Quote:
Originally Posted by ezmaass
Yeah, I'm getting the sense that depreciation on these cars is some of the worst I've ever seen.
I've never been into used/CPO cars. It's clearly the smartest decision (buying 2 years old or so) - but I enjoy getting a car brand-spanking new and not thinking about who had their hands on the wheel or butt in the seat prior.  In the case of the GC, the '17 also seems to add the updated iDrive 5.0 which is appealing. But all of that said, given the egregious price variance between new and 2 years old, I may think more carefully about it... if there was truly a perfect (fully loaded and low mileage) example out there.
I've put out 4 quote requests through Edmunds to local dealers - they're just starting to reach out this morning, so I'll see what some competition yields. Finance rates through 3rd parties (like PenFed) are very, very low, so unless there was a compelling lease offer, I'm leaning towards just financing.
Anyone here that leased new/bought new and can share their numbers? What kind of discount are you guys getting? Looks like MSRP of $111k on the car I've configured would yield about a $103k invoice. |
So here is something to remember...
The more options you put on your car, the better the reason to lease. I learned this the hard way with my 2006 550 when I went to get rid of it after 2 years and found out that things like: Comfort Seats, Fold down rear seats, etc etc - all were worth $0 on the trade. They only cared about the sport package, CWS, and transmission choice (so they based the trade on my car being worth $60K when I bought vs. the $70K the sticker was). With the lease, that fancy interior you want, you will get 60% of your money back -with the purchase you have just eaten that cost and will never get it back.
And...
With the lease, you are guaranteed a residual -so 60% of $111K = $66.6K (and I'm using 60%, not sure what the actual residual is). That's a lot more than what the car will be worth after three years (my bet anyway).
Now..
With a BMW program car - so a car that a BMW exec has driven, you get to lease with the residual based on the MSRP and the purchase based on what BMW sells the car to the dealer for (plus profit). I've seen $80,000 5-series lease for $650 a month (and that's with IL tax based on the entire amount of the lease payments). IF your dealer can find you one of these, it is by far your best bet - and only driven by one person prior to you
I will PM you what I ended up paying for mine BTW.