kurichan

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...

lemacfar

iTrader: (4)

My friend... try this www.leasecompare.com 99% of the time its cheaper than the dealership

boomn29

iTrader: (47)

If you are cross shopping a 330 (even with their perf pack) with an EVO, they you are not comparing apples to apples.

Good luck with your choice. Status or power...

kurichan

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...

lemacfar

iTrader: (4)

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

Lee_K

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

Larsony

So how much would that Bimmer lease be for?

Down payment, monthly payment....


I don't know jack about money factors, etc.

Larsony

oops, i guess lemacfar already asked- my bad

lemacfar

iTrader: (4)

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

Secret Chimp

iTrader: (2)

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.

kurichan

Which is why I lease. And a good residual is a good thing when you lease -- makes the car LESS of a money pit. But I do agree -- the Evo is a money pit, even more so now that Mitsubishi is teetering on the brink of bankruptcy.

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.

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?

kurichan

If you have excellent credit and are a decent negotiator, you can. That's the deal I have on the table right now.

Leasecompare shows it over $500. Where did you get your figures?

Just to be clear, my situation is 36 month / 15K mi per year.

kurichan

I am looking at 36 month, 15K miles per year.

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%!).

LV 2 XLR8 2

iTrader: (3)

Sounds like you already made up your mind even before knowing the answer to your question....

Secret Chimp

iTrader: (2)

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.