I am wondering the same thing myself and am wondering if I should pull the trigger on leasing a 328i sedan or wait to see if the rates are better for May.
Adding to this question, does anybody know where you can look up the historical lease rates. I am not under any kind of time frame so am curious if it would make sense to wait till summer or the end of the 2nd quarter (June). Not sure if rates are regional but I am located in FL.
The MF for 328i sedan in the past 4 months were: .00195 (Jan), .00155 (Feb), .00125 (Mar), and .0014 (April). No one knows the direction of future rates except the person(s) in BMWFS who sets the rate. If you are unsure, I would suggest that you lock in April's rate and wait to see how May or June's rates go.
You can pre-order a car built to your exact specifications which takes 8-12 weeks to arrive.. during that time period you lock in whatever the best rate is during your wait. I did just that, ordered my car the very last day of March, locked in the 1.25 (lowered to .76 after max msd) and just found out today my new 328i should be here around May 15th. (happy dance here) I truly thought as the model year progressed the money factor would lower but looks like 1.25 may have been the best.. waiting to see what May looks like with everyone else...spoke with my client advisor and his best guess was that May's rate would probably be increased because all interest rates are rising..we'll see.
The commends here have been very helpful. I am shopping for a rather plain configuration:
328i sedan (flat black color) sport package auto transmission
A couple of questions that aren't clear after looking at the BMW website:
1. Are fold-down rear seats an extra-cost OPTION no matter what? Or is that just if you want the ski bag and 60/40? 2. I live in Los Angeles. Aside from the $775 destination charge, what is typical for doc, registration and other fees?
(I'd like to negotiate a deal this weekend, and want to be as prepared as possible. I plan on sending bid requests this evening via email to several dealers).
The residual has been the same for the the last 4-5 months. I think the MF may have bottomed in March. Lock in the rate now will be your best bet. You can't lose whether rates go up or down.
Donna has mentioned that you can lock in rates through dealer. You can also lock in the rates by submitting credit application on line at BMW website, although you still need to designate a dealer in that process. If you do not order your car, I believe the lock-in is good for 60 days.
1. Fold-down rear seats is an extra-cost option. It can be a stand-alone option at $475, or as part of the $1,000 Cold Weather Package. If you don't order either, the rear seats come with only a fold-down armrest/cupholder, but there is no pass-through to the trunk.
2. The documentation fee is limited to $45 by law in California. If you negotiate car price as "dealer invoice plus $XXX", dealers will include MACO ($380) and training fee ($180) in dealer invoice. DMV fee and license should be less than 1% of your car price.
Some captive finance companies will give you a break on the finance charges, if you put up extra security deposits for the duration of your lease term.
Does anyone know the April money factor for a 328i sports wagon? Similarly, any idea about the typical residual for a 36 mo. least at 10k miles/year? Any information is greatly appreciated.
BMWFS has all sorts of different money factors for the different configurations.. I'd guess that the sedan market is more competitive than the wagon market, and they need incentives to compete on price.
It is almost always more expensive to lease a 3-series wagon or coupe, than the sedan.
MSRP - $43,025.00 Selling me the car for - $41,204.36 $1651.50 at lease signing: First Months Payment - $559 Reg Fee - $262.50 Acq Fee - $625 Doc Fee - $199 Tire Tax - $6.00
$559 per month / 30 month lease
The deal is good through Monday. Please let me know your thoughts on this deal. The sales rep is telling me they are making close to nothing on this deal.
You and Donna are brilliant!! I had no idea that Factory subsidized rates could be locked in! Of course, the dealer would never tell you that. They would rather allow your anxiety to push you toward doing the deal that day, rather than calmly waiting and seeing what the next month's rates were. Thanks to Donna and jtla for getting me out of a tough decision that I felt pressured to make today. I will submit online and calmly wait until May 1 or 2 when the new rates are published. Do you know if Mercedes Financial allows the same type of "lock in"?
I just called Mercedes Financial Services and they said that their programs do not allow for the "lock in." Further, I checked with a dealership that has both BMW and Mercedes, and they said the same thing. Is there some discretionary dealer call for the BMW "lock in," or is it a BMW Financial Services policy? Thanks!
I locked in my rate with dealer back in February. If you live in L.A. area, I can give you the name of dealership and salesperson. You may want to contact BMWFS also.
well Martin. I have to let you know it was certainly very nice reading your compliment calling me brillant.. what a great way to start the week. lol. Thank you!
Anyway, I am not certain if you can lock in rates just by filling out a credit app. I really think an order and dep. has to be placed for a new BMW. I could very well be wrong, so I will defer to others more knowledgeable here.
