If the dealer uses BMWFS for the lease, they are given a money factor, which they can then mark up.. The maximum markup is .0004... You can have the security deposit waived, which will add another .00015, and you can have the acquisition fee waived, which would add another .0003.. On top of this, if you opt for European Delivery, you have to add another .0003... I don't recommend doing any of the waivers..
So, the dealer is correct only insofar as they can mark up the rate by .0004 for extra profit. I'd try to find a dealer that was forthcoming about money factors, and insist on the base rate.
Your salesperson might have just been spouting a money factor number he saw on one lease deal.. some salespeople leave the finance details to the finance office... Last month, the 3-series had a base rate of .00255.. If they marked it up the maximum, and added .00015 for the security deposit waiver, that would equal the .0031 that he quoted.... I'd guess that is where he got that number.
Guys...I need your input in this one. I broke down and purchased 2006-530i w/ prem. pkg, sprt pkg, sound pkg, sat radio, and nav for $1000K over the invoice.
During finance, they wanted me to pay $300.00 for vehicle prepration fee, the dealer told me that it was a normal charge and all the dealers charge that fee.
I had an argument with the sales manager, since it was not disclosed to me during the negotiation...they ended up not charging me the fee afterall.
Wanted to find out if this is a legit charge or the dealership was trying to con me into it???
kyfdx thank you very much very valuable info, i called another dealer he sais the MF now 0.21 but he said next week they will have new rates?
so to get good deal for the 530i 2006 target <700/month 36/12k MF 0.021 prempkg+sportpkg
from another forum:: invoice 42495 + PREM PKG 1710 + SPORT 2070 = 446275 + 1500(OVER THE INVOICE) + 675 = 48425 IS THE 48425 is this the purchase price that many people getting or the dealers have different invoice price???
also how many additional fees I missed :confuse: ?? NO MACO FEE good news its only in LA
so iwill start faxing my final offer to dealers within 100 mile radius :P
Vehicle prep fee... aka additional dealer profit.. No different than a $300 document fee.. Just another way to jack up the price that you thought was already agreed to...
I don't know if they were trying to con you into it... It is probably SOP for them.. they probably add it to every deal.
Just purchased a 2005 545 (3/05 production), sport package, premium audio. The car comes with a spare tire (not run flats) and I'm told by the dealer that run flats are an option. Also no CD changer, although it does have Logic 7. Is this right? O/W, the car drives great. Tks in advance
I plan to buy a new 05 545i with Sport pkg, and a few extras, like chrome wheels, etc. When I bought (new) my 99 528i, I negotiated 3% above invoice. Back then, the 528 was moderately in demand, and not a new model, which helped keep the price low. I **believe** that the 545i is selling so-so (I see plenty of 525 & 530, but few 545), and since it's on its way out for the 550, I'm thinking 2-3% above invoice sounds good, and two dealers I visited are willing to sit down and negotiate (at least, so they say). I would appreciate any opinion/feedback on this. Thanks much!
Try Passport BMW in Maryland (outside of Washington DC). I know several people who have gotten ED discounts from them in the past. They went as low as $1,200 over invoice on a business associates 530i about two years ago. I haven't yet contacted them on the 550i, as I will likely go through my hometown PA dealer. They don't generally discount ED, but have agreed to the $1,500 over ED invoice for me based upon some other referrals.
mexibec,
Depending upon where you are, I would think 2-3% over invoice on the 545i is very achievable. Word is beginning to get around on the 550i and, according to my hometown dealer, if they have any 545i's left by mid summer, they will "give them away" at $0 profit. That's $1,500 under invoice given the holdback, assuming no additional facotry incentives. I believe them, as they offered me an outgoing 540i 6-speed a couple of years ago at $4,500 under invoice.
However, for anyone considering a 545i, why wouldn't you wait for the 550i? If the answer is "the extra power doens't mean that much", then get a 530i and save even more. But if you really want V8 performance, everyone at my dealership over Memorial Day was counting the days until the 550i arrives. It comes close to matching the former M5 in power to weight and the 7-series difference between the 745i and 750i has them all extremely impressed.
