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2014 BMW 3-Series Lease Questions

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  • kyfdx%40Edmundskyfdx%40Edmunds Posts: 25,856

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

    Thanks!

    .00130 MF and 60% residual. $1000 of lease incentives.

    Moderator - Prices Paid, Lease Questions, SUVs

  • gfish49gfish49 Posts: 24

    Hello - can I get the money factor and residual for 15,000 miles a year and 12,000 miles a year on a 2014 328d? Will also be putting down the 7 max security deposits. Thanks and always appreciate your help.

  • 320xi. MSRP $40,325. Invoice 37,125, Sale price $37,300. Money factor 0.0017, residue 65%. Acquisition $785, doc fee $289. I asked for 0.00125 but told it is regional (I live in Boston) and was showed a document that lists the rate for different credit level, so I took the bite. Is the money factor different among regions? Seeing NYC folks paying 0.0013, starting to wonder if I was taken advantage of - thought money factor and residue is standard that one don't have to negotiate on. The car won't be ready until March.

  • Leasing for the first time, I am puzzled on the other posts voting against down payments. I understand that it is not refundable. However, in a total loss, are you still obligated for the remaining lease obligations? If so, since down payment reduces lease obligation, isn't it better off to use down payments to reduce rent charges? Or, is it in the total loss case, insurance company pays dealer, therefore down payment will be gone?

  • Michaell@EdmundsMichaell@Edmunds ColoradoPosts: 1,063

    @charlesriver said: Leasing for the first time, I am puzzled on the other posts voting against down payments. I understand that it is not refundable. However, in a total loss, are you still obligated for the remaining lease obligations? If so, since down payment reduces lease obligation, isn't it better off to use down payments to reduce rent charges? Or, is it in the total loss case, insurance company pays dealer, therefore down payment will be gone?

    It's the latter, except insurance pays finance company car is registered to. But, same result. You are out the money.

    michaell@edmunds.com

    Moderator, Prices Paid and Leasing Experiences

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

  • Thanks Michael. Leasing is really complex for a first timer. Finally understand the magic 2400 multiplier from this website: https://www.alphaleasing.com/resources/articles/MoneyFactor.asp. I think I have been given a marked-up money factor, 0.0017, which I translates to 3% based on cap cost. Since the car is in transition and won't be available for another month, I have not signed lease agreement yet, just a purchase contract with scribbled monthly payments on it. Is there any room to renegotiate down the money factor?

    @Michaell@Edmunds said:

  • kyfdx%40Edmundskyfdx%40Edmunds Posts: 25,856

    @gfish49 said: Hello - can I get the money factor and residual for 15,000 miles a year and 12,000 miles a year on a 2014 328d? Will also be putting down the 7 max security deposits. Thanks and always appreciate your help.

    .00130 MF and 56% for 36mo, 15K/yr.

    Add 2% to the residual for 12K/yr

    Subtract .00049 from the MF for 7 MSDs

    Moderator - Prices Paid, Lease Questions, SUVs

  • kyfdx%40Edmundskyfdx%40Edmunds Posts: 25,856

    @charlesriver said: 320xi. MSRP $40,325. Invoice 37,125, Sale price $37,300. Money factor 0.0017, residue 65%. Acquisition $785, doc fee $289. I asked for 0.00125 but told it is regional (I live in Boston) and was showed a document that lists the rate for different credit level, so I took the bite. Is the money factor different among regions? Seeing NYC folks paying 0.0013, starting to wonder if I was taken advantage of - thought money factor and residue is standard that one don't have to negotiate on. The car won't be ready until March.

    They lied.. It's not regional. The base rate is .00130, and they marked it up the maximum amount to .00170. The base acquisition fee is $725. They can mark that up to as high as $925.

    There are different rates for different credit levels, but it only takes a FICO score of 675 to get BMWFS best rate.

    Moderator - Prices Paid, Lease Questions, SUVs

  • I am looking to lease a 3 series BMW ... I went to a local dealer here in NJ yesterday, and on a 39344 MSRP Selling at 38000 w/2k down my payment is coming in at 485 per month, I am seeing many people on here with higher MSRPs yet the monthly payment is lower, why is this is there something I should be asking for?

  • kyfdx%40Edmundskyfdx%40Edmunds Posts: 25,856

    Lease deals are negotiable. Dealers will rarely offer a great deal on their first offer. NJ has a lot of BMW dealers. You need to introduce some competition for your business by shopping around.

    Moderator - Prices Paid, Lease Questions, SUVs

  • konacougkonacoug Kailua-KonaPosts: 163

    @charlesriver said: Leasing for the first time, I am puzzled on the other posts voting against down payments. I understand that it is not refundable. However, in a total loss, are you still obligated for the remaining lease obligations? If so, since down payment reduces lease obligation, isn't it better off to use down payments to reduce rent charges? Or, is it in the total loss case, insurance company pays dealer, therefore down payment will be gone?

