BMW 3-Series Lease Questions

jamesa4

FWIW, my final deal came out to be $456/month including CA state tax. The reason it went up is because I couldn't find the exact car I wanted, so I had to take one with the comfort access/keyless entry option included.

12k mi/36 month lease
automatic
premium pkg
value pkg
navigation
comfort access/keyless entry

refundable security deposits and about $1000 in fees. I'm happy with these terms.

absolsp

As posted earlier, I finally got the deal to my liking. Similar to jamesa4, I had to tack on extra options

328i RWD Sedan
Space Gray
automatic
premium pkg
value pkg
navigation
satellite radio
12K/36 month lease

Final numbers are
MSRP: $41,050.00
Lease Term: 36 Months
Mileage Allowance Per Year: 12,000
Residual Percentage: 63%
Lease-end Value: $25,861.50
Initial Cap Cost: $38,079.25
Bank Fee: $725
Adjusted Cap Cost: $38,804.25
Money Factor: 0.00081
Base Monthly Payment: $411.90
Monthly Use Tax: $38.10
Total Monthly Payment: $450.00
Security Deposit: $3,150.00 ( 7 x $450) (fully refundable at the end of lease)
Doc Fee: $45.00
Total Annual Fees: $528.75 (Registration and title)
Total Amount Due At Lease Signing: $4,173.75

I will be getting the car in a week or two.

jamesa4

Sounds like a great deal - congrats! Mine comes with sat radio, too, so that must be part of one of the packages. The only thing I thought I should get that I didn't was the upgrades sound system. I've heard the standard speakers aren't very good.

jjlawyer2

i think your deal would be better if you did a cap cost reduction of about 360, then your payment would be under 400 and your msd deposit would be reduced by 350

absolsp

I could not go lower than that in the cap reduction. The dealers is already selling the car for roughly $240 below the invoice price (invoice is $38320). I tried and decided it was the best deal I could get at this point.

seekingaudia4

Where are you guys located? I could not get the dealers to go $200 below, only $500 over invoice.

I think he was saying had you put some more cash down to lower the monthly payment to below $400, you could have reduced the amount of MSDs you had to put down by $350 since the SD is the monthly payment to the eariest $50.

absolsp

I am in San Jose (Bay Area).. I did Costco and TrueCar dealership network and best I got was invoice + 550.

Finally got the internet sales manager in one dealership to agree for invoice - 250 for the lease, had to fight for the Money factor too.

jamesa4

I'm in Los Angeles.

seekingaudia4

I am in Nocal, I think I might just do $500 over. I have a good friend in Socal, he always gets better deals than I do. Several times in the past I thought about using one of our vacation trips down south, let him show me around and buy a car then drive back, never worked out the logistics.

The dealer I am working with happens to have the only car with the exact color/options I want, I also test drove no less than 5 different BMWs at this dealer in the last 6 months. I know, I am just trying to justify giving them the extra money:-)

jjlawyer2

I am saying you put down 360 or so, so that your payment is below 400, then your security deposit is 400 instead of 450 and BMW will be holdiong less of your money. The selling price is not changing, you are putting the money down

jrz

What should I be paying for a lease if the negotiated price on my 2011 328i coupe for 36 months 12k mi and not putting any money down. I was told my fees and security deposit would be about 2000.

jrz

I am ordering a 2011 328i coupe with no options except automatic. The MSRP incl destination is 38450. I negotiated 37000 incl destination. Is this a good deal? I want to lease for 36 mos/12k. with no money down. I was quoted 526/mo. That sounds high. The dealer wants 700 security deposit, first month payment, and fees totalling 2000. He wants a 2000 deposit to hold until the car arrives ( 4 weeks) as it is a special order and unusual to only have automatic and no other options. I am new to leasing. Please advice.

coachcap

2011 BMW 328i - including Prem, Sport, Nav, and paddle shifters.

MSRP 42300
Purchase Price 39550 (invoice) + 725 Bank Fee (?) = 40275
36 month
15000 miles
Res 61% = 25807
MF= .00145 (this is what the dealer is saying even though the chart says .0013)
Drive off = 1145 - includes 1st month lease payment and 538 Regist
No additional SD's
Monthly payment = 488 plus local tax

I think he is inflating the MF to .00145. Not sure about Bank Fee?

Is this a good deal? Should try and negotiate further? End of the month strategy?

If you pay upfront SDs to buy down your MF is it fully refundable? Even if you total the car?

Thanks!

seekingaudia4

Finally took delivery of a 328i, could not get it below $500 over invoice, but got the "autoguard" included, it is basically a $500 insurance so you can walk away at the end of the lease as long as any single wear and tear item is less than $500 to repair, also you can run your tires bald, no penalty.

But the first day I noticed the car slipping out of the lanes during fast looping on freeway ramps. I did not drive so hard during test drives. Immediately started reading on the runflats, noticed a lot of people replaced their runflats with a specific brand of conventional performance tires, got better tire grip, less noise and more comfortable ride.

