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BMW 3-Series Lease Questions

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  • marcr92marcr92 Member Posts: 10
    I'm really considering getting this car tomorrow, I think it's an awesome deal. If you have any thoughts or insights let me know.

    BMW 328i xDrive coupe
    36 months, 12k miles a year
    $529 a month, taxes in, no down payment, bank, title, DMV upfront

    Jet Black
    Premium Package (saddle brown/black dakota)
    Heated Seats
    iPod and USB adapter
  • dong84dong84 Member Posts: 24
    I think it's great deal.

    I got another deal from the dealer and I still do not think it's a good deal.

    BMW 328i coupe
    36 months 12 k miles a year
    570 a month, with 1000 down.

    White
    Heated Seats.

    Where do you live?
  • bashinbashin Member Posts: 27
    That looksl ike a really good deal. What dealer is that with? Did you get navigation? What state are you registering the car in? Is the tax on the monthly lease or the entire car's value?

    Thanks,
    Brian
  • marcr92marcr92 Member Posts: 10
    I'm in NY. I didn't get navigation for 2 reasons:

    1. All you get is navigation, no camera, it's just a cool screen.
    2. It's much cheaper to get a nice size Garmin (the new 5" ones with the dash stand or the 7" one made for vans and trucks). Plus I can transfer it from car to car.

    The tax is on the leased value.
  • dong84dong84 Member Posts: 24
    Amount due at signing: $1,089.20 (first pmt $539.20 + sec deposit $550.00)
    Payments: 1 at signing $539.20 followed by 35 @ 539.20Disposition fee $350

    MSRP $39,150
    Sale price $36,100
    Lease rate .0015
    Residual value 60% or $23,490
    License fee $218
    MD sales tax 6% or $2,172
    Doc fee $100
    Excess miles 20 cents per mile
    Mileage allowed in lease 12,000 per year or 36,000 total.

    What do you guys think? I am a college graduate, so I will have to put a security deposit. Other than that, do you think I still have a room to negotiate? I already got a $1k cash incentive for this car.

    Thanks.
  • dong84dong84 Member Posts: 24
    http://autos.aol.com/cars-BMW-328-2009/options-summary?colorChoice=85&slct=12&sl- ct=40&submit=Next+Step&trimDesc=USB90BMC051A0%3A3.0L%3A6_spd+man+w%2FOD%3AI_6

    Do you guys think that we can also get more discounts?
  • monkeyshiftmonkeyshift Member Posts: 87
    Hi Carman,
    do you have the June 09 lease rates for a bmw 335 convertible for 15k miles, 36 months?
    Thanks! :blush:
  • ericg40ericg40 Member Posts: 3
    May order June delivery 335I C step,comf, prem, sport, cold,nav,etc. MSRP $62,420 36mo 15k for ~$850/mo (includes 6% CT tax, no cap cost reduction) based on May figures. I was told that if June is a better deal, i would get the better of the two months. I wonder if someone can confirm that. Also, i know they had $1k loyalty cash (i didn't qualify) it looks like they are offering $1k on leases to anyone now - can anyone confirm this? Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Sean. BMW Financial Services' June buy rate lease money factor and residual value for a 36 month lease of a 2009 328i Coupe with 10,000 miles per year are .00150 and 61%, respectively. Let's plug a car with an MSRP of $41,575 into my handy dandy lease calculator and see what sort of payments we come up with.

    Using the above inputs and factoring in the $1,000 cash incentive, a $1,000 dealer discount would result in a zero down, pre-tax monthly payment of around $493.

    A $2,000 dealer discount would result in a payment of around $463.

    A $3,000 dealer discount would result in a payment of around $434.

    So you're going to have to find a dealer who's willing to knock at least three grand off of the price of this car to come even close to the target payment that you're shooting for.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi diegoelvis. Here's the information that you're looking for. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 328i Sedan with 15,000 miles per year are .00220 and 57%, respectively.

    The numbers for an otherwise identical lease of a 2009 328i Coupe are .00150 and 58%.

    When negotiating your lease on these cars, make sure to take advantage of the $1,260 free option credit that's available on the sedan and $1,000 cash incentive that's available on both the sedan and the coupe.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings rez2. Thanks, I'm glad that you like this forum so much. Here's the latest on the information that you're looking for.

    BMW Financial Services' June buy rate lease money factor and residual value for a 36 month lease of a 2009 328i Convertible with 10,000 miles per year are .00180 and 61%, respectively. The numbers for an otherwise identical 42 month lease are .00180 and 55%.

    BMW FS charges a $725 acquisition fee on every vehicle that it leases.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi marknog1. I'm sorry to hear about your bad experience. What you need to do is figure out exactly how much you want to pay for the car that you are interested in and find out what its lease program is like prior to visiting any dealers.

