M6 Gran Coupe Lease <$1k Per Month

"rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S" (rb1971)
02/23/2016 at 13:52 • Filed to: None

With 10k down. This is a good deal right? It seems like it to me, but I always worry I am somehow getting boned through my lack of math skills.

ETA: 3/30k, but I am unlikely to get anywhere near the mileage cap.

DISCUSSION (18)

Patrick Nichols > rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S
02/23/2016 at 13:54

Lease Terms? 3 yr. 36k miles?

rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S > Patrick Nichols
02/23/2016 at 13:56

3/30, sorry will update.

Tom McParland > rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S
02/23/2016 at 14:00

Seems good on the surface...I’d like to see the full lease worksheet on that. Did they send you an attachment or a PDF with the breakdown?

Nibby > rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S
02/23/2016 at 14:10

Yeah considering even with $2-3k down you’d probably be around $1500-1600 a month.

Patrick Nichols > rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S
02/23/2016 at 14:15

It’ll be interesting to see how the gran coupes depreciate differently from the coupes, but looking at historical coupe values 3 years and just under 30k miles cause ~40% depreciation.

Assuming you would pay around MSRP for a new one (~118k), after three years and under 30k it would probably be worth 71k. Making a total loss of ~47k. If you pay around a grand a month for 3 years and 10k down you’re in it for 46k, so it may be worth it to lease.

BUT! If you don’t think you’ll be anywhere near the miles, your car will be worth more after 3 years, but the dealer won’t pay you for the amount they gained on the lease not being used to it’s fullest potential.

Also think about the potential market crash and the luxury/performance car bubble that may happen in the next 3 years. Lots of people got hosed trying to sell their used german luxobarges in 2008.

Patrick Nichols > Patrick Nichols
02/23/2016 at 14:15

The last thought may help the lease argument.

yamahog > rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S
02/23/2016 at 14:19

For a 2016? Seems like a good deal, assuming that’s within your means/budget and you’re not worried about the mileage or any big changes in those three years.

ETA: just looked at your previous posts, seems like you’re in fine shape regarding budget! Lol

thatsmr > Patrick Nichols
02/23/2016 at 14:46

When leasing, get an appraisal a couple months before lease end. If your car is worth more than the payoff, you are allowed to trade out and use the equity in your favor. If you are well underwater, this tells you to walk away at lease end (Mfr. might incentivise you to get into another lease though..)

Dealership makes nothing if you don't use all your miles, the car belongs to leasing company (usually a financial arm of manufacturer) while you are driving, as well as when you turn it in. Generally a dealership lets the leasing company keep previously leased cars, as it is cheaper to buy previously leased cars at auction.

AM3R shamefully returns > rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S
02/23/2016 at 14:53

Worth it for a fully loaded car IMO. I'd go for it if given similar terms.

rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S > Tom McParland
02/23/2016 at 15:00

I’ve asked and will do an updated post. Apparently it’s $998+tax/mo, 3/30k, $10950 down, about $2k in taxes, drive-off, etc. So that’s more like $13k as an initial payment. Still I think a good deal.

Notably, they tried quoting me worse pricing until I pointed them to exactly where on their webpage this deal was showing. That strikes me as somewhat shady but maybe in the normal course of dealer practice.

Galileo Humpkins (aka MC Clap Yo Handz) > rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S
02/23/2016 at 15:26

Pretty standard for there to be a lease special advertised (even on the mfr site), but it usually has to be for the specific model/trim/options listed and that particular vehicle is usually nowhere to be found. Also pretty common for this tactic to be used for purchases too, not just leases.

Depending on the dealer, though, they can be great and work with you as much as they can or they’re the greaseball kind and just want to upsell you on everything. In my experiences with German luxury dealerships, they will work with you as much as possible.

Khalbali > rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S
02/23/2016 at 15:44

I would consider putting less down, I don't know about bmw specifically but many leases include gap coverage. Say you put 13k down and total the car six months later, you're SOL and down 13k. And you can always save/invest that money towards the higher monthly payment.

Tom McParland > rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S
02/23/2016 at 15:45

What’s the sale price on the car?

rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S > Galileo Humpkins (aka MC Clap Yo Handz)
02/23/2016 at 15:45

It’s clearly limited to one car (which is fine), but I actually sat in the same car. I still think it’s shady for them to know exactly what car I’m talking about and ask like the deal doesn’t exist EVEN AFTER I said it was on their website, until I sent them the exact page.

Now that we are over that point they seem to be working with me. It may be that the internet guy doesn’t talk to the floor sales guys, but that’s not really my issue and if true still makes them look like they are being misleading.

ETA: They only have one M6GC on the lot so whatever was going on it wasn’t just an innocent mistake.

rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S > Tom McParland
02/23/2016 at 15:47

MSRP ~128k, on sale for 110k.

Tom McParland > rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S
02/23/2016 at 16:38

Damn, I forgot they were that much. In that case, those numbers seem legit.

Galileo Humpkins (aka MC Clap Yo Handz) > rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S
02/23/2016 at 21:09

Ah yeah, that makes sense. Doesn’t make it any less shady. I’d imagine it has nothing to do with the internet and floor sales people communicating but rather the higher ups making sure to get more people in the doors. At least they’re now working with you more.

I didn’t mention it before, but I like you car choice.

Luc - The Acadian Oppo > rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S
03/02/2016 at 12:56

WOW!!! That is amazingly not a bad deal. Considering a lot of people pay $500+/month with 2-3k down for somewhat basic everyday cars that seems genuinely good.

If I was making like $400 bucks more a month than I do now I’d spring for that.