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05-23-2013, 04:19 PM | #1 |
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Leasing 2013 E92 with plan on getting out in 2 years - good plan?
I plan on getting new F80 M3 but my current 330ci is pretty old (2001 with 154K miles on it) and I am trying to decide between two options.
1. Drive current car and pick up M3 next year. Not sure when that would be possible since release date and allocations are not known - but say 12-18 months from now. 2. Lease new E92 M3 and either drive it for full lease duration - 3 years - or try to have someone take over the lease and get new M3 for its 2nd year of production (leaving first year glitches behind). There is a space grey 2013 E92 coming to my local dealer that I can get at a very very good price (essentially $1K below invoice after all rebates). The lease payments would be $767 or $717 with MSDs on $70K MSRP car. The car has DCT, leather, comfort access, parking sensor, EDC, heated seats, carbon fiber roof. Space Grey on Black. Note that it does NOT have Navigation or power seats. My question - would it be difficult to find someone to take over lease in two years (especially in light of lack of navigation and power seats)? And, if I am thinking that direction, should I go with MSD or without? Seems like a lot of people may balk at putting up $5K upfront even though it would be $600/year savings = 12% return. Appreciate your thoughts Aleks |
05-23-2013, 04:32 PM | #2 |
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a more important question, to me IMO, is why would you want the first generation of any car....especially the next M3 and new M4?
you're going to face premium mark ups on price ( more on the M4 that M3) and you're more than likely going to have to deal with first gen mechanical issues as well. i say stick with your E92 until lease end and get an 2nd or 3rd gen M3 when they come out. |
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05-23-2013, 04:36 PM | #3 | |
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We see it from cars to firearms... |
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05-23-2013, 04:38 PM | #4 |
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I would agree with that. I have the first gen 135i in 2008 and went through 3 HPFP. It was in the shop so many times, that I ended up having BMW buy out my lease. I took a chance on the N55 because I still loved the car. Luckily, my 2011 hasn't given me any issues.
How much are you putting down? I'm put $5k down for a $734 per month payment and it's fully loaded (6MT).
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05-23-2013, 04:41 PM | #5 |
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you're absolutely right...while i know that, i was hoping that i could get the OP, or anyone in the same situation, to reconsider.
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05-23-2013, 04:46 PM | #7 | |
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The other issue we see is the first run cars going for premium and sometimes 10-20% over retail and folks still buy them. lol But I guess for some being the first is a high priority. I am that way with firearms. I always like the latest and greatest and have been through some first run lemons and repairs, but hey, I had it the week it was out or whatever. lol Some I have waited and for good reason. Bump... I say lease the new M3 and do 3 years. |
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05-23-2013, 05:07 PM | #8 |
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Lease it for 3 years
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05-23-2013, 05:09 PM | #9 |
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Have you ever had a E9X M3? You might end up buying out the lease it's that good...
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05-23-2013, 05:26 PM | #10 | |
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05-23-2013, 05:46 PM | #11 |
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Can I suggest an alternative?
PenFed is offering 60 month saver financing at 1.74%. Finance 65k and you'll pay $705.94 a month with a balloon of 28,005.94. After two years you will owe about 50k and you can sell or trade in on new M4
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05-23-2013, 05:59 PM | #12 |
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Couldn't agree more with this post. Getting out of a lease early is never a good idea and buying almost always gives you more flexibility (as long as you're not selling the car after 12 months). Here's something else to think about....why not see if you can find the car you want rather than settle for what your local dealer has in stock? You'll love the V8 but if you want power seats then reach out to some of the dealers on this forum (Steve Thomas BMW comes to mind or David Avila is a salesman in MD that sells lots of M3's) and see what they have or what they can find for you. Good luck.
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05-23-2013, 06:00 PM | #13 | |
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Thank you for the suggestion. Here in CA taxes really bite when doing something as you are suggesting. Besides there is $1,500 BMW rebate if leased through them. So most if not all potential savings would be eaten away by tax paid and loss of rebate. And I would loose repurchase price protection offered by lease. |
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05-23-2013, 06:11 PM | #14 |
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I would go with option 1 if you really want to get the new M3 in 12-18 months. 154k miles isn't really that much. Instead of making payments on a temporary vehicle and paying increased insurance premiums and fuel costs, save that money to put down on your F8x M3.
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05-23-2013, 07:13 PM | #15 |
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I would lease it. If you can, I would buy it and then trade it in on an M3/M4 after 2-3 (2016-2017?) years of production.
I am going to wait until the competition package is released before I make a decision to sell my current E92 M3. I would't jump at the first model year. Updates are usually quick to come in year two (see F10 M5). |
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05-23-2013, 07:23 PM | #16 | |
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05-23-2013, 07:33 PM | #17 | |
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Are you saying that in Texas you pay sales tax on entire price of the car even if you lease it? That would be annoying... |
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05-23-2013, 07:37 PM | #18 | |
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05-23-2013, 08:06 PM | #20 |
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I think the answer to your question depends a great deal on how well received the new M turbo models are. If people are loving them then its going to be hard to get out of the lease. If people pine for the good old days of high reving NA M motors then even without the Nav and Pwr seats it may not be a problem. I would just get the 3 year lease. At the end of the 2nd year, test the market, if you cant get out of the lease on terms you like - its only another year to the end of the lease. By then the new cars should be well sorted.
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05-23-2013, 09:11 PM | #21 | |
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Its going to redefine the M with are great already. |
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05-23-2013, 09:31 PM | #22 |
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Why not a 24 month lease? I'm sure this would cost more, but at least you'd be guaranteed to get rid of the car in 2 years. Doing a lease transfer is a huge hassle and can take a long time to go through. You need a perfect buyer and also what about your MSDs? Who's going to want to bail out your MSDs on a car for only 1 year? That's ridiculous. Are you going to keep your deposit in BMW's hands until lease is up?
I did a lease takeover from someone who had to get out 21 months early and it took about a month to make happen. If it wasn't a fantastic deal for me, there is no way I would have gone through the process. It was a total PITA. Just lease for 24 months or 36 and stick it out. |
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