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Discussion Starter #1
Hello - I am lurking on this board again thinking about an M5. I was thinking about getting one last year but all the SMG horror stories scared me away and I decided to get a 997TT instead. It is a great car, but I really want an F430. I have decided to sell the p-car and lease an M5 and then get the F430 next year and use the M5 as a daily driver. My question is about leasing used M5s. I would like to get a low mileage car and keep the lease payments for 36 months 10K miles per year close to, or under if possible, $1000 per month. Is that going to be possible? I would guess yes, but am not sure. If I build a car on the BMW website with a final price of 94K, the three year 10K miles per year lease is $1600 per month, so $1000 per month on the same terms on a car that will cost about 20K less seems about right, but maybe I just do not know what I am talking about!

Also, have most of the SMG problems been now taken care of? It seems so as I have not seen any posts about it now.

Is there an upcoming facelift to the car for next year or other time?

TIA
 

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Also, have most of the SMG problems been now taken care of? It seems so as I have not seen any posts about it now.

Is there an upcoming facelift to the car for next year or other time?

TIA
Yes, the 08s are running great by all account. Mine certainly is, touch wood.


08 is the facelifted model. New 5-series to arrive as 2010 car with the next M5 coming as an '11 or most likely '12.
 

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Discussion Starter #5
interesting - I may be interested in assuming someone elses lease, especially at those rates - where might I find other people on this board who may be looking to get out of a lease? I checked swapalease and leasetrader and found a few also
 

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08 here no problems so far...
 

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interesting - I may be interested in assuming someone elses lease, especially at those rates - where might I find other people on this board who may be looking to get out of a lease? I checked swapalease and leasetrader and found a few also

although those two are the best places for this , also check out the for sale sec of this forum !!

you may even wanna put a want to assume lease thread to incurr some interest !!

neil
 

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Discussion Starter #8
where is the for sale portion? I can not seem to find it - I am sure it is probably right in front of the me I can not find it
 

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I leased 06 M5

I just leased 2006 M5. it had 10000 miles, very clean not all the options though. no extended leather, no I pod interface, no automatic shades, no enhanced sound but otherwise great car. The car is 09/2005 production and had all the recalls done. dealer showed me car history and had no mechanical or SMG problems at all. it will be under warranty until the day i return it and I think you should do the same if you are worried about transmission problems. as far as the lease itself, the residual is controlled by BMW but the cap and the lease/money factor is under the dealer's control and it made the biggest difference. Mine was listed at 63995 and I leased it for just under 1k with 5 K down.
 

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That sounds like a great deal on a used M5, if you do not mind not having all of the options. Still, i think that the price is right! Congratulations.
 

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yes, i was happy with the deal, I leased it for two years only and had the lowest milage allowed 10k/year. they don't offer good deales on leasing used bmw specially M models but if you can get the lease/money factor under .004 it will make the most difference.
 

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Discussion Starter #12
jasdad - don't you have to pay the interest all up front on leases in Illinois? (Chicago is where I have bought many cars and remember hearing this)

I have a lease quote for a 2007 car for about 1300 per month for 10K miles per year for three years on a hypothetical car costing 75K, but in Michigan we pay the tax on a monthly basis - so compared to your price, my quote seems at least reasonable, especially if your tax was all paid up front
 

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jasdad - don't you have to pay the interest all up front on leases in Illinois? (Chicago is where I have bought many cars and remember hearing this)

I have a lease quote for a 2007 car for about 1300 per month for 10K miles per year for three years on a hypothetical car costing 75K, but in Michigan we pay the tax on a monthly basis - so compared to your price, my quote seems at least reasonable, especially if your tax was all paid up front
this sounds like a great deal considering it is an 07 and no money down. and you are right about the tax in IL they calculated tax on the entire price of the car not the lease amount.
 

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Discussion Starter #16
oh, that was what it was - I thought that it was that you had to pay all the tax upfront in one lump sum
where did you buy your car at? did you have a good experience?
 

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oh yeah, I forgot to mention, that was with nothing down also
when you say no $ down,....what about acquisition, disposition, and doc. fees...what did that amount to (out the door)
 

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Discussion Starter #18 (Edited)
acquisition fee was 795 - no doc fees and about $500 to title an out of state car (much cheaper if I am able to find the car I want in state) and no disposition fees
paying for those things up front does not bother me as long as they are not exorbitant - what makes no sense is putting money down - it is like prepaying lease payments - it makes more sense to just have a higher monthly payment and do something else useful with the money like invest it - put it to work for you, not them - the only exception being when BMW runs specials and will give you a reduction in the money factor if you put X amount of dollars down - then it is to your financial interest
 

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oh, that was what it was - I thought that it was that you had to pay all the tax upfront in one lump sum
where did you buy your car at? did you have a good experience?
hey dolt, I got my car from bill jacobs in Naperville, IL one hour west of chicago. the sales tax here is 6.75 and 11.00% in chicago I think. sales tax is incorporated into the monthly paymenst. Your taxes will be less if you put money down since that is taken from your cap price.
where are you in Michigan? I lived in Ann Arbor for about 10 years (college and post grad). get snow tires right away if you get the M5, you can't drive it in MI in the winter with performance tires. I learned that the hard way.
good luck
 

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Discussion Starter #20
hello - I live in St Joseph which is on lake michigan about thirty miles in from the Indiana state border. Yeah, I learned the tires thing the scary way also. I used to have a 530 and the first time driving it in the snow I almost died more than once. I also now have an X5 and I thought that it would be fine in the snow, but it had those big 19 inch wheels with wide flat performance tires and it was just as worthless as the 530 in the snow - then I got Pirelli scorpion ice and snow tires and it made a gigantic difference. It is like a tank now in the snow.

I just also heard something odd from a dealer. He said that BMW is no longer making SMG M5's? Is this true or does he just not know what he is talking about? I have been out of the loop on this car for a year so I guess that could have happened.
 
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