For those that said the 545i isn't discontinued, it is for ED and my dealership is not taking any more 545i's for the rest of the year. They are a small dealership with 3 in stock and they don't want to get burned.
I am looking to lease either a 525/530 in the next couple of weeks in Texas. I am considering putting nothing down and rolling all fees and taxes into the lease. Lease term 36 months and 15K miles annually. I am a complete leasing novice. Can anyone give me pricing and process information so I can negotiate the best possible deal? Any help anyone can offer would be greatly appreciated. Thanks.
ok so im in the market for an '06 525. after negotiating a good all-in price (invoice + 1200) i was a little dismayed at the lease cost ... about 675/mo with zero down (except the 2400 due at signing). that MF really hurts. i was hoping to get it down in the low to mid 500's.
SO....the dealer, whom ive been bugging for several months now (and he is a good guy), said he was talking to the big-boss at his dealership and his boss ok'd for them to get me a 05 545 for 699.00 a month with total due at signing being taxes and the normal BMW fees (adds up to about 4200)
now that is the lowest ive ever seen a 545 go for (ive been montioring this board and others for months) and am actually contemplating it. i dont have any real details of the car yet...options, discount from msrp...etc yet.
700 does seem kinda steep for ANY car really, but considering its a 545, i think its a bargain.
what do you all think? pull the trigger or get something else?
I posted this on the E90 board, but to be fair I feel the opinions of this board would be very valuable too:
Need some advice from fellow BMW lovers and experts.
My budget allows about $40K towards a new vehicle. The 2006 3 series is high on my list, but I realized I can get a low mileage, well equipped, 2004 525i CPO for about the same price.
What say you? I realize at some level it is a personal choice, but what are the basic points for and against each of these beauties?
I'm just learning this process, so I'm clearly not an expert. But, $4200 up front is a lot of money. The teaching is not to pay down the cap cost. I wouldn't "pull the trigger" yet.
have you considered doing ED? I know one guy from another bimmer forum who ordered his 545 (bl sapphire/auburn/nav/sport pkg/logic 7/cwp/sirius) on 5/26; pickup 7/22. $605/month.
You really can't go wrong with either one. If you don't care whether you buy new or cpo, and design is not an issue, then drive them both and see which one you prefer.
Money down is: Security Deposit of 750, first month payment 744.45, and license fee of 388, for a total down of $1,882.45. They also want an $850 bank fee but I will ask them to waive it...
2) They can't waive the bank fee, without bumping up the money factor.. The fee goes to BMWFS. However, the base fee is $625, not $850.
So, if you are happy with the selling price, then ask them to use the base money factor (.00195), and only charge $625 for the acquisition (bank) fee, and you are all set.. Using the base money factor will result in a payment about $20/mo. less than the one you were quoted.. If you don't want to pay the acquistion fee upfront (and I wouldn't), then ask them to roll it (only $625) into the cap cost..
Coupled with the base money factor, this will bring your payment back up around that original $744/mo. I'm assuming that is with tax included?
Why are you paying the taxes up front? Roll them into the cost of your lease. If your car gets stolen or totalled during the lease, the state keeps its money and you don't get it back from insurance.
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD
I just got the following quote for a 2005 545I with following options: Cold Weather pkg; NAV; sports package; premium sound; automatic. The salesman said the car could be marked down as a demo ( it is not a demo) to an invoice price of a little over $59K. I need a 3 yr lease with 20K annual miles built in and no down other than the initial costs ( about $2100 including 1st months lease payment). These are my company's criteria. The quote was $902 per month. Is this a good deal? I have never leased before, always paid cash ( keeping my M3). How do I make sure I am getting the best deal. BTW - I picked this model because I was told I would get a better deal on this than a 2006 530I plus I would get the bigger engine.
