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BMW 6-Series Lease Questions

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  • lamplamp Posts: 20
    oh forgot to mention, we were told that the residual value is 57%
  • m6_4_mem6_4_me Posts: 1
    Car_man

    I am in the process of leasing an M6 Convertible, 3yr/ 12k per yr and am being quoted MF in the .00320-.00325 range with a claimed buy rate of .00310. What do you think?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings to the appropriately named m6_4_me. The money factors that you were quoted look about right to me. BMW is not currently providing any lease support on the 2007 M6. Having said this, it is running a special loyalty promotion that reduces its standard money factor by .00085 for returning BMW FS lessees. If you are a current BMW lease customer, you should be able to do much better than the factor that you were quoted.

    Car_man
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  • Hey Car_Man,
    I am considering leasing a certified pre-owned 2005 645 convertible through my local dealership. I would only lease it for 36 months and 12K miles per year. Can you help me with lease rates and MF numbers and residuals on used 04 or 05 6 series coupes and convertibles? Thanks!
  • Hi icyblue1203. Unfortunately, given all of the variables that are associated with them and their general lack of popularity I personally do not keep tabs on the details of manufacturers' CPO lease programs. Sorry that I could not be of more help. One thing to keep in mind though is that CPO lease program are often not that attractive. Consumers are often able to get similar, or even better deals on leases of brand new vehicles then they are able to get on equivalent used vehicles. That may not necessarily be the case in this situation, but you definitely should get a price quote on a new 6 to compare with the price of the used 6 that you are interested in before pulling the trigger.

    Car_man
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  • Hi,

    I'm considering a lease on either 2007/2008 650Ci. How do I determine if I'm getting a good deal?

    I'm not familiar with leasing programs however, it appears BMW is offering $4500 rebates on leases of 2007 vehicles to clear them out. What should I expect the price of the car to be compared to invoice pricing? The dealer is claiming their best price is $5k over MSRP (ridiculous!) and for a 2007 model it is $1500 over MSRP.

    For a 2 or 3 year lease the

    2008 is 1400/mo with $10K down
    2007 is 1200/mo with $5k down

    Why do they add salestax to the price of the lease calculation? tax rates differ and you really dont pay sales tax if you dont buy the car...

    thanks,
  • mkp6, where are you located?

    I'd like to briefly relate the following experience:

    I got a quote from a dealer who posted a lease offer for a 6-speed equipped 07 M6 online: 30 months, 10k/year, $0 down, $1372/mo.

    Sounds good, right? Especially considering your rates on 08/07 650s. It gets better, though.

    I went to yet another dealership with that offer in hand and a laptop. The laptop had an Excel spreadsheet on it that had formulae for calulating lease details- you plug in the numbers, and it spits out the lease payment.

    Anyway, when I first showed up, before presenting any of the above, I was offered an 07 650i for $1408/mo on the terms above. They must have seen the disdain on my face as I pulled out the other offer and my laptop. I told them the 07 650i offer made no sense given the m6 offer I had in hand. I asked them to do better than the m6 offer on their own m6. I won't disclose the terms, but they DID do better- FAR better. They applied the BMW rebate to bring the price down to invoice, though, so they are still making a good amount of money... but I was satisfied with the offer.

    By the way, the offer required one month's payment. Don't be afraid to try for an 07 M6- those things are not selling and are subject to the same rebates. Some dealerships are doing very well, though, so they may not be so accomodating.

    BTW, the rebate is $4500 off of INVOICE, NOT MSRP. So if the dealer paid $91k for your car, they are in essence only paying $86,500 for it with that rebate. That should be your starting point in negotiations, not the 100k+ MSRP.
  • Thanks for the reply! I'm in northern CA. I havent really ventured out to get multiple quotes as yet, but will do so this week. From my research, it does appear that the cars are a bit cheaper in the SE, and dealers are more willing to negotiate price. I've not had that experience yet, although I have had 3 salesmen from the same dealership contact me this week, each trying to sell me a new car, claiming they have new incentives to clear out the 07 inventory.

