9.15% interest on a 335 coupe lease?

kalch · 10-31-2008, 01:44 PM

okay,
i just went on to see what kind of deals are going on, for the hell of it, and then punched in some numbers for the 335 coupe.

it spit back a residual of just above $22k, and an interest rate of 9.15%

um.

help me understand the rationale behind moving cars on an interest rate that high, enless car leasing companies are all broke, banks arent giving out lines of credit, and people are demanding almost 10% interest for their cars.

i guess it's the residual where they're getting killed and need to make up the delta.

OverDrive · 10-31-2008, 02:58 PM

thats the rate for a 48 month lease, if you do 36 or 24 month, its gonna be 6.9, but as soon as the 08's are cleared from their lots, the rate is gonna go down to 4.9 for a 36/24 month lease.

benyl · 10-31-2008, 03:27 PM

Also, BMW is updating their website. Why the hell they do that in the middle of the day baffles me.

Magimac · 10-31-2008, 05:45 PM

The credit crunch has had a real affect on leasing -- companies are scared that they are going to be stuck with vehicles worth less than their residuals. Some companies have stopped leasing altogether, others are using high rates/low residuals to discourage leasing. You'll likely find better deals buying than leasing until things ease up.

ehhhwik · 10-31-2008, 06:42 PM

i thought BMW was offering rates like 1% or something for leasing for 2008 models??

BMdblU · 10-31-2008, 06:55 PM

Quote:

Originally Posted by ehhhwik

i thought BMW was offering rates like 1% or something for leasing for 2008 models??

I believe that's finance only

halB · 10-31-2008, 09:25 PM

Leasing companies are losing their shirts right now selling lease end returns that have higher residual than actual market values. You won't see high residual again for quite a while.

picus · 10-31-2008, 10:08 PM

Quote:

Originally Posted by ehhhwik

i thought BMW was offering rates like 1% or something for leasing for 2008 models??

Like Dave mentioned, it's on financing. They'll finance for 0.9% right now, but leases are still 6.9%.

bulldog_yyc · 11-01-2008, 12:02 AM

Its a no brainer

10-31-2008, 01:44 PM	#1
kalch Lieutenant 24 Rep 528 Posts Drives: Gracie:E92 335 19" S/P/FL/CA Join Date: Apr 2007 Location: TORONTO iTrader: (0)	9.15% interest on a 335 coupe lease? okay, i just went on to see what kind of deals are going on, for the hell of it, and then punched in some numbers for the 335 coupe. it spit back a residual of just above $22k, and an interest rate of 9.15% um. help me understand the rationale behind moving cars on an interest rate that high, enless car leasing companies are all broke, banks arent giving out lines of credit, and people are demanding almost 10% interest for their cars. i guess it's the residual where they're getting killed and need to make up the delta. __________________ E92 335 SPACE GRAY/BLK; 6MT; PREMIUM 19" SPORT PACKAGE;6FL;COMFORT ACCESS
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10-31-2008, 02:58 PM	#2
OverDrive CHEAT TO WIN!! 153 Rep 1,347 Posts Drives: E92 M3, 718 GT4 Join Date: Oct 2007 Location: Toronto iTrader: (0)	thats the rate for a 48 month lease, if you do 36 or 24 month, its gonna be 6.9, but as soon as the 08's are cleared from their lots, the rate is gonna go down to 4.9 for a 36/24 month lease. __________________ Current: 2013 E92 M3, 6MT, SSII on Fox Red Extended Previous: 2008 E92 335xi, 6MT, AW on Saddle Brown
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10-31-2008, 03:27 PM	#3
benyl Lieutenant 6 Rep 408 Posts Drives: '08 335i, '10 W204 w/m156 Join Date: Nov 2007 Location: Calgary iTrader: (0)	Also, BMW is updating their website. Why the hell they do that in the middle of the day baffles me. __________________ E92 335iA, AW on BLK, Al trim, Premium, Nav, 6FL, CA, Sport, PDC, Paddles... W204 C63, OBS on BLK, Carbon Trim, Premium, Performance, Rev Cam, and stock exhaust...
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10-31-2008, 05:45 PM	#4
Magimac First Lieutenant 4 Rep 302 Posts Drives: 08 335i sedan Join Date: Sep 2007 Location: Ottawa, ON iTrader: (0) Garage List 2008 335i sedan [0.00]	The credit crunch has had a real affect on leasing -- companies are scared that they are going to be stuck with vehicles worth less than their residuals. Some companies have stopped leasing altogether, others are using high rates/low residuals to discourage leasing. You'll likely find better deals buying than leasing until things ease up.
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10-31-2008, 06:42 PM	#5
ehhhwik Brigadier General 118 Rep 3,431 Posts Drives: 09' BMW 335d, 07' BMW E92 328i Join Date: Oct 2006 Location: Vancouver, BC iTrader: (5)	i thought BMW was offering rates like 1% or something for leasing for 2008 models?? __________________ Current: 09' E90 335d - Titanium Silver/Black Leatherette/Sports Package/6AT Paddle Shift/USB Integration/19" Staggered Breyton GT Gloss Black Retired: 07' E92 328i (Jet Black)
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10-31-2008, 09:25 PM	#7
halB Colonel 55 Rep 2,384 Posts Drives: W211 E350 4M MkV GTI 987.2 S Join Date: Jan 2007 Location: Just north of Toronto iTrader: (0)	Leasing companies are losing their shirts right now selling lease end returns that have higher residual than actual market values. You won't see high residual again for quite a while. __________________ 07 E93 335i - Returned at lease end 09 W211 E350 4Matic Avant Garde - Blk/Blk, AMG pkg w/18". Sport Susp. F1 Asym. Debadged. 09 MkV GTI w/Leather & 18" Huffs. F1 Asym 10 987.2 S w/Leather sport seat, Sport Chrono, 19" Carrera S II wheels
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11-01-2008, 12:02 AM	#9
bulldog_yyc Major General 136 Rep 5,040 Posts Drives: GT3RS Join Date: Oct 2008 Location: probably work iTrader: (28)	Its a no brainer
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