    Your CA lied to you the base rate is .00130. The acquisition fee covers gap insurance on the lease, in the event of total loss. If you put down a large amount of money to achieve a lower interest rate, you lose it all, if something happens to the car. You are much better served to put down Multiple Security Deposits, for each MSD, it lowers the mf by .0007. You can put a max of 7 MSD's down for a total reduction of .00049. This will effectively lower your payment in the range of $40-50 per month.

    If you already took delivery of the car...I would request an appointment with the General Manager and tell him you were outright lied to about the money factor. I would not let this go!

  • konacougkonacoug Kailua-KonaPosts: 163

    @joomlarocks said: I am looking to lease a 3 series BMW ... I went to a local dealer here in NJ yesterday, and on a 39344 MSRP Selling at 38000 w/2k down my payment is coming in at 485 per month, I am seeing many people on here with higher MSRPs yet the monthly payment is lower, why is this is there something I should be asking for?

    First mistake you made was going down to the dealer....you should always negotiate via email, once you are in the dealership, they have a lot more leverage on you, unless you are a very savvy buyer and can recognize a bad deal and walk away. I can tell you the selling price is awful. It would behoove you to read up on all of the variables in BMW leasing. An educated buyer/leaser will save thousands over anyone walking into the dealer ship and making an uniformed deal. That way you won't come back here and ask "did I get a good deal" In reality you should know long before you sign the papers.

    I could write a ton of stuff here, but I have posted everything you need to know to make the best deal you can. Go online, here, build the car, see what the invoice is, email offers to local dealers internet depts. Ask for detailed itemization of all fees, use MSD's to lower the money factor.

  • I have not taken delivery as the car is still on the boat not in stock yet, but I did pay $500 deposit though the lease agreement won't be signed until the car gets in. I will call the sales manager but not sure what my leverage is if he won't budge.

    @konacoug said:

  • My experience with Boston BMW dealers: as soon as you talk numbers, they stop replying your emails. Very different from honda/Toyota dealers. //sigh

    @konacoug said: I could write a ton of stuff here, but I have posted everything you need to know to make the best deal you can. Go online, here, build the car, see what the invoice is, email offers to local dealers internet depts. Ask for detailed itemization of all fees, use MSD's to lower the money factor.

  • MIAdealsMIAdeals MiamiPosts: 2
    Hello, can I please get the money factor & residual values for the 2014 320i for 12K/36 mos. and 12K/24 mos.? Thank you!
  • kyfdx%40Edmundskyfdx%40Edmunds Posts: 25,856

    @MIAdeals said: Hello, can I please get the money factor & residual values for the 2014 320i for 12K/36 mos. and 12K/24 mos.? Thank you!

    .00130 MF and 64% residual. 24 month residual is 70%.

    Moderator - Prices Paid, Lease Questions, SUVs

  • tirath5utirath5u Posts: 5

    Apologize if this is out of place but had a question: I am looking to buy a CPO 2012 BMW 328i Convertible it has 8710 miles on it and clean CarFax report with only one owner. It has the following options: - Premium package - Navigation with voice - Harman Kardon Music system - dynamic Cruise Control, - BMW Assist with Bluetooth - BMW Teleservices - iPod and USP adapter - Automatic Climate Control - Voice Command - Real Time Traffic Information - Run-Flat tires.

    The car is only sale for $36,888. I like the features and the mileage and kind off really want this car. Is there room for negotiation on the price? I checked Edmunds TMV, Truecar, KBB it says the car is valued at 41K with this configuration and mileage. This is in Florida. Please let me know if you guys think this is a good deal and if I can negotiate to bring the price down.

    thanks

    T

  • ms25ms25 Posts: 3

    Hello. Could I get a reaction to this lease offer on a 2014 328xi (premium and cold weather packages), please? Any advice on how much lower I could go on either due at signing and/or monthly payment? (FYI - this is in NY)

    MSRP: $44,800 Sale price: $38,212 $389/mo $2500 due at signing (including first month) Term: 36 months, 10K miles/yr Money Factor: 0.0013 Residual: 60%

    Thank you!

  • MIAdealsMIAdeals MiamiPosts: 2
    Thank you!
  • kyfdx%40Edmundskyfdx%40Edmunds Posts: 25,856

    @ms25 said: Hello. Could I get a reaction to this lease offer on a 2014 328xi (premium and cold weather packages), please? Any advice on how much lower I could go on either due at signing and/or monthly payment? (FYI - this is in NY)

    MSRP: $44,800 Sale price: $38,212 $389/mo $2500 due at signing (including first month) Term: 36 months, 10K miles/yr Money Factor: 0.0013 Residual: 60%

    Thank you!

    Does that include sales tax?

    Moderator - Prices Paid, Lease Questions, SUVs

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