Hi all -
Forgive me if you feel this should be posted under the generic 2 Series Pricing/Ordering forum - I'll move it if appropriate. In short, I am leasing a 2014 228i and definitely will want to move into the M2. I imagine there are some other people in the same position, where your lease maturity date is beyond the expected delivery date of the M2 (Feb 2016 last I heard from my dealer). Here is the info I'm working with:
- Contract Start Date: 6/21/2014
- Contract End Date: 6/21/2017
- Original Contract Total Miles: 30,000
- Current mileage: 11,029
- Residual: $25,423.65
- Total Lease Payoff: $33,741.27
- Current KBB Range (current mileage): ~$27K-$28K
- Projected KBB Range (assumes 17K miles): ~$26K - $27K
- Build details (custom order): 6 MT, M Sport package, Tech Package, Heated Seats, moon-roof delete)
Assuming a February 2016 M2 arrival, at that point, my lease would ~55% completed. My understanding of BMW Lease Termination is the following - pay the lesser of:
- The difference between payoff and realized value, OR
- The total of your remaining payments plus excess wear and tear
From my math, Option 1 will be satisfied, and the car could be turned in at residual / positive equity.
All that being said, what are your thoughts on trying to make a deal now on the M2 vs. b) waiting until closer to early 2016. What I don't want to have happen is to order an M2 and find myself in a tricky position in not being able to get out of the lease early.
Will BMW dealerships "commit" to a deal that involves an early lease return?
I am happy to shop around, as I'm in DC and we have a ton of dealerships nearby.
FWIW, there are 7 people on my dealership M2 waitlist, requiring $1K deposit now, 10% of the MSRP is required as a deposit once the car has been modified to your specs and production begins (note: they mentioned they have "NO intention of marking these cars up over MSRP"). The 10% seems aggressive for a deposit on a lease where I have no intention of putting anything down. Interested in thoughts on this as well.
All the best,
BB