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BMW 5-Series Lease Questions

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  • dark_katanadark_katana Member Posts: 46
    Rules say I can't provide salesperson names pagelmunda. That being said, I'm reminded of that old song--"Hey Hey Paula." Also, for some reason, I'm thinking of the current president of Mexico, I think his last name is Calderon.

    It sure would be nice if you could PM people here at car space, like on other forums.
  • claire_mclaire_m Member Posts: 4
    ooh, THANKS for doing the math. I'm in Los Angeles, CA (tax is 8.25). I was confused because he said that the residual was 79% and MF was .0024...is this even possible? (i would be a new bmw leasee, not qualify for loyalt prog). I was asking for monthly to be $420/month...which would put it a healthy +5% over invoice, a fair offer. Also, I didn't want premium package, just leather and Xenon headlights and he said BMW doesn't offer cars w/out packages...?! He wouldn't budge (didn't have to) because they had sold out of all inventory of 528i because of the $1k incentive...thanks to you, I'm definitely going to check around. Happy New Year!
  • dark_katanadark_katana Member Posts: 46
    BMWFS is certainly not offering 79% residuals and a regular bank has no incentive to subsidize leases so aggressively. In any event, there's no way that the payment the dealer quoted would equate with a 79% residual with $5000 down and the additional $1000 incentive from BMW even including the taxes.

    Keep looking. Any dealer can order the car for you from Germany and you can still lock the rate if you sign before 01/02/08. You might lose the $1000 incentive from BMW (that only applies to cars in current inventory), but you can make that up by some hard bargaining.

    Good luck.
  • kyfdxkyfdx Moderator Posts: 236,830
    Every member has a CarSpace.com e-mail account. Their e-mail address is always membername@CarSpace.com

    You can access your own e-mail account via the mailbox tab at the top right of the page.

    regards,
    kyfdx

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  • masterfungmasterfung Member Posts: 36
    Can we get the BMW MF and residuals for Jan on 535xi? 15 miles and 36 months. Thank you!

    :) Looking to buy in Colorado.
  • phoenixazphoenixaz Member Posts: 4
    For the veterans....do the residuals decrease and money factors typically increase after January 2nd? I'm thinking about ordering me 535i tomorrow (jan 2) before the rates change. Are the current rates pretty good or do you expect them to take a turn for the better in Jan? Thanks
  • carnaughtcarnaught Member Posts: 3,497
    They told me when I ordered that the rate at the time I order will hold unless the rate decreases when I take delivery in which case I would get the lower rate. Yours should be the same.
  • dark_katanadark_katana Member Posts: 46
    That's usually the way it works. My opinion however (and it's only my uninformed opinion so take it with a grain of salt) is that the rapid decline of the Dollar vs. the Euro is eventually going to have some effect on BMW prices or finance terms and that we're likely to see that take place in early 2008.

    It should also be noted that the 5 Series is set for a major redesign in 2009 so those of us buying or leasing 2008s will be driving an obviously older model as soon as 18 months from now and those of you who wait until later in the year to lease or buy will be driving the old model even longer.

    Just some things to factor in if you are thinking about holding off until January.
  • carnaughtcarnaught Member Posts: 3,497
    It should also be noted that the 5 Series is set for a major redesign in 2009 so those of us buying or leasing 2008s will be driving an obviously older model as soon as 18 months from now and those of you who wait until later in the year to lease or buy will be driving the old model even longer.

