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BMW 1-Series Lease Questions

135

Comments

  • emiamiemiami Member Posts: 2
    Thank you for the response!

    The car that I looked is specifically a 2011 128i Coupe, with only the automatic transmition, not even the mettalic paint. So the price of the vehicle was at 31,400.
    Dealer then gave me a discount of $1,200, bringing the price down to $30,200.

    I have an offer from a Miami Dealer, of $396/month including tax, giving $2,500 up front (which include the inceptions).

    A friend of mine said that i could fight over the inceptions, so I could give less money down.

    How does this deal sound to you guys?
    and again thank you so much for the help.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem Miami. The car that you are interested in probably has a spread of around $2,400 between its full MSRP and its dealer invoice price. The $1,500 dealer discount that you were quoted isn't bad. That probably puts you at around $1,000 over invoice.

    If you shop around or haggle some more with this dealer, you might be able to shave another couple hundred dollars off of this deal, but again it's not bad.

    Just make sure that the dealer is using BMW Financial Services' buy rate lease money factor to calculate your payment and you're in business.

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  • kabbalahkabbalah Member Posts: 58
    I bought rather than leased a new 135 convertible.Black with red interior, sport pkg, cold weather, auto, sport steering wheel, power seats,ipod & usb adapter. I would have liked parking sensors, navigation and satellite radio but c'est la vie. Sticker 47265. I paid 44410 plus tax. I bought because BMW gave me 72 months financing at 0.9%. I couldn't resist the almost no interest financing. After calculating the numbers back and forth, it didn't pay to lease. I also bought the BMW tire & wheel warranty which cost an additional 1295. It came in handy as I picked the car up out of state and I blew a tire at 2000 miles in Texas. These Bridgestone run flats are so stiff that without the tire monitor pressure system going off, I wouldn't have know that the tire was flat. It had zero pressure in it.
  • dwynnedwynne Member Posts: 4,018
    They key point is this is a 2010 and not a 2011 (which are available everywhere now). They have 0.9% for 72 on the left over convertibles plus $1,500 in dealer money as well. If you can find a left over coupe, I think you can do 0.9% for up to 60 and the dealer gets $1,500 as well. For 2011, the rates are 1.9% for 60 and no dealer money.

    I don't think BMW has a wheel and tire warranty, that is something the dealers foist on customers for extra profit. Depending on which tire blew and which tires came on the car, you could buy a replacement from TireRack for $275 to $340 - so a whole new set of 4 for less than you paid for the warranty. I would think a new tire with 2k on should not blow and the manufacturer should replace it under warranty as defective - unless you ran over something the blew the tire out.

    I wish BMW would give us the option of a spare and normal tires - the run flats are way too much of a compromise in comfort and performance compared to the best "air required" tires.
  • dwynnedwynne Member Posts: 4,018
    If you get BMWFS to waive the security deposit on your lease, is it still a .00015 bump in the MF? The 135i buy rate is 0.00170 so would go to 0.00185 if they still use the same formula.

    They waive this for "free" for current and past BMWFS customers, but I am not sure how recent of a customer you need to be to qualify.
  • kyfdxkyfdx Moderator Posts: 236,681
    Yes.. the MF bump to waive the security deposit is .00015

    Obviously, you are better off making the deposit..

    Not sure of how recently you have to be a customer, but for most other issues, it's between 60 days and 6 months...

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  • kabbalahkabbalah Member Posts: 58
    Yes I know it's a 2010. I like cheap money. The tire and wheel is from BMW and not a third party warranty company. I think it is well worth the investment based on this experience and my previous 5 BMW's. Don't forget this covers me for 5 years including tires that are replaced. One pothole along with a damaged wheel and tire and you'll think otherwise.Here is a link to BMW regarding the policy. http://www.bmwusa.com/Standard/Content/Owner/BMWUltimateProtection/TireandWheelP- rotection.aspx
  • dwynnedwynne Member Posts: 4,018
    Just make sure that the dealer is using BMW Financial Services' buy rate lease money factor to calculate your payment and you're in business.

    Maybe you or someone else could point to a BMW dealer that lets you have the buy rate, does not mark up the acquisition fee, and has a reasonable doc fee?

