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2013 and earlier BMW 7-Series Lease Questions

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  • mann1970mann1970 Member Posts: 4
    I am looking at similar car with 92800 MSRP and geting $15K off the MSRP. On 3 year lease with 12 K miles my payment is coming to $1175 with taxes. The money factor they are giving me is .00225 (I am not previous BMW owner) Which dealer did you use to get your deal? and what was your motivation to get the 08 model when the 09 is coming out in March? I am going through this dilema. Should I buy the 08 or wait for 09?
  • californiamicaliforniami Member Posts: 11
    IMHO....15k off the 92.8k car is a sweet deal....a couple of things for you to consider....i wasn't a previous 7 series owner either...but they gave me their buy rate (at that point it was .0020)....then I increased my security deposit 8x to buy down the money factor even more....I also intentionally leased it for two years vs. three....the monthly worked out better than the three year...and then I figured, I could swap it out for the newer model after the 2009 year had some time to work out its kinks (each new 7 series model has never been bug free its first year) and so that I wouldn't have to deal with gouge pricing that I thought would be happening during the early months of the new car launch.
    Hope that helps. Let me know what you end up doing...good luck!
  • mann1970mann1970 Member Posts: 4
    Thanks for the quick input. I will keep you posted on my move.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mann1970. If you haven't pulled the trigger on your lease yet, you're in luck...BMW significantly enhanced its lease program on it on Friday. BMW Financial Services' new buy rate lease money factor for a 36 month lease of an '08 750Li is .00110...less than half of the previous factor. This should shave more than $100 per month off of your car's payment. If I was personally in the market for a new 7-Series, I definitely would lease one now using this new program rather than waiting for the 2009 model. I don't think that it's going to get any better than this for a while.

    One other thing. I see that you are considering making a $5,000 down payment on your lease. You would be much better off keeping that money in the bank, even though it means that your monthly payment will be a little higher. I say this because if your car is totaled there is a good chance that your down payment will disappear.

    Car_man
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  • mann1970mann1970 Member Posts: 4
    Car_Man, thanks for the update. I did pull the trigger on Sunday on Michigan Blue 750LI with Cream Beige. MSRP 93620 and got 14620 off the MSRP. I was able to take the benefit of the low MF. I did a two year lease with 12K mile per year. I used Coast BMW in San Luis Obispo. Good people to deal with.
  • eric312eric312 Member Posts: 71
    Car_man,

    What is the money factor for 750i for 39 months or BMW only leases for 36 months? Also, what is the residual? What do you think is the reasonable discount off MSRP right now given the economy and end of the model year?

    Thank you.
  • shawn757shawn757 Member Posts: 204
    Car man,
    Thats great news. Is this for new customers or returning loyalty? What is the loyalty money factor for returning customers?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, mann1970. Congratulations on getting your cool new ride. Enjoy and if you'd like, you can stop by the Dealer Ratings & Reviews section of Edmunds.com to tell everyone about your recent dealer experience.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi eric312. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 BMW 750Li with 15,000 miles per year are .00110 and 50%, respectively. I am not personally all that familiar with what the market is like for this car right now, but if I was interested in one in this sort of market I would shoot for a significant discount...as close to dealer invoice as possible. You may be able to get an idea of how much you should pay by visiting the "BMW 7-Series Prices Paid and Buying Experience" discussion.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey shawn757. I believe that BMW eliminated the loyalty discount when it made the enhancement. BMW Financial Services' new buy rate for the '08 750Li is .00110.

    Car_man
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  • shawn757shawn757 Member Posts: 204
    Thanks car man. Is it true that BMW is also waiving off the first 2 months payments if you lease now?
    thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, shawn757. I have not heard anything about a waiver of the first two month's payments.

    Car_man
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  • shawn757shawn757 Member Posts: 204
    Thanks car man, one more thing how much should the bank fee be? I don't want the dealer to mark it up
    thanks
  • del735del735 Member Posts: 2
    Car Man,
    I have a two part question for you. First part is the $7500 dealer allowance that BMW is offering. Is this only applicable if the car is being purchased and not leased or is it valid on leasing as well?

    Second question, based on the following figures can you tell me what you feel my total lease payment should be based on BMW's current MF and residual. The dealer and I don't seem to coming up with the same amounts. (I am a current BMW leasee)
    MSRP $89,270
    Cap cost $79270
    36 month, 12K
    Sales Tax 6%
    No money down except first payment, acq. fee, and tags

    Thanks for your help!!
  • shawn757shawn757 Member Posts: 204
    They are only giving you $10000? I am being quoted $15000 off MSRP. Since you are a current customer you should be able to get the buyrate mf WITHOUT security deposit.
  • del735del735 Member Posts: 2
    Shawn,
    The dealership manager told me he's losing money if the car goes below 12,000 off. That's where he's at now with a total payment of $1100 for a 36 month lease.

