BMW 3-Series Lease Questions

CarMan@Edmunds

Geetings beamerlover. That's a pretty sweet car for someone who's only 22. I'm jealous . Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

The money factor that you were quoted for this car is right in line with BMW Financial Services' current buy rate for it. This is a good sign because it means that the dealer that you are working with is being straightforward with you and not trying to mark your car's money factor up to add additional hidden back-end profit to your deal.

The other main profit center for dealers on leases is vehicle's selling prices. In your post you mentioned this car's MSRP and dealer invoice price, but never its actual selling price. This is an important number for you as a consumer to know. It shows you how much of a discount you are being given and it enables you, in conjunction with this car's lease program, to calculate what its lease payment should be. Make sure to find it out before finalizing your deal.

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cbp1

What is the current money factor and residual for a 2006 330i? My car is supposed to be in this weekend or early next week -- just want to make sure my salesman is being up front with me. Thanks for the info.

CarMan@Edmunds

Hi newcar45. I'm not surprised that the salespeople who you have spoken with are reluctant to provide you with any detailed information about leasing. From their perspective, the less you know the more likely it is that they are going to make money off of you. Plus as you mentioned they don't want you to take their offer and shop it all over town. It is difficult to say what manufacturers will do with their future lease programs. Assuming that BMW does not introduce some sort of year-end dealer cash on the 3-Series then yes there is a chance that any additional savings that you are able to negotiate by waiting will be negated by the natural drop in your vehicle's residual values. It is difficult to say whether BMW will feel the need to enhance this car's money factors or introduce dealer cash on it to help dealers unload their remaining inventory. If It does, then the deals may actually get better. Only time will tell what will happen for certain.

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CarMan@Edmunds

Thanks travlngwilbury. I like the states that give consumers a tax credit for vehicles that they trade in. However, even with this tax credit, I personally wouldn't use the proceeds from a vehicle that I traded in as a capitalized cost reduction for a vehicle that I intended to lease. There's nothing wrong with trading in your Mini, just see if you can get the dealer to cut you a check for any equity that you have in it or use the proceeds to make multiple security deposits instead of using it as a down payment. I am not sure if using the proceeds as anything other than a down payment will still result in the same tax savings, I suspect that there is a good chance that it won't. I personally would be willing to lose out on the 6% or whatever sales tax rate your state charges savings to eliminate the risk that I lose my entire down payment in the event that my vehicle was totaled in an accident or stolen and never recovered.

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CarMan@Edmunds

Greetings Eric. It would be much easier for me to give you my opinion on these deals if you would provide me with these cars' MSRPs and selling prices. These are very important numbers for you as a consumer to know anyhow. The selling prices of leased vehicles are negotiable, just as if you were paying cash or financing. Knowing the selling price enables you to see how much of a discount you are being given on the car that you want. Furthermore, vehicles' prices are necessary to calculate their monthly payments. find out what these cars' MSRPs and selling prices are and I'll tell you what I think.

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CarMan@Edmunds

Hi robray222000. I am not personally all that familiar with what the market for this car is like in your area right now. However, I would think that in an area that has a decent level of competition $750 to $1,000 over invoice would be a good deal for this car. There is a great discussion in this forum that contains tons of posts from consumers who are in the market for or have recently purchased similar cars to the one that you are interested in. Click on the following link to check it out: "BMW 3-Series: Prices Paid & Buying Experience". Once you have an idea of your car's approximate selling price, let me know and I will gladly estimate what its current lease payment should be for you.

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CarMan@Edmunds

Hi Sunny. One of the beautiful things about closed-end leases is that it doesn't matter what your car is worth in the real world at the end of your lease. At lease-end, you are free to just walk away from your car without paying a dime, provided that you are not over your mileage allowance and it does not have any excess wear and tear. Who pays for your car's insurance is completely between you and your employer. Car insurance is completely separate from the cost of leasing a vehicle. I personally wouldn't waste my money on tire and rod insurance, but the salesperson was partially right when they told you that new tires for BMWs are usually fairly expensive.

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CarMan@Edmunds

Hello cbp1. This car's lease program varies depending upon how long you lease it for and how many miles per year you are allowed to drive it. For now, I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. BMW Financial Services' current 36 month buy rate lease money factor and residual value for a lease of a 2006 330i with 15,000 miles per year are currently .00195 and 62%, respectively.

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cbp1

Hi Car Man: Sorry I didn't provide you with complete details. I am looking at a 36 month lease for 12,000 miles per year. Thanks so much for your help. I have really learned a lot from this forum.

saddletramp

Great site with the best info.

