hmmm doing MSDs does sound like a good idea...thnx for the tip on negotiating the Doc fee...ill try to lower it by 300 or so...do you think the money factor/price on the car would go down in august?
36/15k lease for $621 per month includes 6% Fl tax) $2800 due at signing.. includes tax, tag, fees, first mo pymt, gap insurance
Car is 07 335i sedan black with prem and sport pkgs, steptronic, comfort access, heated front seats, park distance control, sirius radio, Ipod adaptor. Please let me know if this is a good deal....asap going today to negotiate. Can I negotiate the price 3000 down?? Can I get the payment any lower somehow? I am very new to leasing. Thanks is advance!!!!!!All replies welcome oh and what is CAp Cost?? Also What should I do with the Gap INsu, get it dealer or my own insurance co.? My own is. Co. says they have exclusion fire theft, and flood. Dealer covers everything except fraudulent activity. But it sounds much more expensive.
I am not sure if the MF and residual will change for August as they have been fairly consistent for the past few months. Go to www.bimmerfest.com and look in "Ask the Dealer" forum, at the top there is the current months lease details for all BMW's.
Doc fees may be non-negotiable but the acquisition fee is negotiable down to $625 so you have some scope to knock a few $$$ of the cap cost.
Your monthly payment will be lower with cap reduction compared to MSD's but remember to get a true monthly cost you need to divide the money you put down as cap reduction by the number of months and then add that to the monthly amount. So for example a $3600 down payment on a 36 month lease adds $100 to the monthly cost.
Does anyone know if BMWFS would have a problem writing a lease with a debadged car? I'd probably do ED on a 335 sedan, and since those are all special orders, I should be able to get the car without the jewelry, no?
hey car_man, I'm really excited abt writing in this forum.I've been reading these for abt 2 months now.Anyways with all the info i got here i went to test drive 07 328 xi sedan.the dealer offered the following lease options for 39 months 15k/year.no money down and securtiy deposit rolled over in the monthly payments
MSRP: 38,595 invoice: 36,065 agreed upon value: 36,965 + 1243.49(sales tax)= 38,208.49--this is his first offer straight up without any negotiations.
residual- 23,542.96 (61%) depreciation charge=14,665.54 rent charge= 4431.20 total of base MP= 19,096.74
please tell me how's this deal? Is is good enough or can i go even lower.He also said that this deal can be only till the month end coz august has new rates.But, can i wait till august 5th as its that date where they get the new rates.
Does MF depend on credit score?? If so, the dealer quoted me 0.0022 MF for say 700 credit score. My acual credit score is 670. Will my MF increase?or is it set to 0.0019 for july.
BMW only uses tiers when the model uses the standard rate.. If the model has a subsidized money factor, then it is one size fits all. Assuming you qualify, the only fluctuation in money factors is when the dealer marks up the rate for more profit.
Here's the deal that I closed today, but have not signed any contract...will take delivery in 2 days: 2007 335i sedan black sapphire w/ black interior sport pkg auto w/ paddle shifter premium pkg heated seats convenience access
Lease for 36mo 15K mi/yr (1st time BMWFS lease for me)
MSRP: $46775 Selling price: $44644 (3.5% over invoice) net cap cost: $48256 (tax and doc fees rolled into lease)
cap cost includes $2822 (TX state sales tax upfront), $500 transport fee (vehicle in another city), $50 doc fee, $133 license, title, state inspection fees, and $107 veh inventory tax (is this tax legit?)
residual: $33210 (71% of MSRP) MF: 0.0023
Monthly payment: $621.41 (although I calculated $605.30)
Drive-off: $781.70 (1st mo and other doc fee $160) NO down payment, NO security deposit
QUESTIONS: 1) Is this 71% residual possible for a 36mo 15K mi/yr lease? I'm not complaining...but can anyone think of any negative implications for an inflated residual given that everyone else is using 61%? 2) MF of 0.0023? When I asked about the published July buy rate of 0.00175, dealer stated not using special subsidized rate...MF is higher due to no security deposit. Could MF also be higher due to rolling in taxes and fees as well?
That looks like the residual for 24 months.. Either the finance person screwed up or it is just a bait and switch..
If you take delivery, and then the contract gets bounced back, you'll have to sign a new lease, or give them the car back.. It will be too much money for the dealership to eat, if it is a legitimate mistake.
Don't be surprised if you get a call before Thursday.. Unless the dealership knows about some super-duper lease program that starts today...
MF is .00175.. The sec.deposit waiver bump takes it to .0019.. The rest of it is the dealer taking the maximum markup for additional profit..
Well, I confirmed it with the internet sales manager I was dealing with...it's 71% residual for a 36mo 15K mi/yr lease. And I've got a copy of the lease deal where I signed. I'm just waiting to pickup the car tomorrow and sign the lease contract.
So it's possible to sign a lease contract, take delivery, and have BMWFS deny and not honor the contract? Doesn't the dealer have to get approval for the deal by BMWFS before they write up the contract?
Getting your application approved, and submitting a final contract might be two different things.. After all, no lease contract is final, until you take delivery of the car..
Me? I'd just go along... worst case.. they ask you to renegotiate or bring the car back.. No harm done.. put the upfront money on a credit card.
I hope you get this deal, because the monthly is really good for that car... But, I have serious doubts..
You were right on! Dealer finally admitted they made an error on the deal...71% was for the 2yr lease.
Anyways, re-negotiated and got selling price $1500 above invoice w/ MF .00126 w/ max 8 MSD Residual 61%. Still working on trying to get $825 acquisition fee down lower. Monthly should be about $650.
thanks for your help! Will be picking up car tomorrow afternoon.
My lease of a 2004 330i is about to end, and I am interested in purchasing the vehicle. I live in Maryland and the car only has 25,000 miles.
Is there any way I can avoid paying "double tax" on the car, since I already paid sales tax on the full purchase price of the vehicle when I initially leased the car? Are there particular dealerships or other 3rd parties who can offer some kind of paid/unpaid service to help avoid paying tax again?
Hi, We are negotiating a deal on a 335 sedan and an x3. After talking with the dealer (multiple times) and including MACO ($580) we are still off. He says that he is giving us invoice yet show that it's $715 over invoice on the 335. Any idea where they are making up the difference? The dealer says that he doesn't have the detailed invoice, just the total number.
Can these be financed through BMW FS or do I have to go through a financial institution? Thank you. What are representative rates for 3 years through BMW FS if possible?
Just want to thank everyone who posts here as it really helped me negotiate a much better deal than I would have received otherwise. So to help the next person, here is what I got (we bought two cars):
My Price: $39,800 = Edmunds invoice + $580 Advertising, etc. + $390
acquisition fee: $625 each Doc Fee: $45 each Floor mats included
I had alot of problems getting my edmunds numbers to match the dealer numbers and they were very hesitant to share them with me. Next time I would simply give them the price I am willing to pay by taking edmunds invoice + $550ish for advertising + whatever over invoice you are willing to pay. I was negotiating just amount over invoice and the problem was that my invoice and there invoice were much different.
