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BMW 5-Series Lease Questions

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Comments

  • You get it back. It is a great car
  • I just leased my second 5 series and posted seven extra security deposits with each lease. I had no problems with the return of my first car and I am getting a full refund from BMW. These guys treat their customers the best in the business. As long as you return the car with normal wear and tear - I really think you will be fine. Good luck.
  • hithit Posts: 26
    I picked up my 535xi.

    Thank you for the help guys, your help saved me thousands and put me into a beautiful car. :D
  • Hi,
    Hi all - I have an opportunity to take over a lease- 2008 535xi fully loaded-6k miles- 6 months left on the lease- the car has some scratches on the Bumper, i have some doubts that is that when we return the car to BMW at the end of the Lease term, is BMW will charge us for the Scratches on the Bumper and can any one can tell me how should be the Car when we return the Car at the end of the Lease?

    Thank you
  • What you were told is correct, mobilejae. BMW replaced the holiday bonus cash that it was providing on a number of models with improved money factors.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I am thinking about leasing a 535xi with Prem, Value, Nav, Sat, which Edmunds shows invoices for $53,095 with MSRP of $57,670. Salesman says his invoice is $53,990 and says he is using $500 above invoice to calc. lease sales price ($54,490). Salesman claims Edmunds invoice price is not right but yet he agrees MSRP is correct (since I can see it on the window sticker). He shows me the "card" from which they key in the lease info with the invoice price on it, but I am more than a little skeptical. Any thoughts? :confuse:
  • Besides the new 535xi that I looked at in my prior post the dealer also has a 2010 demo 535xi with 4,000 miles on it loaded up with Nav, Prem, Logic 7, Sport, Comfort Access, Park Distance, Rear Sunshade, Value all of which makes car list for $61,395 and invoice as per Edmunds for $56,490.

    If I lease I will take 15,000 miles a year for 3 years and will not go over the 50,000 mile warranty.

    What do you think a reasonable price should be since the car is not "new"? I have no idea how to determine what is fair for the demo car since they say they would sell a brand new 535xi with less options as per my prior post for about $500 over invoice...if I can get the real invoice price out of the salesman since he disagrees with Edmunds invoice price.

    Salesman asked if I would take the demo for the same price as the new one equip with Nav, Value, Prem and Sat.

    Thanks for the help.
  • hithit Posts: 26
    edited February 2010
    When I was shopping around a few weeks ago for my 535xi, I was being offered demo cars for invoice by the dealers... The dealers are being pretty tight on the 5s because of the new models coming out shortly, and they stopped production of the xdrive 5's until fall when the new ones come out --- meaning low supply, a higher demand, and thus more of an advantage for dealers to be stricter on the pricing.
    With that in mind, know that the economy is effecting them as well, and they are more open to negotiations because they are moving a lot less cars.

    (I got a new 535xi for a few hundred under invoice a couple weeks ago)
  • jayriderjayrider Posts: 3,329
    When you lease a demo, the mf and rv are formulated by bmw specifically for that car. The numbers for new leases do not apply. Whether that's good or bad is anyones guess. I would have to save $200 per month vs new to look at that deal.
  • I had no idea that the mf and rv might be different on the demo model of the same year. The salesman made a point of telling me that my mileage allowance starts with the miles on the odometer (as if zeroed out). I think he was asking if I would be interested if the monthly payment were the same. I like to analyze the deal, so knowing the underlying numbers, ie the selling price of the car for the lease helps me determine if it is a good deal.

    Why do you say save $200 per month to look at the deal on a lease of a car that's only got 4,000 miles on it. How much in terms of selling dollars do you think that would equal if I could get a new 2010 for about $500 over invoice (less options).
  • jayriderjayrider Posts: 3,329
    I am saying $200 less on the demo vs new from my personal perspective. Can't talk for anyone else but someone else put the first 4k miles on the car which detracts from it's desirability to me. Also bmw gives them money back on that car for loaner use. Can't dissect the deal but that is what I feel is appropriate based on a brief discussion with the local BMW dealer. He said that twice a year they put the loaners on sale/lease and it should save $200 a month vs new with all the perks and rebate cash. Don't know if it was true -- never went any further.
  • My sales guy is now putting fees on this lease deal. Or, at least I think he is. Here is the break down of the deal:

    2010 528xi with premium, value, and nav package

    MSRP $51,775

    Selling price: $49,720

    Dealer acquisition fee: $725
    Documentation fee: $369

    MF: .00195
    Residual: 62%

    Wants me to start the lease by paying:

    1702 Tax
    508 registration fee
    725 acquisition fee
    369 doc fee
    659 1st month

    $3,963 one time then $659/month for 36 months.

