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      02-20-2012, 11:14 PM   #1
enfield
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Anyone interested in an 08 E92 6MT

Hi guys - I have a 2008 E92 M3, 6MT, 55000 km, Silverstone, bought new Feb 24, 2009 (warranty valid till Feb 24, 2013), Executive Package, MDrive, High Gloss Shadowline, Silverstone - has 18 inch rims, carbon fibre roof, and no EDC. 39 month lease ends May 24, 2012.

I am going to be giving it back to BMW London since I am getting into a Range Rover Sport Supercharged. I am throwing this out here - I would rather if one of my fellow M3 guys get a shot at this car before the dealership. If any of you want to take over the lease (you will have to pay for the lease transfer) for the last 1 or 2 months (monthly payment 1536) and then buy it out for 36K plus tax then PM me. I did get rear ended last year and the new bumper and heat shields cost 3.5K - repairs were done by a BMW certified shop.

My Range Rover is here and the dealership will hold it for me till I finish the M3's lease. I do not mind waiting till May 24th. If you want winter rims (M5 replica) and Hakka R's in 245/40/18 then you can have them for 1K with the car. You will need to buy front summer tires within 4-6 months & the rears are from July 2011. The winter tires have been on the car since January 2011 and were removed over the summer. There is lots of tread on those. I will be happy to email photos for people who are serious.

Cheers.
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      02-21-2012, 09:29 AM   #2
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Quote:
Originally Posted by enfield View Post
Hi guys - I have a 2008 E92 M3, 6MT, 55000 km, Silverstone, bought new Feb 24, 2009 (warranty valid till Feb 24, 2013), Executive Package, MDrive, High Gloss Shadowline, Silverstone - has 18 inch rims, carbon fibre roof, and no EDC. 39 month lease ends May 24, 2012.

I am going to be giving it back to BMW London since I am getting into a Range Rover Sport Supercharged. I am throwing this out here - I would rather if one of my fellow M3 guys get a shot at this car before the dealership. If any of you want to take over the lease (you will have to pay for the lease transfer) for the last 1 or 2 months (monthly payment 1536) and then buy it out for 36K plus tax then PM me. I did get rear ended last year and the new bumper and heat shields cost 3.5K - repairs were done by a BMW certified shop.

My Range Rover is here and the dealership will hold it for me till I finish the M3's lease. I do not mind waiting till May 24th. If you want winter rims (M5 replica) and Hakka R's in 245/40/18 then you can have them for 1K with the car. You will need to buy front summer tires within 4-6 months & the rears are from July 2011. The winter tires have been on the car since January 2011 and were removed over the summer. There is lots of tread on those. I will be happy to email photos for people who are serious.

Cheers.
Might be interested. Does the car have nav/idrive? Also, how severe was the damage from the accident? What kind of repairs were needed? And what is the lease transfer fee and how much is it? (don't really know much about leases).

My email is peterriad@hotmail.com
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      02-21-2012, 02:07 PM   #3
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got a picture of the car?
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      02-21-2012, 10:14 PM   #4
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I will post pictures with summer and winter tires/rims tomorrow.

MDrive is the M version of Navigation and IDrive. It has MDM mode as part of it in the 2008 M3. The rear bumper is new. There are new exhaust heat shields to protect the bumper from melting. The bumpers also have an egg crate sort of material that was replaced because it got crushed. Those were the only new parts required. Then there was paint and labour with taxes to make the total a tad under 3.5K.
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      02-21-2012, 10:42 PM   #5
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Quote:
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I will post pictures with summer and winter tires/rims tomorrow.

MDrive is the M version of Navigation and IDrive. It has MDM mode as part of it in the 2008 M3. The rear bumper is new. There are new exhaust heat shields to protect the bumper from melting. The bumpers also have an egg crate sort of material that was replaced because it got crushed. Those were the only new parts required. Then there was paint and labour with taxes to make the total a tad under 3.5K.
sounds like pretty good value if your numbers are correct. would have preferred edc but that's not a deal killer. might just go with coilovers anyway. why aren't you buying out the car and selling it on the used car market? you might make some money out of it.

Where in ontario are you anyway? If you're close to toronto i might drop in and see it.

Lastly, would it be possible to get it CPO by bmw? how much would that cost and what steps would be needed?
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      02-21-2012, 10:49 PM   #6
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I am in London (Ontario.) I can't be bothered to make a coule of thousand. I am more than willing to give it to the dealership. I know people are skeptical on a forum. I am trying to do a favour to one of us instead of BMW. I am trying to post pics off of flickr.... Do you know how.
I have not asked about CPO because I am not interested in keeping (or selling the car) and CPOing it.
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      02-21-2012, 10:53 PM   #7
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Let's see if this works....
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      02-21-2012, 10:55 PM   #8
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I do not know why the last pic stays upside down! This upside down one has the M5 replicas and Hakka R's on it. All photos are taken after the rear-ending!
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      02-22-2012, 01:37 AM   #9
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so when are you looking to sell? how many payments are left on it? if i understand correctly, the final cost is 36000X1.13 + 1536X# of payments left (how many?) + lease transfer fee (how much?) + 1000 (optional for winter wheels)

And have you done any mods to the car? Any scratches or chips to the paint or interior, etc?

If I buy the car, can I get it CPO'd or does a dealership have to buy the car first?

