Is this a good lease deal- M3 convertible
Just came back from my Central Florida BMW dealer, looking to lease a 2013 M3 convertible. Options are:
- Premium package
- DCT transmission
- 19" wheels
- Satellite radio
- Cash Sale price: $74,500
- Starting money factor: .00195
- Money factory after applying 7 MSDs: .00146
- Total of MSDs is $7,700
- Residual: $45,647/60%
- No cap cost reduction
- $1755 due at signing which includes acquisition fee, etc.
- Monthly payment: $988+ tax so $1,057 including tax.
Is that any good? Any wiggle room on any of the terms you thiink?
Seems high to me. How much were you able to talk them down on the selling price? How much over invoice?
Also, the MF looks very high. In August, the base rate on the vert was .00145. I am not sure if that has changed for September. The dealer is allowed a mark-up on the MF so this is negotiable as well. It is a PIA to get them to move on it but I have sucessfully negotiated it in the past. If they are telling you .00195 you definitly have some room there.
I'm not yet into the negotiation phase yet, basically I went down there, test drove the car, and he ran a numbers sheet for me. As I view the invoice price on edmunds.com with my options, they are charging $2300 over invoice. Yes money factor does seem very high, especially considering I'm seeing posts from late last year where people were getting as low as .00095 MF. So I'm thinking about countering them with $1200 over invoice, and a .001 MF. I've also been in touch with another dealer in the area, I'm going to try to pit both dealers against each other, basically say to one dealer "but this dealer said they'd do this", and see how it comes out. Is $1200 over invoice and .001 MF reasonable though? Seems like it should be.
I would start at $500 over invoice and go from there, but I think $1000 over would be reasonable. If the base MF is .00145 they will not go lower than that, unless you mean .001 including max MSDs. GL!
Leased a 2013 M3 Coupe fully loaded with every option available with also BMW performance cf spoiler and black grills at $2500 over invoice ($72,700.00). 3 years, 15,000 miles per year, $2,500 due at signing, $0.00 cap cost, MF was .00175 with 57% residual $950.00 per month plus tax.
If you were to lease the e93 last year, the deals were incredibly attractive. GL
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