Euromotive Performance
BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read

Go Back   BMW M3 and BMW M4 Forum > BMW F80 M3 / F82 M4 Forum > F80 M3 / M4 Pricing, Ordering, European Delivery

Post Reply
 
Thread Tools Search this Thread
      07-02-2015, 07:18 PM   #309
MRCUR
Lieutenant Colonel
MRCUR's Avatar
United_States
801
Rep
1,777
Posts

Drives: 2018 M3 CS & 2018 Model 3 Perf
Join Date: Oct 2014
Location: PA

iTrader: (0)

Quote:
Originally Posted by JAC23
Quote:
Originally Posted by V3rbatim View Post
Bmw looks at more than just your credit score. They check if you had a previous car loan before and if you are able to handle the payments. You are talking about a $70k vehicle so if you never had a car loan before then they will ask for a cosigner. Combined creditcard balance also plays into credit check. It also depends on your monthly expenses and how much you make a year. Good luck!
This is what i was guessing since i've never had a car loan. Will adding a cosigner still help me build credit?
I really don't think you need a co signer. I've never been asked by BMW to have one, and my first car loan was for a 3 series. At the time I had almost zero credit history except for one card with an extremely low limit.
Appreciate 0
      07-02-2015, 07:19 PM   #310
Demxsr
Second Lieutenant
Demxsr's Avatar
107
Rep
204
Posts

Drives: 16 M4
Join Date: Jun 2015
Location: Cali / Hawaii

iTrader: (1)

I'd say if you don't do a ton of miles on your car and you're into getting new cars relatively frequently then leasing is the way to go. Assuming it's a good lease program.

I bought a new car last August for my primary vehicle. It just ticked over 4k miles this week. I would have come out ahead with a transfer / sale if I leased the car compared to buying it out right with cash.

Keep in mind that when you buy / finance a car you pay all the tax up front or it is added to the capital of the loan. And when getting rid of the car you can't realistically expect to get much, or any, back from that tax expense. When leasing you pay tax based on your monthly payment, and over the term you'll pay less than half the tax compared to buying.
Appreciate 0
      07-02-2015, 07:29 PM   #311
Demxsr
Second Lieutenant
Demxsr's Avatar
107
Rep
204
Posts

Drives: 16 M4
Join Date: Jun 2015
Location: Cali / Hawaii

iTrader: (1)

Quote:
Originally Posted by JAC23 View Post
Could someone explain how the credit check works with leasing. I am 25 yrs old with a credit score of 793 and i was told i could not qualify for the lease without a co signer. Thought this was ridiculous because i can certainly afford the payments. Does having a cosigner mean i won't build any credit on this lease?

Thanks for any help
Ya, I'm not sure what's going on with your situation. Like others have said, maybe go with a different dealer. I'm in a similar situation. I just turned 26 and just got myself a fully loaded m4, and had zero issues at the dealer and no need for a cosigner. It could be debt to income levels. Since '08 things have gotten tighter and usually they don't like that number to go above high 30's. Even if you don't have a mortgage they will count your rent as a monthly dept expense.

I doubt it is the case, but try to make sure you don't have any ID theft accounts running amuk.
Appreciate 0
      07-03-2015, 02:30 AM   #312
V3rbatim
Captain
160
Rep
544
Posts

Drives: 2016 m3
Join Date: Jun 2015
Location: NJ

iTrader: (0)

Quote:
Originally Posted by JAC23 View Post
This is what i was guessing since i've never had a car loan. Will adding a cosigner still help me build credit?
Well there you go. It will be difficult to get approved for a $70k vehicle. You have no car loan history of any kind. Cosigner is your best bet. That will also help you build credit. If you cant get a cosigner, I suggest getting a loan on a cheaper car to get your feet wet and to show you are capable of making payments. In my early 20s, I had to get my mother to cosign me to get a 2003 350z. Ever since then, I never needed a cosigner on any of my other vehicles. Just make sure you make your payments on time. Good luck.
Appreciate 0
      07-03-2015, 12:21 PM   #313
JAC23
Pirate
JAC23's Avatar
United_States
21
Rep
35
Posts