Last edited by canadian stig; 02-22-2012 at 08:02 AM.
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      02-22-2012, 01:48 PM   #10
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Quote:
Originally Posted by canadian stig View Post
so when are you looking to sell? how many payments are left on it? if i understand correctly, the final cost is 36000X1.13 + 1536X# of payments left (how many?) + lease transfer fee (how much?) + 1000 (optional for winter wheels)

And have you done any mods to the car? Any scratches or chips to the paint or interior, etc?

If I buy the car, can I get it CPO'd or does a dealership have to buy the car first?
Hey - I am not looking to sell it. I will give it back to BMW London on May 24, 2012 unless someone wants to take over the lease. If someone takes it on March 24 then there would be 2 payments - March & April 24th. The price at lease end is 36K plus tax.

Ofcourse it has chips to the paint. What 2008 car doesn't? It's a used car and not a garage queen. If you are leasing it then you can get it CPO'ed and buy it. At least that is what I was told.

Bottom line is: I am not interested in selling the car and doing the legwork. If I was interested in doing the legwork then I would CPO it, buy it and make 5K off of it. Doing the legwork is your job if you want the car. I will just give it to BMW London on May 24th and then they can do the legwork and make money off of the car.

Sounds like you would like me to to the legwork. That is not going to happen since I am trying to do a favour in the first place. I think people are skeptical of my intentions & I understand that. It will not be my loss since I do not want anything. Range Rover will hold my new car till my lease is up since they got my car too early. I do not gain or lose money whatever happens.

Best of luck.
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      02-23-2012, 01:55 AM   #11
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i searched online and it seems that bmw does not allow lease transfer within 6 months of expiration of the lease. any truth to that?

Found this link: http://www.takemypayments.com/company.php

Quote:
BMW Financial Services
Telephone: 800-398-3939
Lease Transfer Restrictions: Cannot transfer in final 6 months of lease (some exceptions may apply)
Lease Buyer Credit Application Fee: $0.00
Lease Transfer Fee (typically paid by lease buyer): $450.00
Does Original Lessee Remain Liable? No
Mileage Issues at Transfer: Per original
Wear & Tear Issues at Transfer: Per original
Does Security Deposit Transfer? Yes
Other Policy Information: Not Applicable

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      02-23-2012, 01:20 PM   #12
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Can this whole buying and selling process be done through BMW?
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      02-23-2012, 02:06 PM   #13
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Correct... I tried this and didn't work when I tried to purchase my dads x5. They for allow transfer of ownerships with less than 6 months.

Quote:
Originally Posted by canadian stig View Post
i searched online and it seems that bmw does not allow lease transfer within 6 months of expiration of the lease. any truth to that?

Found this link: http://www.takemypayments.com/company.php
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      02-24-2012, 09:24 AM   #14
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To the OP.
What you are doing is great.
It's an excellent opportunity for some-one to get into 3 year old M3 for around 10k less than it would cost at the dealership.
I was looking for this type of deal about year ago, but there were no responses to my posting.
Since the lease end is that close, you might have to buy out the car your-self to make a transfer. At the time I was willing to compensate for the trouble, as the deal is a steal compared to dealer prices.
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      02-24-2012, 11:04 AM   #15
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would the OP be willing to do that? since a lease transfer seems to be disallowed by bmw, would enfield be interested in buying out the car and then selling it for about 39-40k? you make a profit and also save a buyer a huge sum compared to buying it from bmw?
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      02-24-2012, 11:08 AM   #16
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Quote:
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Can this whole buying and selling process be done through BMW?
yes, but the whole point is to bypass bmw in the first place. if the op turns his car in at the end of the lease, the stealership will take the car, clean it up, CPO it, add 20k in markup and sell it on their lot for about 56k or so. 36k for an m3 is a steal. too bad it seems bmw won't allow a lease takeover close to the expiry of the lease term.
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      02-24-2012, 11:26 AM   #17
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I did a lease transfer with 4 months left on the agreement a few years ago. It was at Parkview BMW and it ended up costing over $1200 though.
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      02-25-2012, 12:25 AM   #18
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I was not planning on getting it CPO'ed and buying the car out and then selling it. I did not realize that BMW does not allow a lease transfer if there are less than 6 months remaining.

Need to keep in mind that if I get it CPO'ed then it will cost around 4K. That will bring the car's price to 40K. Then there will be HST on 40K & that will being the price yo 45.2K. Then I sell the car for 45.2K and there will be about 5.8K tax on it and now we are up to 51K. The dealership will put it on sale for 55K but will probably sell for less.

I think it would only help if you were able to do a lease transfer. I will be in touch with BMW London to ask if they would do a lease transfer since I do plan on getting a 2-seater roadster in 2 years as a summer car...... If the dealership is nice to me them I may get a Z4 (hopefully M) instead of getting a MB or Porsche. I have had 3 M cars since 2006. I will post back with their response......
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      02-28-2012, 03:24 PM   #19
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any updates enfield?
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      02-28-2012, 07:08 PM   #20
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any updates enfield?
I was in touch with the dealership and they gave me the 6 month standard reply.

It seems that a forum member has a contact at BMW and it sounds like this member will be taking the lease over.
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      02-28-2012, 07:16 PM   #21
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definitely pays to have friends in high places, huh? oh well, i'll just keep looking. thanks for the offer anyway.
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      03-05-2012, 09:16 AM   #22
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I did this for my friend on my previous M3.

When the lease was up, I had the ownership changed to him so he could have the buyout price (and save the taxes).

The dealership tried to stop it (because I had vs low kms and they wanted to sell it). We threatened legal action as I felt I had every right to do whatever I wanted with the lease.

In the end, the dealership agreed to do it (and make their highway robbery $1,200).
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