[stein_325i]

Originally Posted by LuvMyE92

A dealer not too far from me has a leftover 2019 M850i convertible with no options, about a 123 MSRP, that I can have for $93,500 plus tax, etc. I'd likely lease it, since the depreciation on these things is massive, which would put me at around $1000 a month. Which is a lot of money, but not a bad deal for a car of this caliber. I'm trying to beat them down even more, but it's unlikely.

Problem is, I already have a perfectly good car (2019 540i) which is worth so little that there's no point in trading it in (it's a lease). And the wife likes the 850i but not enough to let it come out of her car budget. So I'll be paying for it. It will be a spare toy, for nice days, weekend drives, etc.

It's a great car - I borrowed one for a weekend, and really the only thing I didn't care for was the brakes, when coming to a stop, it's a little hard to make it smooth. I grew up with convertibles, and haven't had one for several years now.

So those of you who have, or had, the 8 convertible, help me out. Is it worth it, or should I just move on and buy something more affordable?

And yes, life is short. That's kind of my motto, especially now with this virus thing going around.

Are you keeping the 5-series? If you aren't I say go for it, however, if you are keeping the 5er, I say check out some other smaller and more fun to drive cars. The 8 is a lovely car, and no 8-series owner is going to talk you out of one, but if it is a spare/weekend car, I say go all in and find a fun and nimble sports car. If your looking for a fun vert, a Z4 or Boxster, or even a Miata are also great choices.

[LuvMyE92]

Wow. Lots of great replies, thanks everyone.

The dealer that had quoted me 93+ is now quoting me 95, so that ticked me off.

I did more Internet searching on Sunday, and found just a crapload of used coupes for sale. They also get hammered in resale.

I think the advice to wait is spot-on. I'm in no hurry.

As for advice to get something more sporty, that was where I started. This would be replacing the M2, which is very sporty and fun to drive. The 8 was kind of a recognition that I'm getting older, and it is difficult and annoying to get into low sports cars with stiff suspensions and an uncomfortable ride. I've BTDT with those things.

And it looks like I'll be working from home for yet another month, which means I only drive to the grocery store (about 2 miles away) since my gym is closed. Kind of hard to justify any car, much less an expensive spare one, at this point.

Thanks again everyone.

[LuvMyE92]

Originally Posted by redhot47fla

P.S. Can you share the specs? Colors, etc? Are you sure it doesn't have any options? Nearly all of them are specced with some extras.

The car is here. I am sure, no options.

Originally Posted by Ehloo

But he is not buying. He wants to lease. But I am
Not sure you can even lease a 2019 this late into 20 anymore. I remember April being the cutoff

I would buy if it made sense, but these things depreciate so badly, a lease protects me from further (unexpected) pain. If it works out, I can always buy out the lease. But I'm fickle, and tend to trade cars often. The dealer claims that May is the last month I can lease the 2019. But then, they also said that their price (Saturday) was the best that they can do, and I know they already did better than that in April. A car salesman lying to me?

Originally Posted by TomM6

You would be buying what is in essence a new $130K car for $80k and 0%...

I couldn't find anything (except for coupes) that cheap. The sold one that you listed was $85K.

[LuvMyE92]

Originally Posted by fbuzila

I have a M850i ($135k MSRP) and it's a great car.
So great that now I want a M8 🤣

If you are interested to take over the lease here are the details:

I did look at it, and it's tempting but over my budget.

I drove the M8 last week. OMG.

[Resjudicata]

Originally Posted by LuvMyE92

Wow. Lots of great replies, thanks everyone.

The dealer that had quoted me 93+ is now quoting me 95, so that ticked me off.

I did more Internet searching on Sunday, and found just a crapload of used coupes for sale. They also get hammered in resale. Thanks again everyone.

in response, yes I've seen prices actually going up as States start to reopen and people are going back to work.

Prices bottomed out a couple weeks ago, but are now actually going up.

.

[LuvMyE92]

Well, as it turns out, it's a good thing I didn't make a deal on one, because the buyer of my M2 just backed-out (furloughed spouse). It would not have been prudent to have so many cars.

Yeah, yeah, I know, I should have waited until the car was actually gone, but I was sure that he was going to go through with it, and I thought perhaps that this would be the best time to buy.

Fate?

[Resjudicata]

Originally Posted by LuvMyE92

Well, as it turns out, it's a good thing I didn't make a deal on one, because the buyer of my M2 just backed-out (furloughed spouse). It would not have been prudent to have so many cars.

Yeah, yeah, I know, I should have waited until the car was actually gone, but I was sure that he was going to go through with it, and I thought perhaps that this would be the best time to buy.

Fate?

bad time to sell. good time to buy cars right now.

[LSM]

Wholesale on 2019 M850i vert is around 80k. I don't know how great a deal 93-95k is on a car that after 500 miles is worth 80k.

