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2014 BMW 3-Series Lease Questions

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  • icingsicings Posts: 9

    Looking to lease a 3 series and a local BMW dealer in NYC is telling me that is a $600 bank fee. I know acquisition fee of $725 exists but bank fee? Anyone know about this?

  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,881

    The bank fee and acquisition fee are synonymous... You can't really have both. If they quote a bank fee under $725, I'd worry about a 3rd party leasing company (especially in NYC for some reason).

    If they want a bank fee and and acquisition fee, they are just ----- you..

    Moderator - Prices Paid, Lease Questions, SUVs

  • icingsicings Posts: 9

    Thanks. Going to ask the salesman why he is trying to lose a customer.

  • icingsicings Posts: 9

    Anyone know how the rent is actually calculated?

  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,881

    The rent charge is the finance portion of the lease.

    Add the CAP cost and the residual, then multiply by the money factor, and that is your monthly rent charge. Multiply that by the number of months for the total rent charge.

    Moderator - Prices Paid, Lease Questions, SUVs

  • icingsicings Posts: 9

    Thanks kyfdx. Anyone know a good lease deal in NYC area? For either a 328xi or 320xi. 2013 or 2014 does not matter. Thanks in advance.

  • kelamikamkelamikam Posts: 1

    Hi, need help on evaluating whether my lease payment offer is a fair deal.

    Here are the details: BMW 335x drive, Cold weather package, premium package, tech package, M-package, MSRP $57,450 (including 925 destination charge)

    Selling price 51,805 36 months 15,000 miles per year $5,000 down payment Residual 57% (seems low to me) Money factor 0.00135 (seems high to me) Tax rate 7.25 paid in state of Illinois which applies to full sales price

    Monthly lease payment $599, including sales tax of approximately $104 Is this a good deal or should I continue to shop around?

  • icingsicings Posts: 9

    @kelamikam said: Hi, need help on evaluating whether my lease payment offer is a fair deal.

    Here are the details: BMW 335x drive, Cold weather package, premium package, tech package, M-package, MSRP $57,450 (including 925 destination charge)

    Selling price 51,805 36 months 15,000 miles per year $5,000 down payment Residual 57% (seems low to me) Money factor 0.00135 (seems high to me) Tax rate 7.25 paid in state of Illinois which applies to full sales price

    Monthly lease payment $599, including sales tax of approximately $104 Is this a good deal or should I continue to shop around?

    As far as I know 10k miles gives you 65% residual and the sales person told me that "yes" residual is lower with higher mileage. Money factor is NYC area is .00130 so that's like 3.12% and yours in equivalent to 3.24%. Sorry but that's all I understand. Of course, never hurts to shop around more.

  • konacougkonacoug Kailua-KonaPosts: 165

    @kelamikam said: Hi, need help on evaluating whether my lease payment offer is a fair deal.

    Here are the details: BMW 335x drive, Cold weather package, premium package, tech package, M-package, MSRP $57,450 (including 925 destination charge)

    Selling price 51,805 36 months 15,000 miles per year $5,000 down payment Residual 57% (seems low to me) Money factor 0.00135 (seems high to me) Tax rate 7.25 paid in state of Illinois which applies to full sales price

    Monthly lease payment $599, including sales tax of approximately $104 Is this a good deal or should I continue to shop around?

    Bad idea to de cap a lease, to lower your payment. Once you drive off the lot, if anything happens to the car, ie, wrecked, stolen etc, you have lost all of your down payment.

    It is much better to use Multiple security deposits, for each one it lowers the money factor by .0007 and you can put down a total of 7 MSD's, for a total reduction of .00049. They have jacked up the base money factor a little by .0005. This will lower your monthly payment by about $50 per month.

    Also, you may wish to consider going for lower miles, the residual will go up and later, at any time prior to lease expiration you can buy more miles at 0.16 per mile, which is cheaper than taking the hit on the residual. The selling price looks pretty good.

  • ts0673ts0673 Posts: 5

    Hi - looking for the MF and residuals for a 2014 335i - 36mo, 12K/yr. Thanks!

