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BMW 3-Series Lease Questions

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Comments

  • kanchiskanchis Posts: 33
    Your invoice should be around 39325 (-8% of MSRP)
    If you are a returning customer there's a 750 credit and If I factor in then the dealer is selling you the car for roughly 1500 above invoice. If you do not have that credit as a returning BMWFS customer then the dealer is only marking up 750 over invoice.

    Bottom line is there's room to improve. Read the forums and you will see that people are paying around ~500 over invoice i think for the 3 series.
  • eyedi27eyedi27 Posts: 4
    I have ordered my wife's 335xi 300 over invoice + dealership fee (can't avoid in my state) on mid of April. Credit was ran on 4/30 and was approved. However it looks like they are trying to mark up this MF because I was quoted at 0.00169 instead of Base MF 0.00129 for April. This is exactly 0.0004 that they can mark up to. This almost means I am paying 1000 more for original plan and it makes me frustrated a bit.

    So my question is how should I deal with this MF mark up? Should I flat out say lower my MF because I think I am getting 0.00129?
  • dchabitantdchabitant Posts: 21
    The dealer I was about to buy from did the same thing. They gave me a decent deal on price, then jacked up the fees and the money factor. Don't stand for it. They are allowed to markup both the acquisition fee ($725 to $925) and the money factor, but they don't have to do that. I would insist that they don't, at least on the money factor.

    If there are other dealers in your area, shoot them an email with theprice you were quoted, and tell them that if they can match the price and give you the base money factor, they have your business.
  • swameeswamee Posts: 32
    facing the same issue! Decent selling price & reasonable dealer fees for purchase but awful add on ($2k+) to bank fees($725) almost completely wiping out the deal on sale price if I were to lease. And a MF of 1.65 on top of that! Absolutely no logic or market sense to it. My only feasible option is to buy which i'm not sure I want to
  • dchabitantdchabitant Posts: 21
    I just cancelled my order, and went with another dealer who was more upfront. Sent an email to the sales manager telling him the price I wanted, the fees I was willing to pay, and the money factor I would accept. Told him that if he met my terms, we could close the deal quickly. Got what I wanted. Maybe try the same thing.

    if you're in MD/DC/VA area, I can refer you to the person I dealt with.
  • carbuff123carbuff123 Posts: 3
    edited May 2013
    Hi All,

    I was curious if those more informed can advised me if this is a good deal. I have worked through several dealers and believe I have solidified a good deal on a 36 month lease for a 335i Xdrive Sedan with a 6 speed transmission. The only package the car has is the M sport package with Estoril blue.

    The car has the following ala cart options: Heated Seats, Navigation, Upgraded sound, and BMW Assist. The dealer is in New Jersey.

    The MSRP is $52,970
    The invoice price is $49,260
    Term: 36 Months
    15,000 miles per year
    No cash down payment
    only fees due at signing
    monthly payment $553.00

    I appreciate anyone's assistance. Thank you!!!
  • carguy778carguy778 Posts: 33
    Sounds like a good deal, but how the dealer is giving you $553/month on a invoice price of $49260? I mean sounds like a good deal.
  • eyedi27eyedi27 Posts: 4
    I would like to cancel my order but I will have to ask them to refund my "non-refundable" deposit.
  • dchabitantdchabitant Posts: 21
    Did you sign a formal lease agreement already, or just the "buyer's order"? Were you given a VIN? If you're car isn't already in production, I don't think they can refuse to refund your money. (I can't say for sure, but usually they only charge your credit card, or cash your check, once the VIN has been issued.) Moreover, a contract is invalid if there is no "meeting of the minds". If you were not made fully aware of all the terms, there IS no valid contract.

    I you want to challenge it, I think you could call BMW and let them know that you were not properly informed that the money factor had been marked up.
  • eyedi27eyedi27 Posts: 4
    Well they made me sign their "sale agreement"
    it does not have vin number just my optional package and agreed sales price.
    It doesn't say anything about Mf or residual or any finance information.
    Hopefully they will be able to lower the Mf or I am probably looking to cancel this and move on.

    It's not about paying $20 that makes me want to cancel but it dealership's usual lying behavior that makes me ticked off.

    And our car just ended production too.
  • swameeswamee Posts: 32
    thanks but that's exactly what I did!
  • egad1egad1 Posts: 1
    2013 335xi, with 13.5K miles. Premium package, Convenience package, winter package and navigation. MSRP is $52795.

    Dealer offering for $45.2K. 3 year lease. MF = 0.00129. Rebate of $1500, but doc fee and acquisition fee wipe that out. And because I live in georgia TAVT is 6%. Trading my car in so able to put $4500 down. Monthly payments come to $439/month for 12K miles.

    Any thoughts on if this is a good deal and where I can negotiate? New car similarly equipped for similar down and trade has been quoted at $540/month.

    Since this is a lease, I am not too concerned about the demo driving if I get a good deal.
  • ranjohnranjohn Posts: 17
    Hey buddy, I'm front NJ too and my term is up in 2 months. Which dealer did you go to (if you don't mind telling)?
  • swameeswamee Posts: 32
    edited May 2013
    Here's my ranking of NJ/PA Dealers. Shall describe in detail my experiences later.
    1. BMW Freehold. Good price. Professional. Easy to work with. My only grouse against them is their trade-in process for non-BMWs. They just dont have the infrastructure so you have to put up a craigslist ad or go elsewhere. In my book wont work - if you're a car dealer I dont care what you sell, you just cant get snobbish about trades.
    2. BMW Mainline. If you're the negotiating type unlike me, you can work a deal. Responsive customer service.
    3. BMW Bridgewater. Good for stuff on the lot. Not so good for custom builds.
    4. Thompson BMW.
    5. BMW Mt Laurel. Be very cautious and on guard at all times.
    6. WorldWide BMW was the worst - no response at all after a truecar offer!
  • nyccarguynyccarguy Stamford, CTPosts: 7,651
    Funny you had a bad experience with Wide World. I leased my 2011 328xi from them. They gave me a great price & $3000 more for my trade than the other dealer I was dealing with. Their service department is also top notch. I drive from CT to service my car there.

