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BMW 5-Series Lease Questions

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Comments

  • samcitysamcity Posts: 2
    Hi,

    I got offer from dealer with the following.
    Due at signing: $6000 (including first month payment, $550 security deposit)
    MSRP: $50775 (w/ premium and xenon light)
    Invoice: not sure
    Tax: 7%
    Term: 36 months, 12K miles a year
    Monthly payment: $550

    Does this sound good deal to you? I'd appreciate your feedback. Thanks!
  • x021627x021627 Posts: 148
    do not put $$$ down on a lease....ever.....what is the down payment? nornally you would pay for security deposit, first payment, doc fees and sometimes people prepay taxes which I wouldn't do.
  • samcitysamcity Posts: 2
    Around $3800 as down payment. For everything else is drive off fees. Do you think it's good deal?

    and I tried hard to understand why I shouldn't ever make down pay. Can you advise why we shouldn't do that? Thanks!!!
  • gardisgardis Posts: 185
    Guys,
    Question on warranty: I recently got a 2007 CPO 530i, which I love. The warranty runs to end of June 2012. In service date was June 2006.

    When I was reading the vehicle manuals, I noticed in that leather bound case, a white card, size of a credit card, that was issued by BMW which has VIN, model, and IN SERVICE DATE. The in service date according to this card was January 2, 2007.

    When I questioned the dealer ( I really don't think they could or would try to fool someone on a major issue like a warranty), she told me that was not the final word on the in service date, that it was in the system.

    What is this card, and what does it mean? I cannot be the only BMW owner that has a vehicle with that white card (looks like a credit card) on the left side of the leather case holding the manuals. If I have to, I want to copy it, and send it to BMW USA and ask about it, but I don't want my dealer to feel I don't trust them as I need them for servicing, etc.

    What do you think? Is there any way I can independently check on my vehicle's in service date?
  • gardisgardis Posts: 185
    Guys, (I'm cross posting this message as this seems a much more active topic):

    Question on warranty: I recently got a 2007 CPO 530i, which I love. The warranty runs to end of June 2012. In service date was June 2006.

    When I was reading the vehicle manuals, I noticed in that leather bound case, a white card, size of a credit card, that was issued by BMW which has VIN, model, and IN SERVICE DATE. The in service date according to this card was January 2, 2007.

    When I questioned the dealer ( I really don't think they could or would try to fool someone on a major issue like a warranty), she told me that was not the final word on the in service date, that it was in the system.

    What is this card, and what does it mean? I cannot be the only BMW owner that has a vehicle with that white card (looks like a credit card) on the left side of the leather case holding the manuals. If I have to, I want to copy it, and send it to BMW USA and ask about it, but I don't want my dealer to feel I don't trust them as I need them for servicing, etc.

    What do you think? Is there any way I can independently check on my vehicle's in service date?
  • kyfdxkyfdx Posts: 27,692
    I've never seen a card like that in a BMW.

    It certainly couldn't have come with the car, because the in-service date is when the car is sold, which can't be determined ahead of time.

    Your dealer is correct that the date in the system for your VIN number is the one that governs the warranty.

    Next time you are by the dealer, take your VIN number into the service advisor, and ask him (or her) to tell you your in-service date.

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • gardisgardis Posts: 185
    Thanks for that info. Your explanation makes sense. I'm going to take it to my former service dealer BMW of Darien and ask her to put the VIN in the system and see what comes up.

    Question: if I want to warm up the engine in the winter, I usually close the door and go in the house for 10 minutes. I notice now that with this vehicle, the doors automatically lock after I"m in the car a few minutes. How can I prevent the doors from locking if I'm not sitting in the car, with the engine running? I know there has to be a way to do this. I know I should consult the OM but haven't done so yet. I'm working my way through it..........

    Thanks Kyfdx, really appreciate your input. I've learned a tremendous lot from this forum.

    Gardis - CT
  • x021627x021627 Posts: 148
    I can change it in my car in idrive. I have it set to lock the doors once I start driving.
  • jsmdukejsmduke Posts: 3
    Can anyone tell me what the current BMW Financial MF and residual % rates are for a 36 Month lease on a 2010 535I with M sport package?