As it happens I filled out my credit app on line after I had to come to an agreement with the dealer on the BMW I wanted and the pricing. I just filled out a credit app on the BMW website after I built the exact same car and chose the dealership tp send it to that I had been dealing with..and the only reason I filled a credit application on-line is because I did not want to fax my info to the dealer -- just an added layer of security for me. I am including a copy of the approval letter from BMWFS and you will notice it has an approval with an expiration date but no mention of rate..so indeed, I do think it is worthwhile for you to make a call to BMWFS and confirm if by just filling a credit app that it locks in you rate..
and what's ths about Mercedes? Do yourself a favor and just get a Bimmer and never look back..BMW's are so much more fun than MBZ imho. Let all the other MBZ's on the road just look at your taillights and pull over to the right as you pass them by.
all that said I bet rates for May will remain the same at 1.40 and June they will lower probably to 1.25 again... just guessing..but as the model year is half over and summer begins most car manufacturers get quite competitive for your automotive dollar.
Anyway here is the approval letter. I deleted the dealership info that it was sent to me and showed a different approval number for this posting. Everything else is correct though.
Congratulations! Your Internet Credit Application for a BMW 328i has been approved with BMW Financial Services. We are pleased you have chosen to lease your BMW through BMW Financial Services.
This Credit Approval is for the following applicant(s) only, and is based on the terms (down payment amount, trade in amount, length of contract, and vehicle options) you provided in the online credit application. These leasing terms must be confirmed by BMW Center as being accurate prior to a final sales transaction.
APPLICANT: Donna ____________________________________________________________
Please print a copy of this Credit Approval and bring it to BMW Center to complete the sales transaction. This Credit Approval is valid with only. Changes to the transaction terms, vehicle model, or vehicle equipment may result in an additional inquiry to your credit report.
We hope your online experience with BMW Financial Services was fast and convenient. Thank you for choosing BMW and BMW Financial Services for your leasing needs. We look forward to serving you!
This approval is valid until the expiration date on this approval notification, and is nontransferable. Please visit your selected BMW center for details.
Please do not respond to this message using the 'Reply' function.
I am looking to buy a 2007 BMW 328i sedan. The only option I have to have is automatic transmission. I came to this site looking for pricing and found that almost everyone seems to be leasing. Currently I am still driving my car from college that is paid for, so this is the first time I will be buying (or possibly leasing) a car, and I'm terrified.
Initially, I planned on making a large down payment and then financing the rest, but I could possibly pay cash. I do plan to keep the car for a while. Any advice on the best way to finance would be greatly appreciated, as I don't want to get ripped off.
I also have always found out just enough about leasing to end up confused. I have never pursued finding out more since, the one consistent thing I have heard is that if you get attached to cars and like keeping them a while (like I do), leasing is NOT the way to go. It really seems set up for someone who either has not much money to put down (or no desire to put down much) and turn over cars every couple of years.
Does anyone know the May money factor for a 328xi sedan and the residual for a 36 month lease at 12k miles/year? Thanks!!! This Forum has been very helpful to me
Can someone tell me what they feel about this quote that I got from a dealership in california. Whats good about it, whats bad about it, and can I do better. I went shopping around to other dealers who told me that this quote is imposible. Any suggestions? Also with 15,000/year can I negoiate to get a residual factor of 61%?
Lender BMW Financial Services Term 36 Months Mileage 15,000/year Residual Factor 58%
Selling Price $39,090.00 Bank Fee $825.00
Total Capitalized Cost $39,915.00
Residual Value $24,128.00 Total Depreciation $14,296.99 Capital Reduction $1,490.01 Monthly Depreciation $397.14 Monthly Rent $87.57
Monthly Payment $484.71 Tax (7.75%) $37.57
Monthly Payment + Tax $522.28
Capital Reduction $1,490.01 Cap Reduction Tax (7.75%) $118.96 License & Registration $323.75 Documentation Fee $45.00 First Payment $522.28 Security Deposit $0.00
Question re: packages/color. How difficult is it to specify color/option packages on 3 series? Wondering if it would really undercut negotiating leverage, ie, people typically take what's commonly available in dealer inventories. Thoughts?
