[Diamond Skyline]

BIMMERPOST / Classifieds

Asking Price:

None

Item Interest

Lease Assumption or Option to Buy

2008 BMW E92 M3 Coupe 6MT
Jerez Black
Black Novillo
Aluminum Trim

Premium Package
Cold Weather Package
Navigation System
HD Radio

Original MSRP: $65,000
Negotiated Price: $60,000
Down Payment: $3,000 including first month & fees

Term: 36 Months
Annual Mileage: 15,000

Monthly Payment: $749.00

*Registered in NH therefore there is no Sales Tax applied to that payment

Term Start: November 1st, 2008
Current Mileage: 14,000
*BMW has a mileage purchase program which enables the owner to purchase miles at cost (same price at inception) before they return the car to avoid penalties or charges after the fact
*Currently the car is 2 months ahead on mileage

Money Factor: .0005 or approximately 1.20% (phenomenal rate for a lease)

As of Today (7/28) the pay-off to purchase the car straight up is $51,553.91

*The car is in immaculate condition and is being professionally detailed inside and out this Friday with 2 coats of Swissvax and the works


Aftermarket Accessories (Installed):

Painted Reflectors
Gloss Black Grills
GP Thunder 7500k Angel Eyes
Bimmian Interior LED (with Original & Spare LED Bulbs)

RPi Swoop Scoops
Macht Schnell Air Filter
AC Schnitzer Race Spec Exhaust
Supersprint X-Pipe with custom fabricated connecting pipes

Aftermarket Accessories (Uninstalled & Included in Sale):

AC Schnitzer Aluminum Pedals
Nokya 2500k Super Yellow Bulbs (Angel Eyes)
Stock Exhaust (Mint Condition)

*All Aftermarket Accessories are included with the exception of the AC Schnitzer Exhaust & Supersprint X-Pipe.. that will be an additional $1,000 (Original Price is $2,500)

*I’m definitely losing out on this deal but I simply cannot afford the car and pursue other business ventures at the same time, I am not looking for reimbursement for the Down Payment or Aftermarket Accessories (with the exception of the exhaust), simply that whomever does decide to purchase this car, they take care of it properly and show it the same respect I did.. she will be missed

*Serious buyers only.. there is not much else I can do to ‘sweeten’ the deal.. feel free to contact here or via PM

*This car has been garaged since day one

Pictures:

http://www.m3post.com/forums/showthread.php?t=270587

http://www.m3post.com/forums/showthread.php?t=231532

http://www.m3post.com/forums/showthread.php?t=188420


*Update

I spoke with BMW Financial to get more details and here is what I found:

There is a $500 Lease Transfer Fee
Sales Tax (depending on your state) will be applied on the remaining payments of the car (currently 26)

New Jersey, New York, Illinois, Ohio, & Texas are upfront states for tax therefore using a rate of 8% applied to the remaining payments, the total tax will be approximately $1,500 for the remainder of the lease.

So overall with the lease transfer fee of $500 and the estimated sales tax of $1,500 the buyer will pay $2,000 up front but will maintain the $749 a month lease rate.

For states not on an ‘up-front’ system, they will have their taxes spread out monthly, which equates to approximately $50 per month extra.

As far as buying the car straight up, BMW can only sell me the car legally as it is registered in my name, otherwise a dealership will need to be involved to complete the purchase.

Hope this information helps.

[UdubBadger]

god damn thats a sweet lease price on an M3

[Spool]

That is a sweet deal on a lease, i know people who've paid much more on a 335i LOL

[gonzo]

That is very strong!

Only 6 speed in 08' correct?

[Diamond Skyline]

'08 had both MT & M-DCT

thanks for the support

[dr.jay]

Fuck me this is a great deal, I wish it was DCT

[Diamond Skyline]

bump

[Nebster]

interested. need to see who wants to buy my car

[UdubBadger]

oh i know...

nobody.

[Diamond Skyline]

Originally Posted by UdubBadger

oh i know...

nobody.

three pending buyers

if anyone is serious now is the time to chime in

thanks!

[UdubBadger]

Originally Posted by Diamond Skyline

three pending buyers

if anyone is serious now is the time to chime in

thanks!

hahaha no I was talking to Nebster... nobody wants his car.

[Diamond Skyline]

Originally Posted by UdubBadger

hahaha no I was talking to Nebster... nobody wants his car.

lol i figured that.. i was just giving a general update.. my quote prob was the factor for confusion

[UdubBadger]

no worries

[stooken]

NOTE: the $500 transfer fee is actually a $100 application fee and $400 transfer fee. if the applicant doesn't get approved then the $400 is refunded but application fee is non-refundable.

[Diamond Skyline]

Originally Posted by stooken

NOTE: the $500 transfer fee is actually a $100 application fee and $400 transfer fee. if the applicant doesn't get approved then the $400 is refunded but application fee is non-refundable.

thanks for the clarification

i was not aware of that

[Diamond Skyline]

bump

[Diamond Skyline]

[T-MC-G]

oh man, I'm going to be back in the US and in NH for Halloween... If you still have the car then (which I doubt) I will be all over this!

Nice ride!!

[steve0617]

Unfortunately, that's not how IL works. They tax the value of the car at the time the lease occurs, not the payments. The state of IL defines all leases as purchases from the manufacturer to the leasing company. Thus, every car leased in the state is a NEW CAR PURCHASE and all sales taxes on the entire value is charged. The fact that the leasing company then creates their own deal to lease the car to you (and recoup the taxes they fronted) is not the state's problem.

If you swap a lease bringing in a formerly new car from outside IL and then register it in IL, they will expect the taxes on the entire value of the car's value at the time the registration is made. They'll want 7.25% on the entire current value. So, it's not 8% of the remaining payments, it's 7.25% of $51,553.91.

Or $3737.66 in taxes. And you can't put those in the payments remaining (if I understand the DMV correctly). You have to pay then entire amount at the time of registration directly to the IL Dept. of Revenue.

AND, this assumes you do not live in the City of Chicago. If you do, then they tax you ANOTHER 8%, but that is on the payment itself, not the value of the car like the state does.

If you swap a lease from an original IL registration to IL (assuming outside Chicago), then none of this matters. The payment would stay the same as the registration never changed states and no new transaction taxes were incurred.

And this is why it sucks ASS to lease as an IL resident.

[Diesel///M]

sick deal