Did i get "F"ed with the lease? - BMW 1 Series Coupe Forum / 1 Series Convertible Forum (1M / tii / 135i / 128i / Coupe / Cabrio / Hatchback) (BMW E82 E88 128i 130i 135i)

Quick1 TO BE · 07-31-2008, 04:44 PM

hi guys, i need help figuring this out.

i got the car and for some reason I HATE IT.. dont get me wrong the car is fantastic in every aspect but the thought of me being screwed with the lease makes me want to run it under a semi..
the car came out to 40,100 after all said and done.(tax tags title registration bank fee etc etc...) i put $8000 down on a 3 year lease 15000miles per year at 519 per month.. the way i calculated it 36X$519= $18,684 + $8000= $26,684. now thats a little steep for a 3 year drive..

what do you guys pay?????? am i really fucked cuz i swear if thats the case im gonna go get that bitch by the hair and smack her face with a vending machine or something lol

i have an option of getting a loan and finance it for 5 years..

any help is highly appreciated

thanks in advance

Ash

emm3tt · 07-31-2008, 04:49 PM

Quote:

Originally Posted by Quick1 TO BE

hi guys, i need help figuring this out.

i got the car and for some reason I HATE IT.. dont get me wrong the car is fantastic in every aspect but the thought of me being screwed with the lease makes me want to run it under a semi..
the car came out to 40,100 after all said and done.(tax tags title registration bank fee etc etc...) i put $8000 down on a 3 year lease 15000miles per year at 519 per month.. the way i calculated it 36X$519= $18,684 + $8000= $26,684. now thats a little steep for a 3 year drive..

what do you guys pay?????? am i really fucked cuz i swear if thats the case im gonna go get that bitch by the hair and smack her face with a vending machine or something lol

i have an option of getting a loan and finance it for 5 years..

any help is highly appreciated

thanks in advance

Ash

Putting down 8 grand you may as well finance it.....payment wouldn't be that much more.

tkbr0wn · 07-31-2008, 04:56 PM

never, ever, ever, never, ever, ever, ever put ANY money down on a lease EVER. If you can change to a purchase, I would do it.

Quick1 TO BE · 07-31-2008, 05:06 PM

well if i hadnt put any down payment the monthly would have come up to 743 per month

743 - 519 = 224 per month extra.

224 X 36 = 8,064 over three year period. so all im doing pretty much is pre- paying the depreciation..

aghh this whole thing if very confusing..

but im thnkin about changing it to finance atleast i can sell later and get some money back..

Ash

imported_mega · 07-31-2008, 05:20 PM

leasing is gonna hurt your butt on these 1 series

warmtoes · 07-31-2008, 05:25 PM

If you're going to put any money into it to get the lease cost down use the multiple security deposit route as it reduces your rate and you get the money back at the end.

Otherwise, do not put anything down on a lease.

ModlessG · 07-31-2008, 05:26 PM

I did a lease because of the uncertainty of fuel prices and what they may do to car values. I felt the 74% residual on a two year lease was a good deal for me. In fact i am betting on the car not being worth the residual value ($27000). If I like the car at the end and its worth the residual value or more then I will buy it. If its not worth as much as the residual I will turn it in and then repurchase it at a lower price ( I have done this before at as much as $2000 below the residual). My payment with zero down was $566 on a $35500 price . If gas is $8.00 I may even buy something else at that time. I just really felt it was a bad time to own a car the lease was a way to hedge my bet.

BEAMERBOI · 07-31-2008, 05:30 PM

My 135 came out to about 47000 and my payment for 5 yrs are about 600mth with 18000 down

imported_mega · 07-31-2008, 05:31 PM

Quote:

Originally Posted by ModlessG

I did a lease because of the uncertainty of fuel prices and what they may do to car values. I felt the 74% residual on a two year lease was a good deal for me. In fact i am betting on the car not being worth the residual value ($27000). If I like the car at the end and its worth the residual value or more then I will buy it. If its not worth as much as the residual I will turn it in and then repurchase it at a lower price ( I have done this before at as much as $2000 below the residual). My payment with zero down was $566 on a $35500 price . If gas is $8.00 I may even buy something else at that time. I just really felt it was a bad time to own a car the lease was a way to hedge my bet.

you know with zero down on a lease if I could get 600 a month for the car I configured (42k msrp) I think i would do it too

larryn · 07-31-2008, 05:43 PM

I changed mine to a purchase at the last second for that same reason. BMW Financial Services had a crumby rate to finance the 135i at the time, and my finance guy at the BMW Center set it up so that I got a 3.125% loan via a bank they deal with.

