[Medal]

Hey guys,

I ordered the new g80 m3 very soon after it was made available, as I always wanted one and never had the chance; the stars just really aligned for me. It’s a 2021 and since I WFH, it has only 12k miles. Which is very low to me, anyways.

Fast forward, my young girls are now almost 5 and 3, and with car seats there just isn’t enough back seat space. The m5 also appears to have back-window shades for sun glare which the g80 doesn’t have, let alone the all-wheel drive (I live in NH) that wasn’t available when I ordered my 2021 m3.

That out of the way, I have about $45k in equity and owe about $28,500 on it. Looking at new M5 comps speced like I want and with interest rates these days, I just don’t want to pay ~$1600 a month when I pay $700 now. However, I see a lease would be about $569.74.

Would it be stupid to trade in my car for a 2023 m5 comp lease? I’ve had an x5 and just don’t want an suv so for space this is what I’m looking at.

All opinions welcomed.

Thanks!

[logicators]

All depends on your financial situation and whether you can justify spending that much on a car. You are asking this question on the M5 group and everyone here (myself included) will say that it’s totally worth it and M5 is in a whole other league, but only you can analyze and make a decision

Maybe look at a 20 or 21 CPO instead to soften the blow?

[ResIpsaLoquitur]

Originally Posted by Medal

Hey guys,

I ordered the new g80 m3 very soon after it was made available, as I always wanted one and never had the chance; the stars just really aligned for me. It’s a 2021 and since I WFH, it has only 12k miles. Which is very low to me, anyways.

Fast forward, my young girls are now almost 5 and 3, and with car seats there just isn’t enough back seat space. The m5 also appears to have back-window shades for sun glare which the g80 doesn’t have, let alone the all-wheel drive (I live in NH) that wasn’t available when I ordered my 2021 m3.

That out of the way, I have about $45k in equity and owe about $28,500 on it. Looking at new M5 comps speced like I want and with interest rates these days, I just don’t want to pay ~$1600 a month when I pay $700 now. However, I see a lease would be about $569.74.

Would it be stupid to trade in my car for a 2023 m5 comp lease? I’ve had an x5 and just don’t want an suv so for space this is what I’m looking at.

All opinions welcomed.

Thanks!

Agree with logicators 100%. You’re going to see a a lot of bias on this side of the house with regards to your question. The M3 would never be enough car for me personally. There are a couple of threads from a few months back that were revived in the last few days comparing the two. I will try to find them and post them here for you.

If you’re okay with the payment, I certainly don’t think you’d regret the car itself!

EDIT — Here’s one of them.

EDIT 2 — And here is the other one.

[Medal]

Originally Posted by logicators

All depends on your financial situation and whether you can justify spending that much on a car. You are asking this question on the M5 group and everyone here (myself included) will say that it’s totally worth it and M5 is in a whole other league, but only you can analyze and make a decision

Maybe look at a 20 or 21 CPO instead to soften the blow?

I didn’t say it but that’s exactly the other option I’m looking at; CPO/used that are 2019 LCI and newer

[logicators]

Originally Posted by Medal

I didn’t say it but that’s exactly the other option I’m looking at; CPO/used that are 2019 LCI and newer

The initial depriciation on M5 is quite large. Before I bought mine new, I almost bought a 21 CPO with close enough specs for 90K (20K miles) but walked away after the dealer tried bait and switch on the deal. Even with taxes it would have been almost been 50K lower than what I paid for new all in. I tend to keep my cars for a long time so it’s still worth it for me.

[micvite]

Originally Posted by Medal

I didn’t say it but that’s exactly the other option I’m looking at; CPO/used that are 2019 LCI and newer

Lci is 2021 just fyi

[Medal]

Originally Posted by micvite

Lci is 2021 just fyi

My understanding is there was one in 2019 too…which is why I see some 2019’s with the newer Idrive 7, and some with old gauges and Idrive 6.

Isn’t that correct?

[micvite]

Originally Posted by Medal

My understanding is there was one in 2019 too…which is why I see some 2019’s with the newer Idrive 7, and some with old gauges and Idrive 6.

Isn’t that correct?

No, 2020 got what's called idrive 7 lite, aka idrive 7 appearance with some less functionality and smaller idrive screen. Lci happened in 2021 and that's where you actually get benefits other than cosmetic gauge cluster differences. (Revised dampers, new look etc)

[Medal]

Originally Posted by micvite

No, 2020 got what's called idrive 7 lite, aka idrive 7 appearance with some less functionality and smaller idrive screen. Lci happened in 2021 and that's where you actually get benefits other than cosmetic gauge cluster differences. (Revised dampers, new look etc)

Got it thanks!

[SpeedyATL]

No dog in this fight and a bit late to the game, but what about an M550?

Also, how are you getting to a $569 lease pmt? Are you putting the entire equity of $45k in to buy down the payment? Please be careful with big down payments on leased cars.

Also, keep your potential sales tax credit/carryover in mind when going from ownership to ownership vs ownership to lease.