Destination and Handling 775.00 TOTAL AS EQUIPPED $41,600.00 SELLING PRICE $39,090.00
On a 3 year - 15,000/year lease can you get a risidual factor of 61% or does it have 2 be 58%. A guy at one dealer told me it has to stay at 58% on a 15,000 year and that BMW sets it and it can't be changed.
after some negotiation i received this offer: 335i coupe Manual, Premium pkg, Cold Weather Pkg, Sport Pkg, Ipod/usb, Metallic Paint. MSRP 47350. Sale Price: 46000. aqc fee: 825 Document fee: 50 MF: .00185 Residual Value: 60% Drive off: 1520 ($168 State License Fees, $652.20 first month, 700 security) sales Tax: 0% Down Payment: $0 36 month lease/12k miles Monthly payment: 652.20
How does this look? It seems the aqcuisition fee is inflated $200, which translates to a few dollars a month. i'm ok with taking that hit, as the process was pretty pain free. But is this a good deal? car_man, kydfx please help!
i was also offered a $499 warranty on the run flats, where any number of flats will be replaced for free for 4-5 yrs (don't remember which right now). Seems like a good warranty for such expensive tires. any thoughts?
Aren't the run-flats covered under the bumper-to-bumper warranty? I know flats in regular tires aren't covered, but I've seen many posts where run-flats were replaced free under warranty (or at least pro-rated).
I asked my dealer about MSD X7 and about lowering the MF by .007. He told me that if I did that, they would have to bump my MF to the standard rate of .00195 then reduce it by .007 instead of my locked in April rate of .0014. Is this true?
Please let me know what is the price that you bought for your BMW 2007 convertible. Were you able to get at the invoice or below the invoice price?
I went to the dealerships this weekend to check out the price and some of the them were quoting me outrageous price. One of the dealers was quoting me $5K to $10K above the MSRP due to new model while another was quoting me $1000 less than the MSRP price. I think about of them are high.
I doubt you can get the 328i vert (even worse the 335i vert) for invoice. I follow so many bimmer forums and the best I've seen is around $1400 over invoice for 335i vert.
Caveats: 1) don't know if the guy had a trade in, which is another money maker for dealer 2) if MACO/prep/training fees are already included in that $1400 over invoice. 3) hey this is internet somebody can claim whatever.
My local dealer strictly said not much wiggle room on vert, but more on sedan. This is on 335i, also 328i has more discount as well.
"if they don't show you the door, you offer too much"
I appreciate all the information on this site regarding leasing a BMW. However, given my high mileage requirements, I will be purchasing my new car. I have searched through most of the posts here, and they all seem to center on leasing. Are there any specific posts discussing purchase prices? Thanks very much.
Has anyone tried negotiating with the dealership on some sort of trade removing the run flats and replacing them with 5 michalen Pilot sport PS2's a rim and a jack. Try to receive some sort of credit for the runflats and paying additional cash. Manufactures who use run flats, there sales have declined, especially the Lexus SC430
I also wonder why most of the talk I find regarding BMW on various forums focuses on leasing rather than buying. Do most BMW owners tire of their cars quickly or are good purchase deals just not available?
Hey guys, I'm a former owner of a 323i, which I traded for a FJ Cruiser, but now that I realized my gas and payments are too much, I'm coming back to BMW. Basically I'm asking for opinions. I'm getting a 325IT Wagon. I'm getting it for 22000, give or take a few dollars. So, what I'm wondering, is this a good deal? They are giving me 29000 for my Cruiser, which I know is a bit of smoke and mirrors. I only owe 14000 on my car. So I'm only financing 8000. The car is also under factory warranty until Sept '08 or 50000, which it currently has 37000. I loved my other one, but got rid of it due to my large dogs. So I figured a compromise with the wagon, and it being 4 years newer would be the smart play. Any opinions? Good deal? Bad Deal? The KBB is 25500 with the options. It is also local with one owner and checks out clean on carfax.
Every lease deal starts with a purchase price of the subject vehicle. If you look into those posts regarding lease, you will find the pricing information. Price also depends on regional market condition. For 2007 328i sedan, a price of $500 over dealer invoice is a good target, which should be fairly common in markets with healthy competition, such as SoCal. As Summer approaches, the price should get better with 2008 models around the corner.
I used to be a firm believer that leasing actually costs more. However, with its low MF and high residual, BMW's subsidized lease deal changes the dynamic. For example, my 328i sedan lease signed in March had a MF equivalent to 1.82% interest rate. The rate is slightly higher in May, but still just over 2%. I would have to keep the car over 7 years to bring the average monthly cost to below the payment of 3-year lease. This is assuming a 5% cost of fund (loan rate) and not including the cost of extended maintenance/warrantee to 6-yr, 100k miles. To me, leasing is the logical way to go for a BMW.
I was also considering Infiniti G35. Had I chosen it, I would have purchased it out right instead of leasing, because Infiniti's MF and residual were not favorable.
