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BMW 3-Series Lease Questions

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  • This is my first post so I hope it gets in the right place.
    I too want to know if my deal was ok. I just got (yesterday) a 2012 328i Modern Sapphire Black with Oyster leather, premium pkg, NAV, parking.
    Sticker was $46,495.

    I traded in my 2006 Z4 that all the dealers around town were only going to give me $16k.
    I paid $900 and no payment for 30 months with 10k miles. If I want to keep it after the lease it's $31k.

    I think I did ok, did I ?
  • car_man please disregard the previous information, the dealer didn't actually had that car on the system! I would like to ask your opinion about this car deal!

    328i 2012 Mineral Grey Sportline with Premium Package, Satellite Radio, Sport Auto Transmission and Heated Front seats

    - MSRP $43,795
    - Negotiated Price $41,795 ($1,000 reduction by dealer and $1,000 recent college grad)
    - Discount 4.57%.
    - 30 month lease
    - 65% Residual
    - Money Factor .00245 or APR of around 5.88% according to my calculations
    - 15k miles allowed
    - $1,000 Due at signing
    - $749.66 monthly payment.

    I just graduated so I requested to be part of BMW's Recent Grad program. It is also important to note that I will be working under a work visa, so I just got my SSN, therefore I got no credit history yet I have a job offer that will give me an monthly income of several times the potential monthly lease payment.

    What do you think about it?

    Thanks in advance car_man!

    longhorn_bmw
  • car_man please disregard the previous information, the dealer didn't actually had that car on the system! I would like to ask your opinion about this car deal!

    328i 2012 Mineral Grey Sportline with Premium Package, Satellite Radio, Sport Auto Transmission and Heated Front seats

    - MSRP $43,795
    - Negotiated Price $41,795 ($1,000 reduction by dealer and $1,000 recent college grad)
    - Discount 4.57%.
    - 30 month lease
    - 65% Residual
    - Money Factor .00245 or APR of around 5.88% according to my calculations
    - 15k miles allowed
    - $1,000 Due at signing
    - $749.66 monthly payment.

    I just graduated from UT so I requested to be part of BMW's Recent Grad program. It is also important to note that I will be working under a work visa, so I just got my SSN, therefore I got no credit history yet I have a job offer that will give me an monthly income of several times the potential monthly lease payment.

    What do you think about it?

    Thanks in advance car_man!

    longhorn_bmw
  • wow - that's a sweet offer bro! We've only got one BMW dealership in our city hence it's pretty tough getting a good deal ( or that's what I assume ).
  • Thanks, I think I got a good deal too.
    To clarify, there's only one BMW dealer in town.
    I was looking at some other manufactures also. Jeep, Ford, and Toyota all offered $16k for my Z4
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're very welcome longhorn_bmw.

    The money factor that you were quoted actually isn't that great. The best available factor for this car through BMW FS is currently .00190. Having said that, given your lack of credit history and even the lack of time at your current employer I'm not surprised that you have to pa a somewhat higher factor.

    The selling price that you were quoted for this car isn't terrible. It's probably around $1,500 over invoice. That leaves a little room to play with is there is some other dealers in your area that you can comparison shop at though. It probably wouldn't hurt to get another quoted or two to see if any other dealers can beat this money factor and selling price. I wouldn't be surprised if they could.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi again longhorn_bmw :). Well, this money factor is certainly a lot better. It's probably about what I would expect for someone with absolutely no credit history.

    Let's take a look at this car's selling price. This car's dealer invoice price is $40,305. So the selling price that you were quoted is still around $1,500 over. As I mentioned previously, this isn't horrible but I think that it can be beaten if you are in an area that has a decent level of competition.

    Car_man
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  • Hey Car_Man, hoping you can guide me a little. Car is a almost fully-loaded 2012 335ic, has nav, up-graded stereo, convienece pkg, premium pkg. Are these terms good? I need the drive-off to be a $1000 less. Do you think that's reasonable?

    Payments 607.21 plus tax
    12K a year
    60,750 MSRP Selling 57,600
    5561.22 down
    36 months
    .00175 money factor
    residual: 63%

    Thanks so much,
    Roy
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hello Roy. BMW Financial Services' current buy rate lease money factor for this car is .00155. That's slightly lower than the factor that you were quoted, so you should look into that.

    As far as this car's price goes, there is probably a spread of around $4,500 between its full MSRP and its dealer invoice price. In addition to that spread, there is a $1,000 cash incentive on this car, putting it at $5,500. There's also a grand for loyal customers.

    So you're at at least $2,000 over invoice on this car right now, $3,000 over if you're eligible for the loyalty. If you're in an area that has a decent level of competition, I definitely think that you can do better than that. At least $1,000 better, if not more.

