04-15-2016, 08:47 PM | #1 |
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Need advice on 2 deals
Let me start of by sharing that I've learned a ton on here from all of you along the way. I'm new to the whole leasing process since I've always bought my cars, but decided to jump over. Here are my 2 situations:
2015, msrp of $108k, cap of $92.5k, 1k fee, 1 month due at signing. I'm in NY so the taxes get rolled in. 57% residual and .00135 which brings the monthly lease payment to $1,170. 2016 msrp of $111.5, cap of $103k, 1500 in fees, 1 month due at signing with taxes rolled in. 64% residual, .00175 which brings monthly cost to $1,310. Both dealers don't have dmv, titles etc rolled in or broken out yet because they are out of state dealers. Shipping may add another $1k. On the face of it, neither deal looks really compelling to me but I wanted to get some thoughts from the group on where I should be pushing back, etc. Also, is the Mf that you get based on your credit score? One dealer told me that he always prices out at .00175 and once the application is in if you are over 740, you can get the .00135. Is this true? |
04-15-2016, 09:33 PM | #2 |
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Both deals are very poor based on the information provided.
Top tier credit of 675 or above will get you .00135 MF. Shop around and see what's out there. I would recommend contacting Greg Poland at Pacific BMW.
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04-15-2016, 11:22 PM | #4 |
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Thanks guys - this is exactly what I was looking for. I'll certainly be at the .00135, so I'll factor that in.
I will reach out to Greg next week and see what he can do. I have another lease built out and now when I see this vs. the others, this one is much better, but not sure if I can do better: msrp: 109,100 cap: 101,100 monthly: $1,130 assumes 12k miles at 63% and .00135 About $6,000 upfront which includes taxes, 1st month and $1500 in fees. How much room do these dealers have? Can i get something like this down to $1,000 per month? Thoughts? |
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04-16-2016, 08:24 AM | #8 |
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Dude, greg was offering me great deal on their MCB. Has exec and drivers assist, also black wheels. I wouldve got it, but i wanted to do a PC delivery. Tell Greg trevor sent you.
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04-16-2016, 08:56 AM | #10 |
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I got a special order car from Greg at Pacific. I had exec, and black wheels, also paint for 5k. I cant remember exact figs as im at work. But my payment is 1130 a month with 6%sales tax. 3k down to cover all costs.
I credit momos for helping me out a ton. His car is also available as hes looking to get rid of it. PM him if anyone it interested |
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04-16-2016, 09:52 AM | #11 | |
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The "trick" here is to not limit yourself to your local dealers but expand the search zone a bit. If you cast a wide net, you'll find someone willing to move these cars. Also, be careful with dealers offering an attractive price but then playing financing games, such as jacking up the MF. |
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04-16-2016, 09:56 AM | #12 | |
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04-16-2016, 11:51 AM | #13 |
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sounds like the residual on the '15s is going to be tough to overcome. I'd go with a '16 from one of the dealers that are well known on this forum.
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04-16-2016, 12:09 PM | #14 |
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Yea the MF was the .00175 as the base case but would drop with the credit pull.
I agree - leaning towards the 2016 model now since there isn't much movement in the 2015s. I've reached out to one of the recommended dealers and didn't get a great deal and more in line with the 1300-1350 range. I've got an email into another two and waiting to hear back. |
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04-16-2016, 12:32 PM | #15 | |
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MY15 M5 in Singapore Grey Metallic. 3yr/10k. 26 payments left. Current mileage right at 3200 or so. Payment is $1280, excluding tax. MSRP was $136k. Here is the window sticker:
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04-16-2016, 12:45 PM | #16 | |
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By the way, anyone have an informed opinion on whether MF and/or residual will get better in the coming months? I can see it going either way with production stopping in around October. |
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04-16-2016, 12:47 PM | #17 | |
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04-16-2016, 12:50 PM | #18 | ||
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I'm pretty sure current model year production ends in July or August for the M5.
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04-16-2016, 12:53 PM | #19 | ||
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I don't really drive it much as I have a 750 for daily driving. Looking into some exotic options as a replacement.
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04-16-2016, 12:55 PM | #20 | |
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I wish I was on the west coast - there's a TON of inventory there; east coast is ok but nowhere near the west. There ought to be deals to be had on the west coast right now. |
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04-16-2016, 01:00 PM | #21 |
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I tried to price it out based on the info you gave, and came at 123k - but possible I made a mistake. 120k cap at 136k MSRP sounds like a great discount but that's M6GC territory .
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04-16-2016, 04:17 PM | #22 | |
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Wow, nice setup! Probably out of my range given where I wanted to be on the 2016s. |
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