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BMW 428i Gran Coupe lease -- need help!

donuts1225donuts1225 Posts: 6
edited December 2014 in BMW
This is in Northern CA.
Lease 39 months, 10K miles
2015 Gran Coupe. Luxury line/Premium package/metallic paint
MSRP: 45,700
Selling price $43,012
Sales Tax: 3773
reg and other fees: 500
Residual: 62%/28,334
money factor: .00170

Then on the email the guy writes: Dealer fees are listed below plus 200 Profit on ACQ fee and money factor reserves of 40 basis points

He then quotes lease price as follows:

2000 down: 556 a month
4000 down 499 a month
6000 down 443 a month

This is all supposedly based on pricing it off the nationally advertised leasing deal which includes $1000 holiday discount.

I assume the money down includes an acquisition fee (725 + 200 which he does list as profit) and some cap cost reduction. Dealer has told me that he's pricing off the national deal and that he can't do anything more. I don't mind the 200 but I feel like something is not right here. He seems to be acknowledging that they have increased the money factor. I have seen talk above about multiple security deposits (that's new to me) and what seems to be a preference not to have cap cost reduction down payment (which is my preference) so I'd like to structure me deal that way.

Any help appreciated.




Comments

  • kyfdxkyfdx Everywhere, USAPosts: 127,848
    edited November 2014

    This is in Northern CA.
    Lease 39 months, 10K miles
    2015 Gran Coupe. Luxury line/Premium package/metallic paint
    MSRP: 45,700
    Selling price $43,012
    Sales Tax: 3773
    reg and other fees: 500
    Residual: 62%/28,334
    money factor: .00170

    Then on the email the guy writes: Dealer fees are listed below plus 200 Profit on ACQ fee and money factor reserves of 40 basis points

    He then quotes lease price as follows:

    2000 down: 556 a month
    4000 down 499 a month
    6000 down 443 a month

    This is all supposedly based on pricing it off the nationally advertised leasing deal which includes $1000 holiday discount.

    I assume the money down includes an acquisition fee (725 + 200 which he does list as profit) and some cap cost reduction. Dealer has told me that he's pricing off the national deal and that he can't do anything more. I don't mind the 200 but I feel like something is not right here. He seems to be acknowledging that they have increased the money factor. I have seen talk above about multiple security deposits (that's new to me) and what seems to be a preference not to have cap cost reduction down payment (which is my preference) so I'd like to structure me deal that way.

    Any help appreciated.



    If this is the best he can do, you should find another dealer. The money factor "reserve" is a mark-up for extra profit, as well. The base MF is .00130. There is also a $1000 Holiday Credit incentive from BMW on this model, making your effective discount from MSRP about $1700.

    Disregard the sales tax amount. It isn't relevant for a lease. CA only charges tax on upfront amounts, and then on the monthly payment.

    Also, he says he is pricing off the national deal, but the advertised prices don't include mark-ups on the MF and the acq.fee.

    I'd want my deal to look like this:

    MSRP: 45,700
    Selling price $42,000 (6% off, then $1000 credit)
    Acq.fee: $725
    CAP cost $42,725
    Residual: 62%/28,334
    money factor: .00130
    Payment = $461.37/mo.+tax
    (assuming 8.5% tax) About $500/mo. with tax.
    Due at signing: 1st payment, $500 title/registration/doc fees $1000 total.

    So... $1000 due at signing and $500/mo.

    Add 7 MSDs at $500/ea. ($3500), and the money factor drops to .00081 and the payment drops to $426.55/mo.+tax = $463/mo. with $4500 due at signing.

    If your tax rate is higher or lower than 8.5%, then adjust accordingly.

    This scenario only leaves about $500 profit for the dealer...That might not be enough to get the deal done, but it's certainly where I would start. Every $500 higher on the selling price raises the payment by about $14.38 post-tax At last count, there is a BMW dealer for every 20 residents in California.. shop around.. ;)

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Hi kyfdx!

    Can you let me know the Residual and MF on 428xi and 435xi Gran Coupe for December? 36/10K.
    Also if you know of any incentives, please share those as well. Thanks as always!

    AD
  • kyfdxkyfdx Everywhere, USAPosts: 127,848
    ahdanna said:

    Hi kyfdx!