    How did you get $15K off and what are being quoted for a lease payment?
  • shawn757shawn757 Member Posts: 204
    There is like $6500 between the invoice and MSRP + $7500 incetive. They also have backend money I was told. But I don't know how much exactly. Your sales manager is not being straight forward with you saying he is losing money. Car that I am looking at is just above $90000 and they are willing to give off $15000 off MSRP. The payment would be just over $1000 like $1031 and some cents including tax. But they want a security deposit to get down the money factor to .00110. This is for 15K miles with minimum drive off $2200 + the security deposit.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem shawn757. BMW Financial Services recently raised its base acquisition fee from $625 to $725.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi del735. The $7,500 dealer cash that BMW is providing on the 2008 7-Series is not compatible with its special lease program.

    Let's work up a sample lease payment for you and see what we come up with. According to my calculations, if you were to lease a 2008 BMW 750Li that has an MSRP $89,270 and a capitalized cost of $79,270 through BMW Financial Services right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $1,051.

    Car_man
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  • shawn757shawn757 Member Posts: 204
    Hey Car man,
    I want to know one more thing before I buy, how much does BMW charge for additional miles upfront? Is it 0.15 cents a mile? If so is it possible for me to do a 10000 miles a year and buy whatever miles I want upfront? Doing the math it seems like there is a savings if I do that rather than paying 4% for the residual. Let me know soon
    Thanks
  • eric312eric312 Member Posts: 71
    Do you know if BMW allows 39 months lease on 750i or only 36 months?
    What is the money factor and residual for 750i for November?
    Thank you.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi shawn757. I am not sure how much BMW FS charges for additional miles purchased at lease signing. It probably has an excess mileage penalty of $0.25/mile at lease end, so your guess of $0.15 to $0.20 is probably right. A dealer should be able to tell you for certain. I doubt that dealers can mark up pre-paid miles.

    Most banks do not allow the purchase of additional miles on low mileage leases, i.e. those with 10,000 or 12,000 miles per year, only on 15,000 mile leases.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi eric312. I don't believe that BMW was allowing 39 month leases of any models in October. I have not seen BMW's new November lease program yet, but I suspect that I will either today or tomorrow. If you still need the new program info then, post a quick reminder for me in this discussion and I will let you know what I have been able to find out.

    Car_man
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  • shawn757shawn757 Member Posts: 204
    Thanks car man. If you can let me know the money factor for 36 months lease that would be great. I am going to lease one very soon but don't want to till I know the MF. Did the owner loyaly come back again?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome shawn757. BMW Financial Services' November buy rate lease money factor and residual value for a 36 month lease of a 2008 BMW 750Li with 15,000 miles per year are .00155 and 50%, respectively. I don't believe that the owner loyalty offer came back.

    At the end of October, BMW paid its dealers a $10,000 dealer cash allowance on any 7-Series models that they reported as sold. Chances are that you can take this allowance into account during your negotiations.

    Car_man
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  • shawn757shawn757 Member Posts: 204
    Thanks Car man, I just leased a 750LI For $1057 including tax.
    $90470 MSRP
    $73850 Cap cost
    $3517 drive off which included a $1100 security deposit
  • shawn757shawn757 Member Posts: 204
    MF 0.00155. 15 K MILES. Bank fee $725+ tax on the bank fee. Is that correct? I think I could have done better but did not want to drive a long distance to another dealership.
  • evanbuskirkevanbuskirk Member Posts: 1
    I'm interested in leasing a new 2009 750i and want the new stop and go adaptive cruse control and a heads up display.

    Do you have any information on pricing and money rates for the new model yet
  • bmlexusbmlexus Member Posts: 755
    Hello shawn,

    Congratulations on your new bmw, hope you have many many happy miles with your new car,

    Btw what car did you drive before, which was replaced by the 7series?

    I am just curious, didn't you want to wait for a week or so to check out the new 7 series? or have you already seen it?

    When bmw gives you 3 years warranty, is everything covered on that?
  • ol_green_eyesol_green_eyes Member Posts: 1
    I'm relatively new to all of this and thought that with lease offers--they "are what they are." Only after registering for this site did I realize that I was wrong in my thinking. Any suggestions with negotiating the 36 month lease for a 2008 BMW 750Li (current special about 909/month and $5359 due at signing. Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, shawn757. Congratulations on getting your new ride. Enjoy :shades: .

