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BMW 5-Series Lease Questions
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MSRP: $53,375 (includes destination)
Selling price: $49,170 (includes destination and 1K rebate)
Term: 36 month with 12K per year
Residual: 62%
MF: 0.00225
Sales Tax: $2,513.5 (state tax is on selling price not just on depreciated amount)
Process fee: $100
2-years Tag: $270
Security deposit: $750
Dealer is saying $1,493.04 initial payment (includes first month and security deposit) and $743.04 (includes tax) per month afterwards, but according to my calculation the payment should be $718.27 (includes tax) per month. It seems like $1k is being added to the Net Cap cost. Could somebody verify this for me? and also do you think this is a good deal?
Thank you,
look what the first dealer emailed me saying:
I’d love to be the one who earns your business and hopefully you noticed how professional and straight forward I am. So straight forward that my General Manager happed to come in for 10 minutes and I brought up your email to him. When he saw your address he told me lets check it out. Turns out that Phil’s lease was 36 months 12K miles. I am embarrased to tell you that his word were that he will let you have the same deal, with 10k miles and 24 months. He rather make no money than letting you buy far from us. The car I will have for you is 2008 535 Black Saphire with Natural Brown Dakota Leather, premium package, automatic transmission, satellite radio and iPod interface. If you would like to give me your business, we will have to meet here, put everything in black and white, signed by him for your piece of mind, get your credit information to send it to BMW Financial Services and lock in the faboulus December program. We will take $ 1000 partial payment which will be refundable if any thing is different than what he signed for. I want you to give it some thought, and if you’d like to secure that car (just in case somebody else in the country does), give a call for an appointment. I am off as of now till Tuesday but should you get itchy, as long as you let me know before, I can make myself available for you tomorrow late afternoon. Thank you for communicating back to me. Rico.
HAHAHAHAHA
Just email 4-5 dealers, tell them the car you want, tell them where it is or let them find it.
Have the quote PRICE first. When you have a good price, TELL them the residual and Money factor they should use...TELL them the $625 ACQ fee. TELL them the resulting lease price (www.leaseguide.com/calc).
Play 4-5 dealers off each other. Be patient but ruthless.
MSRP: 57375
Your Price: 53940
No money down, payment: 698 + Tax 36/10000 miles.
I called and she said I was getting 1000 wich was going towards cap reduction so its not included in the price and a MF of .00225.
From what I read this sounds like a great deal espcially right off the bat. Does anyone else think I should try to hold out for something better or are they just giving me their best deal first?
Try to get a better price.
verify the 'no money down'. I assume you have to pay 1st month, security deposit...so that is $1400 right there. They normally hit you with a doc fee...of $299-$499.
Verify the Acquistion fee...it is normally rolled into your cap cost. $625 is what it should be, no more.
A good start however, but dont take it yet...forward that offer back to the other dealers.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car 2008 BMW 535i
MSRP $60,670
Invoice $55,775 (Dealer invoice with MACO fees between $56,305 and $56,375)
My price $57,705
$0 sales tax - (sales tax credit, I live in Houston Tx, tax credits to dealers this Dec.)
$1000 from BMW Financial used as down payment
I am leasing the car for 36 months 12K miles
Also, I am a first time BMW owner, am I eligible for the .00225 base rate without paying a security deposit? How much should the rate go up if I don't pay a security deposit if I am not eligible for the .00225 rate?
Am thinking of leasing a 2008 528i + Cold weather + Sirius.
MSRP - 46420, Act. Cost - 44500. Acq. Fee - 625, 12K/yr. No deposit
36 Month Lease, Res 62%, monthly - 609 OR
24 Month Lease, Res 73%, monthky 590
Can I get better deals? Which one is pref.
Thanks.
Also the acquisition fee is $825 for everyone and no one is willing to take less(so I guess thats an extra $200 to them!)
What was the drive away cost finally?
Thanks!
528 white w/cream
Premium
Xenon
MSRP 48175
Selling Price 46000
BMW incentive -1000
590/mo tax incl.