I feel that it maybe better to get 15K per year lease that should result in something like $750 month assuming near invoice price (I maybe of by $10-$15 here) and buy additional miles from BMWFS at 16 cents per mile. Should be around $67 month. Probably you can buy them upfront for the same (or better) price. Anyway a good deal should be around $800-$820.
Any thoughts on the following: My 2002 325i lease is up in a month and I am debating leasing a 2006 330i vs a 2005 545i. The money factor is only .001 on the 545 and is around .0029(with dealer mark-up) on the 330i. Comparably equipped, with nothing down: 330i(MSRP about $44,000) is about $675 a month(pre-tax), 36 months, 36,000 miles. 545i(MSRP about $61,000) is about $700 a month(pre-tax), 36 months, 36,000 miles. From a value standpoint, it seems like the 545i is a no-brainer. Opinions? Thanks. hpowders :confuse:
I agree: no brainer. go with the 545. It's a better car with better options. I think the smg is a free option right now. You'll be paying more in gas, but then again you could buy a hybrid instead. It would be foolish not to go with the 545 lease. Speaking of the marked up 330 lease MF. Just call other dealerships or negotiate. You will be able to get it down to base.
You are renting a car for the next three years... What do you want to drive?
If you really want the 330i, getting a better deal on the 545i won't mean much.. The big consideration for me would be gas mileage.. You'll probably average 22-25 MPG with the 3-series.. and 14-18 MPG with the 545i..
But, there is no doubt.. the 545i is a screaming lease deal right now, if that is the way you decide to go.. I do think that you could knock about $50/mo. off that 3-series lease deal with a little aggressive shopping..
I guess by renting for only 2.4%(1.8% with 5 security deposits up front) on the 545, the gas will sort of pay for itself. I do mostly highway driving anyway. My main concern is the reliability factor. The 3's are usually more reliable than the 5's. But then again, the 3 is a new model. Who knows what potential nightmares are in store with Comfort Access. I can imagine pushing the start button in a parking lot far from home with nothing happening. The number one car reviewer on epinions.com just gave the 2006 330i with sports package a total rave. Tough call. Thanks. hpowders
i disagree. doing my research ive found the E60 to be surprisingly VERY reliable. just look at most internet boards you will see very few owners complain about things going wrong. if u want an eye-opener, just go look at a typical mercedes forum, and the C-class in particular, and you'll be shocked (at least i was) at how many problems they have.
I'm planning on buying a 2006 525i. In some places I have read that the navigation system is standard in this model. However, what confuses me is why a navigation system is still being offered as an option. Is there a difference between the two? If there is then is it worth paying the extra $1800 for the option?
Nav system is NOT standard equipment. Is it worth it? It's up to you. If you'll use it, then yes. If not, then no. My nav system made my travel thru Europe a breeze. I doubt I'll use it much in the states. I'm hoping to upgrade my system to a dvd/tv tuner. There are OEM options now.
Sorry for the late reply...things have been little hectic as of late.
I got 2006-530i with prem pkg, sprts pkg, prem sound pkg, auto transmission, satelite radio and navigation. The invoice came out to $52,380.00 + $1,000 over invoice and $57,984.19 "out the door" with tax and license and other misc fees.
The exterior is titanium grey with black interior. I bought the car and my payment is around $1020 month for four years loan.
I hope this helps others to negotiate same price as this or better price. Thanks to all in the fourm for helping me out.
I am not familiar with BMWFS? Why is it cheaper to buy the miles outside the lease? What do you think they are charging per mile under the lease. I am pretty constant in miles per year - 20K is a good bet, but it could vary either way by 2K per year. also my partners tell me that at 30 months, BMW will try to get me to recommit to a new car, and are usually willing to make a deal on the remaining milage under the existing lease, i.e giv a credi or wipe out any overage.
since my lasty post, another dealer with the same car came back at &870 with 20k miles and tax included. He said this is as good as he can do. But this is nowhere near the $800 /mo you are suggesting. What do you think is the difference between these dealers and your $$?
