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BMW 5-Series Lease Questions
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Apparently, Classic wants the entire profit between invoice and cost and want to almost double the MF.
fm
Couple questions:
1. Does it really matter if you buy a 530 from Moritz or Classic? When I had my X5 in for service at Classic- I always felt like a second class citizen (could never get loaner cars, free car washes,etc.) My thought now is get my price at Moritz and get Classic to match it. If not, just get it from Moritz.
2.What exactly is the tax credit, and where can I find out more info on it?
SC
Another question, while I was signing papers...dealer offered me some sort of tires and rims replacement program for $375. I said "no" to it but was it worth to get it? It supposed to cover road hazard damages but not on wheel damages from turning corner to close to scratch your wheel.
I just wonder.
Thanks for all your help!!
Thx in advance............
Can someone Please help ?
335i,metallic,PP.SP,Auto,Navig,Sirus,Comfort access,Heated seats,Paddle shifters,Wood trim.
MSRP: 48,490.00
24 months 12k miles.
MF 0.0015
Residual = 71%
inception fees = 2332.00
Payment 24 months = 628.49 ( incl tax )
8 SD's = 584.00 per month
Is this a good deal.
Thx.
Option Description Invoice MSRP
335i Base $35,605.00 $38,700.00
205 Steptronic Auto Trans $1,210.00 $1,275.00
ZSP Sport Package $1,455.00 $1,600.00
ZPP Premium Package $2,230.00 $2,450.00
609 Nav $1,910.00 $2,100.00
655 Sirius $540.00 $595.00
322 Comfort $455.00 $500.00
2XA Paddle $90.00 $100.00
494 Heated Seats $455.00 $500.00
Destination Charge $695.00 $695.00
Totals $44,645.00 $48,515.00
Here are the calculations:
MSRP $48,515.00
Cap Cost $47,425.00
Residual % 73.00%
Residual $ $35,415.95
Lease Term 24
Monthly Depreciation $500.38
Net Money Factor 0.00101
Monthly Interest $83.67
Base Payment $584.05
The residual should be 73% on a 12k lease. I don't know if that was a typo on your message. The cap cost break down is:
Invoice $44,645.00
Amt over invoice $1,775.00
MACO $380
Inception $625
Total $47,425.00
$0 Down payment (Cap reduction)
Refundable SD $5,200
What is the $2332.00 inception fee? Is that a down payment? I don't know where you live, so I don't know if $1,775 over invoice is a good deal. You need to clarify what the $2332 is...
This is the breakup I got from the dealer. He says he makes only 570.00 out of the deal. Its a demo.
335i sedan,metallic,PP.SP,Auto,Navig,Sirus,Comfort access,Heated seats,Paddle shifters,Wood trim.
MSRP: 48,490.00
24 months 12k miles.
Residual 71% = 34427
Demo Miles = 1500 -501 @15c/mile = -(149.00) ( discount)
Mileage Adj: +2% = 969.80
Adj residual value = 35247.00
Rate = 0.0015
dealer price = 45,100.00
selling price = 45,670.00
Adjusted selling price = 45685.00
assignment fee = 625.00
tax = 1047
total Cap Cost = 47,367.70
inception fees = 2332.
Payment 24 months = $$628.49
Inception =
First months payment of $545,
1 Security deposit = ( I have to confirm this )
Bank fee of $625
MV Tax 3 yrs $262.50.
Document fee of $159,
State Tire tax of $6.00
It looks like he added tax to the Cap Cost. Is this normal?
He is giving at 71% residual but adding 969.80 to residual bring 73% ?? a funky way i thought.....
Also, for 8 SD's of 4800.00 for 24 months then he is giving rate .00132 , 73% residual, Cap Cost 46,819.58 .
Pymt Monthly $$584.44
MSRP: $48,490.00 24 months 12k miles.
Invoice Price = $44645.00
Residual 71% = $34427.00
Adj residual value = $35247.00 ( $34427 + $969.80 ){It should have actually been $35396 for 73% so he is up by $149.00}
As I am not paying tax $1047 upfront its spread across 24months and he is adding to Cap Cost to charge interest on that as well ?
Total Cap = $44645.00 + $1047 + $570.00( his profit) =
$46,262.00
Monthly Depr = $458.96
Int = $122.26
pymt = $581
Pymt with tax = $581 + $43 = $624 close to his offer of $628.49. What do you think ?
However, I need to check on the MF markup to .00132 with 8SD's
MSRP $48,515.00
Cap Cost $46,220.00
Residual % 73.00%
Residual $ $35,415.95
Lease Term 24
Monthly Depreciation $450.17
Net Money Factor 0.00101
Monthly Interest $82.45
Base Payment $532.62
Invoice $44,645.00
Cap Additions to Invoice:
Amt over invoice $570.00
MACO $380.00 (Dealers in certain small areas won't charge this)
Inception Markup $0.00
Inception Fee $625.00
Down Payment $0.00
MF
Buy rate 0.0015 w/one SD
Additional SD = 7
Total SD = 8
Net MF 0.00101
That's $570 over invoice (amount that he SAID he was making) and work up from there depending on what the going rate is for that car in your area. You can figure out your tax by Base Payment * tax rate...
Yes a new car or I will bring this one down by $40.
If this does'nt work, I may go for the 530xi we discussed earlier...
I will keep you posted..
thx for a lot.....
