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BMW 6 Series, BMW M6, Car Leasing, Coupe, Convertible
#86 of 232 I need some help on a decision
Feb 20, 2007 (10:01 pm)
I know your a big hit on here..I don't really want to waste your time. Although my ? was just like everyone else. I recently took out a BMW M6 and a 650I for a test drive. I was fortunate enough for them to let me drive the M6 around the block. Although I wanted to lease the M6. So im talking to the sales person and he's giving me a list of quotes. Then i realized i think he is taking me for a fool. He tells me to put 50K down on a 2006 BMW M6 and a 36K month lease with 1300 month..the price for the M6 was about (102K) and I just went along with it and acted like it was the best deal. Then he tells me for a 650I if i put around 20K down then Id pay around 1000K month the whole price for the 650I was about (82K)..I left there making him believe i wanted those deal. I knew it was a rip off. Could you recommend what I should be paying on a 06 BMW M6 with about 10K down price of about 102k..If you could help me i would greatly appreciate it.
#87 of 232 Re: M6 lease [sodais350]
Feb 23, 2007 (3:09 am)
You're not bugging me at all, sodais350. The M6 certainly is a nice car. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the car that you are interested in for you if you let me know what these numbers are.
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#88 of 232 Re: I need some help on a decision [brandyf1]
Feb 23, 2007 (3:19 am)
You're not wasting my time at all, brandyf1. I'm always glad to help. Did you say that the salesperson who you spoke with wanted you to make a $50,000 down payment on your lease ?!?!? You were right to walk away from that deal. It's never a good idea to make a large down payment on a leased vehicle. I would be happy to give you an idea of what sort of lease payment you should expect to pay on this car, but I am going to have to make some assumptions. I am not very familiar with what the market for the M6 is like, so I don't know if dealers are providing discounts on it. For now I will assume that you are going to be given a $2,000 discount. I will also assume that you want a 36 month lease with 12,000 miles per year. According to my calculations, if you were to lease a 2007 BMW M6 Coupe with an MSRP of $102,000 and a selling price of $100,000 through BMW Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $1,567.
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#89 of 232 Re: I need some help on a decision [Car_man]
Feb 23, 2007 (10:33 am)
First of all id like to thank you for taking the time to looking into it for me. I appreciate it.Well Im going to lease an 06. I wanted to aim more towrds a 5 year lease if I could. I was planning on putting (5-10K). Ya Im sure he thought he could have got more money out of me. Like i said im young and I have money and since he knows im only 18 he thinks im going too fall for whatever he tells me. Honestly I was at first thinking of putting 50K down like he said. But then yea i came to my senses. I was going ot try to aim at 1K payments.. if i could do it.
Any suggestions of what you think I should put down on a 06 lease? for 1K payments?
#90 of 232 Hello sodais350
Feb 24, 2007 (10:38 pm)
Hey im not sure if it was you or not..did you mention you were from the Valley???
#91 of 232 Re: I need some help on a decision [brandyf1]
Mar 04, 2007 (10:58 am)
You're very welcome, brandyf1. I still think that you are better off putting as little money down as possible on your lease. You can always use the money that you would have used to make the down payment that you are considering making to supplement your monthly payment if you want.
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#92 of 232 Is this a good deal?
Mar 09, 2007 (8:13 am)
07 650 Coupe
Neg. Price 77,000
Pymt. 1,316 tax incl.
Should I pull the trigger?
#93 of 232 Re: Is this a good deal? [tonyg9]
May 03, 2007 (3:01 am)
Hi tonyg9. The car that you described has a spread of around $6,400 between its full MSRP and its dealer invoice price. The discount that you were quoted, $4,400, looks pretty good to me. The money factor is slightly high though. BMW Financial Services' current buy rate lease money factor for a 36 month lease of a 2007 BMW 650 Coupe is .00285 with the payment of a security deposit at lease signing and .00015 higher than that with the deposit waived. Try to get the dealer that you are working with to use the buy rate to calculate your car's monthly payment.
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May 12, 2007 (6:28 pm)
Hi Car Man
Looking at a 2007 650i msrp $77,750 -- what price would be a good deal if I pick up in Munich - looking at zero down 36mo lease 10K a year -- buying in Florida