    Car_man
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  • carolinafreecarolinafree Posts: 1
    edited July 2012
    Please comment on the following lease offer that I received:

    2012 328i sedan (available about July 20)
    MSRP 40,985 (mertallic paint, premium, heat seats and steering wheel, satellite radio)
    negotiated price 39,485
    lease factor .00230
    3500 down (incl. 1st payment)
    36 mo. lease, 10k miles/yr.
    residual value 65%
    payment $479.56 incl. tax and any other fees

    They are giving me 24000 for my 2009 328i sedan which I paid 38,185 (alpine white, premium package, auto, heated seats, and ipod adapter) for in 12/2008 and which has about 20,500 miles. Down payment coming from 24000.

    State is NC with nearest competition about 100 miles away.
    I am a repeat retiree buyer at this dealer with 775 to 800 FICO.

    Thanks for any help you can give me!
  • dicenskrdicenskr Posts: 1
    Has anyone negotiated a good lease deal lately on a 2012 328i convertible?

    I'm in the market for a new car, and was looking at hardtop convertibles. Both the 328i and VW Eos came to mind.

    So far the best negotiated deal I have for the 328i convertible is the following:

    36mos
    12k mi/year
    $0 down
    TT&L paid up front
    (so that means it's $3744.22 to take it off the lot)
    $601.09 monthly payment
    MF 0.0019 (not negotiable)
    Negotiated price approx $52,000
    This leaves me just under $25k for the 36 month lease.
    -has premium package, leather seats, heated seats, keyless entry, satellite radio, BMW apps, and navigation.

    Any ideas? Suggestions? Better lease offers?

    Thanks in advance!
  • lil2lamlil2lam Posts: 1
    Hi Car_Man -

    I made an impulsive buy yesterday and I need to hear from you if it is a sound buy or not. I have been shopping around for the new 2012 328i in white with black interior and red trimming, but the price was never right. Finally - got a call from the dealership yesterday on the 328i that a customer returned to get a 335i. :) Since I couldnt get the deal I wanted with a brand new 328i, I jumped on the offer of the used vehicle yesterday. Originally I wanted to lease it, but this car was only available to finance. I was impulsive yesterday having found what I wanted so I pulled the trigger and signed the papers. Let me know your thoughts.

    Here are the specs:

    USED 2012 BMW 328i Sedan
    1,994 Miles on the car
    Sports Line
    Premium Package
    $40,000
    $6k Down
    Interest Rate: 4.5%
    Monthly: $607

    And if it makes any difference, the dealership is in California.
    The interest rate is high, but I plan to take the contract to a credit union to see if they will bid on it.

    Thanks.
  • luka67luka67 Posts: 9
    Hi Car man,
    I'm looking at a 328xi coupe. Yesterday when I ran the numbers with the dealer, they told me that the 1000$ loyalty expired on July 2nd, although Edmunds and other sites mentioned July 9th as the expiration date.
    Do you have any information on this?
    Thank's in advance,
    Luka
  • luka67luka67 Posts: 9
    Hi Car man,
    I'm looking at a 328xi coupe. Yesterday when I ran the numbers with the dealer, they told me that the 1000$ loyalty expired on July 2nd, although Edmunds and other sites mentioned July 9th as the expiration date.
    Do you have any information on this?
    Thank's in advance,
    Luka
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi lil2lam. A selling price of $40,000 is slightly below dealer invoice for a brand new version of this car right now. That's a pretty decent selling price given the fact that this car has less than 2,000 miles on it.

    You're right, if your credit is in good shape, there's a good chance that you could beat this finance rate though.

    Thanks for sharing and enjoy your new ride :shades: !

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    What you were told is strange, but true Luka. Most of BMW's programs are scheduled to run through through the 9th, but for some reason the loyalty cash only went through the 2nd.

    Car_man
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  • luka67luka67 Posts: 9
    Any word on the July MF, residuals and incentives for the 2012 328 xi coupe?
    Thank's.
  • Thanks, Car_man. Follwoing up. Car is a 2013 335i conv. Is this a good lease?
    Agreed Value: 55,455.00
    a) Gross Capital Cost 56,380.00
    b) Capital Cost Reduction -3,001.06
    c) Adjusted Capital Cost 53,378.94
    d) Residual 36,638.90
    e) Depreciation Charge 16,740.04
    f) Rent Charge 5,347.04
    g) Total of base MP 22,087.08
    h) Lease Term 36
    i) Base MP 613.53
    j) Monthly Tax 44.49
    k) Personal Prop Tax 0.00
    l) Excise Tax 0.00
    m) Other Amounts 0.00
    n) Total MP 662.47
    Itemization of Gross Capital Cost
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Yes luka67. BMW Financial Services' July buy rate lease money factor and residual value for a 36-month lease of a 2012 328xi Coupe with 15,000 miles per year are .00145 and 58%, respectively.

    When negotiating your deal, make sure to take advantage of the $2,000 dealer cash that BMW is currently providing on this car. There is a $750 loyalty cash incentive on leases of this car as well.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're welcome oliverrose. Do you know this car's full MSRP?

    Car_man
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This discussion has been closed.