    I have also heard from friends in the EC, that when you buy a new BMW, a weekend driving class is included in the price at the BMW driving school. I've not heard that in California. Were you offered the M driving course with your purchase?
  • This may be the case. I'm not sure if that includes the lease of a new M. I can always ask. My dealer is working on getting me another car- another salesperson sold my car out from underneath me.
  • Carman,
    Good advice so far...thanks for the previous posts. I have an offer from a dealer I would like your opinion on. 2007 M6 coupe, msrp ~109k, cap cost of 101k, residual 72% (on 2 year lease), mf .00290 and a pretax payment of $1512/month with no money down (2 years, 10k miles per year). The dealer is also willing to absorb my current lease-2006 Z4 with 14 months left at $450/month (on a 30 month lease) at no additional charge. Does this sound like a good deal to you? Anyone else feel free to comment as well. Thanks again.
  • You're very welcome, bmwfan23. The car that you are interested in probably has a spread of around $8,500 between its full MSRP and its dealer invoice price. The $8,000 discount that you were quoted looks good to me, especially given the fact that the dealer is absorbing the cost of getting you out of your Z4 lease early. BMW Financial Services' buy rate lease money factor for a 24 month lease of this car is .00270 for consumers who pay a security deposit at lease signing and .00285 with the waiver if the security deposit. That's pretty close to what you were quoted. Overall, I would say that this is a pretty good deal for this car.

    Car_man
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  • i'm looking at a lease on a new 2007 650cic msrp 94,470. the price i was quoted was 2249 at signing and 1107 for 36 mos, 100,000 yr with a residual of 58,500. Is this a good deal? Thanks
  • I'm glad you thought it was a reasonable deal, as I now have the car and love it! I look forward to spring so I can drive it every day. What a nice car!

    bmwfan23
  • 2007 m6 convertible used with 757 miles
    net cap cost-98,995
    money factor-.00205 through us bank
    1529.83/mo without tax
    residual 49%
    3 yr lease
    12k mi/yr

    Can i get a better deal?
  • I have a deal on the table for a 2007 black m6 coupe
    1725.00 down
    Payments for 30 months 10k/yr come out to 1107.14+tax=$1198.48
    Cap cost came out to $90419.35, MSRP was $102,875
    money factor is .00265 is this good?
  • Greetings dabledog. You never mentioned the selling price of the 650 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 the vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

    Car_man
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  • Hi jtrejo. Is this car technically a used vehicle or was it just a dealer demo? If it was always at the dealer and never owned by anyone it is still technically considered to be a "new" car and it would qualify for BMW Financial Services' new vehicle lease program.

    Have you gotten a quote for a similar lease of this car through BMW Financial Services? I ask because even though BMW FS' money factor for a new 2008 M6 Convertible is significantly higher than U.S. Bank's (.00270 versus .00205) its residual value is much better (62% versus 49%). You definitely should compare the two options before committing to one.

    Car_man
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  • Hi jtrejo. The money factor that you were quoted for this car looks good to me. It is right in line with BMW Financial Services' buy rate for a 36 month lease of this car to a non-returning customer with a waived security deposit. This is a good sign.

    Now let's take a look at the other important aspect of this deal, the selling price. A 2007 BMW M6 Coupe that has an MSRP of $102,875 probably has a dealer invoice price of around $94,945. When we subtract the $4,500 dealer cash that BMW is providing on leases of this model from that we arrive at right around $90,500. This is almost exactly the price that you were quoted, so it looks like an excellent deal to me.

    If you like the car, and who wouldn't ;) , I personally don't see any reason not to go for it.

    Car_man
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  • Guys,

    I've never leased before so any advice is appreciated.

    My local BMW dealer in Roswell GA just referred to the bmwusa.com website for the current lease price. (plus $469 dealer fee $42 tag )

    Vehicle Registered outside N.Y.
    • $999 First months payment
    • $3,500 Down payment
    • $1,000 Security Deposit
    • $5,499 Cash due at signing
    MSRP of $76,375.00
    10k/yr

    The features I priced out came to $78,475. Would an experienced BMW leasee accept this at face value or should I be negotiating? If so, in what way? My credit is perfect if that matters. I don't drive more than 10k miles per yr.

    How does my price of about 2k more typically affect the $999/month price? I'm worried that's where my inexperience will get exploited.

    I get the impression that these lots have cars with a lot of the features you don't need just to inflate the price. Is that observation correct? No local cars here with my preferred color under $86k so do they order one for you for a lease or do you always have to lease what's on the lot and therefore pay a higher lease?

