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BACKGROUND. I ordered, but didn't specify automatic transmission; Car arrived early Dec with manual. I felt dealership should have queried. I assumed automatic was default. In any case, dealer re-ordered right away. BMW national, as usual, not particularly helpful. (I've had two prior BMWs.) I'm hopeful vehicle will arrive by end of Jan. MF in Dec had dropped from 230 to 225; I'm hopeful Jan MF will be a bit lower. I've had to deal with major inconvenience and rental costs and could use a money break. At least
BMW Financial Services' January buy rate lease money factor and residual value for a 36 month lease of a 2011 535i Sedan with 15,000 miles per year are .00175 and 56%, respectively.
This car's money factor drops to .00145 for loyal customers.
If you were to lease with only 12,000 miles per year, its residual values would be 2% higher.
Car_man
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Here's my situation -- I ordered a vehicle in Dec to get the $1500 credit.
The MF then was 225, with multiple deposits 176.
Now, you say its 175, and 145 for loyal customers.
Questions:
(1) My understanding is you get the MF in effect when you ordered the car, or when it arrives, whichever is lower. Correct?
(2) Does that loyalty apply to me, since this is my third BMW, and I just came out of a BMW lease in October? If so, does that mean, if I get the car in Jan, with mulitple deposits, I would be down to MF of 96???
(3) I was told I would still be eligible for the $1500 credit because the car was ORDERED in Dec. Right?
Now, if that car goes is arrival/delivery to me into Feb, I can only hope the Feb MF stays the same or goes lower, and doesn't increase from Jan to Feb.
All this helps -- because of rental car and related expenses I'm incurring while waiting for the BMW.
You are correct, you should be able to take advantage of either lease program, the one that you locked in or the one that is available when you take delivery of your car...whichever is better.
There is a very good chance that you would be eligible for the loyalty offer, as someone who was leasing a BMW just a couple of months ago. you really need to check with the dealer to be certain that this is the case though.
As long as you use the December money factors and residual values, I believe that you will still be eligible for the $1,500 cash incentive.
Car_man
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You have me a bit concerned and confused.
The $1500 incentive was for 535i ordered in Dec.
So, that should be locked in,.
But when the car arrives -- in Jan or Feb, I should be eligible for the MF in effect in Jan or Feb.
After all, consider the alternative. Suppose I was just BUYING the car I ordered in Dec-- I'd still get the $1500 incentive when the car arrived in Jan or Feb. The fact that I'm leasing should entitle me to the MF (and loyalty MF) in effect when the car comes.
Right?
You are correct that if the current January program with its money factors are better for you that you can select that one. But that means you give up the December program which happened to have $1500 holiday cash. You need to figure out which one works best for you.
Good Luck with whatever you decide.
If you want to use the January or February program, those don't come with the cash...
regards,
kyfdx
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The dealer told me:
(1) I'm eligible for the $1500 cash back because I ordered the car in December.
AND
(2) My MF would be the lowest of when I ordered, or when the car came in.
The first car I ordered came in with stick shift. I did not specify automatic (or stick) and was surprised when it came in. The dealer rushed a new order, but after a quick burst of production, the vehicle languished during an extended Christmas season slowdown. I've incurred lots of waiting and car rental expense.
I do not understand how they can link the $1500 cash bank, which was tied to my order, with the MF when it comes in, particularly, since this is contrary to the way the deal was laid out.
I guess I'll just have to challenge it.
But with BMW it's hard to win.
This is my third BMW and probably the last.
I like my dealership and sales rep, but BMW national has not been helpful on a variety of matters with my prior vehicles, and it was not an easy call to go with BMW again. It's the only brand that has not honored a loaner policy, even with warranty problems, but made it a dealer-decision. I had other problems I won't enumerate.
So, if BMW sustains the dealer reversal on this money stuff, that may be my final frustration.
Thank you for your kindness in providing your perspective.
I honestly think that reasoning would make more sense for cars in stock, because I was always told in the past that if I ordered, it would be the MF at time of order or time of delivery.
Happy new year to you.
But BMW nationally was not as supportive with past problems as, years ago, Cadillac nationally, Lincoln nationally, Audi nationally, Mercedes nationally, were for me when major issues arose. Instead, BMW kept bucking things --like loaner vehicle for major warranty problems -- to "the Center."
The 2011 535i did well on safety numbers, so I bypassed incredible deals offered by AudiA6 and Mercedes E350.
Now, I have waited quite awhile for this ordered vehicle.
I would be terribly disappointed if BMW can't honor the two positions conveyed to me -at the dealer- $1500 credit because I ordered in Dec, and the MF at the time of delivery, if it were lower. It woudl be total news and a change in position when the car comes in and find these two points don't apply. I wonder if this isn't BMW closing the proverbial barnyard door afterwards. I guess we'll see.
As for BMWs, the handling and braking are quite good. But my first leased BMW was in the shop nearly 3 weeks, twice, for lack of parts. My second leased BMW had other issues, systemic on powering down, and I couldn't even get a loaner. So, I'm really hoping the service and support will be different this time. Several of my friends did not get BMWs -- they considered -- when they saw what I went through with the other two vehicles.
