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It's a pretty cool internet site that brings buyers and sellers together and allows customers to release someone else's vehicle without all the big costs associated with terminating a lease early.
Because of the high residuals owed to the finance company that allow for lower lease mo. payments, it's pretty hard to sell your leased car and not get smacked finacially.
This may or may not be a good option for you but you might want to at least check it out.
Just wanted to pass along the info.
I looked into swapalease, but Infiniti is one of the few leasing companies that will not completely release you from obligagtion when someone take over your lease. You remain on as a co-signer. Also, at $586/mo for the next 48 months, my car is not exactly a bargain.
Depending on how much cash I need to shell out up front, if I can save $100/mo or so on payments I can come out on top in the long run. The payment that kyfdx came up with would be perfect.
2004 X3 3.0
Steptronic
Sunroof
Privacy Glass
Leatherette
MSRP $40,520
Best they could do was Invoice + $1000 but they would eliminate some fees so that it was close to Invoice + $500. I'm still waiting for them to call back with final number.
Money Factor .070
Residual 57%
Does the money factor make sense?
The X3 3.0 has a money factor of .0005
57% residual would be for 15K miles per year.
Looks like they are bumping up the MF, or might just have misquoted the 2.5 model MF. There are a lot of different MFs to keep up with, with all the different series and models.. would be easy to misquote that number.
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Answer:
Is $400 profit on a $33000 item ridiculous?
2016 Audi A7 3.0T S Line, 2021 Subaru WRX
if you end up with such a deal, and the dealer will only make $400 profit, how can you expect to get a freebies like mats thrown in. Those cost $$$ too.
Be happy you got such a good deal, if you don't want the mats don't take them!
2016 Audi A7 3.0T S Line, 2021 Subaru WRX
If the truck is a 2004, try to get closer to invoice ~ try to get it for $250-$500 over invoice. This dollar amount should include everything except for TTT.
I will wait for the 05 models and get one.
will let you know when i got one.
Is the navigation system in BMW works good or not impressive?
Thanks again
Ridiculous.? .. hmmm, dealer has a $33,000 investment and you feel he can't make a profit on the floormats.? ... do you send last years Easter candy as this years Christmas present.? .... enjoy the vehicle, it's a Bimmer, not a Cavalier ................
Terry.
2016 Audi A7 3.0T S Line, 2021 Subaru WRX
1. hammer out details of new car
2. negotiate price
3. get ETA... about 2 months
4. leave deposit ($1000 or so). this is refundable as long as they feel the vehicle is sellable if the deal falls through.
5. wait
6. negotiate lease deal when vehicle is in. this is the biggest question mark because there's no way to know what deals will be out there in December / January when the vehicle would be due in.
Does this sound like SOP?
However, if your delivery is delayed, there are no exceptions.... Once your lock period expires, you must use the program currently in place..
regards,
kyfdx
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I just placed an order for '05 X3 3.0i, auto, premium, heated seats, privacy gls, sat prep, Nav system for MSRP $41,995, sell price $40,995. Now that's a deal.
- Mark
I agree the '05's are a better deal and the interior is much better. The invoice price on the '04 is just about the same on MSRP for the '05. It's a much better deal.
any users out there with opintions? Do you know where I can go to find out peoples opinions on the nav of BMW?
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I guess I have 3 days before it is final in the state of MA if I want to back out......
2) Your dealer was telling the truth.. Even though the '05 is cheaper, the lease deals are higher, because the residuals/money factors aren't as favorable.
3) There is no 3-day right of recision on car sales... Once you have signed and taken delivery, the deal is done.
regards,
kyfdx
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(I try not to think too much about the price, once I've got the car..)
regards,
kyfdx
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On the new one.. if you price it out.. it should be selling for about $500 over invoice... If he is asking more than that, its too much.. Manual shift SUVs have to be hard to sell..
regards,
kyfdx
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Here's a breakdown of what a lease price should be,
Invoice per your config. $39,220
+$500 dealer profit $39,720
Cap Reduction $1,500 (out of your $2,500)
Residue $23,434 (59% for 3 yr lse.)
MF should be .00079 (1.9%, dealer may tell you 2.9% but 1.9% is available to 750+ CRC)
Monthly lease chrg b4 tax $459.51
If you opt for more miles the residue would go down a bit and if the MF is .00121 (2.9%) the monthly should be $485.20.
Conclusion? You probably got a fair deal.
Terry.
you had mentioned that if I were to order a car and I went through BMWFS I could lock in the current program for up to two months and then choose between the locked program and whatever the current program is when the car comes in. I asked my salesman about that. He informed me that I can only lock it in for 30 days. Is there a link you can point to where it is in writing so I can show him?
Thanks!
regards,
kyfdx
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regards,
kyfdx
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IOW, BMWFS will lock it for 60 days.. But, your dealer may not participate.. I guess that is so the dealers can manipulate the program to their benefit, if they so choose..
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I keep getting "we have one low price so we don't negotiate" stuff. Each dealership has come down from MSRP $800-$1200 but refuses to go any further (they are still $2200 above invoice). I'm looking for help finding a dealer that will actually negotiate and not give me this one low price jargon? I'm in Denver, Colorado but I don't care where I get the car from, just trying to get a fair price. Any ideas?
goody
I asked the dealer for the current lease rates and here is what he told me.
money factor .00245
residual value 36 months
61% for 10k
60% for 12k
58% for 15k
I saw these rates posted on RF
Money Factor .00210
36 months
Residual Value
10k mi - 61%
12k mi - 60%
15k mi – 58%
So basically the same residual value but .00035 difference in money factor. Is that pretty standard for dealer profit?
Thaks
2) Residuals are set by BMWFS and the dealer can't change them, so nothing to worry about there.
3) The maximum that BMWFS allows the dealer to raise the MF is .0004
4) I would insist on them using the base rates.. If they want extra profit, then I want them putting it in the purchase price, not hiding it in the finance office.
5) Base acquisition fee is $525.. BMWFS allows them to charge up to $725.. Watch for this also.
6) Many, many dealers bump the rates up.. Some don't.. It isn't unusual, but that doesn't mean you have to like it.
regards,
kyfdx
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on #4)
What are the base rates? Can you explain a little further so I can push for this. I assume these are the rates you refer to in #6.
Thanks in advance for your knowledge!
MF .0021
Residual for 3yr/15K lease is 58%
12K is 60%.. 10K is 61%
Base acquisition fee if $525
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