See what they can do for ya.

Brandon26pdx · 08-01-2008, 03:39 PM

I would have put the $8k down on a 72 month loan anyday of the week. Your payment would have been ~$550ish assuming 6% on a ~$40k car with sales tax. (No sales tax in my state though

Worse case scenario you get tired of the car or the pymt and dump it a year later with no drama.

EmeraldRx · 08-01-2008, 03:45 PM

I have a vert LOADED 50k sticker. Zero dollars down and I'm paying $705/mo. I did pay tax up front. 36mo lease.

Omega Man · 08-01-2008, 04:13 PM

Leasing wouldn't work for me on anything other than one of the massive lease car models, like the 3 series BMW or the G35 or the Lexus of equal stature. All automatic and loaded with the luxury stuff. Not a half stripped manual tranny sports cars.

e36chris · 08-01-2008, 05:16 PM

hey guys, read through this thread and i have my own question..

recently i discovered my parents lease on the benz is up, and they need to lease another car (dads partner is, so he needs to get a new one)..

they are considering throwing the bmw on the buisness, and me paying them the payments.

now my question, is this feasible for me, i want to keep the car, and would i put down 0 down on the lease, or as much as i could to keep the payments down?

kinda lost, thanks fellas

07-31-2008, 04:44 PM	#1
Quick1 TO BE Private First Class Drives: AW 135i 6MT Join Date: Jun 2008 Location: VA Posts: 144 iTrader: (0)	Did i get "F"ed with the lease? hi guys, i need help figuring this out. i got the car and for some reason I HATE IT.. dont get me wrong the car is fantastic in every aspect but the thought of me being screwed with the lease makes me want to run it under a semi.. the car came out to 40,100 after all said and done.(tax tags title registration bank fee etc etc...) i put $8000 down on a 3 year lease 15000miles per year at 519 per month.. the way i calculated it 36X$519= $18,684 + $8000= $26,684. now thats a little steep for a 3 year drive.. what do you guys pay?????? am i really fucked cuz i swear if thats the case im gonna go get that bitch by the hair and smack her face with a vending machine or something lol i have an option of getting a loan and finance it for 5 years.. any help is highly appreciated thanks in advance Ash
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07-31-2008, 04:56 PM	#3
tkbr0wn Major Drives: 1M BSM (297 of 740) Join Date: Jun 2008 Location: Atlanta Posts: 1,213 iTrader: (0)	never, ever, ever, never, ever, ever, ever put ANY money down on a lease EVER. If you can change to a purchase, I would do it. __________________ ● 135i is gone, 1M BSM #297 ●

07-31-2008, 05:25 PM	#6
warmtoes Lieutenant Colonel Drives: X3 35i Join Date: Apr 2008 Location: Vancouver Posts: 1,768 iTrader: (1)	If you're going to put any money into it to get the lease cost down use the multiple security deposit route as it reduces your rate and you get the money back at the end. Otherwise, do not put anything down on a lease. __________________ TiAg/Coral Red 135i Vert *X3 35i M-Sport received but haven't taken pics yet.*

07-31-2008, 05:30 PM	#8
BEAMERBOI Photographer Drives: x1 35i M version 2013 Join Date: Apr 2008 Location: South Florida Posts: 486 iTrader: (0)	My 135 came out to about 47000 and my payment for 5 yrs are about 600mth with 18000 down __________________ My work http://www.curtissmithphotography.com

