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BMW 5-Series Lease Questions
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Comments
If I choose to lease again is my original security deposit returned with no requirement for a new security deposit or is my original deposit rolled over to the new lease?
What is the current loyalty program/discount - if any?
Can you still do multiple security deposits and what is the value of each deposit?
Thank you
My 24 month lease on my 2006 530i expires in January. I'm currently paying $592.00 a month plus tax. I'm under the miles so that is not an issue. I'm very happy with the car but not sure what I should do when the lease expires.
Should I lease a 2008 535i? or does it make more sense to extend my current lease?
See what the money factor and monthly payments are being a previous BMWFS customer. You may find them to be more favorable with the new model as your old lease. The new 535 has subtle but nice changes and improvements and is awesome. I'd highly recommend it.
For my own lease-
First I need to know the MF/R for November to have some numbers to work with (my lease is up Dec 29th). It would seem BMW would see the value in offering current customers a discount to keep them but I only see it show up here occasionally. My thinking is to add multiple security deposits to a discounted MF (if allowed). I already have my previous security deposit available and I understand a sec. dep. is not required for a returning customer. BMW has a high residual but the payment can really affected by the MF.
If you add up a high residual, no new sec. dep., a loyalty discount on the MF + multiple security deposits - you could come away with a very attractive lease. I will have to wait and see what info shows up here.
My car is scheduled for regular brake fluid service in a couple of days so I may ask when I am there. I have considered purchasing my car at lease end so I will let my salesperson know this to keep him honest (although he was very straightforward to deal with the first time around). I have talked to two associates who attend one of the largest auctions in the country (Orlando,FL) on a weekly basis and my lease end payoff is not that far from what they can get my same car for after their fee plus the auction fee. I would bypass a dealer completely but both of them put a real value on the fact that I am the owner of my car and know its condition.
Sorry for the long post - just getting opinions
macdad
My salesman says the MF for a current customer is around
.0190 and multiple security deposits are available. He recommended I talk to the finance person to confirm which I will do this week.
macdad
24 mo - 71%R and .00225 MF
36 mo - 60%R abd .00225 MF
I think BMWFS is a pass/fail for credit (it was on my lease)
Any accidents or damages?
Again, those are purchase rates, not leases.
So selling price is probably the one variable that you can easily shop with all others being constant.
I ordered a very similar car and didn't do the multiple security deposits because it's from NY dealer and they said they cannot. I didn't realize that a NJ dealer selling to a NY customer could do it. I am getting 15K miles per year on a similar priced car (I assume you are getting the 550i sport for the price I saw listed). My deal was based on invoice plus 1450. I did not qualify for BMW loyalty rate on MF. Are you getting that? My payment is about 200 more per month for 36 mos. I'm not sure why your payment would be so much less (msd's will reduce the payment). But it seems like a great deal from here.
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macdad
The msrp is 58,075 and the selling price is 54800. 775 destination charge. 2008 535xi sports package, premium package, navigation, and ipod. 10,000 mi / 36 mos.
The figures above include taxes and I am in CA.
Thanks!
Thanks
15k miles, 36 month lease, 60% resdiual, 225 or 240 money factor with or without security deposit.
Hope this helps...
Hi townhall,
I'm a 24 year old daughter trying to help my dad. Because he's old and a lil incompetent, I have to help him... because he's a really nice guy and often doesn't know what he's doing, and he gets ripped off and taken advantage of alot.
Anyways, him and his business partner want to each lease a 2008 BMW 528xi. My dad's business partner knows what he's doing better than my father, but i feel like he too is gettting ripped off. If they were smart, they would have gotten a hell of a good deal because they are leasing TWO cars through thier corporation...but alas....the bmw dealer got the best of them, in my opinion
The car that he is trying to push onto my dad, a BMW 528xi, with navigation, satellite radio, cold-weather, ipod integration, and premium package is not even the car that my dad wants, it has a bunch of extras in it. And still they won't budge on any numbers. Anyways, for this car, the bmw dealer told my dad that he was giving him a really good deal by giving him 1,300 off of the MSRP ($53, 220) and giving him a lease of 895.06 a month. My dad also has to give a security deposit and 900$ up front. He saidthe selling price is $51,920 and that the residual value is $31,932.00 This whole thing sounds like utter hogwash to me from what I have been reading here.
