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BMW 7-Series Prices Paid and Buying Experience

13

Comments

  • jpfivejpfive Posts: 37
    J: I can't believe you are thinking about getting a 7-series with a $1000 lease fresh out of grad school. Please tell me you are really looking at 3-series. You have to have some delayed gratification before you're partner :)
  • carnut19carnut19 Posts: 1
    I am looking to lease a 2006 750iL. Can anyone direct me to a good deal in the Chicagoland area? I am looking for a 36 month lease with 25k miles per year.

    I was quoted $1,544 for a car with an MSRP of $83,240. If I use Edmund's guide to figuring my lease payment, the lease payment should be between $1,277 (if the car is bought at invoice) or $1,430 (if the car is bought at $2,500 below MSRP). (Please note, these prices INCLUDE sales tax).

    Can anyone offer any guidance?
    Is it realistic to expect to pay invoice or near invoice?
    How accurate is the Edmunds guide to calculating lease payments? Can I really get close to invoice?
    Any dealers in Chicago hungrier than the rest?
  • vsaxenavsaxena Posts: 201
    First of all never lease a car outside warranty, especially a BMW. So you should do a 24 month lease @ 25K miles/year.

    You should consider European Delivery to save cash on the 7 series.

    And leasing in Illinois is not all that great since end up paying sales tax on the entire purchase price!
  • emauroemauro Posts: 9
    I'm looking at an msrp of 84390 36 mths 10k residual 61%
    dealer is trying to get 1261 a month, with a money factor of .00240. My calculation shows the dealer making about 6% over invoice.
    Any comments on the money factor and the margin
    also is the 1300 a month security deposit a dealer option?
  • kyfdxkyfdx Posts: 27,923
    From my numbers, I'd say the dealer is making a lot more than that...

    Do you know the selling price? What is the amount due at signing? Does the monthly payment include tax?

    You can have the security deposit waived, but it will result in an increase in the money factor... It is a better deal to make the deposit..

    I've got other comments, but I'll wait for your answers..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • emauroemauro Posts: 9
    heres the latest deal I got yesterday
    msrp 84390 cap cost 80290 includes 625 in acqusition fees
    residual 61% 10k 36 mth
    factor .0022928
    monthly including tax $1179.63
    start ups First month plus registration $1445.00
  • kyfdxkyfdx Posts: 27,923
    That is a lot better.. they are still bumping up the money factor for extra profit..

    If they used the base factor, and you made a security deposit, then the payment would be about $1064/mo.+tax..

    Don't know your tax rate, but that is what I would be shoooting for... Probably $2500-$2600 upfront, of which $1150 would be a refundable security deposit.

    Your are close to that, though... not bad..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • emauroemauro Posts: 9
    tax rate is 7%
    what is the base factor .00200?
    Can you tell me the relationship between the security deposit and the factor.
  • kyfdxkyfdx Posts: 27,923
    BMWFS sets the money factor... The base money factor (aka "buy rate") is .0020...

    BMWFS allows the dealer to mark-up the money factor for extra profit.. The maximum mark-up is .0004, resulting in a total money factor of .0024..

    If you are a first time BMW lessee, you must make a security deposit, or you may have it waived for an extra .00015 bump in the money factor..

    So... base MF with a security deposit is .0020..
    Base MF w/o security deposit is .00215

    Maximum MF w/security deposit is .0024
    Maximum FM w/o security deposit is .00255

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • emauroemauro Posts: 9
    Thanks for the info
    I am a first time bmw lessee.
    The current deal calls for no security deposit.
    What amount of security buys the rate down .00015.
    also who sets the security.
    Is it also true BMWFS is a pass/ fail and not necessarily tied to a beacon score?

    Regards,
    ed
  • kyfdxkyfdx Posts: 27,923
    The security deposit is your payment, rounded up to the next $50 increment.. The leasing company controls this..

    BMWFS has always been pass/fail in the past, but I read that they are going to start tiered rate structures.. not sure when, though...

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • emauroemauro Posts: 9
    heh kyfdx
    what do you think of this deal
    msrp 86590
    monthly $1219.33 including tax
    factor.00200
    acquisition 625.00 capitalized
    36 mths
    12k
    60% resid
    starts first ,security, $200.00 registration($2669.33)
    my calculation the dealer is making 4.92% margin over invoice $78745.00

    Do you think theirs any more room?.

    Ed
  • kyfdxkyfdx Posts: 27,923
    I get the same numbers as you, I think...

    A selling price of around $82,600

    That's about half-way between invoice and MSRP..

    Is that a good deal? No idea, really... We don't see enough sales of 7-series here to get a good feel for the market.... That is around $3850 over invoice... sounds like a lot, but I doubt that BMW dealers are willing to take skinny deals on $85K cars...

    Base money factor and acquisition fee are good... Doesn't look like any extra padding in there..

    The lease program is pretty decent right now for an '06 model at the end of the year... That is a really strong residual, and likely much higher than real-world depreciation... I'd certainly take this lease deal before I would purchase the car... Even with $43K in payments over the next three years, you'll come out ahead over buying it..

    Good luck!
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • thought you would like to know the final deal:
    2006 750LI
    MSRP $84390
    $2700 down( includes 1200 security and first month)
    36 mth 12k
    Monthly payment $1194.60 includes 7% tax.
    I've put 600 miles on the car, what a beauty.
    thanks for your input

    regards,
    Ed
  • kyfdxkyfdx Posts: 27,923
    Congratulations!!

    That must be one nice ride...