I went to my local discount tire store, replaced my new continental runflats with the Hancook V12s, cost $570 for the four new tires including installation and lifetime rotate/balance/repair. Also bought a custom rim for $100 had them put one of the runflats on as spare, stored the other three runflats away.

The tire grip was instantly back on the loops, the noise level is down a bit, the ride is also a little more comfortable. The only unkown is the tread life but even if I have to replace them twice, it will still cost less than replacing one set of those runflats.

The only downside is, that "autoguard" deal is a waste, now that I plan to put the new runflats back on the car before the end of lease return. The other thing is, as I explained before, I decided to go without the sport package due to harsh ride during the test drive. Had I known the new tires could improve the ride, would have gone with the SP and the family might be able to tolerate the ride. I do miss the tight suspension.

But without the SP, the 328i is still a thrill to drive every time, so much so the wife is now almost taking over my car any chance she has, and she does not even use the sport and manual shift modes like I do

jamesa4

Thanks for the info. I'm planning to do the same with the run flats. Where did you get the custom rim for $100?

seekingaudia4

Discount Tire, sometimes called American Tire Company. Not the kind of custom rim I would put on any of my cars, but sure beats any donut spare

CarMan@Edmunds

Hello kball2. BMW Financial Services' August buy rate lease money factor and residual value for a 36 month lease of a 2011 335i Sedan with 10,000 miles per year are .00145 and 62%, respectively for consumers who qualify for its top credit tiers.

The numbers for an otherwise identical lease of an '11 335i Coupe are .00195 and 64%.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi mreinhorn. There's several websites out there that help consumers find someone to assume their leases, such as swapalease.com.

BMW Financial Services does allow lease transfers, as long as you are not in the final three months of your deal...which you're not. BMW FS does have some fees that it charges on this sort of transaction, $500 total. This consists of a $400 transfer fee and $100 for a credit check on the person who is assuming the lease.

Unfortunately, you may find that you have a hard time finding someone to assume your lease unless you sweeten your deal a little. That is often the case with this sort of transaction.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi jrz. The dealer invoice price of the car that you described is $35,485. A selling price of $37,000 is around $1,500 over invoice. That's not terrible, but if you are in an area that has a lot of competition and you have the time there's a decent change that you will be able to beat this price by several hundred dollars.

Of course, the fact that you are special ordering a fairly stripped vehicle might be working against you to some degree. Dealers are usually willing to cut better deals on units that they already have on their lots than on ones that they have to order.

By the way, when negotiating your deal, make sure that the dealer uses BMW FS' buy rate lease money factor to calculate your payment. Its current buy rate for a 36 month lease of this car is .00185 for consumers who qualify for its top credit tier. You can lock this program in now and then use either it or the program that is available when you physically take delivery of your new car, whichever is better.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

jamesa4

Does anyone know if the September BMW numbers are out yet? I have a 328i sedan on order and I'll get the benefit of the better deal if the numbers are better this month. Thanks!

chewy2

Does anyone know who is responsible for maintenance on leased BMWs? The lessor or the lessee? Are cars just off lease usually well-maintained?

Thanks!!

kyfdx

All new BMWs come with maintenance included for the first 4yrs/50K miles... Since it is no charge, and the lessee gets dinged for not having it done, virtually every BMW off lease has had all maintenance completed on schedule...

jamesa4

Interesting. How does a lessee get dinged for not doing the maintenance? I guess what I'm wondering is how would BMW know if you changed the oil yourself rather than bringing it into the dealer? Or are you saying that a lessee must use the dealer for scheduled maintenance? Thanks for the info.

CarMan@Edmunds

Hi jamesa4. BMW extended its August lease program without any changes through the end of September.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

I don't see why anyone would change the oil in their BMW themselves when the BMW dealer will do it for them for free for the length of their lease.

While lessees are technically supposed to perform maintenance on their vehicles, I've never heard of an instance where a lessee was charged a fine for not doing so.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

jamesa4

Thanks for both responses, Car man!

chewy2

As near as I can tell, all the BMW dealers are connected, so any dealer can look up your VIN and see the record of what has been done by any BMW dealer. I do not know about being dinged, but a lessor could use the same sort of system to check up on a lessee.

One BMW owner who purchased the extended warranty (not the same as the CPO thing) told me the warranty was void if the owner had maintenance performed anywhere other than a BMW dealer. This was "straight from the horse's (dealers) mouth." So BMW really likes to maintain control over everything.

coachcap

I pulled the trigger on Aug 31st at 8PM. Here is the deal:

2011 BMW 328i - including Prem, Sport, Nav, Paddle Shifters and Xeon

MSRP 43200
Purchase Price 40450 (invoice) + 725 Bank Fee = 41175
36 month
15000 miles
Res 61% = 25807
MF= .0013
Drive off = 1145 - includes 1st month lease payment, 538 Regist and tax
No SD
Monthly payment = 498 plus local tax

CarMan@Edmunds

You're very welcome, jamesa4.

Of course, BMW has now changed its mind . Right after it sent out a bulletin to dealers stating that it was extending its August programs through the 30th it sent out another bulletin with changes.

