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2014 BMW 3-Series Lease Questions
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konacoug, I am in Northern CA (Bay Area). I'd appreciate any good CA's you might know to refer. Every dealer I've contacted has marked up the MF after negotiating a good sell price.
Thanks to kfydx as well for the input. You guys have been very helpful.
Question about qualifying for the best MF when leasing. I had a 680 credit score that qualified me to lease with MF of .0013 and a financing rate of 3.19% if i was to purchase the car. How does the dealership determine what to give me on my MF? Do I not qualify for the lowest MF with a score of 680? If i ordered my vehicle and it took more than a month before i was able to take delivery, (34 days to be exact) should there not be a record of what my credit score was when i was first approved? I was told that my score was 680 when i was approved. Finance manager claims that his dealership location no longer has record of the credit score. I will be contacting BMWFS for the score. MF given to me was .0017...
675 qualifies you for the best rate.. 640-674 bump is .00020, and 601-639 adds .00040.
If the dealer is charging you .00170, you just have to ask him: "Am I being bumped for my credit score, and if so, what is that score? Or, are you just marking up the base rate?" Because, they can't bump you for your credit score, without knowing that score, right?
See if this helps you guess what they are doing: The maximum markup to the base score is .00040, so if you qualified for the best rate (.00130), and they marked it up the maximum, it would be .00170. (Isn't that what they quoted you?)
Be sure to ask them that direct question.... because, when put on the spot, I don't think they will lie about your credit score. That would be a big deal.
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trying to get a deal on a "demo" 2013 328i xdrive with 8500miles. Has tech, premium, cold packages + Dark wood trim. the msrp is $47945, selling price at 37999. mf .00130, residual 56%. bank fee $925, doc fee $75.
I'm just wondering if the selling price might be too high for a demo with 8500 miles. He is quoting me $499 a month with only first month +dmv down.
I may be going crazy but the numbers don't seem to add up at $499 a month.
any ideas?
thanks in advance.
You have to account for the 8500 miles when calculating the residual. That is going to lower the residual by $2400..
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I recommend you try Jon Shafer at Santa Barbara BMW. He is a founder of the forum Bimmerfest and he is a straight shooter. The dealer is just giving you a good sell price, but then just taking it away with the higher money factor. Send an email to Jon with what you are looking for and he should take good care of you.
As Kyfdx explained, a 675 credit score qualifies you for the best rate. I believe the dealer is screwing you about the money factor. However, you should obtain your own scores, I used Credit sesame, didn't cost me anything, I get an update at least once a month with my Experian score.
Finally, maybe you should start over with fresh dealers....ask for full disclosure, request the base mf and acquisition fee.
Well, you basically are leasing a used car... the residual is killing you at 57%. I believe you could probably lease a new model at close to the same offered payment. It is impossible for me to check the numbers without all of the deal details. You can plug your numbers into the lease calculator here on Edmunds and it should get you pretty close. Perhaps, you might want to consider, leasing a lower package 3 too....
Try the sales manager from East bay BMW. I leased a 13 535 during the lease promotion in Dec 12, we got the car at invoice + fee + advertising (350) + base finance rate + an all weather mat in Dec 12 with very limited negotiation. We also leased a 14 Z35 is in Jan 14 from Steven Creek (East bay did not have the color combo) also at base rate + invoice + a BMW jacket (they gave us a due bill for an all weather mat, except that BMW does not make all weather mat for Z4, so I picked up a jacket instead). In general, Bay Area is a tough place to get base rate + invoice unless you ran into a clearance situation. You need to negotiate hard for them. The further out from Silicon Valley or SF, the easier it is. I talked to Jon about the Z4, I think he could have given me a better deal (but I have to drive to Santa Barbara to pick the car up. Not a bad way to take a few days to visit LA but it is additional expense). The bimmerfeat sponsor (Jon is one of them) are really good w pricing and service. I couldn't go w Jon because my wife decided that she wanted the Z4 literally on 12/31, he was off on 1/1, and all the credit expired on 1/2. But I will go w one of the Bimmerfest sponsor in a heart beat if I want to get another BMW..
kyfdx: I'm based in NY. Can I get MF and residual for 36 month lease, 15K miles/year on each of the 320i x-drive and the 328i x-drive? Thx.
