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costasz
05-08-1999, 09:20 PM
I just got my M Coupe ( put deposit down on a in-stock silver ) and I'm trying to decide between going with the BMW lease or financing it myself.<br>I think I am getting ripped off by BMW but it might just be that I don't understand leases ( this is my first one ).<p>On a $38,500 purchase price I was quoted a $490 payment for 36 months no money down, but with a $29,000 residual. The guy claimed that this was for a 7% APR BMW lease. That means that for the $9,500 difference between residual and purchase price I am paying $8,140 in interest which comes to 48% APR. Does this sound right to you guys ?<p><p>

interest is on full price, not diff - dp
05-08-1999, 09:30 PM
<i>: I just got my M Coupe ( put deposit down on a in-stock silver ) and I'm trying to decide between going with the BMW lease or financing it myself.<br>: I think I am getting ripped off by BMW but it might just be that I don't understand leases ( this is my first one ).<p>: On a $38,500 purchase price I was quoted a $490 payment for 36 months no money down, but with a $29,000 residual. The guy claimed that this was for a 7% APR BMW lease. That means that for the $9,500 difference between residual and purchase price I am paying $8,140 in interest which comes to 48% APR. Does this sound right to you guys ?<p><br></i>

J.D.
05-08-1999, 09:44 PM
<br>In a lease, you are technically paying for the depriaction. From your lease numbers, you are paying for a 7.5% deprication. More importantly, are taxes included in the monthly payment? Also, depending on where you live, there may be "premium" charged by the dealer.<p>Remember though, with a lease, you can't modify the vehicle permantly, or you'll pay dearly. Usually, leasing and financing both work out to be the same. At the end of a 3 year period, you may have paid more for the Coupe if you financed, but remember that you can sell the Coupe if you finance it. If you lease, at the end of 3 years, you turn it in and walk away--that or you pay $29,000 and keep it longer.<p>J.D.<br>

costasz
05-08-1999, 09:57 PM
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dp
05-08-1999, 10:17 PM
i was quoted the SAME payments by a ford dealer on a 3yr lease on a contour svt, a $23,000 car... if you only intend to keep the car a few years, lease is better. if value at the end is higher than residual, you can sell the car and keep the difference. if it's lower, you can just walk away and let the lease company eat the loss (my leased suv is now worth 11K, with a 14.5K residual). if you want to keep and/or modify the car, consider purchase - as i did with my coupe.

DCC
05-09-1999, 08:32 PM
$38,500 is a very good price on the M Coupe<br>Is this a '99?...What Options?...How many miles?<p>Dan<p><p><br><i>: I just got my M Coupe ( put deposit down on a in-stock silver ) and I'm trying to decide between going with the BMW lease or financing it myself.<br>: I think I am getting ripped off by BMW but it might just be that I don't understand leases ( this is my first one ).<p>: On a $38,500 purchase price I was quoted a $490 payment for 36 months no money down, but with a $29,000 residual. The guy claimed that this was for a 7% APR BMW lease. That means that for the $9,500 difference between residual and purchase price I am paying $8,140 in interest which comes to 48% APR. Does this sound right to you guys ?<p></i>

costasz
05-10-1999, 09:47 AM
That you can make the leasing company a buy offer at the end if the residual is higher than current market value and that they usually accept it rather than going out and trying to sell the car which costs them money because they would get wholesale value for it at that time.<br>Is that true ?

dp
05-10-1999, 10:26 AM
<i>: That you can make the leasing company a buy offer at the end if the residual is higher than current market value and that they usually accept it rather than going out and trying to sell the car which costs them money because they would get wholesale value for it at that time.<br>: Is that true ?<p></i>

costasz
05-10-1999, 01:27 PM
I had to talk them down to that. The sales guy mentioned something about BMW having some incentive for them to get rid of the 99's right now.<br>The car has the sunroof but no CD-player.<br>I want/will get the CD-changer anyway.<br>Did I mention I am picking it up on Thursday ?<br>BTW, they had 2 more 99's, a black and a blue both with black interiors. They also had a silver 2000 M Coupe and a green 1998 M Roadster. All the other dealers in the area had none.<br>


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