Automotive

BMW questions and answers

Deal Addict
Jul 21, 2009
1676 posts
1424 upvotes
Toronto
Micelli_Illuminatti wrote: Peeps, interested in leasing this 2019 M850i, sold used with 2,300 km, being offered by BMW Newmarket: https://www.autotrader.ca/a/bmw/8%20ser ... s&sprx=100

For a 24-month lease, 18,000 km per year, with $10K down, what am I looking at in terms of OTR monthly payments and residual at end of lease? What's the best that I can negotiate? If I up the down payment to $20K, would that make a difference? I don't lease as often. Thanks for any input.

M
That crystal shifter is the tackiest looking thing ever... i want one :D
Jr. Member
Sep 21, 2015
154 posts
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Mississauga, ON
Thoughts on the GT over the GC? My dream car is an M4, love the look but I currently own a coupe and while I don't need the space I miss the hatchback and not having to swoop down to get in everytime. The GC seems like a good compromise as it has the 4 series coupe looks I like but it from what I seen in person might be to small for my 6"4 self. I'm interested in the GT because its more loaded panoroof/x3 capacity/more room/sit higher at the cost of driving manners but seems way more hated, personally I don't see much difference on the 2016's side by side and when asked around only one person thought they looked different.
Newbie
Nov 20, 2012
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BRAMPTON
Hello, Is anybody know any good lease deal on BMW 3 series or X5 or X3
Member
Aug 4, 2005
338 posts
142 upvotes
I leased a BMW in 2014-15. Just curious if I would be eligible for the 2% loyalty incentive currently offered by BMW?

Thanks
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Jul 20, 2016
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anyone here have experience with or currently own a X3M / X4M and can share some views/comments? Performance reviews all seem quite outstanding and pricing in Canada undercuts GLC63S by quite a bit.... Can only Imagine what the G80/82 will be like!
Member
Jun 7, 2010
317 posts
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owu23 wrote: I leased a BMW in 2014-15. Just curious if I would be eligible for the 2% loyalty incentive currently offered by BMW?

Thanks
You need to be a current lessee, so you won't qualify for the 2% loyalty incentive.
Member
Jun 7, 2010
317 posts
97 upvotes
imjesseb wrote: Hello, Is anybody know any good lease deal on BMW 3 series or X5 or X3
As per the the experts here, I got a great deal on a X5.

$0 down with $1075 lease payment (taxes included) for 48 months for 80k KM. Also, before the new loyalty incentive and factory incentive was applied it was around $1175-1180.

X5 has M sport, Driver Assist, Enhanced + tow hitch. Note that this was a vehicle that was on the lot and I was told that I could not get the same discount, if were to build the car online and lease it via the dealer.

Best of luck!
Deal Addict
Aug 13, 2008
3401 posts
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Mississauga
if i'm buying a 3 series in quebec, that is certified pre-owned from BMW, am I looking at the finance rates based off this page?
https://www.bmw.ca/en/topics/details/pr ... nding.html

it shows just one rate, regardless of whether you get extended warranty or not....
but the dealership is telling me if i don't get the extended warranty, the rate is higher that those posted rates.....

can someone clarify?
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Jul 30, 2007
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typical dealer will also have alternative financing they can get you too. Therefore, it can be higher or lower than the bmw rates.
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Aug 17, 2009
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Micelli_Illuminatti wrote: Peeps, interested in leasing this 2019 M850i, sold used with 2,300 km, being offered by BMW Newmarket: https://www.autotrader.ca/a/bmw/8%20ser ... s&sprx=100

For a 24-month lease, 18,000 km per year, with $10K down, what am I looking at in terms of OTR monthly payments and residual at end of lease? What's the best that I can negotiate? If I up the down payment to $20K, would that make a difference? I don't lease as often. Thanks for any input.

M

Bump. @booblehead where you at?

Reason for the large down payment is potential purchase at the end of lease, but if it makes no sense, then I can decrease DP to zero. Haven't leased in a while ...
Corvus oculum corvi non eruit.
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If the interest rate is pretty low (say 3% or less), it makes absolutely little sense to put a big/sizable down payment on a lease. You would rather have this $ invested as it is a bit wiser perhaps. Also, if the leased vehicle is written off, you may recover only a fraction of the big down payment made after the insurance settled it with BMWFS.

If the interest rate is high, then you may want to do a moderate downpayment (if you really want to) to save some interest cost. In my view, no more than $5K (+ taxes) of down.

based on the listing price of $124,500. It does not sound like a big discount & depreciation have been reflected. Given dealers in US don't even want this 8 series on their lots, one should look for a huge discount for this. Suppose it has $10,000 in options in this used car, I would say fair value now should be around $100k + taxes.


https://www.bmwgallery.ca/en/new-invent ... -id6236097

example. This one is brand new and it's listed with discount of around 14% off ($18,000) before any negotiation starts. That used one in Newmarket would have depreciated at least another 10% IMO.


https://www.serpaautomotiveboutique.com ... gJbhvD_BwE

This would be something more of less in line to my thinking, pricing point of view.
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Jul 5, 2011
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booblehead wrote: If the interest rate is pretty low (say 3% or less), it makes absolutely little sense to put a big/sizable down payment on a lease. You would rather have this $ invested as it is a bit wiser perhaps. Also, if the leased vehicle is written off, you may recover only a fraction of the big down payment made after the insurance settled it with BMWFS.

