Residual/Money Factor for '04 Evo?
#1
Residual/Money Factor for '04 Evo?
Getting a new car in the next few months. Leaning hard toward a 330i w/performance package. BMW has a smoking lease deal now: Money factor of .001 and 36 mo/45K mile residual of 58%.
Does anyone know what the money factor and the residual is for an '04 Evo, assuming 3 years, 45,000 miles?
Believe it or not, I have a feeling that the BMW lease is going to be cheaper because the depreciation on the Evo is horrible and Mitsubishi is probably not generous with their interest rate...
Does anyone know what the money factor and the residual is for an '04 Evo, assuming 3 years, 45,000 miles?
Believe it or not, I have a feeling that the BMW lease is going to be cheaper because the depreciation on the Evo is horrible and Mitsubishi is probably not generous with their interest rate...
#4
lemacfar
Great lead on great info -- thanks, but a lease through BMW spanks the leasecompare rates this time. The best interest rate from leasecompare is almost 2.4% HIGHER than the BMW rate.
Impressive useful site tho... Thanks!
Now time to check on the Evo...
Great lead on great info -- thanks, but a lease through BMW spanks the leasecompare rates this time. The best interest rate from leasecompare is almost 2.4% HIGHER than the BMW rate.
Impressive useful site tho... Thanks!
Now time to check on the Evo...
#6
Evolving Member
Join Date: Jan 2004
Location: North Carolina
Posts: 172
Likes: 0
Received 0 Likes
on
0 Posts
Don't know about the 04, as they aren't out yet. When I looked into leasing for a 03 Evo, the residual was a miserable 39% after 36 months. That explains why leases weren't really offered by most dealers and credit unions.
Lee K
Lee K
Trending Topics
#10
Evolved Member
iTrader: (2)
Join Date: Oct 2002
Location: Between the Blue and the Sand
Posts: 2,367
Likes: 0
Received 0 Likes
on
0 Posts
Buying a car is not a financial investment. It is a money pit. So even if you end up saving some money in the end because of the improved residual with the BMW, if you like performance cars, you will be disappointed that you didn't get an Evo.
#11
Originally posted by Secret Chimp
Buying a car is not a financial investment. It is a money pit.
Buying a car is not a financial investment. It is a money pit.
So even if you end up saving some money in the end because of the improved residual with the BMW, if you like performance cars, you will be disappointed that you didn't get an Evo.
It is about 0.5 seconds slower to 60 than the Evo, but it's safer, more solid, quieter (some people like that), and doesn't have that silly wing on the back.
The BMW is refined performance, the Evo is raw performance. It's just a matter of preference. But I am certainly sure that you are not capable of judging whether I'll be disappointed if I don't get an Evo. Isn't that rather presumptuous?
#12
Originally posted by lemacfar
Yea... i mean if i can get my hands on a 330i w/ action package thiing for 0 down under 500 a month... i will jump on it... LOL
Yea... i mean if i can get my hands on a 330i w/ action package thiing for 0 down under 500 a month... i will jump on it... LOL
The evo gets pretty good lease for the 04 year... It can be had for about 400-430 a month depending on how Good you are at negiotiating
Just to be clear, my situation is 36 month / 15K mi per year.
#13
Originally posted by lemacfar
Can u let me know what kinda lease rates your are getting from bmw... Like w/ zero down... how much a month, i might be looking at a 330c also
Can u let me know what kinda lease rates your are getting from bmw... Like w/ zero down... how much a month, i might be looking at a 330c also
The money factor is .001 (good at least through April), which translates to an APR of about 2.38%. The residual is 58%. Don't, don't don't pay their stupid security deposit or other silly fees. Just say "hell no."
So am looking at a pretax monthly lease payment of around $460 or so. That actually beats the Evo because the Evo residual is so crappy (somebody said it was 38%!).
#14
Newbie
iTrader: (3)
Join Date: Nov 2003
Location: Las Vegas, NV (originally from So. Cali)
Posts: 58
Likes: 0
Received 0 Likes
on
0 Posts
I'm not sure what you're getting at. There are different measures of performance. The 330i w/Performance package is a performance car and I prefer it to the bone jarring ride and the squeeks and rattles of the Evo. It is about 0.5 seconds slower to 60 than the Evo, but it's safer, more solid, quieter (some people like that), and doesn't have that silly wing on the back.
#15
Evolved Member
iTrader: (2)
Join Date: Oct 2002
Location: Between the Blue and the Sand
Posts: 2,367
Likes: 0
Received 0 Likes
on
0 Posts
What I am saying is that you can't compare the BMW to the Evo in any meaningful fashion. They exist for 2 very different reasons. Most people who arrive at this site who are trying to compare apples to donuts usually haven't completely thought through what they really want in a car.
By looking at a BMW, you show that you want 'luxury' in your next car. With an Evo you will get none of that...you won't even get cruise control.
By looking at an Evo, you are showing that you value a very high performance vehicle. You don't get that in the non-M BMW's. Sure they (non-M's) are faster than the average sedan, but they are not actually fast.
People who are looking at BMW's like that all maintenance and oil changes are included in the purchase because they don't want to work on their car, or pay for work to be done. If you buy (lease) an Evo, you will still pay for all wear related maintenance. Front brakes need to be replaced every 15k miles or so. The front pads alone are $200+. Replacement of all pads at the dealership (incl labor) is on average about $900. You will need tires every 15k also. If you like the oem's, it'll cost you over $1000 to replace em. You will very likely send your BMW back at the end of it's lease with it's original set of brakes and tires.
People who are looking to buy an Evo love the capabilities of AWD. They love the great launching at the 1/4 mile and they love the road course handling attributes of that kind of system. The BMW has a more mundane rwd set-up with traction control.
These cars really are pretty much polar opposites of one another.
By looking at a BMW, you show that you want 'luxury' in your next car. With an Evo you will get none of that...you won't even get cruise control.
By looking at an Evo, you are showing that you value a very high performance vehicle. You don't get that in the non-M BMW's. Sure they (non-M's) are faster than the average sedan, but they are not actually fast.
People who are looking at BMW's like that all maintenance and oil changes are included in the purchase because they don't want to work on their car, or pay for work to be done. If you buy (lease) an Evo, you will still pay for all wear related maintenance. Front brakes need to be replaced every 15k miles or so. The front pads alone are $200+. Replacement of all pads at the dealership (incl labor) is on average about $900. You will need tires every 15k also. If you like the oem's, it'll cost you over $1000 to replace em. You will very likely send your BMW back at the end of it's lease with it's original set of brakes and tires.
People who are looking to buy an Evo love the capabilities of AWD. They love the great launching at the 1/4 mile and they love the road course handling attributes of that kind of system. The BMW has a more mundane rwd set-up with traction control.
These cars really are pretty much polar opposites of one another.