We were able to reduce the MF from 2.3 to 1.66 for the X3 and from 1.75 to 1.26 for the 335i, by putting down 8 security deposits. We calculated this at about an 11.3% return on investment. However, every dealer we talked to really tried to talk us out of doing this so you really have to push hard to get it.
It took me weeks to get the exact cars and pricing I wanted. At the end of it I would highly recommend Norwalk McKenna as they worked hard to find the exact cars we wanted and were the most flexible on price. In case you are interested, I worked with Arthur Reyes.
Here is what I got today 8/4 (South Florida) on a 335i sedan.
335i Sedan: Auto/Sport pkg/Premium pkg/iPod/Leather/Sirius/High Def Radio/Bluetooth (more options than I wanted but it was the only one on the lot in the colors I wanted) - Silver/Black int.
Want some help in figuring out if the quote that i got from the dealer is worth or not? Here are the details:
Car Details/options: Space Grey metalic, Sports Pkg, Premium Pkg, BMW Assist with Bluetooth wireless technology, Steptronic Transmission,Comfort Access, BMW navigation system, Logic 7 sound system, iPod adapter, Park distance control MSRP: $47375 (Dealer said that they cannot do better than MSRP since this car is hot right now)
36 Month lease
12K Miles $3000 down (Capital Cost reduction) payment: $ 690 $4000 down (cap cost) Payment: $ 660
15K miles $3000 Down (cap cost reduction) Payment: $ 660 $4000 Down (cap cost reduction) Payment: $ 680
*MF with no security deposit: 0.00215 *MF with security deposit: 0.00200
Mind you both the payments were made with a huge downpayment which goes in as Cap cost reduction (Which is very stupid cos its like throwing money down the drain) and these numbers dont tally up with the numbers when i run the numbers through BMW website financial calculater. That gives me a much more realistic number of 608, 633 for 3k down and 579,603 for 4k down. Can any one please advice me on this? I want to know what i need to go ask the salesman? I really want to buy this car but i want my payments to stay in the range of lower 600's (i see that most people have achieved that by reading the forum) I would preffer to do 0 down for cap cost and do multiple SD to lower my MF. please help!!!
BMW Financial Services Lease Programs – 8/6/07
For lease programs shown in BOLD, a bank lease program may have lower payments. Click on a vehicle name to compare current bank lease programs through LeaseCompare.com.
2008 MODELS
2008 BMW 528i Sedan 24 Month – Residual 73% of MSRP – .00225 Base Rate 36 Month – Residual 60% of MSRP – .00225 Base Rate 48 Month – Residual 45% of MSRP – .00325 Base Rate 60 Month – Residual 36% of MSRP – .00325 Base Rate
2008 BMW 528xi Sedan 24 Month – Residual 71% of MSRP – .00260 Base Rate 36 Month – Residual 60% of MSRP – .00260 Base Rate 48 Month – Residual 44% of MSRP – .00325 Base Rate 60 Month – Residual 35% of MSRP – .00325 Base Rate
2008 BMW 535i Sedan 24 Month – Residual 71% of MSRP – .00225 Base Rate 36 Month – Residual 60% of MSRP – .00225 Base Rate 48 Month – Residual 44% of MSRP – .00325 Base Rate 60 Month – Residual 35% of MSRP – .00325 Base Rate
2008 BMW 535xi Sedan 24 Month – Residual 70% of MSRP – .00260 Base Rate 36 Month – Residual 60% of MSRP – .00260 Base Rate 48 Month – Residual 42% of MSRP – .00325 Base Rate 60 Month – Residual 34% of MSRP – .00325 Base Rate
2008 BMW 535xi Wagon 24 Month – Residual 70% of MSRP – .00260 Base Rate 36 Month – Residual 60% of MSRP – .00260 Base Rate 48 Month – Residual 38% of MSRP – .00325 Base Rate 60 Month – Residual 30% of MSRP – .00325 Base Rate
2008 BMW 550i Sedan 24 Month – Residual 69% of MSRP – .00245 Base Rate 36 Month – Residual 59% of MSRP – .00245 Base Rate 48 Month – Residual 38% of MSRP – .00325 Base Rate 60 Month – Residual 30% of MSRP – .00325 Base Rate
2008 BMW M5 Sedan 24 Month – Residual 70% of MSRP – .00325 Base Rate 36 Month – Residual 57% of MSRP – .00325 Base Rate 48 Month – Residual 44% of MSRP – .00325 Base Rate 60 Month – Residual 35% of MSRP – .00325 Base Rate
2007 MODELS
2007 BMW 328Ci Coupe 24 Month – Residual 68% of MSRP – .00160 Base Rate 36 Month – Residual 58% of MSRP – .00160 Base Rate 48 Month – Residual 40% of MSRP – .00325 Base Rate 60 Month – Residual 33% of MSRP – .00325 Base Rate
2007 BMW 328xi Coupe 24 Month – Residual 68% of MSRP – .00165 Base Rate 36 Month – Residual 58% of MSRP – .00165 Base Rate 48 Month – Residual 41% of MSRP – .00325 Base Rate 60 Month – Residual 33% of MSRP – .00325 Base Rate
2007 BMW 328i Sedan 24 Month – Residual 71% of MSRP – .00140 Base Rate 36 Month – Residual 61% of MSRP – .00140 Base Rate 48 Month – Residual 40% of MSRP – .00325 Base Rate 60 Month – Residual 33% of MSRP – .00325 Base Rate
2007 BMW 328xi Sedan 24 Month – Residual 71% of MSRP – .00150 Base Rate 36 Month – Residual 61% of MSRP – .00150 Base Rate 48 Month – Residual 40% of MSRP – .00325 Base Rate 60 Month – Residual 33% of MSRP – .00325 Base Rate
2007 BMW 328i Wagon 24 Month – Residual 70% of MSRP – .00240 Base Rate 36 Month – Residual 60% of MSRP – .00240 Base Rate 48 Month – Residual 38% of MSRP – .00325 Base Rate 60 Month – Residual 31% of MSRP – .00325 Base Rate
2007 BMW 328xi Wagon 24 Month – Residual 70% of MSRP – .00250 Base Rate 36 Month – Residual 60% of MSRP – .00250 Base Rate 48 Month – Residual 38% of MSRP – .00325 Base Rate 60 Month – Residual 31% of MSRP – .00325 Base Rate
2007 BMW 328i Convertible 24 Month – Residual 71% of MSRP – .00325 Base Rate 36 Month – Residual 60% of MSRP – .00325 Base Rate 48 Month – Residual 45% of MSRP – .00325 Base Rate 60 Month – Residual 37% of MSRP – .00325 Base Rate
2007 BMW 335i Coupe 24 Month – Residual 68% of MSRP – .00200 Base Rate 36 Month – Residual 58% of MSRP – .00200 Base Rate 48 Month – Residual 41% of MSRP – .00325 Base Rate 60 Month – Residual 33% of MSRP – .00325 Base Rate
2007 BMW 335i Sedan 24 Month – Residual 71% of MSRP – .00175 Base Rate 36 Month – Residual 61% of MSRP – .00175 Base Rate 48 Month – Residual 41% of MSRP – .00325 Base Rate 60 Month – Residual 34% of MSRP – .00325 Base Rate