Maybe you can find similar lease payment on a 2020 when you residualize options it's not much more money per month and you get good options

[LuvMyE92]

Originally Posted by LSM

Wholesale on 2019 M850i vert is around 80k. I don't know how great a deal 93-95k is on a car that after 500 miles is worth 80k.

That's true for any new car. You buy a new $156K M8 and it's worth $100K next week when you change your mind and want to trade it in on a Ferrari.

Originally Posted by LSM

Maybe you can find similar lease payment on a 2020 when you residualize options it's not much more money per month and you get good options

I can't make that work. If I lease the leftover car, with $1000 down the lease is $1062/month (actual quote from the dealer). If I build a 2020 on the BMW web site and add driver's assistance and B&O, for an MSRP of 127, assuming a discount of $10K, the lease payment is $1584. Of course, BMW doesn't add in the dealer doc fees that we have to pay around here, and certainly could be negotiated further. And I don't know how much actual discount I could negotiate on a 2020. But it's certainly in the ballpark.

But that's a huge difference. So I'm not following your logic.

[Resjudicata]

Originally Posted by LuvMyE92

That's true for any new car. You buy a new $156K M8 and it's worth $100K next week when you change your mind and want to trade it in on a Ferrari.

I can't make that work. If I lease the leftover car, with $1000 down the lease is $1062/month (actual quote from the dealer). If I build a 2020 on the BMW web site and add driver's assistance and B&O, for an MSRP of 127, assuming a discount of $10K, the lease payment is $1584. Of course, BMW doesn't add in the dealer doc fees that we have to pay around here, and certainly could be negotiated further. And I don't know how much actual discount I could negotiate on a 2020. But it's certainly in the ballpark.

But that's a huge difference. So I'm not following your logic.

I think he meant buy a used 2020 instead of a 2019.

Also, interesting side note, for a while last month I was looking at a Ferrari and the dealership here offered full MSRP for my 2019 BMW M850i if I traded it for a new Ferrari with 15% off MSRP on the new one.

If my wife wasn't such a pain in the @&$ then I would have done the deal.

[LuvMyE92]

Originally Posted by Resjudicata

I think he meant buy a used 2020 instead of a 2019.

The depreciation (as you know so well) is brutal on these things, and leasing provides me some protection, or at least a floor, on that. It's difficult to lease a used car. But we don't really know what he meant exactly.

Also, interesting side note, for a while last month I was looking at a Ferrari and the dealership here offered full MSRP for my 2019 BMW M850i if I traded it for a new Ferrari with 15% off MSRP on the new one.

If my wife wasn't such a pain in the @&$ then I would have done the deal.

My wife is reasonable with my car habit, but we keep our funds separate for non-household purchases so that helps since it's "my" money.

Sounds like there's quite a margin on the Ferrari, no surprise.

Maybe if your wife can ride in the F without vomiting, that will help change her mind.

I could probably help you rationalize that trade, if you require assistance. I once rationalized a trade-in because the old car needed tires.

Or as that character from "The Big Chill" said, "Don't knock rationalization; where would we be without it? I don't know anyone who could get through the day without two or three juicy rationalizations."

[LSM]

Originally Posted by LuvMyE92

That's true for any new car. You buy a new $156K M8 and it's worth $100K next week when you change your mind and want to trade it in on a Ferrari.

I can't make that work. If I lease the leftover car, with $1000 down the lease is $1062/month (actual quote from the dealer). If I build a 2020 on the BMW web site and add driver's assistance and B&O, for an MSRP of 127, assuming a discount of $10K, the lease payment is $1584. Of course, BMW doesn't add in the dealer doc fees that we have to pay around here, and certainly could be negotiated further. And I don't know how much actual discount I could negotiate on a 2020. But it's certainly in the ballpark.

But that's a huge difference. So I'm not following your logic.

You can get a much larger discount than 10k bud. There's money available in incentives, lease specials, programs, hidden money the dealer gets etx

[LuvMyE92]

Originally Posted by LSM

You can get a much larger discount than 10k bud. There's money available in incentives, lease specials, programs, hidden money the dealer gets etx

Thanks bud. I guess what I'm confused about is that you say that I can get a newer car, with more options, for the same lease payment as last year's car with no options, and I'm just not understanding how that works. I can get the 2019 for $95K (actual selling price) and you think I could do better with a well optioned 2020? Yes, I'd love to do that, but I don't get how.

[Resjudicata]

Originally Posted by LuvMyE92

The depreciation (as you know so well) is brutal

Sounds like there's quite a margin on the Ferrari, no surprise.

Mns."

here's an article. looks like Ferrari uses 25% profit margins.

https://www.cnbc.com/2020/05/04/ferr...acebook%7Cmain

[LSM]

Originally Posted by LuvMyE92

Thanks bud. I guess what I'm confused about is that you say that I can get a newer car, with more options, for the same lease payment as last year's car with no options, and I'm just not understanding how that works. I can get the 2019 for $95K (actual selling price) and you think I could do better with a well optioned 2020? Yes, I'd love to do that, but I don't get how.

