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BMW 6-Series Lease Questions

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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!
  • 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.
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