[JayL1234]

Hey, I just want some advise on my G80 finance that'll most likely be delivered next month. I initially wanted to lease it for 3 years and then potentially buy it if I want to keep but I was told by my CA that there is not leasing offer available (no sales or special offer from BMW FS) which sounds a little odd to me. Also, is the non tax fee of $550 normal? It seems a little high for the licensing, tag, etc.. and processing fee of $995 seems like random up-charge from the dealership.

Here is a breakdown of what my CA provided:

MSRP $96,395 (including $995 destination fee)
Processing Fee $995
Tax $5,843.4
Non Tax Fees $550.06
Total $103,783.46

$10,000 down
6% interest (estimated rate)
$1814/month for 60 month

If I can get some feedback on whatever this is normal or I am getting played.

Thank you !

[fueledbymetal]

I'm also buying from a MD dealer but my dealer processing fee is a flat $500 and my tag/reg fee is only $351.

You should also be able to find a better rate than 6% at 60 outside of BMW financial services.

[MackyT83]

I have tied one credit, and was given 5.49 for 72 and 4.99 for 60 with BMW FS. They run TU credit. Residuals and MF right now on leases are stupid high.

I also thought about leasing but if I want to turn it in early I’m going to get nailed. I’d rather own in case I get the urge to mod. Plus I’m pretty confident that these G80s will hold their value.

[robopp]

Not knocking the OP. I fully support doing whatever you want with your money, but $1800/month without insurance for a M3 makes me cringe.

[kgelfen360]

Originally Posted by robopp

Not knocking the OP. I fully support doing whatever you want with your money, but $1800/month without insurance for a M3 makes me cringe.

But I dunno how else math can work out on it based on the total price. And leases likely won’t be good deal. I know people ended up with amazing lease situations because of Covid but that was once in life time situation.

[JayL1234]

Originally Posted by MackyT83

I have tied one credit, and was given 5.49 for 72 and 4.99 for 60 with BMW FS. They run TU credit. Residuals and MF right now on leases are stupid high.

I also thought about leasing but if I want to turn it in early I’m going to get nailed. I’d rather own in case I get the urge to mod. Plus I’m pretty confident that these G80s will hold their value.

Ah I see, got approved for BMWFS but they said the best rate is 6% right now

[JayL1234]

Originally Posted by fueledbymetal

I'm also buying from a MD dealer but my dealer processing fee is a flat $500 and my tag/reg fee is only $351.

You should also be able to find a better rate than 6% at 60 outside of BMW financial services.

Any recommendations if possible?

[Ervin87]

That car will end up costing you nearly $120K after 60 months.

Best option is to just buy the car, but I may be in the minority.

[xxdachosen1xx]

6% is way too high, if you look hard enough you can find rates in the low 4% maybe even high 3%. I got a rate lock last month for 3.49% for 72 months through my local CU.

Use this site to find better rates.
https://www.datatrac.net

[MackyT83]

Originally Posted by JayL1234

Ah I see, got approved for BMWFS but they said the best rate is 6% right now

While I don’t know your dti or credit score, your CA may be adding a markup.

[e46e39g80]

Are they saying you can’t lease or they don’t recommend leasing based on current programs?

Dealers will always charge processing fees. Check nearby dealers to see how $995 compares. It may be on the high side by a few hundred dollars. If the $550 fee is tags/title it again seems high. All in all these fees are nominal on a $96k car, but worth it to ask questions to dealer and get clear answers. The bigger impact on your payment, aside from the rate which is inline with current offers and the marketplace, is the down payment.

Btw, as an NYC consumer I am envious of your taxes - 8.875 here!

[JayL1234]

Originally Posted by xxdachosen1xx

6% is way too high, if you look hard enough you can find rates in the low 4% maybe even high 3%. I got a rate lock last month for 3.49% for 72 months through my local CU.

Use this site to find better rates.
https://www.datatrac.net

Thanks for sharing that, great tool !

[JayL1234]

Originally Posted by e46e39g80

Are they saying you can’t lease or they don’t recommend leasing based on current programs?

Dealers will always charge processing fees. Check nearby dealers to see how $995 compares. It may be on the high side by a few hundred dollars. If the $550 fee is tags/title it again seems high. All in all these fees are nominal on a $96k car, but worth it to ask questions to dealer and get clear answers. The bigger impact on your payment, aside from the rate which is inline with current offers and the marketplace, is the down payment.

Btw, as an NYC consumer I am envious of your taxes - 8.875 here!

They just said there is no sales or BMW FS special offers for it, from my understanding it seems like he is implying leasing isn’t possible right now