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BMW 3-Series Lease Questions

CarMan@EdmundsCarMan@Edmunds Posts: 38,515
Hi everyone. Please use the following discussion to post any questions that you have about leasing a BMW 3-Series. Thanks.

Car_man
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Comments

  • jpyjpy Posts: 9
    Car_man,

    Have you had a chance to look at the new Sept lease program?
  • Hi jpy. Yes, I have had an opportunity to take a look at BMW's new September lease program. I would be happy to give you an idea of what it is like if you tell me what model are you interested in, how long do you want to lease it for, and how many miles per year do you need to be able to drive it.

    Car_man
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  • jpyjpy Posts: 9
    Car man, Here are my numbers:

    2006 330i

    36 or 24 months

    15k per year
  • I am in the market for a 3 year/12k mile lease on a 330i (with Auto, Premium and Cold Weather). What is the Sept base money factor and residual value? I am receiving conflicting info from dealers in my area...
  • jpyjpy Posts: 9
    Does anyone have the new lease numbers (MF & Residual) for a 2006 330i - 36 or 24 months - 15k per year?

    I can't seem to get an answer....thanks in advance.

    JPY
  • kyfdxkyfdx Posts: 27,666
    '06 330i

    24 mo/15k mi – 69% Residual – Money Factor .00250
    36 mo/15k mi – 60% Residual – Money Factor .00250

    regards,
    kyfdx
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  • Hi ultimate_dm. According to the latest information that I have seen, if you were to leasen a 2006 BMW 330i through BMW Financial Services right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00250 and 62%, respectively.

    Car_man
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  • I am about to lease a 06 330i demo for 36 months and 10k per year (I plan on purchasing at the end). MSRP is 42070. I have been offered price of 38975. (will negotiate lower to about 38000-38250, otherwise i wont buy it). But the quote sheet has an adjusted residual of 26315. That number is not 62% of either the MSRP or the quoted price. How is that number calculated? It seems too high when my payments total 18536.04 (514.89/month x36) (MF is .0025). Should the purchase price at the end be lower? Is the residual the acual lease buy-out at the end? Is the buy-out negotiable?

    Also, do you think BMW dealerships should be more flexible in negotiating a sale price when they sell a demo car? The do give and extra 3months/5,000 miles on the warranty, but the car is still slightly used (1500miles). What should be the highest price I should pay on this car? I think 38975 is too high. The edmunds invoice is 38250. should that be my highest on this demo? Should I shoot for 38000? I appreciate the advice and help.

    I want to make sure i am getting a really good deal on this car since it is not "new" even though it looks perfect. I initially was going to buy a 06 325i but this demo was a seemingly good alterative. This is my first car purchase I dont want to get screwed.
  • kyfdxkyfdx Posts: 27,666
    In my experience, demos are rarely discounted enough to make them a good buy..

    But, getting to your residual question... I'm sure the residual is being reduced a certain amount, to account for the extra mileage already on the car.... Maybe $0.10, $0.15 or $0.20 per mile.... Play with the calculations and see if that makes the numbers come out right....

    regards,
    kyfdx
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  • kyfdx, (or others)
    thanks for getting back to me so quickly. I will work on the Residual numbers and figure out what is going on.

    I am interested in your statement about demos not being a good buy. Are new BMW 330i's selling for anywhere near invoice price?...ie. a 42070 Msrp selling for 38250. The dealer stated that they only give 1000 off sticker! Is that a ploy? I didnt think people got large discounts (invoice pricing) on luxury vehicles...is this a misconception.

    does leasing they car instead of buying affect the negotiated price? Should the resuidual be calculated on the negotiated price or the MSRP? BMW dealer in dayton ohio stated that the residual is based on the MSRP while my lease payments are based the negotiated price. That does not seem right to me. Thanks kyfdx!
  • kyfdxkyfdx Posts: 27,666
    1) My observation about demos was just a general one... You may find that you will get a good deal on this specific car.

    2) Residual is always based upon MSRP... because, the price you negotiate has no actual effect on what the car will be worth at lease end.. If you pay $1000 less than the next guy for the same car, they are still worth exactly the same, three years from now.