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!

stanford06

My local dealer has a 330i that's the exact specs I want however, I think the pricing isn't so great. I'd appreciate if you guys could tell me what you think.

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%

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!

puppykicker

Just soliciting opinions on the deal I arranged last night (and consummate tomorrow morning)

MSRP 44,945
(330i automatic, premium package, sport package, NAV, heated seats, satellite prep)
Selling price 42,220 (No cap cost reduction)

Acquisition fee $775 (I know, a little markup)
3 year/12,000 miles per year
64% residual

Money factor = 2.15 SO, I think base money rate = 0.00175
(Single security deposit of $650)

Maryland tax of 5% (on total purchase price) rolled into monthly payments of $615.26

Driveoff payment of $1498 ($650 security deposit + $615 first month + $229 "first year fees")

Could anyone explain what the dealer's justification for the $229 "first year fees" might be ("processing fee" was supposed to be $95)?

Also, one line on the lease worksheet states
EST FEES/TM = $687
Is this just some junk fee that they're trying to hide?

It's not that I'm looking to save every last cent, but I dislike being lied to, or feeling as if I don't understand what I am paying for.

I was reassured several times (by the salesman, of course) that there would be no additional fees (beyond $95 documentation), no markup on BMW's rates (I know not to be the case, with respect to the acquisition fee).

Any thoughts? Thank you all very much.

ckm1515

BS - the rigth dealership will lease a car to you at the buy rate and will pad their pockets by increasing the acquistion fee, etc. I know - my dealer leased to me an 06 330xi at the going rate at the time of .00225 and a $625 acquistion fee. Shop around - the more knowledge you have, the more you are in control

puppykicker

It turns out that they had marked up the money rate from 0.00175 to 0.00215. I had questioned this at the time, but got a BS response that I was too tired to comprehend. I knew the aquisition fee was being marked up.

Long story short, I told them to forget about it...sales manager called me, apologized, offered me the 0.00175 MF. Payemnt decreases by $30 per month to $585.

I questioned the acquisition fee (again). He said something like "that's the only profit the finance department is going to see on the deal." I can live with the $150 markup. If chuck it and move on to the next dealer, the same stuff is going to happen. I've expended too much effort and energy already on this process.

tcn2k

Guys,
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.

shehzy

so, the first dealer tried to screw me over on the neg price and then went back on his word on the money factor and acq fee(tried to charge me 0.00215 MF and $825 acq fee)...luckily, I was able to get something better at another dealer.

MF 0.00175 Residual 63% for a 330xi 12K/yr for 36 mths. MSRP 44,545 Invoice 41,080. Negotiated price = 42,610 --> Invoice + dealer costs ($110 floor mats, $120 buffing, $300 dealership operational chargeback cost for each car) + $1000 dealer profit. Acquisition fee $625. One fee that suprise me was Govt fees (incl registration) $530. Is it really that high? I thought it should be more around $300? Tax was seperate (in the monthly rate).

Does this deal sound reasonable?

rrsa

Car man,

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

argen4444

Car Man:

I see you have posted that the current money factor on a BMW 330i lease for 36 months, 15K miles is 0.00195. I am being offered by a dealer a lease rate of 0.0023. They insist this is the current BMW rate, and are not buying my argument of "what I have seen online". Is there any way to confirm the 0.00195 money factor? Is this published by BMW financial services?

Thanks!

bjtec

Car Man,

I am going to lease 2006 325i with just automatic trans and power seat. MSRP is about 32,500k. What is a reasonable monthly lease payment with on a 36 month lease with no money down and 15k miles per year?

They told me they would give 00280 for the lease factor is that good?

Bjtec

fanofthedeal

Hello Carman I was wondering what the current money factor is for august on the 330i and 330xi

I just received a quote for
BMW 330i 36mo/12k
MSRP 42170
Selling 39500 ( I will do better then this)
Money Factor (Dealer claims he is charging me 4%) =.00167
Residual 64%

He quoted me
531.22 with 9% PA Tax

When I use those numbers I get 516.22

He claims that my calculator must be off because he is using it through BMW. Obviously my guess is he isn't using 4% but just claiming to be.

24601

Does anyone know what the current acq fee, buy rate money factor and residual on the 325i is for 36 months. 12k/year?

737capt

Just got a quote on a BMW 330i which included an $825 acquisition fee and a $499 dealer fees. Are those rates about right and what is a dealer fee? Are they negotiable?

cnote2

I am looking to lease a 325i this month and i need to know the current MF and Residual. Thanks in advance.

cicbuyer2003

I am in the middle of negotiating a lease on a 330Cic MSRP 51,970, Invoice 47,540, TMV 50,710.