No deposit for current customer. 825 acq. and 480 doc's. Compared Acq. and Doc's to many dealers in central and south Florida and this is very common and less than most locally. Many wanted to bump money factor and were charging dealer fees of 599.
The sales tax ($2,513.5) and acquisition fee ($825) are added into the cap cost. This pushes the price to $740 per month. The sales tax has to be payed initially in Maryland, and it is 5% of the MSRP. Does this sound about right?
White/Beige
MSRP $48,175
Residual 76% $36,613
M.F. Estimate 0.00225
Term 24 months
Toatal MSRP Discounts
48,175 - 2,000 = 46,175
Additional Equip $0
Capped sales tax $0
Trade Equity as Cap red $0
Cash Cap red/rebate appl $2,400
Capped fees $1,324
ADJ CAP COST $45,099
Base Payment $537.43
Monthly Sales Tax(6.0000%) $32.25
Payment Estimate $569.68
Drive off
Up Front Payments $569.68
Security Deposit $600
Cap Cost Reduction $1400
Up Front Fees $220.49
Cap Red/Rebate Tax $144
Up Front Sales Tax $0
Cash Due on Lease $2,934.17
Trade Equity to COD $0
Rebate $0
Deposit $0
Misc. $0
Customer Cash $2,934.17
Cash Due at Delivery Estimate $2,934.17">link title
So far, your deal sounds pretty good. What's the money factor and residual?
It is funny because I started my shopping on the same day for just about the same model. I was very dissatisfied with the first dealership and then traveled to the second. I ended up with a very high number to start with and take to my research.
Please share the dealership and even the salesmen who was able to pull off such a seemingly great deal. If you do not want to post online, please email me, bsminc@aol.com
Thanks!!
I am a leasing newbie. I am looking for info on two vehicles, the 2008 528xi and the x3. I appreciate all of the postings from you all as they have been extremely informative. I am not going to be able to take advantage of the incentive for 12/07 because I will not be able to purchase until mid-end of January.
I live in NNJ and would like to find out this info because according to this forum this is what I need in order to negotiate this purchase:
1 - Invoice price on a 528xi w/nav & cold pkgs, the money factor, residual percentage, and any January incentives you may know about. Looking to lease for 24/36 mos whichever works out better with 15k/yr
. Also, info adding prem pkg as well.
2 - Invoice price on a x3 w/nav & cold pkgs, the money factor, residual percentage, and any January incentives you may know about. Looking to lease for 24/36 mos whichever works out better with 15k/yr
Thanks, also any tips or rec's for dealerships and salepersons and also other deals made are appreciated.
We haven't done the paperwork yet, (Monday) but I will only accept no more than .00225 for the money factor, it has a 62% residual.
Does being a first time BMW owner have anything to do with paying a security deposit? I was wondering because another dealer told me that I could only get the .00225 money factor if I was a previous BMW owner or if I pay a security deposit.
That is accurate...
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Edmunds Moderator
So if I don't pay the security deposit, how much does the MF go up from the base rate of .00225? I was wondering if a money factor of .0024 is good to accept?
2008 535i - CW, Premium, SP, Nav, Ipod.
MSRP is 58125.
Lease is for 12k/yr 24mo.
$5000 down which includes all fees etc.
$640/mo.
73% residual
Rate: .00225
Good deal or not. Other dealers said they couldnt even come close to it. What do you all think?
I am looking for the same deal you are on the 528xi and I am in NNJ - Randolph. Did you get any numbers yet? I am curious on both the 24 and 36 month being that the new body still is coming out in 2 years.
IMHO, go for it.
Your deal sounds to good to be true - I am in NNJ and looking for a similar car but I want the 528xi. I believe my MSRP is about $51K - at $3K more then yours how much should that affect the price per month?
I am not looking to put down $3k so I am not sure how that would affect my price - I would like to be in the $650 rangle
It's a better deal to make the security deposit and get the lower rate..