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey shawn757. The money factor and acquisition fee that you were quoted are right in line with BMW Financial Services' current lease program for this model.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome ol_green_eyes. Since you are new to leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. The key to getting a good deal on a lease is to shop around and negotiate as low a selling price as possible on the car that you want. Once you have arrived at a selling price that you are comfortable with, have the dealer calculate its monthly payment using BMW Financial Services' buy rate lease money factor for it, which is currently .00155.

    Car_man
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  • malibugagamalibugaga Member Posts: 5
    My lease on Range Rover is ending soon and I was considering leasing 7 series. I just learned that BMW is coming out with a new 2009 version of 7 series. I have not seen any questions about leasing 2009 7s....is it possible to lease one? If so what kind of deals are out there? Is this the reason why 2008s have special lease programs? (or do they?)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi malibugaga. It will be possible to lease a 2009 7-Series, but to the best of my knowledge BMW has not published a lease program for it yet. It's difficult to say what its lease program for the new 7 will be like when it rolls out, but my guess is not good. Even in the current challenging retail environment BMW will probably to hold of on the fire sale leases for a couple of months.

    BMW is providing a ton of support on the 2008 7 right now in the form of dealer cash, special financing rates, and a special lease program.

    Car_man
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  • eric312eric312 Member Posts: 71
    Car man,

    Did BMW add new programs for month end? Do you know if there will be any new specials in December?
  • bmlexusbmlexus Member Posts: 755
    Thanks Car man, I just leased a 750LI For $1057 including tax.
    $90470 MSRP
    $73850 Cap cost
    $3517 drive off which included a $1100 security deposit


    After spotting my first new 7 series today, I was quite surprised how good looking it was in person.

    I hope you won't regret not getting the new 7 series, without looking or testing it.

    No reply’s since your purchase?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi eric312. I have not heard about any enhancements to BMW's program for the end of the month. Its November lease program is scheduled to run through the end of the year. It is difficult to say whether it will make an unscheduled enhancement to it for December. If it does, chances are it will roll it out Tuesday afternoon after it announces its November sales.

    Car_man
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  • hawaiian2hawaiian2 Member Posts: 2
    Aloha Car-man
    Just wanted to run this by you to see if I am getting a good deal or not. Day before yesterday I went to BMW/Honolulu to lease a jet black 750LI MSRP 90,000.
    They offered the vehicle at $77,000. Original they wanted $5500/No security deposit/36 months/$995 w/tx/Pay off the S550 payment of $2404.00
    Now they offered the vehicle at $77,000 and pay off the remainder of my S550 ($2404.00) a down of $3500.36 months/1056 tx included. When I calculated the new payment, I discovered that they buried the $2196 in the 3 years lease. What do you think? Is this a good deal. I told them I want to keep the $3500 down and pay the $995.00

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Aloha hawaiian2. I need to start things off by saying that I'm jealous. It's 40 degrees outside my window right now. Wow, $13,000 is quite a discount for a Hawaiian dealer. I've always heard that there is so little competition there that dealers aren't usually willing to provide much in the way of discounts. Still, this offer is way above dealer invoice. There is probably around a $7,000 spread between this car's MSRP and dealer invoice price. Add to this the $10,000 incentive that BMW paid its dealers on any '08 7-Series units that they had in inventory and there's a total of $17,000 or so to play with in negotiations. That probably puts the offer that you were quoted at around $4,000 over invoice. If you were in the continental U.S., I would say that there is still room to negotiate, but you're in Hawaii. As I mentioned earlier, this hampers your ability to negotiate somewhat. Of course, that's a small price to pay for living in paradise ;). There's some room there, so give negotiation a shot, but don't be surprised if this is as good as it gets.

    Ideally, you would wait until the scheduled end of your current lease to get a new vehicle so that you don't have to waste the remaining payments on your S.

    Car_man
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  • hawaiian2hawaiian2 Member Posts: 2
    Aloha Car_man!

    Just wanted to say thank you for your email. I did wait and play the poker game with them and got what i wanted. I got deal down to $1995.00 and three years lease at $995.00 Tx included fully loaded 750LI Black on Black. :D
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    That's great hawaiian2. Thanks for taking the time to report back and let us all know how everything turned out. Don't forget to hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience if you haven't already. Enjoy your sweet new ride :shades: .

    Car_man
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  • eric312eric312 Member Posts: 71
    Car man,

    Is it still possible to lease 2008 750? If yes, what are the current deals?