    Can you let me know the Residual and MF on 428xi and 435xi Gran Coupe for December? 36/10K.
    Also if you know of any incentives, please share those as well. Thanks as always!

    AD


    BMWFS numbers from November are scheduled to run through the end of the year.

    .00130 MF and 61% residual for the 428xi GC. 62% for the 435xi GC.
    For 39 months, 10K/yr. $1000 Holiday Credit.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Thank you!
  • Hi all - I'm being quoted a great deal on a 428xi GC in NJ - basically invoice less another $3K in incentives (1000 dealer, 1000 bmw holiday, 1000 usaa) if i do the deal before 12/24. No haggle, MF and Residual are spot on. Thanks again for the help on getting this deal.

    My dilemma is that I'm in an Audi lease that's up in May with 4 payments left. The BMW dealer said they would cover 1/2 the remaining payments, which is good, but then what do I do with the Audi? Will they take it back early? I'm tempted to keep it, but I don't need the extra car (nor the insurance payment). I thought about transferring it to friend/family so they basically have a free and nice car for 5 months, but Audi won't let you transfer leases with that little time left.

    Appreciate any ideas.

    Thanks,
    ahdanna
  • MichaellMichaell ColoradoPosts: 121,170
    ahdanna said:

    Hi all - I'm being quoted a great deal on a 428xi GC in NJ - basically invoice less another $3K in incentives (1000 dealer, 1000 bmw holiday, 1000 usaa) if i do the deal before 12/24. No haggle, MF and Residual are spot on. Thanks again for the help on getting this deal.

    My dilemma is that I'm in an Audi lease that's up in May with 4 payments left. The BMW dealer said they would cover 1/2 the remaining payments, which is good, but then what do I do with the Audi? Will they take it back early? I'm tempted to keep it, but I don't need the extra car (nor the insurance payment). I thought about transferring it to friend/family so they basically have a free and nice car for 5 months, but Audi won't let you transfer leases with that little time left.

    Appreciate any ideas.

    Thanks,
    ahdanna

    Your Audi has a specific trade value, and a payoff amount. Call Audi Finance to get the current payoff, and head over to the "Real World Trade In Values" discussion to get a good estimate on what its worth.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Sorry i should have mentioned i did that but was too far apart.
  • MichaellMichaell ColoradoPosts: 121,170
    ahdanna said:

    Sorry i should have mentioned i did that but was too far apart.

    Your only choices are to make the remaining payments, roll the negative equity into your new lease, or wait until your lease is over before starting a new one.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Thanks everyone. We'll probably put the insurance way down on the other car and then just drive the Audi for a few more months. Hate to waste it!
  • dadofdadof Posts: 11
    In New Jersey

    Lease 39 months, 10K miles
    2015 428xi Gran Coupe
    Packages: Premium, Technology, Driver assistance
    MSRP: $50,050
    Selling price $47,753
    Sales Tax: 7%
    Money factor: 0.00081 (with 7 security deposits or $4,200). 0.00131 without MSD
    Monthly payment: $589

    Does this look like a good deal? I haven't yet negotiated on the selling price. Also, do the incentives for January 2015 look any better than those in the past couple of months?

    Lastly, when given the choice, should I roll in the fees and taxes into the monthly payment OR should I pay it all upfront?

    Thanks.
  • MichaellMichaell ColoradoPosts: 121,170
    dadof said:

    In New Jersey

    Lease 39 months, 10K miles
    2015 428xi Gran Coupe
    Packages: Premium, Technology, Driver assistance
    MSRP: $50,050
    Selling price $47,753
    Sales Tax: 7%
    Money factor: 0.00081 (with 7 security deposits or $4,200). 0.00131 without MSD
    Monthly payment: $589

    Does this look like a good deal? I haven't yet negotiated on the selling price. Also, do the incentives for January 2015 look any better than those in the past couple of months?

    Lastly, when given the choice, should I roll in the fees and taxes into the monthly payment OR should I pay it all upfront?

    Thanks.

    I suspect the payment you are being quoted is rolling in all fees and taxes.

    With your MSRP and selling price, along with the base (pre MSD) MF of .00131 and 39/10 residual of 62%, I get a pre-tax payment of only $531.98, or $569.21 with 7% tax.