    Good luck with your 335xi 6 speed! Nice ride;)

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

  • swameeswamee Posts: 32
    edited May 2013
    Not surpised as I don't believe Truecar to be a really credible broker. My experience may have been different had I approached them straight up maybe. My friend had a good experience with Thompson so it varies depending upon which kid(internet sales) or pro you're dealing with.
    Also, a good website apart from this forum on educating and mentally pacing/bracing oneself would be fool.com ( http://www.fool.com/Car/Car.htm ). Its shocking how some of the older pieces there are still relevant. And I couldn't believe how many times the sales folks claimed they were under invoice already - are they really that insulated from these forums/websites?!
  • nyccarguynyccarguy Stamford, CTPosts: 7,651
    Not insulated, just highly trained. Just as you the consumer want to pay as little as you can, the salesman's job is to maximize profit for the dealer he or she works for. They may sound casual saying something like: "we're $1000 apart, lets just split the difference. And really, what's $500 extra over the course of a 36 month lease? Not even $14 per month." But it is calculated. For every person who "walks out" and gets their $500 on the phone the next day, there are 15 - 20 people who just say "ok."

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi swamee. There's nothing wrong with trading in a vehicle when you lease a new one. I actually did it once before myself. There can actually be a sales tax advantage in some states, even on leases, to doing so.

    However there is two important things to keep in mind when trading in a vehicle on a lease. First, I always like to keep both transactions separate. This means to negotiate a great deal on the new vehicle that you want and then see how much the dealer is willing to give you for your trade. I'm not saying to be deceptive about the fact that you want to trade something in, just to treat them as two different transactions. This keeps things simpler and prevents dealers from playing with the numbers.

    The other thing is to not use the proceeds from your trade as a capitalized cost reduction for your lease. You already know that I advise against making large down payments on leased vehicles. You can and should just have the dealer cut you a check for any equity that you have in your trade.

    As far as the money factor goes, BMW dealers are notorious for marking up vehicles' money factors, so it is very possible, perhaps even likely that the dealer will not calculate your vehicle's payment using the buy rate unless you absolutely insist that they do so. And even then it's sometimes tough :).

    $1,400 in fees seems a little steep. How does it break down? BMW Financial Services charges a $725 acquisition fee on every vehicle that it leases. This fee is unavoidable, but you should keep an eye on it because dealers sometimes try to mark it up by a couple hundred dollars as well.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Gd0t. Please send small, un-marked bills to P.O. Box...:). Just kidding. Thank you so much for the kind words. That in itself is very rewarding and very much appreciated.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go vince1313. BMW Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2013 335i Sedan with 12,000 miles per year are .00127 and 64% for consumers who qualify for its top credit tiers.

    The residual value for a lease of this car with 10,000 miles per year would be 1% higher.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here of course :) mruth. In all honesty, I've always found the pricing data here at Edmunds.com to be very good whenever I've used it in real-life situations.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi thevanguard. Here's the new May info for you. BMW Financial Services' May buy rate lease money factor and residual value for a 36-month lease of a 2013 335xi Sedan with 15,000 miles per year are .00127 and 62% for consumers who qualify for its top credit tiers.

    BMW is still not providing any cash incentives on leases of this car in May, other than the loyalty offers.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • carguy778carguy778 Posts: 33
    edited May 2013
    Thanks for all the help in this forum.

    I have managed to lease 328xi with premium, tech and cold weather package, dark burl wood trim and white and beige interior.

    MSRP 47500k ~
    INVOICE 44K
    SALE 43.5K ~
    MF 0.00129
    RV 62%
    0 DOWN
    only taxes, 3yrs tags and 200 dealer fees.

    15/36

    505/month.

    Once again, thank you all. My wife loves the car.
  • mbz01mbz01 Posts: 9
    Car_man - could you be so kind as to help me with money factor and residual on the 328ix wagon - 2014. 36 Month. 12K/ yr. Also - any suggestions on where to find dealer invoice on this car? Looked at trucar but doesn't look like they offer the info for the wagon. Many thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'm glad that everything worked out for you, carguy778. Thanks for taking the time to share a real world example like this with everyone. I hope that your wife enjoys her new ride :shades: !

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to help you out mbz01. BMW Financial Services' May buy rate lease money factor and residual value for a 36-month lease of a 2014 328xi Wagon with 12,000 miles per year are .00127 and 59% for consumers who qualify for its top credit tiers.

    You can find the pricing data for that vehicle right here at Edmunds.com :)! Here's a link:

    http://www.edmunds.com/bmw/3-series/2014/options.html?sub=wagon

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • mbz01mbz01 Posts: 9
    Many thanks. Shame the residual is so much lower than the sedan (64% vs 59% on similar 12k/yr 3 yr lease.) No wonder they sell-lease so many fewer wagons... Great forum. Thanks!
  • car_man - could you be so kind as to help me with money factor and residual on the 2013 328i sedan:

    1.) 36 Month. 15K/yr.
    2.) 24 Month. 15K/yr.

    Thanks.
  • Thanks, Car_man!
  • jeres8860jeres8860 Posts: 9
    Hi mbz01,

    I'm also in the market to lease a 2014 3 series wagon. Have you had the chance to go down to the dealership and look at numbers?

    I'm hoping to lease it for under 600 a month with tax; with less than 2500 down, with 15k. I want the tech and premium package.

    do you think this is possible given the residual they want?
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