You will come out ahead by making the security deposit, without fail...
With the bumped-up money factor, you needing 18K miles/yr, and the high sales tax on leases in Texas.... I think you'd be better off buying this car...
If leasing, make the security deposit, but a fair payment would be about $40/mo. less....
kyfdx, Yes I am paying all sales tax up front. I am not sure what money factor/residual value they are using to calculate the monthly payment, but using the MSRP ($36545), what would you consider to be a good deal on this car including actual sales price, monthly payment, and residual value. What does that translate into for a monthly payment. I would like to know how much room for negotiation I have with the dealer.
I am looking at either a 24 or 36 month lease, with 15K miles per year. The dealer is offering me the same monthly payment on either the 24 or 36 month lease. He is currently at $515 per month.
Also, I will probably drive close to 18K miles per year, but was told by the dealer that I can purchase miles later at a penny more per mile than if I include them at signing (15 cents per mile instead of 14 cents). I am willing to wait and pay the extra penny later, but are there any negatives to doing this?
I think somewhere in the $480-$490 per month range would be decent..
Your dealer is correct about the extra mileage... but, I think the numbers are $0.15 and $0.16, instead of $0.14 and $0.15... I don't see any negative in waiting, as long as you don't have a problem paying in a lump sum... That way, you don't pay for any miles you don't use..
You don't say what mileage allowance you need, so we'll assume 15K/yr...
Also, it is now December... I don't have those numbers yet.. so, I'll give you November as an example... it is very possible that the numbers have changed..
The lease payment would be about $508/mo.+tax, with 1st payment, security deposit, acquisition fee ($625) and lic/reg. due at signing.
Tax is likely to be different on a lease, than a purchase, so I didn't add it in... In most states, it would be payment X tax rate on a monthly basis.
That looks like a great selling price... the example lease payment I gave, is assuming they use the base money factor...
I just received this quote on an '06 325I demo with 6928 miles on it, auto, sun roof, leather, wood.
"If you lease this car for 12,000 miles per year it will lease out for $399 per month. Coming up with your first payment, Refundable Security deposit ($400), BMW Bank fee ($625) and plus the DMV/Registration fees."
Does this look good, also, what should the DMV/Reg fees be?
I was quoted a selling price of $31,215 on the following 2006 325i -Jet black/ black leatherette interior -Steptronic 6-speed automatic -Satellite Radio Prep -includes destination charge of 695....
Is that a good deal?
In addition, I am looking for a 24 or 36 mo. lease with 12k miles/year. What money factor and residual value should I be looking at? Would you mind please telling me what my pre-tax monthly payments would be, assuming I don't make a down payment?
Thanks for the fast response Kyfdx. I dont think im going to need 15k year (12k) but do you think I can get a better deal now in Dec since its the end of the year?
I think the money factor is a little to high (.00367 with my calculation).
BMW Financial won't accept a lease contract for a MF that high, so it's either a mistake by the dealer (which would bounce back from BMWFS and be corrected in your favor) or a mistake in your calculation...
Using an MSRP of $38,645 (correct?), and a money factor of .00265, and residual of 64%, I get about $6/mo. less than your figures...
$1800 due at signing: 1st payment, $625 acquisition fee.. plus what else? If there is a security deposit in there, then the money factor is bumped up slightly... If no secuirty deposit, then $600 seems like a lot for license and registration...
So.. a decent deal.. maybe about $500 too high overall..
Okay.. not too bad.. The acquisition fee is marked up by $200... I didn't think about the sales tax on the acquisition fee.. And.. as stated before, my calculations come up about $6/mo. lower than what they quoted you...they might have something added into the cap cost... though, I'm not sure what it would be...
Doesn't look like any other extra "garbage" fees in there, and you got a nice discount from MSRP..
So.. overall.. a decent deal... I'd try to get them to drop the acquistion fee to the base number ($625)...
Thanks allot kyfdx! I talked to the dealer and he gave me a price of $497.06 and with tax $538,07. It looks like a decent deal but I want the best deal possible. I gonna try to negotiate and get the price down a little more.
It looks very good... If you check your numbers, you'll see that the acquisition fee is probably $825..
The only extras I see are the bumped up money factor ($625 is the base fee), and the $98 dealer fee.. But, considering they knocked $2500 off the selling price, this is still a great deal..
