BMW 3-Series Lease Questions

hkg · April 2007

I'm in CA and about to lease a new car from AZ, I know that CA sales tax has been applied to my monthly payments. But I'm wondering when I get my car delivered to CA, and I take it to the DMV for title and registration, will there be any other tax charges?

Also does anyone know approx how much title and reg fees are in the SF Bay Area?

rujo · April 2007

Here's a link to calculate CA new vehicle title and registration fees:

https://mv.dmv.ca.gov/FeeCalculatorWeb/newVehicleFees.do

rujo · April 2007

I inquired about re-leasing my 2006 325i (24 month lease coming to an end). Dealer was useless - came up with ridiculous rates. BMWFS quoted rates 5-7% higher than my current payment for a 12 or 24 month re-lease. However, if I reduced my miles from 12k to 10k . . . a 12 month re-lease would be about 16% less than my current payment. (A 24 month/10k re-lease only lessened my current payment by 3%.)

Moral of the story? BMWFS may be able to help - local dealer almost certainly will not.

thompsongk · April 2007

Hi,

Anyone had good experience of dealers in Northern Cal (Roseville would be perfect). Looking for 328xi with a few chosen options to make it approx $38K on inv according to Edmunds (12K miles per year on 36 month lease).

Shared some emails with Sacramento dealer:
$1800 over inv
.0004 over MF (got quoted .0023)
$200 added to fees ($825 quoted)
$150 security deposit
$5K trade-in
$6K cash down (which I have since read here is a very bad idea)

Sure I can do better....any thoughts or contacts?
I work in SF and Bay Area also, so thats not out of the question.

Thanks!!

socal11 · April 2007

I leased at Shelly BMW, located in Buena Park, CA. They were great and were very willing to work with me. They didn't have the car I wanted on lot, but called around to other dealers and found one. They sent someone over right away, and had the car there within an hour.

dino001 · April 2007

I would even ask the dealer to cut you a check for your trade minus the necessary fees, taxes and deposits just to get the lowest MF. Your MF is low, so you could do something different with cash on your hand than lock your return and live with higher payments.

Plus with GAP insurance included in payment anyway, any cap cost reduction is benefiting the bank more than not you (it's a risk management thing) - that's why they are so quick to take your trade or cash down.

wrobbins8047 · April 2007

What kind of deal you got with Shelly BMW?

john7548 · April 2007

Does anyone know a site that has the April rates for BMW posted? I'm curious if the MF and residuals changed from the March numbers. Thank you

rujo · April 2007

http://forums.roadfly.com/forums/financing/

socal11 · April 2007

Just leased a 328i sedan today from Shelly BMW in So Cal. I got a .00145 MF on a 36mo, 12,000miles. Bank fee of $625 (another dealer quoted $825). Here's the deal.
MSRP $42200 Invoice $38850
Paid $39822
Down $274
No security deposit
Residual Value $26472 (63%)
Only paid $1230 OUT the DOOR, which included first month payment, license,doc, and $274 downpayment.
Payment are $527 (incl. sales tax)
Options included: auto, navigation, sport pkg, premium pkg, xenon lights. They even threw in free floor mats.
I think I got a good deal.

wrobbins8047 · April 2007

I think you could have done better. What does the $274 go towards, and break down the 1230? The mats was included in your price somewhere.

I got a coupe with more options and pay around the same.

socal11 · April 2007

+
The $1230 was the out the door price.
Cap cost reduction $274.85 (aka down payment)
First payment $527.10
License fee $325.00
DMV electronic file$ 28.00
Salestax on CapCost$ 21.30
reduction
California tire fee$ 8.75
Doc Fee $ 45.00
Total $1230.00
I paid no deposit. The mats were not included in the price.I asked about them when we got the car and they threw them in free.
The options included were,
Automatic
Premium pkg
Sports pkg
Navigation
Xenon adaptive headlights
Tell me what kind of deal you got
I only paid about $970 over invoice, saving $2370 off MSRP.

4

wrobbins8047 · April 2007

My deal....

328i coupe
Automatic
Premium
Sports
Comfort Access
Navigation
MSRP: 44,290.00
Sell Price: 41,465.00
$500 over invoice and saved $2825 off MSRP.

