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BMW 5-Series Lease Questions

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Comments

  • tayl0rdtayl0rd Posts: 1,938
    Leasing out of state is probably my only course of action. The only problem is, as someone above said, if I don't buy the car from them, I get no loaners. If they won't even give me a loaner for not buying from them, I can only imagine the horrible service I will receive from them. I suspect they'd try to rabbit-ear my pockets every time I went in. Good thing about that free maintenance, huh? Maybe they'd make me pay for the snacks in the waiting room. :sick:
  • lklein1lklein1 Posts: 24
    Thanks for all the feedback everyone. I have verbally accepted an offer from my local dealer after dealing w/ other dealers in Chicago and Kentucky. Most importantly the local dealer matched the verbal trade I was given in Kentucky for my Range Rover. I'll post transaction details for others once I take delivery and know I'm not being jacked around.
  • dhanleydhanley Posts: 1,531
    I imagine that if you show them the lease offer from another distant dealer, they will be more prone to play ball. And, as i said, you can always pull the "what shouldn't i just get a lexus?" line as well."

    Just use some of the good quotes that have already been posted on this list...

    Whenever i've been car shopping being noncomittal and clearly shopping around has always worked for me.

    Even talking to another salesman or the sales manager could help.
  • tayl0rdtayl0rd Posts: 1,938
    How reliable are those money factor numbers you got from Bimmerfest? Did it come from BMW? Is it actually for the month of Oct. 2006? I'm just flabbergasted that my dealer is marking up the MF so much. I mean, over the course of the lease, it would be upwards of $3,000! :mad:
  • dhanleydhanley Posts: 1,531
    They are reliable and for october--many people on the forums have gotten great leases by just using the numbers.
  • I went back to another dealer and got the .00100 rate, with a monthly lease payment of 691 on a 15k/year, 36 month lease with 2625 drive off.

    dhanley was right. The dealer's buy rate is the above and just a little pressure was all it took, so my payment went down over 50 dollars a month.
  • wth3wth3 Posts: 2
    I just received two quotes on a 530i today from a request from the internet. The dealers are both located in suburbs of Chicago. I have not been into the showroom to look at the cars yet I just researched them on the internet. So if anyone knows if these quotes are a good deal please let me know. I am waiting for two more quotes tomorrow and hope to complete the deal over the weekend.

    Westmont, IL

    530i with premium & cold weather package.

    $50,020 vehicle price
    $625 acq. fee
    $57.33 doc fee
    $3,755.80 7.75% full tax is paid in Illinois
    = $54,458 net adjusted cap cost
    $31,212 is the residual 60%
    .0014 is the money factor
    36 months
    15,000 miles
    $765.66 is the monthly payment

    Down Payment includes
    80.00 Plates
    25.00 Electronic plate transfer
    800.00 security deposit
    765.66 1st payment
    = $1,670.66 down payment

    One thing I am not sure of is the taxes are rolled in up top. If you calculate them last you save around $5.00 per month. I do not know what is standard.

    Orland Park

    530i with premium & cold weather package.

    $50,020 vehicle price
    $825 acq. fee
    $57.33 doc fee
    = $50,902 net adjusted cap cost
    $31,212 is the residual 60%
    .0014 is the money factor
    36 months
    15,000 miles
    $771.50 is the monthly payment

    Down Payment includes
    80.00 Plates
    350.00 Disposition fee
    800.00 security deposit
    $771.50 1st payment
    = $2,001.50 down payment

    Hope this helps, if anyone has any comments they would help.
  • dhanleydhanley Posts: 1,531
    Both are bad deals.

    1) Paying sticker

    2) They marked up the money factor.

    3) Disposition fee is at the end of the lease, and it is often waived, if you buy/lease another BMW. Do _not_ pay it up front.

    So:

    1) Make them lower the factor to .0010

    2) Haggle to between invoice & sticker

    3) Make six extra secutity deposits. This will lower your MF to .00058, and you get them back at the end of the lase. Good investment.

    Based on that, i get $651/mo if you roll illinois tax into the cap cost.

    You might want to buy down the cap cost by a few dollars to get your payment under 650 so your security deposits will be $650 instead of $700.

    Really, you guys are making me jealous, i'm wondering if i should stand by my decision to get a 335i coupe. :)
  • Car Man:

    Does BMW have a 39 month 36,000 mile option (with money factor and residual) or a 48 month 48,000 mile option (with money factor and residual) that I can evaluate? Monthly payments too high on 36 month leases.

    Also, any update on the November numbers (money factors and residuals) for all 5 series cars for 36 month 12,000 miles, and longer lease term leases! Thanks!. Getting numbers from Dealers is like pulling teeth - on an elephant!

