07-16-2022, 10:00 PM | #1 |
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Lease deals in a crazy market
Hi guys,
Curious - what do you all make of the current leasing market? My F97 had a 79k msrp, and I received a 12.5% discount 36/12k with ~5k out of pocket at signing, I am paying ~700. Same car today is ~1,100 per my broker. Seems absolutely insane (even considering the supply dynamic that exists). Those of you with leases rolling in the next few months, what are you planning on doing? A family member just got quoted $700 for an X3 30i with $5k due at signing!
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07-16-2022, 10:10 PM | #2 |
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Sounds like the best options are to buy out your current lease or purchase instead of lease your next car. The current quote sounds about right since you're paying the msrp and higher money factor.
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07-16-2022, 10:21 PM | #3 |
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Bought out my old lease, sold it and rolled surplus from sale into down payment on purchase. In this market it made more sense for me to own outright
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07-16-2022, 10:51 PM | #4 | |
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07-16-2022, 11:17 PM | #5 | |
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Have heard some speculate that pricing will never adjust downwards, as manufacturers will continue to drip feed supply as their profit margins are now higher (it'll be less of a volume game going forward). G80's @ +1300! F80 was an $750-850 car two years ago!!
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07-16-2022, 11:38 PM | #6 | ||
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07-17-2022, 12:21 AM | #7 |
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My wife currently has an Acura TLX and we extended the lease 6 months. We will probably extend for another 6 months after that if the market doesn't cool off. If not, we'll probably buy it out.
Since we have a little one on the way she wants a Q5 so we took a trip to Audi last weekend. We were quoted $800 a month for a 2022 Q5 with a 46k MSRP and 36/10. The residual wasn't bad, but the money factor was ridiculous. Earlier in the year when we went to go look all Audis had 5-10k ADM and 0 Q3s/Q5s on the lot. Last weekend Q3s and Q5s were selling at MSRP and they had 41 Q5s available so I think the market is getting better. |
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07-17-2022, 07:06 AM | #8 |
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Funny how only few months ago there was a thread of how stupid one would have to be to NOT lease due to the rates and how cheap money was. Well, that escalated quickly.
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07-17-2022, 07:57 AM | #9 | |
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07-17-2022, 09:56 PM | #10 |
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Question is - how do you guys think this ends? Will pricing going forward just be absurd?
Volume has to plummet (across leases and outright sales), given rising rates etc. M5's now comfortably +2k a month. Was a ~1,300 car not too long ago. Maybe even cheaper?
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07-18-2022, 05:51 AM | #11 |
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When/if a recession hits, we can expect deeper discounts on automobiles. This is how manufacturers offset the lack of demand - I don't recall a time that actually downward adjusted the MSRP. Truth be told, BMW is having a hard time keeping up with demand. Granted there are shortages of materials which make the cars, but I also was reading BMW was looking at or did pull the trigger on moving some more manufacturing to Mexico to offset the high demand on the X3. That be the case, the discounts in the future may not be as deep as one would like due to the popularity of the model.
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07-18-2022, 09:53 AM | #12 |
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Bought out our 2020 M340 last week. I wanted an X3M soooo bad. Even had the wifey test drive it and she was game. Our payment was around $700, got a quote at MSRP w/ $750 rebate, just first month and fees for an X3M non comp with a few options, it came out to $1208. Even though it was a fair deal for today's market, I couldn't justify it. We'll just wait it out. We have about 13k in equity in our M340. We'll get it eventually, but its just not the right time
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07-18-2022, 09:07 PM | #14 |
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I'm not convinced the market is going to rectify for a while.
We are just going to have to see. Todays numbers are insanity.
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07-18-2022, 09:50 PM | #15 |
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Not going to get any better until 2024. If anything hopefully end of 2023 you’ll see some major improvements. People on strike in Germany, war is causing parts to be delayed and to make things worse chip shortage is still a thing and lack of truck drivers to deliver the shipments once they arrive. It’s a shit show all around. Even with the markup or no discounts people are still buying like myself lol.
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07-19-2022, 12:48 PM | #16 |
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Likely going to just buy mine out here in the next 6 months. Cannot get a better deal out there for anything new and nothing really attracting me either. Now that our Model S is here I am hardly even driving my car now.
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07-19-2022, 12:48 PM | #17 | |
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I have a build being completed since May which will be ready this week and will arrive in August. It's not going to be good when I go to finalize the deal to pick it up: a grand monthly for a M40i, plus the deposit I already put down. I don't know if I should put any more down to lower the monthly or keep the monthly as is..? |
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07-19-2022, 02:56 PM | #18 |
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I don't expect to see big discounts on most BMW's for at least 2 or 3 more years if not more. There's too much pent up demand and supply chains are too fucked at this point.
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07-19-2022, 05:05 PM | #19 |
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Agreed. I also think manufacturers are enjoying this premium pricing demand out pacing supply business model too. I do not think they are in any hurry to produce more cars.
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07-20-2022, 12:57 AM | #20 |
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Wish I could buy out my leased 2021 X3 MC mid way through the lease (only on month 17 of 36) & sell it for a decent profit. But I don't have the kind of dough + the CA state taxes.
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