Long story short I placed an order on an M3 back in July, thinking it was going to arrive next summer (dealer said 1 year wait time). Long and behold they just called me to say that I should be receiving it next month (ended up being less than 4 months wait!). I am very confused on how to proceed as I did not expect it to arrive this soon, so looking for your advice if the numbers they’re giving me make any sense. Anything you can share is appreciated!
Here’s what I got (NJ Deal):
MSRP: 90,945
Residual: 57%
Residual: $51,838
MF: .00267 (or 6.4% APR)
Taxes, Fees & First month: $6,500
Down Payment: $5,000
Monthly Payment: $1,554
Term: 36/10k
Any thoughts if the above seem reasonable? I’ve been lurking in here and SAL and these numbers seem to make sense given the market.
Really stuck between leasing or perhaps just doing the Select Finance Program.
Does the 6500 include the 5K down payment? If not, that’s 11,500 down and 1554/mo which means you will be spending 66k to lease this for 3 years. That is horrendous, you should purchase the car instead
I leased my 22 M3. Similar crappy deal at least up front however I got $14,500 in equity having the dealer buy it from me a year early which basically cut my effective payment by $600 a month. Of course your mileage may vary as availability is a lot better these days.
That is actually the only reason why I am considering leasing it at all. I don’t understand why the residual is so low when the car holds its value pretty well in the second market (as seen in the equity you built).
May I ask why did you let go of your M3 a year earlier?
Dealer said I need to change rear differentiator about $5k cost. Lease up in december should I fix first or just trade in hope they do not know it needs repair?
I let it go because the market is softening quickly and I wanted to grab that equity. Reason I say that is some small dealers near me got 3 allocations in September when they got 1 in 2022 and 2-3 in 2023. I put my name on list for the LCI 25 because another dealer told me the list was a year long and I got a call 2 months later. Loved the car but I couldn’t leave that on the table plus wife has an X3M which is close enough. Ended up in a 24 X5M which also has crappy deals but the heart wants what the heart wants. lol
Why would a low RV be a positive for leasing an M3? If anything the ideal M3 leases of the past had a hugely overestimated RV, you had low payments and then you toss the keys back at the end. You’ve got the opposite situation here.
Yeah I mean that’s an offer you cannot refuse lol effectively ending up paying $600 a month. I was curious maybe you didn’t like the car to much.
That is what my gut feeling is telling me too – the dealer I ordered it from told me that I was “lucky” as in September BMW just decided to ramp up their M3/M4 productions, hence why I’m receiving it in less than 4 months, and that the wait time is back to 1 year if I had to start from scratch again.
I hear you on the what the heart wants, as that is exactly my problem right now. Heart says pay this stupid money but the brain says do not do it haha
I think it’s likely we’ll see M3’s in decent equity position. I got a friend of mine out of his half way thru his lease, good luck doing that with a regular 3 series.
Yeah my original deal would have gotten an F on the lease calculator but after the buy out maybe a c+ but it’s all about the driving enjoyment for me. Most think my car payments are crazy but they would really freak out if they knew how much money I spend on vacations every year. Life is short.
Life is short.