2020/19 M4 lease vs Buy CPO

[TheGreatestDane]

New to the family! I have some questions.

I know this thread as come up quite a bit but you guys know so much more about this than I do.

Currently in a 2015 428 I love. I bought it CPO, two years ago, and added coverage through October 2021 at time of purchase. The payments are $383 with tax and the coverage. I put down $5000 and am level or have about $1000 in equity on the car at present.

I, like so many of you, love the F80. The new one is coming but I want one from this era. I'm not terribly picky and just know I want one from 2016-2020.

Given the current hard times, and the incoming change to the line, I thought the time to get one might be now through the end of the year?

I see myself keeping it for a long time. But who knows right?

I don't think a near $1000 a month payment makes sense for me, but have seen some people pay that on their lease.

I've gotten various responses from dealers in my area. One said he just sold a 2019 with $6000 down and a $925 payment...I passed on the opportunity as that strikes me like him really screwing someone over.

I have been quoted $750 a month on a 2017 CPO with 35k miles on it, with $2000 down. Just as an example of what's available in my area. Keep in mind that's a number over text messages with someone who simply responded to an online request and no negotiating or number manipulation has happened.

In this case, what would you guys do?

[N1rve]

If you really want the F80 and can afford it, I would just get it now.

[Jason60051]

I'm no where near $1k a month on my f80 on the lease and that was with $0 down...10k miles a year.

You really need to be patient and take your time looking for the right car and right price. Covid will continue to pummel the auto industry so my guess is the prices will continue to fall slightly and dealers will be more inclined to work with you.

Just remember you have the upper hand...the dealer needs your sale more than you need the m3.

[wam22]

You need to figure out what your monthly/overall budget is and money down first. If your budget is $500/mo and $0 down, you can buy a car that is around $25k-$30k for 60 months (depends on interest rate/taxes).

Just doing a quick cars.com search, it seems like the cheaper CPO M4s are around $47k. So lets say that after taxes/fees/negotiating you are all in for $50k. A $50,000 loan at 5% for 60 months is $944/mo. Same terms at 72 months (which I do not recommend) is $694/mo.

If you want a good idea of what these cars are actually leasing for, jump over to swapalease and see what people are listing M3/M4 and CS models for.

[65fastback]

Set a payment amount you can comfortably afford.
Figure out what options are a must have and colors that you can't do. If its a long term car you need to narrow all this down or else all the little things you didnt think were a big deal might bother you down the road.

Test drive as many as you can!

You MUST be willing to walk on a car you really want in order to get the best possible deal. Thats what i did and it saved me thousands.

[snesh]

I want a sub $500 a month payment so I'm putting 20k down and stretching out the financing as much as I can

[MNhv]

My general guideline is that if I can't comfortably afford two of them then it's unwise to get one.

[TheGreatestDane]

Originally Posted by Jason60051

I'm no where near $1k a month on my f80 on the lease and that was with $0 down...10k miles a year.

You really need to be patient and take your time looking for the right car and right price. Covid will continue to pummel the auto industry so my guess is the prices will continue to fall slightly and dealers will be more inclined to work with you.

Just remember you have the upper hand...the dealer needs your sale more than you need the m3.

Great point.

[TheGreatestDane]

Originally Posted by wam22

You need to figure out what your monthly/overall budget is and money down first. If your budget is $500/mo and $0 down, you can buy a car that is around $25k-$30k for 60 months (depends on interest rate/taxes).

Just doing a quick cars.com search, it seems like the cheaper CPO M4s are around $47k. So lets say that after taxes/fees/negotiating you are all in for $50k. A $50,000 loan at 5% for 60 months is $944/mo. Same terms at 72 months (which I do not recommend) is $694/mo.

If you want a good idea of what these cars are actually leasing for, jump over to swapalease and see what people are listing M3/M4 and CS models for.

Thank you for doing all of that.

[paliknight]

One piece of advice, make sure you inquire here BEFORE you close on a deal if you want our advice, NOT after.

Also, either that dealership is talking out of its ass, or someone has way more money than brains. (6k down 925 a month deal) maybe for an M5.

[TheGreatestDane]

Originally Posted by paliknight

One piece of advice, make sure you inquire here BEFORE you close on a deal if you want our advice, NOT after.

Also, either that dealership is talking out of its ass, or someone has way more money than brains. (6k down 925 a month deal) maybe for an M5.

I'll definitely do that. Needing to run it by you guys forces me to not make an impulse choice. I'm using it for that since this should never be rushed.