You can do a lot better by buying a lease returned 2006-07 M5 and you can eliminate all your out of pocket costs and save big $$$ off your monthly payments. If you find a CPO, that will also give you a 6/100 warranty, you'll own the car and have no worry about miles or residual.
Use some of the money you saved to buy a matching 6/100 BMW maintenance warrantly and finance one hell of a Christmas (and probably a nice summer vacation too) with your family using the remainder of what you saved over the three year lease !!!!
And oh yeah....the best part is you"ll be driving an M5 !!

 

I really appreciate your advise, but I cannot find an 08 with the equiptment I want, I don't care if the car is an 08 or an 09, its leased.

 

Actually, the residual is at 57% which is still very good and money factor is at .00175, I think that works out to 4%, on left over cars they are offering a better rate but not much for leases.

I cannot use an M5 for my everyday car, I use my car for work which includes valeting the car two or three times a day. My next E60, will be my third, these are great cars, I've looked at many cars and the 550 is my first choice.

 

seems to high to me. I agree about buying a used one. Why lease since "you drive a lot"...15k miles is not a lot after all.

 

Listen to Doc. Don't ask them to come down from list. Instead, build your car on Edmunds.com, see what invoice is and go in with a mindset to pay $XXX.XX over invoice (or below if possible.) In todays economy, I don't think you should exceed $1K over invoice, which on your car probably equates to $5K+ off the sticker. Also, have you considered the Multiple Security Deposit program? You could lower your MF to 0.00126. Running the numbers, with an offer of $1K over invoice (certainly shoot for less), your payments excluding taxes should be in the area of $930. With 7 security deposits, that could be reduced to $880.

 

I agree. I'm sure you could get dealers to line up for 5K off sticker right now. I got $4500 off sticker when I bought mine two years ago, and that was before the car market crashed. You can look on Ebay in the "completed Listings" section to get an idea of where the deals are happening. The prices seem to be coming down weekly.

 

$1K over invoice is approximately $4.5K off sticker. I personally prefer to discuss price in "off-sticker" and "monthly payment" terms. Sales people feel more comfortable with such approach, since anyone knows the sticker price and you do not look like a savvy buyer hated by sales guys.
Even in today's market it may not be possible to get V8 5-series for $500 over invoice. There is an almost equal 535 for about $200 per month less for those who want to spend less money.

 

Wow, thanks guys, lots of opinions which I appreciate; for the record, I'm not rich, money is important. However, I don't want a preowned car M5 or otherwise, I want a brand new e60, if the F10 was available I'd want that so I'll wait.
I'm almost 58 years young, in good shape and work hard, my car is my office an average of 4 hours a day, between my X5 and my 550, I drive about 35 to 40,000 miles a year and I live in South Florida which is hot as hell at least 11 months out of the year. My X5 is the first car i've ever owned that had ventilated seats and I love them, you know how your back sweats on those hot days no matter how cool you keep the car, well with these seats, your body is always comfortable. I don't know why BMW does not make this item a normal option, special ordor only which means you'll never find a car on a lot with this option. Anyway, I have to order the car, of course the 535's are a great value, they are a special car, but IMO, the 550's power at all speeds is the best car BMW makes and I've driven them all.

With auto makers cutting production, inventories will dry up sooner or later, which should push pricing and deals up rather than down.

 

HUGE MISTAKE doing business this way...for you that is. Who cares if they are "more comfortable?" The reason that's so is because they have a big smile on their face knowing they're sitting with a sucker. Sales people love nothing better than to discuss monthly payments & money off sticker, instead of negotiating your capitalized cost, which actually determines your best lease price.

Not possible to get a 550 for $500 over invoice? Mine was over $8300 off sticker on a brand new '08 550i Sport. You do the math and tell me if I got better BELOW invoice.

 

I agree completely.