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BMW 6-Series Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi nlproductions. According to the latest information that I have seen, if you were to lease a 2006 BMW 650 Coupe through BMW Financial Services right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be around .00310 and 52%, respectively. This is BMW's standard lease money factor and it varies slightly depending what part of the country one is in.

    Car_man
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  • andysroverandysrover Posts: 2
    I have a 650 ci with 100 miles. What do you think I should get on a trade in for a 06 Range Rover SC listed at $72500. They are offering me 69K on my car. My payments would be 1250/mo for 18k miles/year. Is this payment fair? SOunds high to me. They will not budge on the rand rover from $72,500. My payoff on the 650 is $67,000.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Wow you really must not like the 650 to want to trade it in with only 100 miles on it, andysrover. I am not personally sure what you would be able to get for it as a trade at this point, but you may be able to get an idea by asking this question in the following discussion: "Real-World Trade-In Values".

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  • drleasedrlease Posts: 7
    BMW FS program is not strong on the 650's and I'm not sure why. A lot of the lower payments you are seeing are comming from outside banks. For example, I work for a leasing company, and we have a .00309, along with a 56% on a 3 year, 12k/year 650Cic.
  • Hi there, I was wondering if it was better for me to wait for the 2007 650 coupe to come out in November rather than leasing a 2006 right now? I was told conflicting advice from 2 different sales people. A sales person told me to wait for the 2007 release as it would have a higher residual value. The manager at another dealership told me that I would get a way better deal getting a 2006 since the money factor would be lower on the 2006. He also told me that he had a pre-owned 2006 w/only 2K miles on it that he could get me a great deal on.

    What do you advise? Thnaks.
  • I am just starting my work on leasing the 650i. Test drove it today and loved it. Dealer used an MSRP of 85,545 and a Cap Cost of $83,400. he used a money factor of .00325 through BMW Financing and a residual of 54% because I was interested in a 10K miles per year lease (which he said adds 3 percentage points to the residual). Can anybody tell me whether these numbers are in the range, or share any current intelligence on current residuals and money factors for this vehicle? Any other hints as to minimize the pain associated with leasing this vehicle would be much appreciated. Thanks.
  • Hi knottyhottie. When vehicles do not have any sort of lease money factor support, like the BMW 6-Series right now, it is often best to lease the brand new model, i.e. the 2007 650 Coupe, instead of a leftover model. As you were told, the 2007 650 will have higher residual values and assuming that you can negotiate a selling price that is fairly close to the price that you would be able to get a 2006 model for the higher resids will actually make it less expensive to lease. The sales manager that told you the 2006 model is the better deal because it has a lower money factor was wrong. Assuming that the dealer you are working with is not marking these cars' money factors up, they should be exactly the same.

    Car_man
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  • Hello mpdreamer. BMW is not currently providing any sort of lease money factor support on the BMW 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. BMW FS' standard money factor varies by region, but the factor that you were quoted is in the right ballpark. I would be happy to give you an idea of what this car's residual value should be like if you tell me whether you are looking at a 2007 or a 2006 model and how long you are interested in leasing for.

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  • Hi Car_Man,

    Thanks for the response. I talked to the manager again and he said that I should get the 2006 model b/c they are trying to get rid of it and I can negotiate a better selling price. He said that with the 2007, I wouldn't be able to negotiate much since it would be newly released and they never go under msrp. I know that the 07 will have higher residual values, but do you think that it's best to negotiate for the 06 or wait for the 07 with an unnegotiable price but higher res value?? Thanks.
  • raja2raja2 Posts: 2
    I am looking at leasing a 2007 M6 in a little less than a year. I spoke to one dealer so far just to get a rough estimate on what lease payments would be if the car's sales price was approximately $100K. I got some outrageous payments; $2200 (no money down) and $1739 (with $14K down) a month with a 36 month lease 15K miles a year. Does this sound right to you??

