Leasing used 2013 M5?

[Defense]

Is it possible to lease a slightly used M5 for a lower monthly payment? I am an attorney, so while I could afford a new m5, I also have twins in private school, and a wife who would prefer to travel on a frequent basis as opposed to my driving a $1000+/mo vehicle. Is it possible to lease one of the $70-80k m5s with favorable rates? Possibly 36 months/10k miles. I'd greatly appreciate any input.

[is300wrx]

Originally Posted by Dtdm5

Is it possible to lease a slightly used M5 for a lower monthly payment? I am an attorney, so while I could afford a new m5, I also have twins in private school, and a wife who would prefer to travel on a frequent basis as opposed to my driving a $1000+/mo vehicle. Is it possible to lease one of the $70-80k m5s with favorable rates? Possibly 36 months/10k miles. I'd greatly appreciate any input.

Ever considered taking over someone else's lease? Sometimes the seller will throw in cash incentives depending on how desperate/quickly they want out. Check out swapalease or the member's classified section. Gl

[isugoo]

Originally Posted by is300wrx

Ever considered taking over someone else's lease? Sometimes the seller will throw in cash incentives depending on how desperate/quickly they want out. Check out swapalease or the member's classified section. Gl

This would be the best bet for you.
To get good monthly payment on the lease, you need manufacturer's favor in your lease rate but used cars are not in their interest. So you will get much higher rate most likely.

[Defense]

I also saw a few new 2013 m5s listed at 90k with an original Msrp of 101k. What would you consider to be a good lease deal on one of these 2013 vehicles that hasn't sold? I sure would appreciate the input.

[isugoo]

Originally Posted by Dtdm5

I also saw a few new 2013 m5s listed at 90k with an original Msrp of 101k. What would you consider to be a good lease deal on one of these 2013 vehicles that hasn't sold? I sure would appreciate the input.

I was trying to do very similar things back in 2006 with 2005 M3 Competition Package but as BMW FS offered very favorable discount (just like 2013 M5 you've found) but didn't have any favorable lease rate for previous year car. So buying was actually better deal than leasing. But that's almost 10 years ago..

If you found cars already, why don't you aggressively pursue dealer what they can do for you? I think your lawyer talk could charm the game.

For your comparison, here are deal I got for brand new M5 last week:
115.5k MSRP, 12k/36mo lease, 1094 before tax, Max out MSD

Keep us updated!

[mwlmd]

Originally Posted by Dtdm5

Is it possible to lease a slightly used M5 for a lower monthly payment? I am an attorney, so while I could afford a new m5, I also have twins in private school, and a wife who would prefer to travel on a frequent basis as opposed to my driving a $1000+/mo vehicle. Is it possible to lease one of the $70-80k m5s with favorable rates? Possibly 36 months/10k miles. I'd greatly appreciate any input.

Public school for the twins. New M5 for Dad. Done and done.

You will have plenty of opportunities to pay for their school when they go to college. No reason to start early!

[SSM5]

Originally Posted by Dtdm5

Is it possible to lease a slightly used M5 for a lower monthly payment? I am an attorney, so while I could afford a new m5, I also have twins in private school, and a wife who would prefer to travel on a frequent basis as opposed to my driving a $1000+/mo vehicle. Is it possible to lease one of the $70-80k m5s with favorable rates? Possibly 36 months/10k miles. I'd greatly appreciate any input.

Prior to the crash of 2008 it was possible to do a used car lease at a great rate, after that, lenders pulled out of that business. I had 2 US Bank Used Car Leases. One was a 2002 E39 M5 that was 3 months old and had only 2000 miles. The payment was $300 lower than a new one at that time. Now the only way to do a good lease is on a New or Demo vehicle that has Factory support. I am not sure if they are still supporting 2013 Demo's anymore, you would have to check with a dealer that has one. Payments are so low on 2014's right now, that is the way to go. BMW usually has high residuals, so payments are very low compared to Audi or Mercedes.

[Defense]

You guys are right. I spoke with a dealer regarding leasing a new 2013 listed at 90k, and he said that BMW no longer supports leasing a 2013 model. Funny about the public school, it cost $1800/month for us with no tax incentive. I rented a 2014 m5 during my wife's birthday trip to vegas in February, and I can't get the damn thing off my mind (short raced a Ferrari on the interstate, viper on S. Vegas Boulevard, and the guy from flipping vegas in a gt3 headed back from red rocks). Oh well. I'll keep searching. Until then...thanks a ton for your help!