2007 BMW 335xi Sedan 24 Month – Residual 71% of MSRP – .00190 Base Rate 36 Month – Residual 61% of MSRP – .00190 Base Rate 48 Month – Residual 42% of MSRP – .00325 Base Rate 60 Month – Residual 34% of MSRP – .00325 Base Rate
2007 BMW 335i Convertible 24 Month – Residual 69% of MSRP – .00325 Base Rate 36 Month – Residual 59% of MSRP – .00325 Base Rate 48 Month – Residual 44% of MSRP – .00325 Base Rate 60 Month – Residual 36% of MSRP – .00325 Base Rate
2007 BMW 525i Sedan 24 Month – Residual 61% of MSRP – .00320 Base Rate 36 Month – Residual 48% of MSRP – .00320 Base Rate 48 Month – Residual 38% of MSRP – .00320 Base Rate 60 Month – Residual 30% of MSRP – .00320 Base Rate
2007 BMW 525xi Sedan 24 Month – Residual 61% of MSRP – .00320 Base Rate 36 Month – Residual 48% of MSRP – .00320 Base Rate 48 Month – Residual 38% of MSRP – .00320 Base Rate 60 Month – Residual 31% of MSRP – .00320 Base Rate
2007 BMW 530i Sedan 24 Month – Residual 59% of MSRP – .00320 Base Rate 36 Month – Residual 47% of MSRP – .00320 Base Rate 48 Month – Residual 36% of MSRP – .00320 Base Rate 60 Month – Residual 29% of MSRP – .00320 Base Rate
2007 BMW 530xi Sedan 24 Month – Residual 61% of MSRP – .00320 Base Rate 36 Month – Residual 48% of MSRP – .00320 Base Rate 48 Month – Residual 38% of MSRP – .00320 Base Rate 60 Month – Residual 30% of MSRP – .00320 Base Rate
2007 BMW 530xiT Wagon 24 Month – Residual 57% of MSRP – .00320 Base Rate 36 Month – Residual 45% of MSRP – .00320 Base Rate 48 Month – Residual 35% of MSRP – .00320 Base Rate 60 Month – Residual 28% of MSRP – .00320 Base Rate
2007 BMW 550i Sedan 24 Month – Residual 57% of MSRP – .00320 Base Rate 36 Month – Residual 44% of MSRP – .00320 Base Rate 48 Month – Residual 35% of MSRP – .00320 Base Rate 60 Month – Residual 27% of MSRP – .00320 Base Rate
2007 BMW M5 Sedan 24 Month – Residual 68% of MSRP – .00320 Base Rate 36 Month – Residual 56% of MSRP – .00320 Base Rate 48 Month – Residual 43% of MSRP – .00320 Base Rate 60 Month – Residual 34% of MSRP – .00320 Base Rate
2007 BMW 650Ci Coupe 24 Month – Residual 67% of MSRP – .00285 Base Rate 36 Month – Residual 57% of MSRP – .00285 Base Rate 48 Month – Residual 40% of MSRP – .00325 Base Rate 60 Month – Residual 33% of MSRP – .00325 Base Rate
2007 BMW 650CiC Convertible 24 Month – Residual 69% of MSRP – .00285 Base Rate 36 Month – Residual 59% of MSRP – .00285 Base Rate 48 Month – Residual 47% of MSRP – .00325 Base Rate 60 Month – Residual 39% of MSRP – .00325 Base Rate
2007 BMW M6 Coupe 24 Month – Residual 67% of MSRP – .00325 Base Rate 36 Month – Residual 57% of MSRP – .00325 Base Rate 48 Month – Residual 45% of MSRP – .00325 Base Rate 60 Month – Residual 38% of MSRP – .00325 Base Rate
2007 BMW M6 Convertible 24 Month – Residual 70% of MSRP – .00325 Base Rate 36 Month – Residual 59% of MSRP – .00325 Base Rate 48 Month – Residual 47% of MSRP – .00325 Base Rate 60 Month – Residual 39% of
I just got a 2007 BMW 328i sedan with automatic, Premium package and ipod adapter for $484 including tax a month. It's a 12,000 mile 36 month lease. There was also $1700 drive off total including 1st month and security. The car had an MSRP of $38,100 and I got it down to $36,630 including floor mats. I'm in Southern California. Did anyone get a deal similar to mine? Car man, do you think it was a good deal?
hey dondkim...i ordered a 328i sedan w/ nav system, power seats,sport package,xenon headlights,mettalic paint...MSRP 40420$,selling price 37800$,although 10k/24month,2500$ drive-off,435 payment includ. tax...i guess u still had room to lower selling price, usually they can sell 328i sedan up 2 200$ above invoice...i believe in ur case, salesperson wanted to get some commision and he did! ....u do still have the receipt?return the car...just kiddin...good luck
It is very rare to get a 328 for only $200 above invoice. $1000 is more like it, so I think the deal was fine. No point in telling him it was bad when he has bought the car.
This is my first lease and I'd like to know what you guys think. I'm in Austin, TX (taxes, ugh) and feel like I may be getting a bum deal compared to others here.
335i Sedan, Sports package, automatic transmission, paddle shifters, Alpine White
1600 down (first month + deposit) 12k/yr, 3yr lease RV: 63% MF: .00230 (includes sec. dep. waiver)
Monthly payment: $650
How is this deal?
I'm working through emails and every time I try to lower the price based on others experiences from this forum, I get paragraph after paragraph of explanations for why this price can't be lower and why that price can't be lower - specifically claiming that no BMW Texas dealers give money factors at the base rate when I said I want the base rate + security deposit waiver. Is this true?
I want to get the 825 acq. fee down to 625, as well. Is that normal or should I expect somewhere in the middle?
Lastly, what are all of those costs in the tax and license section? I don't even know what "doc fee" or "2yr insp" or "road and bridge" mean! Normal, or markup I shouldn't be paying for?
hey guy1974...i didn t mean anythign..i just answered his q...and it is not rare...200$ above invoice is what they need to sell only in case of 328i sedan(not talking bout coupe which is 1500).and as i mentioned before,if u want to get a good deal, dun ever directly go to dealership...send an email to couple of dealerships and deal with their internet fleet dept.,cause they only get some fixed amount of money per car they sell not based on selling price...more car they sell,mor emake money....quantity matters...they r totally different dept than sales people on the showroom floor...I managed to lower MF(despite not being new BMW customer) to 0.0015...so they are able to do so...all u need is patience and not showing anykind of excitement to get the car asap...adiossssssss :shades:
This is before negotiation, I'm trying to get the MF down but unlikely, so another option is to waive the MACO/training or $625 acquition.
I'm not looking for the best deal, I just wanted to make sure this is fair in Chicago area, I calculated dealer is getting about $1k+ on this deal. Let me know! Thanks in advance!!
