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BMW 6-Series Lease Questions

kyfdxkyfdx Posts: 28,743
Ask your BMW 6-series lease questions here...

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  • What's the current lease program on the 650i convertible for 24 and 36 month leases at 15K/year.

    Thanks.
  • Edmund's Forum is a great place for information.

    What would be a fair lease on both autos above. 12000 miles, 36 months, zero down in NJ. What would be the money factor for a great credit rating?

    I thank you in advance for feedback.
  • Hey kevhollywood. BMW is not currently providing any sort of lease support on the 2006 6-Series. As a result, if you were to lease one through BMW Financial Services right now, you would have to use its standard lease money factor of .00280. BMW FS' residual value for a 24 month, 15,000 miles per year lease of a 2006 BMW 650i convertible is currently 69%. The residual for an otherwise identical 36 month lease is 59%. You may want to consider leasing an '05 645 Convertible. For the first time ever, BMW introduced lease support on it last month. Its current buy rate lease money factor is only .00145, plus you should be able to negotiate a bigger discount on it.

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  • I'm glad that you enjoy the forums so much, csanchez. I would be happy to estimate what your lease payments should be like on the above vehicles using BMW's current lease program for you, however in order for me to do so I need you to provide me with their full MSRPs (with the destination charge added in) and approximate selling prices. Let me know and I will let you know. See my previous post for info on what these cars' lease money factors are currently like. Thanks.

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  • Car Man: Thxs for responding, you were a great help on Lexus SC400 and GS300 that I have leased. I have seen I have seen the previous post regarding money factor which is helpful. Using BMW FS payment estimator on 2006 650i Coupe.
    MSRP 72495 (includes dest charge added, with sport pack $1800 and Cold Weather $750. Total is $75045, But BMW FS shows AMT Financed at $75670, with payments of $1376/Month for 36 months at 12000 miles, and I have a great credit rating. I realize in reading that these cars are selling at MSRP. Would $1376/month be a good price or can it be better? Again, thank you in advance for your help.
  • You're very welcome csanchez. Let's calculate a lease payment on a 2006 BMW 650i Coupe with an MSRP of $74,420 and a capitalized cost of $75,045 (with the acquisition fee added in). According to my calculations, this car should have a zero down, pre-tax 36 month, 12,000 miles per year monthly payment of around $1,180 with the payment of a security deposit. That's the payment that you should shoot for, less if you can negotiate any sort of discount.

    Car_man
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  • I am about to lease a 650 coupe (MSRP $79,400). The first quote I was given for 36 months, 15K miles a year , no money down was $1380. Any thoughts.
  • Hi rusty15. I would be happy to give you my opinion on the deal that you were quoted, however you never mentioned the selling price of the car that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment.

    Car_man
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  • The selling price is $77636.21. Thanks for your help.
  • Thanks for the additional information, rusty15. It appears as though you are being given a little over a $1,700 discount on a car that has over a $6,000 spread between its full MSRP and invoice price. As you can see, there is a lot of room to play with there. I am not sure exactly how much more of a discount you can negotiate on this car in your area right now, but you may want to see if you can get the price a little lower. For now, I will calculate a lease payment on the car that you are interested in using the prices that you were quoted and BMW's actual lease program so we can see if the dealer that you are working with is trying to mark-up your lease any. According to my calculations, if you were to lease a 2006 BMW 650i Coupe with an MSRP of $79,400 and a selling price of $77,636 through BMW Financial Services for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $1,224. Unless the payment you were quoted includes tax, or you are having your car's security deposit or acquisition fee waived something is not right with the payment that you were quoted.

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  • keno2keno2 Posts: 1
    Hi Car_man. I was hoping you could help w/ info on a lease for a 650i convertible. MSRP $84745 (including destination charge $695 and Gas Guzzler tax of $1700). Negotiated price is $81745. I'd be interested in 36 or 48 mo leases w/ 12k/yr. Thanks for your help.
  • I would be happy to help you out, keno2. Acording to my calculations, if you were to lease a 2006 BMW 650i Convertible with an MSRP of $84,745 and a selling price of $81,745 through BMW Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around a whopping $1,237. The payment for an otherwise identical 48 month lease should be around $1,190.

