Last post on Nov 17, 2013 at 4:16 PM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW 6 Series, BMW M6, Car Leasing, Coupe, Convertible
#104 of 232 650Ci lease question
Nov 19, 2007 (1:43 pm)
I'm considering a lease on either 2007/2008 650Ci. How do I determine if I'm getting a good deal?
I'm not familiar with leasing programs however, it appears BMW is offering $4500 rebates on leases of 2007 vehicles to clear them out. What should I expect the price of the car to be compared to invoice pricing? The dealer is claiming their best price is $5k over MSRP (ridiculous!) and for a 2007 model it is $1500 over MSRP.
For a 2 or 3 year lease the
2008 is 1400/mo with $10K down
2007 is 1200/mo with $5k down
Why do they add salestax to the price of the lease calculation? tax rates differ and you really dont pay sales tax if you dont buy the car...
#105 of 232 Re: 650Ci lease question [mkp6er]
Nov 20, 2007 (12:54 pm)
mkp6, where are you located?
I'd like to briefly relate the following experience:
I got a quote from a dealer who posted a lease offer for a 6-speed equipped 07 M6 online: 30 months, 10k/year, $0 down, $1372/mo.
Sounds good, right? Especially considering your rates on 08/07 650s. It gets better, though.
I went to yet another dealership with that offer in hand and a laptop. The laptop had an Excel spreadsheet on it that had formulae for calulating lease details- you plug in the numbers, and it spits out the lease payment.
Anyway, when I first showed up, before presenting any of the above, I was offered an 07 650i for $1408/mo on the terms above. They must have seen the disdain on my face as I pulled out the other offer and my laptop. I told them the 07 650i offer made no sense given the m6 offer I had in hand. I asked them to do better than the m6 offer on their own m6. I won't disclose the terms, but they DID do better- FAR better. They applied the BMW rebate to bring the price down to invoice, though, so they are still making a good amount of money... but I was satisfied with the offer.
By the way, the offer required one month's payment. Don't be afraid to try for an 07 M6- those things are not selling and are subject to the same rebates. Some dealerships are doing very well, though, so they may not be so accomodating.
BTW, the rebate is $4500 off of INVOICE, NOT MSRP. So if the dealer paid $91k for your car, they are in essence only paying $86,500 for it with that rebate. That should be your starting point in negotiations, not the 100k+ MSRP.
#106 of 232 Re: 650Ci lease question [ricardoghunter]
Nov 20, 2007 (2:46 pm)
Thanks for the reply! I'm in northern CA. I havent really ventured out to get multiple quotes as yet, but will do so this week. From my research, it does appear that the cars are a bit cheaper in the SE, and dealers are more willing to negotiate price. I've not had that experience yet, although I have had 3 salesmen from the same dealership contact me this week, each trying to sell me a new car, claiming they have new incentives to clear out the 07 inventory.
I have also heard from friends in the EC, that when you buy a new BMW, a weekend driving class is included in the price at the BMW driving school. I've not heard that in California. Were you offered the M driving course with your purchase?
Nov 21, 2007 (6:52 am)
This may be the case. I'm not sure if that includes the lease of a new M. I can always ask. My dealer is working on getting me another car- another salesperson sold my car out from underneath me.
#108 of 232 Advice sought on M6 lease
Nov 27, 2007 (8:06 pm)
Good advice so far...thanks for the previous posts. I have an offer from a dealer I would like your opinion on. 2007 M6 coupe, msrp ~109k, cap cost of 101k, residual 72% (on 2 year lease), mf .00290 and a pretax payment of $1512/month with no money down (2 years, 10k miles per year). The dealer is also willing to absorb my current lease-2006 Z4 with 14 months left at $450/month (on a 30 month lease) at no additional charge. Does this sound like a good deal to you? Anyone else feel free to comment as well. Thanks again.
#109 of 232 Re: Advice sought on M6 lease [bmwfan23]
Dec 19, 2007 (3:35 am)
You're very welcome, bmwfan23. The car that you are interested in probably has a spread of around $8,500 between its full MSRP and its dealer invoice price. The $8,000 discount that you were quoted looks good to me, especially given the fact that the dealer is absorbing the cost of getting you out of your Z4 lease early. BMW Financial Services' buy rate lease money factor for a 24 month lease of this car is .00270 for consumers who pay a security deposit at lease signing and .00285 with the waiver if the security deposit. That's pretty close to what you were quoted. Overall, I would say that this is a pretty good deal for this car.
Prices Paid: Buying & Leasing Experiences Forum
Dec 21, 2007 (3:24 pm)
i'm looking at a lease on a new 2007 650cic msrp 94,470. the price i was quoted was 2249 at signing and 1107 for 36 mos, 100,000 yr with a residual of 58,500. Is this a good deal? Thanks
#111 of 232 Re: Advice sought on M6 lease [Car_man]
Dec 21, 2007 (8:29 pm)
I'm glad you thought it was a reasonable deal, as I now have the car and love it! I look forward to spring so I can drive it every day. What a nice car!
#112 of 232 m6 lease questions
Dec 24, 2007 (3:50 pm)
2007 m6 convertible used with 757 miles
net cap cost-98,995
money factor-.00205 through us bank
1529.83/mo without tax
3 yr lease
Can i get a better deal?
#113 of 232 Re: m6 lease questions [jtrejo]
Dec 29, 2007 (7:44 pm)
I have a deal on the table for a 2007 black m6 coupe
Payments for 30 months 10k/yr come out to 1107.14+tax=$1198.48
Cap cost came out to $90419.35, MSRP was $102,875
money factor is .00265 is this good?