    Once you have this information, call, e-mail, or visit several dealers in person and see which one wants your business the most. To me, the easiest way to negotiate a good deal on a leased vehicle is to negotiate the lowest possible selling price and then have the dealer that you are working with calculate your car's monthly payment using its buy rate lease money factor.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mike141. If I was in an area that had a decent level of competition, like New York, I personally would want a larger discount on this car. While the selling price that you were quoted appears to be slightly under $500 over dealer invoice at first glance, it actually is more like $2,760 over invoice once the $1,260 free option credit and $1,000 cash incentive that are currently available on this car are taken into account.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I sure do, monkeyshift. Here you go. BMW Financial Services' June buy rate lease money factor and residual value for a 36 month lease of a 2009 BMW 335i Convertible with 15,000 miles per year are .00180 and 56%, respectively.

    When negotiating your lease on this car, make sure to take advantage of the $1,000 cash incentive that is currently available on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Eric. BMW Financial Services' May lease program is about the same as its June program was. The only difference is as you mentioned in late May, BMW made the $1,000 cash incentive that was originally only available to loyal customers to "conquest" customers aka "just about anyone with a pulse" as well.

    Car_man
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  • shweta1shweta1 Member Posts: 12
    The best deal that I could find in my area(Virginia/Maryland) for 328 coupe

    automatic
    black on black
    premium package
    heated front seats
    ipod-usb adapter

    is $539.92/month for 36 months 12000miles/year with no down payment at leasing excpet for first month's payment and then I am left with 35 more payments. All taxes and fees are included in monthly payment. Does it sound a good deal...

    car_men can you provide your views.
    Thanks.
  • bmwshopper79bmwshopper79 Member Posts: 6
    When negotiating your lease on these cars, make sure to take advantage of the $1,260 free option credit that's available on the sedan and $1,000 cash incentive that's available on both the sedan and the coupe.

    Carman,
    Is this $1,260 still valid on the 328i and 335i sedan? I can't find any other mention of this and Edmunds doesn't show it as an incentive. The only thing they show is a $1,000 lease cash on the 328i and 335i sedan or coupe. I'd like to buy in June or July. Which of these incentives will still be valid?
  • bmwshopper79bmwshopper79 Member Posts: 6
    Carman-

    Another question - If the MSRP is $42,570 (with options) and the selling price is $40,016, where do I apply the $1,000 and the $1,260 within the Edmunds lease calculator? Do I add them and put them in "Customer Cash Rebate"?
  • bmwshopper79bmwshopper79 Member Posts: 6
    Sorry, new to this..still trying to understand the lease process...

    Anyways, once you've negotiated the selling price, is it assummed the dealer will give the the Money Factor and Residual that you've mentioned previously, or is that something they can bump upwards and then you have to make sure you negotiate down to figures such as the ones you've given us? Are these two factors also based on your credit score?
  • bob269bob269 Member Posts: 4
    Car_man et al -

    I am looking to purchase a 328ix sedan in the next few weeks. I live in Chicago, and I am shopping several area dealers by email.

    I am looking for some specific feedback regarding what is a reasonable premium to invoice / “dead cost” for this vehicle in this market.

    I have an area dealer that is offering me $500 over his “dead cost” (i.e. invoice less $1,840 option credit for awd). Is this a good deal? Or, should I push back harder?

    Also, are there any other incentives / credits that I should be aware of? I am aware that there is $1,000 “cash” incentive if I lease.

    Thanks in advance for the help. Your prior posts have been very helpful.
  • dong84dong84 Member Posts: 24
    which dealer did you contact in md/va
  • shweta1shweta1 Member Posts: 12
    Hello Marcr92

    where did u get the deal from and is urs equipped with automatic transmission ? My options are exactly the same as urs with auto transmission and I have got deal of 539.92/month inclusive of all taxes, fees with no amount upfront except for first month's payment. Is it really possible to push dealership harder and what element could be that.
  • shweta1shweta1 Member Posts: 12
    BMW of Sterling. But they don't have the car in stock , they need to order which would take 4-6 weeks.
  • shweta1shweta1 Member Posts: 12
    Hello

    can car_men or anyone advise that the security deposit at the time of lease is refunded back at the end of the lease. Though on of the dealer is saying that it would be refunded still I just want to be sure that he is playing no game or is there any way they can refuse to pay at end. I am leasing car for the first time so unaware of these hitches.