    Car_man
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  • I am trying to lease a 2006 BMW 650i with an MSRP of about $85,000. I'm not getting quotes like the one you gave keno2 on November 21st. I too want a 36 month lease, 12,000 miles per year, zero down. I'm gettting told that the cars are selling at MSRP and that with $5,000 down my payments including tax would be $1400. I'm in Southern California. Can you give me any tips on how to actually lease a car for the payments your talking about. I have perfect credit.
  • Hi carinm. Your car's lease payment will depend upon what sort of a price you are able to negotiate on it. If you were to lease a 2006 BMW 650i with an MSRP of about $85,000 without receiving any sort of discount through BMW FS for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment would be around $1,354. A whopping $5,000 down payment would reduce the monthly payment for this lease to around $1,200, but is not a good idea. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your 6-Series would be exactly the same, regardless of whether you had put $5,000 down, or had made absolutely no down payment at all.

    Focus on trying to get this car for less than full MSRP. A $1,000 discount would reduce the aforementioned lease payment to around $1,323 and a $2,000 discount would drop it to $1,292.

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  • Car_Man,

    Looking at a lease for either a 2005 645 Coupe or a 2006 650 Coupe, depends on the deal and availability. However what I would like to know are the Money Factors and residuals for both cars this month for a 36 month Lease with 12,000 miles per year. Can you please help? Thanks, kjw
  • Hi kjwbmwm5. If you were to lease a 2006 BMW 650 Coupe through BMW Financial Services right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00285 and 59%, respectively. The numbers for an otherwise identical lease of a 2005 BMW 645 Coupe should be a much more attractive .00145 and 58%.

    Car_man
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  • njwlognjwlog Posts: 8
    Car_man

    Do you know if BMWFS is still offering this special lease rate on remaining '05 645 convertibles?

    njwlog
  • Hey njwlog. Unfortunately, the only 2005 model that BMW is still providing lease support on is the Z4. I don't even think that BMW Financial Services will lease 2005 6-Series models any longer. If you want to lease one now, you probably would have do to so through an independent bank.

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  • Car Man,

    Here is my situation, I'm currently in a lease on a 2003 745i. I have about a year left and I wanted to trade in the car for a new 650i and my question is, am I going to take a big hit when I trade in?

    Here is what I was offered for the 650i-
    $71,890-base w/out options
    $78,545-after options
    12k/year 36 months
  • bdr127bdr127 Posts: 950
    Call BMWFS and get your 745i payoff. Don't just add up the remaining payments.... Get their payoff quote. You can get an idea of what your car might trade in for via Edmunds or KBB. FYI, auction prices right now are at an average of about $38k for 40k miles.
  • 06hse06hse Posts: 4
    I got the dealer to give me $39,000 for my car, I owe $46,000. They gave me a money factor of .00350 and residual of 57%, I feel like I'm not get the best deal with the credit rating that I have. I thought average money factor was around .00285? Anyway let me know what you think.

    Can you work out the payments for me for me?