License & Registration: $339.75
Documentation Fee: $45.00
First Payment: $569.52
Security Deposit: $0.00
Drive Off $957.75 / Out the door

cioccabmw · April 2007

Did you have to take something on the lot?

gleegeld · April 2007

Hello,

I am thinking of leasing a 328i sedan $38,975 msrp in the next few weeks. I attend school in SoCal but I am a resident of Dallas, TX. I wasn't sure if I should buy my car in Dallas or LA (I am allowed to drive a TX reg car in LA b/c I'm a student).

I would love some help to know what the MF for April is and what would be a good monthly lease option for a 328i sedan $38,975 msrp with Premium Package 30 mth term... I don't want to put any money down (willing to put 5k, but rather invest it for higher mthly pymt).

Thanks,
Gleegeld

kodachrome22 · April 2007

For closure's sake, I was given a selling price of 35,500. A little bit of research online told me that the invoice on a same-spec'ed car with 0 miles was in the high 36's. I ended up getting it for 4k OOP (I think it worked out to 3k down and 1k tax/tag/etc) and 379/mo.

wrobbins8047 · April 2007

I would stay away from Texas, I read some post that they won't budge from MSRP. Contact the Internet Sales department at BMW of Palm Springs for a quote, let him know that Will sent you.

jakkmove · April 2007

I looked at a new 328xi - no features except automatic. They want $3298 (2500 down + 419 first month + 450 deposit) and $448 a month which includes tax.

Is this a good deal or a ripoff? Could I find better?

Thanks

edogg1 · April 2007

For some reason I don't think the dealer is being straight with me. Here is my deal. 2007 328i sedan. Premium, Sport, zenon, navigation.
MSRP 42675
Price $40,400 (They said this is 400 over invoice but Edmunds is different)
12K Miles
30 Months
MF .00155
Taxes $1272.45
Doc fee $45.00
Drive off $4000 towards cap cost reduction
Residual 68% $29,019
payment $449 including taxes

This is from Long Beach BMW

edogg1 · April 2007

Forgot $795 Destination fee and I think invoice is $38,445 versus the sale price of $40,440.

elmfd3s · April 2007

Does anyone know the current buy rate and residual percentage values for 10k and 12k for a 36 and 48 month lease on a 335i Coupe through BMW finanical?

Thanks,
Eric

socal11 · April 2007

Invoice on that car is $39280 so the price is $1120 over invoice. I leased the same car (see my deal above at Shellys), but only put $274 down because I feel it's better to go with as little down as possible, even though the payments are higher. Why give them $4000 up front when yu can keep it to add on to the payments if needed. The MF should be .00145 through BMWF.

edogg1 · April 2007

Thanks SoCal. I called SB BMW and they are throwing in the Sirius Radio as well and giving me the same deal. 68% residual, 30 months, 500 over invoice. Not sure about the MF yet. They have the car in black and I originally wanted dark grey or silver. Thoughts?

liquimatic · April 2007

Dealer offered $300 over invoice down from $46,995, to about $43600. This seems like a good deal. (includes: navi, sport, premium, steptronic etc).

He is offering a MF of .002xx. I told him based on my research BMW MF should be .00140. He responded telling me that would require a security deposit. Is this true? This makes my monthly payments over $650 including tax (with Minimum-drive off around $1050).
I see people getting $550 or less all over this townhall forum. Is there a much better deal out there?

ALSO, the car i wanted had a bit of rough idling, and they told me this was just because the computer needed to be reprogrammed. is THIS true? I don't want to pick up a problem BMW!!!

Also, I'd prefer a 335i, but its a bit out of my price range. Should I cut back on options from a 328 and get a 335 (including long waiting list?!)

Feedback & Comments are much appreciated!!!

rebirth24 · April 2007

Down in SD, wondering if anyone has heard of or gotten a good lease deal from anyone in particular in SoCal on the 335i?? Been looking around but not getting much response on the internet from dealers. Really interested in buying/ordering soon.

socal11 · April 2007

Just remember since you now are getting black and not a metallic color they should knock $475 off your price, so your invoice now is $38950 plus Sirius Radio which is $585.

donnabgood1 · April 2007

just an fyi.. the 28 ca electronic fee is an optional fee and you can easily have it removed just by asking..and the tire recycle fee should be 7 dollars (1.75 per tire x 4) there is no spare.. I would look for a refund check for that 1.75 from your dealership in the next week or so..and if you like make the call and have them refund that 28 "optional" DMV electronic fee. I think you got a good deal btw -- you got the BMW you wanted with no compromise.