Discounts on 2020 are at least 25k and more and the residual is higher. I was simply saying to inquire about it.

Or my other point was simply buy a lightly used 2019 for cheap.

[LuvMyE92]

Originally Posted by LSM

Discounts on 2020 are at least 25k and more and the residual is higher. I was simply saying to inquire about it.

Or my other point was simply buy a lightly used 2019 for cheap.

Good point about the higher residual, but I can't tell where you're from ("USA" is kind of broad). Around these parts, dealers are awfully greedy, and it's really difficult to get an exceptional discount. 25K on a 2020, even a loaded M8, is unlikely.

Yes, I can buy remotely, I've done that before and it doesn't scare me. But I don't know where the best deals would be, and there are literally hundreds of dealers to go to, and of course, all the time required to negotiate since their "best price" initially, is never their best price.

But I'll run it by my local SA and see what kind of deal he can work on a 2020. Ya never know...

[LuvMyE92]

Originally Posted by LuvMyE92

But I'll run it by my local SA and see what kind of deal he can work on a 2020. Ya never know...

Bah! The three closest dealerships here have zero 2020 M850i in stock. A couple of 840i convertibles, but that's not what I want.

So, I guess cars (at least some cars) are still selling well, because I know I saw some no more than 2 weeks ago. Hence the difficulty in getting a good deal.

That's OK. I can wait.

[TomM6]

If you want to save money (why not?) you can look for the cars available from dealers throughout the US! They will ship and you can service it at your local dealer. I have purchased BMW at $8k less by buying away from my DC home. My M6 was purchased from BMW of Monterey in CA... there are quite a few in stock throughout the US. Good luck!

[RJC-1]

Originally Posted by TomM6

If you want to save money (why not?) you can look for the cars available from dealers throughout the US! They will ship and you can service it at your local dealer. I have purchased BMW at $8k less by buying away from my DC home. My M6 was purchased from BMW of Monterey in CA... there are quite a few in stock throughout the US. Good luck!

+1
cargurus or autotrader can display nationwide with some showing new '19's @ ~$30k off from the get go...

[LSM]

@LuvMyE92 there's a guy I saw on this forum supposed give incredible lease deals and handles everything. He's a sponsor. I have never dealt with him but some board members spoke of some pretty great deals. 20% off plus incentives. Next Level Auto Brokers is his username

As far as my locale, BMW's get them all from a dealer not in my state. He's my best friend so always gives me great deals. Porsche came from my Porsche contact ive had for years also not in same state as I am

[LuvMyE92]

The best latest price I got from one of my dealers on the leftover new 2019 M850i convertible, zero options, was $1000 down with a lease payment of $1066. 3 years, 7500 miles. I seem to recall a better offer from him last month, at $1022 nothing down, but they aren't honoring it, and I can't find the email. I strongly suspect that if I show up there pen in hand ready to sign, they'll drop that $1000. They're about 90 minutes from home.

Last night I got another offer from another dealer, this car has the driving assistant professional yada, yada, yada package and neck warmers (which I suspect would be nice, as I do enjoy driving with the top down regardless of the temperatures) for nothing down, same terms, $966 a month lease. First month's payment due at delivery, natch.

The problem with that last one, despite the awesome price, is that I was misled to believe that it was a new car. Apparently it was a service loaner. I think we all know how they are treated. I haven't heard back yet how many miles it has on it. My local dealer typically puts a few thousand miles on service loaners before putting them up for sale. Also, I don't get my BMW CCA rebate on a loaner, and I don't qualify for the incentive that BMW is offering to waive the first two payments. So the net result is that the difference over three years between the two cars is only a few hundred dollars, in favor of the loaner.

Curious am I to hear current owners' thoughts on these two deals. The additional options on the loaner are nice, but not necessary, i.e. I'm not willing to pay for them. Both cars are white, the expensive one has a black interior, the loaner has the brown "cognac" seats. I don't care for either, but leaning toward the lighter color.

I'm not in a hurry, and I'm waiting for the sale of my M2 to complete before doing it. Hopefully if not today then early next week. My first buyer had to backout, so I'm gun shy.

[redhot47fla]

At this point, I am thoroughly confused about what the various driver assistant packages had, have and still have. But if you'd be getting the entire suite, it probably would include 360-degree cameras, which conjure an overhead view that you'd soon become addicted to while parking.

Also, the neck warmers - though not particularly powerful - are nice to have.

And, strictly imo, white/cognac is a more attractive combo than white/black.

So, if your other concerns (loaner/mileage/condition) are satisfied, the options available through door No. 2 might make an affirmative difference.