I'm based in NY. Can I get MF and residual for 36 month lease, 10K miles/year on each of the 320i x-drive and the 328i x-drive? Thx.
320i X: .00130 MF and 62% residual. $500 option credit.
328i X: .00130 MF and 59% residual. $2000 option credit.
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Add 3% to the residual numbers in the post above for 10K/yr.
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kydfx - can I get the MF and residual for a 36month lease, 15k/yr on the:
BMW Active Hybrid 3
BMW 335i
Thanks!
Sorry forgot to add, are their any incenvtives/discounts?
The 335i Active Hybrid has $4,000 in Eco Credits and a $1,250 Option Allowance
This is my first time dealing with reps through email and first time negotiating a lease deal. Here is the first offer I was given as I am passively looking to get quotes. The MSRP of the one I am looking at is $60,475.
$0 down
36month/15k: $919.94
36month/12k: $888.39
Cap cost: $54,725
Tax: $3908.72
Dealer Fee: $599
Acq fee: $925.00
Now I don't have the residual and MF numbers yet so I will begin to negotiate to get the car at around invoice. Any tips on this?
Thanks!
Sorry residual/MF for a 36month 15k and 36month 12k on the:
Thanks!
Thanks for the info kyfdx - One follow up: What is the options credit? Does that mean I get $500/$2000 off the price of 'options?' Let me know and thanks. Dan
trying to negotiate a lease for GT 328xi MSRP 51425 MSRP looking to get it at 47200 after 1000$ bmwrebate with base MF of 0.0013 24 months 71% residual - for monthly of 560$ with 7MSD - what do you think
TRYING TO LEASE A new 2014 335i SEDAN
I am now leasing a 328i and final pmt is due in July. BMW sent me a note that they have an early return deal that waives last 3 pmts if you are re-leasing another Bimmer...BUT dealer says that is a SEPARATE transaction from the deal I got, although, he was aware that I am doing an early return! What gives here? Who is responsible for these 3 pmts, BMW corp or the dealer? The deal for the 335i was excellent, but I have not signed it, now this new hurdle about lease return!
Hybrid: .00130 MF and 56% residual.. $1250 option credit and $4000 ECO credit.
335i: .00130 MF and 61% residual.. $1250 option credit.
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It's just manufacturer cash... It's either used to lower the selling price, or as a CAP cost reduction (depending on restrictions).
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I'm guessing there is a lot of cushion in those prices.. Would you pay $900/mo. to lease a 3-series?
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At MF of .00081 (after MSDs) and residual of 71% for 24mo, 10K/yr, I get a payment of $513/mo.+tax., using your provided MSRP and CAP cost.. Of course, you have to account for the acquisition fee and TTL.
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513 + tax9% = 560$, just received phone call from local dealer - price accepted, will be getting my 328GT in May , I hope its going to be a much better ride than my 535xi (so much vibration and so boring )
Any details on wagon leases for March. Looks like residuals are 65% for 36/10k.
.00130 MF and 65% residual for the 328iX wagon. $1000 option credit.
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Do any of you have tips on how to ask or negotiate prices close to the invoice not the MSRP?
Something is wrong with this pricing. I have a 2012 3.5 X5 that MSRP's for $75k+ and I only pay $900 a month for 12k miles.
You must have some huge markup on the Money Factor. Shop til you get .00130.
If you can't get an answer re: MF, just ask if they mark it up. Say bye bye and move on.
My rep first gave me the MF of .0017 and then changed it to .0013 after I asked for a better quote. Here is the last offer he emailed:
$53,863.36 cap cost and this included $600 dealer service fee, $925 acq. fee, and the tax.
$744.49 with ZERO CASH for 36 months and 12k miles
The MSRP is $60,475.00 and the actual invoice price is $55.615 without the eco/option credit.
I think it's time to move on...
Looking to lease a 2014 320i or 328i, moonroof is a must, leather is nice but can live with sensatec if will cut on the monthly payment.
36months/15K miles in South Florida.
1) 320i or 328i?
2) premium package or just moonroof? (is this even possible?)
3) Price, monthly payment, MF, Residual, acceptable dealer fees.
Thank you for your time and your help.