    He says that the dealer will make $800 off this deal.

    He also mentioned DAC fee (fee for BMW advertising on tv).

    I'm so tired of dealing with this. Is there any dealer out there that could really give me an honest decent deal?

    Damn.
  • jayriderjayrider Posts: 3,329
    edited February 2010
    comments; 1. the acq fee is kosher but the doc fee may be a bit high. Illinois caps those at $152. The bigger issue is the selling price. Every 1k you save off that saves you about $30 per month. According to truecar there is another 1k or so you should be getting. That is because the 5 will be replaced in a few months. On the other hand there probably aren't too many 528xi's around so maybe you could split the difference. If your lease payment is close to 1% of msrp before fees and taxes you are doing ok. Yours is 1.3% which not very good but not horrible in today's poor leasing climate. Just watch the fees. One site mandvleasing dot com has a zero down 535xi for 605 per but only 10k miles. Check them out or other leasing brokers. Check weleasebytel as well. Free quotes. I ran your numbers and came up with 648 per month before any fees.
  • hithit Posts: 26
    Where are you?? I can recommend the dealer I picked my car from in NJ if you need, pm me.

    I was pretty tired of shopping around and wasting time on trying to get the car as well, but it paid off at the end -- got a great deal on my 535xi.
  • Hit,

    I don't see a way to PM you from this forum. You can email me at jakekim1@gmail.com. I live in Teaneck, NJ. Your help will be much appreciated. Would you believe it, yesterday my right rear tire went flat. They are runflats and will cost $400 to replace before I send the car back in for the end of the lease...
  • If anyone has this info, it would be greatly appreciated as my lease is up this month and I am hoping to see some improvement in the 535xi mf or incentives. Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi bmwagainmaybe. Here's the information that you're looking for. BMW Financial Services' new March buy rate lease money factor and residual value for a 36 month lease of a 2010 535xi with 15,000 miles per year are .00230 and 48%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jayriderjayrider Posts: 3,329
    5.52% mf and 48% rv = bad lease numbers. Probably a much better buy than lease.
  • Salesman just called and advised March 2010 535xi with 15,000 miles program as follows:

    MF .0025
    Res. 48%
    Factory Cash $6,000

    So here's the question what should the price be for the car. He says MSRP is $57,470 and SP is $53,900 minus $6,000 = $47,900 plus I get $1,500 for loyalty as cap cost reduction.

    Edmunds shows Invoice as I equip. at $53,095 including $875 destination charge. Salesman says destination is $1,375. Thus he says he is selling car for $500 above invoice.

    Payment with 8.625% sales tax rolled in is $780/mos.

    Should price be lower??
  • speedynkspeedynk Posts: 5
    Hi
    Do you have the rates for 528i in S.Cal for 36 months 12 miles.I see a previous post mentions a $6000 discount plus loyalty - the rates last month were better for 528 v. 535 - hope they're still the same

    Thanks
  • jayriderjayrider Posts: 3,329
    I figured a lease on a 2011. Guessed at .00125 mf and 54% rv. $500 over invoice cap cost and rolled in the taxes and 1300 inception fees --came up with about $854. Just guessing on the numbers. Looks like $75 more for the brand new whiz banger. If you can afford it -- why not. For $2700 you get to ride for 3 years in the next best thing. :shades: If the lower lease is in the ballpark go for that. I am guessing so I could be wrong. :confuse:
  • So I pulled the trigger tonight on the demo. I was told that it was actually the manager's car, not the loaner given to customers. Met the manager who confirmed it was his car, which makes sense because the loaners have less options. Car is mint.