    I leased a 2005 545 (15K miles a year) a year ago with a selling price of $63K and $14K down for $513 a month. This lease is nowhere near the lease payment on the M6. The M6 is over 3x's more with the same money down. My friend suggested that since it is a rare care they can charge what they want, which I don't agree with.

    Any info and calculations would be appreciated.
  • Car_man

    Thanks for your response. I appreciate your willingness to help. The residual that I was given by the dealer for '06 was 61% because it was a 10K Maximum. I am flexible as to whether the car I lease is an '06 or '07, provided the premium for the '07 is not too high. Again, many thanks.
  • knottyhottie,

    You CAN get money off on the 07 models right now. Not only that, but you can get a lower money factor than BMW FS. I work for a leasing company and we offer 2007 650's at $2000 off MSRP. Not only that, but we can get a .00309 MF on these cars.
    the BMW FS Program on these cars is NOT the way to go.
  • Drlease,

    I've asked around a couple dealers and they don't have the 2007 650 in stock yet. Does a leasing company get access to certain cars before the dealership does? Or has the 07 650 been released in certain parts of the country already? I'm in Southern California. Also, do you have any leasing companies you can rec? Thanks for your help =)
  • I really appreciate your help and input on all these leasing questions from me! =) I got to negotiate with a local dealer on the 07 coupe which I realize would be best for me to get. MSRP is $80,240 and the residual is 55% at $44,132. The adjusted cost that they're giving me is $76,815.88. The money factor is 0.00340 for 3 years, 15K miles. They said they need $4,500 down and my monthly payment will be $1,319.11 before taxes.
    Does that sound right to you? Do you think I can negotiate down some more?? Any advice is welcome and appreciated! TIA
  • You're welcome, knottyhottie. If there is a huge difference between the selling price that you can negotiate on a 2006 model and the price that this dealer is willing to sell a 2007 model for it might be worth your while to lease a leftover '06 model. I would be happy to calculate sample lease payments on both a 2006 model and a 2007 model to show you what the difference would be like if you provide me with their MSRPs and selling prices.

    Car_man
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  • Wow, those certainly are some huge monthly payments, raja2. Given this car's lack of lease support and extremely high price, it definitely is going to be expensive to lease. I would be happy to use BMW's current lease program to estimate what your monthly payment should be like on the car that you are interested in right now. It would be a big help if you would provide me with its full MSRP and approximate selling price first though.

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  • You're welcome, mpdreamer. BMW Financial Services' 36 month, 10,000 mile per year residual value for a 2007 BMW 650Ci is 58%. The residual for an otherwise identical lease off a 2006 model is 56%.

    Car_man
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  • No problem, knottyhottie. The dealer really doesn't need a $4,500 down payment. They are just asking you for one to make your vehicle's monthly payment look more reasonable. It is actually in your best interest as a consumer not to make any sort of down payment. I always advise consumers not to make down payments when leasing because if their leased vehicle is totaled in an accident or stolen and never recovered, their down payment essentially disappears.

    The selling price that you were quoted for this car is reasonable IF it does not take the large down payment that you were asked for into account. I think that the money factor that you were quoted is slightly high, but not horrible. I just double checked the payment that you were quoted and came up with the exact $1,319.11 that you were told. So the bottom line is that this is a good payment for a lease with no down payment, but not a very good one for a lease with a $4,500 down payment.

    Car_man
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  • Hi Car_man,
    Thanks for getting back to me! =)
    I think I found a better deal at a different dealership. The msrp on this car is $81,440 and their giving it to me for $79,500 but the difference is it's a 39 month lease whereas the other dealer gave me a 36 month lease. I would prefer to have it for less months, but the money factor this dealer gave me is .00259. The GM said he'll get me the lease for $1,355. Does that sound about right to you?
    Do you think I can negotiate lower??? Thanks!
  • Knottyhottie,

    How much is due at inception? My leading bank usually does better. With $0 cap reduction, the payment is $1391.55+Tax, total due at inception is just first month and CA license Plates. If you tell me what county you are in I can give you with Tax. If that price includes tax with no money down, you have a winner. :)
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