    Regarding fees and taxes, it doesn't change the total cash outlay for the lease, just the calculus of how the monies are paid.

    I don't have any detailed information on lease cash for January, so cannot comment on whether they are better than December or not.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • kyfdxkyfdx Everywhere, USAPosts: 127,848
    Definitely no lease cash for January. Expect all lease payments to be higher than December.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • dadofdadof Posts: 11
    Thanks. I'll hold off until the deals get better.
  • Hello,

    I am in FL and would like to know if this is a good lease deal:

    2016 428i GC
    Packages: driver assistance and sport line
    MRSP: 44,495.00
    Selling Price: 43,295
    Terms: 10k miles/year
    Cap cost reduction: $5,000 includes dealer fees, tax, tag, etc.
    Security deposit: $0
    Monthly lease payment: $499 including tax
    Lease end residual: $25,807
    MF: .00130

    Does this sound right?

    Thanks.
  • MichaellMichaell ColoradoPosts: 121,170
    leetfeat said:

    Hello,

    I am in FL and would like to know if this is a good lease deal:

    2016 428i GC
    Packages: driver assistance and sport line
    MRSP: 44,495.00
    Selling Price: 43,295
    Terms: 10k miles/year
    Cap cost reduction: $5,000 includes dealer fees, tax, tag, etc.
    Security deposit: $0
    Monthly lease payment: $499 including tax
    Lease end residual: $25,807
    MF: .00130

    Does this sound right?

    Thanks.

    Not a good deal ... you should be able to get more than $1200 off the sticker price.

    And, we don't recommend making any sort of down payment on a lease other than tax, tags, fees - if the car is stolen or totaled, you lose that money.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Michaell said:

    leetfeat said:

    Hello,

    I am in FL and would like to know if this is a good lease deal:

    2016 428i GC
    Packages: driver assistance and sport line
    MRSP: 44,495.00
    Selling Price: 43,295
    Terms: 10k miles/year
    Cap cost reduction: $5,000 includes dealer fees, tax, tag, etc.
    Security deposit: $0
    Monthly lease payment: $499 including tax
    Lease end residual: $25,807
    MF: .00130

    Does this sound right?

    Thanks.

    Not a good deal ... you should be able to get more than $1200 off the sticker price.

    And, we don't recommend making any sort of down payment on a lease other than tax, tags, fees - if the car is stolen or totaled, you lose that money.

    I am trying to get my payment in the $350-$400 range. Is this something you that you think is achievable without putting money down?

    What kind of numbers would I be looking at for something in this price range?

    Based on this offer, what are some things I can negotiate on to get my close to this price point?

    I have been wondering if a 2015 model would get me closer to this price range, any ideas?

    Thanks.
  • MichaellMichaell ColoradoPosts: 121,170
    leetfeat said:

    Michaell said:

    leetfeat said:

    Hello,

    I am in FL and would like to know if this is a good lease deal:

    2016 428i GC
    Packages: driver assistance and sport line
    MRSP: 44,495.00
    Selling Price: 43,295
    Terms: 10k miles/year
    Cap cost reduction: $5,000 includes dealer fees, tax, tag, etc.
    Security deposit: $0
    Monthly lease payment: $499 including tax
    Lease end residual: $25,807
    MF: .00130

    Does this sound right?

    Thanks.

    Not a good deal ... you should be able to get more than $1200 off the sticker price.

    And, we don't recommend making any sort of down payment on a lease other than tax, tags, fees - if the car is stolen or totaled, you lose that money.

    I am trying to get my payment in the $350-$400 range. Is this something you that you think is achievable without putting money down?

    What kind of numbers would I be looking at for something in this price range?

    Based on this offer, what are some things I can negotiate on to get my close to this price point?

    I have been wondering if a 2015 model would get me closer to this price range, any ideas?

    Thanks.
    Instead of money down, you can use MSD to buy down the MF - that will reduce your payment and you'll get that money back at the end of the lease.

    Under $400/mo? Seems like a stretch on a car that stickers for $44K.

    Yes, a leftover 2015 might get you a bigger discount from sticker. Every $1000 off reduces your pre-tax payment $28/mo for a 36 month lease.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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