If the interest rate is high, then you may want to do a moderate downpayment (if you really want to) to save some interest cost. In my view, no more than $5K (+ taxes) of down.

based on the listing price of $124,500. It does not sound like a big discount & depreciation have been reflected. Given dealers in US don't even want this 8 series on their lots, one should look for a huge discount for this. Suppose it has $10,000 in options in this used car, I would say fair value now should be around $100k + taxes.


https://www.bmwgallery.ca/en/new-invent ... -id6236097

example. This one is brand new and it's listed with discount of around 14% off ($18,000) before any negotiation starts. That used one in Newmarket would have depreciated at least another 10% IMO.


https://www.serpaautomotiveboutique.com ... gJbhvD_BwE

This would be something more of less in line to my thinking, pricing point of view.
Bolded the nasty part about cash down into a lease. I've seen it so many times where people insist on putting cash down, they write off their lease not too long after taking the vehicle, and poof they've lost anywhere from 20-100% of their cash down.

Explanation for anyone wondering:

The lease will come with GAP protection included - meaning that if your vehicle is a total loss or stolen, and the insurance settlement is less than the current payoff, you will not be responsible for the difference.

Ie. Settlement is $40k, current payoff is $50k = net difference of $10k.

On a finance you would be responsible for the difference unless you had GAP as a protection you paid for.

Let's say you put $5k cash down in this case - the payoff would be roughly $45k (taxes, interest etc, aside). The settlement wouldn't change, so now you've only got $5k as negative equity which would be covered by your GAP. In this example, even if you put $15k down you would only get $5k back.

My advice would be that if you are intent on putting cash down into a lease, do one of these options:

1. Put the money into Multiple Security Deposits instead. These will lower the interest rate, you will get the money back at the end of your lease, and the full amount of the funds is protected in the case of total loss, theft, etc.

2. If you do put cash, MAKE SURE you have full replacement coverage on your insurance policy. If the vehicle is a total loss or stolen you will get a settlement intended to pay for a new equivalent vehicle, and the difference will include your cash down that you injected into the lease. ie. Payoff is $50k, new vehicle is $55k, settlement is $55k and you would have $5k equity which would be your cash down.
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Aug 17, 2009
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Thank you, guys. Especially for bringing me up to speed on down payment v. lease. Much appreciated. Also, great to know that dealership's price is 25% more than other neighboring ones. I'm sure it will help with negotiations ;)
Corvus oculum corvi non eruit.
Jr. Member
Dec 5, 2016
173 posts
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Hey Jester,

Would you happen to know the May incentives for a 2020 X6 40i/M50i? Looking to lease one but not too much information out there at the moment.

Thanks bud.
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Jul 5, 2011
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stolenfire wrote: Hey Jester,

Would you happen to know the May incentives for a 2020 X6 40i/M50i? Looking to lease one but not too much information out there at the moment.

Thanks bud.
Just the 2% loyalty or the enhanced loyalty credit ($4000).
2013 Wins - $1320 - Woohoo!
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Jul 30, 2007
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Get a x5. $2400 factory credit + whatever you can get off from dealer.
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May 12, 2020
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hello booblehead, maybe I know you from bmw forum I recall seeing bobblehead back then if not, Hi. I used to drive 2013 m5 in North York area.

I am trying to trade in my car amd my wife's car valued at 35k. And wanting to go for 2019 x5 with 85% fully loaded options.

The car was listed for 75k and got reduced to 68k. Including 35k trade in. What aould be the reasonable additional cash value? They asked 38500. I also want to know how pst works for a used car from a dealership. The car was staff leased for an year and has about 16k.

Excited to hear your opinion!
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johnmik wrote: hello booblehead, maybe I know you from bmw forum I recall seeing bobblehead back then if not, Hi. I used to drive 2013 m5 in North York area.

I am trying to trade in my car amd my wife's car valued at 35k. And wanting to go for 2019 x5 with 85% fully loaded options.

The car was listed for 75k and got reduced to 68k. Including 35k trade in. What aould be the reasonable additional cash value? They asked 38500. I also want to know how pst works for a used car from a dealership. The car was staff leased for an year and has about 16k.

Excited to hear your opinion!
yes. I do know you back then. I recalled you had a bad accident with your M5 then (up at Yonge & Steele)

what do mean the additional cash value ?

For a trade in .... If you are trading in the M5, I would say wholesale would be around $25 - 27K range. + your wife car which I don't know what it is. The market for the F10 M5 of your model year is likely around upper $30K retail.

$68K X5 - $35K trade in (for both cars) = $33k + taxes (based on $33K) = $37.3K + license.
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same rate as far as I know or dealer can source out their banking/financing contacts outside of BMWFS

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