And, on this vehicle, after an error, and it had to be reordered, it was rushed into production with no handle on the Christmas delays; with this lack of BMW coordination, the rush into production was a tease, as weeks then went by, no attempt to merge quick production with shipping.
So, in conclusion, I'm hoping, on delivery, to get off to a good start on what was conveyed to me on the $1500 cash back, and the money factor.
Thanks for your kind interest.
528 w/o zenon
MSRP 51975.........Cap cost 49,730.................mf.00165(I am returning leasee with bmw) resid 58%
528 with zenon MSRP 52875......cap 50,550.....resid and mf the same
535i msrp 56175.....cap53595....resd and mf the same.
All have acq fee of 725 and additional cap cost 975. not sure about either of those payments for all in order.
754.87
766.11
808.54
there is also annual fees of 120 on worksheet. Can you guys give me any feedback, i am deciding in the next 2 weeks
They started out wanting $3,500 out of pocket to start my lease. Did not want to put any dollars out of pocket because I still had 3 months left on my old lease and needed to pay it off and return it. So I ended up with $760.00 total out of pocket and $760.00/Mo. The msrp as built was around $51,000. I went with the Dakota leather heated seats/premium package, iPod adapter, Navigation, SAT Radio. It's not a great deal as far as the monthly payment, think $760 is pretty typical for this vehicle, I just beat them down on the up front fees. Hope this helps- Good luck!
Let us know how you do-
Annual fees? I'm paying under $700 for a 2011 535 x drive with premium, navi, cold package, fold down rear seats, satelite radio. Now, I did get the holiday cash, but the pricing I was getting was VERY competitive prior to that.
Good luck!
As far as the selling prices that you were quoted go, this car probably has a spread of around $4,000 between its full MSRP and its dealer invoice price. This probably puts the deals that you were quoted at $1,500 to $2,000 over invoice. There's a decent amount of meat still left on that bone. It probably wouldn't hurt to comparison shop with another dealership or two if there are any others in your area.
Car_man
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As to pricing, one of the dealers said they will offer 4% off MSRP if I order and 5% if I buy off the lot. This seems to still be high as a recent post from car man stated that 1500 to 2000 over invoice "leaves a little meat on the bone." Anotehr person posted that you should be able to get about 7% off Msrp which seems to be only 600 -7-- over invoice. Is this attainable?
MSRP is $57,375
Rate: .00215
Miles: 15,000 (thinking I just need 10-12k)
ACQ fee: $925
Fees , taxes and Doc fees are $2119 total
Init Payment $1296.61
Residual: .59
Adj Residual: $33,851
MSRP: $55,075
Invoice: $50,665
Selling Price: $51,265 (includes MACO & Training Fee)
Acquisition Fee: $725
Money Factor: 0.00230 (5.52%)
Total Monthly Lease Payment: $819
Total Drive-Off Cost: $31 (after $1,500 holiday credit)
In January, I learned that the Money Factor for existing customers dropped to as low as 0.00145 (3.48%). When I addressed this with my salesperson, he indicated that he could offer me the lower Money Factor, but that I would no longer be eligible for the $1,500 holiday credit, and that the selling price would increase. So, with the lower Money Factor, the proposed lease terms are:
MSRP: $55,575
Invoice: $51,125
Selling Price: $51,725 (includes MACO & Training Fee)
Acquisition Fee: $725
Money Factor: 0.00145 (3.48%)
Total Monthly Lease Payment: $748
Total Drive-Off Cost: $1,460
Over a 3-year lease period, the lower monthly lease payment is worth more than the $1,500 holiday credit. But, what I want to know is why I'm not eligible for the original lease terms (see above) and the lower money factor, since I placed my order in December (including a $1,000 order deposit), but won't take delivery until March? That combination would yield the following lease terms:
MSRP: $55,075
Invoice: $50,665
Selling Price: $51,265 (includes MACO & Training Fee)
Acquisition Fee: $725
Money Factor: 0.00145 (3.48%)
Total Monthly Lease Payment: $741
Total Drive-Off Cost: $0 (after $1,500 holiday credit)
Please advise. Thanks.
But.. it is what it is..
The holiday cash was in place, with them knowing what the lease rates are... They are one program...
Now that the holiday cash is gone, they are offering lower money factors to make up for it.. It's how they choose to offer an incentive this month.
It would be great to get the holiday cash and the lower rates.. but, you can't.
regards,
kyfdx
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The dealer is definitely marking this car's money factor up some. The buy rate for non returning BMW customers is only .00175. This is a fairly typical move though. Dealers in areas that have a lot more competition than yours do this sort of thing all the time. Try to get them to use the buy rate, but again given the lack of other dealers in your area you might not have any luck. Still, you don't have anything to lose by trying.
The same things goes for the $925 acquisition fee. BMW FS' base fee is $725.
