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03-04-2009, 05:26 PM | #1 |
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Is this a good deal on a 2008 m3 convertible??
Hi guys!!
I am a long time lurker, first time poster. I really need your advice on this deal. So, I am currently leasing a 07 m coupe but turn out that I just couldn't live with it as daily driver. I been hoping to get in to a E9X m3 for quite sometime and I recently notice a 2008 m3 vert sitting on the dealer lot with a huge discount. So I asked them what if I trade in my lease and lease the 2008 m3 vert instead. My m couple still have 19 months to go until the end of lease and the residual is about $41000. The buy out as of now is about $50000. The m3 is equipped with mdrive pkg, executive pkg, 19' wheels total vehicle price @94295. They offered to take care of the rest of the lease payment on the m coupe and start a new lease for 36 months @4.4% lease rate, 10k down and $1525 / month tax in. The problem is the car is melbourne red, not a colour that I am crazy about, but I always love the vert. Also, I found the lease payment a bit on the higher end, not really sure it's a good deal or not. Any input is welcome.. |
03-05-2009, 06:35 AM | #3 |
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I could only imagine that they're having a hard time getting rid of this m3, or they have some kind of incentive from bmw.
I think the monthly payments are quite high because the residual is quite low @ 49% ( $45129). Do you guys think I would be better of just lease a 09 instead? would the residual be different? thanks in advance |
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03-05-2009, 07:18 AM | #4 |
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It probably wouldnt hurt to get a quote on an 09 for comparison purposes, configure one the same way and then one exactly the way you would want it. I am not sure that the residual on an 09 would make up for the substantial discount being offered on 08 inventory. The remaining lease payments on your existing car is really the factor. Any chance you could find someone to take it over?
The down payment and payment is probably not too bad when you consider that you are upside down in your current lease. Good luck! |
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03-07-2009, 04:41 AM | #5 |
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I agree with you Jaypod, the best scenario is transferring the lease to someone else.
I compare the lease with my dealer today; the difference between the 08 and 09 is not that significant. So I mind as well get the 09 where I could spec it to my liking Anyway, thanks for all the advice ^^ |
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03-07-2009, 09:33 AM | #6 | |
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They quoted you 1525$ tax in with 10,000$ down with them taking your car. Without them taking it you'll probably be paying 1150$ tax in 0$ down. |
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03-07-2009, 10:28 AM | #7 | |
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thats a little high. ($1525 with 10gs down) But its probably only because of your exisiting lease. I would find someone to take over your lease and then get into this car for closer to $1000 a month as mentioned above!
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