    2006 650i
    $78545 (after options)
    12k/year 36,000 miles
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi wirefree. I can't say for certain, but I suspect that you probably will have to pay a decent chunk of change to get out of your current lease a year early. As far as the lease on the 650i that you are considering goes, I would be happy to estimate what your lease payment should be on it if you provide me with its MSRP. If the number that you mentioned in your post is the MSRP, then I need you to provide me with its selling price.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi 06hse. BMW is not currently providing any sort of lease support on the 2006 650i. As a result, if you were to lease one through BMW Financial Services right now, you would have to use its standard lease program. BMW's standard money factors have increased since you last saw them. I believe that BMW FS' standard lease money factor varies slightly by region, but in most areas it is currently .00300 with the payment of a security deposit and a $625 acquisition fee. BMW will waive its security deposit requirement in exchange for an increase of .00015 in a vehicle's money factor. BMW will waive its acquisition fee requirement in exchange for an increase of .00035 in a vehicle's money factor. If both of these items are being waived, that would bring this car's base money factor to .00350. If you are paying one or both of them, the dealer that you are working with is marking up your car's money factor to add additional back-end profit to your deal. This sort of thing is completely legal and happens all the time, but usually can be avoided by consumers who know what their car's buy rate money factor should be. I'd be happy to estimate what this car's lease payment should be for you, but in order for me to do so I need both its MSRP and its selling price. You provided one of them in your post, though I am not sure which one it was. Let me know the other and I will crunch some numbers for you.

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  • bgarbbgarb Posts: 1
    Hi Car man,

    I am looking at leasing a 2006 650 with a msrp of 79,100 for $76,660. The lease I am looking at is a five year lease that is assumable and the company says they can get me out of the lease in three years with some money to spare as their residual at the time will be $50,000 as opposed to $40,000 direct from BMW. The payments they are offering are $1,250 including tax. What do you think of this deal.

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi bgarb. Never believe a salesperson who tells you to lease for a really long term because they will be able to get you out of your lease early. It is usually fairly expensive to get out of leases well before their scheduled end dates. Salespeople tell consumers that they can get them out of their vehicles early all the time, to suck consumers into leasing vehicles that they might not normally want to lease for a shorter term because of how high the lease payment is. How does your sales person know how much your car will be worth three years from now or how much his dealership will be willing to give you for it then? He doesn't. If I was in your situation, I personally wouldn't lease this car for more than 36 models or so. Let's see what a lease payment for that length lease would be. According to my calculations, if you were to lease a 2006 BMW 650Ci Convertible with an MSRP of $79,100 and a selling price of $76,660 through BMW Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $1,204.

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  • Hi Car Man, I am in the market for a Bmw 650i with an MSRP of $73,590. This is my first time asking for a quote i have not yet searched at dealers for any prices. I thought i would get your calculations first. I want to lease the car for 36-48 months which ever is cheaper for 12k per year and 2-4k down payment. Thanks
  • seth2seth2 Posts: 1
    Hi Car Man,

    An Atlanta dealer quoted me a purchase price for an '06 650i of $75,100. For a 36mo 15k miles per year lease they quoted a monthly payment of $1415.93 but want $2600 for an initial payment they say. The rate quoted was .00343 which seems high as I have outstanding credit. This deal seems expensive considering the purchase price compared to others. What gives? Thanks!
  • drkingdrking Posts: 2
    For a purchase price of $80,400; 36 mo., 12K miles, only $160 down for registration, tag, etc. what should I expect the monthly payments before taxes to be? What rate?

    Also located in Atlanta.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi carcrazy12. I can't estimate what this car's lease payment should be without knowing what its selling price is, but I can give you an idea of what its lease program is currently like. If you were to lease a 2006 BMW 650Ci through BMW Financial Services right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be an unattractive .00300 and 54%, respectively. The numbers for an otherwise identical 48 month lease should be .00300 and 43%.

    I notice that you mentioned making a down payment of as much as $4,000 on this car. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your 6-Series would be exactly the same, regardless of whether you had put $4,000 down, or had made absolutely no down payment at all.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi seth2. This car's current buy rate lease money factor is .00300 with the payment of a security deposit equivalent to your monthly payment rounded up to the nearest $50 increment. Make sure to insist that this factor is used to calculate your car's lease payment. As far as your initial payment goes, at lease signing you will have to pay your car's first month;s payment, the aforementioned security deposit, BMW Financial Services' $625 acquisition fee, any capitalized cost reduction that you choose to make (this should be $0), and any required state taxes or fees.

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