    I have leased BMWs before, but this time every dealer I talk with is doing about a point over buy rate, jacking up the bank fee (by as much as $300), and has a $400 or more doc fee. They offer discounts ranging from $800 to $2,400 off MSRP (so far), but when you factor in the inflated numbers this deals are really not that hot. This is for an ordered 135i coupe - on a loaded up car the inflated MF alone is $30 or more a month on the payment (tax included) or over $1k on the term of the lease. If I have to travel too far or have to the car hauled to me, then I might as well pay the rip off inflated rate...
  • Kirstie_HKirstie_H Administrator Posts: 11,148
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  • rjg001rjg001 Member Posts: 8
    I know BMW has released its August lease numbers to dealers, but haven't seen them on any message boards yet. I'm probably going to lease a 135i for two years and I'm locked in for the July numbers if I want them, but just trying to figure out if the August numbers are any better. And I'm not sure I trust the quotes from my sales person.

    Anyone have August 2010 residuals and money factors for 2011 1 series yet?
  • dwynnedwynne Member Posts: 4,018
    My dealer tells me the numbers carried over unchanged from July. At least on the 135i coupe. The new deals are up at the BMW USA page, but they do not include net cap cost which makes it impossible to figure out the money factor. The residual you can get by knowing the end of lease buy out price and MSRP and both are shown in the listing. Note that the dealer can't change the residual.

    Is your dealer marking up the MF on your deal? Every one I talked to so far is adding nearly a full point to the buy rate.
  • dwynnedwynne Member Posts: 4,018
    I confirmed it with a couple of dealers, the 1 series lease numbers are the same a s last month. Some of the 3 series numbers improved, in particular the sedan numbers.
  • jkgreer2jkgreer2 Member Posts: 42
    Just in case a local BMW dealer offers a "great Lease", what will be a great lease deal? I have always purchased before now, and may still purchase (60 mo. loan). Following lease description on BMW web site is Greek to me. Thanks in advance.

    "36-month lease well-equipped at $419*/month, Vehicle Registered outside N.Y., $419 First months payment, $3,000 Down payment, $450 Security Deposit, $725 Acquisition fee, $4,594 Cash due at signing. Monthly lease payments of $419.00 for 36 months based on MSRP of $44,750.00. Vehicle may need to be ordered. Total lease payments are $15,084.00. Excludes tax, title, license, acquisition and registration fees. Rates are based on Super Elite/Elite/Standard credit tier level."

    "At lease end, lessee will be liable for disposition fee ($350.00), any excess wear and use as set forth in the lease agreement and excess mileage charges of $.20 per mile for miles driven in excess of 10,000 miles per year. Purchase option at lease end for $29,535.00 excludes taxes. Lessee acquires no ownership interest unless purchase option is exercised."
  • jerimypjerimyp Member Posts: 4
    Trying to get in touch with "jkgreer2"....I've had the exact same problem as your TL with the DVD-A not playing and was hoping you could tell me how you solved. I've replied to your original post in 2007 in the acura tl audio section...Please help.
  • jkgreer2jkgreer2 Member Posts: 42
    Regarding DVD-Audio not playing, I had 2 Acura dealers look at problem. The problem for 2004 Acura TL was one DVD-A slot would play, other 5 DVD-A would not. Both Acura dealers did not have a clue. One dealer did guess a 'cleaning' of inside of DVD-A unit was needed. Car was out of warranty. Both dealers gave me suggestions on radio repair shops for DVD-A, which required taking radio/DVD-A unit out, waiting 2-3 weeks for diagnosis, and waiting for repairs. I punted, kept radio unit, played my favorite DVD-A on one channel that worked (other channels played normal CD discs fine) and sold car during next year. DVD-A fix may be as simple as 'cleaning', but I now have 50-55 mpg Prius. Sorry can not help more. I do miss the DVD-Audio sound (Eagles Hotel Calif). Good luck with repairs.
  • jerimypjerimyp Member Posts: 4
    Thanks for responding....At least you had one channel, none for me for the dvd-a. Which channel worked for you? Same experience from the dealerships. My search continues....
  • ninja_monkeyninja_monkey Member Posts: 1
    The wife and I just picked up a 2011 135i. It's our first BMW and we love it. It's a blast to drive. We went to the dealer looking to lease a 3 series but we fell in love with 135i. They had our car sitting on the lot and we got a great lease deal on it. Couldn't be happier. I can't believe more people don't know about this car.

    Black Sapphire Metallic, Black Boston leather, Glacier Silver Aluminum trim, 7-speed DCT, M Sport Package, Premium Package, Value Package, Heated front seats, Harmon Kardon surround sound system and Satellite radio for 1 year.