Drives: 2015 F80 MW m3
Join Date: Jan 2015
Location: South Carolina

iTrader: (0)

Quote:
Originally Posted by V3rbatim View Post
Well there you go. It will be difficult to get approved for a $70k vehicle. You have no car loan history of any kind. Cosigner is your best bet. That will also help you build credit. If you cant get a cosigner, I suggest getting a loan on a cheaper car to get your feet wet and to show you are capable of making payments. In my early 20s, I had to get my mother to cosign me to get a 2003 350z. Ever since then, I never needed a cosigner on any of my other vehicles. Just make sure you make your payments on time. Good luck.
Thanks a lot, appreciate all the help!
Appreciate 0
      07-05-2015, 09:36 PM   #314
JAC23
Pirate
JAC23's Avatar
United_States
21
Rep
35
Posts

Drives: 2015 F80 MW m3
Join Date: Jan 2015
Location: South Carolina

iTrader: (0)

So I'm about to sign for a lease but im not 100% sure if i should put money down or not. The msrp price at the dealership is $79K and i was able to get it down to 75K. My sales woman said the current interest rate is so low that it does not make sense to put money into MSD's (is that possible?).
Appreciate 0
      07-05-2015, 10:22 PM   #315
mephiska
Captain
mephiska's Avatar
United_States
508
Rep
998
Posts

Drives: 2016 M3
Join Date: Apr 2010
Location: East Bay

iTrader: (0)

Garage List
Quote:
Originally Posted by JAC23 View Post
So I'm about to sign for a lease but im not 100% sure if i should put money down or not. The msrp price at the dealership is $79K and i was able to get it down to 75K. My sales woman said the current interest rate is so low that it does not make sense to put money into MSD's (is that possible?).
Well she's wrong. Putting money down purely for MSD will reduce your effective interest rate significantly. Assuming you have a money factor of .00129, the max of 7 MSD takes your money factor to .0008, which takes you from an APR of 3.096% to 1.92%, a more than 1% reduction.

You have to consider your alternatives for what you'd do with that money otherwise over the next 3 years. Right now the risk-free rate on 3 year treasuries is less than 1%, and you'd have a little bit of duration risk if you invested that money otherwise. Can you, risk free, make more than 1% right now? Probably not. Max MSD makes sense.

This is all according to the awesome Leasematic app, and the math works out.
__________________
Appreciate 0
      07-05-2015, 11:24 PM   #316
smajin
Private First Class
United_States
46
Rep
141
Posts

Drives: M4
Join Date: Sep 2013
Location: PA

iTrader: (0)

Quote:
Originally Posted by mephiska View Post
Well she's wrong. Putting money down purely for MSD will reduce your effective interest rate significantly. Assuming you have a money factor of .00129, the max of 7 MSD takes your money factor to .0008, which takes you from an APR of 3.096% to 1.92%, a more than 1% reduction.

You have to consider your alternatives for what you'd do with that money otherwise over the next 3 years. Right now the risk-free rate on 3 year treasuries is less than 1%, and you'd have a little bit of duration risk if you invested that money otherwise. Can you, risk free, make more than 1% right now? Probably not. Max MSD makes sense.

This is all according to the awesome Leasematic app, and the math works out.
MSDs are actually way more favorable than this.

When you lease you're paying interest on the full value of the car (minus depreciation based on the residual %). For an M3 lease with no money down this means you're paying interest on roughly $60k. At 1% that means you're saving $600/yr with 7 MSDs.

If you invested 7 MSDs (roughly $6k) at 1% you'd only be earning $60/yr. You'd actually need to make somewhere around 10% on that investment just to break even.

Disclaimer: Numbers are greatly simplified, rounded, etc...

So to answer the original question it's almost always a good idea to do MSDs unless you plan on leaving the lease early. Not sure what your sales woman was talking about.