I recently bought a 328i and emailed three local dealers. I got the buyrate on the MF and paid $1000 over invoice, this is reasonable - the dealer needs to make some money (no holdbacks from BMW) and remember this is a BMW not some crap product.
I have a 2004 330xi lease which is up in September. Any advice about returning the car? I leased a 3007 335xi. The sales guy advised me to get the car inspected by BMW Financial prior to returning it at the dealer. Since I got another BMW, shouldn't the dealer help me slide on the little dings and scratches? Should I wait and let BMW Financial inspect the car after I return it to the dealer?
Thanks for all the advice guys. It's come in handy.
I found in this weekends newspaper a 328i sedan with 0 due at inception and 399/month at Braman motors. You can find the deal on the website. Not sure if its just a tactic to get people in the door but it sounds like a great deal. Any comments would be appreciated.
Hello. I'm in the process of negotiating a lease on a 2007 328xi with 3K miles on it as a demo. The dealer is offering $600 off the invoice. Is that enough of a discount considering the $3000 miles? Any input/advice would be appreciated.
This has been my experience in Baltimore this week. But compared to what I've seen posted here, the residual is higher- 63% rather than 61%, but they won't budge on the MF. The 07 335i's seem to be getting in relative short supply compared to the 328's so I don't think it's really worth it to squeeze the last few $100's if your really want the car now.
Just had a look, it does not specify mileage but I expect it is 10K a year. Also you have to qualify for Elite status on the credit check - not sure what credit score is needed for this.
Otherwise seems a reasonable deal, but the car is the base model with automatic transmission only. So if you wanted metallic paint, sports pack, leather etc then you would be paying more.
I am in the process of leasing a 335i sedan and i just want to know if this seems like a good deal to you guys. 2007 BMW 335i sedan Msrp 41,750 purchase price 40,900 535 mo with taxes (NJ) 24 mo/15,000 mi (i drive alot and I am young so i don't want to commit to 36 mos this car lot of uncertainty)
Hi p1dallas. $850 over dealer invoice isn't bad if your lease is being calculated using BMW FS' buy rate lease money factor. Keep in mind though that the dealer is also marking up your car's acquisition fee by $200, so this deal is really more like $1,050 over invoice.
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Hi lamp. What you were told is correct. BMW is not currently providing lease support on the 2007 3-Series Convertible. Having said this, the money factor that you were quoted still looks a little high to me. BMW Financial Services' buy rate standard lease money factor should be more like .00320 to .00350. There may be a little money factor mark up going on here. BMW's current lease program for this car is scheduled to run through September 4th. It is difficult to say what its new September lease program for the 3-Series Convertible will be like, but I don't personally expect BMW to introduce any lease support on this model next month. It is difficult to say exactly what manufacturers' future programs will be like though.
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Hello Jeff. I am not personally all that familiar with what the market for this specific model is like right now, but $2,100 over dealer invoice gives you a lot of room to play with. Have you tried to comparison shop with several dealers? If not, doing so is a good idea. I am sure that BMW has a number of dealers in your area.
When you finally arrive at a selling price that you are comfortable with, make sure that the dealer that gives it to you uses BMW Financial Services' current buy rate lease money factor of .00150 (with the payment of a security deposit) to calculate your monthly payment.
Car_man Host Prices Paid: Buying & Leasing Experiences Forum
Dealer out near Flint, Michigan suggested that if I want to keep a new 328i for 8 years or about 110,000 miles, 1)lease for three years, 2) have car CPO'ed at end of lease for about $1,300 and 100,000 miles major item warranty coverage, and then 3) buy it with a three year loan at the 2.9-3/9% interest rate that CPOs get through BMWFS.
I ran the numbers and it seems that this is a less expensive way to get a new 328i for 7-8 years than buying outright from the get go because of 2.9-3.9% rate vs. 6%+ for a new car. Additionally, the shorter loan term with the CPO would more than offset the five year term of a new car loan.
Am I missing anything with this analysis? Pros? Cons? The dealer told me that a larger number of people are following this strategy.
Also, does anybody generally order leatherette? How does it hold up and feel in the summer vs. leather? Thank you.
Shipo, thank you for the response. Please let me know how I spend more based on the analysis. I had it that the 3.9% CPO rate would offset the initial leasing period and $1,300 for CPO prep. What am I missing?
How much is the security deposit, cap cost reduction, and other start up costs for the lease? What is the residual value at the end of the lease? What are the monthly lease payments?
Shipo will need at least this much info to prove why leasing will be more expensive (it always is).
"Shipo, thank you for the response. Please let me know how I spend more based on the analysis. I had it that the 3.9% CPO rate would offset the initial leasing period and $1,300 for CPO prep. What am I missing?"
Because you'll be financing that car for a loooong period of time, first with the lease and again with the buy-out loan (which you have no way of knowing what the finance rate will be in a couple three years). I'm thinking that financing a car for eight years (three year lease, five year conventional loan) would mean that you'll rack up more than twice as much in finance changes as you would if you just paid for the car with a 48 month note. I ran a calculation on a $43,000 financed amount and came out with about $4,000 in finance charges. I then calculated how much you'd pay over the eight years with the lease/buy method and it came to well over $8,000. That money doesn't include any origination fees, conversion fees or CPO fees, which if added in, raises the price even more.
Shipo, thank you for answering some basic questions. As I have never leased a car before, the "obvious" items are not ones for which I have had exposure. As going to a BMW is a big step up for me (previously only Pontiacs and Fords), I am debating whether or not I should bite the bullet and buy with a five year loan or lease for three years to see how I like a BMW and then possibly buying a new one, based on your comments.
I have a friend who is in an existing BMW lease that is ending in Oct. She is interested in re-leasing a 2007 328 convert. What are the current residuals and MF's on a 36 month 15k/yr lease on this vehicle. She lives in FL if that matters. Does BMW do any favors for returning leasees? Ie. Waive security deposit, etc.
Because you'll be financing that car for a loooong period of time, first with the lease and again with the buy-out loan (which you have no way of knowing what the finance rate will be in a couple three years). I'm thinking that financing a car for eight years (three year lease, five year conventional loan) would mean that you'll rack up more than twice as much in finance changes as you would if you just paid for the car with a 48 month note. I ran a calculation on a $43,000 financed amount and came out with about $4,000 in finance charges. I then calculated how much you'd pay over the eight years with the lease/buy method and it came to well over $8,000. That money doesn't include any origination fees, conversion fees or CPO fees, which if added in, raises the price even more.
I guess this would make leasing in general a much more expensive proposition than buying since the interest rate on a lease is closer to 5% and you continue to pay that 5% with each new car you get. Hmm. And I was considering trying out leasing for the first time. I suppose there is no free lunch -- you can't drive a new car every few years without paying for this luxury.
"And I was considering trying out leasing for the first time."
If you want a new car every couple of years I see absolutely nothing wrong with leasing, hell, I've been leasing since the mid 1980s and have every intension of continuing that practice.