I am paying 50,000. quoted "lowest" money factor of .00225.

They have marked up the acquisition fee to 825 and added an "accessory" fee of 125 and a doc fee of 297.

Considering the nickel and diming on fees, I am not exactly convinced the quoted money factor is what it should be either. Any help? I would like to wrap this up today or tomorrow.

kyfdx

It is marked up the maximum... base rate is .00185

cicbuyer2003

Thanks for the prompt reply!

Why am I not surprised?

msavius

look here for current BMW lease MF and residuals
http://forums.roadfly.com/forums/financing/7911497-1.html

cicbuyer2003

Thanks msavius, that is really helpful. Perhaps we could have such lists posted more regularly by Edmunds (or the moderators?)

Well, my dealer split the baby. Still not sure how great this is, but looking at your chart, I am getting a phenom residual. Good for payments, but will I get hammered for a paint chip at lease end?

My deal as of tonight:

MSRP: 51970
Invoice: 50000
MF .00156 (7 additional SDs)
residual 65%
No money down
30 months
15000 miles/yr
7168.04 at delivery
768.04/month

Good? Bad? Just ugly?

I am still not sold. I am Ok with the price, but does the dealer really need to make $750-$1000 on the finance agreement in addition to what has to be paid to BMWFS and the profit on the sale of the car? Had he given me the base MF, it would have lowered my payments to just under 750, which not only saves me a around 500 in costs, but also would lower the total security deposit needed to do the deal by 400. Just too damn greedy.

A MBZ 350CLK for $1000 below invoice still looks awfully good (even if the payments are >200/month over the bimmer), and I have an outstanding interest rate if I decide to purchase (4.99-5.1).

Thoughts?

Regardless, many thanks to kyfdx for the prompt response, and to a little birdie at BMWFSNA who gave me the lowdown on the dealer BS. Assuming I take the deal, you guys saved me nearly $6000.

kyfdx

I know it is apples and oranges... but, the lease deals on the 3-series convertibles are just average right now..

Here is the orange... I leased an '05 330Cic with an MSRP of $49,370 last November.. It was the last '05 on the lot, so I didn't get to pick options, color, etc...

3yr/45K lease.. $1194 due at signing (including $550 security deposit).

Monthly is $499/mo.+tax = $529/mo. total

MF was .00075.. Residual was an amazingly strong 61% (amazing, since the '06s were already on the lot).

There was a $2K dealer cash incentive... I got the car for straight invoice ($2K gross to the dealer), with the base MF.. My only bump was an extra $200 on the acq.fee.

Not only did I get a very good deal from the dealer, but the leasing program from BMWFS was extremely strong..

So... your deal is decent... it is just the leasing paramaters from BMWFS that are just average..

Don't know if this helps... I'd suggest waiting, but no telling what the future might hold.

regards,
kyfdx

roger1111

Hi!
I am about to lease a 325 convertible in sparkling graphite.

I am trying to figure out my lease right now and I think the the numbers i was given by the dealership are better than what I get when I do my own calculations. Can you help?

It is for a leather, automatic with premium and sports package with heated seats. Here are the numbers:

MSRP: $46,395
Cap Cost: $43,870
I am being told a 24 month lease with 10K miles is $2500 down and then the next 23 payments are $548 plus tax.

Is this a good deal?

cicbuyer2003

Thanks Kyfdx.

Your thoughts are very valuable. Of course it helps. Thank you for donating your time to be such an incredible resource to the community.

I knew the deal is just decent. Possibly I could have wrung another 1000 out of the sale, but at what cost? I'm very busy, and losing a whole day of work over a stupid car and 1000 is not something I can repeat too often. The deal is what it is and being they are stopping production on the car in a month or two, and a package near to what I wanted was difficult to find now, I just went with it.

I could even live with BMWs base rates, but to get gouged on the financing by a dealer who has already made a good profit leaves me cold.

Here's one you are going to like: They won't even throw in floor mats, after telling me they would at the time of sale. Instead they hid the cost in the lease worksheet (haven't actually seen the agreement yet. With this track record, that should be scintillating reading). It was under "accessory." I asked what the $125 charge was and they told me. I told them I had no intention of financing floor mats for three years and take it off. Now they want to charge me $85 for rubber ones.

It's incredible really. They take (conservatively) about $4000 in profit and hidden fees on a $50,000 car, then tell me the floor mats are optional after giving them away a month ago and then trying to unload them as a hidden charge. Right now there is better than a 50/50 chance that I am going to take my deposit back and go get the Mercedes this morning even though it is going to cost a bit more. At least that's a good deal and the guy is being straight with me. I was very patient waiting a month for this car, to be greeted by this?