Most people cannot afford to "purchase" a BMW which is why they lease. They also are not TRUE BMW fans, they just want the name and that is one way to get it. ;o)
Comments
Adding to this question, does anybody know where you can look up the historical lease rates. I am not under any kind of time frame so am curious if it would make sense to wait till summer or the end of the 2nd quarter (June). Not sure if rates are regional but I am located in FL.
Do you know what the residual values were over that period?
"I would suggest that you lock in April's rate and wait to see how May or June's rates go."
How does one going about locking in a rate (which sounds like the best thing to do right now)?
Regards,
Donna
328i sedan (flat black color)
sport package
auto transmission
A couple of questions that aren't clear after looking at the BMW website:
1. Are fold-down rear seats an extra-cost OPTION no matter what? Or is that just if you want the ski bag and 60/40?
2. I live in Los Angeles. Aside from the $775 destination charge, what is typical for doc, registration and other fees?
(I'd like to negotiate a deal this weekend, and want to be as prepared as possible. I plan on sending bid requests this evening via email to several dealers).
Any other advice? Much appreciated!
- Hominus
Donna has mentioned that you can lock in rates through dealer. You can also lock in the rates by submitting credit application on line at BMW website, although you still need to designate a dealer in that process. If you do not order your car, I believe the lock-in is good for 60 days.
2. The documentation fee is limited to $45 by law in California. If you negotiate car price as "dealer invoice plus $XXX", dealers will include MACO ($380) and training fee ($180) in dealer invoice. DMV fee and license should be less than 1% of your car price.
Some captive finance companies will give you a break on the finance charges, if you put up extra security deposits for the duration of your lease term.
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3yr/30K residual is 63%
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It is almost always more expensive to lease a 3-series wagon or coupe, than the sedan.
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2007 328xi
12k / year
Premium
Cold Weather
Navigation
Automatic
Metallic Paint
MSRP - $43,025.00
Selling me the car for - $41,204.36
$1651.50 at lease signing:
First Months Payment - $559
Reg Fee - $262.50
Acq Fee - $625
Doc Fee - $199
Tire Tax - $6.00
$559 per month / 30 month lease
The deal is good through Monday. Please let me know your thoughts on this deal. The sales rep is telling me they are making close to nothing on this deal.
Thanks...Joe
328i; 36 mo.; 12,000 miles/yr; options: sprt pkg, nice flr mats
MSRP: 34,895
Adj Cap Cost: 34,000
MF: 0.00091
Sec Dep: $3600
Res: 63%
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Anyway, I am not certain if you can lock in rates just by filling out a credit app. I really think an order and dep. has to be placed for a new BMW. I could very well be wrong, so I will defer to others more knowledgeable here.
As it happens I filled out my credit app on line after I had to come to an agreement with the dealer on the BMW I wanted and the pricing. I just filled out a credit app on the BMW website after I built the exact same car and chose the dealership tp send it to that I had been dealing with..and the only reason I filled a credit application on-line is because I did not want to fax my info to the dealer -- just an added layer of security for me. I am including a copy of the approval letter from BMWFS and you will notice it has an approval with an expiration date but no mention of rate..so indeed, I do think it is worthwhile for you to make a call to BMWFS and confirm if by just filling a credit app that it locks in you rate..
and what's ths about Mercedes? Do yourself a favor and just get a Bimmer and never look back..BMW's are so much more fun than MBZ imho. Let all the other MBZ's on the road just look at your taillights and pull over to the right as you pass them by.
all that said I bet rates for May will remain the same at 1.40 and June they will lower probably to 1.25 again... just guessing..but as the model year is half over and summer begins most car manufacturers get quite competitive for your automotive dollar.
Anyway here is the approval letter. I deleted the dealership info that it was sent to me and showed a different approval number for this posting. Everything else is correct though.
Congratulations! Your Internet Credit Application for a BMW 328i has been approved with BMW Financial Services. We are pleased you have chosen to lease your BMW through BMW Financial Services.
This Credit Approval is for the following applicant(s) only, and is based on the terms (down payment amount, trade in amount, length of contract, and vehicle options) you provided in the online credit application. These leasing terms must be confirmed by BMW Center as being accurate prior to a final sales transaction.
____________________________________________________________
APPROVAL NUMBER:
1234567
EXPIRES:
05/31/2007
APPLICANT:
Donna
____________________________________________________________
Please print a copy of this Credit Approval and bring it to BMW Center to complete the sales transaction. This Credit Approval is valid with only. Changes to the transaction terms, vehicle model, or vehicle equipment may result in an additional inquiry to your credit report.
