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No money down
$540.00
Premium Package
Xeon
Cold Weather
24 Month
540 includes taxes
1,600 in fees(due at signing) for motor vehicles, bank fee , document fess etc
1- Is this a good deal?
2- It still has 3K miles left on warranty. What would be the best way to utilize the warranty? I was thinking to take it to a BMW dealer and have an oil change -- and hopefully they will tell me if there is a big problem. Any better ideas?
Thanks a lot..
===============================
Depending on the condition and what part of the country your in .. the Bimmer dealer probably dropped the $23ish range at the guy and he decided to go down Retail Rd .... $27,5.? .. you did fine, you need to be lookin' at an extended warranty though .. these ain't cheap in the Repair department ......
Terry.
I've been reading all of the good advice posted here, thanks for the fantastic info - I'm much more informed than I was on my last lease (Nissan).
I'm considering leasing a new 530, but I was just wondering - in general, will I get a better deal going through a 3rd-party leasing company, or should I tough it out at the dealership and lease through BMWFS?
The 3rd-party banks usually can't match the high residuals...
Also, BMW dealers have access to the 3rd party banks... If the deals were better, they would use them..
regards,
kyfdx
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MSRP: 58295 (premium sound as an opt)
Selling Price: 55295
3years/15K
Cap cost reduction: 4500
Monthly Payment: 575+tax
Is this a good deal?
How does it compare to what others have out there?
Thank you!
Went in - told them I wanted a new 530i, Premium sound Pkg, Premium Pkg, Satellite Radio, Auto transmission - Titanium Gray/Gray Leather. Said I would pay 1000 over invoice - asked me if I could take delivery in 10 days - told them yes - they reserved a car coming in next week for me at the 1000 over invoice. Trade involved an 05 BMW525 with same equipment - they gave me41K for it - excellent book, can't wait.
Best buying experience I ever had with absolutely no hassle.
Will let you know what it's like in a week or two
Wait a minute....you mean you actually bought the car?!?!
I thought all anybody did in here was lease.
Good luck with the new Bimmer. Just make sure it's the '06...wouldn't be the first time a car salesman tried to pull a fast one.
500 something a month on a BMW that costs over 50 grand with just 4500 out of pocket is an awesome deal. In fact, that sounds like a 525 or 530 payment to me and I structure BMW leases every day.
DL
I understand the 06's are at the port and are beginning to arrive at BMW dealers.
According the dealership, it is supposed to arrive next week.
I bought the 05 525i, as well, but if I had leased it, I would have been stuck in it for at least 30 months, if not more.
It's not 2% anyway. They are base points on a money factor and right now the 545 buy rate equates to about 2.4% interest. The very minimal profit by marking the buy rate up two base points on a 545 gives the dealer a profit of about $600 and still gives the client a converted interest of about 2.8%. That's a great rate on an incredible car.
People complain about how the dealers are stupid and all this other crap. Well, if they don't make the profits to provide for a competent staff then that's what you get.
'06 530i, '05 530i or '06 525i (in that order)
Black or Titanium Grey
Automatic transmission
All I want to pay for it is:
$400-500 monthly lease with no less than 12K miles per year
$3-4.5K on total drive off
I've got email and a fax so I'm willing to go to any one of the 55 BMW dealers in California and Oregon to pick up the car.
Is this a realistic goal - or more appropriately, what numbers would a dealer need to punch to come out with a $400-500 monthly lease payment?
For example, say the monthly lease price for a 36 month agreement is $500 & tax is 8%. 8% of $500 is $41.25/mo. Is it possible just to leave $1485 down ($41.25 x 36 mo) specifically for the purpose of paying off the tax upfront, so the check I'm writing per month is just $500 (and not $541.25)
Also, I just became a small business owner. How will that affect both my leasing price and negotiating position, if at all?
Finally, when leasing a brand-new BMW from a BMW dealership do you have to go through their financing department or can you lease through a third-party?
Thank you so much you guys in advance. This forum is a remarkable asset.
The reason is - the state where you lease the car (where the car is registered), charges sales tax based upon the monthly rental rate (lease rate). That's why many people lease rather than buy - you only pay the sales tax on the part of the vehicle you are leasing. When you buy, you are required to pay the tax up front.
Additionally, suppose you get out of your lease early, say 8 months early, then you have already paid sales taxes on payments you won't be making. How would you get the sales taxes you paid in advance back from the state or municipality?
Good Luck!!!
BMW financing gives the better lease rates than 3p, generally, and better residuals.
DL
I wouldn't imagine that too many people who were considering ponying up the extra bucks for the 8 cylinder were subdued in their test driving. It's a performance car, and I'm betting they made it perform. Hard.
That's not to say that it might not be a magnificent machine in great working condition...just that it's way more than likely that the car has seen some break-neck acceleration, sharp turns, hard cornering, etc. etc. etc.
It's a 60k+ car, IMO you are better off throwing down a few extra hundos, even a G+ to get it brand spanking new, with no wear and tear, and no possible future regrets.
The first 250 miles put on a demo car (if, in fact, that is the case with this particular car) are not akin to those 'average person' miles. Any honest car salesman will tell you that the people testing high performance cars are not going easy on the car.
Albeit, there probably has not been much damage inflicted upon the 250-mile-old 545i. Probably. However, given BMW's lackluster reliability, I would say I would have to pass on a 545i that has been beaten up for even 100 miles.
I've been on thousands of test drives and for someone to be driving the car so hard that it might damage a BMW has never happened. You can't hardly drive the car to that point within legal limits and most drivers don't have the nerve or skill to drive the car in such a manner.
Having said that I can also admit that it is not unusual for some more particular clients to insist on very little miles on a car but it's more common on an M car that has more stringent break-in procedures. It's a simple as this.......if you don't want the car than don't buy it but I'm just saying in my professional opinion, it's no big deal.
Depending on the configuration that you prefer it might be tough to get that car. There aren't really all that many of them in CA. THe most desireable configurations can be pretty scarce.
Here's my question: What is the formula you guys use to calculate monthly lease payments? And how can dealers alter that formula (add cost here, take them away there) to make more money or to cut me a deal?
The residual is really the only other variable and that amount is fixed by the lender.
I'm looking for something like:
[ (Selling Price + (Selling Price * (MF * 24) ) + Acquition) - (Selling Price * Residual) ]
/
# of months
I've tried several different equations and I keep coming out with numbers too low based on examples already given throughout this thread and too high using this calculator: http://www.floridadrivers.com/vehicle_financing/lease_payment_calculator.php
Or if someone has a website that explains this (Car Leasing for Dummies or something) that would be just as good.