    Thanks
  • ericg40ericg40 Member Posts: 3
    don't assume, they can certainly up the money factor (probably not on the residual, but i'm not sure). Definitely check the figures in a lease calculator. I had one dealer try to charge me a higher rate, but when the numbers didn't add up and i challenged them, they said they would give me the lower rate. Credit score can effect money factor, depending upon the lender, but not the residual. I don't know if BMW adjusts money factor or accepts/rejects leasing - car_man might.
  • investor27investor27 Member Posts: 59
    Yes. You get your security deposits back if your car is not involved in an accident or was vandelized, stolen, etc. by the end of the lease. In fact, it's better to put the maximum security deposits allowed (8) instead of a down payment (which you don't get back regardless).
  • shweta1shweta1 Member Posts: 12
    Hello

    I want to share my final deal with people visiting this forum since this forum has really helped me to understand various factors and negotiate .

    2009 BMW 328i Coupe

    Jet Black, Black Leather, Cold Weather and Premium Pkg., Automatic Transmission, Dark Burl Walnut Wood Trim, Park Distance Control, iPod and USB adaptor.

    36 months
    12000 miles/year

    I have leased it for $528/month with all taxes and fees included with security deposit of $550 which is refundable at the end of lease. There is no down payment other than security deposit and first month's payment.
    Cash Option
    MSRP: $43,650.00
    Discount: $3,400.00

    Vehicle Price: $40,250.00
    DMV Fees: $70.75
    Documentation Fee: $99.00
    Tax: $1,207.50

    Amount Due: $41,627.25

    Lease Options
    Cap Reduction 36 mos.
    $0.00 $528.43
    $1,000.00 $499.15
    $2,000.00 $469.87

    Lease Cash $1,000.00
    Annual Miles 12,000
    Residual $26,190.00

    Thanks all for posting here.
    ">
  • BeamerManBeamerMan Member Posts: 64
    Well Carman, You helped me through the last two leases so here we go again. What lease calculator do you recommend? Also money factor and residual on a 09 BMW 335I 4 dr sedan, please. I have a Cadillac coming off lease in 6 months, should I go for a left over 09 or wait for 2010's? Thanks again for everything, you are a life saver.
  • bmwshopper79bmwshopper79 Member Posts: 6
    Here's money factor and residual info for June 2009

    http://www.ridewithg.com/index.php/2009/06/09-bmw-3-series-lease-rates-june-2009- /comment-page-1/
  • bmwshopper79bmwshopper79 Member Posts: 6
    shweta - based on my calculations, you got your car slightly below invoice. was it difficult to get them to do this. was your car already on the lot or special ordered?
  • ericg40ericg40 Member Posts: 3
    Re lease calculator, this one is excellent: http://www.leaseguide.com/calc.htm
  • BeamerManBeamerMan Member Posts: 64
    CarMan, I forgot to tell you on the 335i lease I would be using 10K /year for 36 months, I am sure you would need that info, thanks.
  • shweta1shweta1 Member Posts: 12
    I live in VA and no delaer in VA or Maryland had the car I was looking for since I was not flexible on color. I wanted black on black. Yes , I did lot of negotiations but not hard. Requested quote from almost all dealers in VA and MD. Then used the smallest quote to negotiate across dealers. No one had in stock but all were ready to beat the price of other. Be smart to negotiate , you already have calculater, if need be try to make the lowest quote on your own including dealer discounts which depends and can be from $1000 to $3000 on top of $1000 cash rebate given by BMW and play with deal. I got $3400 dealer discount on MSRP. I guess I have got a smoking deal because some of the dealers could not believe it.

    Good luck
  • BeamerManBeamerMan Member Posts: 64
    Where is he, I feel like I am lost without CarMan. Is he on vacation? I need his wise support now. Hell I will pay him for his information. He led me through 3 previous lease so he is invaluable. Please come back CarMan!!!!!!!!!!!
  • mko70mko70 Member Posts: 1
    Hello,

    I am interested in leasing a 2009 328 (though possibly considering a 2010 528).

    As a rule of thumb, does it tend to be better to lease a car at a certain time of year, or a particular part of the life cycle of a given model year and is there any unique feature of a BMW lease to consider regarding timing.

    For this lease, I can do so anytime from now to Oct, and I was trying to consider if I should wait or move more quickly.

    Thanks
  • nick0703nick0703 Member Posts: 1
    Hi Carman!! I need your help. I will get BMW 328 coupe this weekend. And I saw your quote - 36 month lease of a 2009 328i Coupe with 10,000 miles per year are .00150 and 61%, MSRP of $41,575, with $1,000 cash incentive.

    Can you please calculate for MSRP of $40,300 and of $46,550 with $2,000 and $3,000 discount??

