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2013 and earlier BMW 7-Series Lease Questions

1568101132

Comments

  • zornespzornesp Posts: 3
    Actually - there's also 8.25% tax (I beleive) being added to the $79K cap price (as the car will be shipped to TX - was advised we need to pay TX taxes) - thus, there's around $6500 in taxes that have to be paid too. -- thus the $1400/month rate includes the taxes (split over 24 months)
  • iggsoiggso Posts: 28
    The $1400 a month rate is just very very high for this car right now. Also when you lease a car the only taxes paid is based on your monthly payment.
  • zornespzornesp Posts: 3
    Unfortunately - as the car will be titled and registered in Texas -- one of the #(#@(@ states that requires you to pay taxes on the FULL cap purchase price (we're down to $77K on the $89K MSRP) -- we've got ~6300 in taxes to pay over the 2 years added to our monthly lease (or write a $6200 check up front and pay the taxes separately).

    We got the MF down to .00215, acq fee to $625, and selling price to $77,290 - our monthly payments (before taxes) are $1039, Heck of a good deal.

    Working on figuring out a way to potentially initially register the vehicle in Florida while doing the finance deal (i.e. finally get around to getting a Florida license - they allow "part time" licenses and allow you to keep your state license. Register the car in Florida (Miami - Dade county is the deal place) - have the tags sent to us in Texas; and re-register the car in Texas later this year. As we have a condo in Miami - I already consider myself a "part-time" resident - we spend 3-4 months a year there; just never thought about getting a FL Drivers License.

    Anyone ever done this before?

    Will be a big savings on the monthly payment -- our monthly taxes will be arounmd $65 a month (total payment 1103) vs $262 for Texas Taxes (the 6300 / 24 months), or a payment of 1301. Nearly $200 month savings over 24 months, $4800 (or in my mind, close enough to call it $5K).

    Appreciate feedback/thoughts
  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,898
    I'm not real familiar with Texas tax regulations.. but, I think you'll have a hard time bringing in a leased car, without paying tax on it.. Even though you'll be titling it in Florida, it will be owned by BMWFS, not you...

    My guess is that it won't be any different from a Florida resident moving to Texas with a leased car.. If they are only paying tax on the payment in Florida, they'll have to pay Texas taxes on the value of the car, once they move. It's not the same as owning a car that you've already paid the full tax on..

    So... if you can lease the car as a Florida resident, more power to you... but, I think you'll have to keep the Florida registration for the entire term of the lease to realize any savings.

    regards,
    kyfdx

    Moderator - Prices Paid, Lease Questions, SUVs

  • jackk1jackk1 Posts: 9
    Two questions. I am looking at a 2008 750li with a MSRP of 91,975. Is there still an incentive for this vehicle, similar to the $5000 that was due to expire on April 30? With a cap cost of $80k what would the 24 month 15k mi. payment be using the May rates?

    Thanks.
  • iggsoiggso Posts: 28
    That $5000 has been extended to 5/5 so you still have 1 day. I believe April Rates have also been extended through 5/5.

    Cap cost of 80k is pretty good on your build, and that does mean you are getting the 5k. rebate included. I hope that is with zero down!

    Based on April rates (again extended through 5/5) your
    monthly payment should be (before taxes) $1121.91

    If you add 7 refundable security deposits your payment will be $1053.41

    Also just for example if you do 12k instead of 15k lease you will lower your payment to $1048.94 ($979.45 with 7 MSD)

    Good luck...
  • Car Man:

    1. Has the 5K incentive been extended through May?
    2. If not, was is the current promotion?
    3. What are the May residual & money factors for the 750i on a 24 month / 15K lease?

    Thanks so much for all your help! Every two years I look forward to your expertise.
  • jackk1jackk1 Posts: 9
    Apparently everything is the same as last month, except the residual has gone from 65% to 64%.

    Please post your deal if you make one. I am also looking to lease one before the June 1 price increase.

    Good luck.
  • Still offering $5000 from Factory
    3 Year 15k lease on 750i
    -Lowered Residual from 55% to 54%
    -If you are current BMW FS customer you are eligible for .0010 money factor. In the past you needed to be previous 7 series inorder to get .0010 for a new 7 series. Now you qualify for 7 series at .0010 even if you were a 5 series owner.

