I'm working with local dealership on getting a 2021 M5 Competition. I'll be leasing the vehicle as it makes the most sense for my situation. I had a whole situation with this dealership with a previous car, and they are allowing me out of it (you can read about the situation here
https://f90.bimmerpost.com/forums/sh....php?t=1753264). This will be my first lease ever and I want to see if getting this car is worth it or if I'm getting BS'd)
36 months/12,000 miles yearly
- 2021 M5 Competition New
- MSRP $124,045
- Selling Price: $115,745 (this is the lowest they can go, so they say) - 6.7% off MSRP
- Additional Rebates: $1,750
- Net Price: $113,995
- Down payment: $0
(My 2018 M5 they are taking in as trade had about $4,890 in additional options like GAP, extended coverage, and BMW maintenance package. They are reimbursing this to me/themselves and counting as down payment. The 2018 I financed with them 4 weeks ago and they are taking it back as a trade in due to some problems we discovered. They are paying the car off and taking the reimbursement of the additional options as down payment. I have yet to have 1 payment on the 2018 so not sure how that's all going to work out. They will also be paying the sales tax on the 2018 as I didn't have that part financed like the additional options. They are paying off the whole amount of the loan.)
- Security Deposit: $0
- MF: 0.00099 (APR 2.38%)
- Acquisition Fee: I believe this is $925. I forgot to write down this amount but I believe they said $925.
- Dealership Doc Fee: $199
- State Fees: about $350-$400
(I'm debating if I should register this in Missouri or Illinois as our business has locations in both states. So this may change depending on what makes more sense.
Sales Tax: 6.6% if I go with Illinois, 8.75% if I go with Missouri)
- Monthly Payment: Missouri Option $1,536.61, Illinois Option $1,530.58
Details on the car (according to build sheet they gave me)
2021 M5 Competition $103,500
Black Sapphire Metallic - $0
- Silverstone Full Merino Leather $3,500
- Competition Package $7,600
- Driving Assistance Plus Package $1,700
- Executive Package (no sunroof though, carbon fiber roof instead) $3,350
- Bowers & Wilkins Sound System $3,400
Whole Sale total: $114,740
MSRP $123,050
I've attached the summary I got from the dealership for both the Illinois and Missouri option. I feel like it's not a bad deal but at same time I don't know. To top it off, I don't really understand leasing. If someone has some time to review this that would be great!
EDIT:
Just noticed you can't really see the documents I uploaded on here, so here is are Google Drive links:
Missouri Option:
https://drive.google.com/file/d/1--0...w?usp=drivesdk
Illinois Option:
https://drive.google.com/file/d/1-C7...w?usp=drivesdk