Regards,
Donna

delfer · April 2007

By the way, what's the mileage and terms of your monthly payments? Is it 3 years, 15K miles as year>?

wrobbins8047 · April 2007

328i coupe 3yrs / 36k miles
Automatic
Premium
Sports
Comfort Access
Navigation
MSRP: 44,290.00
Sell Price: 41,465.00
$500 over invoice and saved $2825 off MSRP.

License & Registration: $339.75
Documentation Fee: $45.00
First Payment: $569.52
Security Deposit: $0.00
Drive Off $957.75 / Out the door

newcar17 · April 2007

Hi everyne,
I just leased 328i 2007 basic model 4 door, silver exterior, black(not leather interior) automatic, no options. got floormate with the deal.
Paid 3000 out of door(including reg fee and taxes and all the nonsense fee that the dealer willnot take off) including 1st month payment.
400 month payment including taxes. 10K miles a year for 24 months lease.
is that good deal. thanks for any feed back.

delfer · April 2007

Thank you! I sent him an email asking for the same deal, or a better one on a Z$ with the same creature comforts.

Can't make up my mind between the 2 cars ...

regretweary · April 2007

Okay, I ordered a BMW 335 Turbo Coupe a few months ago, and it's finally arrived! Being mathmatically challenged as I am... I had tentatively agreed on a 3yr "lease", with 20k down, being that I'm trying to attain the lowest monthly car payment possible... which in my case had been quoted at about 130/mth for the next 3 yrs under this lease structure. Admittingly, I am in between careers at this very moment, and continue on without my own vehicle at this time.

The total cost of the vehicle would be about $43,675 as calculated here, (with my desired options and lojac) but my rep had quoted me 46K and some change, claiming that this higher rate is due to the 335's high demand, as well as this vehicle not being readily available at local dealerships.

My appt to finalize this lease deal is later today, or possibly even tomorrow... so I would kindly request ANY and ALL info/advice ANYONE could offer in answering these questions: Is this a smart deal for me? Is what my rep told me "accurate"? Is there another purchase/lease plan that would better suit my needs? I'd be eternally greatful for ANY honest advice given. Thank you very much for your assistance!

With eager anticipation,

-Joe

kdshapiro · April 2007

I would never pay MSRP for a car, much less more than MSRP. I would tell the dealer where to "stick it".

In addition, if you have 20K to put down on a car, maybe you can swing a purchase. I would never put down more than a few K on a lease, because you have nothing at the end of lease.

Maybe you can take a deep breath and hold the deal for a few days, while you get your thoughts in order. I'm sure some of the other regulars will reply to this question.

If you are not familiar with Edmunds there are some other 3 series forums that may be of help.

regretweary · April 2007

kdsshapiro- Thank you for your quick reply, but I have some concerns. I'm being somewhat pressured into this deal, which OBVIOUSLY raises some "red flags"... but I'm afraid that any hesitation on my part will nulify my "dibbs" on this car which I've wanted soooo bad, to then be quickly sold off to someone else who wouldn't hesitate to buy/lease this vehicle.

I'm afraid that 20K would represent most of my funds at this time, and paying a 500+ car note/month is scary without a secured job at hand.

I will heed your good advice and hold-off on finalizing ANYTHING for now... as you've reminded me of some basic rules to stick by, which had been forgotten in my quest to attain THIS vehicle. I'll continue digging and awaiting further advice... and I thank you very much for your input!

kyfdx · April 2007

I would rather have a $750/mo. lease payment and $20K in my pocket, than a $130/mo. payment and nothing in the bank..

Making a $24K commmitment on a lease when you have no job is not a very good idea..

Those coupes might be hard to come by now.... but, wait a few months until you have a job, and can deal from financial strength.. The supply of cars will probably increase by then, as well..

regards,
kyfdx

regretweary · April 2007

Thank you for your reply kyfdx. Now, If I were to pay 750/mth and keep the 20K... I'd probably owe for 5 years or so at that rate, while possibly exhausting the 20K on some non car-payment related expenditures, which is what I'm afraid might happen. Plus, a 750/mth car payment sounds rather steep with or without a change in my employment status. Meanwhile, I continue on... playing musical chairs, (or cars in this case) with the gracious but burdened members of my family.

