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      02-26-2020, 03:03 PM   #1
xiljustin
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M8comp GC Lease Rates

Would love to hear what people are paying for these cars;

Was just quoted 2230$ 15k per year, $147,795 MSRP- $3250 down

Thoughts?
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      02-26-2020, 05:15 PM   #2
chador
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seem high. My M8 GC comp is on a boat right now off the coast of mexico, but i have no plans on paying anywhere near that. I did not pre-negotiate nor did I put any type of down payment. M8s are not selling well. In Los Angeles, all the main dealers have had the same number of M8s in stock for the past 6 weeks. I dont think this car is moving well.
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      02-27-2020, 02:48 PM   #3
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Only really three factors in your lease payment, money factor, residual and sales price. Residuals are set, get your money factor closer to buy rate and use security deposits to bring the money factor down. But your best way to drop the monthly is a heavy sales price discount.

Every 1000 in sales price is around 30 bucks in payments

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Originally Posted by xiljustin View Post
Would love to hear what people are paying for these cars;

Was just quoted 2230$ 15k per year, $147,795 MSRP- $3250 down

Thoughts?
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      02-27-2020, 05:02 PM   #4
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Originally Posted by chador View Post
seem high. My M8 GC comp is on a boat right now off the coast of mexico, but i have no plans on paying anywhere near that. I did not pre-negotiate nor did I put any type of down payment. M8s are not selling well. In Los Angeles, all the main dealers have had the same number of M8s in stock for the past 6 weeks. I dont think this car is moving well.
One can get a good discount on M8's to be sure. I personally don't oder a custom order without having an agreement on minimum discount first.

Reason is that the dealer has more leverage on those cars as buyers are eager for their new toy to arrive and the waiting game has been on their end.

No biggie but the question is if you will walk away if you can't get the discount.
Unless it's a crazy build, the car has cost the dealer no money yet unlike the stock cars sitting on the show room floor. Dealer knows you will otherwise have to wait again.

Good luck!
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      02-27-2020, 06:24 PM   #5
limeypride
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Quote:
Originally Posted by chador View Post
seem high. My M8 GC comp is on a boat right now off the coast of mexico, but i have no plans on paying anywhere near that. I did not pre-negotiate nor did I put any type of down payment. M8s are not selling well. In Los Angeles, all the main dealers have had the same number of M8s in stock for the past 6 weeks. I dont think this car is moving well.
I'm losing M8 Comp GCs left, right and center--I've lost 4 cars so far that I expressed interest in and was prepared to put a downpayment on... but they were already allocated.

My ideal build comes in around $160K and isn't that commonplace yet (I don't have the patience to build to order). Anyone got lease quotes on something like this?
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      02-27-2020, 06:42 PM   #6
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Quote:
Originally Posted by Wolfman64 View Post
One can get a good discount on M8's to be sure. I personally don't oder a custom order without having an agreement on minimum discount first.

Reason is that the dealer has more leverage on those cars as buyers are eager for their new toy to arrive and the waiting game has been on their end.

No biggie but the question is if you will walk away if you can't get the discount.
Unless it's a crazy build, the car has cost the dealer no money yet unlike the stock cars sitting on the show room floor. Dealer knows you will otherwise have to wait again.

Good luck!
Must always be prepared to walk away! My build is nothing special. Standard colors and options, no crazy carbon ceramic brakes. Well equipped, not fully loaded.
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      02-27-2020, 07:05 PM   #7
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Quote:
Originally Posted by chador View Post
Quote:
Originally Posted by Wolfman64 View Post
One can get a good discount on M8's to be sure. I personally don't oder a custom order without having an agreement on minimum discount first.

Reason is that the dealer has more leverage on those cars as buyers are eager for their new toy to arrive and the waiting game has been on their end.

No biggie but the question is if you will walk away if you can't get the discount.
Unless it's a crazy build, the car has cost the dealer no money yet unlike the stock cars sitting on the show room floor. Dealer knows you will otherwise have to wait again.

Good luck!
Must always be prepared to walk away! My build is nothing special. Standard colors and options, no crazy carbon ceramic brakes. Well equipped, not fully loaded.
Ummm, naaaaah—this isn't an investment or sensible choice, it's a luxury item so equip it as you see fit... that's my mental model. Of course, you're absolutely correct that this approach is likely in opposition of best deal but that doesn't mean you can't have your cake and eat it—just don't expect to be paying peanuts (I think I could've squeezed maybe 2 more mixed metaphors in there).

// EDIT: subjectively: I do agree on the CC brakes--too darned expensive to replace and of limited actual use (plus they're appalling when cold).