Last edited by smajin; 07-05-2015 at 11:27 PM.. Reason: answer question
Appreciate 0
      07-06-2015, 04:17 AM   #317
OneRib
Colonel
United_States
1079
Rep
2,448
Posts

Drives: 2015 AY M3
Join Date: Mar 2013
Location: PA

iTrader: (2)

Quote:
Originally Posted by JAC23 View Post
So I'm about to sign for a lease but im not 100% sure if i should put money down or not. The msrp price at the dealership is $79K and i was able to get it down to 75K. My sales woman said the current interest rate is so low that it does not make sense to put money into MSD's (is that possible?).
I only makes no sense if you don't have the money to put down or you want more flexibility to leave the lease early. I decided not to put down MSD's because I wanted the extra flexibility in my lease. The last time I did put max MSD's down to save money. It all depends on what you think you will do with the car within the next 2+ years.
__________________
2013 E92 M3 LMB (gone but not forgotten)
2015 AY F80 M3 ED 7/9/15 Drop off 7/20/15 Redelivery 8/25/15
My AY M3 ED
Appreciate 0
      07-06-2015, 05:24 PM   #318
greytrack
Enlisted Member
greytrack's Avatar
47
Rep
42
Posts

Drives: Soon to order an F80
Join Date: Apr 2015
Location: NY

iTrader: (0)

I don't think I even have the option to do MSD's in NY.
Appreciate 0
      07-06-2015, 06:23 PM   #319
OneRib
Colonel
United_States
1079
Rep
2,448
Posts

Drives: 2015 AY M3
Join Date: Mar 2013
Location: PA

iTrader: (2)

Quote:
Originally Posted by greytrack View Post
I don't think I even have the option to do MSD's in NY.
Correct, but you could buy the car out of state and get them.
__________________
2013 E92 M3 LMB (gone but not forgotten)
2015 AY F80 M3 ED 7/9/15 Drop off 7/20/15 Redelivery 8/25/15
My AY M3 ED
Appreciate 0
      07-06-2015, 08:26 PM   #320
greytrack
Enlisted Member
greytrack's Avatar
47
Rep
42
Posts

Drives: Soon to order an F80
Join Date: Apr 2015
Location: NY

iTrader: (0)

Quote:
Originally Posted by OneRib View Post
Correct, but you could buy the car out of state and get them.
Good to know
Appreciate 1
      07-09-2015, 01:24 AM   #321
xionium
Enlisted Member
3
Rep
44
Posts

Drives: Mercedes
Join Date: May 2013
Location: worldwide

iTrader: (0)

am i getting hosed here?

car selling price $76,500 for a Euro Delivery 6 series
Money Factor .00205
Time: 36mo 10k miles
Security Deposit: 0, Cap Reduction 0
Advanced Payment: $1,159
Upfront Charges: $680
Initial Payment: $1,842
Due on Delivery: $1,842

Total monthly: $1,072
Total with tax: $1,159

Last edited by xionium; 07-09-2015 at 01:25 AM.. Reason: adding additional numbers
Appreciate 0
      07-09-2015, 08:38 AM   #322
OneRib
Colonel
United_States
1079
Rep
2,448
Posts

Drives: 2015 AY M3
Join Date: Mar 2013
Location: PA

iTrader: (2)

Quote:
Originally Posted by xionium View Post
am i getting hosed here?

car selling price $76,500 for a Euro Delivery 6 series
Money Factor .00205
Time: 36mo 10k miles
Security Deposit: 0, Cap Reduction 0
Advanced Payment: $1,159
Upfront Charges: $680
Initial Payment: $1,842
Due on Delivery: $1,842

Total monthly: $1,072
Total with tax: $1,159
I don't know the base MF for the 6 series and it may differ by body style. We would also need to know the price you negotiated off MSRP.
__________________
2013 E92 M3 LMB (gone but not forgotten)
2015 AY F80 M3 ED 7/9/15 Drop off 7/20/15 Redelivery 8/25/15
My AY M3 ED
Appreciate 0
      07-09-2015, 05:19 PM   #323
mafiesso
Enlisted Member
mafiesso's Avatar
15
Rep
42
Posts

