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2013 and earlier BMW 7-Series Lease Questions

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  • nik11nik11 Posts: 8
    Car_Man,

    Thanks. No dealer Houston giving me buy rate even with near perfect credit score. Offering .00265, with multiple security deposits can get it down which i will do, maybe 4 deposits to around .00222.

    Also in TX so tax on whole purchase price of car adds 120$ a month to payments as well. After all taxes included getting price $1210.

    The money factor rate is getting me.

    Is the deal worth it, do you think incentives may improve Nov/Dec?

    Also do you think I should maybe negotiate on car on the lot trying to get to same net cap cost, because this month there is tax credit which will save me 4300$ or so and car with hiugher MSRP/residual will also help bring down payments.?

    The monthly paymeny price not that big issue with me just want to know I am getting a good deal or not befor I pull the trigger, thanks.
  • Car-Man,

    Any chance you have the MF and residual for a 3 year lease of a 740i, 12k miles per year? I believe the figures for October were .00210 and 57%, but I am guessing that the numbers were recently updated (for November)? Also, it appears that there currently is a $2,500 cash back incentive. Do you think I could realistically negotiate the purchase price down to the invoice price, given this incentive -- that is, even if the dealer gives me the car at invoice, do they still end up with $2,500 profit with respect to the lease?

    Thanks much.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited November 2010
    Hi nik11. To me, the ideal deal on this car would be the use of the buy the lease money factor and a selling price of around $1,000 over invoice. This may not be possible in your area. Have you tried shopping around? Shoot for a deal as close to this as possible.

    OH by the way, BMW just introduced a $2,500 cash incentive on this car for the month of November. This cash should enable you to negotiate a much more attractive selling price than you were able to get last month.

    Car_man
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  • I certainly do, zellamsee. BMW Financial Services' November buy rate lease money factor and residual value for a 36 month lease of a 2011 740i with 12,000 miles per year are .00220 and 54%, respectively.

    You're correct, BMW did just introduce a $2,500 holiday credit on this car. Make sure to take this cash into account during your negotiations. That means that the dealer would indeed make $2,500 on a car that it sold at dealer invoice.

    Car_man
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  • nik11nik11 Posts: 8
    Car_man,

    Thanks. I did just do the deal. I used extra $2500 incentive plus the $3200 of MRSP that I negotiated initially so got 2011 740i with only upgrade of 19 inch wheels radial spoke sapphire black for $67100. The lease is for 15K/36 month but residual dropped to 52% and MF for any dealer in Houston is .0025. I will buy this down for sure, of course they added 1200$ in fees (acquisition included and doc fee) and something called phantom footprints for 290$ that they say is required comes with all cars. Pre tax around $1090

    In TExas so pay 4300$ taxes upfront rolled into car, hopefully when all said and done monthly payment including taxes wil be 1200$
  • You're very welcome, nik11. Texas taxes are wild. I've never heard of phantom footprints before. Did the dealer explain what it is? Window etching?

    Anyhow, congratulations and enjoy your awesome new ride!

    Car_man
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  • I just got back from the dealership. 2011 750i. msrp 94775 reduced 6500 to 88275.

    2500 down.

    54% residual on 36month/36 mile lease
    .00260 factor.

    w/ tax (7%) monthly payment is about $1540/month.

    is this a good price or do I need to shop around? I bought my last car so not in a big hurry. is there a "best time" of the year to lease a bmw.

    thanks for all your help.

    Jimmy
  • When you say $2,500 down... does that mean as a down payment plus inception fees or total out of pocket?? I come up with a .00210 money factor and you should be capping the car at about $83,641.00. Brings the payment to $1,274.07 with an out of pocket of $2,384.38 plus plates. Thats a 36 month term with 12,000 miles per year. What state are you registering the car in?
  • Thanks for the reply. it is the 750iL. I put 750i before.

    I understood it to be a downpayment. i'd still have to pay the first month's lease payment. I'm in Georgia and the tax for the county is 7%.

    As an aside, I was shopping the deal and another salesman said just tell me what options you want so told him I really only want the luxury front seats, rear camera and bigger rims. Told me car would "have to be made" and would be just under 92k and that a 36 month lease w/ 12k/year is $1352 (includes 7% tax). He was giving the $2500 rebate and another 6k off that so i guess around an $84k car. (I didnt assk for residual, money factor etc so cant give to you.) Sounded like a good deal but won't do anything w/o your blessing.

    Here's another question. If i go w/ the above, he says he has to order and it will take 6-8 weeks to get here. It doesn't seem to be an unusual package. Is that normal? is he telling me that b/c none on the lot and he doesn't want to pay to ship one from out of state? could i offer to pay that costs and if so, what would it run?

    sorry for all the questions, but youre an awesome source to make sure i don't screw this up.

    Jimmy
  • Feel like I have fair offer on 750iL w luxury seating, camera and iPod only. Salesman says can't find so has to order which will take 4-6 weeks. My question its not a difficult (metallic silver) color or options and is he just not wanting to pay delivery? Is that a bargaining issue for me or can I pay to have it shipped now instead of waiting 6 weeks? If so how much would it coats me or dealer on average? Thanks.
  • kyfdxkyfdx Posts: 28,644
    They make them in Germany... they get here on a boat... They aren't waiting six weeks to ship it... they have to build it first, then it travels by truck or rail to a port.... then, they put it on a ship.. arrives in port, then travels again by truck, or rail, then truck to the dealer.. Six weeks is pretty quick.. They can't send them by FedEx.. ;)

    If he had one available now, I'm sure he would sell it to you..