    I agree. That's the way I've played it when my 24 mo. 2008's lease is up.
  • sls1sls1 Member Posts: 45
    It's my understanding that the new 5 series body will be released in late 09/early10. Is that incorrect?
  • dark_katanadark_katana Member Posts: 46
    Nobody knows for sure, but the 2008 came out in March--April 2007. Most of the articles I've read have suggested similar timing for the 2009.
  • janus010janus010 Member Posts: 7
    Thank you carnaught. Took your advice. This was originally an order car but they were able to find one with the exact options I wanted at another dealership but with a different color - space gray instead of the monaco blue. So I reluctantly picked it up on the 31st. Im happy to say I have not regrets. P.S... it's a 6spd (exactly what I wanted). Im all smiles now :):):)

    Thanks.
  • dark_katanadark_katana Member Posts: 46
    Plus one for Space Gray--it's the sportiest color available on the 5. May I suggest you get it professionally detailed and waxed to make that flat gray pop?
  • carnaughtcarnaught Member Posts: 3,497
    Congrats. You'll love it !!
  • phoenixazphoenixaz Member Posts: 4
    Unfortunately I couldn't close a good deal today with any of the Arizona BMW dealers. They must have had a good buying season b/c none were willing to budge with prices. Now I'm forced to lease in January or Feb. Anybody know what the MFs and residuals are going to be for this month? When do the new rates usually surface? Thanks guys!
  • rothsranrothsran Member Posts: 8
    Does anyone know what the numbers look like (residuals/MFs) for this month? Also, is BMW still offering the 1k rebate it did last month?

    Thanks,

    Randall
  • skobolaskobola Member Posts: 207
    BMW introduces new body types after 7 years, with a slight refresh at 3rd/4th year. As the 5 series was introduced as a 2004 model, and slightly refreshed for 2008, it appears that it follows the BMW's way. Therefore, the new body should be introduced as a 2011 model, which may make it available in March of 2010, as it seems that the new-year 5-series are getting out at this time. This also makes sense that they did some changes to the design, like interior, headlights, front spoiler, and such for 2008. Probably they would like to milk this body in their usual fashion, that is, for the 3 coming years...
  • sls1sls1 Member Posts: 45
    hmm, assuming you are correct, a 24 month lease will leave me a couple months shy of the new release in 2010. Maybe I should extend my current 24 a couple of months... That said, the new body could be 2010 with a March 09 release.
  • x021627x021627 Member Posts: 152
    Heard from a dealer today, residual for 36mo.12k miles lease on 528xi was 62%. Money factor was .00225.
  • dark_katanadark_katana Member Posts: 46
    Those are the same as December's. He's either quoting you the December numbers or the Lease Rates haven't changed.
  • gleekgleek Member Posts: 5
    Would this residual (62%) and money factor (.00225) be the same for a 2008 535xi?

    Also, does BMW Financial offer balloon loans? If so, what are the current terms for A credit.

    Thanks!
  • dark_katanadark_katana Member Posts: 46
    As posted over at Bimmerfest

    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 40% of MSRP – .00295 Base Rate
    60 Month – Residual 32% of MSRP – .00295 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 40% of MSRP – .00295 Base Rate
    60 Month – Residual 32% of MSRP – .00295 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 40% of MSRP – .00295 Base Rate
    60 Month – Residual 32% of MSRP – .00295 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 40% of MSRP – .00295 Base Rate
    60 Month – Residual 32% of MSRP – .00295 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 34% of MSRP – .00295 Base Rate
    60 Month – Residual 27% of MSRP – .00295 Base Rate

    2008 BMW 550i Sedan
    24 Month – Residual 69% of MSRP – .00245 Base Rate
    36 Month – Residual 59% of MSRP – .00245 Base Rate
    48 Month – Residual 34% of MSRP – .00295 Base Rate
    60 Month – Residual 27% of MSRP – .00295 Base Rate

    2008 BMW M5 Sedan
    24 Month – Residual 70% of MSRP – .00295 Base Rate
    36 Month – Residual 57% of MSRP – .00295 Base Rate
    48 Month – Residual 42% of MSRP – .00295 Base Rate
    60 Month – Residual 34% of MSRP – .00295 Base Rate

    Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms

    Another words, the same as December's rates. No solid word on price increases yet but I hear rumors that BMW will raise prices on U.S. E60s by March 2008.
  • x021627x021627 Member Posts: 152
    Thanks, Dark Katana!
  • cafinfancafinfan Member Posts: 3
    Hello group,
    My employer wants to lease me a car with a budget of 1,100 a month for 24 months. I am interested in a 550i. No money down.I am in San Francisco, CA. Do you think this is possible? I am beginning to do my homework on leasing, etc.
    I still want to get the best deal possible and look foward to this as an exercise in learning about leasing.
    My strategy - identify exactly what options I would like. (Almost done)
    Make a list of all dealers within 100 miles.
    Contact all dealers to make an offer?
    what do you think?
  • dark_katanadark_katana Member Posts: 46
    Obviously deciding on what options you like is a first step, but before contacting dealers I would also suggest you obtain the Invoice and MSRP prices for those options. That information is available from Edmunds. After you find out the invoice cost for your car as optioned, you will be in a better position to negotiate.

    Also, I would be remiss were I not to to tell you that an $1100 a month lease payment is knocking on the door of the BMW 750i. According to Edmunds, there is a $5000 incentive from BMWNA to dealers right now on the Seven Series so it may be possible to get the payment down to $1100 a month even with a full slate of options on the 750i.

    You should definitely test drive the 750i if you are considering a 550i anyway.
  • jabberjabber Member Posts: 64
    Anyone know if there is still the $1k lease cash on the 5 series? Is it more, less, or gone?
  • tnguy1tnguy1 Member Posts: 20
    Comments on this lease deal:
    2008 550i MSRP 69,470. 36 months/36k miles, $0 down, 1st payment only, $1200 to pay off my current lease, $985/month + tax = $1072. I was told 61% residual, money factor of 0.0260
    Thanks.
  • x021627x021627 Member Posts: 152
    heard it was done and not applicable for January although residuals and money factors stayed the same.
  • chicago71chicago71 Member Posts: 1
    interestested in any views on a quoted lease payment of $813 per month on a 535xi black/black with premium and cold weather package. $12K per year for 3 years. 0 down and includes taxes. would pay first month of lease and registration at signing for $1018 at closing.

    Additional fact: I have a 330xi true lease that the dealer says can be used as a trade in to get me this deal. it is a 2005 with sport package and everything else, just about. 24K out of 36k used on a 3 year lease. Not sure if that matters, but the guy talked about helping with taxes, which did not make sense to me given this is a true lease.
  • dark_katanadark_katana Member Posts: 46
    Uhm, what's a "true lease?" :confuse: Isn't that an accounting/tax concept?
  • kyfdxkyfdx Moderator Posts: 236,830
    I think he means lease vs. balloon note, which are common in Illinois, due to high lease taxes..

    Guessing all that, given his member name..

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  • cafinfancafinfan Member Posts: 3
    $71,145 with a residual of 72% and money factor of .0030 for 24 months.
    Sound like a good deal?
  • dark_katanadark_katana Member Posts: 46
    With what options?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi loveandlight. BMW Financial Services will waive its security deposit requirement for returning lessees for free. For non-returning customers, it will waive the security deposit in exchange for a .00015 increase in their vehicle's money factor.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello masterfung. BMW Financial Services' January buy rate lease money factor and residual value for a 36 month lease of a 2008 535xi with 15,000 miles per year are .00225 and 60%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Randall. Unfortunately, the $1,000 lease cash incentive that BMW was providing on the 2008 5-Series in December was not continued for January.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gleek. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 535xi with 15,000 miles per year are .00225 and 60%, respectively. This car's 12,000 mile per year residual value is 2% higher. BMW FS does offer balloon notes, but given their lack of popularity I do not personally keep tabs on balloon note programs.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey jabber. x021627 is right. Unfortunately, the $1,000 lease cash incentive that BMW was providing on the 5-Series in December is no longer available in January.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tnguy1. You never mentioned the selling price of the 550i that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of the vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy give you my opinion of this deal if you let me know what its selling price is.

    For now I can tell you that the money factor that you were quoted for this car is correct for non-returning BMW FS customers who have their security deposit waived.

