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BMW 3-Series Lease Questions
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Car_man
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You mentioned that you are being given a $1,200 discount on this car. That's not bad, but given the fact that there is over a $3,200 gap between the full MSRP and dealer invoice price of a base 2006 BMW 330xi I would not be surprised if you were able to negotiate a bigger discount by shopping around. You may want to stop by the following discussion to see how much other community members have paid for similar cars lately: "BMW 3-Series: Prices Paid & Buying Experience".
Let's calculate a lease payment on this car using BMW's actual base lease program assuming a $2,000 discount and no cap cost reduction from your trade and see what sort of payment we come up with. According to my calculations, if you were to lease a 2006 BMW 330xi with an MSRP of $44,020 and a selling price of $42,020 through BMW Financial Services right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $577.
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Charles
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Please don't ask for names of salespeople - Thanks!!
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If you chose to waive the $625 acquisition fee with BMW, roughly what would be the incremental cash cost over the life of the lease if you either capitalized it into the cost or went with the higher money factor? In other words, what would you recommend, pay it up front or not?
I always recommend rolling it into the payment, for the same reason that you wouldn't want to make a cap cost reduction...
Rolling it in is cheaper than having it waived...
regards,
kyfdx
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325 xi wagon
msrp 40520 (including metallic paint, premium package, automatic transmission, heated seats)
dest. charge 695
shipping freight for shipping car from out of state dealer 800
tax here is 6.25
0 down, rolling taxes into the monthly payment
paying only a security deposit and first month payment at delivery
$681 per month
Thanks
Paying only a security deposit and first month's payment at delivery.
$572 per month.
This seems a little high to me using a money factor of .0025 and a residual of 63%. Sales tax is 6.25%.
Am I using the wrong numbers for mf and residual? Also, what would be a fair price?
.0025 is the base money factor for a 325i.... (i.e. dealer is making no extra money on you)
So, someone is making extra money somewhere.. I doubt tax could account for over $100/mo..
If they are quoting 12K mi./yr, a residual of 63% and marking up the money factor the maximum to .0029, then the payment would be $498/mo.+ tax.. Still, far below your payment..
I think you need to ask them what cap cost they are using to calculate the lease... and what is in it... There shouldn't be anything other than your selling price and acquisition fee ($625)... I'm guessing there is a lot more than that..
regards,
kyfdx
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Does the 60-day period for locking in lease terms count backwards from the Delivery date (Jan-06) or the Contract date (Dec-05)?
I'm doing a 3-yr, 12K/yr lease. The October program was a big improvement over previous months. If I can lock in 60 days ahead of the Contract date, I can do the Oct program. If the lock in is from Delivery date, I will have to wait for the Nov program.
Also, anyone hear rumors yet on what the Nov lease programs will look like?
Thank you!
Jon
regards,
kyfdx
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I am looking at a 325i, but only after I sell my 2003 Tahoe through private party. I did consider trading it in through the dealership, but I know they will try to nickel and dime me. I set up a little Excel worksheet to help me in the lease calculations.
Originally the salesperson offered a money factor of 0.00265...but after reading this forum, I knew to ask for 0.0025
The salesman offered a money factor of 0.00265 if I choose not to pay the security deposit of approx. $500. A lower money factor of 0.0025 is offered if I pay the security deposit.
After playing with the numbers, my spreadsheet is telling me that the lower higher interest and no security deposit means the lower monthly payment.
The salesperson is also trying to pass off an $825 bank fee, but after reading this forum I know to ask for $625. He is also passing off document fees and tire tax, which I will also ask to be removed.
I am just basically looking right now for the best configuration, but I wanted to post how thankful I am to have found this forum!
Charles
Just a note here... You do still pay the security deposit (which, btw, you get back at the end of the lease), but it is rolled into your cap cost at a charge of a .00015 MF increase. My point is that it doesn't just "disappear"....
He is also passing off document fees and tire tax, which I will also ask to be removed.
What state are you in? "Tire tax" is actually a legitimate state tax in some states. (FWIW, I'd think if a dealer claims it is a "tax" then it's a government thing and isn't just an additional fee.) I know, for instance, that PA, NJ, and OH have tire taxes.... Everyone has to pay them, unfortunately. It seems like a bogus way for the state to collect more revenue.... Leave it up to our politicians! :P
What did you miss in your calculations? You get the $500 back at the end of the lease...
regards,
kyfdx
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I bought it from Santa Monica BMW.
