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If buying through military/dip program, it is 12% or so (used to be anyway when I bought 530 in 2002) off the US price, and isn't apple to apple comparison.
2007 335i Coupe, 6-spd manual
36 month lease
10,000 miles per year
Residual 61%
$4200.00 refundable security deposits
.00176 (4.224%) money factor, interest rate.
Total drive off $8578.32, includes 1st payment ($600), cap. reduction $3163.41, sales tax $245.16, license,dmv, $369.75, and security deposits of $4200.00.
Selling price $45,700.00
Base payment $556.84
Monthly tax $43.16
Total monthly payment $600.00.
Anyone shed some light on this and tell me if this is a good deal? Car's in excellent condition (titanium silver color).
KBB private party value is $25,425.
Retail Value is $28,275.
Also, if you know about the comon problems in this model that have been reported, please post.
Thanks in advance!
I'm using the following formula found elsewhere here on the forum (Thank you to the contributor!!).
S = Sell price = 45,700.00
A = Acquisition Fee = 825.00
M = Money Factor = 0.00176 (this was lowered by my 4,200 sec deposit, or 7 x 600/mo. I think orig MF was .00200)
N = Term = 36 months
R = Residual = 27,877 (61% x 45,700)
P = Monthly Lease Payment excluding tax
P* = Monthly Lease Payment including tax
t = Sales tax Rate = 7.75%
Down Payment/Cap reduction: $3163.41 (to get the $600/mo incl tax)
Annual Mileage: 10K
Disposition Fee?: NO
Excess Mileage Charge: 0.15 per mile
Sales Tax: Computed on the payment streams
Capitalized Amounts: Acquisition Fee Only
Basic Money Factor Formula:
Note: Selling price - Cap reduction = $42536.59 = adjusted S
P = M(S+A+R)+(S+A-R)/N
P = 0.00176(42536.59+825+27877)+(42536.59+825-27877)/36
P = 555.51 (close enough to quote)
Tax Formula:
P* = P(1+t)
P* = 555.51(1.0775)
P* = 598.56 (close enough to quote)
Looks like I'm paying MSRP for this car, to arrive at the $600/mo incl tax. Any room for negotiations, don't know but sure will try to get closer to TMV
So, Base MSRP $40,800 plus Options ZSP + ZPP + Met Paint + Dest = $45,700 = stated Selling Price.
Anyone have comments on the above, please do chime in?
I agree that you make many valid points. It is not fair for people to expect to get something for nothing. And while there is nothing wrong with suggesting more efficient ways for products to be sold, or "damning" the middle men, in our current system honest people need to make a wage.
But, I think you have to admit that much of the distrust of today's car buyer is a result of sleazy sales tactics of many car dealers. I'm 54, and for decades the "real" price of a car and its options was impossible for a consumer to determine. And we need to mention the "last minute" additions of finance charges, "bank" fees, widget costs... whatever. The internet has, to some extent, leveled the playing field, to the dismay of dealers.
My wife and I have purchased four BMWs in the past. I am generally happy with the company. But, in each purchase I had to leave the dealership and wait days or weeks before they would give me the "real" price.
You make good points. But, there is another side to the story, don't you agree?
Price w/ot taxes :39,310
OTD price: $42,957
A53 Platinum Bronze Metallic 475
LCGE Cream Beige Dakota Leather N/C
ZCW Cold Weather Package 600
464 Ski bag N/C
494 Heated front seats N/C
ZPP Premium Package 3,250.00
319 Universal Garage Door Opener N/C
430 Auto-dimming mirrors N/C
431 Auto-dimming rearview mirror N/C
459 Power front seats N/C
488 Lumbar support N/C
4NA Digital compass mirror N/C
639 BMW Assist N/C
203 All-wheel drive N/C
205 STEPTRONIC automatic trans. 1,275.00
4AC Light Poplar Natural wood trim N/C
Net Total 42,700.00
Destination Charge 775
Gas Guzzler Tax N/C
Total Suggested Price 43,475.00
really dont know about the price for BMW, so for this vehicle, what is the best price? sedan is about 40,000.
Paying cash, not leasing.
and anyone could tell the diffence between AWD and RWD?
Thanks for any help
2) I'd be hesitant to put such a large down payment on the car. If you were to get into an accident and total the car, the down payment would be lost. It doesn't hurt to have the extra money in your pocket for the time being; you end up paying the same amount whether it be over time or with a large sum up front.
That quote sounds sounds very high to me. Shop around to confirm that, but I would expect something around $475/month with around $1000-2000 down.
Talk to your dealer about MSDs--it's a great way to improve your deal, yet still get the money back at the end of your lease. If you do the math, it's usually a decent rate of return.
Thanks to all!!!!
Mike
I'm in the market now too. I found that a wholesale price list posted on www.bimmerfest.com very useful. Our host KDFX already put the link in this forum, so you can look up the link. I live in Dallas and most of dealers are not willing to negotiate. Other users at bimmerfest suggested that I go to smaller dealership such as one in Tyler or Temple and get a competitive quote and ask dealers in Dallas to beat it. I don't know whether you have already tried that, but I got a quote from a dealer saying that he can give me one with $750 over invoice.
Hope this helps.
JJET
Did you ever call Specialty Auto Leasing? If so, how did you make out?
I've called weleasebytel.com about 3 times and left a message for Mike. He has yet to return my call.
