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I am looking to lease a 330i with prem pkg, sport pkg, rear sunshade, and auto trans. The dealer gave me the following quote. Is this reasonable?
Price: 41,600 (invoice 39,800, msrp 43,420)
Term: 36 months
Mileage: 12,000 per year
MF: .0021
Residual: 64%
Down pay: 0
Security: 0 (since I am a bmw leasee now)
Total: $597.36 per month (including Ohio tax)
I am in the market for a 06M3, 6 sp, ZCP, ZPP,HK,Xe,heated seats,alpine white. It comes up to $54,175 invoice /$59,170 MSRP from Edmunds. What will the crowd think if I make an offer 1500 over invoice + TTL? Whats the mood out there, not that production has stopped? Any suggestions of a reasonable offer? Im in H-town...yikes :confuse:
I am in the market for a new 2006 330i in Orange County / LA (will go to other areas of So California too if I can get a better deal). Any ideas on what would be a good price?
I got a quote for a 330i with sport & premium packages for 40,400. Is this a good deal?
Also, any ideas on if the 2006 prices will considerably fall when the 2007s come out?
-Sa
Pricing looks right. Don't know about the MF as I'm looking to purchase, not lease.
I've posted this in the lease forums, but no one has responded so I'm gonna trying posting here.
I've done some more shopping and talked to a few more salesmen to learn some more about leases. They're really reluctant to give out any numbers. I live in the L.A. area and I guess they don't want me to just take whatever they're offering and comparison shop.
Anyways, I the salesman I talked to today told me that it doesn't make a difference whether I wait until September or October and try to negotiate a better selling price when I'm leasing. According to him, the money factors and residual values will adjust so that whatever savings I make from the selling cost will reduced to zero. Is this true? Basically he was saying that lease money factors will increase in September and October and residual values for 2006 vehicles will go down.
If it's true, that's too bad. I thought I could get the best possible deal by doing some research now before finally leasing the car in the Fall.
Once the new model comes out, the re-sale of the old model generally drops enough to make leasing problematic.. At that point, car companies generally shift the incentives to dealer cash or consumer rebates, rather than high residuals or low money factors..
So, if you are buying, you can wait and get a deal... but, if you are leasing, you just have to watch and grab your lease when everything looks to be best... waiting for lower prices is often offset by lower residuals..
Of course, all this speculation is general in nature, and there are always exceptions...
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Highly recommend Reeves - this is my second car from the dealership and they do a nice job in the service department, they only sell high-end cars so they do not seem to have a lot of interest in being pushy or in playing a lot of games. I also visited Ferman - they were helpful and professional but neglected to contact me after my visit with a price or with a time to visit and order a car (I left a business card, my cell number and a list of the options I wanted in my car). This was a bit puzzling. I currently drive a Mercedes Benz and I stopped by after leaving the office. They evidently sized me up as someone just looking for a joy ride in the car. I would have thought they would have understood that I actually was in the market for a car. However, I tend to be a bit picky and eliminated the dealership (despite it being a little closer to my neighborhood) because I worry that they may not be very responsive in other areas (such as service).
Based upon my experience, I would say that the inventory of 2006 models is dwindling and if you have any unusual needs (I wanted a manual) then you might not get exactly what you want unless you order a 2007. Also, they are adding another model to the lineup (a 3.0 turbo model) that might be interesting if you want a really fast car. The 2006 with 255hp was more than enough for me. I don't know when that one will be on sale - probably when the last of the 2006 lineup is gone I suspect. Not an issue for me - I don't really want a turbo and the 330i is nearly perfect in terms of power and handling. Overall, the entire transaction took about an hour (including the test drive). Not sure if there will be any other issues since I won't get the car until September but if there are I will report them on this forum. Never ordered a car before so I don't know what to expect.
I actually started with Costco.com, got the price then shopped it around. I found out my original dealer (Brect)was marking up the money factor and bank fee, when I told them other dealers had better numbers, they kept the reduced price ($950 over invoice on the convertible, I think just $450 over invoice on the i) and reduced the money factor.
I posted the specifics about my purchase in an earlier post if you are interested.