For a 36 month lease, 15,000 miles, 0 down payment, on a bmw 528xi...that is waaay too much....right?
I admit that i'm way in over my head here, and, i'm really confused by everything but i'm trying to figure it out by reading everyone's posts. So that's why i'm sincerely asking for help.
Can someone tell me what the invoice price, the selling price, the msrp, the money factor, the lease payments shoud be? And can someone explain to me what these things mean, and how to go about this?
Thank you all very much. I really really really appreciate your help
Sincerely,
NM
is the car still available?
let me know.
thanks
davidjbyun @ hotmail . com
If the MSRP is $55200 and sales price is $54500, 36 month residual is 60% (15k mile lease) and money factor is 0.00225
With NO cap cost reduction:
without sales tax, I get $791/month. with my 7% tax, it is $846.
I assume my out of pocket would be first month+security. so about $1746 or so.
Is that correct? it is crazy high to me. Any better deal out there? how to decrease the money factor?
The 5-series market seems tight, can I push for a better sales price?
thx
BMW lets you purchase a reduced money factor by paying multiple security deposits up front. Each reduction is .00007 off with up to seven available. if you paid seven your new MF would be .00176 and would cost 5600 and give you a new payment with tax of 799.51. You will get the money back at lease end but it will take a couple of months and according to the finance guy it can not be rolled into a new lease. Is the upfront money worth th ~50/mo. savings?
If possible, you could do a 12k lease and get a better Residual unless you need the mileage.
macdad
Ok, acq fee AND first month AND security deposit. Geez. Acq fee is a crock.
will consider the multiple security deposits,but would have to compare the return if I did something else with that money.
I used 15k lease to be sure I was calculating it correctly, I would actually most likely use a 10k lease which adds 3% to the residual.
thanks again.
I knew it was a pretty good deal, i shopped all over the place, and pulled the trigger two weeks ago, its 550i sport pacakage, and other goodies no HUD though and I did qualify for loyality rate, for 15k it was $30 more but i didnt need it.
Hope it helps, feel free to ask anyother details.
I just came across the MF/R for Nov. 2007. Can anyone confirm these as accurate? (see below)
My second BMW lease is up next month and I'm looking into getting into my third. Do you guys know the criteria for qualifying for the loyalty discount in order to get a lower MF? Also, I read on this board something about paying down multiple deposits in order to get the MF even lower. Does anyone have more specifics on that. Also, considering this would be my third lease with BMW FS, I wouldn't have to cough up another sec. deposit because it's been rolling over since I got into my first lease. Does this sound correct? Ok, no more questions, lol. Any feedback is well appreciated.
BMW Financial Services Lease Programs – 11/3/07
For lease programs shown in BOLD, a bank lease program may have lower payments. Click on a vehicle name to compare current bank lease programs through LeaseCompare.com.
2008 MODELS
2008 BMW 528i Sedan
24 Month – Residual 73% of MSRP – .00225 Base Rate
36 Month – Residual 60% of MSRP – .00225 Base Rate
48 Month – Residual 42% of MSRP – .00305 Base Rate
60 Month – Residual 34% of MSRP – .00305 Base Rate
2008 BMW 528xi Sedan
24 Month – Residual 71% of MSRP – .00225 Base Rate
36 Month – Residual 60% of MSRP – .00225 Base Rate
48 Month – Residual 42% of MSRP – .00305 Base Rate
60 Month – Residual 34% of MSRP – .00305 Base Rate
2008 BMW 535i Sedan
24 Month – Residual 71% of MSRP – .00225 Base Rate
36 Month – Residual 60% of MSRP – .00225 Base Rate
48 Month – Residual 42% of MSRP – .00305 Base Rate
60 Month – Residual 34% of MSRP – .00305 Base Rate
2008 BMW 535xi Sedan
24 Month – Residual 70% of MSRP – .00225 Base Rate
36 Month – Residual 60% of MSRP – .00225 Base Rate
48 Month – Residual 42% of MSRP – .00305 Base Rate
60 Month – Residual 34% of MSRP – .00305 Base Rate
2008 BMW 535xi Wagon
24 Month – Residual 70% of MSRP – .00225 Base Rate
36 Month – Residual 60% of MSRP – .00225 Base Rate
48 Month – Residual 38% of MSRP – .00305 Base Rate
60 Month – Residual 30% of MSRP – .00305 Base Rate
2008 BMW 550i Sedan
24 Month – Residual 69% of MSRP – .00305 Base Rate
36 Month – Residual 59% of MSRP – .00305 Base Rate
48 Month – Residual 36% of MSRP – .00305 Base Rate
60 Month – Residual 28% of MSRP – .00305 Base Rate
2008 BMW M5 Sedan
24 Month – Residual 70% of MSRP – .00305 Base Rate
36 Month – Residual 57% of MSRP – .00305 Base Rate
48 Month – Residual 43% of MSRP – .00305 Base Rate
60 Month – Residual 34% of MSRP – .00305 Base Rate
1. 528xi....prem,sport,cold,nav, 18alloys,sirius, sunshades,metalic paint 12x36 lease, 2200 down 699 month including tax and reg
2. 535xi...same as above....769
I think these are good numbers.....I can't seem to get any lower.
