Is this 2010 M5 Lease Deal to good to be true?
12-22-2009, 01:55 AM
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Originally Posted by brabusw209amg' post='1078086' date='Dec 22 2009, 02:17 AM
12K is crazy. u total that car the second day, it's gone.
12-22-2009, 07:19 AM
#12
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My Ride: 2008 Silverstone II E60 M5 2012 E70 AW X5 50i Sport w/ LCI Aero Kit and Rocker Panels
Originally Posted by Greer' post='1074342' date='Dec 15 2009, 10:02 PM
To the New York M5 owners: have any of you guys heard of VIP Auto Group?
Thanks,
Gene
Thanks,
Gene
12-22-2009, 07:47 AM
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My Ride: 2011 M3 Convertible, Alpine White/black, 6 speed
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Leasing companies offer similar deals but I can always beat them. Remember, they are taking an excellent dealer deal, marking it up to the customer and make a birdog on the back end. The problem comes in when the customer lies about the deal either intentionally or because the leasing company has made a deceptive offer. It actually happens all the time. I had someone tell me that they were able to lease an X5 with the same money down I quoted them for $60 less a month. First of all, it would have been close to $2000 under my cost and second of all the down payment couldn't have been the same if the payment was different. I wished them luck and quickly ended the discussion. I know what the cars cost and what they should sell for close to invoice. It's easy for me to do better but the numbers must be honest if not verifiable. A lot of people screw themselves out of getting the best deal because they lie, we know it and there's nothing else we can do for them.
12-22-2009, 12:15 PM
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Originally Posted by JeffNNJ' post='1078257' date='Dec 22 2009, 11:47 AM
Leasing companies offer similar deals but I can always beat them. Remember, they are taking an excellent dealer deal, marking it up to the customer and make a birdog on the back end. The problem comes in when the customer lies about the deal either intentionally or because the leasing company has made a deceptive offer. It actually happens all the time. I had someone tell me that they were able to lease an X5 with the same money down I quoted them for $60 less a month. First of all, it would have been close to $2000 under my cost and second of all the down payment couldn't have been the same if the payment was different. I wished them luck and quickly ended the discussion. I know what the cars cost and what they should sell for close to invoice. It's easy for me to do better but the numbers must be honest if not verifiable. A lot of people screw themselves out of getting the best deal because they lie, we know it and there's nothing else we can do for them.
In many cases, the car manfucturers' finance company subsidizes the leases, especially in the area of residual value. For example, we all saw the thread where BMWFS was giving a 58% residual value on a 15K miles lease of a 528. Good luck getting a leasing company to give you a 58% residual on a 3 year 15K miles lease.
However, it still always pays to compare as there are occassions where the money factor on a lease from an entity other than the car manufacturer can be lower than that offered by the manufacturer's finance company if the manufacturer is not subsizding the lease. For example, the leases offered by Mercedes Benz typically have sky-high money factors. But BMWFS's lease money factors tend not to be as insanely high as MB's.
12-22-2009, 01:27 PM
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Originally Posted by brabusw209amg' post='1078086' date='Dec 22 2009, 03:17 AM
12K is crazy. u total that car the second day, it's gone.
12-22-2009, 01:45 PM
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Originally Posted by luigi524td' post='1078475' date='Dec 22 2009, 05:27 PM
Multiple security deposits can reduce the money factor and be totally refundable to the party leasing the car.
You will see many (but not all) dealers push cap costs reductions as a way to convince the consumer that their lease's monthly payments are "cheap" or a "great deal". They are not because they do not lower the overall cost of the lease but rather just front load the costs (and put the front loaded amount at total risk of loss to the customer in the event of a premature termination of the lease).
The only time I have ever seen a BMW discuss MSDs and proactively offer them to potential leasees is on the "Ask-A-Dealer" forum on Bimmerfest.com where a few of the dealer sponsors have touted them as part of a good lease deal. MSDs are a good deal with little downside risk IMHO.
12-23-2009, 08:23 PM
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Originally Posted by sdg1871' post='1078482' date='Dec 22 2009, 02:45 PM
MSDs are a good deal with little downside risk IMHO.
With monthly security deposits "MSD's" if the car is wrecked would you get them all back?
Thanks,
Gene
12-23-2009, 08:27 PM
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Originally Posted by Greer' post='1079210' date='Dec 24 2009, 12:23 AM
With monthly security deposits "MSD's" if the car is wrecked would you get them all back?
Thanks,
Gene
Thanks,
Gene
01-10-2010, 09:24 PM
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I prepaid my entire 3 year lease. 100% down, monthly lease payment of $0. Lease financing at the time was around 8% and by prepaying the whole lease, it cut the finance cost implicit in the lease considerably so out of pocket much less at the end of the day for 3 years of driving....and not to worry, I am insured shoud it be totaled before return date. In the past I have always done $0 down leases but when I crunched the numbers on this one I came out ahead prepaying.
Of course every situation is different, don't prepay a lease if you have higher and better uses for the money like paying off higher interest debt.
Of course every situation is different, don't prepay a lease if you have higher and better uses for the money like paying off higher interest debt.
01-11-2010, 12:34 AM
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here in europe, if you want to lease a car, your downpayment is 30% of the purchase price.
don't understand the people who say that there is too much risk in putting 12k down on the car in case you total it on day 2. So if you were to buy the car and pay everything upfront, what do you do if you total it on day 2? I think you guys are confusing a lease with an insurance...
don't understand the people who say that there is too much risk in putting 12k down on the car in case you total it on day 2. So if you were to buy the car and pay everything upfront, what do you do if you total it on day 2? I think you guys are confusing a lease with an insurance...