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BMW 3-Series (E90 E92) Forum
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Canadian pricing
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08-28-2005, 11:39 AM | #1 |
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Canadian pricing
Hi
New to forum. I am looking at leasing a 330 and would llike to get an idea of what people are paying in Canada. If you use the build /configure option in the BMW canada web page the pricing I am getting is $ 829 per month(36 m lease, 20 000km per year) - 330- metallic paint,wood trim, sport and premium packages. List is $55 300-00 . Has any one who has leased got a better deal than this and how negotiable are dealers on their monthly lease rate. I would like to stay below $800-00 per month for tax purposes. |
08-29-2005, 01:47 PM | #3 |
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Myself and my parents both got in the range of 3.5%-4% off MRSP on 325s that are middle to well equipped. Shop around as many dealerships as you can, there are discounts out there to be had.
-Tim |
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08-29-2005, 04:09 PM | #4 |
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staying below 800/month is not possible for the 330i, unless you plan on putting down a huge down payment. i got 4% off in the GTA, but that's because my wife and i have a work with BMW canada at our respective jobs.
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08-29-2005, 07:23 PM | #6 |
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$500 off list was common back in July. It was somewhat of an "unwritten" policy of BMW Canada. So, that should aid in the "capital" cost portion of the lease equation.
One way to a lower monthly is to look at the 325. |
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08-29-2005, 08:44 PM | #8 |
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Hello, and welcome to the community
Don't look at how much it's going to cost you on a monthly basis... rather, how much can you get the car for, all told. Then, break it down into monthlies; if you can't make it fit your requirements, take off some of the packages or get a 325. $800/mo + taxes, that's going to need a huge down payment, and a fair sized discount off the total price of the car. Search the forum for dealer invoice prices in Canada (they have gone up slightly, >1.5%) and take them in with you when you make an offer on a car. Aim for 3.5-4.5% off MSRP and you'll be getting close. Also, be prepared to put $4500-5000 down. And, remember, that's taxable, so Mr. Martin's going to get even more of your money... it sucks, but the car will do a great job helping you forget that part. You can do $800/mo. You're just going to have to work for it. Let us know how you do. Good luck! |
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08-29-2005, 08:57 PM | #9 |
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The Canadian limits regarding lease deductibility are all pre-tax, so that $800 is not including PST/GST. You should be able to get a 330i with a few options for under 800/month with $0 down.
In Canada, there are three (3) seperate restrictions regarding maximum thresholds on the tax deductability of car leases: 1) Total lease cost limit (including interest, NOT including PST/GST) = $30,000 2) Monthly lease payment limit (including interest, NOT including PST/GST) = $800.00 3) *** This is the one that will get you *** Manufacturers LIST price limit = $35,294 + PST/GST If your lease exceeds any of these limits, you can still deduct some of the least cost, however it is pro-rated based on these limits. For example, lets say you get a base model 330i with no options, MSRP of $47,500 with 36 month BMW lease ($0 down) = $712/month (plus tax). Your total lease cost is $712 x 36 = $25,632.00 + tax - less than the limit, so no problem here. Your monthly lease payment is $712 + tax, again below the $800 + tax limit, so also no problem Unfortunately, the MSRP of $47,500 is way above the limit of $35,294 by a ratio of 35294/47500, or 0.743.... So, the you would only be able to deduct 0.743 of your monthly lease payment of $712 ($529.02 / month), and that is assuming that 100% of the car's use is for business purposes. For an excellent, easy to understand, 51 page overview of the Canadian 2005 tax regulations on car expenses and benefits, refer to: http://www.pwc.com/extweb/pwcpublica...its%202005.pdf Last edited by timlang; 08-29-2005 at 09:19 PM.. |
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08-30-2005, 11:30 AM | #13 |
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Just a word of caution - I am not an accountant or tax expert by any stretch, I just did some research on it. I would definately recommend consulting an accountant or tax professional before doing your return or making any decisions based on my information.
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