lease question for a friend

Duder · 07-03-2015, 03:36 PM

so I have a friend looking to possibly get into a lease on a M4. wants payments around $600 a month. at a price of $80,000 and 12,000 miles a year, how much should he put down to get to the $600 mark? what seems fair?

Never Convicted · 07-03-2015, 04:44 PM

$60,000

V3rbatim · 07-03-2015, 04:46 PM

I would advice not to put money down on a lease. I would do max 7 msds instead but if he really wants $600 a month then he will have to put a large down to get his payments that low which is dumb. Read this thread. You and your friend could learn something.

http://f80.bimmerpost.com/forums/sho....php?t=1084623

Duder · 07-03-2015, 05:09 PM

awesome. thanks for the info! I'll pass it along. he saw my new M4 and immediately needed one hahahaha

firstknight69 · 07-03-2015, 05:34 PM

Sounds like maybe your friend is trying to live beyond his means.

Duder · 07-03-2015, 06:29 PM

Quote:

Originally Posted by firstknight69

Sounds like maybe your friend is trying to live beyond his means.

not at all. just wants to know what he should do to get it to that point. whether it's money down or whatever. he has the money to do more but just doesn't want to. it's understandable.

keylime503 · 07-03-2015, 06:33 PM

If his "budget" allows $600 a month and it requires a down payment to get to that point, then that car is not in his budget. Now, if his budget is $600 a month plus X amount down payment, then take X/36 and add it to the $600 monthly budget. Do not put money down on a lease.

48Laws · 07-03-2015, 06:41 PM

Quote:

Originally Posted by Never Convicted

$60,000

OneRib · 07-03-2015, 07:46 PM

Quote:

Originally Posted by Duder

not at all. just wants to know what he should do to get it to that point. whether it's money down or whatever. he has the money to do more but just doesn't want to. it's understandable.

Simplest approach is to get the best deal possible on the car and max MSDs (if desired). Then see what the monthly payment is; lets call it Y. Not matter what Y is subtract 600 and call that number G. G x 36 will be exactly the amount he should put in his own account. He can then set up the account to transfer a portion every month to equal a 600/month payment.

The only decent reason (not a great one) to put money down on a lease is to reduce the interest paid over the lease. But I don't think it's worth the potential hassle of losing some or all of the down payment money should the car get totaled/stolen/etc.

wazzza · 07-03-2015, 07:50 PM

I am not sure if he can get it close to $600 if you option it up to 80K. However, barebones M4 + 7 MSDs should get him there.

Duder · 07-03-2015, 08:41 PM

alright. thanks for the info guys!

///F80M3 · 07-03-2015, 09:08 PM

Yes, as someone posted he can get $600 if he pays taxes up front and msrp less than $80,000.

48Laws · 07-03-2015, 11:28 PM

Quote:

Originally Posted by utsavized

I am not sure if he can get it close to $600 if you option it up to 80K. However, barebones M4 + 7 MSDs should get him there.

No. $600/month for a 5 year loan is only $36k. And that's with zero interest and taxes.

MKParris · 07-04-2015, 07:52 AM

Quote:

Originally Posted by keylime503

If his "budget" allows $600 a month and it requires a down payment to get to that point, then that car is not in his budget. Now, if his budget is $600 a month plus X amount down payment, then take X/36 and add it to the $600 monthly budget. Do not put money down on a lease.

this.

I wanted a "low" lease payment, so I didn't spec out an incredibly expensive car, and I put down 7 security deposits to get my lease to $683. No other money out of pocket besides acq. fee .

MRCUR · 07-04-2015, 09:47 AM

Quote:

Originally Posted by 48Laws

No. $600/month for a 5 year loan is only $36k. And that's with zero interest and taxes.

Talking about leasing, not financing.

Miamiboyca · 07-04-2015, 04:15 PM

I think if you and your friend are posing this question neither of you understand leasing. I would recommend you understand leasing for leasing.

Duder · 07-04-2015, 04:37 PM

Quote:

Originally Posted by Miamiboyca

I think if you and your friend are posing this question neither of you understand leasing. I would recommend you understand leasing for leasing.

I don't know anything about leasing otherwise I would have told him myself. that's why I asked here.....

Miamiboyca · 07-04-2015, 05:03 PM

Quote:

Originally Posted by Duder

I don't know anything about leasing otherwise I would have told him myself. that's why I asked here.....