Regarding the language of my previous post, the point I was trying to make is that if one wants to ultimately own any given car free and clear, it doesn't make any financial sense to lease it first and then buy it out at lease end by taking out another loan on it. Simply buy the car with a conventional loan and you'll be waaaaaay ahead.
I recently ordered a 07 335i coupe at the end of July and I'm expecting to pick up the car in the beginning of September. I've read that there are different buy rates for each month. If that's true, can I renegotiate my deal when I go to the dealer to pick up my car? If so, what items can I renegotiate (MF, deduction off MSRP)?
Here's the deal I got:
MSRP - 43,075 Drive off - 3,800 (~2,600 down) Initial Cap Cost - 42,355 Adjusted Cap Cost - 40,579 = 42,355 + 825 (Bank Fee) Residual - 25,845 (60%) (Is this good for an 07?) Money Factor - 0.00235 (Negotiable???)
Monthly - $613.46 (incl. 8.50% tax) Total @ end of lease - $25.274.44
I dunno, I can almost see the merit in leasing for three years first, particularly if it's your first experience with a BMW (as it would be for me), given how heavily the leases are subsidized these days. If the leases were straight-up, with realistic residuals & market interest rates, I'd be with you 100%. In fact, I have done -- I've never leased a car yet, though I've studied it fairly carefully a couple of times.
If the car proves to be reasonably reliable & not one of the horror stories one hears about, buying it out at the end of the lease may not be all bad. Also, in my case, I'd really like a diesel 3-series, but doubt that any such will be avilable for at least a couple of years, and they may be hard to negotiate on for some initial period as well. Leasing for 3 years would give me the opportunity to enjoy a BMW for a very competitive monthly fee while I wait for the car I'd buy and hold for years, as I have my present vehicle.
Now, if it were possible to negotiate a buyout at less than the stated residual, it'd be a no-brainer, but from what I've heard, it never happens. I've never come to grips with how BMW is able to lease based on a residual that isn't supported by the market when it comes time for them to sell the off-lease unit. Looks a bit like a house of cards to me. Oh well, it obviously works for them.
Comments
hmmm doing MSDs does sound like a good idea...thnx for the tip on negotiating the Doc fee...ill try to lower it by 300 or so...do you think the money factor/price on the car would go down in august?
MF .00175
Rv 61%%
36/15k lease for $621 per month includes 6% Fl tax)
$2800 due at signing.. includes tax, tag, fees, first mo pymt, gap insurance
Car is 07 335i sedan black with prem and sport pkgs, steptronic, comfort access, heated front seats, park distance control, sirius radio, Ipod adaptor. Please let me know if this is a good deal....asap going today to negotiate.
Can I negotiate the price 3000 down?? Can I get the payment any lower somehow?
I am very new to leasing. Thanks is advance!!!!!!All replies welcome
oh and what is CAp Cost??
Also What should I do with the Gap INsu, get it dealer or my own insurance co.?
My own is. Co. says they have exclusion fire theft, and flood. Dealer covers everything except fraudulent activity. But it sounds much more expensive.
Doc fees may be non-negotiable but the acquisition fee is negotiable down to $625 so you have some scope to knock a few $$$ of the cap cost.
Your monthly payment will be lower with cap reduction compared to MSD's but remember to get a true monthly cost you need to divide the money you put down as cap reduction by the number of months and then add that to the monthly amount. So for example a $3600 down payment on a 36 month lease adds $100 to the monthly cost.
I'm really excited abt writing in this forum.I've been reading these for abt 2 months now.Anyways with all the info i got here i went to test drive 07 328 xi sedan.the dealer offered the following lease options for 39 months 15k/year.no money down and securtiy deposit rolled over in the monthly payments
MSRP: 38,595
invoice: 36,065
agreed upon value:
36,965 + 1243.49(sales tax)= 38,208.49--this is his first offer straight up without any negotiations.
residual- 23,542.96 (61%)
depreciation charge=14,665.54
rent charge= 4431.20
total of base MP= 19,096.74
monthy payment= 489.66
disposition fee= 350
aquisition fee=625
please tell me how's this deal? Is is good enough or can i go even lower.He also said that this deal can be only till the month end coz august has new rates.But, can i wait till august 5th as its that date where they get the new rates.
thanks in advance.You guys are great.
Does MF depend on credit score?? If so, the dealer quoted me 0.0022 MF for say 700 credit score. My acual credit score is 670. Will my MF increase?or is it set to 0.0019 for july.
regards,
kyfdx
Edmunds Price Checker
Edmunds Lease Calculator
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Edmunds Moderator
- Automatic
- Cold Weather
- Metallic Paint
- MSRP is $37,675
Invoice is $34,745
+ MACO and training $430
+ Dealer profit $500
= Selling Price $35,675
Lease:
12K miles
39 months
.0019 money factor (4.6% APR)
63% residual (x MSRP = $23,735)
$625 of bank fees rolled into the lease
=$436/month
+5% tax
=$458/month
Fees at signing:
Registration, etc: $358
+ First month
+ Security deposit (one month)
Thoughts? Thanks!
2007 335i sedan black sapphire w/ black interior
sport pkg
auto w/ paddle shifter
premium pkg
heated seats
convenience access
Lease for 36mo 15K mi/yr (1st time BMWFS lease for me)
MSRP: $46775
Selling price: $44644 (3.5% over invoice)
net cap cost: $48256 (tax and doc fees rolled into lease)
cap cost includes $2822 (TX state sales tax upfront), $500 transport fee (vehicle in another city), $50 doc fee, $133 license, title, state inspection fees, and $107 veh inventory tax (is this tax legit?)
residual: $33210 (71% of MSRP)
MF: 0.0023
Monthly payment: $621.41 (although I calculated $605.30)
Drive-off: $781.70 (1st mo and other doc fee $160)
NO down payment, NO security deposit
QUESTIONS:
1) Is this 71% residual possible for a 36mo 15K mi/yr lease? I'm not complaining...but can anyone think of any negative implications for an inflated residual given that everyone else is using 61%?
2) MF of 0.0023? When I asked about the published July buy rate of 0.00175, dealer stated not using special subsidized rate...MF is higher due to no security deposit. Could MF also be higher due to rolling in taxes and fees as well?
Any input much appreciated...thanks!
If you take delivery, and then the contract gets bounced back, you'll have to sign a new lease, or give them the car back.. It will be too much money for the dealership to eat, if it is a legitimate mistake.
Don't be surprised if you get a call before Thursday.. Unless the dealership knows about some super-duper lease program that starts today...
MF is .00175.. The sec.deposit waiver bump takes it to .0019.. The rest of it is the dealer taking the maximum markup for additional profit..
Good luck!
kyfdx
Edmunds Price Checker
Edmunds Lease Calculator
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Edmunds Moderator
So it's possible to sign a lease contract, take delivery, and have BMWFS deny and not honor the contract? Doesn't the dealer have to get approval for the deal by BMWFS before they write up the contract?
Me? I'd just go along... worst case.. they ask you to renegotiate or bring the car back.. No harm done.. put the upfront money on a credit card.
