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BMW 6-Series Lease Questions

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  • No problem, knottyhottie. It sounds like this deal is being run through a bank other than BMW Financial Services. I don't know what sort of residual value this bank is using for this car, but its money factor is lower than BMW's. A $2,000 discount on this car sounds reasonable to me. I just ran a sample 36 month, 15,000 mile per year lease on this car using BMW Financial Services' current program and I came up with a zero down, pre-tax monthly payment of around $1,265. I don't know how much sales tax added onto your monthly payment, but you actually may be better off leasing this car through BMW FS.

    Car_man
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  • It's zero down, with $0 cap reduction. I'm in Orange County. The payment that the manager gave me was with a 39 month lease, tax not included. I just have to pay the security deposit of $2,173. What are your thoughts? Thanks for your help :D
  • Hi Car_man, the manager told me he's using US Bank for the deal b/c my credit is good. The quote he gave me was for a 39 month lease, with zero down and 15K miles per year. If the money factor is lower with this bank, why would the payment be higher than through BMW FS? Unless the residual value US Bank has is lower than BMW FS, right? Thanks for your help :D
  • Knottyhottie,

    The dealer is marking up the MF on you. And yes, USB does have a lower residual. Outside banks have a much more reasonable residual than manufacturer programs. You can get more off than $2000. I bought one in Atlanta last week for $4800 off. Tell the dealer they need to do at least $4000 off to get the deal done. They can do it.
  • guestguest Posts: 774
    Ok so 5k off on a 06 is a good deal or 5k off on a 07...I got 24k off a 102k 2005 SL500 last year go figure...I guess the 6'ers are more rare.

    I want to lease a black low optioned conv. before the end of the year...I'm in LA
  • Hey knottyhottie. You're right. If the money factor that is available through U.S. Bank is lower than the one that is currently available through BMW Financial Services, the only reason why a lease through it would be more expensive is if its residual values are lower.

    Car_man
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  • Hello,
    I am new to the forum, but have enjoyed edmunds website for years.
    I found your forum and see you have given excellent advice on lease information regarding the 650. My questions may be repetitive , but your advice would really help me with this as this car is quite expensive for me to lease.
    My best price on an 2007 650 convertible, with a sticker of 86690 is a net cap cost of 83191.
    out of pocket is 3900. lease terms 12k miles/36 months, residual 63% money factor .00337, Is this a good deal or can I do much better, my sales tax is 8.1%, payment 1370/mo

    Thanks for the information, it is much appreciated as I am also somewhat new to leaseing.
    Steve
  • Car Man,
    Just curious if you know what a good customer choice monthly would be on an '07 M6 with a sticker of about $109k. I currently have an '05 645ci and am in good shape getting out of it break even. I am willing to put down $5 - 10K if necessary to bring the monthly down. I have seen ads on E-bay for new M6 leases at $1599 per month with zero down. Is that reasonable??? Residual value is huge on the M's, and with the past two I owned befor ethe 645 it kept monthly a bit lower. Thoughts??
    Thanks very much!
  • Welcome Steve. One of the reasons that this car is so expensive to lease is that BMW is not currently providing any sort of lease support on it. 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. Its buy rate standard factor varies by region, but should currently be around .00320 for consumers who pay a security deposit at lease signing. This is equivalent to an interest rate of around 7.68%. The factor that you were quoted looks OK if you are having your car's security deposit waived, but is a little high if you aren't (BMW FS will waive its security deposit requirement in exchange for a .00015 money factor increase).

    As far as this car's selling price goes, you are being given around a $3,500 discount on a car that has a spread of around $6,500 between its full MSRP and dealer invoice price. This leaves around $3,000 for the dealer. I am not intimately familiar with what the market for this car is right now, but this looks like a reasonable deal to me.

    The bottom line is that this deal looks about right for this car to me.

    Car_man
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  • Hi doclonghorn. I would be happy to estimate what the lease payment would be like on this car for you. In order for me to do so I need to know its approximate selling price. For now I will assume that you are getting a $3,000 discount on it. If you are able to negotiate a better price, the payment will be lower than what I come up with and vice versa. According to my calculations, if you were to lease a 2007 BMW M6 Convertible with an MSRP of $109,000 and a selling price of $106,000 through BMW Financial Services right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $1,675.