1. Is the extended warranty/maintenance ($4,000)worth it? (I cannot do any maintenance myself)
2. I will have to finance it for 3 more years (8%) What is expected additional costs should I keep it.
3. At $31,000 for a 3 year old car, should I just buy a new '06 A4 w/ same options for $5,000 more? I went to Audi dealer today and will get it $600 below INVOICE if I decide by end of week due to some kind of dealer incentive.
I cant decide what to do. I LOVE my car but $31,000 seems like a lot for a 3 yr old car. I know Im not comparing apples to apples, obviously bmw is better (drives better, smoother, looks better etc), but its older and I feel like I should take advantage of the A4 deal. At the same time I dont really know how reliable A4 is. Basically, I want the least amount of problems (reliablity very impt.)HELP ME!
One other possibility.. There is a very good chance that the price your dealer would pay for your car, if you were turning it in, is much less than your buyout of $27K.. Ask your dealer if they can buy your car, CPO it, add the extended maintenance extension, and sell it back to you for less than the $31K.. They might be able to knock off another $1K-$2K off of that $31K..
But, IMO, even that would still be a lot of money for an '03 330Xi.. I'd rather lease a new BMW or Audi...
regards,
kyfdx
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Sorry to response to a quick answer with another quick question, but a colleague told me that someone in my position would be better suited to finance the car (even though it would require higher monthly payments) and keep it for a minimum of 3-years.
If, after 3-years, I decide to sell it (even though it's not fully paid off), I can sell the car and have the new buyer pay off the remainder or just simply continue making the monthly payments. Either way, it'll be cheaper than leasing it.
It sounded like a pretty crazy idea at first, but then it began to make a little sense. Everyone knows leasing a car is the most expensive method of purchasing a car. Actually, you're not even purchasing it, just renting it.
Anyways, sorry about asking so immediately before doing some more research on my own, but it's just been on my mind.
thats the one problem with this forum.... if people would read back 50 posts or so, the sames questions you are asking have been asked and answered in the last 2-4 weeks.
Overall, very good info though and helped me quite a bit !!
BMW does offer pretty good lease deals, generally, so that makes the decision a little harder..
The only quibble I have with your plan.. When you sell your car, the loan must be paid off. As the car is collateral for the loan, you can't just keep paying on the loan after the car has been sold. Also, there is no guarantee that the car will sell for more than the amount that you owe on it. That is a problem that you don't encounter at the end of a lease.
Whether you buy or lease, you still end up paying for the use of the car...The longer you keep it, and the more mileage you drive, the more it costs.. the two are not as different as they seem.. Leases can be good deals, but they aren't for everyone.
regards,
kyfdx
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We are expecting our first child this Fall and need to get into a new vehicle. I have narrowed my search to a BMW 330i.
My question is to Lease or Buy? I have a friend who is a GM at a BMW dealer so I know I will get the best deal, invoice for buy and best MF/residual for a lease.
We are trading in a 2002 F-150 with 12K equity. Not sure if it makes more sense to lease and invest/bank the equity or buy with a big down payment.
Also am starting to see used 330i's and CPO models coming on the market. Just need some advice for what makes the most sense for the BMW. Thank you for your help!
Thanks
http://bimmerfest.com/forums/showthread.php?t=156993
I have 2002 325iT Sportswagon with 58,995 miles. I have just recently completed Inspection II at local BMW dealership. However, they did tell me that my belts are cracking and needs to be replaced ($250) and the boots/bushings need to be replaced as well ($450). I have already set up an appointment to fix the busings and replace the belts, then got suspicious as my boss's 330Ci had to FIX THE EXACT SAME ISSUES when he had done his 60K Inspection done a month ago. Do the belts and bushings need to be replace at 60K? Or does this seem like a gimmick? I am strongly considering taking the car to an independent BMW mechanic for an estimate. However, I am afraid that going to independent mechanic will devoid my CPO extended warranty. Is my local BMW center pulling my leg? I know this is a fine luxury car, but maintenance cost is way above my head.
Any advice would be appreciated.
Thanks for any response
msavius
Extra costs:
Acquisition fee ($625)
Savings:
Lower finance charges.. The current money factor equates to an APR of about 4.8%, which would be hard to get on a car loan..