    $781 out of pocket (includes tax, all fees, plate transfer and first months payment) 36 month lease with 10,000 miles per year. Payment is $531.82 a month.

    Not bad in my mind, especially since it includes all maintenance and a tire/wheel warranty at no extra charge.
  • jkgreer2jkgreer2 Member Posts: 42
    Sounds like a good deal although details for a Lease is not my specialty. I am interested in what dealer claimed as the value of the tire/wheel warranty. Does warranty replace alloy wheel and/or tire 'free' if run flat needs a replacement due to curb or nail damage? I will take deliver in a few weeks of a 135i conv. with almost same options as yours, from Huntsville BMW, and would like to be prepared for the last hour blitz of special 'deals' by finance dept. Thanks in advance.
  • westla7westla7 Member Posts: 3
    edited November 2010
    Hi there,

    I really hope for help. I currently need second car, and was thinking about buying with CarMax (I've been their customer with quite few cars, and though, not perfect, they are decent choice) financing for 60 months, but then new deal for 135i coupe:

    2011 128i Coupe Lease Offer
    36-month lease well-equipped at $399*/month. $0 Down payment & includes a Holiday Credit of $1,500
    Vehicle Registered outside N.Y.
    • $399 First months payment
    • $0 Down payment
    • $0 Security Deposit
    • $399 Cash due at signing

    I am in Los Angeles. This information is from http://www.bmwusa.com/Standard/Content/FinancialServices/LeaseOfferDetail.aspx?e- - nc=QNzH/2RcovwrhE0mqkpggw== (BMW USA, so I think I can find this deal at local dealers w/o big problems).

    Anyhow. I am very confused at what I am looking.
    Let me try to break it down to see if I am right. Please, correct me.

    Initial cash due is $399.
    license and registration fees for ~35K car will be around ~$500.
    First payment is $399 + tax (9.25%) = ~$440.
    GAP coverage (have no idea, but as I recall it's between 500-800, so I'll assume the highest one) = ~$800

    TOTAL AT SIGN UP: ~$2150

    What else? Did I miss something?
    Now, the monthly payments are $399 + tax (9.25%) = ~$440.

    So, TOTAL EVERY MONTH: ~$440

    Now, closing costs.
    I think I need 12-15k/year, but it's only 10k/year provided, with $0.20/extra mile.
    So, let's say I am not going to get their "plan" with extra miles.
    Okay, so I'll just calculate that "extra".

    Extra miles 5k/year * 3 years = 15K * $0.20 = $3000.
    Disposition fee $350.
    Tear and wear ???? -- how much this could be? What they are going to charge for? I never leased, so I have zero experience. Is it bad? How bad it could be?
    Also, I heard that after lease ends dealer can sell the vehicle for less than actual bank owned money, so they can put charge on me (lesee!!) -- but not more than three monthly payments -- is that correct? Is it true? So it possibly (I am just assuming the worst) might be $440 * 3 = $1320.

    ---

    To crown it all, it might be $2150 at the beginning, $440 per month for 36 months, and at max $4670 at the end. So, the total loss is about ~23K for 36 months, so less than $8K/year which looks pretty decent choice for driving new BMW.

    What do you think? Can you help me? Guide me?

    P.S. I also wonder how much would be the maintenance over those 36 months? If splitted the cost of maintenance over the period -- how much per month? Or at least for whole 36 months?
  • carnaughtcarnaught Member Posts: 3,497
    edited November 2010
    First of all, disposal fee is plus tax which comes out to around $370.

    "Wear and tear" can be for anything such as chips on the windshield in the line of vision which are of a certain size but this would be offset if your car insurance includes windshield replacement for such things. Other things are car dents or scratches which are quite large, leather or dashboard material damages of a certain size, replacemnt of warn tires (their fee is $200-400 per tire but is usually less than if you go to a tire store), bumper damage from scraping over parking space cement stops (which can be $300-$400), etc.

    BMW is much more lenient and will let many or most of these things go if you are going to lease or buy with them again after the conclusion of your lease, and then too, there is no disposal fee.

    Audi's disposal fee is about the same, in contrast to $600 disposal fee with Mercedes and "0" fee with Infiniti leases.

    Hope this helps.
  • runofkingsrunofkings Member Posts: 9
    What do you guys think of this lease deal?

    2011 BMW 128i, 6 speed automatic, moonroof, bluetooth, and iPod connector.

    36 month lease, 12k miles/yr, $2200 down (includes first month, registration, taxes) and $420 per month?

