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#1. RE: How much are Payments on a 330ic? - from Dorffer, Rich
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Date: Tue, 22 Aug 2000 14:17:42 -0400 From: "Dorffer, Rich" <RDORFFER@CleIndians.com> Subject: RE: How much are Payments on a 330ic? Norm said: >I'm going to lease a new e46 330ic. MSRP is $40600. How much should the >payments be for 36 months with $5000 down? I'm calculating around $ 550 >plus tax but the dealer says it should be about $ 650? I be interested how >much others are paying. Sorry for the WOB Suzy but I figured leasing in general applies to a lot of us M3 owners (please have mercy). Norm, There are a lot of variables at play here but here goes: I looked up the ALG residual value on Carwizard.com but no lease data was available. I figured the following for this lease: A money factor of 0.003333 (interest rate of 8%...who knows?). An ALG residual value of 60% (estimated based on 3 year lease...again who knows??). Sales taxes at 7% (depends on where you live of course). A MSRP of $40,600 (I am not sure where you got this number) I did not account for any built in acquisition or disposition fees (these probably exist). The payment comes out to about $580 (I can send you my Excel file for this calculation). Carwizard.com say the MSRP for a 2001 BMW 330ci 2 door convertible is $42,970 (including destination). In that case, the payment would be approximately $590 instead. Obviously, adjusting any of the above factors would affect your price. Adding lease acquisition and/or disposition fees, increasing the MSRP, interest rate, tax rate, lowering the residual value, etc. only makes matters worse. In general, my philosophy is simple. Unless you understand all of the factors and variables which go into leasing, are happy with the fees you will have to pay (acquisition and/or disposition fees, mileage fees, excess use and/or damage fees, etc.) and can live within the parameters of a lease (specific mileage, lease term, etc.), BUY THE CAR INSTEAD. This philosophy mirrors my philosophy on the use of option, future, FX contracts, etc...."If you can not explain them to your mother, you probably should not be 'investing' in them." There are business exceptions to this rule though. Good luck. Regards, Rich 95 M3 (financed via a good old fashioned loan, even though the dealership was pushing a lease).
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#2. Ontrack Insurance Deductable - from Carey Probst
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Date: Tue, 22 Aug 2000 14:30:25 -0400 From: Carey Probst <hcprobst@alum.mit.edu> Subject: Ontrack Insurance Deductable Note: From the ontrackinsurance webpage ***** The deductible is $1,000 for all situations, except for losses arising from Driver's Education Events while on-track where a deductible equal to 20% of the agreed value limit applies. ***** The deductible is 20% (35% at The Glen) of the agreed upon value, not of the accident, so if you have a $45,000 M3 and have an accident at The Glen, your deductible is $15,750 so you pay everything up to that amount. Anyplace but the Glen the deductible is $9,000. A lot of deductible for a fairly high price. -- Carey Probst Technical Director Business Intelligence and Warehouse Service Line Phone: (518) 584-4388 Fax: (518) 584-8037 E-Mail: Carey.Probst@oracle.com Member, M.I.T. Educational Council Perm: hcprobst@alum.mit.edu A well regulated militia being necessary to the security of a free State, the right of the people to keep and bear arms shall not be infringed.
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#3. RE: [E36M3] Water Pump - from Jim Bassett
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Date: Tue, 22 Aug 2000 11:32:58 -0700 From: "Jim Bassett" <jbassett@mayannetworks.com> Subject: RE: [E36M3] Water Pump > Date: Tue, 22 Aug 2000 10:20:38 -0400 > From: "Lee, Peter " <plee@mlundy.com> > Subject: Re: [E36M3] Water Pump > > You have the metallic one. True, he has the metallic one. > Not to worry. Ah, well, not so hasty :-) I had my water pump replaced last month - this is on a '98 M3. It started leaking from the front bearing. Mileage on the car at the time was over 60,000 miles. Just because you have the metal impeller water pump, doesn't mean it won't fail at some point. Cheers, Jim Bassett 1998 M3/4 - w/new water pump and new radiator
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#4. Leasing - from Carey Probst
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Date: Tue, 22 Aug 2000 14:42:51 -0400 From: Carey Probst <hcprobst@alum.mit.edu> Subject: Leasing IMHO, there are really only 2 valid reasons for leasing a car rather than purchasing directly. 1. You can write off the lease on your taxes. You must have a valid business reason for this. I get a car allowance to spend as I please so my lease is fully deductable after allocating expenses between business and personal miles. Except for track time, my M3 is mostly used on business so I get a big percentage write off. You can roll everything into the lease, sales taxes, extras, wing, etc. Everything over and above the sales price is amortized over the life of the lease if desired. My lease is high, $805, but I drove away with paying first month's lease and security deposit. No downpayment, no taxes, anything. All rolled into the lease. 2. You really have to have a new car every so often (2-3 years) and the lease payments are lower than purchasing. Every analysis I've seen has concluded that purchasing is cheaper than leasing unless you get the tax benefits. Now, if I could just figure out how to justify the blower as necessary maintenance I'd be all set. ;-) Guess I should have had the dealer put it in the lease. -- Carey Probst Technical Director E-Mail: Carey.Probst@oracle.com Perm: hcprobst@alum.mit.edu A well regulated militia being necessary to the security of a free State, the right of the people to keep and bear arms shall not be infringed.
