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      02-20-2024, 10:35 PM   #1
AndreasM
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Lease used car M5 a M8

Hi,

I have a question, is it possible to lease an used car.

From what Iíve found on google there are certain dealers that lease used cars but Iím not 100% sure.

I would be interested to have a lease for maybe a year/two and then change the car, I donít want to own it at the end of the lease.

And if so, I would like to hear from you guys from where can I get it, how much it usually cost and what is the process.
In an ideal world I would go for an m5 or m8 coupe 2 door.

Here is a pic with my old 7series that I used to have.

Have a blessed day
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      02-20-2024, 11:13 PM   #2
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You can technically lease any car, but the terms and monthly payment are usually going to be a lot higher than a new car. Incentives, money factor (interest) and "beneficial" residual values set by the manufacturer help with a better monthly payment for new cars. Best bet is to find an oldest year that still have incentives ie 2023's when 2024 flood the showroom. Swapalease or any lease trading site if you're looking to get into a shorter term lease.
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      02-21-2024, 02:18 AM   #3
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Leasing a used car is a bad financial decision 100% of the time.
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      02-21-2024, 07:45 AM   #4
AndreasM
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Quote:
Originally Posted by calbear550 View Post
You can technically lease any car, but the terms and monthly payment are usually going to be a lot higher than a new car. Incentives, money factor (interest) and "beneficial" residual values set by the manufacturer help with a better monthly payment for new cars. Best bet is to find an oldest year that still have incentives ie 2023's when 2024 flood the showroom. Swapalease or any lease trading site if you're looking to get into a shorter term lease.
Can you tell me some website that I should look for, thank
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      02-21-2024, 08:20 AM   #5
AndreasM
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Ok, so from all the responses right know it seems that itís better to lease a new one.

Do you guys think that in todays market I should be able to get an m5/ m8 with max 1250/m?
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      02-21-2024, 08:50 AM   #6
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Quote:
Originally Posted by AndreasM View Post
Ok, so from all the responses right know it seems that it’s better to lease a new one.

Do you guys think that in todays market I should be able to get an m5/ m8 with max 1250/m?
lol. No.

https://www.calculator.net/auto-loan...autoloanresult

https://www.truecar.com/bmw/m5/lease/

https://www.bmwusa.com/special-offer....socalbmw.html

https://www.crevierbmw.com/new-bmw-m...-santa-ana-ca/

https://www.edmunds.com/bmw-m8-lease...os-angeles-ca/

https://www.bmwusa.com/special-offer....socalbmw.html
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      02-21-2024, 09:52 AM   #7
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Quote:
Originally Posted by AndreasM View Post
Ok, so from all the responses right know it seems that itís better to lease a new one.

Do you guys think that in todays market I should be able to get an m5/ m8 with max 1250/m?
You could get an M340i
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      02-21-2024, 09:54 AM   #8
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The only idiot I ever knew who leased a used car was my BIL.
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      02-21-2024, 03:15 PM   #9
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Quote:
Originally Posted by DocL View Post
The only idiot I ever knew who leased a used car was my BIL.
Details please.
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      02-21-2024, 05:22 PM   #10
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It had never even crossed my mind you could lease a used car.
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      02-21-2024, 05:42 PM   #11
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Great idea. What's the lease on that Benz?
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      02-22-2024, 05:59 AM   #12
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Quote:
Originally Posted by NickyC View Post
It had never even crossed my mind you could lease a used car.
Crazy right? This is America though, you can lease wheels FFS.
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      02-22-2024, 07:26 AM   #13
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Quote:
Originally Posted by Westside Guy View Post
Details please.
About the idiot or the lease?
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      02-22-2024, 08:03 AM   #14
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Out of college I decided I was going to lease a G35, my father and I went to look one Saturday morning. We passed Freehold BMW, we pulled in. They were leasing a loaner 335i e90 for 330 a month with 2.5k down lol. It had a sticker on the front windshield. The car had a few bumps and bruises, but I couldn't pass it up. I wanted to lease it again bc i loved the car but no bueno they wanted like 700 a month lol. I leased a new e92 335i for 596 a month with a 10k higher MSRP. Now i buy my M cars used. I put down half and finance the rest, im paying 550 a month for this F90. I put down around 35k i think, somewhere around there.

Last edited by S EyeLand; 02-22-2024 at 11:00 AM..
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      02-22-2024, 09:54 AM   #15
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Quote:
Originally Posted by DocL View Post
About the idiot or the lease?
Two separate issues.

Information on the lease would probably be more interesting.
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      02-22-2024, 12:22 PM   #16
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Quote:
Originally Posted by Westside Guy View Post
Two separate issues.

