lease question

tws_andrew · 3rd June 2003, 21:17

I am very interested in an 02 0r 03 M5. A dealer close to me has a new silver/silversone that I am very interested in. What is a good deal on a 36 mo/12,000 mile lease? Also, has anyone leased a used M5? What kind of residual did they offer? I am really interested in a lease because this will be a company car and I don't want to worry about depreciation. I have a ton of other questions about mods and have learned a ton from this board. Thanks in advance

fgbaloh · 3rd June 2003, 22:03

I leased mine in 7/02 for similar reasons. ask your dealer about using multiple security deposits further buy-down the money factor. maximum is 10. you will be surprised how much this will change your payment. the savings usually represents a pretty good return on your money.
also, don't be blinded by 36 months. warranty covers to 48 months. getting most dealers to even show 48 month number is like pulling teeth but insist. while residual does drop the cost of money now will be in your favor in 36 to 48 months. i would not suggest signif mods in a leased car but if you are keeping it 48 months this might makes more sense. there was also another thread today lamenting actual resale value of the car. with lease this is not a concern. buy or walk in 3-4 years.
lastly, i considered the next car. if it will be an m5 i wanted to come out of this lease about a year into production for obvious financial and technical reasons. good luck, it is a great car.

frank

greer · 4th June 2003, 03:44

TWS,

I heard about the same car, I would go look at it but Utah is a little far for me. Good luck.

Teutonaddict · 4th June 2003, 04:02

Here's a good inside resource, albeit a little bit dated...

-Dave

4th June 2003, 19:35

Hello Andrew,,

Just as a point of reference Chase Financial seems to give a better rate/package the BMW Financial on the lease of M cars in particular. A 48 month / 12000 annual lease including tax was quoted to me at $1,129 per month. Seems to be a pretty good deal compared to other numbers I have seen thrown around on this post. This was with zero down other than the first payment as I recall.

I have seen the Titaninum/Silverstone down at the SLC dealers showroom. I think its their last one and it ollks great!

Bob Poole
2003 Imola Red

greer · 4th June 2003, 22:54

Bob,

What is the SLC dealers showroom?Where is it? Thanks.

Never mind: SLC= Salt lake City I assume?

How do I contact Chase Financial about car leases?

rennen · 5th June 2003, 02:29

If it helps I leased a 2000 in June of 2001. Car had 4000 miles on it and they wanted 70k at the time. I put about 4k down and 1100 mo for 36 mos.

greer · 5th June 2003, 02:34

What percentage of people on this board leased their M5's ?

5th June 2003, 05:20

Don't know how you contact the Chase folks other than through the BMW dealers. I think they are all plugged into Chase as well as a few others besides BMW.

The car I mentioned is at the SLC (Murry BMW) dealer. 801 262-2497. Ask for Briam Page the sales manager.

Regards,
Bob

fgbaloh · 5th June 2003, 15:08

as a guide, i was able to get $3300 under msrp on the car. I did 48 months at 12k/yr. nothing down except the refundable 10 multiple security deposits to get a monthly payment including 9% tax of $929. Obviously it helped getting below msrp but I think that is still possible especially with a car on the lot. also, i would think money factor should be lower now a year later. residual looks the same from previous post. good luck.

frank