    MODERATOR
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  • Thanks. Do you know how much it would costs for him or me to ship one in the US vs making one? Who normally pays for that service?
  • kyfdxkyfdx Posts: 28,644
    Assuming he can find one.... It depends on how far away it is...

    To flatbed a car from another dealer, figure $2/mile, at least.. If it's close enough to swap one and drive the other one back, then $200-$300.. Be assured, that anything that adds cost to the dealer will come out of your pocket, directly or indirectly.. No free lunch.

    But, most dealers don't keep a lot of inventory on 7-series... The typical buyer of a $90K car wants it exactly the way he wants it... Ordering a high-end BMW is typical..

    If he says he can't find one, he probably can't....

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  • 750iL silver w msrp of approximately 92k. Dealer will take off 8800. Residual is 54k and .00260 money factor. With 7% tax over 36 months at 12k a year and no money down $1352 a month. Take it or can I do better? Thanks.
  • Luxury seating, camera and 19" wheels - M.S.R.P. of $91,975.00 - Money factor should be .00205 and your residual of 54% is correct. Look for a selling price of $2,000 behind invoice and getting the $2,500 holiday cash. Selling price should be $80,735.00. With 12,000 per year and 36 month term your payment should be $1,209.45 (includes Georgia tax) with a drive off of $1,934.45 ($1,209.45 1st month and $725 bank fee) plus plates. Make sure their are no extra hidden fees.... dealer prep, doc fees, dealer conveyance fees, etc...

    Definitely order the car at the prices I am telling you. BMW Financial will lock in the program for you upon approval of your credit application so you don't lose the holiday cash. If the program gets better by the time the car comes in, your entitled to the better program. 6-8 weeks is the right amount of time. Some of the cars have even been coming in as quickly as 5 weeks! If your not getting this number then continue to shop... Learn how to shop like I do by visiting www.simplifiedcarbuying.com - I have become so good at it that its now my hobby!

    Let me know how you make out... Good Luck!
  • I'm shopping for a 2011 750 IX with luxury seating, cold weather, premium sound, camera, active cruise. 15K miles $95075.00. I was quoted 1349.46/$6646.00 down which includes sales tax and 1st month. I got this price back in July, when I went back this weekend to see how the $2500 Holiday sale would lower my price they told me the residual went down so the payment would be the same. I'm not convinced that I am getting a honest answer. Is the payment they are giving me a good number?
  • No, its not... What state are you registering the car in so I know what sales tax to use? Also, what is the term of the lease? 36 months?
  • I'm registering the car in New York 8.625 is the sales tax and the lease is 36 months
  • Just to compare apples to apples I worked the lease with the same $6,646.00 out of pocket you were quoted on. So the due at signing includes plates, reg. and a little cap cost reduction. I come to a payment of $1,222.08 per month. M.S.R.P. of $95,075.00 - selling price of $83,920.00 - residual of 52% and money factor of .00210 - its for 36 months and 15,000 miles per year. If your not getting this deal then you need to keep shopping. If your getting better than this, then your a better shopper than I am and you should be commended! Don't forget to get the wheel and tire insurance package - it pays for itself over and over again. That negotiable as well. Probably should cost you around $895. It's hard to believe I learned all this stuff from 1 source - www.simplifiedcarbuying.com -
  • Do I present this info your giving me to the dealer, not sure why they would honor what your saying?
  • They may not.... you have to find the dealer who will except this deal. It is a deal that a dealer would do. You just have to find the dealer who needs to make their quota for the month. It called being an educated shopper... I learned how to shop dealers from www.simplifiedcarbuying.com - it works!
  • Ok, after looking around I am favoring the 750Li xdrive, with the following options,
    Luxury seating, Luxury rear seating, Premium sound, Cold weather, Drivers assistance, Active Cruise Control, Rear view camera, Shadowline exterior trim.
    List price now $104375 including Destination and gas guzzler. Tax area is 8.625
    looking for 15K 36month lease What kind of number should I be getting?
  • Does BMW offer a 7,500 mile per year lease? Apparently Mercedes does (I'm also looking at a CLS).
  • kyfdxkyfdx Posts: 28,644
    10K/yr is the lowest that BMWFS offers..

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  • mcorfmcorf Campbell,OhioPosts: 8
    I am looking for info on a car that stickers for $77125. I am looking for a 36 month lease with 10,000 miles a year. Tax is 6.75%. What is the residual and money factor( Is it better for it to be higher or lower) for this car? What would be a good lease price? Thanks.
  • Hi mcorf. The higher your vehicle's residual value, the better and the lower its money factor the better.

    BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2011 740Li with 10,000 miles per year are .00215 and 55%, respectively for consumers who qualify for its top credit tiers.

    This car's payment will depend upon what sort of selling price you negotiate. The lower your vehicle's selling price is, the lower its lease payment will be. If I was in the market for a 7-Series right now, I personally would shoot for a selling price of $500 to $1,000 over invoice minus the $2,500 cash incentive that is currently available on it.

    Car_man
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  • Carman: What are the current incentives on 2010 and 2011 740s and 750s. Also, what is the residual and money factor for a 36 month lease, 15K per year miles 740 and 750. Thanks.
  • mcorfmcorf Campbell,OhioPosts: 8
    Thanks. They are actually giving me $750 over invoice.
  • Hi broham1. BMW Financial Services' January buy rate lease money factor and residual value for a 36 month lease of a 2011 740i with 15,000 miles per year are .00165 and 52%, respectively.

    The numbers for an otherwise identical lease of a 2011 750i are .00165 and 52%.

    If you are a loyal BMW customer, these cars' money factors would be .00030 lower.

    Car_man
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  • No problem mcorf. $750 over invoice sounds very reasonable to me.

    Car_man
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This discussion has been closed.