Offered a 2009 BMW 335i sedan, good deal?

[Doggiedog]

My 335i costs about $2000/yr to insure. My G35 Sport Sedan was $1500.

Also, I believe my rims and performance tires were part of the sports package. I would not have paid extra for them as I would have bought some aftermarket rims instead. If I were to get a 335i now, I would opt for the M Sport package. I really like those new rims and M accents. That package came out 3 weeks after I purchased my car so I was a bit bummed.

 

[dirtboy]

Just got off the phone with the BMW sales representative a few hrs ago. Here is the final offer:

$6200 down payment
$437/mo. for 36 months

2009 335i BMW Sedan
Space Gray Metallic with Black Leather Interior
Premium Package
Navigation System
Xenon Headlights
Premium Sound System

They are offering me $5200 trade-in value for my existing car which would bring the down payment down to $1000.

The 335i comes with Xenon's & the Logic 7 standard, so that shouldn't be a factor.

Before the down payment your lease is $609 for 36 months and all you're doing is buying the payment down.

I don't think this is a very good deal.

I picked up a 2008 335i with the premium & sport packages on a lease swap. It was 8 months old and my payment with taxes is $442/mo. He lost his $5k+ buy down and it only cost me $500 to transfer the lease.

Granted he bought 10k miles and I drive a bit over 12k a year, but that's a minor issue I think.

And I wouldn't get one without the sport package.

 

[exar333]

What state are you leasing the vehicle in? In MN, you have to pay sales tax on the MSRP (NOT the lease amount) when leasing any vehicle. It really makes leasing prohibitively expensive on short leases for expensive cars. :/

 

[Doggiedog]

Logic 7 is no longer standard. You have to pay extra for it. It cost me $750 I believe.

If BMW still has 0.9% financing on CPO cars, I would definitely go that route.

 

[cheesehead]

Sport package FTW.

I guess the big question is how long you're willing to keep the car. If you're like my parents who buy a new car roughly once every eight years, buying makes more sense than leasing. If, however, you'd rather get something new as soon as it's released, leasing is the way to go.

 

[yuppiejr]

Maybe it is specific to me? I use USAA and my 2005 Civic EX cost about $100 more to insure per year than my 2006 BMW 330i Sedan fully loaded and I live near Sacramento, CA.

Trust me, I was shocked at this data as well but speaking with my co-workers who also own BMW SEDANS, they have similar experience with their respective insurance.

By chance was your Civic a 2-door? If you are comparing insurance rates on vehicles you have to keep the door count the same, 2-door coupes and hatchbacks pay significantly more based on insurance risk calculation (particularly for young dudes) than the same car in a 4 door sedan configuration.

 

[Don Vito Corleone]

By chance was your Civic a 2-door? If you are comparing insurance rates on vehicles you have to keep the door count the same, 2-door coupes and hatchbacks pay significantly more based on insurance risk calculation (particularly for young dudes) than the same car in a 4 door sedan configuration.

I think the difference must relate to the fact that the Civic is such a frequently stolen car. I suspect the turbo on the 335i would make it more expensive to insure than a 330i, and perhaps more than a Civic as well. FWIW I pay $362/6 mo. with very high limits for my 330i. I live in MN and use USAA.

 

[StageLeft]

22K for a 3 year lease on a 1 model year old car seems very steep.

Seems like the dealer is trying to get you to eat the full depreciation of the vehicle for the last year it's been sitting on the lot. IMO financially, terrible, terrible deal. WORST DEAL EVER

Fixed.

Run and run fast.

 

[OneOfTheseDays]

This vehicle actually has the sports package as well.

So it's:

Space Grey Metallic
Black Leather Interior
Premium package
Sports package
Navigation

For:

$6200 for down payment + all dealer fees with tax
$437 a month including taxes

I have yet to find a dealership that can even come close to matching this offer surprisingly. The closest I have found thus far is $513 + taxes given the same down payment.

 

[cbrsurfr]

Did you get burned by a DSG failure or something? VW has recently extended the warranty to 10 years 100K on affected DSG transmissions and is reimbursing those that paid out of pocket for repairs. The recent failures are due to either a temperature sensor or bushings in the mechatronics unit. A total DSG replacement would be more than $5K anyway, the mech unit alone is $4400. VW has sold over a million DSG's, I don't think they would have sold that many if they are all prone to frequent failure.

