included and 7MSDs ($6k)
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      10-06-2011, 01:40 AM   #32
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Z4 I know for a fact is 80% or 82%

I mixed up the 35i and 35iS residuals, since i wanted a iS, but they didn't have any, so I had to get a regular 35i.

M3 is either 63 or 65%

This is end of last year when residuals on e93 M3s were really high

I put about $2k drive off, 811/month with 9.75% tax included and 7MSDs ($6k)
Was this on a 2 yr. lease? I leased 6/2010 when the 2011 ZCP cars just hit. My residual is 56% for a 3 yr., just checked it out.

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      10-06-2011, 01:45 AM   #33
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Was this on a 2 yr. lease? I leased 6/2010 when the 2011 ZCP cars just hit. My residual is 56% for a 3 yr., just checked it out.

Dave
Z4 is 2
M3 is 3
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      10-06-2011, 04:32 AM   #34
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i was just thinking about the topic of this. my residual for a e92 m3 (73k sticker) is 62%.

i cant believe the residual for the z4 is so high ( the payments on those were ridiculous at one point if i remember)

i think my buyout is 44k after 3 years. would you guys say 3 years down the road and 36k miles, the car would be worth more than that... I hope so.
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      10-06-2011, 10:33 AM   #35
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I went for a lease this time around. My first time actually.

I paid less than $2k up front. I'm not too concerned about walking away with "nothing" in a few years. There really are no guarantees that you will build equity financing a car.

The only real hangup for me about leasing is the mileage aspect. I did 3 years 36k miles which is realistic now. From what I've seen, trying to lease for anything above 15k per year starts to be cost prohibitive.
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      10-08-2011, 12:59 AM   #36
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I plan on leasing for 2 reason:

1)I can write off a portion of my lease for my business
2)CPO at the end of 3 years as I plan on owning the car for as long a possible. A good way of getting extended warranty via CPO then buying 3rd party warranty.

I have the cash to pay but don't for these 2 reasons. Anyone else leasing because of the CPO at the end of the lease? Am I nuts to think like this?
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      10-08-2011, 01:36 AM   #37
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BUY.
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      10-09-2011, 01:10 AM   #38
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Quote:
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I did PenFed for 60 months at 2.49%. I couldn't get the 1.99%, I think BMW rates or higher, or 1.99% caps at 48 months.
BMWNA is running 1.9% for 36 months, or 2.9% for 37-60 months for a new e90 M3 (2011). Not sure about used. This is the special they've had all summer and into the fall, it always says its only for a month then they end up positing it again the following month.

I went the 36 month route, with 20% down. 1.9% is almost free money.

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No sweat Jon...BMW has excellent finance rates right now on 2011 M3s. I believe they have 1.9% financing for 60mos.
Man, I wish it was 60 months. That would be something, definitely would've went that route if it was available.

OP - did you say you wanted a e90 m3? I believe all the allocations are gone and production is wrapping up at the end of the month, so you are most likely looking at a used e90, or one that's on the lot already.

Last edited by doc19; 10-09-2011 at 10:27 PM. Reason: clarification
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      10-09-2011, 02:51 PM   #39
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BMWNA is running 1.9% for 36 months, or 2.9% for 37-60 months for a new M3. Not sure about used. This is the special they've had all summer and into the fall, it always says its only for a month then they end up positing it again the following month.

I went the 36 month route, with 20% down. 1.9% is almost free money.



Man, I wish it was 60 months. That would be something, definitely would've went that route if it was available.

OP - did you say you wanted a e90 m3? I believe all the allocations are gone and production is wrapping up at the end of the month, so you are most likely looking at a used e90.
With approved credit I believe it's 3.9% apr up to 72 months through BMW Financial.

Great thread, I was thinking about starting one. Calling all lease people. Can you answer this:

Is the early lease buyout price based on MSRP or based on the negotiated sale price?

For example, I'm getting ready to lease an M3 Monday. MSRP is 75,425, Sale Price is 68k. Say something comes up, and I need to get out of the lease in a month (extreme thinking) is my buyout price based on the 68k figure or the MSRP figure. I know they determine the residual at lease end, based on MSRP, so is my buyout anytime before that ALSO basee on MSRP?

If based on MSRP, and if I like the idea of more readily being able to unload the lease for the smallest amount. I should finance the car, sure the payment is slightly higher per month on a 72 month term at 3.9% apr: ($1,061/month) lease price with also zero down is 889/month. BUT with the finance, I think I'm coming out ahead if I need to try and sell in a year or so. Thoughts?

Thanks!

Last edited by IS350; 10-09-2011 at 03:00 PM.
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      10-09-2011, 03:45 PM   #40
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With approved credit I believe it's 3.9% apr up to 72 months through BMW Financial.

Great thread, I was thinking about starting one. Calling all lease people. Can you answer this:

Is the early lease buyout price based on MSRP or based on the negotiated sale price?

For example, I'm getting ready to lease an M3 Monday. MSRP is 75,425, Sale Price is 68k. Say something comes up, and I need to get out of the lease in a month (extreme thinking) is my buyout price based on the 68k figure or the MSRP figure. I know they determine the residual at lease end, based on MSRP, so is my buyout anytime before that ALSO basee on MSRP?

If based on MSRP, and if I like the idea of more readily being able to unload the lease for the smallest amount. I should finance the car, sure the payment is slightly higher per month on a 72 month term at 3.9% apr: ($1,061/month) lease price with also zero down is 889/month. BUT with the finance, I think I'm coming out ahead if I need to try and sell in a year or so. Thoughts?

Thanks!
Residual is based on MSRP. Buyout is all your payments plus residual which you can negotiate if you like. Once the lease has been establish, payment portion cannot be changed.
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      10-09-2011, 03:48 PM   #41
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Residual is based on MSRP. Buyout is all your payments plus residual which you can negotiate if you like. Once the lease has been establish, payment portion cannot be changed.
Thanks,
Can you negotiate buyout at anytime during the lease, or can you only negotiate at end of the lease term?
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      10-09-2011, 08:04 PM   #42
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Buy a CPO instead of leasing new.
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      10-09-2011, 09:18 PM   #43
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BMWNA is running 1.9% for 36 months, or 2.9% for 37-60 months for a new M3. Not sure about used. This is the special they've had all summer and into the fall, it always says its only for a month then they end up positing it again the following month.

I went the 36 month route, with 20% down. 1.9% is almost free money.
Be careful about generalizations. There are different rates for different models.

And 1.9% for 36 months/2.9% 60 months for M3 is for 2011 models, I've purchased a 2012.
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      10-09-2011, 09:26 PM   #44
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Be careful about generalizations. There are different rates for different models.

And 1.9% for 36 months/2.9% 60 months for M3 is for 2011 models, I've purchased a 2012.
Hopefully everyone knows they can go here for the actual numbers/models:
http://www.bmwusa.com/Standard/Conte...X/K3ltcN/sgA==
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