The only change I would make? Make a $500 security deposit, and the money factor drops to .0025... This will take the payment down to $491.13, and you'll get that $500 back at the end of the lease..
kyfdx, I checked the worksheet again and the aquisition fee is $725. But along with the $98 dealer fee, it adds up to $825. Does this sound ok?
What do you mean by "the bumped up money factor ($625 is the base fee)"? I thought the money factor is just a percentage rate. Is there a fee associated with the money factor?
Also, the dealer has "waived" the security deposit so long as I have a high enough beacon score. If this is the case, will your suggestion of paying the security deposit up-front still apply? If it still does, please explain to me how it would lower the payment so that I can understand and explain to the dealer what I am trying to accomplish.
That was a mistake... I didn't mean "money factor", I meant "acquisition fee".. The base acquistion fee is $625.. BMWFS allows them to mark it up to $825..
I assumed that your acquisition fee was $825, not $725, because of the numbers you provided:
If you check them, you'll see that doesn't add up... and typically, dealers will mark up the acquisition fee the maximum amount.
As far as the security deposit? Unless you are a returning BMWFS customer, there is a money factor addition for waiving the security deposit.. It is .00015.. Since the base money factor for this lease is .0025, and you are being charged .00265, it is a pretty good bet that is why..
All BMWFS leases are pass/fail on credit.. If you qualify, you qualify.. Great credit won't get your security deposit waived.
I notice your selling price is an odd amount, and that your payment is just pennies below $500/mo.. When I see that, it usually means the dealer thinks he needs to get below a certain monthly payment to make the deal, or the buyer has told him that they need to be "below $500 per month". Not making a security deposit lowers upfront costs, and sometimes helps sell a deal.. While your dealer is not accurate about why you aren't paying a security deposit, it isn't gaining him anything.. Maybe he has a deal, and doesn't want to take a chance on losing it, by bringing up other options..
All of my advice about making the security deposit and getting the lower money factor still stands.. I'm pretty confident in the numbers, because other than that $100 addition mistake, my numbers agree with their numbers to the penny.
I'm a complete dummy as far as leases go and I'm trying to lease a 325i.. here's the configuration 2006 alpine white 325i stock with manual and no other options. Basically a barebones bimmer and here's the quote I got.. term 24 months/24k MSRP = 31670 sell price = 29750 Residual 74% = 24384 mf= 0.0027( quoted was 0.00285 but when offerred a 500 security deposit came down to 0.0027) Bank rate = 825 Total out of pocket at drive off = 1293
Is this a good deal or am I getting ripped off? Please help me out..
Hi kyfdx, Thanks for all your insight. I requested quotes through Costco.com and got one very close to what you described. So I called up my dealer and he matched right away (or I was going to walk away from my $500 deposit). Now I am not trading in any more (I sold my used car to private party for $10000 vs $7000 to dealer BTW). $2500 at signing (includes $320 down, $550 security deposit, fees, etc.) and monthly payment is $538.
Hi jmax1. Consumers are free to lease any vehicle that they want without making any sort of capitalized cost reduction. As you mentioned in your post, you can lease only paying your car's first month's payment, security deposit, BMW FS' lease acquisition fee, and any required state taxes or fees at signing. I'm not sure what you mean by saying "How do you not put more money down?" Just don't do it . BMW's advertised lease payments for the 3-Series assume that consumers make a $2,500 capitalized cost reduction. If you opt not to make a $2,500 down payment, your car's monthly payment would be higher than the one in the ad.
I'd be happy to give you an idea of what BMW's lease program for the 2006 330i is like this month, casio. However, in order for me to do so I need you to tell me how long you want to lease it for and how many miles per year you need to be able to drive it.
Whether or not the deposit you make on your ordered vehicle is refundable is completely between you and the individual dealer that you are ordering through. Make sure to get them to give you a receipt for your deposit that states it is completely refundable for any reason just to cover yourself. Also, you may want to consider making your deposit with your credit card rather than paying cash or writing a check. That way, if you ever do have trouble getting it back you can always dispute the charge with your credit card company. I have seen tons of cases where dealers either drag their feet or just flat out refuse to refund supposedly completely refundable deposits.