Once again, I cannot thank you and the rest of the forum for all of your help. I really appreciate it. The car buying experience is extremely tricky (and expensive) without people like you to clarify things for us.
You are indeed right, my pretax monthly is $422, if I did not capitalize the acquisition fee and add tax. With tax and acquisition fee rolled into my monthly, it works out to $471 (DAMN THATS ALOT OF MONEY!) im just a student tryin to get by! haha.
By the way, is the residual values negotiable. I got 15k miles / year on the 06 325i with a residual of 61% (could we have negotiated 62%??)... anyway I really appreciate your help.
Thanks,
Ajay
PS for the other poster who asked where i got the deal, I got it in Santa Monica BMW in California.
I think it sounds better to pay the security deposit upfront and take the lower MF.
The tire tax was something I thought could be just waived off in a tight deal, but I guess its something I will have to pay as well.
Just so I am clear, I can choosed whether or not to pay off or roll into the cap cost the Acquisition Fee, DMV Fee and/or Security Deposit, correct? Thanks,
Charles
I haven't made my final deal, but can you tell me what you think about my options just based on MSRP? This is the deal I can get if I want to pay MSRP (which I won't, of course):
Lease: MSRP $34415, 10K down, 3 yr @ 30K mi/yr, $350/mo, $14200 residual
I have no idea yeat about money factors, etc. or what any of that really means.
Purch: MSRP $34415, 10K down, 5yrs, about $490/mo (@ 5.25%).
Thank you,
R3L
I will put right at 30K mi/yr on the car. I can't see how the lease is a bad deal, but I know very little about leases. What do you think?
I have a question. I recently checked my credit score and noticed a negative account that is not mine. I am currently fighting with the 3 credit bureaus and the collection agency to get it off my record. Because of this, my estimated FICO score is now in the low to mid 600's.
What does this do to the lease? How much of an increase will this do to the money factor? Thanks,
Charles
BMW's lease program is not tiered... What that means is that it is "pass/fail". You are either approved or not, and there is no increased rate for different levels of credit. You could see if you could get approved in your current situation.... Regardless, I would work to resolve your issue, whether you buy a car now or later.
Titanium Silver exterior
Black Leatherette
Sport package
Navigation system
The MSRP is 36945 and my dealer is giving it to me for 35K
The MF he is using for my lease is 0.0025 with 625 acquisition fee.
From what I've read so far on this forum, this is a sweet deal. its about 1K more than the invoice and everything else seems to be set by BMW.
However, starting November 1st, I noticed that the lease on the "basic" 325i has gone down from $407 to $398 (see the BMW website). Does anyone know the new terms (like MF). I believe that you can always get lower rates if the MF reduced. Any idea if dealers do this easily?
regards,
kyfdx
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Do you guys know the following under these two different scenarios? Thanks,
1) Money factor
2) Residual
325i
24 month lease/15,000 miles
325i
36 month lease/15,000 miles
This is what I want:
Jet Black
4-door sedan
standard features
36mo/12,000 miles
$0 down
What type of residual, money factor, etc. should I look for? Thanks!!!