As I don't believe they deserve loyalty and have now admitted to something that is a little crooked to say the least, I am outing this horrible dealership:

Baron BMW. Kansas City.

maxim49

I'm not quite sure how tax is calculated in PA for a lease, but in NJ, you pay tax on the depreciation amount. When I run your numbers using a 9% tax rate with the NJ calculation, I get $489.85 a month for 36 mnths.
This is using the MF of .00167 and residual of 64%.
So I 'm not quite sure were $531 or $516 are coming from.
Either the residual is wrong or the MF is wrong or maybe the selling price.
I would definitely look into this as the numbers just don't add up to the monthly payment you were given.
Good luck

docgary

Even without knowing the factor/int %, residual and other points that sounds too good to be true!!!

Is this in writing? Whats the OOD $?

$2500 plus 1st month, MV fees, bank fee sec deposit, etc?

I'd love to know what city/state/dealer this is -
I'd take a plane tomarrow!

Gee, a fully equipped Lexus ES 350 is more!

Please post more info...thanks

docgary in NJ

CarMan@Edmunds

Don't worry about it, cbp1. It happens all the time. I already provided you with this car's 36 month money factor. Its 12,000 mile per year residual value is 2% higher than its 15,000 mile per year residual.

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CarMan@Edmunds

I'm glad that you like this site so much, saddletramp. Congratulations on your expected baby. BMW's lease program for the 330i isn't bad. Its special money factor for this car is .00175, which is equivalent to an interest rate of around 4.2%. The best part of this car's lease program is its strong residual values. This car's 36 month, 15,000 mile per year residual value is a solid 62%. If I was in the market for a 330i, I personally would probably lease it.

As far as your trade in goes, you would be better off having the dealer that you are working with cut you a check for the equity that you have in your truck than using the proceeds from it as a down payment for your lease. I always advise community members against making down payments on leased vehicles because if their leased car or truck is totaled in an accident or stolen and never recovered during their lease, their down payment essentially disappears.

A used 330 would be an interesting option as well. There's nothing wrong with picking up a CPO one if you can get a decent deal on it.

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CarMan@Edmunds

Hi stanford06. $500 over the Edmunds.com True Market value for this car definitely is not a great deal. Consumers who are in an area that has a decent level of competition are usually able to beat vehicles' TMV prices without too much trouble. Also, the money factor that you were quoted is too high. BMW Financial Services' current buy rate lease money factor for the 2006 330i is .00175 with the payment of a security deposit and acquisition fee at lease signing. It appears as though the dealer that you are working with is marking this car's money factor up in an attempt to add additional back-end profit to your deal. This sort of thing happens all the time, but can usually be avoided by consumers who know what their vehicle's buy rate should be.

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CarMan@Edmunds

Greetings tcn2k. I would be happy to calculate what the lease payment should be like right now on the exact car that you are interested in. I just need you to provide me with its approximate selling price. You should be able to get an idea of how much you will have to spend to get this car right now by stopping by the following discussion: "BMW 3-Series: Prices Paid & Buying Experience".

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CarMan@Edmunds

Hi shehzy. $1,000 over dealer invoice plus the use of BMW's buy rate money factor and no acquisition fee mark up sounds very reasonable to me.

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CarMan@Edmunds

Hello rrsa. The selling price that you were quoted for this car looks OK. You are getting it for $1,800 over dealer invoice. This isn't terrible, but I;ve definitely seen people get this car for less. This dealer is trying to mark your car's money factor up to add additional back-end profit to your deal. BMW Financial Services' current buy rate money factor for the '06 330i is .00175. Make sure to insist that this is the factor that is used to calculate your car's lease payment. It wouldn't hurt to try to haggle with this dealer a little more or to shop around. If you are in an area that has a decent level of competition I would not be surprised if you were able to beat this deal.

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CarMan@Edmunds

Hi argen4444. This data is not published anywhere by BMW FS, other than in dealer bulletins. The dealer that you are working with doesn't have to buy your argument. They know that BMW's buy rate money factor for the 330i is currently less than what they are telling you it is. In fact, BMW actually lowered this car's buy rate even further to .00175. You don't have to convince the dealer of anything, both you and they know that they are lying to you. Tell them if they don't use this car's buy rate to calculate your car's monthly payment you'll lease from a different dealer.