I hope you get this deal, because the monthly is really good for that car... But, I have serious doubts..
regards,
kyfdx
Edmunds Price Checker
Edmunds Lease Calculator
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Edmunds Moderator
thanks again...I'll let you know.
bagsqueeser
Anyways, re-negotiated and got selling price $1500 above invoice w/ MF .00126 w/ max 8 MSD Residual 61%. Still working on trying to get $825 acquisition fee down lower.
Monthly should be about $650.
thanks for your help! Will be picking up car tomorrow afternoon.
bagsqueeser
Is there any way I can avoid paying "double tax" on the car, since I already paid sales tax on the full purchase price of the vehicle when I initially leased the car? Are there particular dealerships or other 3rd parties who can offer some kind of paid/unpaid service to help avoid paying tax again?
-Ro
We are negotiating a deal on a 335 sedan and an x3. After talking with the dealer (multiple times) and including MACO ($580) we are still off. He says that he is giving us invoice yet show that it's $715 over invoice on the 335. Any idea where they are making up the difference? The dealer says that he doesn't have the detailed invoice, just the total number.
BMW 328i
24/15
36/15
IS THERE A CHANCE OF GETTING A GOOD LEASE DEAL ON THE 2007 OR WOULD IT JUST BE THE SAME TO LEASE 2008.
THANKS IN ADVANCE. :shades:
335i Sedan:
6 Spd/Sport/Premium/Nav/iPod/Jet Black
MSRP $46,425
Invoice: $42,705
Edmunds TMV: $44,489
My Price:
$43,770 = Edmunds invoice + $580 Advertising, etc. + $485
X3:
Auto/Premium/Heated Seats/Privacy Glass/White
MSRP $42,175
Invoice: $38,830
Edmunds TMV: $40,860
My Price:
$39,800 = Edmunds invoice + $580 Advertising, etc. + $390
acquisition fee: $625 each
Doc Fee: $45 each
Floor mats included
I had alot of problems getting my edmunds numbers to match the dealer numbers and they were very hesitant to share them with me. Next time I would simply give them the price I am willing to pay by taking edmunds invoice + $550ish for advertising + whatever over invoice you are willing to pay. I was negotiating just amount over invoice and the problem was that my invoice and there invoice were much different.
We were able to reduce the MF from 2.3 to 1.66 for the X3 and from 1.75 to 1.26 for the 335i, by putting down 8 security deposits. We calculated this at about an 11.3% return on investment. However, every dealer we talked to really tried to talk us out of doing this so you really have to push hard to get it.
It took me weeks to get the exact cars and pricing I wanted. At the end of it I would highly recommend Norwalk McKenna as they worked hard to find the exact cars we wanted and were the most flexible on price. In case you are interested, I worked with Arthur Reyes.
Good luck.
335i Sedan:
Auto/Sport pkg/Premium pkg/iPod/Leather/Sirius/High Def Radio/Bluetooth (more options than I wanted but it was the only one on the lot in the colors I wanted) - Silver/Black int.
MSRP: 47,270.00
Negotiated: 45,770.00 (Edmunds TMV = 46,391)
Adjusted: 46,595.00 (45,770 + 825.00 Acquisition fee)
Residual: 63%
MF: .00150 (after 8 security deposits totaling 5,200.00)
Total inception: 1,473.97 (tax + tag)
Monthly Payment:
581.64 + 34.90 (tax) = $616.54
I put down $500.00 sec. to hold this vehicle. Does this sound good?
Want some help in figuring out if the quote that i got from the dealer is worth or not? Here are the details:
Car Details/options:
Space Grey metalic, Sports Pkg, Premium Pkg, BMW Assist with Bluetooth wireless technology, Steptronic Transmission,Comfort Access, BMW navigation system, Logic 7 sound system, iPod adapter, Park distance control
MSRP: $47375
(Dealer said that they cannot do better than MSRP since this car is hot right now)
36 Month lease
12K Miles
$3000 down (Capital Cost reduction)
payment: $ 690
$4000 down (cap cost)
Payment: $ 660
15K miles
$3000 Down (cap cost reduction)
Payment: $ 660
$4000 Down (cap cost reduction)
Payment: $ 680
*MF with no security deposit: 0.00215
*MF with security deposit: 0.00200
Mind you both the payments were made with a huge downpayment which goes in as Cap cost reduction (Which is very stupid cos its like throwing money down the drain) and these numbers dont tally up with the numbers when i run the numbers through BMW website financial calculater. That gives me a much more realistic number of 608, 633 for 3k down and 579,603 for 4k down. Can any one please advice me on this? I want to know what i need to go ask the salesman? I really want to buy this car but i want my payments to stay in the range of lower 600's (i see that most people have achieved that by reading the forum) I would preffer to do 0 down for cap cost and do multiple SD to lower my MF. please help!!!
THanks!
For lease programs shown in BOLD, a bank lease program may have lower payments. Click on a vehicle name to compare current bank lease programs through LeaseCompare.com.
2008 MODELS
2008 BMW 528i Sedan
24 Month – Residual 73% of MSRP – .00225 Base Rate
36 Month – Residual 60% of MSRP – .00225 Base Rate
48 Month – Residual 45% of MSRP – .00325 Base Rate
60 Month – Residual 36% of MSRP – .00325 Base Rate
2008 BMW 528xi Sedan
24 Month – Residual 71% of MSRP – .00260 Base Rate
36 Month – Residual 60% of MSRP – .00260 Base Rate
48 Month – Residual 44% of MSRP – .00325 Base Rate
60 Month – Residual 35% of MSRP – .00325 Base Rate
2008 BMW 535i Sedan
24 Month – Residual 71% of MSRP – .00225 Base Rate
36 Month – Residual 60% of MSRP – .00225 Base Rate
48 Month – Residual 44% of MSRP – .00325 Base Rate
60 Month – Residual 35% of MSRP – .00325 Base Rate
2008 BMW 535xi Sedan
24 Month – Residual 70% of MSRP – .00260 Base Rate
36 Month – Residual 60% of MSRP – .00260 Base Rate
48 Month – Residual 42% of MSRP – .00325 Base Rate
60 Month – Residual 34% of MSRP – .00325 Base Rate
2008 BMW 535xi Wagon
24 Month – Residual 70% of MSRP – .00260 Base Rate
36 Month – Residual 60% of MSRP – .00260 Base Rate