As long as Specialty is legit, I think I will lease through them.
amazing enough, I am finding this to be common practice for many of these online brokers....they just wont call back. I've called or e-mailed half a dozen of them with little or no response. I honestly don't recall speaking to Specialty One. Maybe I'll check with them again. But if no one wants to return my call it is not my loss..
(edit) the more I think of it, I do recall speaking to them. They sent a list of available 335s sent to me via email, I responded letting them know of the one I wanted and asked for a quote and never got a reply. I'll never hound someone to give my business to them....call me back or take a hike.
Security $400
Bank / Cap $1000
Tax $1261
Monthly $397
total due at signing approx $3121 incl tax
Does this seem like a good deal? I am new to leasing and would greatly appreciate expert comments
Thanks
Thanks you SO MUCH for the assistance!!!!! You know what I mean by "laughing and haaviing dinner on the consumer. I know nothing is free, but I also believe in fairness!
10 thousnds thanks and I'll be looking @www.bimmerfest.com TODAY!!! Hope I can help you someday!!!!
Mike
The car was absolutely great in the snow with them.
They made a mistake and said they have only one season on them, it was 2 but the tread wear is still fine- you can see the penny test. Anyway, if someone needs a set check out ebay- I think they started the bidding at around 50 bucks. Personally, I prefer the rwd bmw s with snows to the all wheel drive with all seasons. I went for the sport package on my 5 just as I did on the 3 and I will have to buy another wheel and tire package but I just didn't want to give up the goodies on the sport package- suspension, sport auto, ARS. So I will spend a few extra bucks and get great performance year round for a twice a year hassle vs good handling year round with no tire change.
Anyone else get this? Is it a junk fee? I guess this is to be expected as we consumers drive for invoice pricing...the dealers have to get their profit out of ad fees and the like.
Here's what I about to lease:
328i sedan with:
premium package
xenon lights
auto trans.
metallic paint
ipod adapter
Retail w/ destination: $39,375
Invoice + destination: $36,360
I'm being offered the car @ $36,900
Here's the deal:
(1) ZERO MONEY DOWN
(2) 12K miles per year
(3) 36 months
(4) Monthly payment including tax: $543 per month.
Is the above a good deal? If someone can show me their calculations I would be most grateful. I'm going in to the dealer tomorrow in Southern California and getting this car.
Dan
This seems like a very good deal. Is this 07 or 08? Which dealer are you getting this car from? I am also planning to purchase a similarly equipped 328.
Thanks.
Do you happen to know the calculation formulas to figure out the money factor (I think it's .00160) and the other formulas to consider? It would be greatly appreciated.
msrp 45420 (sale price 43365)
6sp
crimson/blk
prem, sport, heated seats, sirius, ipod/usb adapter
36mo/10k miles
only 711.07 due up front.
I think I stole it for 597.57/month.
Keith
Here is BMWFS for October
36 Month – Residual 61% of MSRP – .00165 Base Rate
The formula:
(Cap Cost – Residual Value) / Term = Depreciation
(Cap Cost + Residual Value) X Money Factor = Interest
Depreciation + Interest = Base Monthly Payment
Here are some apparently goods deals Irvine BMW and Shelly BMW are offering on their website
NEW 2007 328i Sedan! Automatic & Xenon! 5 at this lease ay SHELLY BMW
Lease for $298/mo. + Tax
24 Month Lease On Approved Credit
$4995 due at lease inception.
No security deposit required.
Lessee responsible at lease end for mileage over 10,000 miles per year at 20 cents per mile.
NEW 2007 328i Sedan! Platinum Bronze, Leatherette, Automatic & Navigation lease IRVINE BMW
Lease for $295/mo. + Tax
24 Month Lease, 10K per yr.
$5000 total drive off
As for Acquisition fee should only be $625 which Shelly BMW does charge, but Crevier and Sterling are a rip-off they ask for $825
Always ask the dealer to break down the acquisicion fee.
good luck.
I realize that I could get lower costs, but then for me the whole idea of leasing misses the point. I don't want to give away my upfront money for lower payments.
To Nacho2, the deal I was quoted (see 413 in this thread) is that a good deal at no money down? I was quoted a price of $36,900 (slightly over invoice). Monthly payments at $543 per month includes tax.
Dan
Dan
Jet Black, leatherette, Sirius (BMW pays first year subscription), Logic7 stereo, power seats, automatic and BMW assist w Bluetooth.
30 months @ $530 per, including sales tax. $2,400 down, including first month, sec dep ($550), $695 bank fee, $250 documentation fee, $195 DMV fee plus the Vin inscription etching thing. MF was 3.9% according to Jerry. Don't know the Residual.
I think MSRP was $39,900, including the $775. I paid $38,500, inc $775. Got add'l $400 off after their first offer of $38,900. I believe I could have gotten more off (as my dad said who was with me at the time, "you never know what the bottom price actually is"), but at that point it was not worth the further negotiating to me. I got the price level I was looking for.
One other point for those looking @ the 335. This car has a sport mode, which he had me in leaving the dealer, and when I had to haul [non-permissible content removed] out of the dealer to try and get onto Rte 17, I almost blacked out it took off so fast. Check it out. You can save urselves $4000-$5000.
Good luck Keith
I had absolutely no out of pocket. But just to let you know, I have a first tier credit rating. I went through BMW financial services of NA.
Auto
Heated front seats
Navigation
Sirius
Premium package
Dealer quote is $38,465 before tax...including tags, floor mats.
Sound like a good deal?