    Trying to understand the numbers is no easy game on a lease, even when I ran them through a lease calculator on my iPhone and on the web. One reason the numbers get weird is because of the miles already on the "new" car and the effect on payment. I found that hidden item deep in the dealer's lease screen when we kept trying to see why my numbers were different.

    So here's what I leased: 2010 535xi, Saph. Black, Saddle Brown (not many of those around for sure) with 4,000 miles on the car. Options include Prem, Value, Nav, Sport, Comf. Access, Prem Audio, Sat, Rear Sunshade. MSRP is $61,645. Inv was around $56,895, SP is $53,900 less $6,000 factory cash plus $1,500 loyalty. MF .0025, Resid 48% on 15,000 miles/yr. Sales tax 8.625% in the lease.

    Mos. payment $785. I know the numbers seem off compared to a lease calculator, but I did shop around and was not seeing better numbers, never mind that I would not have wanted to pay a whole lot more for all the features.

    Had I leased a brand new 535xi with Prem, Value, Nav, Sat the payment would have been $780 on a $500 over invoice deal. Probably could have knocked a little more off that price.

    So, my feeling is that I got a lot of neat features on a sharp car for just a few dollars more per month. Since BMW provides free service, I can live with the 4,000 miles on the tires given the discount.

    I will pickup at the end of the month when I turn my 07 530i in. I'm looking forward to the bigger engine and creature comforts on the new BMW.

    Thanks for the help along the way. At least I don't have to do this again for 3 years.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, speedynk.

    BMW Financial Services' new March buy rate lease money factor and residual value for a 36 month lease of a 2010 528i with 12,000 miles per year are .00250 and 52%, respectively.

    I believe that BMW is currently providing $5,000 dealer cash plus the $1,500 loyalty cash on this car and that both of these cash incentives are compatible with the above lease program.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jayriderjayrider Posts: 3,329
    Glad you are happy with your new ride. You should be. Just a comment that may clear up the numbers mystery. I've had several long discussions with the local bmw dealer about the loaners he puts up for sale -- usually in july and december 4-5k miles. He said when they are leased they do the numbers on that specific car with a formula from bmw. He said they are usually $100-150 less per month than new. Each one is a bit unique because of miles and equipment. Since you got 15k miles instead of 12k, you got a great deal.
  • Jayrider,

    Thanks for the response. I was afraid to ask what you thought of the demo deal. The salesman did say that the car I leased were it not a demo would lease close to $900/mos on a $500 over invoice deal whether with Feb or March lease program. So in the words of James Brown: "I Feel Good".

    He said that since 2011 5 series will not have Xdrive until the fall, the 2010 inventory will still go fast and way before an Xdrive is available for anyone else coming off lease between now and the fall. Not to mention what the pricing will be on the new model the first few months.
  • jayriderjayrider Posts: 3,329
    Your deal confirms what my dealer said -- $115 saved per month --$4140 over 3 years. Now you can afford crown royal with those nachos instead of bud light. Ain't life grand. :)
  • speedynkspeedynk Posts: 5
    Thank-you for that prompt response - the leasing numbers are terrible- in comparison to the Feb rates and taking the $5000 dealer cash into consideration,my payments would go up $10!
    My current 528 lease ends end of April and I need my payment to go down - maybe its time to look at the Acura TL
  • mobilejaemobilejae Posts: 15
    I pulled the trigger this past weekend. I returned my 2008 328i convertible lease in and only had to pay $200. There was a scratch running all the way from my right front fender to the right rear fender. I had dings on the rims and other wear and tear. The salesguy at the dealer did not play any games. Gave me on 2010 528xi car that was MSRP $51,770 for $48,500 with 63% residual and .00195 MF. Included all the upfront fees in the lease and only paid $1K (doc fee and 1st month lease fee) and drove the car off the lot. I chose to pay more on the monthly then pay upfront. Cool sales guy. This site helped me tremendously!
  • m34lnchm34lnch Posts: 9
    Hi Car_man,
    According to Edmunds, there is build-out cash of $6000 on the 535i. But apparently it cannot be combined with leases, is that true? Is there any dealer cash (other than the Spring money) that we can combine with leases?
This discussion has been closed.