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
How much should it go up if you DO NOT pay a security deposit? I'm supposed to sign the paperwork tomorrow and I need to make sure they are not charging me to much, any help greatly appreciated, thanks in advance!!! :-)
White/Beige
MSRP $48,175
Residual 76% $36,613
M.F. Estimate 0.00225
Term 24 months
Toatal MSRP Discounts
48,175 - 2,000 = 46,175
Additional Equip $0
Capped sales tax $0
Trade Equity as Cap red $0
Cash Cap red/rebate appl $2,400
Capped fees $1,324
ADJ CAP COST $45,099
Base Payment $537.43
Monthly Sales Tax(6.0000%) $32.25
Payment Estimate $569.68
Drive off
Up Front Payments $569.68
Security Deposit $600
Cap Cost Reduction $1400
Up Front Fees $220.49
Cap Red/Rebate Tax $144
Up Front Sales Tax $0
Cash Due on Lease $2,934.17
Trade Equity to COD $0
Rebate $0
Deposit $0
Misc. $0
Customer Cash $2,934.17
Cash Due at Delivery Estimate $2,934.17
Ready? Here goes:
2008 535xi Space Gray, Black Leather, Dark Poplar Trim
Options
ZCW Cold Weather Package
ZPP Premium Package
ZSP Sport Package
205 6-Speed STEPTRONIC Automatic Transmission
322 Comfort Access
496 Heated Rear Seats
591 18” wheels w/performance tires (style 124)
609 Navigation System
610 Head-Up Display
655 Sirius Satellite Radio
677 Logic7 Sound System
6FL iPod and USB Adapter
Priority 1 Options
U6SW Black Nasca Leather
453 Front Ventilated Seats
775 Anthracite Headliner
Invoice $61,610
MSRP $67,145
Negotiated Price $62,842 (invoice plus 2%)
24 month lease/10K per year
Monthly payment $845
Nothing down but tax, tag, first month payment and refundable security deposit of $749.
Happy New Year to all!
Oh, and to the little elves at the BMW Dingolfing Plant--start building my car schnell!
Where did you buy the 535xi? Thanks in advance.
Happy New Year to you and all !
I'm new to the board and want to buy a 528i 2008 asap! The best (I think) deal I have so far for a 528i w/ premium package:
24 month lease
12Kmiles/yr
5K down
$468 (including tax)/month
Any thoughts feedback would be greatly appreciated. THANKS in advance
I'll do a quick back of the envelope for you and show you how this works. Let's leave taxes, tag, bank fee and security deposit out of if for simplicity
528i Base Model Invoice--$40,755, MSRP--$44,300
Premium Package Invoice-- $2,095 MSRP-- $2,300
Destination and Handling $775
Total Invoice--$43,600
Total MSRP--$47,375
$5,000 down (Subtract from MSRP)
December lease rate for 528i--24 months/12000k-- Residual 75% of MSRP – .00225 Base Rate Money Factor
Buying the car at MSRP gets you a monthly payment calculated as depreciation fee of ($42,375 - $35,531)/24=$285.16 plus
Finance fee of ($42,375 + $35,531) x .00225 = $175.29
Total payment of $460.45
Unless you live in a very high sales tax state (like me) even factoring in the bank fee and the tax, it sounds like you're getting the car pretty close to MSRP if you only have the premium package as an option. In addition, there is a $1000 cash incentive from BMW to the dealer on the 5 series right now that seems to have gone straight into the dealer's pocket with no credit to you.
Try negotiating the purchase price from invoice not MSRP and then apply the lease rate. My target is to get the dealer down to invoice plus 2%--you may not get there, but that's the target to shoot for.
It's also always easier to calculate your deal if you pay the tax, tag and bank fee upfront. You shouldn't be rolling the tax into the lease payment anyway since it doesn't make much sense to finance a tax payment.
Not to pressure you, but the BMW December lease rate I quoted above is only good through 01/02/2008, so you need to lock in this week.