    MSRP is around $34k, they dropped it to $32k plus and additional $1500 holiday credit.
  • carnaughtcarnaught Member Posts: 3,497
    Your deal could be better, such as the cap. price.. They have good dealer incentives as the car has been slow moving.
  • runofkingsrunofkings Member Posts: 9
    Thanks carnaught!

    So, how should I push back on this? The acquisition fee seems bloated ($925), and there is a "rent charge" of $4,478. Is that negotiable? What would be a more reasonable down payment and monthly fee on this?

    Here are some more specifics:

    Gross cap cost: 33,725.00
    Residual: 21,856.00

    Thanks!
  • carnaughtcarnaught Member Posts: 3,497
    edited November 2010
    Check out on Edmunds the dealer invoice on the (itemized) car you'd be negotiating as well as their section on dealer incentives being offered: click here Then make your offer from there.

    Better yet, on this board or other Carspace lease forum, address your specific lease questions in the subject line to "Car_man" who is the lease guru. It may take him several days to respond to your post but he'll guide you to the best lease deal better than most of us will.
  • anijhawanijhaw Member Posts: 24
    Can anyone disclose what the residual value and current lease factor for a BMW 1 Series on a 36 month 12K Per Year Lease?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi anijhaw. According to the latest information that I have seen, BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2011 128i Coupe with 12,000 miles per year are .00125 and 58%, respectively.

    When negotiating your lease on this car, make sure to take advantage of the $1,500 cash incentive that is currently available on leases of it.

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  • mcvolvomcvolvo Member Posts: 4
    car_man- i love this forum and your help! i'm looking at a 2011 128i convertible, please comment on this deal:

    MSRP: 39950 (incl destination)
    CAP cost 35, 200 (incl 1500 BMW cash)
    residual 64%
    MF .00210
    36 months
    10k/year
    acq/first month up front (no extra cap reduction/cash)
    payment 405 plus tax/ month

    Do the MF and residual numbers look like they are aggressive? i'm top tier credit too.

    thanks!!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks mcvolvo. I'm glad that you like the forums so much. BMW Financial Services' current buy rate lease money factor for the 2011 128i Convertible is actually .00190 for returning customers or new ones who pay a security deposit at lease signing. Make sure that the dealer uses that factor to calculate your car's payment.

    Now let's take a look at this car's selling price. Including the $1,500 cash incentive, this car probably has a spread of around $4,600 between its full MSRP and its dealer invoice price. That's right around the discount that you were quoted, so this is a very good selling price.

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  • runofkingsrunofkings Member Posts: 9
    Hi Car_Man:

    Thanks for all of your great advice!

    I would like your opinion on a 2011 BMW 128i coupe with an MSRP of $32,700 I am thinking of leasing.

    I have been offered a MF of .00125 and a residual rate of 56% for a 36-month lease with 15,000 miles per year. We've agreed on a purchase price of $30,800, resulting in monthly payments of $455 including taxes and $0 down, $0 first month's payment (the $1,500 holiday rebate is applied to the up-front costs).

    What do you think of this deal?

    Thanks!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi runofkings. The lease program that you mentioned in your post is right in line with BMW's current program for this model.

    The car that you're interested in probably has a spread of around $2,500 between its full MSRP and its dealer invoice price. The $1,900 dealer discount that you were quoted is probably around $600 over invoice, which isn't bad...especially after considering the fact that the dealer is not trying to mark your car's money factor up on you like BMW dealers often do.

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  • mdc99mdc99 Member Posts: 7
    edited January 2011
    Car_Man if I could get your help please. Trying to negotiate a lease on 128i convertible. I see in post #134 above that the residual for 36 mo. 10k year is listed as 64% and I see where top tier MF for returning cust. is .00190. Are these still the correct numbers? Thanks for your help.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello mdc99. BMW's January buy rate lease money factor and residual value for a 36 month lease of a 2011 128i Convertible with 10,000 miles per year are .00120 and 59%, respectively for consumers who qualify for its top credit tiers.

    BMW is running a special this month that drops this factor to .00090 for returning customers.

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  • skobolaskobola Member Posts: 207
    Is the owner loyalty reduction of money factor (MF) of 0.0003 still in effect, provided that the lease MFs and residuals have not changed since January 2011?
  • avocatdiaboliavocatdiaboli Member Posts: 22
    Hi Car_man, do you happen to have the numbers for a 3 year, 15000mile/yr lease on a 128i coupe?
    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes, skobola, the owner loyalty money factor reduction is indeed still available in February.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi avocatdiaboli. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2011 128i Coupe with 15,000 miles per year are .00135 and 56%, respectively for consumers who qualify for its top credit tiers.