Depends.

Leasing makes sense in some situations. If you intend to purchase a new car in three years or less anyway and don't intend to sell the car yourself, leasing can be a very reasonable option. For cars with severe reliability issues (say, the Volkswagen R32 with the prone-to-frequent-failure $5,000 DSG gearbox), this can be a benefit - as soon as the warranty ends, the car becomes someone else's problems.

Part of the question is how you drive it. If you intend to really thrash the car (see R32 above), you can do a lot of damage in ten thousand miles. If you're driving it on endless highway miles, you might do none at all.

 

[StageLeft]

This vehicle actually has the sports package as well.

So it's:

Space Grey Metallic
Black Leather Interior
Premium package
Sports package
Navigation

For:

$6200 for down payment + all dealer fees with tax
$437 a month including taxes

I have yet to find a dealership that can even come close to matching this offer surprisingly. The closest I have found thus far is $513 + taxes given the same down payment.

Another way to look at it is you're in prison and a guy wants to make you eat his salad. And yet another man promises to shower first and then make you eat it. Is either one really a good deal?

 

[amdhunter]

Am I the only one that thinks this deal is ok? I wish I could find something close to that here in NY. Too bad BMW is uninsurable for me -- money wise.

 

[Zargon]

I would be hard pressed to think any deal where after 3 years and 5 figures, you have nothing of value left.

 

[Muadib]

BTW, how does one embed pictures onto this new forum format? I can't figure it out.

Go to UserCP, Edit Options, then Miscellaneous Options. Change your Message Editor Interface to either Standard or Enhanced.

To the OP, there is quite a bit missing to be able to tell if it's a good deal or not. You mentioned that they offered you $5200 for your current car. How close it that to the book value? What about the BMW? Do you know it's current value? Do you know what numbers were used to get to $437? How many miles are on the BMW now? How many miles are you allowed per year? 10k, 12k, 15k? What is your money factor or interest rate that your loan is based on? I think it's still 0.9% like Doggiedog mentioned? Is that what you got?

You need to know the answers to these questions before you know how good the deal is.

 

[dirtboy]

This vehicle actually has the sports package as well.

So it's:

Space Grey Metallic
Black Leather Interior
Premium package
Sports package
Navigation

For:

$6200 for down payment + all dealer fees with tax
$437 a month including taxes

I have yet to find a dealership that can even come close to matching this offer surprisingly. The closest I have found thus far is $513 + taxes given the same down payment.

Wait a second... you're going to give them your trade in PLUS $6,200???

Are you crazy?

The only way I match that payment with taxes is if you are putting $11,400 down and only get 10k miles a year.

That is absurd.

 

[Arkaign]

I think the difference must relate to the fact that the Civic is such a frequently stolen car. I suspect the turbo on the 335i would make it more expensive to insure than a 330i, and perhaps more than a Civic as well. FWIW I pay $362/6 mo. with very high limits for my 330i. I live in MN and use USAA.

I came in here directly to post just that. Honda products, in particular Civics, RSX, Integra, basically all of their 4-cylinder products are incredibly popular with car thieves, causing a weird disparity in insurance costs. If you want to look at cheap insurance, look at Kia Rio, Chevy Aveo, crap like that which not even thieves want to steal AND they are far from performance oriented.

OP, I wouldn't do it, unless you're just determined to pay that $ for a basic throwaway. $22k will outright BUY a fairly low-miles G35/G37 sedan, so if you could get a loan on something of that nature for a low %, then you wouldn't be stuck with absolutely nothing to show for it in three years. I'd imagine a well-kept G35/G37 sedan ('05-'07?) would still be worth at least $10k in 3 years.

Even if it dropped to let's say $8k. That's $8k more than you would have had left over, and $8k would be a heck of a down payment on something new.

 

[MixMasterTang]

Wait a second... you're going to give them your trade in PLUS $6,200???

Are you crazy?

The only way I match that payment with taxes is if you are putting $11,400 down and only get 10k miles a year.

That is absurd.

No, he said they were going to give him 5200 for his trade leaving him another 1g to put up the 6200.

Even if you are going to keep the car only 3 years, I think buying out right might be the better deal, I would look at that instead of the lease. BMW's tend to hold their value pretty good and at the end of 3 years it would still have a bit of Warranty and covered service left, so it shouldn't be that hard to sell or at least trade in on a new car.