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#5. A/C now works great - Heater still weak - from BHilton@rhythms.net
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Date: Tue, 22 Aug 2000 12:53:57 -0600 From: BHilton@rhythms.net Subject: A/C now works great - Heater still weak I recently had my A/C fixed at the dealer. They fixed 2 problems: air not cold, fan not blowing very hard. The air temp was fixed by adding 1 pound of freon ( or whatever it actually is ) to the cooling system. The fan was fixed by replacing the microfilter which was absolutely caked with dirt. Now the fan works GREAT and the air is COLD. I figured this would fix my heater problem also. Well, I guess I was wrong. I turned the heater on full blast the other morning when the outside temperature was a frigid 65 degrees and there was no improvement. The air volume coming out of the under-dash vents is really low compared to the volume that comes out of the dash vents. The air seems fairly warm, however. I think it is just an air volume problem, but have no idea what could cause such a discrepancy between the dash vents and the under-dash vents. Any thoughts/similar experiences? Thanks, Bret
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#6. TC Kline Trackline kit - from Ed Tang
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Date: Tue, 22 Aug 2000 12:08:44 -0700 (PDT) From: Ed Tang <etangf1@yahoo.com> Subject: TC Kline Trackline kit Hello all, I am seriously considering the TC Kline Trackline suspension package. It lowers the car 1.5"-2.0" and the spring rate is 25% stiffer than stock. Has anyone had problems clearing a driveway at the grocery store or experienced an untolerable harshness in ride from this setup? I'm more concerned with the height. The only driveway my car doesn't clear is at the Blockbuster Video. After DSS I don't go there anymore. Will a 2" drop make a difference in clearing a pothole? I don't want to damage the side skirt if I hit one. TIA Ed Tang 95 Cosmos M3 __________________________________________________ Do You Yahoo!? Yahoo! Mail – Free email you can access from anywhere! http://mail.yahoo.com/
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#7. E36 crash bolts, opinions? - from S Lafredo
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Date: Tue, 22 Aug 2000 12:53:09 -0700 (PDT) From: S Lafredo <slafredo@yahoo.com> Subject: E36 crash bolts, opinions? Group, Group, We have all heard about the crash bolts and how they can give us a few degrees of negative camber. I have also heard how *some* have experienced their alignments shifting from driving on the track with the crash bolts. If you have used these or just have an opinion please email me privately and I will compile and post the results. Thanks. Stephen BTW, I have the bolts in my cup holder. I'm just trying to decide if I want to install them. __________________________________________________ Do You Yahoo!? Yahoo! Mail – Free email you can access from anywhere! http://mail.yahoo.com/
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#8. RE: How much are Payments on a 330ic? - from nabli@attglobal.net
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Date: Tue, 22 Aug 2000 16:09:55 -0400 From: nabli@attglobal.net Subject: RE: How much are Payments on a 330ic? Guys, Without the proper info you cannot guess at what the lease should be. You need exact numbers. You'll see why when you compare my number with Rich's estimate. Here are the LATEST BMW LEASE NUMBERS FOR THE 330CI 36 month lease Money Factor = .00330 (which BTW is an effective APR of 7.96%) Residuals: 10K = 64% 12K = 63% 15K = 61% Purchase price is $40,600.00 Cap Cost Reduction = $5000.00 AKA: down payment Assume sales tax to be 6% 63% residual is $25578 MONTHLY PAYMENT = 480.28 WITHOUT TAX or 509.09 WITH TAX. Start Up costs: First months payment of 509.09 Deposit of 525 or thereabouts Registration and title fee ??? Sales tax on the Cap Cost Reduction = 300 assuming 6% sales tax Luxury tax around $130 - I assumes 5% of excess over 38K Certain states require you to pay your sales tax up front - i.e., take your total payments * 36 and then figure your sales tax. If your state does not require it then don't do it! Some states have a property tax or a use tax. Cheers, Jim E. BTW, do you see the difference in figures now??? Rich's 550 + sales tax of 6% is 583 which is a difference of $73.91 (from my figure of 509.09) * 36 = $2660.76!!! NOT small change. You can do a lot of upgrading with that money! :-) Oh, there is another trick - put down 10 times your deposit and BMW will reduce your money factor which means lower payments. The deposit you get back at the end of the lease. This assumes that you would not have invested that money. I know I know, most people tell you that you could just take that money and invest it blah blah blah. It will not happen! There is also another BIG reason to lease. If you want to keep your car at the end of the lease term you can just have it certified for about $1000 and get another 2 years/50K. If you financed it then your warranty is up and you have to go to an outside source for coverage. I'm not sure if BMW will let you certify a car you purchased from them but I don't think so. Not bad for driving school! :-) "Dorffer, Rich" wrote: Date: Tue, 22 Aug 2000 14:17:42 -0400 From: "Dorffer, Rich" <RDORFFER@CleIndians.com> Subject: RE: How much are Payments on a 330ic? Norm said: >I'm going to lease a new e46 330ic. MSRP is $40600. How much should the >payments be for 36 months with $5000 down? I'm calculating around $ 550 >plus tax but the dealer says it should be about $ 650? I be interested how >much others are paying. Sorry for the WOB Suzy but I figured leasing in general applies to a lot of us M3 owners (please have mercy). Norm, There are a lot of variables at play here but here goes: I looked up the ALG residual value on Carwizard.com but no lease data was available. I figured the following for this lease: A money factor of 0.003333 (interest rate of 8%...who knows?). An ALG residual value of 60% (estimated based on 3 year lease...again who knows??). Sales taxes at 7% (depends on where you live of course). A MSRP of $40,600 (I am not sure where you got this number) I did not account for any built in acquisition or disposition fees (these probably exist). The payment comes out to about $580 (I can send you my Excel file for this calculation). Carwizard.com say the MSRP for a 2001 BMW 330ci 2 door convertible is $42,970 (including destination). In that case, the payment would be approximately $590 instead. Obviously, adjusting any of the above factors would affect your price. Adding lease acquisition and/or disposition fees, increasing the MSRP, interest rate, tax rate, lowering the residual value, etc. only makes matters worse. In general, my philosophy is simple. Unless you understand all of the factors and variables which go into leasing, are happy with the fees you will have to pay (acquisition and/or disposition fees, mileage fees, excess use and/or damage fees, etc.) and can live within the parameters of a lease (specific mileage, lease term, etc.), BUY THE CAR INSTEAD. This philosophy mirrors my philosophy on the use of option, future, FX contracts, etc...."If you can not explain them to your mother, you probably should not be 'investing' in them." There are business exceptions to this rule though. Good luck. Regards, Rich 95 M3 (financed via a good old fashioned loan, even though the dealership was pushing a lease). ************************************************************* List Commands UNSUBSCRIBE - (in subject line) unsubscribes you from the mailing list. *************************************************************
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#9. RE: How much are Payments on a 330ic? - from Dorffer, Rich
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Date: Tue, 22 Aug 2000 16:31:26 -0400 From: "Dorffer, Rich" <RDORFFER@CleIndians.com> Subject: RE: How much are Payments on a 330ic? Guys, I am not about to do a bunch of guessing here which is why I stated in my post about all of the variables in leasing. Norm was simply looking for an idea what the cost may be and I gave him an example along with offering him my template (and some words of wisdom). My number of $550 included sales tax (at 7% as stated in my original post), a 60% residual that was not to far off from the 61% for 15k you stated and a money factor of 0.003333 (versus your 0.00330). That said, the difference between your calculation of $509.09 and mine at $550 (it was actually $547.94 but I figured with all of the variable why not round a little) is not as widely different since my tax rate was slightly higher (by 14%), my money factor was ever so slightly higher (about 1%) and my residual was lower by 5% (all having a negative impact on the payment though). The difference would be $38.85 a payment or $1,398.60 over 36 months. Not a gigantic difference on total payments over three years of $25,075.84 (my calculated payments of $19,725.84 and down payment including sales tax of $5,350) but does prove how all of the variables do affect the payment. I do agree tweaking these variables can have a definitive impact on the bottom line though. I repeat my first comment "Unless you understand all of the factors and variables which go into leasing, are happy with the fees you will have to pay (acquisition and/or disposition fees, mileage fees, excess use and/or damage fees, etc.) and can live within the parameters of a lease (specific mileage, lease term, money factor, etc.), BUY THE CAR INSTEAD." Regards, Rich All the previous messages (including my old message) snipped
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#10. Re: How much are Payments on a 330ic? - from nabli@attglobal.net
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Date: Tue, 22 Aug 2000 16:51:14 -0400 From: nabli@attglobal.net Subject: Re: How much are Payments on a 330ic? "Dorffer, Rich" wrote: > Guys, > > I am not about to do a bunch of guessing here which is why I stated in my > post about all of the variables in leasing. Norm was simply looking for an > idea what the cost may be and I gave him an example along with offering him > my template (and some words of wisdom). > > My number of $550 included sales tax (at 7% as stated in my original post), > a 60% residual that was not to far off from the 61% for 15k you stated and a > money factor of 0.003333 (versus your 0.00330). > Rich, sorry about that but for some reason I thought you said $580 with tax. :-( Anyway, everything you said was on point and my post was NOT meant to be a correction but rather a very definitive answer since I was privy to the actual numbers. Cheers, Jim E.