    Just got mine
  • Big Daddy Bruin

    Would you consider posting your details - MSRP, options and your cap cost? Also what dealership you delt with, it would be a great help to me!
  • I'd appreciate some feedback on whether I got a good deal or not.

    2008 750LI Sport. Luxury Seating, Rear Entertainment, Comfort, Convienence, Premium Sound. HD Radio, Satellite Radio. MSRP: 91,820. Cap Cost: 77,990. Paid 7x security deposit to buy down money factor to .00155. 2 year lease. Monthly payment: 1083 with no up front capital reduction.
  • fripullofripullo Posts: 9
    You got a good deal.

    My cap cost was $78.5K, $1.7K down with the same specs as yours except for HD radio and Satellite. My payments are $1,143 with tax. I went with a 3yr lease.
  • nayyernayyer Posts: 4
    Californiami can you please tell where you picked up this car from, it seems i am getting ripped off. any help woulld be great.
  • fripullofripullo Posts: 9
    Sterling BMW in Newport. Stay away from Irvine and Crevier they are not good business people.
  • I got mine at Concord BMW in Concord, California. They are easy and motivated to move the 2008 7 Series cars currently on their lot (they won't offer this deal for cars they have to order or trade for). I tried to work with East Bay BMW in Pleasanton....but would say...stay away from them.

    Just curious...you say you are getting "ripped off"....what type of deal are you getting and where are you getting it?

    Good luck.
  • nayyernayyer Posts: 4
    well i just got back from a BMW dealership. Here is the price of the car 90,575, they wont tell me the seeling price basically its like 11k off he said. 24 month lease for $1299 a month with 2,900 down let me know what u think. also deal from last night was 83k car 9k off with 20k trade allowance i have no trade thou. 24 month lease 1392 with 2,800 down . i dont know first time leasing so i really dont know what to do. maybe when of you guys cal help me out. my email is Nayyer@tahoe-partners.com. please help. or call 708-955-9107
  • gforce11gforce11 Posts: 225
    A dealer that won't give you a sale price isn't a dealer you should be working with.
    Best thing to do is not play the monthly payment game.
    Here are the June rates for most BMWs including the 7-series. Assuming you qualify for the lowest rates possible, you need to negotiate the lowest sale price possible, ask for the money factor and residual used in calculating your lease. Then plug that info into a lease formula/calculator. It may be to your best interest in doing a little research regarding leasing before you pull the trigger. It could save you thousands.
  • Agree with gforce11. Dealer has to share the capital cost (eg. selling price) with you. 11k off is not bad...but you are still leaving at least 2k on the table. Push for a low money rate (at least .0020)...anything higher, the dealer is making profit on the lease. Assume your residual is in the 66-67% range assuming a two year lease with like 12k annual mileage.

    I always use the following site for calculating the lease payment.

    http://www.leaseguide.com/calc.htm
  • ruzzruzz Posts: 1
    Could you all please tell me if I got a good deal on this - just got the car today:

    MSRP: $88,620.00 COST: $78,626 (includes $825 acquisition fee and license fee - so just the car sales price was $77,773)
    Lease: 24 months/12k miles per year, Payment including tax is $1206.95
    I paid $1850 down which included the first month payment and license fees.
    Money Factor: .00205

    Convenience Package, Luxury Seating Package, Premium Sound Package, Comfort Access, Sirius Radio
  • IMO...you got a pretty good deal. Just off the numbers you gave...seems like you got them to sell it to you at invoice...and give you a good majority of the $5k dealer incentive....didn't spec it exactly...but assume they kept maybe $1k...maybe a bit less.

    In terms of the rest...the only thing that it seems like they nickeled you on was adding $200 profit to acquistion fee and the .00005 to your money rate (I believe their buy rate was .0020). so...it was like they added 12 tenths of a percent to your interest....

    You might of considered increasing your security deposit to buy down the money rate a bit more...but again...given its only 2 years...you probably only would have reduced your monthly another 70ish bucks or so.

    But all things considered....I think you got a good deal (especially if you got the exact car you wanted!)....

    Congratulations!
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