    Residual for both 10K and 12K miles a year would be helpful.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi capa2. I realize that you're talking about a 2010 model and that dealers are probably more anxious to unload whatever remaining 2009 5-Series models they have, if any...but $2,000 over dealer invoice doesn't get me very excited. If I was in the market for this car, I personally would do some comparison shopping to see if I could beat this price.

    BMW is not currently providing any cash incentives on the 2010 528xi.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello ktx968. The 2010 BMW 550i's lease program is exactly the same in July as it was in June. The numbers that you mentioned in your post are correct.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Welcome Sam. Let's take a look at the deal that you were offered. The car that you described probably has a spread of around $4,450 between its full MSRP and its dealer invoice price. That puts the selling price that you were quoted at around $625 over dealer invoice, which is a pretty good deal.

    Just make sure that the dealer that you are working with uses BMW Financial Services' current buy rate lease money factor of .00155 to calculate your monthly payment and you're in business.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, jsmduke. BMW Financial Services' July buy rate lease money factor and residual value for a 36 month lease of a 2010 535i with 12,000 miles per year are .00155 and 60%, respectively. If you were to lease this car with only 10,000 miles per year, its residual value would be 1% higher.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jsmdukejsmduke Posts: 3
    Thanks Car Man! Much appreciated.
  • destifandestifan Posts: 1
    If you have a solid FICO, do you qualify for the Buy Rate? Dealer has offered .0021 and 61% residual on 2010 535xi. I have seen that the buy rate is .00155 for July. That is the number I need to see correct?
  • gregoryxgregoryx Posts: 44
    Community, i posted a message last week and would like to get some feedback on it. i have additional information. here is the final offer. would appreciate insight
    2010 BMW 535xi sedan (order) $53,400
    Monaco Blue Metallic/Cream Beige Leather Light wood trim
    Steptronic Automatic Transmssion 0
    Comfort Access 1,000
    Comfort Seats w/ Lumbar Support 1,200
    Fold Down Rear Seats 475
    Navigation System 1,900
    Satellite Radio w/1 year subscription 595
    Active Cruise Control 2,400
    Park Distance Control 750
    Premium Package (w/ZVP ) 750
    Universal Garage Door Opener
    Auto-dimming interior mirror
    Auto-dimming exterior mirror
    Ambient Light Package
    Value Package 0
    Heated Steering Wheel
    Heated Front Seats
    Retractable Headlight Washers
    iPod and USB Adapter
    Leather Dakota
    Destination and Hadling 825
    Total MSRP $63,295

    Sale Price = $58,865

    my calculation shows that the sale price is at dealer cost. thoughts?

    i'm pretty sure i'm going to go with the special offer for 2010 model year. 2.9% with the bmw select program. apparently in ohio, at the end of the term the lender has to offer the same finance rate on the ballon payment (if i decide to roll the ballon payment into another finance term).
  • gregoryxgregoryx Posts: 44
    for 2010 model year, BMW is offering the BMW Select program with 2.9% rate. they also are running special offer on lease program
  • briandcbriandc Posts: 9
    Can anyone point me to other sites where people share lease quotes and buying experiences? This site has helped me lease three cars over the last two years and love it, but the sharing of deals seems minimal right now. Maybe it’s just a sign of the slow economy. Thanks
  • ph__7ph__7 Posts: 2
    My 530i is coming off lease, and BMWFS quoted me a price $5,100 off the residual, so I'm tempted to buy it. . My original salesman is trying to me to my lease re-certified, which will give me a new set of tires, a detailing, and the 6 year, 100,000 warranty, and access to 3.9% financing. What do you think that's worth? Tires might be worth $800 or so, the detailing $200, so the question is what does the extended warranty cost if I were to just buy it myself?
  • capa2capa2 Posts: 3
    I just purchased a loaded 2010 528xi for $410 over invoice. Does anyone have any information on TST protection and whether it is worth the money?
This discussion has been closed.