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BMW 5-Series Lease Questions
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If anyone can help let me know. Oh also drive offs of 3670 I believe.
Thanks!
Thanks for the helpful information. I just put a down payment on an 06 530xi wagon. Here are the details.
MSRP- 56,070
Invoice- 51,590
Negotiated Cap Cost- 53,000
MF- .0012
Term- 36 Months
Milage- 12,000
2,400 drive off (includes 1st month, security, bank fee of 850, and title taxes, etc)
Based on my calculations, the dealer made approx. 1,600 on the car (1,410 on the car and 200 on the bank fee).
How did i do ? I was pleasantly surprised to see the MF at .0012 as I was expecting .0016.
24 mo/ 10K miles
36 mo / 10K miles
This site is unbelievable. Have learned a ton about leasing in the last few hours.
the msrp is 56,770; i believe invoice is 52,420 and the selling price is 53,515 for the 2006 530xi wagon (premium, automatic, sports package, 18" wheels). they have come down in pricing.... so now we are at drive off of $1,115 and monthly payments of $667.70 (that's including california tax). no longer giving them my trade-in! how did we do?????
thanks in advance!!!!
First time BMW owner. NY state resident. 780 Credit score.
530i:
MSRP 56385, 12k miles per year, 36 month
leather
cold
smg
M aero kit
525i:
MSRP 47020, 12k miles per year, 36 month
Steptronic
Cold
Xenon
Please let me know any help is great.
Dan
You might want to consider looking at an 06 530xi bc the residual value is still 62% and the MF is considerably lower. In addition, you should be able to negotiate a better deal on an 06 than an 07.
The reason I ask the last two questions is the salesman's numbers seem to be quite a bit higher than I expected. Also, will they generally waive the standard security deposit if you have excellent credit?
I'm looking to do a 36 mo lease, 12,000 mi/year, zero down and buy down as with as many security deposits as they will allow. Anyone have a recommendation for a reputable dealer in O.C. CA?
Thanks a million, CarMan. This forum has been very helpful.
The reason I ask the last two questions is the salesman's numbers seem to be quite a bit higher than I expected. Also, will they generally waive the standard security deposit if you have excellent credit?
BMWFS has a $625 lease acquisition fee (and a $350 disposition fee, but only if you don't end up buying the car at the end). All leasing institutions have an acquisition fee, so this is not exclusive to BMW. The fee, however, varies from one financing company to the next (e.g. GMAC might have a $599 acquisition fee or VW might have a $500 fee... not necessarily the actual real numbers; just an example for the explanation.)
The security deposit is equal to your monthly payment rounded up to the next $50 increment. (e.g. If your payment is $644, your SD is $650. If your payment is $651, your SD is $700.)
Nothing can get waived based on credit. The SD can be waived if you are coming out of a BMWFS lease and into another one. It can also be waived by adding 0.00015 to the money factor.
The only other fee that you might see if the dealer doc/prep fee. I think that CA is a flat fee of $45? Is that right?
I was quoted $415 for "DMV fees" and told this included vehicle registration, which seems about right in CA.
The lease offer is for 15,000 miles and 36 months with 0.20 cents per additional mile.
The dealer quated me a $789 lease based on a 2,000 down payment, a 60% residual value, a 395 final get ready fee, and a .00235 money factor. From the sounds of the discussion that money factor is way too high. I have good, but not excellent credit. What money factor should I be targeting? Is that the correct residual value?
Also, now that I have that deal in had, I wanted to shop another St. Louis area dealer to see if I could do better. Do you have any recommendations on strategy?
Thank you all for these postings and your time. I realize that you don't have to do this so I value it even more. You are making this dauting task much more manageable.
William
Oh yeah, I forgot to mention DMV fees.... Obviously you have to pay the state their fees for title/reg/plate. And every state is different, of course.
I believe the best deal on good credit right now (money factorwise) is .00225 with a security deposit. (Which may be waived if you are a current BMWFS customer.)
Rather than putting money down, you may want to look into placing multiple security deposits. Each additional security deposit (up to seven) will "buy down" the money factor by .00007. For instance, I was able to "buy down" my MF rate to .00176 by placing an additional seven security deposits. I'd only recommend placing a down payment if your total lease payment is just above the nearest $50. (For instance, if your total lease payment works out to $752, it may be in your best interest to place a small down payment to get it under $750, as your security deposits get rounded up to the next highest $50 mark.)
I'm told they aren't "dealing" much on the 2007 models at this point, since they are brand spanking new. If you can find a 2006 that you like, you can get a smokin deal on one of those. I was only able to negotiate 2% off MSRP on the 2007, but you can do much better on a 2006. (Mine is a 530i, if that makes any difference. I believe they produce more 525's, so you may have greater negoitiating power.)
I wasn't able to find any "cost" figures for the 2007 models, but MSRP increased $700 (over the 2006 models) on the 530i, with all the options remaining the same.
I am being offered the following deal on 2006 530i with premium package, premium sound, cold weather, rear heated seats: 36 month/12k lease
MSRP 53170
Invoice 49110
Selling price: 51110
MF0.0016 and residual 61%, acquisition fee: 825
Drive off 1130 and monthly payment 725
I would like know your comments on this deal and particularly selling price. :confuse:
12,000 miles per year. 8% sales tax. Onondaga county, New York
I plan to lease through BMW finincial service.
What should be the money factor, residual value and monthly payment. Can Lease price of $55080.00 can be lowered?
Please help. JITT
Any information would be appreciated.
