In Reply to: Help with leasing. posted by want M3 on April 19, 1999 at 09:45:58:
: I am thinking (hoping!) to get a M3 soon.. However, I want to lease the vehicle since I never stay with a car longer than 3 years. I was hoping that someone else on the board has had experience with leasing and M3 before and around how much they are dishing out for their M3.
Just did this.
Be sure to talk them down on price first - don't worry about the monthly payment (as compared to the final price).
Watch their money factor, I had a dealer "last minute" show me the latest money factor sheet which lowered my payment.
Also - BMW has a great deal with multiple security deposits. Its sorta weird but my accountant said it was well worth it. You put down up to 10 additional security deposits - thats like $5500 instead of $550 (or $600). This lowers the money factor by .001 for each deposit. Effectively this took my APR from 6.8% to 4.9% (or close to that).
It lowered my payments by $64 per month! A total of $2300 savings on $5500.
Original Quote from the dealer (no negotiation, no
multiple deposits) was $615. I dropped that by $100 bux (negot and deposits).
The car I finally got had more options then I wanted but the dealer added them on at invoice price.
hope this helps.