As for your security deposit - I was told the original deposit would be refunded and is not applied or need to be carried over - there just is not one required after the first lease.
Both the my salesman and the finance dept says these programs are subject to change so I will have to check back in December to confirm availability. It seems the loyalty program follows cars that are not selling as strong as others.
macdad
Horsepower wise, the 528 and 530 may be similar (230 hp vs. 255 hp) but the 535 is much closer in spirit to your 530. Regardless, the 535 engine is so dramatically superior to any other six cylinder on the road (leaving aside the Porsche flat six), I wouldn't even consider downgrading to the 528 unless it was financially impossible to swing the extra $80/month lease payment.
If you check out the current lease deals for November, you can see that BMW already has a very generous leasing program on the 5 Series. Particularly given how far the Dollar has fallen against the Euro in the last two months.
MSRP-$51,600
Premium Package- $2,100
Cold Weather Package- $750
Destination- $775.
Total- $55,225
Discount- $1425
Cap Cost $ 53,800.
24 months 70% Residual 20,000 miles per year MF-.00265 NJ sales tax included $1054 per month
30 months 66% Residual 20,000 miles per year MF- .00265 $982. per month
Am I being taken?
I assumed that the additional 10,000 miles over the standard 15,000 mile/year allowance was excess miles and worked that into the payment. Also, your money factor seems a little high.
2008 BMW 535xi Sedan
24 Month – Residual 70% of MSRP – .00225 Base Rate
36 Month – Residual 60% of MSRP – .00225 Base Rate
48 Month – Residual 42% of MSRP – .00305 Base Rate
60 Month – Residual 34% of MSRP – .00305 Base Rate
Bimmerfest.com has an awesome lease calculator for BMW's here:
http://www.bimmerfest.com/forums/showthread.php?t=60089&page=2
Just make sure you update the destination charge to $775.
BTW, would you be kind enough to PM me with the name of the dealer in New Jersey you are working with?
total msrp with options =$50,575- negotiated down to $49,290.
$3000 total out of pkt and 575+ tax per month , 24 months.
Is this a good deal or am I getting ripped off?
thx, from S Florida
Typically there are these costs:
- Acquistion fee ($625 typically..but can be hundreds higher). This is typically put into the cap cost of the lease vs. pay up front.
- First month payment
- Security deposit (I think rounded up to nearest hundred)
- Doc Fee...it is $399 typically in my area...but really varies.
So assuming your ACQ fee is in the lease, your up front $3k is a combo of the others above + cap cost reduction.
paying money down on a lease to reduce payment isnt the best financial use of the money, but that is your preference of course.
Ask the dealer for these costs and the lease details, e.g. Money factor and residual value used for the miles/year you chose.
The residual is 38,755. Do you still feel its a good deal?
thanks again!
Local dealer says the December R + MF are the same as November - y/n
The loyalty discount on the MF for current customers was discontinued - y/n
there is a 1000 cash available from BMW to be applied to upfront cost or as cap. cost red. (this may be for current customers only to replace the discontinued MF reduction, not sure) - y/n
thank you