Then start here -

http://f80.bimmerpost.com/forums/sho....php?t=1084623

Lease facts 101

07-03-2015, 03:36 PM	#1
Duder Second Lieutenant 180 Rep 255 Posts Drives: 2015 M4 Join Date: May 2015 Location: Irvine, CA iTrader: (0)	lease question for a friend so I have a friend looking to possibly get into a lease on a M4. wants payments around $600 a month. at a price of $80,000 and 12,000 miles a year, how much should he put down to get to the $600 mark? what seems fair? __________________ 2015 M4 Sakhir Orange, Executive Package, Adaptive M, 19" Wheels, Black Merino Leather
	Appreciate 0 Tweet Quote

07-03-2015, 04:44 PM	#2
Never Convicted Lieutenant Colonel 1108 Rep 1,497 Posts Drives: M4 Join Date: Dec 2012 Location: Charlotte NC iTrader: (0)	$60,000
	Appreciate 2 Quote

07-03-2015, 04:46 PM	#3
V3rbatim Captain 164 Rep 534 Posts Drives: 2016 m3 Join Date: Jun 2015 Location: NJ iTrader: (0)	I would advice not to put money down on a lease. I would do max 7 msds instead but if he really wants $600 a month then he will have to put a large down to get his payments that low which is dumb. Read this thread. You and your friend could learn something. http://f80.bimmerpost.com/forums/sho....php?t=1084623
	Appreciate 0 Quote

07-03-2015, 05:09 PM	#4
Duder Second Lieutenant 180 Rep 255 Posts Drives: 2015 M4 Join Date: May 2015 Location: Irvine, CA iTrader: (0)	awesome. thanks for the info! I'll pass it along. he saw my new M4 and immediately needed one hahahaha __________________ 2015 M4 Sakhir Orange, Executive Package, Adaptive M, 19" Wheels, Black Merino Leather
	Appreciate 0 Quote

07-03-2015, 05:34 PM	#5
firstknight69 Private First Class 29 Rep 120 Posts Drives: 2024 M4, Imola Red Join Date: Nov 2014 Location: NYC iTrader: (0)	Sounds like maybe your friend is trying to live beyond his means.
	Appreciate 0 Quote

07-03-2015, 06:33 PM	#7
keylime503 Major 630 Rep 1,227 Posts Drives: M2C 6MT, Audi A4 Avant Join Date: Dec 2014 Location: Bay Area, CA iTrader: (0)	If his "budget" allows $600 a month and it requires a down payment to get to that point, then that car is not in his budget. Now, if his budget is $600 a month plus X amount down payment, then take X/36 and add it to the $600 monthly budget. Do not put money down on a lease.
	Appreciate 0 Quote

07-03-2015, 07:50 PM	#10
wazzza Captain 854 Rep 682 Posts Drives: 2023 G80x M3C Join Date: Oct 2012 Location: Seattle, WA iTrader: (0) Garage List 2023 BMW M3 Competi ... [9.75]	I am not sure if he can get it close to $600 if you option it up to 80K. However, barebones M4 + 7 MSDs should get him there. __________________ 2023 G80x M3C \| 2018 X5M [Current] 21 G80 M3C \| 19 AUDI RS5 \| 15 F06 M6 GC \| 18 AMG C63S Coupe \| 15 F82 M4 \| 14 M235i \| 08 E92 328xi \| 95 E36 328i R.I.P [Previous]
	Appreciate 0 Quote

07-03-2015, 08:41 PM	#11
Duder Second Lieutenant 180 Rep 255 Posts Drives: 2015 M4 Join Date: May 2015 Location: Irvine, CA iTrader: (0)	alright. thanks for the info guys! __________________ 2015 M4 Sakhir Orange, Executive Package, Adaptive M, 19" Wheels, Black Merino Leather
	Appreciate 0 Quote

07-03-2015, 09:08 PM	#12
///F80M3 Major 654 Rep 1,095 Posts Drives: 16 AW M3 Join Date: Mar 2015 Location: NYC iTrader: (0)	Yes, as someone posted he can get $600 if he pays taxes up front and msrp less than $80,000.
	Appreciate 0 Quote

07-04-2015, 04:15 PM	#16
Miamiboyca Lieutenant Colonel 480 Rep 1,360 Posts Drives: 2015 MW - F80 Join Date: Oct 2012 Location: Dallas, TX iTrader: (0) Garage List 2015 BMW F80 M3 [10.00]	I think if you and your friend are posing this question neither of you understand leasing. I would recommend you understand leasing for leasing. __________________ 2015 M3 - MW, Sonoma, Exec, LED, Adaptive, HK, 19" Light, 6M ED 7/7/2015 - Redelivery-8/18/15 2013 535i - SG, Sonoma, M-SPort, Prem, Tech, CW, Lux Seating, PDC, 6MT ED-10/11/2012/PCD -12/14/12
	Appreciate 0 Quote