Should dealers addin this to the MSRP as an additional charge?
SC
Triston
I went to a dealer yesterday and put a $500 deposit down on a 525i MT cold weather package w/sirius radio. He said I needed to put a deposit down for them to order the car.
The details are as follows:
MSRP $45,540
Selling Price $43,690
Residual 15,000 miles per year 36 months 60% ($27,324
Money Factor .00075
$525 plus tax per month 36 months
I thought this was a good deal but now I'm getting worried that it's not. What do you think?
Also, I think the dealer included the destination charge twice, once in the selling price and then again at the end. I say that because if the MSRP includes the destination charge then the selling price should include it as well, correct?
Lastly, in previous postings you mentioned you can bring down the MF by paying additional security deposits. How does that work? I can't figure out where in my calculations to put the SDs to bring down the MF and my payments.
Thanks in advance!
Option Description Invoice MSRP
525 Base $40,200.00 $43,500.00
ZCP Cold Weather $685.00 $750.00
655 Sirius $540.00 $595.00
Destination Charge $695.00 $695.00
Totals $42,120.00 $45,540.00
Here are the calculations based on the numbers he gave you:
MSRP $45,540.00
Cap Cost $44,295.00
Residual % 60.00%
Residual $ $27,324.00
Lease Term 36
Monthly Depreciation $471.42
Net Money Factor 0.00075
Monthly Interest $53.71
Base Payment $525.13
Assuming you are rolling the MACO ($400 guess) and inception ($625) into the cap cost. What that in mind, it is around $1150 over invoice...And it looks like they are marking up the MF by .00025 from the buy rate. If you are 1st time BMWFS customer, you can do 8 SDs (1st to drop the .00015 add-on plus 7 more). If you do so the price will be:
MSRP $45,540.00
Cap Cost $44,295.00
Residual % 60.00%
Residual $ $27,324.00
Lease Term 36
Monthly Depreciation $471.42
Net Money Factor 0.00026
Monthly Interest $18.62
Base Payment $490.04
But you'll have to come up with around $4,400 in SD. And yes, dest charge is in both invoice and msrp...Good luck!
Also, he said that he ws only charging me $500 over invoice when based on the numbers on Edmunds, it is $890 over invoice. Please please let me know what the MF should I be getting.ALso, if anyone out there has gotten a deal for 0.0005 at a PA dealer.
Thanks
K
Thanks
And how do I get them to drop the MF...do I just ask? Or is there some technique to it...I'm not a haggler (can u tell?)but I don't want to be taken advantage of either.
P.S. I plan on calling my sales guy in the morning to let him know that his lease calculation included the destination charge of $695 twice...my selling price should be $43,690 (which already includes the destination charge) not $44,385.
Let's suppose another dealer (Dealer B)gives me a better price...can I get my security deposit back from Dealer A; or, does my paying Dealer A a deposit make it a "done deal"?
2K out of pocket which includes tags, title, registration and first months payment.
$527 cap cost reduction.
$493.97 monthly payment which includes 9% sales tax (PA) and Interest.
My only concern is, that if i can actually get the MF down to 0.0005 and the price 400$ lower ($500 above invoice), then the payment drops to $453.
Am i just being greedy, or is that actually possible?.
the car is really basic. white, beige leatherette, auto and heated seats.
thanks in advance
Any help on the MF would be great. I have about 5 dealers to work with but they all seem to be giving me the same numbers and have the NYC suburb dealer attitude. I am also trying to leverage a MZ4 that my bro wants to lease to the dealers, but they dont seem to care.
Any help would be great.
Simple. Let's say you give them six security deposits of $500 each for a grand total of $3000. Let's also say that lowers your payments $40 a month. That means by giving them $3000 you save $480 a year. That's like getting over 11% interest. Much better than your bank will give.
One last thing...I put down a security deposit Wed night for the 525i...but now i think i want the 530i so i faxed out some requests this morning. If i get a better deal can i cancel the order with dealer A without losing my deposit?
I'd want to step up to a 530i as well.
Thanks to all for their help and suggestions.
I'm also in the DFW area, and ready to lease from Moritz. What are the details of your lease? Did you also get a quote for the 525i? The best offer I could get on a 525i is 2000 off MSRP with MF .0009 with 1 month SD. I might also go with the 530i. Would appreciate if you could email me the details of your deal and with whom you were dealing with at Moritz and Autobahn.
Thanks.
jluc3
Auto Trans
Cold Weather
Premium Pkg
Fold Down Seats
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Lease comes to $640 per month without taxes, nothing down.
How'm I doin?
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As far as this deal goes, the money factor that you were quoted is right in line with BMW Financial Services' current buy rate for this model. This is a good sign because it means that the dealer you are working with is not marking your car's money factor up to add additional hidden profit to your deal. You were quoted a $2,156 discount on this car. This seems like a reasonable price to me, but you definitely should stop by the following discussion to see how much other community members have paid for similar cars lately: "BMW 5-Series: Prices Paid & Buying Experience".
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Inception is not included.
36 months/12,000 miles
MSRP for 07 530 is $56720. Dealer is giving $3000 off MSRP+6.25% tax credit + all weather floor mats. MF is .0009 which I can bring down to .00048 by putting 7 SDs. What do you think about this deal? Somehow dealer is not negotiating on MF. BTW, in TX. we have to pay entire sales tax upfront. Thanks.
fm
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