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Discussion Starter #1
Black on black.....SMG....heads-up display.......27 months and 12k per year mileage. They want $4100 down....about $840/mo not including tax.....MSRP about $85k. They want $1250 in acquisition and disposition fees. Car has 12,000 miles.

To me....this sounds great. I would be paying about $885/month.

You guys own the car already though....is this a good deal?
 

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If its a lease I wouldn't worry about the mileage that is already on it.

This sounds like a good deal but I've never done a lease. It seems like most leases are well over a grand a month.
 

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Sounds like a great deal. You dont care about the 12k miles already on it, just means its broken in. i would take it.
 

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Discussion Starter #4 (Edited)
I am going to go in Friday and test-drive it (make sure I like SMG) and take it if all goes well. I have my SL for sale now and the best part is I would save almost $400/mo in payments as right now my monthly payment is $1265 on the SL.

The same place had a white convertible that they started for $95k and kept lowering it until they sold it last week for $81k. I had called the day after they sold it....but they were advertising it when at $81k for $4100 down and $840/mo for 27 months.

They then had the black one at $89,500...same miles, options, etc. as the white one. I emailed today and asked if they would match the lease price on the white one sold last week and they initially said no. I told them they aren't many people looking at buying $90k cars in this economy....and I think the fact a white M6 (best color) sat for months should have been a sign of that. Of course, by the end of the day....I had emails from them saying they would match the price.
 

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Deal on Table

Sounds good.... I'd take it. A BMW new car store? Who's doing the money? Used can't be BMW financial, but if it is then the contract should be bulletproof.

Some details: Check the residual value at lease end, that low a payment won't reduce the cap by much particularly if the money factor is high. If you think you might keep the car, that is significant if the buyout is more than finance value. Is the lease closed so you can just hand it in with less than 36 k and walk? And can you make an early payoff for no penalty if you win the lottery? Can you add miles before lease end? How much for excess miles? BMW Finance gets 16c per mile to add--- a real bargain, penalty at turn in is 20c.

Above all, get a printout history from the VIN --- at the dealer. You want to see EVERYTHING. Car should've had the 1200, plus one maintenance cycle, and if not make em do the 1st scheduled. Tires should be new. Be really picky about engine history and any repairs. Any doubts or repaired damage or abuse, run away fast.

Good luck.....
 

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I'm paying $2100 a month.:grrrrr:
 

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You're going to love it coming from the SL! Trust me.... Go for it!

-Audio
 

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Whoa!!!....that deal sounds too good to be true...why is it so cheap?:dunno:

To give you reference, my '05 M3 that was MSRP'd around 63K...i'm paying $900/mo....so you are paying less than this?!?!?

Never heard someone paying 880/mo. for an '07 M6....jump on this if it's not a dream!
 

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Good Deal

Please tell us all the car is in your garage, right? Friday night. You said. Test drive. Signed the papers and wrote the check---right? All in..... no flinching?

Something to sober all of us is the price in the UK for an M6 coupe: upside of 84,000 pounds sterling. At 2 dollars a pound --- that's $168,000 USD. In Germany, equally off the charts plus VAT at 20%. At some point these pricing differentials are going to come home to roost. My bet is the exchange rates will stay this oblique and BMW will slow down the $50 grand US market discount by limiting production of the beasts. These are prestige halo cars, and the mfr reputation has been enhanced as designed. That will be nothing but good for us already in the game. Limited production is good for value.

So, you better be telling us the cab is yours.
For $885 a month. And, it is solid and unblemished.
 

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Something else does not make sense. If lease payments are $840, then sale price should be about $80,000 and sales tax in Chicago is about 10 percent or $8,000. This would bring the lease payments to about $1,150 per month with $4,100 down and $1200 acquision. Better ask for some more clarification from this dealer.
 

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Something else does not make sense. If lease payments are $840, then sale price should be about $80,000 and sales tax in Chicago is about 10 percent or $8,000. This would bring the lease payments to about $1,150 per month with $4,100 down and $1200 acquision. Better ask for some more clarification from this dealer.
+1 Something doesn't sound right. Make sure that this is a Closed end lease and not a Open End or Standard. That means have a guaranteed fixed residual amount. The math just doesn't add up. If you get me a Residual amount and Money Factor I can double check to see if something is fishy.
 

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Discussion Starter #14 (Edited)
Deal fell through.

I got there and of course the guy says there was a error in the calculation of the residual. He recalculated it and said it would be $875/mo or so....still no problem with me. The sale price was $81,995. I am always a skeptic of dealers, though. I didn't really go into the specifics of the "residual error" because the following made it moot.

As said, in IL they make you put in the sales tax on the whole car over the lease period (which is BS). I have a place in Wisconsin (right over the border) and you only pay the tax on the monthly payment in WIS (or $45 month in taxes compared to $300/month in Illinois). I am not paying $8k more ($300/more month) just because I live in Illinois for the BS taxes. I think that's a joke. The dealer's banks don't do leases to WIS though (even though dealer is 40 miles from the border). I went in there thinking doing a lease in Wisconsin would be no problem. In other words, the deal was dead before it really started because of this. I tried looking on Leasecompare but they had no lease deals for Wisconsin for the 2007 M6. The finance guy said something about alot of banks not wanting to lease in WIS because they are a no recovery state meaning if the car is repo'ed I don't think the bank can get the car back without alot of red tape.

He said the price would only be good for a few days because the residual was due to change Thursday. I don't want to buy because although I am doing well....the plain fact is the economy sucks and gas sucks and people aren't in the market for expensive cars. I go through cars quick and the depreciation is a joke. My SL was $100k new in late 2003.....I bought it for $63k in July 2006 and I will be lucky to get $30-32k for it now....not even 2 years later. I would rather lease and be done with it in 2-3 years instead of going through the hassle of selling the car.

On top of that, I found out when they did a credit check that someone had opened a CC in my name and charged like $100 on it in December. Of course, I never got any bill and the CC company charged it off and it nailed my credit (mind you I have paid back probably $250k in car loans and personal credit card use over the last 3 years or so....in other words, my credit was a sparkling Tier 1). I called the CC company where this account was opened and they did fix it and are taking it off my credit....however that takes 30-60 days regardless for it to come off so I am screwed anyways for that long. So, all around a bad day. A little bummed out.....but I'll find an M6 in the next 2 months I would bet.
 
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