Thanks,
Stacy
MSRP 58415
Invoice about 54090
APR 2.8%
MF .00116667
Residual 62%
36 month lease
12k
$578 monthly.
$3250 down.
From the above figures have concluded the following. Read that I should shoot for $1500 over invoice. Obviously there trying to make 2+ times that. Would go with 0 down and up to 7 more security deposits to lower MF. So the payments will change some but overall wonder if this will be a fair deal.
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Generally speaking, the fact that you want to order your vehicle might actually give you less bargaining power than if you were to purchase one off of a dealer's lot. This is because dealers are usually more anxious to unload a vehicle that they already have in inventory and are paying floorplan interest on than one than a vehicle that doesn't even exist yet. Furthermore, the sooner you take delivery of your new vehicle, the less likely it is that your deal will fall apart. If you take immediate delivery of a car that a dealer has in stock, you don't have time to change your mind or shop around like you would if you had ordered a vehicle.
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2006 530i with auto,pp,sp,nav.
MSRP: $54,670 INVOICE: $50,050 SELLING PRICE: $52,050
1 security deposit for .0014 money factor on 36/15K lease.
My deal in other words was $2,000 over invoice plus I gave away another $200 on the acquisition fee for a total of $825.
Payments are 719 including 7.75% tax.
Normal drive off with no cap cost reduction.
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I don't think that offering half way between MSRP and dealer invoice on a 2007 5-Series is a bad deal. According to what I have heard, dealers are not heavily discounting this car yet. They are still focused on unloading any remaining 2006 models. The money factor that you were quoted is not really that far out of line either. BMW FS' current buy rate lease money factor for a lease of a 2007 525xi is .00225 with the payment of a security deposit and .00240 with the deposit waived. The residual that you were quoted is correct, but this is not normally something that consumers really have to worry about because dealers do not have the ability to alter it.
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Furthermore, the money factor that you were quoted for this car is a little high as well. BMW FS' current buy rate lease money factor for a 36 month lease of an '06 530i is .00140 with the payment of a security deposit. Make sure to insist that the buy rate is used to calculate your car's lease payment.
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From what I read you seem to be the person to ask. I drive a 1998 Town Car, recently I had the pleasure of being a passenger as well as taking a 2007 530xi for a drive and absolutley love this vehicle. I have always owned and have never leased. My nephew who always leases says he wants to drive a new car every few years, my son on the other hand says I will never own anything if I lease. I checked to see what my payments would be with $11,000.00 down and they would still be around $832.00 per month! what would you recommend to someone who has never leased? I drive my owm vehicle about 10,000 miles a year because I have a company car, but I cannot use it when not working, please help it you can
2006 525i Titanium silver / gray leather...automatic, premium pkg. $46470 msrp $44710 your price
608 + tax for 36 months (659 total) with just 1963 to start (acquisition fee, registration and first payment)
2007 525i Black on black leather....automatic and premium pkg. $47470 msrp $46270 your price
677 + tax (733 total) 2035 drive off
Is that a good price??
Does anyone have any comment?
Any help would be great,
Thanks
BMW 530Xi, 36 Months, 12k Miles
MSRP: $55,270
Invoice: $51,490
Sale Price: $53,490
Residual: $34,267 (62.0%)
Money Factor: 2.6000 ????
Location: Bay Area
No Past Lease Experience
Called me and told me I need 4,000 Security + 2,500 down, or BMWFS says no deal, does that make sense?
Also can you explain "Money Factor" and why mine is off by a factor of 1000 to all the other posts?
Thanks!!! :confuse:
$52,000 buy price
.00225 money factor
$18,000 trade in on my Audi (i own outright)
$29640 residual
Am I looking at $340ish on a 36mo lease?
'06
Residual will go from 59% to 58%
MF will go from .00230 to .00255
'07
Residual will go from 60% to 59%
MF will stay at .0028
Is this in line with what others are getting or is this guy just trying to get me to buy this weekend?
Thanks
I desparately need some help!
Could you provide me with the money factor and residual values for the 5 series, as well as the 3 series for May?
I am not sure if I want the 5 or the 3 series at this time.
Could you give me a break down?
'06 525i; '06 5301
'07 525i; '07 530i
'06 330i
Please provide the #'s for a 24 and 36 months lease. Thank you so much for your help!!!
I am new to leasing but I have been following these posts for a while now. I am looking to lease a 530 xi in the next few months and I do have a few questions for the group:
1) Every post encourages getting the "base money factor", but how can I be sure that's what I'm getting?, i.e. is there any independent verification?
2)The money factor for the 2006 (~.140) is much less than what I have seen for 2007 (~.225). Do those change as the months go on, i.e. is it based on interest rates alone, is is there some supply and demand factor thrown in?
3)Exactly what is negototiable and what is set in stone during the lease process? My understanding is that residual is set by someone else, but what aspects are available for "discussion" with the dealer?
Am looking to lease probably some time in the summer.
Thanks,
mark1234
24 mo/15k mi – Residual Value 70% of MSRP – .00225 Base Money Factor Rate
36 mo/15k mi – Residual Value 59% of MSRP – .00225 Base Money Factor Rate
48 mo/15k mi – Residual Value 42% of MSRP – .00310 Base Money Factor Rate
60 mo/15k mi – Residual Value 33% of MSRP – .00310 Base Money Factor Rate
Since you are new to the world of leasing, may want to check out the following informative articles that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. Take a look at them and let me know if you have any specific questions.
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