The numbers for the 328i Sedan are the same, but there was a number of changes for other models. I just wanted to mention that to avoid any confusion.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

kball2

Do you have the new numbers (September MF and Residual %) for a 2011 335i sedan for a 36 month 10k mile lease?

jamesa4

Her Car man, can you tell me if the September #s for the 335i sedan are more favorable for buyers than the August #s? Thanks!

pellynh

Before I begin, thanks Car_Man for the invaluable info here! You've been a huge resource and greatly appreciated!

About to go lease a new BMW tomorrow (Labor Day) to replace the Z4 I just turned in off another lease this August.

Looking at a 2011 328i convertible for 36mo/15k. (would consider 335i as well depending on price)

Aug was a great month with 63% and a .0018 MF. Did BMW change these for Sept?

Also, do I get any type of "loyalty" discount since I am leasing another BMW again?

Any info you can provide is greatly appreciated!

prince13

I'm in the market for a 328xi coupe and live in CT. I talked to a dealer today who said the residuals published last Friday were 65% and money factor of .0016. Does this sound right?

sham819

Hi Car_Man,

Could you provide Residual and MF for both a 2011 328 AWD sedan with premium package w/navi as well as a 2011 335 AWD sedan with premium w/navi? Thanks!

houstonbmwbear

This is what the dealer offered me for the below on Labor Day: $49828

MSRP $51850
Metallic black paint, sports package, premium package, sports paddles, comfort access, heated front seats

Invoice $47765 ($2063 below negotiated price)

How hard would it be to haggle them down to $48,500?

Kirstie_H

A reporter seeks to interview someone who is planning to lease a car in the near future, or recently got into a lease. Please respond to pr@edmunds.com by Sept 16, 2010 with your daytime phone number and some words about your experience.
Thanks,
Jeannine Fallon
Corporate Communications
Edmunds.com

CarMan@Edmunds

I sure do, kball2.

BMW Financial Services' September buy rate lease money factor and residual value for a 36 month lease of a 2011 335i Sedan with 10,000 miles per year are .00145 and 62%, respectively for consumers who qualify for its top credit tiers.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hey jamesa4. Please see my previous post for the information that you're looking for.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

You're very welcome, pellynh. Thank you for the kind words.

BMW Financial Services' September buy rate lease money factor and residual value for a 36 month lease of a 2011 328i Convertible with 15,000 miles per year are .00170 and 63%, respectively for consumers who qualify for its top credit tier.

BMW is not currently providing any owner loyalty cash incentives on this car that I am aware of.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi prince13. The numbers that you were quoted for this car are right on the money for a 36 month lease with 10,000 miles per year.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi sham819. Here's the information that you're looking for.

BMW Financial Services' September buy rate lease money factor and residual value for a 36 month lease of a 2011 328i AWD Sedan with 15,000 miles per year are .00125 and 61%, respectively for consumers who qualify for its top credit tiers.

The numbers for an otherwise identical lease of a 2011 335i AWD Sedan are .00160 and 59%.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

ckool

Hi

which dealership you went? I'm in the process of getting the same vehcile as you

Thanks a lot

farkle96

Car_man, you seem to be really on top of this. I am a top tier credit. What money factor and residual should I get on a 2011 740i? I am being quoted .00250 which seems absurdly high and a 55% residual after 3 years of 15K miles per year.

Farkle 96

absolsp

I went to Stevens Creek BMW in San Jose, CA

CarMan@Edmunds

Thanks farkle96. This particular discussion is for consumers to discuss leasing the BMW 3-Series. I'll answer your "7" question here for now, but please post any other messages about it over in the 7-Series discussions. Thanks.

BMW Financial Services' September buy rate lease money factor and residual value for a 36 month lease of a 2011 740i with 15,000 miles per year are .00210 and 55%, respectively for consumers who qualify for its top credit tiers.

As you can see, the residual value that you were quoted is right on the money, but the money factor is slightly high. Try to get the dealer to use the buy rate to calculate your car's payment if possible.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

ckool

Hi Carman:

Received the folloing from local dealer:
2011 328I auto + premium
MSRP: $38050
Sell: $35670 + tax n lic
with 1500 drive off
monthly payment $424 + tax = 465
36 month / 12000 miles a year. residual is 63%
MF: .00130

I was asking to see if I can put down SD to buy down the MF, the replied is "no
-because security deposit is wavied as a special for 328 sedan"....is it the truth? or they just BS.

Please advise.

Thanks a lot

ak64

Hi,
Does anybody know the current MF/residual for 2011 BMW 328 AWD Wagon ?

CarMan@Edmunds

That's a very good question, ckung. BMW is running special zero down leases on the 3-Series this month, so I can see where the dealer is coming from. Perhaps on cannot do MSDs in conjunction with this program. I don't see why the dealer would lie about this, they don't lose anything by allowing you to make extra deposits.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi ak64. Here's the information that you're looking for. BMW Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2011 328i Wagon AWD with 15,000 miles per year are .00190 and 58%, respectively for consumers who qualify for its top credit tiers.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

jamesa4

Car man got this one wrong (even he can be wrong once in a while!). I did the zero down lease with the SDs.