    Thank you
  • MSUHOCKEY7MSUHOCKEY7 Member Posts: 4
    Mr. Car Man,

    I am in the market for a car and have been looking around at various cars. One of the local BMW dealerships sent out a 2008 Blowout email with different cars. One of them was the 2008 BMW 750LI. I am curious to see if this is a good deal? They want $5995 down, 36 months, 10k miles plus inception fees.$599.00 a month I asked them for an itemization of these fees and this is what they came back with. It seems like it is excessive but want to see what are legit charges and what are JOKES.. I very interested in getting the most bang for my buck but want to get some confirmations on this. It is a new car with only 25 miles on it.

    $10,816.40= TOTAL FEES....

    $5,995.00 Cash Money Down
    $599.00 First Payment
    $600.00 Refundable Security Deposit
    $2003.33 NJ Taxes (Other States may vary)
    $875.00 Bank Fee
    $185.00 Doc Fee
    $268.77 NJ Supplemental Taxes
    $7.50 Tire Fee
    $282.80 DMV Charges

    Specs of the car are as follows:

    Model
    0879 750Li
    USD 79,900.00
    Color
    354 Titanium Silver Metallic
    N/C
    Upholstery
    U6SW Black Nasca Leather
    N/C
    Options
    ZLS Luxury Seating Package
    2,200.00
    248 Heated steering wheel
    N/C
    415 Power rear sunshade
    N/C
    416 Power rear sunshade and rear side-windows s...
    N/C
    451 Active seat for driver
    N/C
    453 Ventilated front seats
    N/C
    464 Ski bag
    N/C
    496 Heated rear seats
    N/C
    ZPS Premium Sound Package
    1,800.00

    672 6-disc CD changer
    N/C
    677 Logic7 sound system with Surround Sound and...
    N/C
    R6 19" Light-alloy wheels Star Spoke (style231) wi...
    1,300.00

    438 Dark Ash wood trim
    N/C
    Net Total
    85,200.00
    Destination Charge
    825.00
    Total Suggested Price
    86,025.00

    Thanks, any help is appreciated..

    I eagerly wait your reply.

    MM
  • cctdicctdi Member Posts: 82
    I got my 750Li from DeSimone BMW of Mt. Laurel here in South Jersey not too long ago with 16k off the 89k MSRP; this dealer had sold me 3 Bimmers so far, including a 08 535xi in late Spring. Now, it is the best time to negotiate the even lower price, all 7er has to go to give the room for 09 7er; then again, there are not that many 08 7ers left, to my knowledge, only a few left in a few dealerships. The 08 7er is a wonderful car indeed, if you want to get a premium luxurious car to keep, this is it.
  • MSUHOCKEY7MSUHOCKEY7 Member Posts: 4
    Mr. Car Man or Mr. kyfdx,

    I have been checking back on the board daily to see if either of you would offer up some feedback. Can either of you post something one way or the other. Or if you dont know just let me know. I thank you very much.

    MM
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi eric312. Technically it is still possible to lease an '08 750i if you can find one. BMW paid dealers ten grand apiece to report them as sold back at thee end of October.

    BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 750i with 15,000 miles per year are .00155 and 50%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi MSUHOCKEY7. Let me begin by saying that $6,000 is way too much money to put down on a lease. I always advise consumers not to make any sort of capitalized cost reduction when leasing. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be higher, you would be much better off going with a zero down lease.

    You should roll the sales tax into your car's payment as well for the same reason that I laid out above. New Jersey allows lessees to do so.

    Something else that I notices about this deal is that the dealer is attempting to mark up BMW Financial Services' acquisition fee. BMW FS charges a base acquisition fee of $725 on every vehicle that it leases. This dealer is trying to slip a little extra profit into your deal by marking this fee up $150. If I was leasing from this dealer, I personally would insist that they drop the markup.

    You posted a lot of information, but you left out the two most important numbers...this car's selling price and money factor. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, you don't know how much of a dealer discount you are being given. Let us know what it is and I am sure that either myself or another knowledgeable community member will gladly give you their opinion on it.

    BMW Financial Services' current buy rate lease money factor for the 2008 750Li is .00155. If the dealer is charging you any more than this, they are marking up your car's factor to add additional hidden profit to your deal. BMW dealers are notorious for doing this. Make sure to insist that they use the buy rate.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi MSUHOCKEY7. Please see my previous post. Thanks and let us know if you have any other questions.

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  • campioncampion Member Posts: 7
    i am enterested in leasing a 759i bmw 2009 i see the list prices have come out the car i will be ordering has no options a 3yr lease and 10 miles per year once the other lease factors come out what payment figure should i go for in mass. or florida also any news when they would available
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