08-01-2008, 03:45 PM	#12
EmeraldRx Private First Class Drives: Join Date: May 2008 Posts: 163 iTrader: (0)	I have a vert LOADED 50k sticker. Zero dollars down and I'm paying $705/mo. I did pay tax up front. 36mo lease. __________________ 135 Convertible 6MT Cashmere Silver/Terra Interior/Black Top/All Options(except Active Steering and HD radio)[/color][/font] 1987 Corvette Convertible-29k mi 1989 Bronco Eddie Bauer 2008 Nissan Armada (wifes)

07-31-2008, 05:06 PM	#4
Quick1 TO BE Private First Class Drives: AW 135i 6MT Join Date: Jun 2008 Location: VA Posts: 144 iTrader: (0)	well if i hadnt put any down payment the monthly would have come up to 743 per month 743 - 519 = 224 per month extra. 224 X 36 = 8,064 over three year period. so all im doing pretty much is pre- paying the depreciation.. aghh this whole thing if very confusing.. but im thnkin about changing it to finance atleast i can sell later and get some money back.. Ash

07-31-2008, 05:20 PM	#5
imported_mega Lieutenant Colonel Drives: various bmw's Join Date: Jul 2007 Location: neverland Posts: 1,983 iTrader: (0)	leasing is gonna hurt your butt on these 1 series

07-31-2008, 05:26 PM	#7
ModlessG Private Drives: Join Date: Apr 2008 Posts: 83 iTrader: (0)	I did a lease because of the uncertainty of fuel prices and what they may do to car values. I felt the 74% residual on a two year lease was a good deal for me. In fact i am betting on the car not being worth the residual value ($27000). If I like the car at the end and its worth the residual value or more then I will buy it. If its not worth as much as the residual I will turn it in and then repurchase it at a lower price ( I have done this before at as much as $2000 below the residual). My payment with zero down was $566 on a $35500 price . If gas is $8.00 I may even buy something else at that time. I just really felt it was a bad time to own a car the lease was a way to hedge my bet.

07-31-2008, 05:43 PM	#10
larryn Major General Drives: '97 332ti, '10 E92 M3 Join Date: May 2005 Location: Seattle Posts: 8,286 iTrader: (2)	I changed mine to a purchase at the last second for that same reason. BMW Financial Services had a crumby rate to finance the 135i at the time, and my finance guy at the BMW Center set it up so that I got a 3.125% loan via a bank they deal with. See what they can do for ya.

08-01-2008, 03:39 PM	#11
Brandon26pdx Lieutenant Colonel Drives: 2011 135i Join Date: Oct 2007 Location: Portland, OR Posts: 1,938 iTrader: (1)	I would have put the $8k down on a 72 month loan anyday of the week. Your payment would have been ~$550ish assuming 6% on a ~$40k car with sales tax. (No sales tax in my state though Worse case scenario you get tired of the car or the pymt and dump it a year later with no drama.

08-01-2008, 04:13 PM	#13
Omega Man Member Drives: Join Date: Jun 2008 Posts: 168 iTrader: (0)	Leasing wouldn't work for me on anything other than one of the massive lease car models, like the 3 series BMW or the G35 or the Lexus of equal stature. All automatic and loaded with the luxury stuff. Not a half stripped manual tranny sports cars. __________________ The black and red andrenaline rush has finally made it home from Sebastian Olszewski and the group at Mike Smith Beaumont. Got it right before the big storm hit, as in 36 hours before. So lucky. Anyway, these folks are a great dealership to do business with. Ordered June 2008 ED July 2008 Stateside delivery September 2008

08-01-2008, 05:16 PM	#14
e36chris Second Lieutenant Drives: Join Date: Feb 2008 Posts: 216 iTrader: (0)	hey guys, read through this thread and i have my own question.. recently i discovered my parents lease on the benz is up, and they need to lease another car (dads partner is, so he needs to get a new one).. they are considering throwing the bmw on the buisness, and me paying them the payments. now my question, is this feasible for me, i want to keep the car, and would i put down 0 down on the lease, or as much as i could to keep the payments down? kinda lost, thanks fellas

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