[The OL OG]

I am writing to ask for help to determine what I should expect for a monthly payment on an M3 if I put down something like $15,000.

I am about to either purchase or order a 2022 or 2023 M3 Base manual transmission. I am hoping that those of you who recently fulfilled your orders can tell me what pricing you received. I'm asking because I was using the Leasehackr calculator to get an idea of my likely payment based on my preferred build, but when I got a quote for an M3 actually in stock it was a super high monthly payment. The only thing I can imagine is that he may have marked up the price 20% over MSRP but maybe my math is wrong.

Specifically, what are you seeing as the money factor or APR on leases? Are you willing to share your monthly payment and your initial down payment?

Today I got a quote from a sales guy in Florida who has a new 2022 M3 Base on the lot. MSRP $76,545 and residual of 59%. He quoted a monthly payment of $1,200 after a $15,000 down payment. WOW! That's not normal is it? My taxes are 7.885%. I qualify for $500 in loyalty incentive and $1,000 for new grad.

Here is a Leasehackr calculator of what I would have expected for the pricing:

I really appreciate whatever information you can offer on M3 Base pricing. The details of what I was quoted are below.

Here is the M3 build and then the pricing he quoted for the M3 currently in stock at the dealership:


Quote:

[DocWeatherington]

Walk... Ask them for the break down lol there is markup as with that large of a down payment and low msrp and a 59% residual that should be below 800 bucks with taxes. Residual loss is 41% which is 31,365...before you add in interest...your math is good.

You would be better off buying the car lol

A few points.... Don't put large amount of down payment because if 20mins you get rear ended your not got to get that back via insurance claims.

Hold liquid cash.

[DocWeatherington]

For reference here is the thread on what people are getting in this market...


https://www.bimmerpost.com/forums/sh....php?t=1772091

Look at bmw select if it applies or a local bank and buying the car outright especially if your going 15k down. The math makes better sense

[wtwo3]

1) Don't put a downpayment on a lease... like at all. If your car is totaled or stolen, especially earlier in the lease, you risk losing the entire amount.

2) Ask the dealer for a breakdown. What is the selling price, what money factor they're charging, etc.

3) Call around multiple dealers. You should be able to find one that charges MSRP. As for money factor, from my experience the ones that are charging MSRP are charging an inflated money factor.

4) I'm a huge proponent of leasing, but even I can't justify leasing in this market. Current lease rates are horrible and leasing just doesn't make sense unless you have a tax write-off you can leverage. My plan is to finance and bring in 3rd party financing which will undoubtedly be lower than what BMWFS is offering.

[DocWeatherington]

I will also add... While lease rate sucks.... Bare in mind the car market. You may have a lot equity in 3yrs as your paying for a projected lower residual now. But the market could also go to shit and while the high lease rates today maybe spot on if in 36 months the car market takes a shit.

Moral of the story get the best deal today taking in consideration were you want to be 3yrs from now.

[vj123]

Looks like a typical FL dealer.

If you plan to lease in the current market, you shouldnt putting any down on a lease.

[gs1403]

Originally Posted by DocWeatherington

I will also add... While lease rate sucks.... Bare in mind the car market. You may have a lot equity in 3yrs as your paying for a projected lower residual now. But the market could also go to shit and while the high lease rates today maybe spot on if in 36 months the car market takes a shit.

Moral of the story get the best deal today taking in consideration were you want to be 3yrs from now.

59% residual is fairly high. Most of the high payment would be due to money factor and markup, which is essentially money down the drain.

[Delmoney335]

Never go back to that dealer again lol they must be marking up 10-15k over sticker

[The OL OG]

Thanks so much for all the helpful replies! I responded to the dealer in Florida asking for specifics and he got cagey. Emphasized that someone was coming in for an appointment so we better make a deal before it's gone. Not a great salesman and clearly looking to squeeze every dollar they can out of the scarcity right now. I'm sure someone that is less patient will buy that car this week.

Thanks for all the advice including the down payment. Well I understand the financial sense in doing a purchase over the lease, I would have to do an 84 month loan to bring the price into range for me, and I don't love that.

I have very few vices, cars and motorcycles. If I can only afford the lease vs purchase for the new M3 I'm ok with that. I just need to convince my wife that a $1,500 car payment isn't totally excessive (because it is )

[gohawks23]

Originally Posted by The OL OG

Thanks so much for all the helpful replies! I responded to the dealer in Florida asking for specifics and he got cagey. Emphasized that someone was coming in for an appointment so we better make a deal before it's gone. Not a great salesman and clearly looking to squeeze every dollar they can out of the scarcity right now. I'm sure someone that is less patient will buy that car this week.

