07-02-2015, 07:18 PM | #309 | ||
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07-02-2015, 07:19 PM | #310 |
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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. |
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07-02-2015, 07:29 PM | #311 | |
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I doubt it is the case, but try to make sure you don't have any ID theft accounts running amuk. |
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07-03-2015, 02:30 AM | #312 |
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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.
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07-03-2015, 12:21 PM | #313 | |
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07-05-2015, 09:36 PM | #314 |
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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?).
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07-05-2015, 10:22 PM | #315 | |
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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.
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07-05-2015, 11:24 PM | #316 | |
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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 |
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07-06-2015, 04:17 AM | #317 | |
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07-06-2015, 06:23 PM | #319 |
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Correct, but you could buy the car out of state and get them.
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07-09-2015, 01:24 AM | #321 |
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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 |
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07-09-2015, 08:38 AM | #322 | |
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07-09-2015, 05:19 PM | #323 |
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Great write up. I couldn't have said it better myself!
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2011 E93 M3 - Lemans Blue Metallic/Individual Rust Brown Extended: http://www.m3post.com/forums/showthread.php?t=508879 |
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07-12-2015, 01:02 AM | #325 |
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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. |
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07-12-2015, 04:06 AM | #326 | |
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07-12-2015, 04:08 AM | #327 |
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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.
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07-12-2015, 11:43 AM | #328 |
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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- |
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07-12-2015, 12:39 PM | #329 | |
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