BMW 428I lease. Is this a good deal?

lissab

I am looking at 428I, lease option is 3 years, 1500 down, payments 588 a month. It's the sports package 48,205.00 is the sticker, I am a single girl, so I. Know nothing about cars! My lease is up on my 3 series which I'm sure I paid too much for. My ex bf, Mr. Know it all about cars directed me to this site, but that's the extent of the help! think he's too busy on porn sites. Please Help, any input would be greatly appreciated!! thank you!

kyfdx

Is $1500 the total amount due at signing? Or is it just the downpayment part of that amount? Does your $588/mo. payment include tax? If it does, what state, and what is the tax rate? Any idea what selling price they are using to come up with that quote? What is the annual mileage allowance on the lease?

lissab

Forgot my log in.. It is $45, 725, total price premium package sport line, fees and insurance $33.50, up front taxes 43.06, cap reduction $533.68 so, it's $1500 down and 589.00, I think that's high thanks for your help!

kyfdx

I don't know your tax rate.. but, I'm assuming the $45,725 includes the acq.fee.. and the residual is 60% for 36mo, 15K/yr. MF of .00130. With those parameters, the price would be around $549/mo.+tax... which if you were in California would put you right at your payment.

There is a $1000 incentive on this model from BMW.. I'd say if there was anything to work on, it would be lowering the selling price by about that amount.. That would knock about $30/mo. off your lease payment.

konacoug

You need to provide a little more information, what insurance is in the deal?? What is the money factor, the base rate is .00130, but they could jack it up to .00170, which can cost you about $40 more per month in payments. Is there a doc fee? Which state are you in? I only ask as if you are in So Cal, it is a very competitive market. Overall the payments seems a little high.

lissab

Thanks for the response, I have been traveling for work and don't often see all emails. I'm in florida. I have extended lease for right now. New little issue. This will be my 3rd BMW lease, I was loyal to a dealer, as I liked my sales rep, however, he just moved back up north, so have been shopping other dealers, well a friend of mine, who knows what he's doing did. He found a great deal in Fort Lauderdale. I spoke to dealer, they said all good except that I had an outstanding payment for damages on my 2008 BMW, the prior lease to the 2011 I am just now turning in. I remember getting 1 bill, then never saw or heard anything again. Keep in mind, this car was way under mileage, so bill was body damage, etc. of 2500! This was 3 years ago so I can't imagine what is going on. So I spoke to someone at a number they gave me, and she said she could reduce it to 1900. Has anyone heard of such a thing. My questions are, how did I get another lease, well I could see they may have crossed, but when I called finance to extend this one, they said let me check, then "ok, your fine, and I've extended it twice! Also, when I log into BMW finance, there is nothing outstanding. Anyone know of this happening? I have to pay the $1900 before they give me the new deal, supposedly. Thanks for your help.

kyfdx

lissab said:

Thanks for the response, I have been traveling for work and don't often see all emails. I'm in florida. I have extended lease for right now. New little issue. This will be my 3rd BMW lease, I was loyal to a dealer, as I liked my sales rep, however, he just moved back up north, so have been shopping other dealers, well a friend of mine, who knows what he's doing did. He found a great deal in Fort Lauderdale. I spoke to dealer, they said all good except that I had an outstanding payment for damages on my 2008 BMW, the prior lease to the 2011 I am just now turning in. I remember getting 1 bill, then never saw or heard anything again. Keep in mind, this car was way under mileage, so bill was body damage, etc. of 2500! This was 3 years ago so I can't imagine what is going on. So I spoke to someone at a number they gave me, and she said she could reduce it to 1900. Has anyone heard of such a thing. My questions are, how did I get another lease, well I could see they may have crossed, but when I called finance to extend this one, they said let me check, then "ok, your fine, and I've extended it twice! Also, when I log into BMW finance, there is nothing outstanding. Anyone know of this happening? I have to pay the $1900 before they give me the new deal, supposedly. Thanks for your help.

Ask to speak to a supervisor, and ask how a 3-year old bill can languish, with no contact from them, when you've had an on-going business relationship (monthly lease bills, right?). Ask for documentation of the charges, and also ask why you weren't notified. Tell them you are unlikely to lease another car from them, if this is the type of business methods that you can expect in the future.. yada, yada, yada..