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Leasing a 2016 BMW 328i

te118118te118118 Posts: 1
edited August 2016 in BMW
Hi, I am new to lease vehicle. I did some research about the MF and residual % , and I read a lot of the previous post on this thread, but I am still confusing about how to bargain with the dealership. The following is my case and questions:

2016 BMW 328i
MSRP is $39,495
Special Price is $35,988 with colleage grad or BMWFS Loyalty Rebate (unfortunately, I didn't qualify both offer, so my selling price will be $36,988, I did the math and it is about 6.35% off from MSRP, is it a good deal? I saw some people mention it should be around 7% off from MSRP usually, so should I bargin with the dealership to 7% off from MSRP?)

My leasing goal is 10k/36mo, so the residual value should be 62% of MSRP, and the MF will be 0.00134, am I right? I also know that I could put 7 security deposit to buy down the MF to 0.00088, is it allowable in Bay Area dealership?

Base on the above factors, my monthly lease payment should be $401.35, am I right? Beside I am still wondering how much should I pay at the very beginning, base on my understanding, the first payment should be the following:

1st Month Payment: $401.35
7 Security Deposit: $4,900
Tax (8.75%): $3,236.45
License Fee (1% of MSRP): $394.95
Fee (acq fee & doc fee): $1,005
Total: $9,937.75

Does my calculation correct for the 1st payment? Also, what else should I pay attention before I sign the contract? Please advise.

Thank you very much!

Comments

  • kyfdxkyfdx Everywhere, USAPosts: 122,984
    te118118 said:

    Hi, I am new to lease vehicle. I did some research about the MF and residual % , and I read a lot of the previous post on this thread, but I am still confusing about how to bargain with the dealership. The following is my case and questions:

    2016 BMW 328i
    MSRP is $39,495
    Special Price is $35,988 with colleage grad or BMWFS Loyalty Rebate (unfortunately, I didn't qualify both offer, so my selling price will be $36,988, I did the math and it is about 6.35% off from MSRP, is it a good deal? I saw some people mention it should be around 7% off from MSRP usually, so should I bargin with the dealership to 7% off from MSRP?)

    My leasing goal is 10k/36mo, so the residual value should be 62% of MSRP, and the MF will be 0.00134, am I right? I also know that I could put 7 security deposit to buy down the MF to 0.00088, is it allowable in Bay Area dealership?

    Base on the above factors, my monthly lease payment should be $401.35, am I right? Beside I am still wondering how much should I pay at the very beginning, base on my understanding, the first payment should be the following:

    1st Month Payment: $401.35
    7 Security Deposit: $4,900
    Tax (8.75%): $3,236.45
    License Fee (1% of MSRP): $394.95
    Fee (acq fee & doc fee): $1,005
    Total: $9,937.75

    Does my calculation correct for the 1st payment? Also, what else should I pay attention before I sign the contract? Please advise.

    Thank you very much!

    The difference between 6.35% and 7% off at these prices is only $250.
    Your numbers seem to have been gleaned from quite awhile ago.
    The current numbers are .00137 MF and 66% residual for 36/10.
    MSDs would lower the MF to .00088
    In California, tax is applied to the payment, not the whole car, so drop the tax from your equation. (though the acq.fee and doc fee will be taxed, if paid upfront).
    Security deposits are the payment, rounded up to the next $50 increment. $450 ea. in this case

    So, with the correct numbers, and using MSDs, the first payment should be $359/mo.+tax, or $401/mo.

    Due at signing
    $401 payment
    $3150 7 MSDs
    $1005 acq.fee/docfee
    $88 tax on above
    $395 license fee
    $5039 due at signing.

    If this turns out to be the actual deal, ask for $50 more off the price of the car, to get that payment under $400. Then your MSDs will only be $400 each, for a total of $2800, instead of $3150.

    You have a pretty good handle on the calculations, just need to get the details straight.

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

    Edmunds Moderator

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