Drives: 2015 M4 Vert SB/SO
Join Date: Feb 2011
Location: Fort Lauderdale, FL

iTrader: (0)

Great write up. I couldn't have said it better myself!
__________________
2013 E93 M3 - Silverstone II/Individual Amarone Red Extended

2011 E93 M3 - Lemans Blue Metallic/Individual Rust Brown Extended:

http://www.m3post.com/forums/showthread.php?t=508879
Appreciate 0
      07-11-2015, 08:32 PM   #324
Fast4d
Captain
261
Rep
890
Posts

Drives: 325
Join Date: Jan 2012
Location: So cal

iTrader: (0)

if I assume a lease in CA do I have to pay dmv registration fee or do I get the remainder of the year already paid by original leasee?
Appreciate 1
      07-12-2015, 01:02 AM   #325
mtbdood
New Member
2
Rep
17
Posts

Drives: 2016 MG M4
Join Date: Jun 2015
Location: Los Angeles

iTrader: (0)

Hi, I had a question about the rate lock and incentives.

I ordered my M4 in June, the day after I attended the Drive for Team USA event. ($1000 credit) I understand this incentive for my situation expires at the end of August. My car has just finished production and is on the way to the port of exit. I'm assuming it'll take an additional 6-8 weeks to get to my dealer.

My question is, do I have to take delivery of the vehicle before the end of August for me to apply this incentive, or can I lock in the incentive once I lock in the rates when the August numbers and programs come out before I take delivery?

Thanks in advance.
Appreciate 0
      07-12-2015, 04:06 AM   #326
OneRib
Colonel
United_States
1079
Rep
2,448
Posts

Drives: 2015 AY M3
Join Date: Mar 2013
Location: PA

iTrader: (2)

Quote:
Originally Posted by mtbdood View Post
Hi, I had a question about the rate lock and incentives.

I ordered my M4 in June, the day after I attended the Drive for Team USA event. ($1000 credit) I understand this incentive for my situation expires at the end of August. My car has just finished production and is on the way to the port of exit. I'm assuming it'll take an additional 6-8 weeks to get to my dealer.

My question is, do I have to take delivery of the vehicle before the end of August for me to apply this incentive, or can I lock in the incentive once I lock in the rates when the August numbers and programs come out before I take delivery?

Thanks in advance.
Good question and I'm not 100% sure. I would check with your CA now while there is no pressure on either of you. I want to say that credit applies only if you take delivery by the end of August as it's designed to get cars off the lot. I'm sure there is a way around it if that's the case, but it may require you to sign for the car before it arrives (I wouldn't recommend that).
__________________
2013 E92 M3 LMB (gone but not forgotten)
2015 AY F80 M3 ED 7/9/15 Drop off 7/20/15 Redelivery 8/25/15
My AY M3 ED
Appreciate 0
      07-12-2015, 04:08 AM   #327
OneRib
Colonel
United_States
1079
Rep
2,448
Posts

Drives: 2015 AY M3
Join Date: Mar 2013
Location: PA

iTrader: (2)

Quote:
Originally Posted by Fast4d View Post
if I assume a lease in CA do I have to pay dmv registration fee or do I get the remainder of the year already paid by original leasee?
I have no idea. Try checking in the CA regional section or call a company like swap-a-lease as they should know. If you really feel adventurous and don't value your time, you could call the CA DMV.
__________________
2013 E92 M3 LMB (gone but not forgotten)
2015 AY F80 M3 ED 7/9/15 Drop off 7/20/15 Redelivery 8/25/15
My AY M3 ED
Appreciate 0
      07-12-2015, 11:43 AM   #328
Dan Halen
Sheetrock Intl.
Dan Halen's Avatar
28
Rep
128
Posts

Drives: E92, R6 SBK, etc, etc..
Join Date: Mar 2011
Location: SF

iTrader: (2)

Hi,
could I get some feedback on this?