I'm a complete dummy as far as leases go and I'm trying to lease a 325i.. here's the configuration 2006 alpine white 325i stock with manual and no other options. Basically a barebones bimmer and here's the quote I got.. term 24 months/24k MSRP = 31670 sell price = 29750 Residual 74% = 24384 mf= 0.0027( quoted was 0.00285 but when offerred a 500 security deposit came down to 0.0027) Bank rate = 825 Monthly Payment = 453 Total out of pocket at drive off = 1293
Is this a good deal or am I getting ripped off? Please help me out..
I ordered a 325i on November 2 and was told that when the car is delivered (expected in December) if December's leasing deals are better than what I obtained in November, they will give me the better deal. Do you know if the leasing rates/deals have improved since November?
I will be leasing (when car is delivered - soon I hope!!)a 2006 325i for 36 months with 18k miles/year.
I need to return my 03-330i and I had a few questions since I have never returned a lease before.
I think the car is perfect, but when I make my appointment if there are any issues, do they come to me with the information so I can make the choice of having them fix it or go to someone else? Or am I because I returned it obligated to letting them fix any issues?
My one concern is a very small mark on the windshield from a rock. I know my insurance would cover it but it is really small. If they make a big deal about it I just want to know if I then have a chance to get it fixed or do I have to pay them. Finally, anyone know how much that would cost if I did let BMW deal with it?
So what does the December lease program look like? Same as november? Starting to negiotiate a '06 330i for 36 months/15k miles and want to make sure it's all the same.
I am doing a lease on a 325i. I am not done with the deal yet but I found out the Money Factor is 0.00305. I think this a kind of high. What do you think?
Hi chrisaz. You never mentioned how long you want to lease this car for so for now I will assume that you want a 24 month lease. This is probably the most attractive term for this car right now. If you were to lease a 2006 BMW 325i through BMW Financial Services right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00250 and 74%, respectively. BMW is not currently providing any sort of dealer cash on this car.
Hello. I am considering the lease of either a 330xi or an X3. Would you please provide the money factors and residuals for 24 and 36 months leases (15K miles) for each?
Car_man, Kyfdx, I gather BMWFS haven't released the December lease programs yet - are they expected this week sometime?
I am currently locked in at November's rates: 2006 330i, 36mo, 36Kmi, 64%, 0.00195.
I need to originate the lease for this car tomorrow (12/08). Is there any way to find out if December's rates have improved at all before tomorrow? Thanks! Jon
I am looking for a 36 month lease for either 10k or 12 k a year.
I am getting the following:
MSRP: $43900 Selling Price: $41,300 Zero Down 36 month/10k year: $578 per month (includes CA tax) with drive-off of $1544.33
They are giving me MF of .00215
I think the selling price is good, but the markup on the money factor (.0002) is too high. My wife is getting similar selling prices for the same optioned car at base MF (for Nov that was 0.00195). I have put down $1000 in deposit which I had assumed was refundable but no discussion was made about refundability between dealer and I.
I want to either negotiate down the MF or walk from the deal and get my deposit back.
No tips really.. I'd just tell the dealer that the monthly payment is way too high, and that if they don't use the base money factor, you'll shop around and find someone that will...
Sometimes this works.... sometimes you have to shop around...
Have the December Lease Numbers (MF, Residuals, etc.) been announced/published?
It looks like several people have inquired about this already, and forgive me if it's been answered, but I couldn't find the answer . . .
The numbers I want are for a 2006 330i Sedan, for 36 months, 12k miles/year. I searched the internet and saw the following November numbers, along with a comment that they were going to be the same for December, but I want to confirm that information before talking to the dealer.
Residual Value - 64% Money Factor (Base Rate) - .00195
Comments
With the bumped-up money factor, you needing 18K miles/yr, and the high sales tax on leases in Texas.... I think you'd be better off buying this car...
If leasing, make the security deposit, but a fair payment would be about $40/mo. less....
regards,
kyfdx
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Yes I am paying all sales tax up front. I am not sure what money factor/residual value they are using to calculate the monthly payment, but using the MSRP ($36545), what would you consider to be a good deal on this car including actual sales price, monthly payment, and residual value. What does that translate into for a monthly payment. I would like to know how much room for negotiation I have with the dealer.
