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Offered a 2009 BMW 335i sedan, good deal?

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OneOfTheseDays

Diamond Member
Fully loaded with the premium package, navigation, etc. Space gray metallic with black leather interior. Brand new car.

Lease payment - $437/mo. for 36 mo.

Is this a good deal?
 
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Depends.

Leasing makes sense in some situations. If you intend to purchase a new car in three years or less anyway and don't intend to sell the car yourself, leasing can be a very reasonable option. For cars with severe reliability issues (say, the Volkswagen R32 with the prone-to-frequent-failure $5,000 DSG gearbox), this can be a benefit - as soon as the warranty ends, the car becomes someone else's problems.

Part of the question is how you drive it. If you intend to really thrash the car (see R32 above), you can do a lot of damage in ten thousand miles. If you're driving it on endless highway miles, you might do none at all.
 
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I have an 09 335i E90 in Space Gray with black interior. My only options are sport package and Logic 7.

I financed my car at 0.9% financing and am paying about $750/mo for 60 months.

That sounds like a good deal. I would have done it. I would rather have a new car in 3 years when the F30 3 series comes out than be stuck with my car which just got hit in an accident on Saturday and has had fuel pump issues already.
 
TechBoyJK said:
Didn't New York ban leasing outright becuase it was such a consumer rip off?
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Nope.

That price sounds ok based on what some other adds are doing locally for cars but nothing too crazy unless you're not putting money down. With no money down it sounds like a good deal but I haven't checked that deeply.

Whether you "rent" or buy a new car is more irrelevant than not. It depreciates whether you own it at the end or you give it back. Do you really want to own something worth less than you bough it for as opposed to giving it back? Doesn't matter; the fact is you by virtue of buying new are eating that new depreciation one way or the other no matter how you window-dress the payments. That's why the criticisms of leasing are not fair because they by extension pretend that buying a new car is better when in reality leasing or buying a new car you get to enjoy the fun of all that depreciation of a new vehicle.
 
Just got off the phone with the BMW sales representative a few hrs ago. Here is the final offer:

$6200 down payment
$437/mo. for 36 months

2009 335i BMW Sedan
Space Gray Metallic with Black Leather Interior
Premium Package
Navigation System
Xenon Headlights
Premium Sound System

They are offering me $5200 trade-in value for my existing car which would bring the down payment down to $1000.
 
22K for a 3 year lease on a 1 model year old car seems very steep.

Seems like the dealer is trying to get you to eat the full depreciation of the vehicle for the last year it's been sitting on the lot. IMO financially, terrible, terrible deal.
 
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I agree with DVC and Ayabe. You are getting a sports sedan. You definitely should get the sports package.

Secondly, with that huge a down payment, you are basically paying $600+/mo for the car. That's a huge difference between $437/mo that you first mentioned. When I was looking at my car, I was quoted around $650 so I'm thinking after taxes, that's where you will be. That is not far off from $750 I'm paying to buy my car.

That is not a good deal at all. It's what is expected.

Additionally, you never want to put any down payment on a lease. If you wreck your car, you lose it because the insurance company pays off the leasing company for the cost of the vehicle and you are relieved of paying for the lease. You don't get your down payment back.
 
OneOfTheseDays said:
Just got off the phone with the BMW sales representative a few hrs ago. Here is the final offer:

$6200 down payment
$437/mo. for 36 months

2009 335i BMW Sedan
Space Gray Metallic with Black Leather Interior
Premium Package
Navigation System
Xenon Headlights
Premium Sound System

They are offering me $5200 trade-in value for my existing car which would bring the down payment down to $1000.
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How many miles per year do you drive and how many are included with the lease? I've seen BMW play the 10,500 miles per year game on their lease terms, read the fine print.

With your down payment/trade in value you are actually paying about $600 a month to rent a BMW for 3 years ($21,600) after which you have nothing to show for it. The car will depreciate about $16,000 while you are driving it so the dealership stands to make $5-6k when you turn it back in after they gouge you for "wear and tear" or any overage miles you drive. You also have much higher insurance premiums to deal with than you would with a lot of other cars that should be calculated in your monthly costs.

It comes down to what is important to you, looks to me like you're cutting your throat just to get your payments low enough to drive a car you really can't afford for 3 years... not a smart move from a personal finance point of view. No chick is going to be impressed if you drive her to McDonalds in your BMW because you can't spring for a nice dinner with your car payments... 😉
 
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My BMW 330i sedan is cheaper to insure than my Honda Civic. So insurance is a wash. The lease deal would be good if you had no down payments but considering you are putting $5,000 down, you could do much better. Check out e90post.com for more info but there are people who got similar monthly lease payments with no down.

Also, sport package is a MUST. You get sport seats, sport suspension, sport steering wheel, and the speed limiter raised from 135 to 155mph. You can replace the steering wheel but you cannot replace the seats, suspension or limiter without substantial cost.
 
KIAman said:
My BMW 330i sedan is cheaper to insure than my Honda Civic. So insurance is a wash. The lease deal would be good if you had no down payments but considering you are putting $5,000 down, you could do much better. Check out e90post.com for more info but there are people who got similar monthly lease payments with no down.

Also, sport package is a MUST. You get sport seats, sport suspension, sport steering wheel, and the speed limiter raised from 135 to 155mph. You can replace the steering wheel but you cannot replace the seats, suspension or limiter without substantial cost.
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Interesting, I did a couple of quick/freebie insurance quotes on a 4 door Civic EXL sedan vs a BMW 335i and the BMW was on average $500 a year more to insure. For purposes of this conversation you really have to compare sedans from the same model year and current/available configurations... there's no way a same year civic sedan worth half/two-thirds as much as a same year BMW is going to cost the same to insure unless you're comparing a base model BMW 3 series to a top of the line optioned out Civic.
 
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Maybe it is specific to me? I use USAA and my 2005 Civic EX cost about $100 more to insure per year than my 2006 BMW 330i Sedan fully loaded and I live near Sacramento, CA.

Trust me, I was shocked at this data as well but speaking with my co-workers who also own BMW SEDANS, they have similar experience with their respective insurance.
 
KIAman said:
Maybe it is specific to me? I use USAA and my 2005 Civic EX cost about $100 more to insure per year than my 2006 BMW 330i Sedan fully loaded and I live near Sacramento, CA.

Trust me, I was shocked at this data as well but speaking with my co-workers who also own BMW SEDANS, they have similar experience with their respective insurance.
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My premium went up about $400 a year moving from a Honda Prelude to an M5. Of course there are many variables involved, but I don't think that BMWs are as expensive to insure as people think.
 
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