Information on the lease would probably be more interesting.
I can't recall the specifics of the lease because it was 15yrs ago. But I do know he said he didn't realize how much of a rip off it was. It was for a MB E300 Conv.
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      02-22-2024, 01:20 PM   #17
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Quote:
Originally Posted by DocL View Post
I can't recall the specifics of the lease because it was 15yrs ago. But I do know he said he didn't realize how much of a rip off it was. It was for a MB E300 Conv.
Salesmen love customers like that!
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      02-22-2024, 07:13 PM   #18
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Other than one owning a company or for tax purposes for example making such purchase to throw you under certain tax bracket to pay less in taxes or having too much money to burn I am still trying to figure out how would leasing benefit me as consumer. My wife is working at the dealership and we sometimes could get really tempting deal but with my math leasing simply doesnít make sense. Fee at lease end is also there for a reason. Simply to discourage you from switching brands.
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      02-22-2024, 09:12 PM   #19
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Quote:
Originally Posted by Rafichicago View Post
Other than one owning a company or for tax purposes for example making such purchase to throw you under certain tax bracket to pay less in taxes or having too much money to burn I am still trying to figure out how would leasing benefit me as consumer. My wife is working at the dealership and we sometimes could get really tempting deal but with my math leasing simply doesnít make sense. Fee at lease end is also there for a reason. Simply to discourage you from switching brands.
It depends on your zip code as well. the metro detroit area (pre covid) had screaming lease deals. I realize this is not a BMW but leasing a decently optioned Ram 1500 for 150-200 a month with little to no down is common. As was for the chrysler 300, friend had one that stickered for mid 50's and had a zero down 198 a month payment.
Heck back when dakotas were still being made you could get one for 50 a month!
Ford would have a slightly higher lease but they also had lower origination fees.
At one point the maserati store was offering zero down 480 a month on a ghibli.

To answer the OP's question on used car leases, Unless the rates and residual are phenomenal it is generally a bad idea. Back in the day when new mustangs were leasing out for 400ish a 24 month lease turn in could be "re leased" as used for about 200 a month. Generally speaking if you get a good lease deal the aim is to pay less than the depreciation in that same timeframe you would have owned the car for.
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      02-22-2024, 09:21 PM   #20
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Quote:
Originally Posted by LouK View Post
It depends on your zip code as well. the metro detroit area (pre covid) had screaming lease deals. I realize this is not a BMW but leasing a decently optioned Ram 1500 for 150-200 a month with little to no down is common. As was for the chrysler 300, friend had one that stickered for mid 50's and had a zero down 198 a month payment.
Heck back when dakotas were still being made you could get one for 50 a month!
Ford would have a slightly higher lease but they also had lower origination fees.
At one point the maserati store was offering zero down 480 a month on a ghibli.

To answer the OP's question on used car leases, Unless the rates and residual are phenomenal it is generally a bad idea. Back in the day when new mustangs were leasing out for 400ish a 24 month lease turn in could be "re leased" as used for about 200 a month. Generally speaking if you get a good lease deal the aim is to pay less than the depreciation in that same timeframe you would have owned the car for.
I agree that in few rare instances that could make sense but from what we see in general leases were used as a way to get in a car one otherwise wouldnít be able to afford because of lower payment. Leasing a used vehicle makes even less sense however with depreciation you actually bet with the market what will said vehicle be worth in the future. Some electric vehicles can be had for decent money currently once you factor in money you wouldíve spent anyway in fuel but thatís also on case by case basis.
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      02-22-2024, 10:15 PM   #21
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Quote:
Originally Posted by Rafichicago View Post
I agree that in few rare instances that could make sense but from what we see in general leases were used as a way to get in a car one otherwise wouldnít be able to afford because of lower payment. Leasing a used vehicle makes even less sense however with depreciation you actually bet with the market what will said vehicle be worth in the future. Some electric vehicles can be had for decent money currently once you factor in money you wouldíve spent anyway in fuel but thatís also on case by case basis.
It wasn't rare when it was commonplace for 20 years, and now that supply is coming back the lease rebates are slowly coming back.
On the contrary about getting a vehicle you wouldnt otherwise be able to afford, you had to have top tier credit in order to qualify for the advertised lease deals. generally speaking it was harder to qualify for the lease than regular loan. This was because if you had bad credit it pushed you out of the advertised rates and your payment quickly went higher than a normal 60 or 72 month buy. Leasing new or used you are betting what the vehicle will be worth, that is the "residual" rate of the lease.
Always find it funny when a person trades in a paid off car to get a 30-50K electric car because it will save money on fuel. even at 30K thats well over 200K miles with current gas prices

Lets be real with ourselves though, if we really cared about saving a couple bucks on a lease or buy and doing the most financially sensible thing we would not be driving BMW's!
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      02-23-2024, 11:31 AM   #22
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Quote:
Originally Posted by LouK View Post
It wasn't rare when it was commonplace for 20 years, and now that supply is coming back the lease rebates are slowly coming back.
On the contrary about getting a vehicle you wouldnt otherwise be able to afford, you had to have top tier credit in order to qualify for the advertised lease deals. generally speaking it was harder to qualify for the lease than regular loan. This was because if you had bad credit it pushed you out of the advertised rates and your payment quickly went higher than a normal 60 or 72 month buy. Leasing new or used you are betting what the vehicle will be worth, that is the "residual" rate of the lease.
Always find it funny when a person trades in a paid off car to get a 30-50K electric car because it will save money on fuel. even at 30K thats well over 200K miles with current gas prices

Lets be real with ourselves though, if we really cared about saving a couple bucks on a lease or buy and doing the most financially sensible thing we would not be driving BMW's!
Agree with all that. However being in the business Iíll tell you a little secret. Itís all to keep you on the hook for your next car in 3 years. Look at it as subscription based service in which you donít own anything just pay for usage/depreciation. Suitable for some. Majority is concerned with one and only thing. Monthly payment. Thatís the reality. There will be more deals since it all has to come back to normal after all. I am in un?lucky position that I can get electric MB for $250 a month. Since I spend roughly $200 a month in just fuel and would hardly do any maintenance it makes sense. However I would never do four digit lease or buy brand new car again. Unless an exotic.
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