I am looking at either a 24 or 36 month lease, with 15K miles per year. The dealer is offering me the same monthly payment on either the 24 or 36 month lease. He is currently at $515 per month.
Also, I will probably drive close to 18K miles per year, but was told by the dealer that I can purchase miles later at a penny more per mile than if I include them at signing (15 cents per mile instead of 14 cents). I am willing to wait and pay the extra penny later, but are there any negatives to doing this?
Thanks for your help.
-V
Your dealer is correct about the extra mileage... but, I think the numbers are $0.15 and $0.16, instead of $0.14 and $0.15... I don't see any negative in waiting, as long as you don't have a problem paying in a lump sum... That way, you don't pay for any miles you don't use..
regards,
kyfdx
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Im new to this forum and need a little help.
I have got a quote from a dealer with these options
06 325i Alphine white with Beige interior color
MSRP $30,300
Sept 2006 price adjustment?? $600
Steptronic 6 Speed automatic Trans. $1,275
Premieum Package $2,900
Xenon Adaptive Headlights $800
Navigation System $2000
Satallite Radio Preparation $75
Destination and Handling $695
Total MSRP $38,645
Selling Price $36,765
Documents Fee $45
Sales Tax (8.25%) 3,036.83
License & Reg. $308.75
Total $40,155.58
Now I want to know if thats a good deal and how much do you think the estimate Montly payment would be with a 36 month lease 0 down?
Also, it is now December... I don't have those numbers yet.. so, I'll give you November as an example... it is very possible that the numbers have changed..
The lease payment would be about $508/mo.+tax, with 1st payment, security deposit, acquisition fee ($625) and lic/reg. due at signing.
Tax is likely to be different on a lease, than a purchase, so I didn't add it in... In most states, it would be payment X tax rate on a monthly basis.
That looks like a great selling price... the example lease payment I gave, is assuming they use the base money factor...
regards,
kyfdx
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I just received this quote on an '06 325I demo with 6928 miles on it, auto, sun roof, leather, wood.
"If you lease this car for 12,000 miles per year it will lease out for $399 per month. Coming up with your first payment, Refundable Security deposit ($400), BMW Bank fee ($625) and plus the DMV/Registration fees."
Does this look good, also, what should the DMV/Reg fees be?
Thanks a lot!
I was quoted a selling price of $31,215 on the following 2006 325i
-Jet black/ black leatherette interior
-Steptronic 6-speed automatic
-Satellite Radio Prep
-includes destination charge of 695....
Is that a good deal?
In addition, I am looking for a 24 or 36 mo. lease with 12k miles/year. What money factor and residual value should I be looking at? Would you mind please telling me what my pre-tax monthly payments would be, assuming I don't make a down payment?
Thanks!
But, almost every 325i comes with automatic, sunroof and wood... Is this a car that MSRPs for $36000, or $38,000...
Either way, $399/mo. looks fairly cheap, assuming 36 months, and only $1500 or so at lease signing...
DMV/reg fees will vary by state.. your dealer should be able to estimate them within a few dollars..
regards,
kyfdx
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The 3yr/36K residual is 64% and the base money factor is .0025...
$431/mo.+tax.. with the acq.fee rolled in to the lease...
Upfront: 1st payment, security deposit, license/registration..
(November numbers.. haven't seen December, yet.. check back next week)
regards,
kyfdx
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$36,765 Selling Price
36 Months term
12k Year
Residual Value $24,732.80
Cash Due @ signing $1,800
Monthly Payment $503.31
Tax (8.25%) 41.52
Total Mo Payment $544.72
I think the money factor is a little to high (.00367 with my calculation).
What is the Money Factor for the 325i for the month of December?
BMW Financial won't accept a lease contract for a MF that high, so it's either a mistake by the dealer (which would bounce back from BMWFS and be corrected in your favor) or a mistake in your calculation...
Does anyone have the money factor and residuals for 10/12/15k on the 2006 330i?
Also, are deposits made to dealers to order a bmw refundable?
Thanks in advance!
$1800 due at signing: 1st payment, $625 acquisition fee.. plus what else? If there is a security deposit in there, then the money factor is bumped up slightly... If no secuirty deposit, then $600 seems like a lot for license and registration...