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CarMan@Edmunds

Hi Bjtec. I would be happy to give you an idea of what sort of lease payment you can expect to pay for the car that you are interested in. In order to do so though I need you to provide me with its selling price. This is a very important number for you as a consumer to know because it shows you how much of a discount you are being given and it will enable you to calculate what your car's lease payment should be. You should be able to get an idea of how much you will have to pay for this car by visiting the following discussion: "BMW 3-Series: Prices Paid & Buying Experience".

The money factor that you were quoted for this car is too high. BMW Financial Services' current buy rate money factor for it is .00225 for consumers who pay a security deposit and acquisition fee at lease signing. It appears as though the dealer that you are working with is attempting to mark your car's buy rate money factor up to add additional back-end profit to your deal. This sort of thing happens all the time, but it can usually be avoided by consumers who know what the buy rate for the vehicle that they are interested in is.

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CarMan@Edmunds

Hello fanofthedeal. BMW Financial Services' current buy rate lease money factor for a 36 month lease of both the 2006 330i and 330xi are .00175. This is equivalent to an interest rate of around 4.2%.

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CarMan@Edmunds

Here you go, 24601. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2006 325i with 12,000 miles per year are .00225 and 63%, respectively. BMW FS' base acquisition fee is currently $625.

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CarMan@Edmunds

Hi 737capt. Acquisition fees are legitimate charges on leases. Every bank that leases vehicles to consumers charges one. Having said this, BMW Financial Services' buy rate lease money factor is currently $625. The dealer that you are working with is trying to mark its fee up by $200 to add additional hidden back-end profit to your deal. You may be able to avoid this by confronting them with what your car's acquisition fee should actually be. If not, just make sure that you take the extra $200 into account when you decide if you are getting this car for a good price. I always encourage community members to concentrate on the big picture when buying or leasing a new vehicle. Look at the out-the-door price of the car that you want, including all of the fees that the dealer that you are working with is trying to tack onto your deal. If you believe that the total price that you are bring charged for the car that you are interested in is less than or equivalent to how much you would have to pay for it at another dealer it really doesn't matter how the price breaks down.

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CarMan@Edmunds

Hi cnote2. This car's lease program varies depending upon how long you lease it for and its mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2006 325i with 15,000 miles per year are .00225 and 61%, respectively.

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CarMan@Edmunds

Greetings roger1111. The car that you described has a spread of around $3,800 between its full MSRP and dealer invoice price. You were quoted a discount of around $2,500 on the specific car that you are interested in, so you are probably at around $1,300 or so over dealer invoice. This is a reasonable deal. Using the prices that you mentioned in your post, an MSRP of $46,395 and a capitalized cost of $43,870, and BMW's current lease program for this car I estimate that its zero down, pre-tax, 24 month, 10,000 mile per year monthly payment should be around $553.

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roger1111

Thanks for your help! I got the car last week and love it.

roger1111

Hi docgary,

Well I got the car on Thursday so it is defintely true. I actually got a slightly better deal.

Here is the info:
I got a sparkling graphite 325 convertible with premium, sports package, heated seats and xenon lights.

MSRP: $47,195
Gross Cap Cost: $44,421
Residual: 73%
Lease Factors: .0019
24 months/10,000 miles.

I put $1394 down, but with my taxes and first months payment, the total first payment was $2,500.

My monthly payment is $585 INCLUDING tax.

Let me know if you have more questions. Have a great day.

nexuslexus

Hello.

I live in the detroit area and am looking for a 12 month lease on an AWD three series. Does anybody know of a dealer in the Metro detroit area willing to do 12 month leases?

cicbuyer2003

Update:

well, I got them to reduce the money factor to .00205, and the salesman adjusted the price down to compensate for the difference to .00185 (meaning he took it in the shorts on commission(?)).

No luck lowering the inflated acquisition fee. When I tried to lower the payment further to adjust the security deposit down, the financial guy told me that the security deposit is calculated on the "undiscounted" value. Another lie :mad: . If they want 3 years interest on $400 that bad, they need it more than I do.

Oh and the "freebie" was eventualy the floor mats. Considering they ship with the car from Germany, I thought it was big of them.

In an ideal world I would have just walked away. However, this was a special order, not the type of car you find sitting on the lot in a closeout sale. I didn't feel like waiting three months for another one from another dealer, and in the end I probably would have saved very little doing it. I consider principle, but here the time invested ruled.

All in all, this was a very unpleasant experience, and obviously I won't be returning to Baron BMW, Kansas City with my repeat business nor could I recommend them to my clients. We will take ED on future vehicles, which can be done through any dealer.

On the positive side, my wife and I really like the car. Thanks BMW, but please do something with your dealers. At a minimum, BMW needs to teach their dealers how to lie better. Leaving customers feeling like a picked over corpse is not good business practice.