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Will soon begin negotiating BMW 750Li lease here in
    San Diego. Looking for rock-bottom gross cap and would like to shoot for 2% over invoice. Credit score 750, annual gross greater than $200K, currently leasing 2005 325i, will need at least 15K/year,and will put down deposit (2500-5000) as needed. Goal is to spend no more than $1,000 monthly. What are my chances and what else should I be doing to bring in the deal? Also, as a single person who rarely has passengers, would I do just as well with the 750i instead of the Li?
  • just bought a 04 li with 45k on it..black/black..loaded...for 40 grand..i thought i got a good deal but my cousin says i could have done better...is he right or was this a good deal??
  • looks like a good deal to me. where are you located by chance? i'm looking for a similar deal in southern california.

    RVD.
  • im actually in nyc but i bought the car on ebay..it was from phoenix az..i had it checked out thru carfax and an independent mechanic, autochex.
  • I am getting the following deal on a '06 750LI Demo/Alpine White w/gray interior/Comfort Access/Luxury Seating PKG/Rear heated seats/Rear shades/Convenience Package/Satellite Radio - 11,500 miles

    Atlanta area dealer.

    Down=$2,000
    Lease Terms=36 mo/36K miles
    Payment=$899/mo

    My question is...should I go for it or not??
  • you can confirm the deal by knowing the money factor /msrp and cap cost of the car.Also what is in the $2000 down/Is the 899 tax in?
  • located in florida. just drove the car on a 1200 mile road trip. Fantastic on the highway
  • I recently bought a Late 2003 (Aug 2003 in service) 745i blk/blk sport package with 21K miles (was a corporate executive car) for $40K.

    Is this a good deal?

    Thanks
  • I was actually seeing similiar deals, instead i opted for the 04 li, even though the mileage was higher, figured i'd rather have an 04 instead of an 03 for the same price...but your deal sounds fine to me. Enjoy!
  • this is the deal i have so far. is there any more room to go down?

    2006 750i (new)
    sport
    convenience
    comfort access
    premium sound
    luxury seating
    rear shades
    hd radio
    satellite radio

    residual 60%
    3 yr / 36k miles

    msrp: $82790
    cap cost: $77760 (edmunds says invoice is $75585)

    i am a first time leaser.

    MF is .00215 but i will add 7 refundable security deposits ($7700) to bring the MF down to .00166
    monthly: $1074 (including tax)

    drive off would be $10045
    refundable security would be $7700

    i don't think there is much room in the MF but maybe the price?

    RVD.
  • emauroemauro Posts: 9
    margin over invoice is 2.8% good
    might want to consider putting down one deposit of 1100.00
    mf would be .00200
    payment would be 1107 including tax. don't know your zip using 7% tax.
    Take the 7700.00 buy an i bond yielding 6.75 % you would be ahead $200.00 as opposed to giving it to bmw.
  • Congrats on not having one late payment (like most adults) on your curent car, but your view of the world is nuts and is going to impoverish you. Pay off the Jeep, keep it, attack the 100K loans, build equity in something, and forget about BMWs that you can't afford to rent (let alone buy).

    Starting out like this, you're going wind up like half the MDs/JDs in America: buried up to their eyeballs in debt at 60, renting luxury cars on a 36 month treadmill that they can't get off of, and unable to enjoy life or contemplate retirement.
  • Looking at a '07 750i with the following features
    Sport Package
    Luxury Seating
    Comfort Access
    Premium Sound
    Convenience Package
    High Definition radio
    Satellite Radio

    MSRP is $85,790
    "wholesale" is $79,440

    The "wholesale price" contains 2 items I am unfamiliar with (1) MACO - $380 and (2) Training Service Fee $180 - are these bogus?

    Also the Lease quote is $1500 over "wholesale" = $80,940 + $870 aquistion fee (which seems $245 too high based on the input I have seen on this forum that the acutal fee is $625) bringing the Adjusted Cap Cost to $81,810.

    Money Factor seems in line at .0020 with security deposit and .00215 without. 58% residual with 15,000 miles on a 36 month lease, also appears fair.

    My concern is the $850 in "extra fees" and if the "whlesale price" seems fair. I'm I being taken and ??
    Thanks for the input.
  • kyfdxkyfdx Posts: 27,923
    1) Training fee and MACO are legitimate invoice charges.. The training fee is on every US BMW.. MACO is an advertising fee that varies by region/metro area.. Some dealers don't have it.. but that is rare.

    2) I'm guessing the $870 includes $825 for acquisition fee and $45 for the document fee (California, right?). The acquisition fee is marked up the maximum $200 allowed by BMWFS (extra profit for the dealer).

    3) With MACO, your "wholesale" price seems pretty close.. I didn't spec it out exactly, but it is definitely in the right range ($200 +/-)

    .0020 is the base money factor... Be sure to make the security deposit... the MF bump is a bad deal..

    Taking everything into account... if you get the base MF, then the deal is under $2K over "cost".. Not bad for an $85K car..

    Did they quote you a payment? You'll want to see if the payment and the upfront money match all of the other numbers...

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Thanks for the info kyfdx, I appreciate it.

    To answer your Qs - the payment with $3,094 drive off (which includes a $1250 security deposit) is $1,239.

    Without the security drive off is $1,865 ($1229 less, not sure how that worked??) and payment is $1,261

    This is $22 per month more x 36 month = $792 over life of the lease. By my calculations if I do NOT put down the deposit I am ahead $437 -- $1228 (less drive off)- $792 (increased payment). So why would I want to put the security deposit down as you indicted?

    Thanks again,
    ajgolf
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