Thanks for all the advice including the down payment. Well I understand the financial sense in doing a purchase over the lease, I would have to do an 84 month loan to bring the price into range for me, and I don't love that.

I have very few vices, cars and motorcycles. If I can only afford the lease vs purchase for the new M3 I'm ok with that. I just need to convince my wife that a $1,500 car payment isn't totally excessive (because it is )

Also, that lease quote is for a low mileage lease of 7500/yr.

Payment on that scenario at MSRP and full MF markup is 1224 with 1500 incentives...so that is what you should tell dealer you are willing to pay...only first payment and dealer/govt fees down.

You should be smart enough to calculate and know upfront what your payment should be based on what you are willing to do...and not rely on dealer quotes.

Doing reverse engineering on the payment with 10K down that dealer is charging you around 90500 for car including incentives and the nitro and perma fees.

https://leasehackr.com/calculator?ma...w_demo_25=true

https://leasehackr.com/calculator?ma...w_demo_25=true

PS, if ordering and by time you get car lease MFs and potentially RVs will be even more HORRENDOUS...along with few K price increases.

[purpl3ish]

sounds like Braman BMW in west palm beach with their pretty basic equipped 6 speed ; i had called them about possibly getting on their waitlist and they told me about the 6 speed on their showroom floor that they want 20K over for.

was this the one?

[canigetaxm]

BMW select is the way to go if you are trying to keep your payment under 1500 especially in fl
I'm paying 1100 on a 96k build. keep your 15k for the final payment, you should not go back to that dealer ,they are trying to rip you off

[The OL OG]

Originally Posted by purpl3ish

sounds like Braman BMW in west palm beach with their pretty basic equipped 6 speed ; i had called them about possibly getting on their waitlist and they told me about the 6 speed on their showroom floor that they want 20K over for.

was this the one?

Yeah, it was. They show up on BMW's annual report as an award winning center of excellence. I was in Miami two months ago and there.was a while culture of driving around the blocks in circles in >$100,000.cars revving the engine. I imagine they sell a lot of expensive cars at inflated prices down there. The sales guy was really eager with me and said there was someone coming in for an appointment soon but I could still buy it if we could "make a deal tonight" because he wanted to sell it instead of his colleague. If he really wanted to sell it he should have given a respectable price.

[The OL OG]

Originally Posted by canigetaxm

BMW select is the way to go if you are trying to keep your payment under 1500 especially in fl
I'm paying 1100 on a 96k build. keep your 15k for the final payment, you should not go back to that dealer ,they are trying to rip you off

Thanks for sharing your experience with BMW Select! I hadn't seen that before. I'm really excited because this may fit exactly what I need. Do the lower payments last for 3 years and then the rest of the loan is due all at once? Then I imagine you would refinance it.

So if I put down $15,000 to start with BMW Select, I could have even lower payments, like $650, correct? Then I could save up and be ready a few years. Later when the balloon payment hits. If I arrange it correctly I can stay above water with equity in the car. What do you think?

I refinance all my auto and motorcycle loans through Altra Credit Union. They are amazingly low. They'll do 1.99% if you refinance your loan with them. Friendly people too.

[canigetaxm]

Originally Posted by The OL OG

Thanks for sharing your experience with BMW Select! I hadn't seen that before. I'm really excited because this may fit exactly what I need. Do the lower payments last for 3 years and then the rest of the loan is due all at once? Then I imagine you would refinance it.

So if I put down $15,000 to start with BMW Select, I could have even lower payments, like $650, correct? Then I could save up and be ready a few years. Later when the balloon payment hits. If I arrange it correctly I can stay above water with equity in the car. What do you think?

I refinance all my auto and motorcycle loans through Credit Union. They are amazingly low. They'll do 1.99% if you refinance yAltraour loan with them. Friendly people too.

you are basically paying %66 of the total price and have the last payment due is %34 that is left and its over 5 years so if you put 15k down that reduces the selling price and interest and tax so your price could be closer to 650

[wtwo3]

Personally I would just do 3rd party financing. Through a credit union you should be able to undercut BMWs rate pretty significantly especially as many dealers are marking up interest rates.

If you're putting $15k down and car price of say, $80k, at a 3.5% rate (I think you can do way better with a credit union but I'm being conservative) over 60 months and tax rate of 7% (I'm not sure what your local sales tax is so just taking 7% as an example), your monthly payment would be well below $1,500.

[Buddym850icoupe]

Braman is probably the sleaziest dealership network I have ever experienced. Never buy from them