09-19-2020, 07:32 PM | #1 |
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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 |
09-19-2020, 10:35 PM | #3 | |
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Ignore the writing next to some of the options. I was comparing another vehicle. https://drive.google.com/file/d/1-I-...w?usp=drivesdk |
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09-20-2020, 09:20 AM | #4 |
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Extra 1k gas guzzler tax is what is missing. What are the rebates you are getting to get the $1750? I thought you can only get loyalty for $750?
Last edited by dcwjd; 09-20-2020 at 10:28 AM.. |
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09-20-2020, 10:33 AM | #5 |
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Drives: 2021 M5C DG
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09-20-2020, 03:15 PM | #7 |
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There's a September loyalty for leases only. Hopefully by December there should be more incentives. Don't forget the bmw cca 1000$ rebate.
Also new owner track day at the bmw performance centers for all new bmw purchases in 2020! |
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09-20-2020, 07:09 PM | #8 |
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I know the $750 is loyalty credit, since they told me that. But I've asked a few times about the other $1000 and they haven't told me. What are your thoughts on what they are offering me, is it any good?
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09-20-2020, 07:16 PM | #9 |
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To qualify for the CCA rebate you have to be a member for at least 1 year or purchase a 3+ year membership to get the wait time reduced from 1 year to 6 months.
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09-22-2020, 06:12 PM | #10 | |
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Use this calculator. Your payment seems higher then it should be. |
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09-23-2020, 05:33 PM | #11 | ||
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09-26-2020, 04:39 PM | #13 |
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Not the best deal OP. As others have said 10% off + the incentives
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09-27-2020, 08:44 PM | #15 |
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This looks like a fair deal to me, others have done much better.
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09-27-2020, 10:06 PM | #16 |
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I haven't since I'm in a situation where I have to get a vehicle from this dealership, in order to get same money as trade for the 2018 M5 I got from them 2 months ago.
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09-27-2020, 10:08 PM | #17 |
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09-27-2020, 10:11 PM | #18 |
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After playing some more on leasehackr calculator, after I figured out the exact sales tax %, and fees associated with leasing. I'm thinking the deal isn't terrible. After all I can't seem to find any 2021 M5 Competitions with executive package and options for $113,995....
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