Other issues:
Depending on your state, the tax treatment of the lease could mean some extra money, as you'll have to pay sales tax again, when you purchase the car off-lease.
Interest rates could be higher when it is time to finance the car, once the lease has expired..
So, unless you live in Texas or Illinois (sales tax issues), then it shouldn't be much more to go that route.. But, it is hard to buy a car off lease, when you can go lease another new one for the same payment...
regards,
kyfdx
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Does anyone know if certain - unpopular - colors are discounted more when negotiating the selling price?
msavius
Can I get the details of how close to a "best deal" this offer is?
325i, Automatic,Sport Pkg,Power seats, Sat radio prep, 12k miles per year.
Dealer says $35540 list, $33035 invoice, Sell for $33535
Residual .63, MF=.00285, $825 Acq fee
No money down.
$871.47 due at signing incl first month payment
Payment with tax = $535.01 (Northern California 8.25%)
Thanks!
The car is a black metallic 330i with the terra leather and includes:
premium
sport
heated seats
i-drive
steptronic
metallic paint
bmw assist
MSRP is $45,420
I was at the dealership (Weatherford BMW in Berkleley, CA) for a long time this afternoon and the best terms I could get were:
3 years / 15K per yr
Cap Cost: 43,800 (About $500 more than Edmunds TMV)
Money Factor: .00235
Residual: 62%
Driveoff was ~$1900 (includes security deposit)
The resulting payment (with 8.25% tax, I think) is $653/mo.
The salesperson said that they NEVER sell cars at the BMW buy rate, which is .00195.
I really like this car, but I want to get a decent price and this deal seems less than great.
This is my first lease (as well as my first real car) and I'd appreciate some advice.
Anyone know where to go in the SF Bay Area where I can get a decent deal?
Thanks!
He said that for the coupe's nav system, BMW is going to include real-time traffic updates.
The updated system is causing a delay in all coupes equipped with iDrive. He said coupes sans iDrive would be in dealerships in late September/early October, but iDrive equipped coupes would not be available until late November/early December!
I called another dealership, whose salesperson couldn't confirm this, but mentioned that he had heard something about a delay on the real-time traffic feature on the 6 Series cars. Yet another dealer confirmed that all the coupes he had available in his first shipment would be without iDrive.
It's unfortunate bceause I love the new coupe but I really really want factory navigation.
The base money factor without a security deposit is .00265, so that is marked up... and the base acquisition fee is $625, so that is bumped up the maximum..
Using the base MF and acquisition fee, the payment would drop by about $19/mo.
Making a security deposit of $550 (refundable at end of lease), would drop the payment another $9/mo.
regards,
kyfdx
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Just getting the base MF would drop your payments around $31/mo..
If you can get another $500 off the selling price, the payment would drop another $16/mo..
I think that would be a fair deal.. Somewhere between $595-$610 per month...
regards,
kyfdx
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This is in OH.
kyfdx knows more about lease factors and residuals than I could ever hope to.
For more on Multiple Security Deposits, do a search.
Better have it looked over... If accurate, sounds like a salvage vehicle...
$24,999 maybe?
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05/12/2004 US Customs Vehicle exported from
Germany
and imported to
Newark, NJ
05/27/2004 New York
Motor Vehicle Dept.
Latham, NY Registration issued or renewed
First owner reported
Registered as
personal vehicle
Passed safety inspection
12/01/2004 8,068 Service Facility Vehicle serviced
05/18/2006 Dealer Inventory Vehicle offered for sale
So now should I go for it? The car is in a different state, and I would go pick it up....seems like a solid deal, no?
If you have to go a long way to see it, you might first take that VIN number to your friendly local BMW dealer service department, and ask them to run a vehicle history report.. That would have every service performed on the vehicle since new..
That price is a big red flag... A good $7K-$10K lower than what the typical BMW dealer would ask for it..
regards,
kyfdx
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I am in a market for a 2006 325i with xenon, premium pck. and auto. MSRP is about 36k. What is a reasonable monthly lease for this?
I saw on bmw website that they are having specials on 06's and msrp of 33k 3 series monthly is about $383.00 with only 10k a year in mileage.
Thanks.