03-06-2014, 09:08 AM | #45 |
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Drives: '14 M5 CP & '62 corvette
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2014 ///M5 Singapore Grey Metallic, Black Extended Merino, Anthracite Wood Trim, Comp Pkg, Driver Assistance Plus, Exec Pkg, Lighting Pkg, B&O, 343M Wheels (11.597 @ 122.44MPH)
Mods: Gloss Black Wheels, 35% 3M Tint, IND Gloss Black (LCI Grilles, Side Markers, Rear Emblem) IND M5 Floor Mats, RKP (McRae Splitters & Rear Diffuser), Passport 9500ci, Suntek PPF-C, M Door Projectors 1962 Corvette Convertible Red/Black (Gone:'11 750Li, '09 Z06, '08 550i) |
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03-06-2014, 09:50 AM | #46 | |
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03-06-2014, 09:56 AM | #47 | ||
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2020 Mercedes-Benz GLE 450 Ordered: EQS580, BMW IX, Lucid Air Touring, Corvette Stingray |
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03-06-2014, 10:30 AM | #48 |
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Drives: '24 iX50; '23 i4 M50
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Multiple Security Deposits...reduces the .00130 MF to .00081
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'24-I20 iX 50; '23-G26 i4 M50; '22-G82 M4Cx*;20-G05 M50i*; '20-F82 M4CS*; '18-F80 M3CS*; '18-F80 M3CS*; '18-F85 X5M*; '18-G01 X3M40i*; '18-F80 M3ZCP*; '17-F80 M3ZCP*; '15-F15 X5*; '15-F82 M4*; '12-E92 335is*; '11-E70 X5d; '11-E89 Z435is*;'09-E89 Z435i*; '08-E92 335i*; '06-E90 330i*; '05-E83 X3*; '04-E83 X3*; '03-E46 325Ci* *retired |
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03-07-2014, 10:33 PM | #50 |
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I also just joined the club. Currently have an E90 M3 and a bit depressed that I have to give it up. I could not justify the $1100 on the new M3, so I ordered an M5 today.
Sakhir with Black Interior, Exec, 20s and DAP. $1079 with the 9% PA tax. Zero down. Just could not pass this up. I always felt that the M3 was the perfect size for me, but looking forward to something different. The M5 is certainly a more luxurious ride...just hoping it's going to be sporty enough. OK...I'll stop whining now. -Mark |
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03-07-2014, 11:04 PM | #51 | |
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03-08-2014, 02:56 PM | #52 |
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Well guys, I think i'm ready to make the switch as well (guess i'll have to change my name ). I submitted a quote for the following build and this is what I got back:
2014 M5: SG on Black Extended; 20" wheels MSRP: 96,425 Discount Price: 87,940 Tax: 8% MF: .00081 Residual: 60% Drive off: $2759 + full MSD's Term: 36mos/12k Price: $1025/month Now while that seems like a pretty good deal to me, i'm seeing others in here getting better deals. At that MSRP, I feel like i should be closer to $900 or so a month. What do you guys think? |
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03-08-2014, 04:48 PM | #53 | |
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03-08-2014, 11:08 PM | #56 | |
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03-08-2014, 11:13 PM | #57 | |
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I am with you on this, I'm glad I didn't build my new M3 just yet. Have an e93 vert and am going to pull ahead and take advantage of M5 deal for same price as M3. This is kind of surreal for me |
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03-09-2014, 12:29 AM | #58 | |
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03-09-2014, 07:29 AM | #59 | |
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03-09-2014, 05:23 PM | #60 | |
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No you are absolutely not trapped in the car. There is a set amortization schedule just like a purchase and you can buy it out at any time. There is no difference between this and taking a loan on the car or even buying it outright. There is still an interest rate as well, but they hide it as the "money factor". To find the true interest rate just multiply it by 2400. The value of the car is the value of the car period. If it is higher than the buyout then you can pocket the difference. If you are underwater you have to pay out of pocket for the difference. The minute you drive any car off the lot you are underwater from a cost perspective the difference is if you pay it upfront with a purchase. People paying $10K claiming they are not underwater are not looking at the true TCO. If they total the car day 1 they are out that $10K. On a lease the insurance company picks up the "gap". The biggest difference is the amount you pay out of pocket day 1 for a lease vs. a purchase and the amount of sales tax that you pay overall. In California for example you only pay sales tax with each payment instead of on the value of the entire lease or purchase price. This is my main reason for leasing since I tend to turn and burn my cars. If I decide to sell my car after 1 year I will have saved $7K in sales tax vs a purchase. Even at full maturity of the lease I will have saved $5K in sales tax with a 61% residual. |
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03-09-2014, 05:43 PM | #61 |
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That's potentially even more misinformation. True, when you lease, you only pay sales tax on difference between the purchase price and the residual value. When you buy a car, you pay sales tax on the full purchase price of the car, but then you get a credit for the trade in value when you trade the car in for a new one. So if you buy a 100K car, drive it for three years and trade it in against another car, you only pay sales tax on the difference between the trade in value and the new car cost. So, if the new car costs you $110K and you get $70K for the trade in, the sales tax is limited to the $40K. When you trade in the $120K car, the same applies. Effectively, you are only paying sales tax on the portion of the car you "used". The only difference is when you buy, you are pre-funding the tax for the remainder.
Now this may vary state to state, so you should check your own state tax laws. Bottom line is that leasing is simply an alternative way of financing your car, As a general rule, leasing gets you more for less now but is more expensive over the long run. Of course, that is just a general rule and can (and will) be affected by the lease terms: mostly the money factor and the residual value. There can also be a tax benefit to leasing if you are able to treat the car as business expense. You need to run the numbers on the lease vs purchase for each instance to see what is the better economics. I would not lease the M5 for two reasons: (i) I like to mod my car - at least lightly - and don't want to have the hassle of putting everything back to stock in three years and (ii) I do not believe in debt to own a car this expensive. I would only borrow to buy a car if I had no other means and, in that case, I would buy a more affordable car.
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2014 M5 Competition|Space Grey|Black Merino Full Leather|Anthracite Trim|Executive package|LED Lighting Package|Drivers's Assit Package|B&O Sound System|Bel STiR Plus 9500ci|IND Side Markers and Side Vents|Exhaustmeister|HRE P101 Satin Charcoal/Michelin PSS (Summer)|601/Pirelli Sottozero Serie II (Winter)|Coded by V12
Last edited by DrewM5; 03-09-2014 at 05:49 PM.. |
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03-10-2014, 06:49 PM | #62 | |
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I am doing a 3yr, 10k lease, $2700 out of pocket (seems $500 too high, but who's complaining), no MSDs. Should be delivered in June, but I did not get the production number yet... Also, I said 1079/mo in my prior post, but that was wrong....it's actually 1099/mo. -Mark |
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03-11-2014, 09:24 PM | #63 | |
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03-11-2014, 11:57 PM | #64 | |
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03-18-2014, 08:30 AM | #65 | ||
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03-18-2014, 09:48 AM | #66 | |
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