So I just signed the papers for the 328xi...

Discussion in 'OT Driven' started by o2, Jun 28, 2007.

  1. o2

    o2 Witty Title Here OT Supporter

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    coupe, montego blue, nav pkg, logic7 system, dakota grey leather, auto with steptronic.

    0 down, 36 month lease, $1040 CAD/month with full maintenance. :hs: MSRP is 56k CAD.

    First car, hence the xi model. They told me I get at the end of august.
     
    Last edited: Jul 6, 2007
  2. deusexaethera

    deusexaethera OT Supporter

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    WOW. A thousand bucks a month? For a lease? That's crazy!
     
  3. sofakingraw

    sofakingraw New Member

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    That doesn't make any sense.

    4yrs x 1040 = $49,920

    Even three years works out to $37,440...the math just doesn't work here.
     
  4. Bleed

    Bleed New Member

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    if the conversion rate is correct, that is about $978.64/mo in US dollars. That is a horrible lease. I was offered a $720/mo (US) lease on a 335i with 12,000 mile limit. I walked away because even that was a horrible lease deal.
     
  5. deusexaethera

    deusexaethera OT Supporter

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    Dude, you got boned.
     
  6. project15

    project15 New Member

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    yeah, that lease seriously sucks. apparently you don't realize how much money you WONT get paid at your real job after college.
     
  7. o2

    o2 Witty Title Here OT Supporter

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    Its 36 months, 0 down. Dont forget the 14% sales tax in Canada (included in the price). Dont forget 7.7% APR. Canadian car prices are fucked also. Dont compare it with US prices, it wont match up.

    This was from the main dealership in Toronto.... and its not like I have a choice with a new car, custom order. The total value of the car after tax was 55Gs.
     
  8. deusexaethera

    deusexaethera OT Supporter

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    I dunno man, I don't think any 3-series is worth that kind of money. I spend that to fix my Passat on a very bad month. (there have been several, and God willing, I'm finally done with the big repairs.)

    But whatever, if you like the car more than you like the money, then you come out ahead.
     
  9. Bleed

    Bleed New Member

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    well i looked on the bmw ca site and base looks like its about $ 46,100

    If you paid 55g's after tax on 14% (jeez i thought i got ass raped in Cali), i'm assuming the MSRP was $48,245 (so about 2g's in options which is pretty normal for a bmw).

    Your 7.7% APR = a Money factor of .00321 which is pretty avg for a BMW. even this you could have probably shopped around for a better deal, unless your credit sucks.

    where you got hosed is the residual value. a couple of my friends have purchased the new 3 series with an average residual value of 57%. This is for 3 year, 15k/yr allowance open ended lease.

    i calculated your residual value to be around 49% to get the numbers you are showing me. which means you are paying an extra ~$4,000 on the car over the term of your lease.


    if i were you, since u haven't taken delivery on the car is to go in there fucking lit and pissed off to no end like you just walked in on your best friend fucking your wife and demand a new contract.

    i've heard people negotiating 60% residual (depends on your yearly mile allowance). heres the difference using the same terms you have on your lease:

    49% residual: $1042.21/mo
    57% residual: $934.10/mo <-- this would be a good "realistic" number (obviously anything higher you can negotiate is a better deal)
    60% residual: $893.58/mo

    im pretty sure the canadian lease process is similar if not the same as america, just the prices seem inflated due to the exchange rate.

    whoever sold you that car made a ton of money on your deal. he had to have been wearing a shit eating grin for the rest of the day after you left.


    (someone correct me if i'm wrong but i ran through a gazillion lease offers a few months ago so i'm pretty sure i'm spot on with the numbers)
     
  10. Bleed

    Bleed New Member

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    also i used yahoo's conversion for canadian to american

    a base price for the 328xi on bmw canada's site is $46,100 which is about $43,546.02 in the USA.

    A base for the 328xi on bmw usa's site is $37,000.

    Can anyone explain the huge price difference? Wouldn't it make more sense to just buy a car in America, say you temp live with family in america or something register the car in america, and just move it back to canada? i'm sure there's tariffs and logistically its not this easy, but the $6,500 price difference right off the bat is insane :dunno:
     
  11. Bleed

    Bleed New Member

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    also what are the full terms of your lease?

    Net cap cost?
    Money factor?
    Residual value?
    Mile allowance?
     
  12. o2

    o2 Witty Title Here OT Supporter

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    $2000 in options? I dont think so....

    800 metalic paint
    2400 leather
    2900 nav pkg
    1200 logik7 system
    1600 auto transmission
    450 park distance control :)mamoru:)

    msrp - $56,035 (actual was a little less, I just dont have the bill of sale with me here, so cant check)

    Residual is about 32k after 3 years. 20,000km/year.
     
  13. Bleed

    Bleed New Member

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    46,100 base
    12,800 options

    58,900 total before tax
    8,246 14%tax

    67,146 after taxes



    dude something doesnt add up here in a big way :rofl:
     
  14. o2

    o2 Witty Title Here OT Supporter

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    msrp might already include tax. The total was 54-55k on the bill of sale.
     
  15. Bleed

    Bleed New Member

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    your lease agreement should have the residual % on it. what does it say for that?
     
  16. o2

    o2 Witty Title Here OT Supporter

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    I dont have it here, but I remember it being around 32k.
     
  17. Bleed

    Bleed New Member

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    thats about 58%. i dont know. the numbers are really fucked when i try to run it like an american lease. i'm not sure if the process is different in Canada but the numbers look like they should be good? :hsd:

    this is the most confusing this ever....none of the numbers add up :rofl::rofl:


    hey i tried! :)
     
  18. o2

    o2 Witty Title Here OT Supporter

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    Yah the residual is 59%, I remember that. We get fucked big time here.

    The car is a business expense anyways, so thats why I did 0 down. Maximum monthly payments.
     
  19. Bleed

    Bleed New Member

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    nice color combo though. that blue looks sick at night
     
  20. o2

    o2 Witty Title Here OT Supporter

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    I want it now!!!! :(
     
  21. o2

    o2 Witty Title Here OT Supporter

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    Just confirmed, that msrp does not include tax... so its 56k + 14%. Peace.
     
  22. art_VW_shark

    art_VW_shark OT Supporter

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    55k for a 328...
     
  23. 04JETTA

    04JETTA OT Supporter

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    damn o well thats canada congrats on the purchase
     
  24. sofakingraw

    sofakingraw New Member

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    Still, doesn't make any fuckin' sense man. 36 months isn't an option online (not sure how you pulled that), and granded this is without any options, but this is almost half of what your paying....

    [​IMG]
     
  25. sofakingraw

    sofakingraw New Member

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    Actually no, wrong model...your right, your paying a fuckin' shit load for that car. LOL, good luck with that.
     

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