03-26-2018, 10:30 PM | #1 |
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Lease or Finance the new M5
I was lookig forward to either Lease or Finance the M5, If I lease, I would put $10,000 down for 12k Miles for 24 months. If I finance maybe 20,000 down for 72 Months. Thing is I never keep cars older than 1.5-2 years, I get rid of them, in a Lease im stuck in contract but than again I dont wanna lose alot money on the depreciation rate by financing. Most important factor is I need this car gone within 1.5-2 years, so what are my best options?
I tried looking at E63 amg, their prices are absurdly high. I love both cars. |
03-26-2018, 10:39 PM | #2 |
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Whatever you do, try to minimize the amount you put down on a lease. Only put down the required, meaning taxes, registration, 1st month, bank fee and thats it. The rest is pure profit for the dealer and you lose out on that money if the car were totaled. Realistically, you're looking at around $4000 in taxes, $300 in registration, $725 bank fee and about $1800-$2000 1st payment(based on 24 months). Thats a total of around $7K. Keep the $3k in the bank.
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03-27-2018, 06:59 AM | #3 | |
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BMW leases come with GAP insurance, you won't lose money that you put down. Even then, that could only happen in a scenario where the remaining amount on the lease far exceeds the value of the car (i.e. if you drive it off the lot and total it immediately). In the opposite scenario, where you put money down and have equity in the car, you will get that money from your insurance company. That said, assuming the MF is low, I still don't advocate for putting money down on a lease and targeting some specific monthly payment. Last edited by bigsid05; 03-27-2018 at 07:05 AM.. |
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03-27-2018, 11:09 PM | #4 |
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Lease.
Simply because you like to change car every 18-30 months
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04-04-2018, 03:43 AM | #5 |
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Lease it for 3 years, put as little down as possible, then put it up on swapalease in a year or two.
But be prepared to offer an incentive. In a year or two, these m5s will be at around 900/1k a month with discounting
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04-22-2018, 09:18 AM | #7 | |
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Can you please Clarify what you wrote...... It reads like you put down 50k and are leasing for 900/mo? That seems way to high |
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04-22-2018, 03:18 PM | #8 |
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04-22-2018, 03:22 PM | #9 |
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Sounds like you got hosed badddddd
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04-22-2018, 08:27 PM | #10 |
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No need.....if he makes decisions like that he will be broke in a year anyways.
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04-22-2018, 11:36 PM | #11 |
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no i wanted to buy out the car out right in cash.
and then dealer told me if i do that i will catch a flag on irs system. best way would be lease it and not pay the sales tax upfront. and few months after turn into finance and pay for few months and pay it off. thats how i did it with m4 also, i down pay 10k and payment is 1200 but i turned it into finance and now im paying 1300ish. |
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04-22-2018, 11:40 PM | #13 |
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Did you ever try doing that? Does it sell in swapalease?
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04-22-2018, 11:45 PM | #14 | |
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Even if you paid MSRP and you got every single option available on the car, you are not going to hit a $2300/month rate without a ~$20k dealer markup. |
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04-22-2018, 11:50 PM | #15 | |
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04-23-2018, 12:05 AM | #16 | ||
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https://www.irs.gov/businesses/small...dealership-qas Quote:
I'm thoroughly confused at your situation. |
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04-23-2018, 12:09 AM | #17 | |
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maybe next year if i get sick of it ill sell it and get something else. |
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04-23-2018, 07:01 AM | #18 |
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04-23-2018, 08:19 AM | #19 | |
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04-23-2018, 09:49 AM | #20 | |
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Next time, talk with a tax professional, CPA or tax lawyer instead.
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04-23-2018, 10:34 AM | #21 | |
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Last edited by Greer; 04-23-2018 at 10:44 AM.. |
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04-23-2018, 10:47 AM | #22 | |
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The key is in the fine print, this deal is on a 105k msrp car so its basically got nothing... so the payment will be less just based on the start point of the gross cap. I dont think Ive found one car at this msrp yet but its early.
In reality is the lessee thats contributing to driving the price down not the lessor here: Quote:
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