2006 MODELS
Add 2% to Residual Value for 12k mi/yr and 3% for 10k mi/yr on all terms
325Cic Conv
24 mo/15k mi – 70% Residual Value – Money Factor .00260 Base Rate
36 mo/15k mi – 60% Residual Value – Money Factor .00260 Base Rate
48 mo/15k mi – 48% Residual Value – Money Factor .00285 Base Rate
60 mo/15k mi – 39% Residual Value – Money Factor .00285 Base Rate
325Ci Coupe
24 mo/15k mi – 64% Residual Value – Money Factor .00150 Base Rate
36 mo/15k mi – 57% Residual Value – Money Factor .00150 Base Rate
48 mo/15k mi – 43% Residual Value – Money Factor .00285 Base Rate
60 mo/15k mi – 35% Residual Value – Money Factor .00285 Base Rate
325i Sedan
24 mo/15k mi – 71% Residual Value – Money Factor .00250 Base Rate
36 mo/15k mi – 62% Residual Value – Money Factor .00250 Base Rate
48 mo/15k mi – 45% Residual Value – Money Factor .00285 Base Rate
60 mo/15k mi – 37% Residual Value – Money Factor .00285 Base Rate
325xi Sedan
24 mo/15k mi – 70% Residual Value – Money Factor .00250 Base Rate
36 mo/15k mi – 61% Residual Value – Money Factor .00250 Base Rate
48 mo/15k mi – 45% Residual Value – Money Factor .00285 Base Rate
60 mo/15k mi – 37% Residual Value – Money Factor .00285 Base Rate
325xiT Wagon
24 mo/15k mi – 70% Residual Value – Money Factor .00200 Base Rate
36 mo/15k mi – 60% Residual Value – Money Factor .00200 Base Rate
48 mo/15k mi – 43% Residual Value – Money Factor .00285 Base Rate
60 mo/15k mi – 36% Residual Value – Money Factor .00285 Base Rate
330Cic Convertible
24 mo/15k mi – 69% Residual Value – Money Factor .00260 Base Rate
36 mo/15k mi – 61% Residual Value – Money Factor .00260 Base Rate
48 mo/15k mi – 47% Residual Value – Money Factor .00285 Base Rate
60 mo/15k mi – 39% Residual Value – Money Factor .00285 Base Rate
M3 Convertible
24 mo/15k mi – 66% Residual Value – Money Factor .00285 Base Rate
36 mo/15k mi – 58% Residual Value – Money Factor .00285 Base Rate
48 mo/15k mi – 48% Residual Value – Money Factor .00285 Base Rate
60 mo/15k mi – 41% Residual Value – Money Factor .00285 Base Rate
330Ci Coupe
24 mo/15k mi – 67% Residual Value – Money Factor .00150 Base Rate
36 mo/15k mi – 57% Residual Value – Money Factor .00150 Base Rate
48 mo/15k mi – 42% Residual Value – Money Factor .00285 Base Rate
60 mo/15k mi – 34% Residual Value – Money Factor .00285 Base Rate
M3 Coupe
24 mo/15k mi – 70% Residual Value – Money Factor .00285 Base Rate
36 mo/15k mi – 61% Residual Value – Money Factor .00285 Base Rate
48 mo/15k mi – 51% Residual Value – Money Factor .00285 Base Rate
60 mo/15k mi – 42% Residual Value – Money Factor .00285 Base Rate
330i Sedan
24 mo/15k mi – 69% Residual Value – Money Factor .00195 Base Rate
36 mo/15k mi – 62% Residual Value – Money Factor .00195 Base Rate
48 mo/15k mi – 45% Residual Value – Money Factor .00285 Base Rate
60 mo/15k mi – 36% Residual Value – Money Factor .00285 Base Rate
330xi Sedan
24 mo/15k mi – 69% Residual Value – Money Factor .00225 Base Rate
36 mo/15k mi – 61% Residual Value – Money Factor .00225 Base Rate
48 mo/15k mi – 45% Residual Value – Money Factor .00285 Base Rate
60 mo/15k mi – 37% Residual Value – Money Factor .00285 Base Rate
2006 330xi
SG
Terra Int
Alum Trim
Automatic Tran
Prem Pack
Cold Weather
Comfort Access
MSRP $45,395
Initial Cap Cost $43,295
3 years/45K
LRF .0024 (buy rate was .0022, dealer wanted .00265, split diff)
$0 down monthly payment $647.36
Car_man
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Since you mentioned that you do not know what the terms lease money factor, residual value, etc... mean you definitely should do some research prior to leasing a new vehicle. the less you understand the leasing process, the more likely it is that you will be taken advantage of. You definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
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Take a look at my previous post to get an idea of what this car's lease program is like right now. In addition to getting the dealer that you are working with to use this lease program to calculate your car's lease payment, you need to make sure that you negotiate an attractive selling price. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. You should be able to get an idea of what a good price is for the car that you are interested in right now by visiting the following discussion: "BMW 3-Series: Prices Paid & Buying Experience".
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I have recently started looking into leasing a 325i sedan. I am aware that the sale price is negotiable, but I would like to know if the money factor is negotiable or is it something that is set by BMW? Also, are there any other elements of the lease that are negotiable?
Thanks,
Vish
I'd like your opinion on this offer:
325xi 2006, MSRP $39,020, selling price $37,695, 36 month lease 18K miles per year $617. Don't have the MF factors or residual numbers. Seems high compared to other numbers thrown around in various posts, but I think it may be due to the 18K miles. What do you think? What should the MF and residual numbers be? Thanks.