1) You should drive them. A big difference in horsepower. The lease programs are different, but comparable. The 320i will probably be cheaper, because it's a less expensive vehicle.
2) You can order a moonroof on either model. $1050. Or, the premium package for $3200. The premium package has a lot of good stuff.. auto-dimming mirrors, comfort access, universal garage door opener, lumbar supports, etc.. plus the moonroom..
3) 320i: .00130 MF and 62% residual. $500 option credit cash
328i: .00130 MF and 59% residual. $2000 option credit cash.
You'll have to get the MSRP and selling price for us to calculate a payment.
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How should negotiate sales price? Ask for invoice? Settle for invoice or push for under invoice (is this realistic)?
Also they tend to put fees everywhere, reading the posts, looks like around 750$ in fees is ok? (Plus tag?)
Thank you.
Before you negotiate in Florida, find out the dealers' doc fee.. $599-$899 is not unusual for Florida (must be something in the water). If the fee is $700, then I'm shooting for invoice, minus any available incentives.. $700 is plenty of profit on a car that has incentives. The only other fees should be the acquisition fee ($725) and government title/license fees. Florida taxes the monthly payment, so the only tax upfront will be on those fees (doc and acq., not government), or any CAP cost reduction that you make (which I wouldn't do).
Make sure you are getting the base money factor. Most BMW dealers will attempt to mark that rate up, for extra profit.
You have to introduce the possibility of going to a different BMW dealership to get the lowest price, so shop around.
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Good choice.... bad deal for sure. Dealer service fee is pure crap and the acq fee is jacked up by $200.
2014 328xi with moonroof and heated seats - 10k/yr. MSRP - 42320, selling price 3640. Residual - 61% and MF: 0.0013. Taxes & Fee - 2600$. Requires 7 months payments as deposits which will be returned at the end of lease term. Is this a good deal?
btw why does bwm charge 725$ for bank fee, banks are happy to make money off interest.
typo - selling price was 36400
I am looking to lease in next few days. Appreciate your quick feedback.
I went to a different dealer and they had no problem w early return of my car and said they will arrange w BMW to pay last 3 mos of current lease! Not sure that that one paarticular dealer labeled it as a "separate" transaction, maybe he meant it is not a factor in the "new deal" and I agree with that. I hope this clarifies my statement to all of you here.
Almost every bank charges an acquisition fee.. not just BMW.
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If you are making 7 MSDs, then your money factor should be reduced from the .00130 to .00081. What payment were you quoted?
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You'll have to ask him what he means by "SEPARATE". I don't think it can be separate. They won't waive the three payments, unless you are leasing another BMW. It's possible the dealer incurs some costs from that program. Is he telling you that the deal he quoted you is no good, if you want to do the pull-ahead program?
You'll have to get him to clarify.
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One more question: I thought the tax will be calculated on depreciated amount (selling price-residual amount) but the dealer is charging tax on 36 monthly payments + bank and doc fees. Is that even legal?
In most states, that is the normal way to compute lease taxes. What state?
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Hi, I'm being quoted a lease of 557/mo, msrp 44975, 0down, 36/mo, 10000 miles For a 2014 328d in mineral grey/black int, with moonroof, navi with touchpad, driver assist and heated seats.
Residual quoted 28334.25.
Good deal or?
Best Regards, thanks in advance,
Leftcoaster
NJ. I double checked using below link. It's legal to charge taxes on finance charges, doc and acquisition fees in NJ, which sucks.
http://www.njconsumeraffairs.gov/ocp/autogide.pdf
Most states just tax the monthly lease payment, or, as in NJ, the sum of the lease payments upfront. It's pretty typical. What sucks? States that charge tax on the full selling price of the vehicle, even on a lease. So, it can always be worse.
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Is your -zero down- the same as -zero due at signing? If you are paying 1st payment and title/registration fees at signing, with the acquisition fee rolled into the CAP cost, I come up with a reasonable payment of $449/mo., plus tax.
That assumes a selling price of 6% off MSRP minus the $1750 of incentives on that model.
.00130 MF and 63% residual.
To know where the money is going, you'll have to ask the dealer the money factor being used and the selling price and CAP cost. Also, the amount and breakdown of any money due at signing.
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