Lastly, you need to figure out what the dealer is charging you for this car. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Ideally, you don't want to pay full MSRP for this car.
Car_man
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MSRP: $57,625
Invoice: $53,020
Selling Price: $53,964 (includes tax, tags & title, & processing fee)
Money Factor: 0.0028 (The dealer told me its .00231 if I put down 7 MSDs, so I'm assuming this equals a MF of .0028 with no MSDs - let me know if I've miscalculated this)
Term: 36 months
Miles/year: 15,000
Total Monthly Lease Payment (with $3000 down) according to the dealer: $819
When I run the numbers using the above figures (using a cap cost of $50,964, after subtracting $3,000 down payment from the selling price) I get that the monthly payment (with $3,000 down) is $766.34. Any idea why I can't get the numbers to produce the $819 monthly payment quoted by the dealer? At first I thought I hadn't accounted for taxes, but I live in VA and the taxes have already been factored in the purchase price. Please let me know if you have any thoughts. Also, what are your thoughts on the deal itself (selling price, MF, etc.)? Lastly, doesn't the MF exceed the amount that BMWFS allows dealers to charge above the base money factor? Thanks.
Good Luck!
The printout I received from the CA shows the following:
MSRP $57,625
Discount -$4,420
Difference $53,205
Tax $1,716.93
Tag & Title $63.75
Processing $479
Total $55,464.68
Rebate $1,500
Balance $53,964.68
Are there additional costs that I'm not accounting for?
- Premium Package
- Premium Package 2
Invoice - $55,185
MSRP - $59,975
TMV - $57,481
Purchase is within the next 3 weeks. I plan on using the invoice as my negotiating point. May be to possible negotiate to around $50K - $52K. Is this a possibility. Can others with similar specs please post what they paid?
Thanks
I am looking to get lease within the next week or so here are the deals let me know your opinions please!
Is this a good lease MSRP is 62887 589 p/m 4000 down and I pay the taxes up front 10k per year and 36months it has P2, sport and convenience, packages (I live in Glenview a suburb of chicago)
Side note its between this or a E350 4matic same down and taxes put payment is 498 and for 2 years (including 2 year service)
Let me know your thoughts
Thanks Any Advice would be greatly appreciated.
Good Luck. I have a 535x drive (f10) and I LOVE It!
Basically, under lease terms, there are certain items you may owe the leasing co for (excess wear and tear, milage, etc.) and you are, theoretically, responsible for regardless of if you have made any secuity deposit -- so you would end up putting money out either way. With MSDs, you are just loaning the elasing co the money for the term of your lease and buying down the interest rate you are paying on the lease. It makes complete financial sense.
(Also, I intend to hold BMW to dealer commitment of $1500 BMW cash if ordered by Dec, but MF would be MF when car arrives, if MF lower then; my BMW just arrived at dock)
Unfortunately, BMW's current lease program is not compatible with the $1,500 holiday cash that was available when you originally placed your order.
Car_man
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Does somebody know the current lease factors and residuals for BMW 535 or 550?
36 month lease - 12000 miles - repeat customer
Went to my local Vegas dealer and was able to get the following on a 528i with Convenience pkg, both Premium packages. Walked out since I felt they could bring me below $700/mo and because we also couldn't work out a deal on getting rid of my 08 Acura TL with 3 lease payments left, which I'm willing to keep and wait.
MSRP- 54,325
Sale Price- 51,065
Doc & Title fee- 450
They want 2k down. (I want 0)
MF- .00230
Residual- 58%
Local sales tax of- 7.75%
Paying off Acura- $1400 (Again, I told them I refuse to have those payments rolled.)
The lowest they could go was 740/mo before I left.
Where are they getting me? Is there room left to beat them down on the MSRP? I think in the MF. Is there a way to negotiate the MF lower?
Thanks in advance for any input.
The one question I have is why are the leases on the 5 series are so high right now. My friend recently leased a new M37s for $650 a month with a total of $650 down (39 mos, 12k per year) with a 54,500 MSRP. I take it they are highly discounting the M's which is why they can offer such a competitive deal right now (and they may not be selling well). I am just finding the local BMW dealer not willing to discount as much as others I have seen on this forum.
Your deal looks real good to me. I read on some other posts in this forum about giving multiple security deposits to lower money factor, but not sure if that is of interest.
Good luck!
I bought a 535ix with premium, premium2.
The numbers for an otherwise identical lease of a 2011 550i Sedan are .00155 and 55%.
Car_man
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Car_man
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Does anyone know about the pull ahead program for a 2008 528i? Is it 3 months? 6 months? I heard that mercedes allows for 6 months.
Cheers
Gordon
528i Space Gray Metallic
Dynamic Handling
Premium Package + PP 2
Sport Package
Sport Automatic with paddles
Xenon + Adaptive
Total MSRP: $57,775
36 month lease with 12K per year.
Monthly payment $755 + Taxes. South Florida.
Total out of pocket: $1,853.00
Need your opinion. The car need to be ordered. Thank you.
Gordon