Here is a current offer I have: Please let me know if you think it is a good deal or not.
2004 525i 14,000 miles Premium, Cold, Auto, Xenon $37,500
Also I am planning on leasing this vehicle. I have never leased before (always used traditional financing) What do I need to negotiate? Money Factor? Residual? Is there a special by BMWFS on CPO financing/leasing?
I am looking to order a 2006 530xi in the Boston area right away. One dealership that i have spoken to wants MSRP and will not do any better because of "high demand and low availability" (they also want me to wait 2 months for it).
I understand supply-demand economics, but wanted to check how real this is for the 530xi. Does anybody have any experience ordering a 530xi in the Boston area for under MSRP?
Here are the numbers I came up with for your car: MSRP - $64,145, Invoice - $58,825. Selling price - $59,000. MF - 0.001, 36 month/45K miles residual - 57%. Monthly payment $719 + $43 tax (6% NJ) = $762. Now you need 15K miles more. You can buy them upfront and it supposed to be cheaper. You can also buy them later from BMWFS up until last 9 month of the lease and the price is $0.16 per mile. So if you go this way the additional miles should cost you $2,400 + 6% NJ tax = $2,544 or approximately $71 per month. So if you lease the car for 15K/year and buy the additional mileage later you total monthly payment should be around $832 including the tax but not including the acquisition fee. If you include the AF it will add around $18/month. Looks like I’ve underestimated residual drop to 57%. Anyway I would ask the dealer what is their best price for 15K mile per year lease and then decide if I want to buy additional miles upfront or buy them later. BTW on my last lease I was 4,500 miles over the limit and did not have to pay for those miles. My dealer (not BMFS) bought the car from BMFS from me. Looks like they can buy cars from BMWFS for much lower prices than residuals.
Okay. He's lucky. But he will pay dearly for 20,000 miles a year. I got an offer of $1500 over invoice on the 545.($54675 cap. cost, $58170 MSRP). I will probably take it rather than risk next month's residual going down to 58% from 59%(36 months, 36,000miles). With a .001 money factor, you can't go wrong.
Just signed a lease for a 530i for 36 months/15K per year. This forum was helpful to me in that I was more prepared as I entered the lease. Here are the final numbers. Hope they will help others gage what deals (or ripoffs) are out there.
We agreed on the price of $51,661.73 (MSRP on this vehicle is $53,940). I was upside down on my trade in to the tune of $6,266.26. There was also a bank fee of $825.00 added in for a total gross cap cost of $58,752.99
I put cash down of $5,000 ($900 for security deposit; 899.78 first months payment; 2,544.29 cap cost reduction for trade in; 405.00 lic fee; $197.18 cap cost reduction tax; 45.00 doc fee; 8.75 tire fee).
Thus final numbers are:
Gross Cap: 58,752.99 Cap Reduction: 2,544.29 Adjusted Cap: 56,208.70 Residual Value: 32,364.00 (apparently 57 and 1/2 residual?? I know it was supposed to be 60%) Money Factor: .00195 Total Monthly: 835.06 + 64.72 tax = $899.78
Not sure if I got a good deal or not... opinions?? Thanks, and hope this helps others currently looking...
kyfdx... thanks for your input. And thanks for not pointing out by bonehead move of having over $6,200 in negative equity... it is a long sad story, and I have learned a very painful and expensive lesson. When I first started looking for the 530i the dealership said I was over $10,000 in negative equity. I got three dealerships to work against each other and when I got within $500 difference of all 3 offers I chose the dealership that gave me the best lease deal. Anyway, won't make that mistake again...
You are very helpful on these forums. In my household you are much appreciated!