    Thanks

    Armitage Mike
  • That is a very good question, shap1. Normally I do not advocate terminating existing leases early to get a new vehicle. However, BMW has a very attractive lease program on the 2006 X5 right now. It is difficult to say how long BMW will continue to offer lease support on this truck. It's current lease program is scheduled to run through October 31st. I would not be surprised if BMW continued to offer an attractive lease program on the '06 X6 in November and December. Your best option would be to lease a leftover 2006 X5 at an attractive rate in December, but there is no guarantee that this lease program will be available then. I can guarantee that the 2007 X5 will be a lot more expensive to lease when it finally arrives at dealers than the 2006 X5 is now.

    Given the attractive money factors that BMW is providing on the 2006 X5 right now, there's nothing wrong with rolling your current truck's existing payments into the cap cost of your new lease, other than the fact that you are wasting the last two months of your current lease.

    Car_man
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  • You're very welcome, strataprop.

    Car_man
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  • Hi bbmertz. You should be able to use seven multiple security deposits to lower the 530i's money factor if you want to. Dealers do not have the authority to waive BMW FS' $625 acquisition fee, but they are allowed to mark it up to add hidden profit to deals, so make sure that you don't pay more than that. I don't believe that dealers can waive the disposition fee either.

    Car_man
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  • I am 100% positive that the money factor that I quoted you is correct, tayl0rd. What rate did the dealer you are working with quote you? Chances are that they are lying to you about this car's base money factor so that they can mark its money factor up to add additional hidden back-end profit to your deal.

    Car_man
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  • Hey kindzcar. BMW Financial Services' current lease program is scheduled to run through October 31st. It is difficult to say what its new November lease program will look like, but I suspect that BMW will try to maintain a similar level of lease support to what it is currently providing on model models.

    Car_man
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  • Hi gfontenot. Let me begin by saying that $4,000 is way too much money to put down when leasing. You can and should lease any vehicle that you are interested in without making any sort of capitalized cost reduction. I always advise community members against making down payments on leased vehicles mainly because if your leased vehicle is totaled in an accident or stolen and never recovered, your down payment essentially disappears. If you have the money to make a down payment and want a lower monthly payment on the vehicle that you are interested in, you would be better off using that money to make additional security deposits. BMW Financial Services provides consumers with a reduction .00007 of in their vehicles' money factors for each additional deposit that they make, up to a maximum of seven. The beauty of making additional deposits on leased vehicles is that unlike down payments, you actually get them back at lease-end.

    I would be happy to give you my opinion on this lease, but you never mentioned the exact car that you are interested in or its MSRP. These numbers will help me give you a detailed opinion of this deal. Let me know and I'll tell you what I think.

    Car_man
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  • Hello carnutfan. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 530i with 15,000 miles per year are .00100 and 60%, respectively. Stop by the following discussion to get an idea of how much you should pay for this car right now: "BMW 5-Series: Prices Paid & Buying Experience".

    Car_man
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  • Hey Armitage Mike. BMW has a 36 month lease program on this car, but not one for 39 months. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of the 2007 530xi with 12,000 miles per year are .00160 and 60%. It is not providing support on 48 month leases of this car, but you might be interested in its special 42 month program. Its numbers for an otherwise identical 42 month lease are .00160 and 50%. This lease program is scheduled to run through October 31st. I have not heard any rumblings about what its November lease program will look like. Please feel free to check back with ma late this week and I should be able to give you an idea of what its November lease program is like.

    Car_man
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  • this morning i was offered the following lease deal at center bmw in van nuys, ca. for a 2007 530i
    msrp: 52,020 (includes premium,auto, and cold weather
    purchase price: $48,910.00 ( 800.00 over invoice)
    money factor: 1.0 (they claim this is the same as a .0010
    which translates to 2.4 apr.

    $638.00 month with $1969.00 down (includes 1st payment) or

    $704.00 month with no money down

    36 month lease with 15000 miles

    residual : 60%
  • dhanleydhanley Posts: 1,531
    Without knowing precisely what the taxes are, that sounds like a good deal!
  • tayl0rdtayl0rd Posts: 1,938
    What rate did the dealer you are working with quote you?

    If I recall, the rate they were spewing was .00219 or thereabouts. On top of that, just to get a new 550i configured the way I want below an $800 payment, they want $9,000 down! So, either these guys are extortionists or they don't know how to do leases. I'll go with the former since they claim 65% of their business is leases and they don't allow MSDs.

    Mind you, that money factor is what they were quoting me for 39 months and 10K/year! :surprise:
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