We hope your online experience with BMW Financial Services was fast and convenient. Thank you for choosing BMW and BMW Financial Services for your leasing needs. We look forward to serving you!
This approval is valid until the expiration date on this approval notification, and is nontransferable. Please visit your selected BMW center for details.
Please do not respond to this message using the 'Reply' function.
Black / Black
Premium package
Navigation System.
36/ 12k
MSRP: $44,500
Total Drive out due including first month payment of $580;
$1850
Monthly payment is $580 ( including CA tax 0.0825 )
If i choose the one with sport package, shift paddle, metallic silver plus above. ( MSRP $49750 ) price will be $1950 total drive off plus $605 X 35m.
Hope it helps someone to nego thier 3 at the market.
Thanks
Doug
Initially, I planned on making a large down payment and then financing the rest, but I could possibly pay cash. I do plan to keep the car for a while. Any advice on the best way to finance would be greatly appreciated, as I don't want to get ripped off.
Doug
does anyone know what are the Money Factor and Residuals for May 2007 on BWM 328xi - 36 month lease?
Is it better than for April?
Thank you!
Thanks.
here is the deal I got from one of NJ dealer:
2007 328i
premium package,
automatic,
heated front seats,
Navigation,
Alpine white
12k/year
24 months
MSRP: $40,300
Negotiated Price: $38,480
$0 down.
$2,047 due at lease signing:
First Months Payment - $509
Sec. Deposit- $550
Other Fees - $164
Acq Fee - $625
Doc Fee - $199
$509 per month / 24 month lease
thanks in advance
Lender BMW Financial Services
Term 36 Months
Mileage 15,000/year
Residual Factor 58%
Selling Price $39,090.00
Bank Fee $825.00
Total Capitalized Cost
$39,915.00
Residual Value $24,128.00
Total Depreciation $14,296.99
Capital Reduction $1,490.01
Monthly Depreciation $397.14
Monthly Rent $87.57
Monthly Payment $484.71
Tax (7.75%) $37.57
Monthly Payment + Tax $522.28
Capital Reduction $1,490.01
Cap Reduction Tax (7.75%) $118.96
License & Registration $323.75
Documentation Fee $45.00
First Payment $522.28
Security Deposit $0.00
Drive Off $2,500.00
Trade Equity $0.00
Rebate $0.00
Due at Signing $2,500.00
Base Price $35,300.00
0205 STEPTRONIC Automatic Transmission 1,275.00
0ZPP Premium Package 3,250.00
0ZSP Sports Package 1,000.00
Destination and Handling 775.00
TOTAL AS EQUIPPED $41,600.00
SELLING PRICE $39,090.00
On a 3 year - 15,000/year lease can you get a risidual factor of 61% or does it have 2 be 58%. A guy at one dealer told me it has to stay at 58% on a 15,000 year and that BMW sets it and it can't be changed.
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61% is for sedans..
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335i coupe Manual, Premium pkg, Cold Weather Pkg, Sport Pkg, Ipod/usb, Metallic Paint.
MSRP 47350.
Sale Price: 46000.
aqc fee: 825
Document fee: 50
MF: .00185
Residual Value: 60%
Drive off: 1520 ($168 State License Fees, $652.20 first month, 700 security)
sales Tax: 0%
Down Payment: $0
36 month lease/12k miles
Monthly payment: 652.20
How does this look? It seems the aqcuisition fee is inflated $200, which translates to a few dollars a month. i'm ok with taking that hit, as the process was pretty pain free. But is this a good deal? car_man, kydfx please help!
i was also offered a $499 warranty on the run flats, where any number of flats will be replaced for free for 4-5 yrs (don't remember which right now). Seems like a good warranty for such expensive tires. any thoughts?
My dealer replaced them before the recall notice from BMW was published.
Regards,
OW
I went to the dealerships this weekend to check out the price and some of the them were quoting me outrageous price. One of the dealers was quoting me $5K to $10K above the MSRP due to new model while another was quoting me $1000 less than the MSRP price. I think about of them are high.
Caveats:
1) don't know if the guy had a trade in, which is another money maker for dealer
2) if MACO/prep/training fees are already included in that $1400 over invoice.
3) hey this is internet somebody can claim whatever.
My local dealer strictly said not much wiggle room on vert, but more on sedan. This is on 335i, also 328i has more discount as well.
"if they don't show you the door, you offer too much"
Try to receive some sort of credit for the runflats and paying additional cash. Manufactures who use run flats, there sales have declined, especially the Lexus SC430
I was also considering Infiniti G35. Had I chosen it, I would have purchased it out right instead of leasing, because Infiniti's MF and residual were not favorable.