    Thanks very much for puting yourself in my inexperienced shoes and offering any tips.

    Randy
  • eights38eights38 Posts: 137
    leross - You can do substantially better than the price quoted on BMWUSA.com. In all cases, the dealer prefers to sell you a vehicle on the lot due to the cost of inventory. However, most dealers will be more than happy to locate or order a particular vehicle (ordering could take some time). If you would like help in your search and negotiations, please feel free to email me.
  • Sure, I would appreciate help in getting the best lease arrangement I can get. I'm looking for: 2008 or new, Stratus Gray Coupe, Black interior, Sport package, MSRP as built $78,475, 3yr lease, credit perfect. Alpharetta GA 30004. I could buy outright but don't see any obvious reason to. Thank you.

    dealer offered: 3500 down payment, 1000 sec dep, $1153/month - includes $75 tax payment, basically a 12 week wait to get car, 60% residual, 10k miles (ok for me)
  • random987random987 Posts: 31
    According to BMW's web page

    BMW is also extending its special lease offers on select 2006 Certified Pre-Owned vehicles.

    Does anyone know what the lease deals are for the 2006 650 convertible?
  • talei123talei123 Posts: 4
    Im in the market to Lease a used 6 series. Does anyone know the current Lease rates offered if any money factor rate + residual. for a 15,000 mile lease on a used 6 series. I was recently quoted for a used 2005 6 series a with MSRP of 46,995
    4500 down and 700 monthly.This was 24months and 18,000 per year. I thought this was very high for that specific car. Carman or anybody else please help ... thx in advance...
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi talei123. While I know that BMW usually has one of the best lease programs in Certified Used Vehicles, given the lack of popularity of used vehicle leases I do not personally keep tabs on manufacturers' programs. Sorry that I could not be of more help.

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  • neenneen Posts: 7
    I am looking to lease a 2006 650ci coupe. It is black with black dakota leather, cold weather and sport package. Mileage is 20,102 and asking price is 59,900.

    I am wondering what money factors I can expect (I have excellent credit) for a 24 month 12k/year lease. Is it possible for my monthly after tax payments to be in the mid 500's?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi neen. Through May 5th, BMW Financial Services' buy rate lease money factor and residual value for a 24 month lease of a new 2008 650Ci Coupe with 12,000 miles per year (beautiful car BTW) are .00210 and 69%, respectively. Unfortunately, given its relative lack of popularity and the massive number of variables involved in used vehicle leasing, I do not personally keep tabs on BMW FS' program for CPO vehicles.

    Car_man
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  • jed3039jed3039 Posts: 5
    I am considering a 6-Series. Still on the fence about going coupe or convet. I notice online there seem to be some very nice programs - $999/mo for the coup and about $1050/mo for the convert. I can't seem to get the rate to generate on the "build your own" even as a stripped down model. Any ideas on those numbers? I also have a dealer who tells me they will give me the either car for $1,000 over invoice...sounds like a good deal. Do you agree?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jed3039. $1,000 over dealer invoice for a BMW 6-Series sounds reasonable to me, but there's enough room there that it wouldn't hurt to comparison shop with another dealer or two if there are any in your area. Once you settle on a selling price that you are happy with, have the dealer calculate your car's monthly payment using its buy rate lease money factor of .00195.

    Car_man
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  • vince83vince83 Posts: 3
    Can anybody help me?
    Is that a good deal?
    650i, sport, auto, pear leather, comfort access
    MSRP $83,025
    Sale Price $78,440
    24 month, 10,000 mile-per-year lease
    $1914.59 Total Drive off
    $0 Cap Reduction
    No Security Deposit
    23 additionaly payments of $1204.47 + tax = $1303.84 (8.25% Sales Tax in LA)
    69% Residual ($57,287.25)
    .00210 Money Factor
    $825 Acquisition Fee (Capitalized)
    $45 Doc Fee (Capitalized)
    This is if I don't make a security deposit, if I do, then MF is .00195 and the payments would be $1281.66.
    Is that a good deal or should I push more for the sale price... right now it's about $1500 over invoice.
  • vince83vince83 Posts: 3
    The Sale Price is without the dealer acquisition fee + doc fee which end up being $870. That amount has to be added to the sale price to get the payments right in the calculator.
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