However, I may just think twice about purchasing this car altogether... and perhaps purchase a new cheaper car ranging in the 20K or less neighborhood. Oh, but then... I might blow my chances of ever owning my own Bimmer, and the exact model I've been dreamin' about! Darn. Well, IF anybody has anything else BEFORE I relinquish this car... please don't hesitate to reply at this time. Thanks.

kdshapiro · April 2007

The car has to feel right to own and fit in with your lifestlye. I can empathize with your thoughts (if you go to my carspace, you'll see why). But I would not jeopardize my finances for a purchase that doesn't fit in.

Having said that, I would try to wait a little bit. Maybe get a true beater in the meantime. Find another dealer. Look at Edmunds true market value and try to see what edmunds thinks the car should sell at.

Don't jump into this without doing adequate research and soul searching.

jvos · April 2007

regretweary - you should NEVER put a large amount down on a lease, even if you had a perfect income stream. Why? Because if you were t-boned on your way home from the lot, your insurance would ONLY cover the lease amount and you'd be immediately out the 20K. Very bad move.

As you've already appeared to figure out, it is not a good move to get into a new lease without a job. Dreams such as owning a BMW are only worth it if they feel "right", and given your pressure and situation, it doesn't seem so for you right now. Also, if you make a foolish move now, you could damage your credit and hurt your chances of getting the car once you land a new job.

dino001 · April 2007

Large downpayments are great for loans and terrible idea for a lease. The chole concept of the lease is to transfer (for a fee) the risk of ownership to another party (bank). What are the risks? Total loss (accident) and loss of value (at the end of the term the car may be worth less than initially assumed so the bank may have to sell it for less). For those two benefits you often pay slightly higher rate than a loan (especially when factor in all fees), unless it is a subsidized rate, and agree on some stricter rules of operation (higher insurance policy). Putting large downpayment pretty contradicts those benefits, cause now the risk is transferred back to the operating party. Now you have a larger stake in the car (20K), but no benefits of its ownership. In case of a total loss, the bank will come up with a magical formula that will give you back ... nothing. Well, perhaps couple of grand to wipe your tears off. TERRIBLE, TERRIBLE idea.

On the lifestyle choice - c'mon, man! You know what to (not) do

When you get that job, eventually, you still DO NOT put downpayment if you wanted to lease.

socal11 · April 2007

When you state "your insurance would Only cover the lease amount" on a total loss, that is not always true. MY daughter just "totaled" her 2006 BMW325i (loaded)leased vehicle which she paid $40200 at lease inception. She had 8 months left on her 2 year lease. Her insurance paid the full value of the vehicle at the time of the accident $35,778 (this was the high blue book value), plus state sales tax $2772.79, unused DMV fees $254, and EQP($1000 rims)which came to $39304.79, that was after her $500 deduct. Her lease payoff was $35,013, so she ended up with $4291.79 CASH to her. She had put $1000 down on the car. This was in So CA. I agree that you still should put as little as possible down (her new 2007 she only put $274 down) but OUR insurance went by the true value of the car, and not what was owed on the lease on determining the payoff.

wswelch · April 2007

I got a quote for a 335i from a dealer in NJ.

335i Sedan
Saphire Black / Black
Premium package
Sport package
Cold weather package

36mo / 12k

MSRP: $45,400
Agreed price: $43,650 (they said this is $900 over invoice)
RV: 63%
MF: .00175

Monthly: 544.41 + tax

Drive-off

First mo payment: $593.40
security deposit: $600
Bank fee: $625 (they said $825, but I corrected them)
Doc fee: $197.00

total: $2015

So a few things.. How much more can I get them to take off the MSRP? I was thinking maybe $800 more? They said if I waive the security deposit they have to raise the MF by .00015, is this true? Any advice on this deal welcome.

I also have a trade in, 2004 Acura TSX w/o nav, manual which the pay-off is $15,500. They said they use Galves Book and that it says they car is worth $15,800. Any advice on this?

Thanks!

kyfdx · April 2007

This is really interesting.. I'm pretty much amazed.. Did your daughter only have to deal with her own insurance company? Guessing that she would be hard pressed to get this kind of settlement from another driver's company that was at-fault.