    Car_man
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  • tnguy1tnguy1 Member Posts: 20
    Car_man,

    Thanks for your input. The selling price is 67500. So the gross capitalized cost is 68198 (67500 + 625 acq fee + 45 doc fee + 28 DMV titling fee). Cap cost reduction is 850. Adj cap cost is 67348. Resid value is 42071. Tax is 8.75%. Thanks Car_man.

    tnguy1
  • loveandlightloveandlight Member Posts: 19
    Thanks Car_Man!

    I ended up getting a pretty good deal on a 2008 535i. Thanks for all your help everyone, this site is awesome!!!

    MSRP $60,670
    I paid $57,705
    No sales tax - (end of year tax credit)
    no security deposit
    MF .0024
    $1000 back from BMW used for down payment
    Monthly payment $781
    36month/12,000 mile lease - 62% residual
  • sls1sls1 Member Posts: 45
    Does BMW require payment of the acquisition fee for current owners? If so, should I be paying that separately or should that be rolled into cost?

    I was offered the following deal
    2008 535i, premium package, sirius, ipod adaptor
    MSRP- 52870
    Cap Cost-50,870
    24 months 12,000 miles per
    $0 down and no security
    $640 plus tax
    (out of pocket is first, tax, tag and acquis fee of $625
    Good deal?
  • dark_katanadark_katana Member Posts: 46
    Everybody pays the acquisition fee, current owners included. You can pay it up front or roll it into the lease. Personally, I like to pay it up front along with tax and security deposit if any so that the only thing my poor brain has to calculate for the lease payment is the cap cost.
  • dark_katanadark_katana Member Posts: 46
    Awesome deal loveandlight! Enjoy.
  • sls1sls1 Member Posts: 45
    That's what I thought. Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, tnguy1. OK, so you were quoted a selling price of $67,500 on a 2008 BMW 550i that has an MSRP of $69,470. This amounts to a discount of just under $2,000. This car probably has a spread of around $5,500 or so between its MSRP and its dealer invoice price. So that puts the price that you were quoted at around $3,000 over invoice. I am not intimately familiar with what the market is like for the 550i right now, but that's enough room that if there is another BMW dealership to two in your area it wouldn't hurt to shop around. Also, make sure to stop by the "BMW 5-Series Prices Paid and Buying Experience" discussion to see how much other community members have paid for similar cars lately.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, loveandlight. Thanks for stopping back and sharing the details of your lease with everyone. Make sure to visit the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others. Enjoy your cool new ride :shades: .

    Car_man
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  • claire_mclaire_m Member Posts: 4
    for an '08 528i w/ premium and cold weather packages + park distance control on a lease RETURN car (14K miles already on car).
    24 month lease
    $5k up front
    $450/month (includes tax, my tax rate is$ 8.75%)

    need to decide ASAP. please offer much needed ADVICE! I'm a bit hesitant on a "used" lease car.. is this a good deal? THANK YOU!!
  • x021627x021627 Member Posts: 152
    claire: you are buying down the monthly lease rate, by reducing your capitalized cost with the $5k down. You should look to never put any money down on a lease. You didn't mention the selling price as well as the residual and money factors the dealer is charging you. hard to know if it's a good deal without it. I'd like to see the maintenance records on this car and you can also try CARFAX since the 14K miles were put on in a very little period of time. You could probably due better on an new vehicle. they are alot of smart folks on this board that can give you better responses then I, but I just mentioned a few things I have learned so far on this board.

    Good Luck!
    x021627
  • bokononbokonon Member Posts: 9
    535xi Touring
    Premium Package
    Cold Weather Package
    Sirius
    Navigation
    Park Distance Control
    MSRP $61,270
    Invoice (including $775 destination, $180 training, and $300 MACO) = $56845

    Dealer offered $1500 over invoice = $58345
    MF=.00225 base rate - .00045 loyalty - .00049 multiple security deposit =.00131
    Residuals = 69% for 30 months or 63% for 36 months (both @ 10K miles per year)

    Dealer wants to mark up acquisition fee from $625 to $825, but I hope to knock that down.

    I didn't get all the way down to 2% over invoice, but good deal?
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