  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,881

    2014 335i 36mo, 12K/yr lease

    .00130 MF and 59% residual

    kyfdx

    Moderator - Prices Paid, Lease Questions, SUVs

  • icingsicings Posts: 9

    Anyone know how sales tax is actually computed for the lease? I know about the taxes on Acq fee and etc but not too clear on taxes on the actual lease. Was told that tax is computed by 7% (NJ Tax Rate) X depreciation of car. So this means if MSRP is 40000 and Residual is 25000 then depreciation is 15000. Formula would be 15000 X .07. I thought the tax is computed by Net Cap (Agreed sales price) X .07 (NJ Tax rate).

  • Michaell@EdmundsMichaell@Edmunds ColoradoPosts: 1,143

    @icings said: Anyone know how sales tax is actually computed for the lease? I know about the taxes on Acq fee and etc but not too clear on taxes on the actual lease. Was told that tax is computed by 7% (NJ Tax Rate) X depreciation of car. So this means if MSRP is 40000 and Residual is 25000 then depreciation is 15000. Formula would be 15000 X .07. I thought the tax is computed by Net Cap (Agreed sales price) X .07 (NJ Tax rate).

    I believe the sales tax is calculated from the lease payment. For example, if your base lease payment is $300, then the tax is $21 to get a total payment of $321.

    But, different states calculate sales tax differently. Illinois and Texas calculate sales tax on the entire value of the car, not just the portion used during the lease.

    michaell@edmunds.com

    Moderator, Prices Paid and Leasing Experiences

    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4

  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,881

    @icings said: Anyone know how sales tax is actually computed for the lease? I know about the taxes on Acq fee and etc but not too clear on taxes on the actual lease. Was told that tax is computed by 7% (NJ Tax Rate) X depreciation of car. So this means if MSRP is 40000 and Residual is 25000 then depreciation is 15000. Formula would be 15000 X .07. I thought the tax is computed by Net Cap (Agreed sales price) X .07 (NJ Tax rate).

    NJ is either depreciation, or the total of payments.. But, it's calculated and paid upfront, not monthly. Of course, you can roll that amount into your lease payments, if you'd rather not pay upfront.

    Moderator - Prices Paid, Lease Questions, SUVs

  • dentadebdentadeb Posts: 2

    @zgcorbin said: Hey all,

    I'm in TX and have negotiated the following deal:

    MSRP $47,275 (Sport pkg, Driver assist pkg, Premium pkg, + Nav) Cap Costs $42,200 USAA Rebate -$500 BMW Loyalty -$500 MF .00125 - 7 MSD = .00076 36 month 15k/yr 0 down other than first payment and such Payment $462

    Its a little more car than I wanted... I'm going to ask they throw in tint.

  • dentadebdentadeb Posts: 2

    That sounds like what I want. I have a 2010 x3 but rather plain Jane, no bells and whistles. Has 49100 miles so will have to consider extended warranty soon. No problems in last 3 years until short in last 6 weeks and had to replace side mirror, which would've cost about 1200 without warranty. Will need tires within 6 months too. Paying $706 per month, have 28 months left. Newer model has a lot more head and leg room which would be better for trips. Would it be worth it? Need some input here. Owe approximately $19068. Any ideas? Warranty is around $3000 or so

  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,881

    The problem with the extended warranty is that there will still be repairs it won't cover, and it doesn't include the extended maintenance plan, which is probably another $2000.

    However, even with all that, keeping your current vehicle with $19K of debt will still be cheaper in the long run than buying a new $45K vehicle.

    In the short run, you can really help your cash flow by selling your X3 and leasing a new vehicle, but don't mistake that for long-term savings.

    Moderator - Prices Paid, Lease Questions, SUVs

  • Hello, can you tell me the MF and residual on 2014 335i 10k/year? Thank you.

  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,881

    @rogerklotz said: Hello, can you tell me the MF and residual on 2014 335i 10k/year? Thank you.

    .00130 MF and 60% residual

    $750 option credit and $500 drive credit.

    Moderator - Prices Paid, Lease Questions, SUVs

  • Hi - Can I get info on a 328d Sport Wagon xDrive? 10k lease & likely 36-month.

    Thanks!

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