I have never leased a car, and went in looking for CPO-ed M3's

They had a demo Z4 M roadster for sale, started talking, they start throwing numbers at me that sound great, but I have no clue when it comes to leases.

I think I'm going to try and find out more but this is what is stated.

Sticker is about 56-57 with options, cars got about 1000 miles.

Sale price is $52K

Lease term is 28 months for 12k miles a year, $3k down and $500 a month payment.

How good does this deal sound???

The other option is to finance an 02 M3 Vert CPO and probably sell in 2 years, or keep.... But maybe drive more miles....

 

Correction those terms are for 10k a year.

I just threw in an offer for 1500 down, and 15k miles a year..... we'll see what he comes back with.

 

came back with 628 a month. TELL ME GUYS IS THIS DEAL GOOD?!?!

I countered with 600 a month......

 

628 a month for that short lease term is usually a good deal, but with a $3000 down payment on a 28 month lease that is basically an extra $100+/month in lease payment. Also be aware the big reason they give these weird lease terms like 28 months is because you basically have to pay for a whole year's registration and they get to have 8 months of that. That sucks.

 

*nevermind, thanks Fanman

I'm sorry to add to the list of questions, but I am curious if the lease is not a "exact" year term, as in your example you have only 4 months of third year (28 months), do you pay for registration, insurance, etc.. for the entire third year?

 

registration you probably pay the full year... no way to recoup that cost. Just depends on if the plates stay with you, or with the car. Different states have different rules.

Insurance, you pay for the exact time you have the car. you'd probably have to get a refund from insurance for the amount you don't use.

 

Only 10K a year???!!! That's why I'd never lease a car...I'd feel to restricted.

 

Check out www.edmunds.com and go to their "tips and advice" section and look up leasing. Lots of helpful info there. helped us on a recent lease greatly.

 

they offered 15k miles a year, 1500 down, and 600 a month...

 

I'd lengthen the term to 36 months. That could be worth $100/mo.