:wtf: lease

Discussion in 'OT Driven' started by Jazz, Apr 4, 2004.

  1. Jazz

    Jazz Powerhouse of the Scrum

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    First, I'm not necessarily in the market...depends on what my job situation looks this fall, but it was a boring afternoon so I took a trip to the automall:

    BMW 330Ci Coupe M Performance Edition:
    Price: $57,250
    Type: 24,000 KM/year
    Downpayment: $0
    Trade-in: $15,000
    Term (months): 36
    Rate: 3.30%
    Residual Value: $32,633
    Monthly Payment: $370

    BMW M3 Coupe:
    Price: $73,950
    Type: 24,000 KM/year
    Downpayment: $0
    Trade-in: $15,000
    Term (months): 36
    Rate: 7.45%
    Residual Value: $39,134
    Monthly Payment: $853

    Remember all Canadian prices. Check out the price drop on the M3 and they want to charge me more than twice the interest rate :wtf:
     
  2. Captain Amazing

    Captain Amazing OT Supporter

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    What is in the M performance package?
     
  3. Tony Stark

    Tony Stark John McCain has an illegitimate mexican baby

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    its the hgiher performance 330CI has a lil bit more hp
     
  4. Tony Stark

    Tony Stark John McCain has an illegitimate mexican baby

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    * 235-horsepower engine
    * More aggressively tuned sport suspension
    * 8-way power front sport seats with 2-way manual headrests and thigh support; 3-driver memory for exterior mirror and seat positions; automatic tilt-down of passenger’s side-view mirror when vehicle is shifted into reverse gear
    * Anthracite interior headliner
    * Alcantara/cloth upholstery
    * Aluminum "black cube" interior trim
    * M 3-spoke Alcantara-wrapped multi-function sport steering wheel with fingertip cruise, audio and accessory phone* controls
    * M Double Spoke (Styling 135M) alloy wheels, 18 x 8.0 front, 18 x 8.5 rear; 225/40R-18 front, 225/35R-18 rear performance tires**
    * High-Gloss shadowline exterior trim
    * Matte stainless steel, 35mm dual exhaust pipes
    * White turn-signal indicators
    * Aerodynamic package
    * Tachometer with 300 rpm-higher redline and red needles
    * Short, sport gearshift lever
     
  5. Tony Stark

    Tony Stark John McCain has an illegitimate mexican baby

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    i priced them out on the US website
    04 330CI coupe
    Black Metallic paint $475
    Black Leather $1450
    Performnace Package $3900
    HID $800
    $531 with $2500 downpayment for 36 months


    M3 Coupe
    Color PAint $475
    HID $700
    $779 a month for 36 motnhs with a 2500 dp
     
  6. Penguin Man

    Penguin Man Protect Your Digital Liberties

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    65k US ~= 87k Canadian.
     
  7. Jazz

    Jazz Powerhouse of the Scrum

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    Uote

    what he said :o

    more info: http://forums.offtopic.com/showthread.php?t=1007199&highlight=330

    the final numbers make sense to me given teh interest rates and residuals...it's the latter two that confuse me

    $73,950 canadian is only like $56k US
     
    Last edited: Apr 4, 2004
  8. Wolf

    Wolf No one plans to take the path that brings you lowe

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    S4 has more power, AWD, and is less than the M3.
     
  9. Ridley

    Ridley New Member

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    :ugh: Trade in of $15k, pay monthly payments, have nothing at end of lease looks like the lose.
     
  10. Jazz

    Jazz Powerhouse of the Scrum

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    If I was to buy it outright:

    $57,250 - $15,000 = $42,250
    3 year $42,250 loan @ 3.30% = $1234.27 a month
    Total payment = $15,000 trade-in + $42,250 principle + $2183.91 interest = $59,433.91


    Lease:
    $15,000 trade in + 36($370) = $28,320

    Now if I wanted to buy that car at $32,633 I'd need to have saved over the past 36 months. Saying I went with just an ING account at 2.5% I'd need to set aside $873.85 a month for the 36 month term.

    $28,320 + 36($873.85) = $59,778.60

    So setting aside the money I'd be spending $370 + $873.85=$1243.85...only $7 more a month. That $7 buys me the flexibility to pay only $370 a month when things are tight and pay more monthly early on if I can afford it making things cheaper. And this is all assuming I put my money in a low interest savings account...even taking a risk adverse approach I could go out and get bonds making the lease even cheaper.

    Doesn't seem to :ugh: to me.
     
  11. T-T

    T-T Born Into Retirement

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    The 330Ci Mpackage is overpriced, and the M3 is just not fucking worth that money. I can't stand BMW for their outrageous (sp?) leases - it's a shame.
     
  12. FryingPan

    FryingPan Certified Thread Killer

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    Trading a car in on a lease = financial suicide.
     
  13. afzan

    afzan Guest

    don't lease it.. :/

    why not just buy a used one instead?
     
  14. Jazz

    Jazz Powerhouse of the Scrum

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    why are so many people against leases? :sad2:
     
  15. T-T

    T-T Born Into Retirement

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    Because for 30 grand you're left with nothing but bills in a mere 3 years.
     

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