So.. a decent deal.. maybe about $500 too high overall..
regards,
kyfdx
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Capital Reduction $4.39
Cap Reduction Tax (8.25%) $72.14
License & Registration $308.75
Bank Fee $825.00
Documentation Fee $45.00
First Payment $538.07
Security Deposit $0.00
Drive Off $1,793.34
Doesn't look like any other extra "garbage" fees in there, and you got a nice discount from MSRP..
So.. overall.. a decent deal... I'd try to get them to drop the acquistion fee to the base number ($625)...
regards,
kyfdx
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I gonna try to negotiate and get the price down a little more.
I was able to get the lease worksheet from the dealer. Please let me know if this deal looks good:
MSRP - 37145
Selling Price - 34622.55
Aquisition Fee - 725
Total Selling Price - 35447.55
Money Factor - 2.65
Residual - 23029.90
Lease Term - 36 Months/15K per year
Monthly Payment - 499.90
I will be paying the following out of pocket at signing:
Tax - 1041.68 (VA)
Dealer Fee - 98
Tire Tax - 4
First Payment - 499.90
Total - 1643.58
Please let me know what you think.
Thanks,
V
The only extras I see are the bumped up money factor ($625 is the base fee), and the $98 dealer fee.. But, considering they knocked $2500 off the selling price, this is still a great deal..
The only change I would make? Make a $500 security deposit, and the money factor drops to .0025... This will take the payment down to $491.13, and you'll get that $500 back at the end of the lease..
regards,
kyfdx
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I checked the worksheet again and the aquisition fee is $725. But along with the $98 dealer fee, it adds up to $825. Does this sound ok?
What do you mean by "the bumped up money factor ($625 is the base fee)"? I thought the money factor is just a percentage rate. Is there a fee associated with the money factor?
Also, the dealer has "waived" the security deposit so long as I have a high enough beacon score. If this is the case, will your suggestion of paying the security deposit up-front still apply? If it still does, please explain to me how it would lower the payment so that I can understand and explain to the dealer what I am trying to accomplish.
Again, thanks for your help.
-V
I assumed that your acquisition fee was $825, not $725, because of the numbers you provided:
Selling Price - 34622.55
Aquisition Fee - 725
Total Selling Price - 35447.55
If you check them, you'll see that doesn't add up... and typically, dealers will mark up the acquisition fee the maximum amount.
As far as the security deposit? Unless you are a returning BMWFS customer, there is a money factor addition for waiving the security deposit.. It is .00015.. Since the base money factor for this lease is .0025, and you are being charged .00265, it is a pretty good bet that is why..
All BMWFS leases are pass/fail on credit.. If you qualify, you qualify.. Great credit won't get your security deposit waived.
I notice your selling price is an odd amount, and that your payment is just pennies below $500/mo.. When I see that, it usually means the dealer thinks he needs to get below a certain monthly payment to make the deal, or the buyer has told him that they need to be "below $500 per month". Not making a security deposit lowers upfront costs, and sometimes helps sell a deal..
While your dealer is not accurate about why you aren't paying a security deposit, it isn't gaining him anything.. Maybe he has a deal, and doesn't want to take a chance on losing it, by bringing up other options..
All of my advice about making the security deposit and getting the lower money factor still stands.. I'm pretty confident in the numbers, because other than that $100 addition mistake, my numbers agree with their numbers to the penny.
Either way... you've negotiated a very good deal.
regards,
kyfdx
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Thanks for any help
2006 alpine white 325i stock with manual and no other options. Basically a barebones bimmer and here's the quote I got..
term 24 months/24k
MSRP = 31670
sell price = 29750
Residual 74% = 24384
mf= 0.0027( quoted was 0.00285 but when offerred a 500 security deposit came down to 0.0027)
Bank rate = 825
Total out of pocket at drive off = 1293
Is this a good deal or am I getting ripped off? Please help me out..
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thanks for the help
Thanks for all your insight. I requested quotes through Costco.com and got one very close to what you described. So I called up my dealer and he matched right away (or I was going to walk away from my $500 deposit). Now I am not trading in any more (I sold my used car to private party for $10000 vs $7000 to dealer BTW). $2500 at signing (includes $320 down, $550 security deposit, fees, etc.) and monthly payment is $538.
