05-06-2014, 06:04 PM | #1 |
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Leasing used 2013 M5?
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.
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05-06-2014, 07:43 PM | #2 | |
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05-07-2014, 09:18 AM | #3 | |
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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.
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05-07-2014, 10:30 AM | #4 |
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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.
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05-07-2014, 10:59 AM | #5 | |
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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!
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05-07-2014, 11:44 AM | #6 | |
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You will have plenty of opportunities to pay for their school when they go to college. No reason to start early!
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05-07-2014, 12:40 PM | #7 | |
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05-07-2014, 06:04 PM | #8 |
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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!
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05-07-2014, 09:13 PM | #9 |
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I'm glad my parents didn't think like that.
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05-08-2014, 11:32 AM | #10 |
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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!
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05-08-2014, 06:29 PM | #11 | |
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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?
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05-08-2014, 06:39 PM | #12 |
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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.
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05-09-2014, 09:16 AM | #13 | |
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05-09-2014, 02:03 PM | #14 |
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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.
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05-09-2014, 08:20 PM | #15 |
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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.
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05-09-2014, 08:26 PM | #16 |
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guys.. this guy was asking us about leasing an 13 m5...
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05-09-2014, 08:40 PM | #17 |
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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/
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05-13-2014, 01:32 PM | #19 |
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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.
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05-13-2014, 08:33 PM | #20 |
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