    The money factor for loyal BMW customers drops to .00105.

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  • evolved_exevolved_ex Member Posts: 2
    Help! Would a low 600 credit score qualify me for a loan through BMW? What kind of rates would I be looking at for a 135i?
  • lamusiclamusic Member Posts: 28
    Car_Man,

    What is the March residual value and MF for a 128 convertible, 10k miles per year, 36 & 24 mo. leases ?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi evolved_ex. Yes, you probably would be able to lease a BMW through BMW FS with a credit score in the low 600s, but you probably would not qualify for its top credit tier. BMW likely would bump up your rates by some amount.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello lamusic. BMW Financial Services' March buy rate lease money factor and residual value for a 24 month lease of a 2011 128i Convertible with 10,000 miles per year are .00120 and 67%, respectively for consumers who qualify for its top credit tiers.

    The numbers for an otherwise identical 36 month lease are .00120 and 59%.

    BMW is reducing its factors by .00030 for loyal customers.

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  • evolved_exevolved_ex Member Posts: 2
    thanks!
  • blakersblakers Member Posts: 1
    Car_Man-

    If I put down the maximum security deposit for a 128 coupe or 135 coupe, what's the new MF I'll be looking at?

    I don't believe the rest matters, but it's 12k/year 36 months.

    Also, I live in NY and from what I understand, you can't do maximum security deposits here. If I lease the car in NJ or PA, will I be good?
  • skobolaskobola Member Posts: 207
    edited March 2011
    Is there a way to see all the available 128i Convertibles that are in the stock? Edmunds limits the review of cars in dealers' stocks in surrounding zips. However, I do not care from where the car would come but do care that the car is exactly as I want it. Please, let me know. Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome evolved_ex.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited March 2011
    Hi blakers. BMW Financial Services' normal buy rate lease money factor for a 36 month lease of a 2011 128i Coupe is .00135. The buy rate for the 135i Coupe is .00120.

    Lower this factor by .00030 for loyal customers.

    I believe that you can lower it by .00007 for every additional security deposit that you make, up to a maximum of seven. That's what the MSD program was like the last time that I checked. I'm not sure if the MSD restriction applies to the state that the vehicle is leased in or your place of residence, but I suspect that it is the latter. If that is the case, then you wouldn't be able to take advantage of it

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  • lamusiclamusic Member Posts: 28
    Hi Car_Man

    Can we get info on the April program please? For the 128 convertible, 10k miles/year what is the best lease deal right now? Can I please have the residual and MF for 24 months, 36 months and if they have a 27 mo. or 39 mo. deal that too please?

    Are their any incentives or dealer cash?

    Thank you so much for your help - Im going to make a decision this week and the info you provide makes it easy and makes me confidant that I'm making a good deal. I really appreciate it!!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lamusic. BMW Financial Services' April buy rate lease money factor and residual value for a 24 month lease of a 2011 128i Convertible with 10,000 miles per year are .00120 and 67%, respectively for consumers who qualify for its top credit tiers.

    The numbers for an otherwise identical 36 month lease are .00120 and 59%.

    The money factors for loyal customers are .00030 lower.

    I don't believe that BMW is running 27 or 39 month leases on this car right now.

    BMW is currently providing $1,000 dealer cash on this car.

    Car_man
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  • lamusiclamusic Member Posts: 28
    Car_Man - thanks for your help.

    I negotiated a fair selling price but when I go to negotiate the lease terms the dealer is adding on a "bank fee" of $725. What is this? Is it non-negotiable like a destination fee or is it a silly dealer trick?
  • kyfdxkyfdx Moderator Posts: 236,681
    "Bank fee" is another name for acquisition fee... $725 is the base fee for BMWFS. The bank (BMWFS) allows dealers to markup this fee by an extra $200 for extra profit, if they wish...

    Just about every bank charges an acquisition fee on a lease..

    regards,
    kyfdx

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  • skobolaskobola Member Posts: 207
    If you do not mind, please let me know what kind of deal did you get. I have recently leased a 128i Convertible with MSRP of $40,400 for $454 + $1100 out of pocket. I do not see this is an especially good deal, but provided that the new 2012 128i will be much more expensive to lease, I went with it, although I did not have time to actually negotiate a better deal. Any comments, anyone?
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