Quote:
Originally Posted by Powaup
Purchasing an M3 these past few weeks has been harder than it seems because apparently now is one of the worst times to buy an E92 M3 especially from a dealership.
I have been to a few dealerships and they are very firm on their price at the moment, I went to Pacific BMW a few weeks back and even though the CPO M3 I was interested in had been sitting on their lot for over 70 days they would not even budge $900. After looking around it seems like I would not get much of a deal from anywhere so I have decided to wait it out.
I just graduated from College and a down payment on a car is supposed to be my graduation gift from my parents (I would make the monthly payments)
Option 1: Since its such a bad time to buy the car I want parents have offered to help me lease a 328i, I would drive the 328i for a year and then hand it over to my mom and she would drive it for the remainder of the lease period. When I am ready to make a purchase on an M3 they would still somewhat help me. At that time deliveries of the F8x M3/M4 will have begun and prices on the E9x M3s should have dropped considerably. Now if I take this deal I would HAVE to drive the 328 for at least 9 months minimum, so if prices for e92 M3s drop in January-February once orders are being placed for M3/M4 I would not be able to do anything until some months down the line. However during that time period I will be able to save more money for the M3.
Option 2: I could just not get a 328 and save myself and my parents some cash and instead wait to see if e92 prices drop and make a purchase once the price is right. However I would be driving my grand mother's Lexus es300 in the mean time (she can not drive anymore), which is a pain to drive and not economical plus I plan on going snowboarding this winter and the 328i would be a much better car for that situation.
Option 3: The 435 will be out in a few months and my mom works for Oracle so she benefits from the BMW fleet program where she would basically be able to get invoice price+$500 once dealers get a sufficient amount of order allocations available (Who knows how long that would take) so at that point I would be able to lease a 435i for a 3 year period. However I am not as interested in leasing this car and have my mind set on an M3, this is just something worth considering.
Notes:
- In the next 2-6 months I am expecting 2 (1 is more certain than the other) 5 figure bonus checks from my previous job at a law firm
- In 4 months I am expecting a promotion/raise from my new job
- I will not have to pay rent for the next 4 months and will be living alone
- If I do receive the bonuses I plan on using a large chunk of that money to pay back college loans for my father and I. I would also hate to just drop a large chunk of cash on a car before earning some interest through investments.
- If I go with Option 1 I would be able to use $1,000 Ultimate drive incentive and my graduation incentive would be intact for a CPO M3 a year from now (date on my degree is 9/11/2013)
I appreciate any and all feedback negative or positive. I did not expect to drive a 328 right after graduation but as of right now it seems like the smart move to make for 1 year and then I will be able to drive my dream car the M3.
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Just pick up an E46 M3 and pay cash and be done with it.
Good luck.