Once I decided that I wanted the '06 530xi I went to two different dealerhsips (in Maryland). After test driving and expressing an interest in ordering the car I was initially told by one salesman that he might be able to get a couple hundred off the msrp and that it's a new car and would be hard to discount further. The second dealer said $1500 off msrp right away. So then I configured the car on "build your own" and presented the printout to both dealers and said I want $2500 off the msrp. I had to go back and forth between the two dealers but I ultimately got my price. The dealer that didn't get my business said, "aren't you going to let me match the price?". I said you had plenty of opportunity to give me my price, first come, first served. I ordered about 4 weeks ago and should be taking delivery in another 4 weeks , hopefully. Good Luck!!!!
Thanks for your response. You definitely got a good deal. I hate having to do this back-and-forth but I guess that is what you have to do. I will shop around in the area.
Comments
So, the dealer is correct only insofar as they can mark up the rate by .0004 for extra profit. I'd try to find a dealer that was forthcoming about money factors, and insist on the base rate.
Your salesperson might have just been spouting a money factor number he saw on one lease deal.. some salespeople leave the finance details to the finance office... Last month, the 3-series had a base rate of .00255.. If they marked it up the maximum, and added .00015 for the security deposit waiver, that would equal the .0031 that he quoted.... I'd guess that is where he got that number.
regards,
kyfdx
regards,
kyfdx
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During finance, they wanted me to pay $300.00 for vehicle prepration fee, the dealer told me that it was a normal charge and all the dealers charge that fee.
I had an argument with the sales manager, since it was not disclosed to me during the negotiation...they ended up not charging me the fee afterall.
Wanted to find out if this is a legit charge or the dealership was trying to con me into it???
Thanks guys.
thank you very much very valuable info, i called another dealer he sais the MF now 0.21 but he said next week they will have new rates?
so to get good deal for the 530i 2006 target <700/month 36/12k MF 0.021
prempkg+sportpkg
from another forum::
invoice 42495 + PREM PKG 1710 + SPORT 2070 = 446275 + 1500(OVER THE INVOICE) + 675 = 48425
IS THE 48425 is this the purchase price that many people getting or the dealers have different invoice price???
also how many additional fees I missed :confuse: ??
NO MACO FEE good news its only in LA
so iwill start faxing my final offer to dealers within 100 mile radius :P
I don't know if they were trying to con you into it... It is probably SOP for them.. they probably add it to every deal.
regards,
kyfdx
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The car comes with a spare tire (not run flats) and I'm told by the dealer that run flats are an option. Also no CD changer, although it does have Logic 7. Is this right? O/W, the car drives great.
Tks in advance
1- ask them about there hidden fees upfront
2-what is there invoice price?? and compare it to mine
kyfdx
do u think they will show there invoice price or they go by the MSRP only from BMW WEB SITE??
thanks again
mexibec,
Depending upon where you are, I would think 2-3% over invoice on the 545i is very achievable. Word is beginning to get around on the 550i and, according to my hometown dealer, if they have any 545i's left by mid summer, they will "give them away" at $0 profit. That's $1,500 under invoice given the holdback, assuming no additional facotry incentives. I believe them, as they offered me an outgoing 540i 6-speed a couple of years ago at $4,500 under invoice.
However, for anyone considering a 545i, why wouldn't you wait for the 550i? If the answer is "the extra power doens't mean that much", then get a 530i and save even more. But if you really want V8 performance, everyone at my dealership over Memorial Day was counting the days until the 550i arrives. It comes close to matching the former M5 in power to weight and the 7-series difference between the 745i and 750i has them all extremely impressed.
For those that said the 545i isn't discontinued, it is for ED and my dealership is not taking any more 545i's for the rest of the year. They are a small dealership with 3 in stock and they don't want to get burned.
I didn't check the price on 550i, since the dealrs I talked to didn't have any info on it. I just bought a 06-530i for $1K over invoice in Irvine, Ca.