Here is their financing promo:

4.9% Annual Percentage Rate Offer. Now for a limited time includes a $2,500 Holiday Finance Credit.
Qualified customers only. Available at participating BMW centers through BMW Financial Services NA, LLC. Applies only to specific models and only for specific model years. 4.9% APR available through 1/4/2010. $18.83 per $1,000. Subject to credit approval. See participating BMW center for details and vehicle availability.

* Holiday Finance Credit is a $2,500 credit against the MSRP of the final purchase of select models through 1/4/2010. Holiday Credit available to customers who lease or finance through BMW Financial Services NA only. Not available to customers who do not finance through BMW Financial Services NA.

 

[rh71]

there's this whole thing that you should NEVER put any money down on a lease.

 

[halik]

there's this whole thing that you should NEVER put any money down on a lease.

You're only saving yourself whatever APR they charge on the lease - it's sort of a moot point.

 

[StageLeft]

Wait a second... you're going to give them your trade in PLUS $6,200???

Are you crazy?

The only way I match that payment with taxes is if you are putting $11,400 down and only get 10k miles a year.

That is absurd.

LOL, $27,200 paid over three years plus taxes and only gets 36k, damn near a dollar a mile in depreciation. You can paypal me your money and I'll film me burning it.

 

[Doggiedog]

Muadib, thanks for the help!

OP, I think Mazda has a lease special on the Mazda3 for $239/mo no money down. That's a heck of a deal.

 

[OneOfTheseDays]

LOL, $27,200 paid over three years plus taxes and only gets 36k, damn near a dollar a mile in depreciation. You can paypal me your money and I'll film me burning it.

Learn how to read people. Do you really think I'm going to give them my car, which has a blue book value of $8000, AND a $6200 down payment? Are you that fucking stupid?

They've since upped their offer to the following:

Trade-in value for car: $7000
Money due at signing: $6200
Monthly payment: $437

It's surprising given how many people have said that this lease offer is horrible that I cannot find a SINGLE DEALERSHIP IN ALL OF SOUTHERN CALIFORNIA that can come close to matching this. One salesman flat out told me he couldn't match the offer and that I should probably take it if I could afford it.

 

[Arkaign]

Learn how to read people. Do you really think I'm going to give them my car, which has a blue book value of $8000, AND a $6200 down payment? Are you that fucking stupid?

They've since upped their offer to the following:

Trade-in value for car: $7000
Money due at signing: $6200
Monthly payment: $437

It's surprising given how many people have said that this lease offer is horrible that I cannot find a SINGLE DEALERSHIP IN ALL OF SOUTHERN CALIFORNIA that can come close to matching this. One salesman flat out told me he couldn't match the offer and that I should probably take it if I could afford it.

Well it's truly a very nice car. Consider the payments though :

$437/mo x 36 = about $16k

adding in the approximate $6200 for the beginning of this, that pops you to $22k for the privilege of driving the thing for 3 years, at the end of which you have nothing at all, other than any overages incurred.

If you can afford it, and you really want it, go for it. IMHO I'd much rather put $ into something that at least has some value at the end of the payment process, or that you can continue to drive for free (other than maintenance, gas, and insurance of course) after that period is over. See the example of the lightly used Infiniti G above.

Best wishes, and with that kind of budget, you're bound to find something really nice, whether or not it's this 335i, or whether or not it's a lease or purchase. Btw, I don't think the profanity is necessary here, it was just a misunderstanding I think.

 

[OneOfTheseDays]

Well it's truly a very nice car. Consider the payments though :

$437/mo x 36 = about $16k

adding in the approximate $6200 for the beginning of this, that pops you to $22k for the privilege of driving the thing for 3 years, at the end of which you have nothing at all, other than any overages incurred.

If you can afford it, and you really want it, go for it. IMHO I'd much rather put $ into something that at least has some value at the end of the payment process, or that you can continue to drive for free (other than maintenance, gas, and insurance of course) after that period is over. See the example of the lightly used Infiniti G above.

Best wishes, and with that kind of budget, you're bound to find something really nice, whether or not it's this 335i, or whether or not it's a lease or purchase. Btw, I don't think the profanity is necessary here, it was just a misunderstanding I think.

Well I personally have no interest in owning a BMW beyond the standard 4-year warranty. I like to change cars every 3-4 years.

 

[RichUK]

Leasing a car? Lol, fuck that!