Either way, a great result for her. Unless of course, her rates go up.

regards,
kyfdx

kyfdx · April 2007

1) They might have some more room to move down on the price, but that looks like a pretty decent deal. Base MF and acq.fee. Every $100 lower saves you $2.95/mo.+tax

2) Unless you are a current BMWFS customer, you have to make a security deposit or pay the higher MF. As you have probably noted, it is a better deal to make the security deposit, which you get back.

3) Unless you live in NY, you could do Multiple Security Deposits, if you have the available cash on hand. For each extra $600 deposit, they will lower the money factor by .00007, up to 7 deposits or .00049. Making the maximum number of deposits would lower your money factor to .00126, which would lower your payment by around $36/mo.+tax. That equates to a 10.2% after-tax return on your money.

4) No details on your trade-in, but for an average unit that seems $1000-$2000 shy.. Galves is notoriously low. For an expert's opinion, post details of your trade here: Real-World Trade-In Values

Actually, the deal you've negotiated is pretty darn good (without regard to the trade-in).

Good luck,
kyfdx

socal11 · April 2007

The accident was her fault, so her insurance IS going to go up. I was very surprised with the settlement, but 21st Century insurance has always been more than fair in their accident settlements. This is the 5th car we have had totaled over the last 13 years. MY son 2, daughter 1, and myself 2(not at fault). We have lousey luck.

kyfdx · April 2007

Boy.. I'll say..

Keep your distance, please...lol

hotkristin · April 2007

Hey guys! I need some big time help! Of course I am female and I don't want the dealerships to take adavantage of me. I am looking at leasing one of two cars, either a 328xi coupe or a 335i coupe. I went to the bwm website and I looked at their special lease offers but I think I can do better. The MSRP on the 328 is $39,150.00 and the MSRP on the 335 is $42,850.00. Can someone please give me an idea of what I should pay for these? I live in PA, if that helps and I plan on trading in my 1998 Lincoln Navigator. It has high miles (140,000) so I am not expecting much out of that. Should I expect KBB trade in value or a little less??? Any help is greatly appreciated!

Thanks guys!!!

Kristin

txbmwfan · April 2007

On the actual negotiated price, you should be able to negotiate $2,000 to $2,500 off the MSRP. The current lease offers (residual, money factor, etc.) are discussed elsewhere in this thread.

KBB is often a good approximation of trade-in value (use "clean" trade-in value). Also compare to TMV on Edmunds and NADA.com. The key is to negotiate the price and terms on the BMW without discussing anything about trade-in. Discuss after other details are done. Dealer will likely try and offer less than KBB, etc.

Hope that helps. Had to answer with screen name HotKristin--very amusing!

Brent

delfer · April 2007

Hi Will!

Please stop by the Z4 lease questions section when you get a chance.

Also, I hope you don't mind if I ask for your opinion. I test drove both the Z and the 328i convertible last week, and felt the Z was more to my liking even though initially, I thought the 328 convertible would knock my socks off (I have been drooling to the teaser video since it came out. I really like the hardtop convertible concept).

Anyway, it seems they are turning out to be about the same price to lease, considering I want auto trans, navi, premium+sport package, and 6-disc changer + ipod use.

Do you have any idea as to why that is? And also, feel free to let me know your thoughts on either car -- especially since you have the 328i!

My least and easiest option is to continue leasing with Acura, since I currently drive an RSX. They will probably give me a good lease on a TL although I need to satisfy my craving for a convertible bimmer.

Thanks in advance!

gasdoc · April 2007

I'm in Houston and have visited a few dealerships. They have all told me that the 335 Coupe is "hot" and they can't go below MSRP. I'm looking to lease the car but I think I'm going to have to order mine because I need navigation and hardly any of these are ordered with sat nav. Is anyone getting the 335 Coupe on order in TX for less than MSRP?

cynthia10 · April 2007

40 years old, female, never had to buy or lease a car in my life due to company cars! Now I do. And I'm totally in over my head!! Looking to lease 2007 328i. They want $4000, which includes tags, title, fees, first payment. $328 month, 24 mo. lease, 10K miles. They say MSRP is $34450, Edmunds says $32,358. Only Black or White with beige interior as options. 7% tax here in Atlanta, due additionally to $4000. Additional 2K mileage at .07-.09Cents, .20 cents at back end. What can I negotiate? And what do I need to ask regarding additional charges, hidden fees, all those "extras" that may apply. Thank you so much for ANY help and advice you can offer. Cynthia

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