Thanks kyfdx for your input. I want to thank everyone on this board for making me a ejumucated buyer.....
fisrt cograts enjoy the nice car. if you dont mind asking:
what was the invoice price? did you buy or lease, whats is you monthly payment?
colour options etc..
thanks
SO....the dealer, whom ive been bugging for several months now (and he is a good guy), said he was talking to the big-boss at his dealership and his boss ok'd for them to get me a 05 545 for 699.00 a month with total due at signing being taxes and the normal BMW fees (adds up to about 4200)
now that is the lowest ive ever seen a 545 go for (ive been montioring this board and others for months) and am actually contemplating it. i dont have any real details of the car yet...options, discount from msrp...etc yet.
700 does seem kinda steep for ANY car really, but considering its a 545, i think its a bargain.
what do you all think? pull the trigger or get something else?
I posted this on the E90 board, but to be fair I feel the opinions of this board would be very valuable too:
Need some advice from fellow BMW lovers and experts.
My budget allows about $40K towards a new vehicle.
The 2006 3 series is high on my list, but I realized I can get a low mileage, well equipped, 2004 525i CPO for about the same price.
What say you? I realize at some level it is a personal choice, but what are the basic points for and against each of these beauties?
Thanks all for your time.
Pondering in Texas....
after a little research though, his 700/mo deal is not all that great when i found out what options the car had.
oh well, got a little excited there for a sec, back to the drawing board now.
have you considered doing ED? I know one guy from another bimmer forum who ordered his 545 (bl sapphire/auburn/nav/sport pkg/logic 7/cwp/sirius) on 5/26; pickup 7/22. $605/month.
MSRP: 50,270
Cap: 48,660
Money Factor: .00225
Residual: 60%
Money down is: Security Deposit of 750, first month payment 744.45, and license fee of 388, for a total down of $1,882.45. They also want an $850 bank fee but I will ask them to waive it...
Total payment is $744.45 per month for 36 months
Comments? Suggestions? Good deal? Bad deal?
Thanks...
2) They can't waive the bank fee, without bumping up the money factor.. The fee goes to BMWFS. However, the base fee is $625, not $850.
So, if you are happy with the selling price, then ask them to use the base money factor (.00195), and only charge $625 for the acquisition (bank) fee, and you are all set.. Using the base money factor will result in a payment about $20/mo. less than the one you were quoted.. If you don't want to pay the acquistion fee upfront (and I wouldn't), then ask them to roll it (only $625) into the cap cost..
Coupled with the base money factor, this will bring your payment back up around that original $744/mo. I'm assuming that is with tax included?
regards,
kyfdx
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My 2002 325i lease is up in a month and I am debating leasing a 2006 330i vs a 2005 545i.
The money factor is only .001 on the 545 and is around .0029(with dealer mark-up) on the 330i.
Comparably equipped, with nothing down:
330i(MSRP about $44,000) is about $675 a month(pre-tax), 36 months, 36,000 miles.
545i(MSRP about $61,000) is about $700 a month(pre-tax), 36 months, 36,000 miles.
From a value standpoint, it seems like the 545i is a no-brainer.
Opinions?
Thanks.
hpowders :confuse:
good luck.
Thanks.
If you really want the 330i, getting a better deal on the 545i won't mean much.. The big consideration for me would be gas mileage.. You'll probably average 22-25 MPG with the 3-series.. and 14-18 MPG with the 545i..
But, there is no doubt.. the 545i is a screaming lease deal right now, if that is the way you decide to go.. I do think that you could knock about $50/mo. off that 3-series lease deal with a little aggressive shopping..
regards,
kyfdx
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My main concern is the reliability factor. The 3's are usually more reliable than the 5's. But then again, the 3 is a new model. Who knows what potential nightmares are in store with Comfort Access. I can imagine pushing the start button in a parking lot far from home with nothing happening.
The number one car reviewer on epinions.com just gave the 2006 330i with sports package a total rave.
Tough call.
Thanks.
hpowders
if u want an eye-opener, just go look at a typical mercedes forum, and the C-class in particular, and you'll be shocked (at least i was) at how many problems they have.