48 Month – Residual 38% of MSRP – .00325 Base Rate
60 Month – Residual 30% of MSRP – .00325 Base Rate
2008 BMW 550i Sedan
24 Month – Residual 69% of MSRP – .00245 Base Rate
36 Month – Residual 59% of MSRP – .00245 Base Rate
48 Month – Residual 38% of MSRP – .00325 Base Rate
60 Month – Residual 30% of MSRP – .00325 Base Rate
2008 BMW M5 Sedan
24 Month – Residual 70% of MSRP – .00325 Base Rate
36 Month – Residual 57% of MSRP – .00325 Base Rate
48 Month – Residual 44% of MSRP – .00325 Base Rate
60 Month – Residual 35% of MSRP – .00325 Base Rate
2007 MODELS
2007 BMW 328Ci Coupe
24 Month – Residual 68% of MSRP – .00160 Base Rate
36 Month – Residual 58% of MSRP – .00160 Base Rate
48 Month – Residual 40% of MSRP – .00325 Base Rate
60 Month – Residual 33% of MSRP – .00325 Base Rate
2007 BMW 328xi Coupe
24 Month – Residual 68% of MSRP – .00165 Base Rate
36 Month – Residual 58% of MSRP – .00165 Base Rate
48 Month – Residual 41% of MSRP – .00325 Base Rate
60 Month – Residual 33% of MSRP – .00325 Base Rate
2007 BMW 328i Sedan
24 Month – Residual 71% of MSRP – .00140 Base Rate
36 Month – Residual 61% of MSRP – .00140 Base Rate
48 Month – Residual 40% of MSRP – .00325 Base Rate
60 Month – Residual 33% of MSRP – .00325 Base Rate
2007 BMW 328xi Sedan
24 Month – Residual 71% of MSRP – .00150 Base Rate
36 Month – Residual 61% of MSRP – .00150 Base Rate
48 Month – Residual 40% of MSRP – .00325 Base Rate
60 Month – Residual 33% of MSRP – .00325 Base Rate
2007 BMW 328i Wagon
24 Month – Residual 70% of MSRP – .00240 Base Rate
36 Month – Residual 60% of MSRP – .00240 Base Rate
48 Month – Residual 38% of MSRP – .00325 Base Rate
60 Month – Residual 31% of MSRP – .00325 Base Rate
2007 BMW 328xi Wagon
24 Month – Residual 70% of MSRP – .00250 Base Rate
36 Month – Residual 60% of MSRP – .00250 Base Rate
48 Month – Residual 38% of MSRP – .00325 Base Rate
60 Month – Residual 31% of MSRP – .00325 Base Rate
2007 BMW 328i Convertible
24 Month – Residual 71% of MSRP – .00325 Base Rate
36 Month – Residual 60% of MSRP – .00325 Base Rate
48 Month – Residual 45% of MSRP – .00325 Base Rate
60 Month – Residual 37% of MSRP – .00325 Base Rate
2007 BMW 335i Coupe
24 Month – Residual 68% of MSRP – .00200 Base Rate
36 Month – Residual 58% of MSRP – .00200 Base Rate
48 Month – Residual 41% of MSRP – .00325 Base Rate
60 Month – Residual 33% of MSRP – .00325 Base Rate
2007 BMW 335i Sedan
24 Month – Residual 71% of MSRP – .00175 Base Rate
36 Month – Residual 61% of MSRP – .00175 Base Rate
48 Month – Residual 41% of MSRP – .00325 Base Rate
60 Month – Residual 34% of MSRP – .00325 Base Rate
2007 BMW 335xi Sedan
24 Month – Residual 71% of MSRP – .00190 Base Rate
36 Month – Residual 61% of MSRP – .00190 Base Rate
48 Month – Residual 42% of MSRP – .00325 Base Rate
60 Month – Residual 34% of MSRP – .00325 Base Rate
2007 BMW 335i Convertible
24 Month – Residual 69% of MSRP – .00325 Base Rate
36 Month – Residual 59% of MSRP – .00325 Base Rate
48 Month – Residual 44% of MSRP – .00325 Base Rate
60 Month – Residual 36% of MSRP – .00325 Base Rate
2007 BMW 525i Sedan
24 Month – Residual 61% of MSRP – .00320 Base Rate
36 Month – Residual 48% of MSRP – .00320 Base Rate
48 Month – Residual 38% of MSRP – .00320 Base Rate
60 Month – Residual 30% of MSRP – .00320 Base Rate
2007 BMW 525xi Sedan
24 Month – Residual 61% of MSRP – .00320 Base Rate
36 Month – Residual 48% of MSRP – .00320 Base Rate
48 Month – Residual 38% of MSRP – .00320 Base Rate
60 Month – Residual 31% of MSRP – .00320 Base Rate
2007 BMW 530i Sedan
24 Month – Residual 59% of MSRP – .00320 Base Rate
36 Month – Residual 47% of MSRP – .00320 Base Rate
48 Month – Residual 36% of MSRP – .00320 Base Rate
60 Month – Residual 29% of MSRP – .00320 Base Rate
2007 BMW 530xi Sedan
24 Month – Residual 61% of MSRP – .00320 Base Rate
36 Month – Residual 48% of MSRP – .00320 Base Rate
48 Month – Residual 38% of MSRP – .00320 Base Rate
60 Month – Residual 30% of MSRP – .00320 Base Rate
2007 BMW 530xiT Wagon
24 Month – Residual 57% of MSRP – .00320 Base Rate
36 Month – Residual 45% of MSRP – .00320 Base Rate
48 Month – Residual 35% of MSRP – .00320 Base Rate
60 Month – Residual 28% of MSRP – .00320 Base Rate
2007 BMW 550i Sedan
24 Month – Residual 57% of MSRP – .00320 Base Rate
36 Month – Residual 44% of MSRP – .00320 Base Rate
48 Month – Residual 35% of MSRP – .00320 Base Rate
60 Month – Residual 27% of MSRP – .00320 Base Rate
2007 BMW M5 Sedan
24 Month – Residual 68% of MSRP – .00320 Base Rate
36 Month – Residual 56% of MSRP – .00320 Base Rate
48 Month – Residual 43% of MSRP – .00320 Base Rate
60 Month – Residual 34% of MSRP – .00320 Base Rate
2007 BMW 650Ci Coupe
24 Month – Residual 67% of MSRP – .00285 Base Rate
36 Month – Residual 57% of MSRP – .00285 Base Rate
48 Month – Residual 40% of MSRP – .00325 Base Rate
60 Month – Residual 33% of MSRP – .00325 Base Rate
2007 BMW 650CiC Convertible
24 Month – Residual 69% of MSRP – .00285 Base Rate
36 Month – Residual 59% of MSRP – .00285 Base Rate
48 Month – Residual 47% of MSRP – .00325 Base Rate
60 Month – Residual 39% of MSRP – .00325 Base Rate
2007 BMW M6 Coupe
24 Month – Residual 67% of MSRP – .00325 Base Rate
36 Month – Residual 57% of MSRP – .00325 Base Rate
48 Month – Residual 45% of MSRP – .00325 Base Rate
60 Month – Residual 38% of MSRP – .00325 Base Rate
2007 BMW M6 Convertible
24 Month – Residual 70% of MSRP – .00325 Base Rate
36 Month – Residual 59% of MSRP – .00325 Base Rate
48 Month – Residual 47% of MSRP – .00325 Base Rate
60 Month – Residual 39% of
I just got a 2007 BMW 328i sedan with automatic, Premium package and ipod adapter for $484 including tax a month. It's a 12,000 mile 36 month lease. There was also $1700 drive off total including 1st month and security. The car had an MSRP of $38,100 and I got it down to $36,630 including floor mats. I'm in Southern California. Did anyone get a deal similar to mine? Car man, do you think it was a good deal?