    Car_man
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  • Car_man,

    I've noticed you're quite educated in BMW leases. I have a few questions if you don't mind. I'm looking into leasing an 07 650i coupe auto or manual for 36mos 10k mi yr, or whichever term that is 36 mos or less MAX 39 to give me the best scenario. With MSRP of 85595 I believe (hoping for 3-4k off msrp) with minimal down what would the payment?? I'm located in Central CA tax rate is 7.25% 720 score. I'd be interested in knowing the residual & MF through BMW FS & acq fee and/or sec deposit. I want the Sport pkge, criuse, comfort access, heads up, heated seats, active steering and I think that's it if that helps you any...thanks in advance!
  • Car_man,
    Help. I'm trying to determine if the lease deal I'm being offered is decent. Am looking at a 2006 650i convertible with 2600 miles. Am being offered a lease factor of .00407 (approx. 9.77%?)by the dealership. Our tax rate is 8.25% where I live and car sales price is $79K. They want $6980 down. Lease would be 36 months w/ 18,000 miles/year, resulting in $1661.27/month. Does this seem like a reasonable deal or am I being taken for a bit of a ride?
  • I just want to let you know, I was offered a deal on a new 2007 650i coupe, msrp of 81,500 something and sale price of 76900 only 2k down 1357 plus tax...Money factor of 3.62 through BMW of course. Get a new one, the residual will be higher & the factor lower. The conv is VERY close because of the higher residual than the coupe. I'd just get an 07 or assume someone's lease through swapalease.com. No money down and you can get some cars w/alot of extra miles!! Just qualify through the credit stuff & you'll be set to go!
  • Thanks sodais350. BMW is not currently providing any lease support on the 2007 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 program. Its buy rate standard lease money factor varies by region, but it is currently around .00320. BMW FS' current 36 month, 12,000 mile per year residual value for the 2007 650i Coupe is 59%. Using this lease program, an MSRP of $85,595 and a $3,000 discount, I estimate that this car's zero down, pre-tax monthly payment should be around $1,317. BMW FS charges a $625 acquisition fee on every vehicle that it leases. Make sure that you don't pay more than this, BMW dealers try to mark this fee up all the time. You will have to pay a security deposit that is equivalent to your car's monthly payment rounded up to the nearest $50 increment at lease signing. BMW FS will waive its security deposit requirement in exchange for an increase of .00015 in the money factor that is used to calculate your car's monthly payment.

    Car_man
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  • Hi marlasw. BMW is not currently providing any lease support on the 2007 6-Series, but the money factor that you were quoted is still too high. BMW FS' buy rate standard money factor varies by region, but it should be around .00320 or so.

    $6,980 is too much money to put down on a lease. I always advise consumers against making down payments on leased vehicles. Consumers who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered.

    What is this car's MSRP? This number will enable me to see how much of a discount you are being given on this car and to use BMW's current lease program to estimate what your monthly payment should be. Off of the top of my head, I'd say that the lease payment that you were quoted is too high.

    Car_man
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  • Carman,

    I just wanted to says thank you for this forum.
    I recently found this website and posted to ask you some lease questions.
    I have succesfully got my dream car 2007 650 vert, and I feel much better about my lease.

    I have always been nervous about "getting taken" at the dealers, because it seems the consumer has a difficult time getting all the infomation. Your current information on residual values and money factors is very helpful! I now know I did not overpay and recevied a fair deal.

    You are providing a very valuable service here, and I sincerely thank you for putting your time in and helping other people get into their dream cars at a fair and reasonable deal!

    Steve
  • You're very welcome, Steve. Congratulations on your sweet new ride. I'm glad that you found this forum so helpful. Enjoy your new ride!

    Car_man
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  • Car-man,
    I hate to bug, but you seem to be able to answer all the right questions! I was inquiring on the 650i, but before any of that, I'm in LOVE w/the M6. Now I've ran across some used ones w/3k miles or less, 06 & 07's. There seems to be quite a few around and also have seen ad's for new 07's (some up to 5k off) and a lease payment for 30mos at 1499 or 1599 w/no money down except all the driveoff stuff. If I put down 6k (includeds tax on red, lic, 1st pymnt, etc.) is it possible on a new one to get to a 1350 payment before taxes???? I really like the interlagos blue...not avail on 650i. :'( Thanks in advance, Missi
  • Hello Car_man
    I know your a big hit on here..I don't really want to waste your time. Although my ? was just like everyone else. I recently took out a BMW M6 and a 650I for a test drive. I was fortunate enough for them to let me drive the M6 around the block. Although I wanted to lease the M6. So im talking to the sales person and he's giving me a list of quotes. Then i realized i think he is taking me for a fool. He tells me to put 50K down on a 2006 BMW M6 and a 36K month lease with 1300 month..the price for the M6 was about (102K) and I just went along with it and acted like it was the best deal. Then he tells me for a 650I if i put around 20K down then Id pay around 1000K month the whole price for the 650I was about (82K)..I left there making him believe i wanted those deal. I knew it was a rip off. Could you recommend what I should be paying on a 06 BMW M6 with about 10K down price of about 102k..If you could help me i would greatly appreciate it.
  • You're not bugging me at all, sodais350. The M6 certainly is a nice car. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers 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 this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the car that you are interested in for you if you let me know what these numbers are.