[jivom5]

Originally Posted by Medal

Hey guys,

I ordered the new g80 m3 very soon after it was made available, as I always wanted one and never had the chance; the stars just really aligned for me. It’s a 2021 and since I WFH, it has only 12k miles. Which is very low to me, anyways.

Fast forward, my young girls are now almost 5 and 3, and with car seats there just isn’t enough back seat space. The m5 also appears to have back-window shades for sun glare which the g80 doesn’t have, let alone the all-wheel drive (I live in NH) that wasn’t available when I ordered my 2021 m3.

That out of the way, I have about $45k in equity and owe about $28,500 on it. Looking at new M5 comps speced like I want and with interest rates these days, I just don’t want to pay ~$1600 a month when I pay $700 now. However, I see a lease would be about $569.74.

Would it be stupid to trade in my car for a 2023 m5 comp lease? I’ve had an x5 and just don’t want an suv so for space this is what I’m looking at.

All opinions welcomed.

Thanks!

the m5 is about 5-7 inches longer than the m3 which is a decent amount. in terms of overall space its definitely bigger + the awd is an added bonus i say go for it.

[pmsteinm]

I just got my M5. 2 forward facing car seats fit fine and I'm 6'2". Rear facing behind the driver might not work because every time you get out of the car it tilts the upper backrest back. That makes it tight for my youngest to get in and out and would hit a rear facing seat. This is apparently part of the easy exit feature but is not documented in the manaul anywhere.

[dcohen13]

I agree with others on the CPO. I picked up my 2019 M5 Comp in November. Paid $84,000 out the door and it had 27,XXX miles. Grabbed the 6 year unlimited mile warranty, and my payments are around $1400. I put down about $5,000.

[Medal]

Originally Posted by SpeedyATL

No dog in this fight and a bit late to the game, but what about an M550?

Also, how are you getting to a $569 lease pmt? Are you putting the entire equity of $45k in to buy down the payment? Please be careful with big down payments on leased cars.

Also, keep your potential sales tax credit/carryover in mind when going from ownership to ownership vs ownership to lease.

That’s correct, the entire 45k down towards the car…I’m new to leasing, but my thinking is to take advantage and buy the car at the end of lease. This would just make it more affordable for the first 3 years.

I haven’t done anything yet, just chewing on the advice here and elsewhere, so thanks for sharing your brain cells, and please keep the input coming, all is welcome.

[Pturbony]

I’m was in the same boat as you. I have a 5 and 3 year old and wanted the extra room and knew the kids will eventually destroy the car. I bought a 2019 Comp with 23k miles for 75k and love every minute of it (except the squeling brakes). It’s my daily driver so knowing that the depreciation has already been incorporated is relieving…

Just my 2 cents!

[logicators]

Originally Posted by Medal

That’s correct, the entire 45k down towards the car…I’m new to leasing, but my thinking is to take advantage and buy the car at the end of lease. This would just make it more affordable for the first 3 years.

I haven’t done anything yet, just chewing on the advice here and elsewhere, so thanks for sharing your brain cells, and please keep the input coming, all is welcome.

Why not finance it upfront then and transfer the equity to M5? Large down payments for leasing are discouraged because you will likely lose the whole amount if something happens to the car.

[Medal]

Originally Posted by logicators

Why not finance it upfront then and transfer the equity to M5? Large down payments for leasing are discouraged because you will likely lose the whole amount if something happens to the car.

I am trying to keep my payment at or below where I am now, around $700 a month, which means I can only lease or by CPO, and more than a couple of you are saying not to put such a chunk down on a new-lease, so I'll have to go the CPO route, which is fine by me. I appreciate all the advice/input!

[logicators]

Good luck! Post pictures soon

[Revan]

I would definitely not put 45k down on a lease. Double check this but if car gets totaled, finance company gets payoff not you.

I had a Genesis G80 that I was buying at lease end which was 3mo away and had already called and told them I am buying car. Buyout was $26,100. Kid hit my wife totaled car, under insured . My insurance paid out $43k to genesis and I didn't get a dime.

Then, they wanted almost $1100/mo on a lease for a new G80 after paying only $570 on the one that was totaled. I'm not paying that for a genesis so I ordered my M5 and couldn't be happier.

[Pturbony]

Originally Posted by Revan

I would definitely not put 45k down on a lease. Double check this but if car gets totaled, finance company gets payoff not you.

I had a Genesis G80 that I was buying at lease end which was 3mo away and had already called and told them I am buying car. Buyout was $26,100. Kid hit my wife totaled car, under insured . My insurance paid out $43k to genesis and I didn't get a dime.

Then, they wanted almost $1100/mo on a lease for a new G80 after paying only $570 on the one that was totaled. I'm not paying that for a genesis so I ordered my M5 and couldn't be happier.

100% agree. Try to walk out if there with as little as possible when leasing is my goal. If the car is stolen or totalled during the lease you will never get that money back…

[Medal]

Thanks gents, much appreciated. Though, I don’t think the g80 is a genesis…I absolutely love mine…just sucks I can’t get AWD and manual. I went with comp RWD only, but the M5 just fits my needs more at the moment