    Here is LA. Sales tax 9.25%

    Thank you.
  • orbit4orbit4 Member Posts: 7
    Hi!

    Currently I have a lease deal on 328i Alpine white, Auto, BMW assist Bluetooth, V spoke alloy wheel, Ipod connection.

    MSRP 37400
    Selling 32500

    36 month, 12000 miles/YR. $2450 Total drive off. 399/month (INC. tax, reigstration, and ect...)

    Is this good deal?

    Thank you

    Orbit4 (Southern California)
  • jamieb15jamieb15 Member Posts: 1
    I just got back from a dealer and he told me for a 2009 328i basic package with power seats that I had to put $4377 down including only first payment and have paments of $406 a month for a 36 month 15k miles a year lease. My credit is 621 and they say I don't have enough experience on my credit to lower the down payment/inception fees. It's $2500 down and the rest is inception including first month's payment.

    Is this a good deal?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi shweta1. I always find it much easier to evaluate leases when consumers provide me with the MSRP and selling price of the vehicle that they are interested in. The selling price is a very important number for consumers to know anyhow. The selling prices of leased vehicles are negotiable, just as if they were paying cash for or financing them. Without this number, it is difficult to tell how large a dealer discount you are getting. Let us know what these numbers are and I'm sure that either myself or another knowledgeable community member will be happy to tell you what they think.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes, bmwshopper79, the $1,260 incentive is still available. The $1,000 cash incentive on leases is still around as well. Both of these programs are scheduled to run through the end of the month. It is difficult to say what BMW's July programs will be like at this point.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey bmwshopper79. Negotiate the lowest selling price that you can on the car that you're interested in, as close to dealer invoice as possible, and then have the dealer subtract the available cash incentives from that.

    When using a lease calculator, you can either subtract these cash from your car's selling price before plugging it or use the regular selling price and put the cash incentives on the down payment line.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi bob269. Dealer invoice minus the available $1,840 option credit AND the $1,000 cash incentive on leases is a very good deal. Just make sure that the dealer doesn't "forget" about the $1,000 conquest / loyalty cash that is available on BMW FS leases of this car right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi shweta1. As long as you have not racked up any excess mileage or excess wear and tear charges on your leased car, BMW definitely will refund any security deposit that you make on your car at lease-end, minus its $350 disposition fee of course.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congrats on getting your new "3," shweta1. Thanks for taking the time to give back and share the details of your lease with everyone. Real world examples like this are always helpful for community members who are in the market for similar cars. If you haven't already and you have the time, make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others as well.

    Enjoy your new ride :shades: !

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome back, BeamerMan. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 335i Sedan with 15,000 miles per year are .00225 and 56%, respectively. When negotiating your lease on this car, make sure to take advantage of the total of $2,260 in cash incentives that are currently available on it.

    I personally calculate leases using a calculator that I set up in Excel using the formula that is outlined in the following article: Calculate Your Own Lease Payment. Edmunds.com has a lease calculator here as well: Edmunds.com Lease Calculator.

    Car_man
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  • wasabickywasabicky Member Posts: 2
    Hi Car man! I'm new to this forum and I wanted to get some advice from you. I'm planning on leasing a 2009 335xi Coupe and checked out a dealership to test the waters out there. I received an offer of $48100 right off the bat from an MSRP of $52250 on a 36 month $10K lease. Would be around 2857 cash down to cover fees (which included a questionable $900 bank fee imbedded in the 'other fees' that he reluctantly told us). He is also getting the car from another dealer he wouldn't tell us.
    Is that a good offer? Do you need anymore information?

    Thanks!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey BeamerMan. BMW FS' 10,000 mile per year residual values are 3% higher than its 15,000 mile per year residual values.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'm here, BeamerMan. I go through the boards alphabetically. If I'm working on the other end, it sometimes takes ma a couple of days to answer questions.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to work up a couple of sample lease payments for you, Nick.

    According to my calculations, if you were to lease a 009 BMW 328i Coupe that has an MSRP of $40,300 and a selling price of $37,300 ($2,000 dealer discount & $1,000 cash incentive) through BMW Financial Services right now for 36 months with 10,000 miles per year, your zero down, pre-tax monthly payment would be around $446.

    The payment for an otherwise identical lease of one with an MSRP of $46,550 and a selling price of $43,550 would be around $529.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jamieb15. BMW Financial Services uses a pass / fail system. Either a consumer qualifies for its special lease program or they don't. I suppose that it's possible that BMW would require a down payment from consumers at the lower end of the group that qualifies for its program, but if it does I've never heard about it. I personally would try comparison shopping with a different dealer. The huge amount of money that's due at signing may just be this dealer trying to pull one over on you.

    Car_man
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