    Car_man
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  • You're not wasting my time at all, brandyf1. I'm always glad to help. Did you say that the salesperson who you spoke with wanted you to make a $50,000 down payment on your lease :surprise: ?!?!? You were right to walk away from that deal. It's never a good idea to make a large down payment on a leased vehicle. I would be happy to give you an idea of what sort of lease payment you should expect to pay on this car, but I am going to have to make some assumptions. I am not very familiar with what the market for the M6 is like, so I don't know if dealers are providing discounts on it. For now I will assume that you are going to be given a $2,000 discount. I will also assume that you want a 36 month lease with 12,000 miles per year. According to my calculations, if you were to lease a 2007 BMW M6 Coupe with an MSRP of $102,000 and a selling price of $100,000 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 $1,567.

    Car_man
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  • :) Hey Car_Man
    First of all id like to thank you for taking the time to looking into it for me. I appreciate it.Well Im going to lease an 06. I wanted to aim more towrds a 5 year lease if I could. I was planning on putting (5-10K). Ya Im sure he thought he could have got more money out of me. Like i said im young and I have money and since he knows im only 18 he thinks im going too fall for whatever he tells me. Honestly I was at first thinking of putting 50K down like he said. But then yea i came to my senses. I was going ot try to aim at 1K payments.. if i could do it.

    Any suggestions of what you think I should put down on a 06 lease? for 1K payments?
  • Hey im not sure if it was you or not..did you mention you were from the Valley???
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, brandyf1. I still think that you are better off putting as little money down as possible on your lease. You can always use the money that you would have used to make the down payment that you are considering making to supplement your monthly payment if you want.

    Car_man
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  • tonyg9tonyg9 Posts: 9
    07 650 Coupe
    Spt. pkg.
    Cd. wth.
    Auto
    C.A.
    HUD
    HD Radio
    Sat. Radio
    Logic

    M.S.R.P. 81,440
    Neg. Price 77,000
    Resi. 59%
    M.F..00315
    Mileage 12k
    36 mo.
    2,000 T.O.
    Pymt. 1,316 tax incl.

    Should I pull the trigger? :confuse:
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi tonyg9. The car that you described has a spread of around $6,400 between its full MSRP and its dealer invoice price. The discount that you were quoted, $4,400, looks pretty good to me. The money factor is slightly high though. BMW Financial Services' current buy rate lease money factor for a 36 month lease of a 2007 BMW 650 Coupe is .00285 with the payment of a security deposit at lease signing and .00015 higher than that with the deposit waived. Try to get the dealer that you are working with to use the buy rate to calculate your car's monthly payment.

    Car_man
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  • Hi Car Man

    Looking at a 2007 650i msrp $77,750 -- what price would be a good deal if I pick up in Munich - looking at zero down 36mo lease 10K a year -- buying in Florida
  • raja2raja2 Posts: 2
    Hey Car Man,

    I wrote you a while back. I think I am going to skip the M6. Don't think it is worth the extra $$. Anyway, I got this quote I would like you to review. Tell me what you think.

    I don't know if this makes a difference, but they don't have the car in stock and I would need to order it from Germany. Thanks in advance for your time and effort.

    So here it is:

    2 year LEASE/ 15K Miles/ $0 down

    Sticker $85220.00
    Neg price $79605.00
    Net Cap Cost $79605.00
    Adj Residual $55891.40
    Money Factor(that I was told): 0.00240
    Monthly lease Charge $325.19
    Base Payment: $1313.26
    Monthly Tax: $101.78
    Total Payment: $1415.04 monthly

    In addition, could you tell me if you think I could talk the price down even further? How much wiggle room do I have?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey raja2. The 2007 BMW 650i Coupe has a spread of around $6,000 between its full MSRP and its dealer invoice price. The $5,600 discount that you were quoted looks like a very good deal to me. BMW Financial Services' June buy rate lease money factor for a 36 month lease of this car is .00285. If you like the car, I personally don't see any reason not to go for it.

    Car_man
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  • lamplamp Posts: 20
    Hi Car_man, do you know what is the current money factor on 6 series?
    We were told (over this past weekend) that it is 0.00315
    we test drove a 6 series with no options, msrp 75.5k and was offered at $73.5k and with a 15k mile per year 36 mo. lease, the quoted monthly payment is around $1312 after 8.25% sales tax.

    Is this a good deal?

    Thanks!
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