Thanks.
This is my first lease and I'd like to know what you guys think. I'm in Austin, TX (taxes, ugh) and feel like I may be getting a bum deal compared to others here.
335i Sedan, Sports package, automatic transmission, paddle shifters, Alpine White
MSRP: 42750
Edmunds Invoice: 39410 TMV: 41637
Sell price: 41637
Tax @ 6.25%: 2602.31
Title and Lic: 184.05 (plates: 92.80, doc fee: 50, 2yr insp: 23.75, road and bridge: 17.50)
Acq. Fee: 825
Total: 45,258.36
1600 down (first month + deposit)
12k/yr, 3yr lease
RV: 63%
MF: .00230 (includes sec. dep. waiver)
Monthly payment: $650
How is this deal?
I'm working through emails and every time I try to lower the price based on others experiences from this forum, I get paragraph after paragraph of explanations for why this price can't be lower and why that price can't be lower - specifically claiming that no BMW Texas dealers give money factors at the base rate when I said I want the base rate + security deposit waiver. Is this true?
I want to get the 825 acq. fee down to 625, as well. Is that normal or should I expect somewhere in the middle?
Lastly, what are all of those costs in the tax and license section? I don't even know what "doc fee" or "2yr insp" or "road and bridge" mean! Normal, or markup I shouldn't be paying for?
Thanks so much for your help - I really need it!
328xi barbera red metallic, auto, premium, comfort access, heated seats
MSRP: $41075
Negotited: Invoice + MACO/training + $500 = $38770
MF: 0.000170, w/ MSD = 0.000121
Acquition Fee: $825
Upfront at sign-in (MSD+TTL) = $5190.23
Monthly lease (tax included) = $563.75
This is before negotiation, I'm trying to get the MF down but unlikely, so another option is to waive the MACO/training or $625 acquition.
I'm not looking for the best deal, I just wanted to make sure this is fair in Chicago area, I calculated dealer is getting about $1k+ on this deal. Let me know! Thanks in advance!!
I have a 2004 330xi lease which is up in September. Any advice about returning the car? I leased a 3007 335xi. The sales guy advised me to get the car inspected by BMW Financial prior to returning it at the dealer. Since I got another BMW, shouldn't the dealer help me slide on the little dings and scratches? Should I wait and let BMW Financial inspect the car after I return it to the dealer?
Thanks for all the advice guys. It's come in handy.
d9o9c
Otherwise seems a reasonable deal, but the car is the base model with automatic transmission only. So if you wanted metallic paint, sports pack, leather etc then you would be paying more.
I am in the process of leasing a 335i sedan and i just want to know if this seems like a good deal to you guys.
2007 BMW 335i sedan
Msrp 41,750
purchase price 40,900
535 mo with taxes (NJ)
24 mo/15,000 mi (i drive alot and I am young so i don't want to commit to 36 mos this car lot of uncertainty)
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
When you finally arrive at a selling price that you are comfortable with, make sure that the dealer that gives it to you uses BMW Financial Services' current buy rate lease money factor of .00150 (with the payment of a security deposit) to calculate your monthly payment.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I ran the numbers and it seems that this is a less expensive way to get a new 328i for 7-8 years than buying outright from the get go because of 2.9-3.9% rate vs. 6%+ for a new car. Additionally, the shorter loan term with the CPO would more than offset the five year term of a new car loan.
Am I missing anything with this analysis? Pros? Cons? The dealer told me that a larger number of people are following this strategy.
Also, does anybody generally order leatherette? How does it hold up and feel in the summer vs. leather? Thank you.
Pros:
You spend less per month
You have the option of dumping the car at lease end if it isn't the car you want then
Cons:
You'll spend WAY more for the car than you otherwise should
Best Regards,
Shipo
Shipo will need at least this much info to prove why leasing will be more expensive (it always is).
Because you'll be financing that car for a loooong period of time, first with the lease and again with the buy-out loan (which you have no way of knowing what the finance rate will be in a couple three years). I'm thinking that financing a car for eight years (three year lease, five year conventional loan) would mean that you'll rack up more than twice as much in finance changes as you would if you just paid for the car with a 48 month note. I ran a calculation on a $43,000 financed amount and came out with about $4,000 in finance charges. I then calculated how much you'd pay over the eight years with the lease/buy method and it came to well over $8,000. That money doesn't include any origination fees, conversion fees or CPO fees, which if added in, raises the price even more.
Best Regards,
Shipo
I have a friend who is in an existing BMW lease that is ending in Oct. She is interested in re-leasing a 2007 328 convert. What are the current residuals and MF's on a 36 month 15k/yr lease on this vehicle. She lives in FL if that matters. Does BMW do any favors for returning leasees? Ie. Waive security deposit, etc.
I guess this would make leasing in general a much more expensive proposition than buying since the interest rate on a lease is closer to 5% and you continue to pay that 5% with each new car you get. Hmm. And I was considering trying out leasing for the first time. I suppose there is no free lunch -- you can't drive a new car every few years without paying for this luxury.
If you want a new car every couple of years I see absolutely nothing wrong with leasing, hell, I've been leasing since the mid 1980s and have every intension of continuing that practice.
Regarding the language of my previous post, the point I was trying to make is that if one wants to ultimately own any given car free and clear, it doesn't make any financial sense to lease it first and then buy it out at lease end by taking out another loan on it. Simply buy the car with a conventional loan and you'll be waaaaaay ahead.
Best Regards,
Shipo
I recently ordered a 07 335i coupe at the end of July and I'm expecting to pick up the car in the beginning of September. I've read that there are different buy rates for each month. If that's true, can I renegotiate my deal when I go to the dealer to pick up my car? If so, what items can I renegotiate (MF, deduction off MSRP)?
Here's the deal I got:
MSRP - 43,075
Drive off - 3,800 (~2,600 down)
Initial Cap Cost - 42,355
Adjusted Cap Cost - 40,579 = 42,355 + 825 (Bank Fee)
Residual - 25,845 (60%) (Is this good for an 07?)
Money Factor - 0.00235 (Negotiable???)
Monthly - $613.46 (incl. 8.50% tax)
Total @ end of lease - $25.274.44
Any advice/help would be greatly appreciated!
Thanks,
Eric
If the car proves to be reasonably reliable & not one of the horror stories one hears about, buying it out at the end of the lease may not be all bad. Also, in my case, I'd really like a diesel 3-series, but doubt that any such will be avilable for at least a couple of years, and they may be hard to negotiate on for some initial period as well. Leasing for 3 years would give me the opportunity to enjoy a BMW for a very competitive monthly fee while I wait for the car I'd buy and hold for years, as I have my present vehicle.
Now, if it were possible to negotiate a buyout at less than the stated residual, it'd be a no-brainer, but from what I've heard, it never happens. I've never come to grips with how BMW is able to lease based on a residual that isn't supported by the market when it comes time for them to sell the off-lease unit. Looks a bit like a house of cards to me. Oh well, it obviously works for them.