    3) Your payments are based on the negotiated price.. which should be the same, whether you lease or buy.. (There are exceptions to this, when incentives are in place, but not in this case).

    If you are leasing with the intent of buying, then the residual is not as important... But, in a straight lease deal, you don't want the residual to go down along with the negotiated price.. that would end up costing you more.. High residuals = low lease payments..

    If your intention is to purchase this car, I'd suggest shopping for the cheapest financing you can find, and just go ahead and buy it... You'll save acquisition fees, and your financing may be cheaper than the current money factor..

    regards,
    kyfdx
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  • Thank you for the answers. Very helpful indeed.

    One last question...Is it feasible to get 500-1000 over invoice price on a new, not demo, 330i with MSRP of 42,070? BMW dealers seem stuck on this "700-1000 off MSRP is the best deal you can get on these cars"? If i can get a good deal (eg. 38750 on a 42070 vehicle) on a new vs. a demo I would rather get that one. I have sent out emails requesting 2 dealers to beat the lease rate on demo on two new 330is with the same options. I guess i will see how low they will go.
    Again, Thank you very much kyfdx,

    Cheers.
  • kyfdxkyfdx Posts: 27,666
    I doubt you will get that low... Even though the car has been out since May, it is still early in the '06 model year...

    If you cast a very, very wide net, you may get $1500 over invoice... but, I wouldn't bet on it..

    regards,
    kyfdx
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  • Can anyone tell me what the estimated price range for a paint job on a rear bumper for small scratches would be? The lady came back to me with a Original Estimate of $2,000 dollars for a whole new bumper but then said she talked them into just repairing the scratches for $881.54. Does that price sound right? Ive heard of paints jobs on bumpers going between 200-600 dollars. Not sure If they are trying to take me for a ride.
  • Hello, can someone give me an idea of what the BMW 3series Sept lease program is like for a 325i/36month lease/15Kper yr. Can you also give me what would be a good montly payment for this vehicle. The only options I want are the steptronic trans, heated seats, and the rear parking distance control. Thanks a million.
  • This isn't really the right forum for this discussion, but I'd suggest you take the $881.54 quote as soon as possible and get a release of liability. If the owner of the '05 7 series figures out what her diminished value claim should be for having a paint job on a new BMW, you'll be paying a lot more.
  • There is currently a $294/ mth special on the 325 i w/ 3500 down (12,000 mi and 24 mths). Does anyone think I can get a similar value on the 325xi? I don't need anything fancy just the cold weather package/ six speed w/grey metalic paint.

    Can someone give me an idea of what I should expect for a residual value and money factor on a 24 mth lease on the 06 325 xi

    Thanks
  • Hi moneyb24. The higher your vehicle's residual value is, the lower its lease payment will be. So you are better off if your car's lease-end purchase price seems unreasonably high. Some banks will negotiate the lease-end purchase prices of vehicles from time to time. If you decide that you want to buy this car at the end of your lease, but that its purchase option price is too high you can always give negotiation a shot. If the bank won't budge, you can take consolation in the fact that you paid less for the use of your car than you should have while leasing it.

    I personally feel as though most dealers are not willing to discount demo vehicles enough. Even though demo vehicles are still technically considered new vehicles, I personally view them as nothing more than low mileage used vehicles and would want them priced as such of I was to buy one. Why purchase a used vehicle that random people have been driving and breaking in when you could have a brand new one for only a couple hundred dollars more?

    Car_man
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  • Hi cespinoza. This particular discussion is for consumers to discuss leasing BMW 3-Series models. You may be able to find out how much a new bumper for a BMW 7-Series costs by visiting the following discussion: "BMW 7-Series". I agree with the previous poster though, if you are able to get out of an rear-ending a BMW 7-Series for less than $1,000 just bite the bullet and get it over with. You're lucky that this accident wasn't reported to the police, which would have resulted in higher insurance premiums and points on your license.

    Car_man
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  • Hello crock22. According to the latest information that I have seen, if you were to lease a 2006 BMW 325i through BMW Financial Services right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00250 and 61%, respectively.

    You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the car that you are interested in for you if you let me know what these numbers are.

    Car_man
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