I got 2006-530i with prem pkg, sprts pkg, prem sound pkg, auto transmission, satelite radio and navigation. The invoice came out to $52,380.00 + $1,000 over invoice and $57,984.19 "out the door" with tax and license and other misc fees.
The exterior is titanium grey with black interior. I bought the car and my payment is around $1020 month for four years loan.
I hope this helps others to negotiate same price as this or better price. Thanks to all in the fourm for helping me out.
1st time to post here. I am preparing to get myself ready to lease a 2006 525i. Before that happens, 2 years ago, I helped my brother lease a:
2003 325i (taken from his lease agreement form)
Auto/Moonroof/Leatherette (pretty basic)
Term 42 months
Base Monthly $365.86, with tax $392.38
Due at lease signing: $2500 includes:
Cap Cost Red: $1202.44
1st Monthly Payment: $392.38
License Fees: $243
Acquisition Fee: $525
Sales Tax on Cap Cost Red: $87.18
CA Tire Fee: 5.00
Doc Fee: 45.00
Gross Capitalize Cost: 31,311
Cap Cost Reduction: 1202.44
Adj Cap Cost: $30,108.56
Residual Value: 18082.40
Depreciation and Amortized Amts: 12026.16
Rent Charge: 3339.84
It's already Saturday night, I don't know what Money Factor was charged. However, based on that scenario, was that a good/bad deal.
I'm hoping to get a:
2006 525i
Auto
Premium Pkg
What's a good selling price that I should be looking at?
Thanks for your input.
jason
since my lasty post, another dealer with the same car came back at &870 with 20k miles and tax included. He said this is as good as he can do. But this is nowhere near the $800 /mo you are suggesting. What do you think is the difference between these dealers and your $$?
2004 525i
14,000 miles
Premium, Cold, Auto, Xenon
$37,500
Also I am planning on leasing this vehicle.
I have never leased before (always used traditional financing)
What do I need to negotiate? Money Factor? Residual?
Is there a special by BMWFS on CPO financing/leasing?
Any help is greatly appreciated.
I understand supply-demand economics, but wanted to check how real this is for the 530xi. Does anybody have any experience ordering a 530xi in the Boston area for under MSRP?
Thanks.
I got an offer of $1500 over invoice on the 545.($54675 cap. cost, $58170 MSRP). I will probably take it rather than risk next month's residual going down to 58% from 59%(36 months, 36,000miles).
With a .001 money factor, you can't go wrong.
We agreed on the price of $51,661.73 (MSRP on this vehicle is $53,940).
I was upside down on my trade in to the tune of $6,266.26. There was also a bank fee of $825.00 added in for a total gross cap cost of $58,752.99
I put cash down of $5,000 ($900 for security deposit; 899.78 first months payment; 2,544.29 cap cost reduction for trade in; 405.00 lic fee; $197.18 cap cost reduction tax; 45.00 doc fee; 8.75 tire fee).
Thus final numbers are:
Gross Cap: 58,752.99
Cap Reduction: 2,544.29
Adjusted Cap: 56,208.70
Residual Value: 32,364.00 (apparently 57 and 1/2 residual?? I know it was supposed to be 60%)
Money Factor: .00195
Total Monthly: 835.06 + 64.72 tax = $899.78
Not sure if I got a good deal or not... opinions?? Thanks, and hope this helps others currently looking...
Since the cap cost reduction went to payoff some of your negative equity, I have no problem with that...
You got the base money factor, so that is good...
The only bump I see is an extra $200 on the acquisition fee..
$2300 off MSRP on a new model.. looks okay..
Everything else adds up... A well-negotiated lease deal..
I'll try to avoid commenting on how prudent it is to be trading a car with $6200 of negative equity...
regards,
kyfdx
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Did you get a good deal? Be sure to come back and share!
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You are very helpful on these forums. In my household you are much appreciated!
Thanks again...