Last edited by limeypride; 02-27-2020 at 08:20 PM..
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      02-27-2020, 10:54 PM   #8
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Originally Posted by limeypride View Post
Ummm, naaaaah—this isn't an investment or sensible choice, it's a luxury item so equip it as you see fit... that's my mental model. Of course, you're absolutely correct that this approach is likely in opposition of best deal but that doesn't mean you can't have your cake and eat it—just don't expect to be paying peanuts (I think I could've squeezed maybe 2 more mixed metaphors in there).

// EDIT: subjectively: I do agree on the CC brakes--too darned expensive to replace and of limited actual use (plus they're appalling when cold).
Well, I don't think I did a good job of explaining myself. My point was that the car I ended up ordering is going to be a very common build. I did not do this for any specific reason, it just so happened to be the build I wanted. I am making the statement that my build for the GC is common based on current inventory in Los Angeles among dealers for the Coupe. Dravit Gray with Silverstone interior seems to be a very popular combination. I also ordered my car with no deposits or guarantees - my dealer knew my lease would be up and he had an allotment, so I threw in the order. If we can't come to terms on the car with him, I know every other dealer in town is going to have a near similar model in the inventory anyways. This car will be at the port in 5 days and my lease isn't even due until end of April - also something my dealer is aware of. So I have time to wait for other dealers to get their deliveries.

Additionally, I dont think this car is selling well. I don't know about other markets, but there are over 100 M8s within 15 miles of me. Some of the biggest dealers in town have listed the same inventory for weeks with no change. This car is expensive, its not moving well.
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      02-28-2020, 12:14 AM   #9
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Quote:
Originally Posted by chador View Post
Well, I don't think I did a good job of explaining myself. My point was that the car I ended up ordering is going to be a very common build. I did not do this for any specific reason, it just so happened to be the build I wanted. I am making the statement that my build for the GC is common based on current inventory in Los Angeles among dealers for the Coupe. Dravit Gray with Silverstone interior seems to be a very popular combination. I also ordered my car with no deposits or guarantees - my dealer knew my lease would be up and he had an allotment, so I threw in the order. If we can't come to terms on the car with him, I know every other dealer in town is going to have a near similar model in the inventory anyways. This car will be at the port in 5 days and my lease isn't even due until end of April - also something my dealer is aware of. So I have time to wait for other dealers to get their deliveries.

Additionally, I dont think this car is selling well. I don't know about other markets, but there are over 100 M8s within 15 miles of me. Some of the biggest dealers in town have listed the same inventory for weeks with no change. This car is expensive, its not moving well.
Got ya.

And, yes--M8s = 100s of them. M8 Comp GCs... not so much, not at all (20 or less on the ground, more inbound... but they're all white, black or dravit/brands hatch). And to your point: I lost interest in Dravit Gray when I found it everywhere so I figured let's go see it in-person... just OK... and I've never been a fan of Nardo which is what Brands Hatch looks like to me. So while I liked Dravit, I wasn't wowed like I was when I first saw Donington... so I went an entirely different direction that landed me with 3 cars on the ground--placed a deposit on one and finally got it (I think).
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      02-28-2020, 07:17 AM   #10
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LP, anticipatory congrats! Think you'll love it.
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      03-03-2020, 04:44 PM   #11
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LP, anticipatory congrats! Think you'll love it.
Thanks!

I'm losing my mind waiting--I'm not used to this.
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      03-05-2020, 07:34 PM   #12
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Originally Posted by Ehloo View Post
Only really three factors in your lease payment, money factor, residual and sales price. Residuals are set, get your money factor closer to buy rate and use security deposits to bring the money factor down. But your best way to drop the monthly is a heavy sales price discount.

Every 1000 in sales price is around 30 bucks in payments
Agreed as the only 3 factors. That said I just saw in a separate thread at least that OP was quoted a MF of .00142 which is way high IMO. Back in December I was quoted .00128 and lowered that to .00093 with MSDs. So something may be out of whack now with the MF or the .00142 was based on a poor FICO score.
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      03-05-2020, 08:41 PM   #13
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Originally Posted by bloozemanAZ View Post
Agreed as the only 3 factors. That said I just saw in a separate thread at least that OP was quoted a MF of .00142 which is way high IMO. Back in December I was quoted .00128 and lowered that to .00093 with MSDs. So something may be out of whack now with the MF or the .00142 was based on a poor FICO score.
0.00142 is BMW’s current base MF. Went from .00128 in Dec to .00137 in Jan to current in Feb.
I am pretty certain the MF will drop given the latest developments but so far no change.
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