Regards,
Sreev
Car_man
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Whether or not the deposit you make on your ordered vehicle is refundable is completely between you and the individual dealer that you are ordering through. Make sure to get them to give you a receipt for your deposit that states it is completely refundable for any reason just to cover yourself. Also, you may want to consider making your deposit with your credit card rather than paying cash or writing a check. That way, if you ever do have trouble getting it back you can always dispute the charge with your credit card company. I have seen tons of cases where dealers either drag their feet or just flat out refuse to refund supposedly completely refundable deposits.
Car_man
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2006 alpine white 325i stock with manual and no other options. Basically a barebones bimmer and here's the quote I got..
term 24 months/24k
MSRP = 31670
sell price = 29750
Residual 74% = 24384
mf= 0.0027( quoted was 0.00285 but when offerred a 500 security deposit came down to 0.0027)
Bank rate = 825
Monthly Payment = 453
Total out of pocket at drive off = 1293
Is this a good deal or am I getting ripped off? Please help me out..
Do you know if the leasing rates/deals have improved since November?
I will be leasing (when car is delivered - soon I hope!!)a 2006 325i for 36 months with 18k miles/year.
Thanks!
Can I ask how you liked using the costco service? Did it give you a good price? Also did they help with he lease deal?
Thanks
Chris
I think the car is perfect, but when I make my appointment if there are any issues, do they come to me with the information so I can make the choice of having them fix it or go to someone else? Or am I because I returned it obligated to letting them fix any issues?
My one concern is a very small mark on the windshield from a rock. I know my insurance would cover it but it is really small. If they make a big deal about it I just want to know if I then have a chance to get it fixed or do I have to pay them. Finally, anyone know how much that would cost if I did let BMW deal with it?
Thanks for all the help
KA
Think about this way: If you were buying the car from someone, would you want a car with a chip in the windshield?
money factor of .0025?
Residual still 62%?
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Thanks for your help.
I gather BMWFS haven't released the December lease programs yet - are they expected this week sometime?
I am currently locked in at November's rates: 2006 330i, 36mo, 36Kmi, 64%, 0.00195.
I need to originate the lease for this car tomorrow (12/08). Is there any way to find out if December's rates have improved at all before tomorrow?
Thanks!
Jon
I am looking for a 36 month lease for either 10k or 12 k a year.
I am getting the following:
MSRP: $43900
Selling Price: $41,300
Zero Down 36 month/10k year: $578 per month (includes CA tax) with drive-off of $1544.33
They are giving me MF of .00215
I think the selling price is good, but the markup on the money factor (.0002) is too high. My wife is getting similar selling prices for the same optioned car at base MF (for Nov that was 0.00195). I have put down $1000 in deposit which I had assumed was refundable but no discussion was made about refundability between dealer and I.
I want to either negotiate down the MF or walk from the deal and get my deposit back.
What do you think?
Thanks Car_man!
24 months/15k = .00250 and 74%
36 months/15k = .00250 and 62%
Thanks again for the help!!!
Sparkling Graphite
Premium
Automatic
Sat Radio Prep
MSRP 36320
Net Cap = 35625 (includes 625 acq. fee)
$2001 down (Reg, 500 sec dep, 1st month pmt, 259 doc)
62% residual
.00295 MF
36 mo/15k
$591+tax per month
MF seems awfully high, as does the bs doc fee. Can anyone share their thoughts?
Thanks
I got a quote for
Premium
Auto
Navi
Xenon
Sat Prep for $36400 (MSRP $38645)
2.50 MF
36
513.19 WITH TAX.
0 Down and 2000 due at signing.
Then..even with all that... I come up with $536/mo. + tax..
$591+tax cannot be right.... run away from this deal..
regards,
kyfdx
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Thanks
Chris
Sometimes this works.... sometimes you have to shop around...
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It looks like several people have inquired about this already, and forgive me if it's been answered, but I couldn't find the answer . . .
The numbers I want are for a 2006 330i Sedan, for 36 months, 12k miles/year. I searched the internet and saw the following November numbers, along with a comment that they were going to be the same for December, but I want to confirm that information before talking to the dealer.
Residual Value - 64%
Money Factor (Base Rate) - .00195
Are those numbers correct?
Thanks for any help.
Jim
regards,
kyfdx
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