[stealth.pilot]

Originally Posted by mwlmd

Public school for the twins. New M5 for Dad. Done and done.

You will have plenty of opportunities to pay for their school when they go to college. No reason to start early!

I'm glad my parents didn't think like that.

[mwlmd]

Originally Posted by stealth.pilot

I'm glad my parents didn't think like that.

Ha. I was being somewhat, but not entirely sarcastic.
I suppose it depends on where you live... but I stand by my opinion that private school before college is overrated, overpriced and has never been shown to improve outcome. Yes I have attended both public and private schools!

[stealth.pilot]

Originally Posted by mwlmd

Ha. I was being somewhat, but not entirely sarcastic.
I suppose it depends on where you live... but I stand by my opinion that private school before college is overrated, overpriced and has never been shown to improve outcome. Yes I have attended both public and private schools!

In England it definitely improves outcome. In the UK 7% of students go to a private school as children, but 50% of the students admitted to Oxford University attended a private school.

In America, 11% of American children attend private school, but at Harvard 35% of students went to a private school before that. Further 93% of those attending private schools go on to a 4 year college, compared with only 35% of public school students. I don't know about you, but as a 1 percenter by income, I could not with any conscience exclude my children from the kind of quality education that the most privileged 11% of children are getting.

Now are you ready to get out of the M5?

[Defense]

Wow. I didn't mean to start a public vs private school debate. My wife and I have been too both public and private and are still on the fence about the issue at such a young age. The main difference we've seen is classroom size. Our private school limits class size to 13. Public schools have over 30 in some classes. Regardless, the kids education comes first be it in the form of a 529 plan or tuition. Thanks for your opinion though.

[DrewM5]

Originally Posted by stealth.pilot

In England it definitely improves outcome. In the UK 7% of students go to a private school as children, but 50% of the students admitted to Oxford University attended a private school.

In America, 11% of American children attend private school, but at Harvard 35% of students went to a private school before that. Further 93% of those attending private schools go on to a 4 year college, compared with only 35% of public school students. I don't know about you, but as a 1 percenter by income, I could not with any conscience exclude my children from the kind of quality education that the most privileged 11% of children are getting.

Now are you ready to get out of the M5?

Those statistics - like all statistics - are a bit slanted. They look at the population as a whole which includes a lot of inner city public schools which have very few students graduating let alone going on to 4 year colleges. I think if you looked at affluent suburban communities with top tier public schools, the numbers would not be so convincing.

[Vic55]

ALG which is the benchmark for used car residuals is hyper conservative. The reduction in net cap cost on a used car will not offset the lower residual and elevated money factor. Your best bet to lease this car is a new one with the .00130 (or whatever) money factor and 58% residual (36 months at 15k currently).

On a new car BMFS uses a percentage while any used lease lenders will use ALG and its a fixed dollar. Expect a used lease MF to be in the .00300 or higher range which is plus 7% apr.

If you want to take advantage of the depreciation on a used M5, retail it with very low current used car rates. Money is cheap on used retail loans for top tier applicants.

[PhilT3]

I went to public school and didn't graduate college...

What's more important... Physical dominance or superior intelligence? What's mightier... The pen or the sword?

Is an education really the key to success in this day? Or does hard work trump a degree?

Anyone see Pain and Gain?

What about the right balance of brains and braun? What about a sword with a pen on the end of the handle?

Does anyone wonder how these conversations would go if we were all physically in the same room? It seems like it would be fun... As long as you like confrontation. A test of wits and might would be interesting.

[isugoo]

guys.. this guy was asking us about leasing an 13 m5...

[infamousq]

After this conversation I don't even what to own a M5 anymore.....but here is a website for the lease swap. http://www.swapalease.com/

[bobs619]

Attorney = baller. Lease new. The deals r there.

[Defense]

I guess the higher mf on a used lease doesn't really make sense. Thanks for all of your help. I'll keep mulling over it. Thanks again.

[soooma]

Originally Posted by mwlmd

Public school for the twins. New M5 for Dad. Done and done.

You will have plenty of opportunities to pay for their school when they go to college. No reason to start early!

Wish it were that simple dude -

[Bimmer6]

Originally Posted by isugoo

guys.. this guy was asking us about leasing an 13 m5...

No freaking kidding seriously!