I'm in NorCal- which seems pretty notorious for being dismissive towards offering much in the way of deals on these Ms. That said, I think I'm also not being told the truth from a CA that came recommended.

I want to order a '16 M4, and he offered me 2k off MSRP. He also said he does not have the MF for the 2016's yet, which I do understand to be true?

But, I told him as long as he does not add any points on top of the MF that BMW offers their top tier credit score clients, we could make a deal.
He then tells me the MF that they are currently offering those clients is .00170
From what I've read that looks to be about a percentage point higher than what they truly offer?! Is the rate not .00129 currently?
Its not that I need to get $500 over invoice or I'm walking out and gonna act all pissy like they are out to screw me- but it's another thing to just lie to me without me even bargaining one time!
HE offered the $2k off due to the incentive( which means he isn't really offering it as a discount since its sitting there, yes?) and because I was referred by a large tuning shop that I have a relationship with that he get lots of recommendations from.

I don't mind flying someplace for a day drive back- I don't have to buy local. I actually bought my e92 M3 from Steve Thomas off these boards. They picked me up at the airport and I drove it home the 6 hours. Hell, I also don't mind buying out of state and getting the car shipped if I can secure a deal that will actually save me a few $K.


So, would you think its safe to say that when the 2016 MF comes out for the F82 it will be somewhere around .0030?



Thanks for any input-
Appreciate 0
      07-12-2015, 12:39 PM   #329
V3rbatim
Captain
160
Rep
544
Posts

Drives: 2016 m3
Join Date: Jun 2015
Location: NJ

iTrader: (0)

Quote:
Originally Posted by Dan Halen View Post
Hi,
could I get some feedback on this?

I'm in NorCal- which seems pretty notorious for being dismissive towards offering much in the way of deals on these Ms. That said, I think I'm also not being told the truth from a CA that came recommended.

I want to order a '16 M4, and he offered me 2k off MSRP. He also said he does not have the MF for the 2016's yet, which I do understand to be true?

But, I told him as long as he does not add any points on top of the MF that BMW offers their top tier credit score clients, we could make a deal.
He then tells me the MF that they are currently offering those clients is .00170
From what I've read that looks to be about a percentage point higher than what they truly offer?! Is the rate not .00129 currently?
Its not that I need to get $500 over invoice or I'm walking out and gonna act all pissy like they are out to screw me- but it's another thing to just lie to me without me even bargaining one time!
HE offered the $2k off due to the incentive( which means he isn't really offering it as a discount since its sitting there, yes?) and because I was referred by a large tuning shop that I have a relationship with that he get lots of recommendations from.

I don't mind flying someplace for a day drive back- I don't have to buy local. I actually bought my e92 M3 from Steve Thomas off these boards. They picked me up at the airport and I drove it home the 6 hours. Hell, I also don't mind buying out of state and getting the car shipped if I can secure a deal that will actually save me a few $K.


So, would you think its safe to say that when the 2016 MF comes out for the F82 it will be somewhere around .0030?



Thanks for any input-
July rates are not available yet for the 2016 m3/m4. 2015 mf for july is .00130. Some dealers are allowed to raise the base money factors to make extra profit but its your job not to fall into that bs. Make sure to always mention that you are only willing to pay the base MF bmw offers. Try to get $1000-1500 over invoice. That seems to be the deal people are getting. If that dealer refuses then off to the next. Make sure to find out if they even have allocation for you. Thats a biggie! Good luck!
Appreciate 0
      07-12-2015, 03:31 PM   #330
Dan Halen
Sheetrock Intl.
Dan Halen's Avatar
28
Rep
128
Posts

Drives: E92, R6 SBK, etc, etc..
Join Date: Mar 2011
Location: SF

iTrader: (2)

Thank you for confirming that- much appreciated.
And for allocation allowance and not a "promise".
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 08:19 AM.




f80post
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2020, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST