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BMW 3-Series Lease Questions
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I was interested in 36 mos. at 12K per year. I understand that the buy rate for 36mos./12K is .00250 and the residual is 64%. Correct? Is the difference in the residual the reason why you say that 24 mos. lease at 15K mi is the most attractive term at the moment?
Thanks,
- A.
2006 BMW325i automatic, premium package, cold weather package, xenons.
$650 up front (includes first mos payment)
$499 monthly payment (includes 6% sales tax)
10,000 miles per year
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You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion on this deal if you let me know what these numbers are.
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$41370 MSRP
$38685 Selling price
$39310 Cap cost (selling price + $625 acquisition fee)
Money factor .00195
Residual 64%
3yr/36K lease
Payment = $485/mo. + tax = $525/mo. including 8.25% tax
"
Kyfdx,
Just a strange question. Why is the acquisition fee rolled into the cap cost that we eventually divide by 36? Not that I'm complaning, but shouldn't I bear the entire burden of the acquisition fee, and not just 64% of it?
I'll accept your answer if it's simply "that's just the way things are." But if you actually know why, it'd be good for me to know, in case the dealer tries something funky on me. Thanks.
-Sirkfc
In the example above, the residual amount is 64% of $41,370 or $26,476.80... So, the depreciation on the lease is the Cap cost minus $26,476.80.. Any addition to the cap cost will be paid for fully over the term of the lease, as it doesn't change the residual.
regards,
kyfdx
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One more thing, just for my education. When we calculate the lease interest using the money factor, Why do we slap interest on BOTH the (Cap Cost + Residual)? It seems like we should only be charged interest for them giving us the car upfront.
I'm sure I'm not uncovering anything new here, but I couldn't explain it to somebody when they asked what number does (cap cost + residual) signify.
Normally, you would divide by two, to get an average, but this is accounted for in the money factor calculation..
regards,
kyfdx
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the car I want has a msrp of $35,770 and I assuming I can negotiate the price of the car to $34500
what should my monthly payment be before tax based on all of this?
Thanks
Due at signing: 1st payment, security deposit, title/license fees ($1400-$1500 total).
Money factor is .0025 and residual is 74%.
regards,
kyfdx
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- Lease Term 36 mo, 30K miles (10K mi/yr)
- MSRP 34,440
- Sell Price 33,884.46
- Sales Tax 1,112.83 (state 6%)
- Residual 22,386.00 (65%)
- Equivalent interest rate 6.9% (current BMW program?)
- cquisition Fee 825.00
- Disposition Fee 350.00 (this surprises me!)
- Total Down at Signing 2,500 comprised of:
- Cap Cost Reduction 1,679.00
- Registration/Title Fees 175.50
- State Recording Fee 146.50
- First month's payment of 499.00
- Buried somewhere in here is payoff of last 2 months of current lease of 447.00 per month (total balance of 894.00)
- Monthly payment of 499.00
I'm only surprised and disappointed in the "disposal fee", but if that's pretty much standard these days, then so be it. I'm comfortable with the dealer and salesperson, and like the vehicle. Thanks for any comments!
2) Acquisition fee.. The base fee is $625.. they are marking it up the maximum $200.. all extra profit for the dealer.
3) 6.9% equivalent APR.. Did they tell you the money factor?
4) $350 Disposition fee.. standard on every BMWFS lease.. you only pay it, if you turn the car in, without leasing another BMW.. You don't pay it upfront..
It looks like the sales tax and the acquisition fee are partially offset by the $1679 cap cost reduction.. It is hard to say exactly what kind of deal you are getting, but I'm pretty sure it isn't a great one..
It looks like they tried really hard to hit that "under $500" number.. Shooting for a certain monthly payment can hide a lot of extra dollars..
regards,
kyfdx
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""On a 36 month/ 10k per year lease you are looking at low - to mid 7's with only the first month down.
I have a 2006 BMW 330i Sparkling Graphite on Gray leather with Sports Package, Premium Package, Automatic Transmission, and Sat. Radio Prep
42290 MSRP""
I don't drive a lot of miles, I buy/sell cars pretty often, my company pays for the car so my accountant suggested I look at leasing. I'm brand new to this. What should I ask this sales guy?
Thanks! :confuse:
The lease price seems way too high. What is the sales tax rate in your area?
Thanks,
Matt
I'm considering both the 330i and the 330xi for lease for 24 months, 12,000 per year. I wanted automatic as the only option. I've gotten the following offers from two different dealers, and wanted to ask your opinions on which you believe to be the better value.
330i (Premium, non-metallic, automatic, heated seats)
$545 month (including taxes)
$1060 due at signing (including first month, documentation and DMV fees).
Plus, the dealer is willing to pay one month of my existing lease ($350).
330xi (No premium, no leather, automatic, heated seats, non-metallic)
$555 month
$2300 due at signing (including first month documentation and DMV fees, all taxes paid up front ($800) and cap cost ($600))
Obviously I don't like paying cap cost reductions or taxes up front, but know also that the 330xi's are higher in demand. Let me know what you guys think. Thanks!!!!
If I had to pick one, I'd take the 330i with all the options.. (I'd also pick the 330i with no options, but that is another story..)
regards,
kyfdx
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Another follow up question: given your experience browsing at deals over the past few months on the 3-series, would you consider the above lease offer for the 330i to be fair, good or excellent? Wanted to know how much additional negotiations I should do. Thanks again.
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Thanks AGAIN!!!
This looks like a great deal.. 24mo/20K lease, right?
Using the base rates, and with only first payment and DMV fees upfront, your selling price has to be almost $3K off of MSRP..
If this is what you want, you won't do any better, I don't think..
regards,
kyfdx
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Thanks
I am interested in buying a 330i with Sport/Cold/Navi and comfort package. Basically a 46k MSRP.
I want to lease for 24m at 12k a year
If I need the payment to be around 500 what should I expect in terms of down payment and what sort of deal should I be looking for?
Thanks in advance.
Many thanks.
Make the security deposit, and insist on the base rate, which is .0025, as he said..
At least he is honest...
regards,
kyfdx
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metallic paint
premium
automatic
Xenon
MSRP: $37245
Selling price: $34775
acq fee: $825
DMV: $288
Doc fee: $73
MF: 0.00275
Term : 3year/36k
Residua: 64%
Security deposit: $550
comes up to $533 per month including tax
I was wondering if this was a good deal or not?
Thanks
dj
Thanks for your suggestions. With that, we negotiated a better final deal as follows, with a deeper sales price discount. We are very satisfied with the deal. I post this information for anyone else as a baseline.
- Lease Term 36 mo, 30K miles (10K mi/yr)
- MSRP 34,440
- Sell Price 33,004.46
- Residual 22,386.00 (65% of MSRP)
- Equivalent interest rate 6.9%
- Acquisition Fee 825.00
- Disposition Fee 350.00
- Total Down at Signing 2,500 comprised of:
- Cap Cost Reduction 1,708.85
- Registration/Title Fees 175.50
- State Recording Fee 146.50
- First month's payment of 469.15
- Monthly payment of 469.15
We picked up the car this weekend, and the dealer also gave us a BMW Lifestyles travel/duffel bag and shirt. Small item as a goody, but it made my wife happy (car is for her).
1) Will the dealers be more motivated to get rid of their current (2006) E46 coupes to make way for the E90 (2007) coupes by this summer? I have noticed that MF for the 325Ci's seem to consistently run lower than the 4-doors for the past few months- any thoughts on them trying to ditch their inventory?
2) I am looking at various software packages for researching what car would be the best to lease- i.e., residuals, MF, holdback, F-to-D incentives, etc. (FWIW, I'm also thinking about the Acura TL and Audi A4, but I'd much rather have the bimmer). Anybody have experience with Auto Lease Pro? I want to research multiple makes and models, and other programs look like make/model specific info is about $12 each.
Thanks
dj
What is the amount due at signing?
Is the acquisition fee, DMV fee, Doc fee..rolled into the lease, or are you paying them upfront?
The selling price is dirt cheap.. the acquisition fee is marked up by $200.. and the money factor is marked up from .0025 to .00275..
It is hard to know if the numbers are accurate, without knowing what is rolled into the cap cost, and what is paid upfront... also, how much of the payment is tax?
regards,
kyfdx
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acq is rolled up into the cap cost.
and tax is 8.25% ie around $40 ($533 pm including tax)
With the base money factor and the base acq.fee, it would drop the payment around $20/mo. pre-tax.. Not sure the dealer would go for that, considering the $2500 discount from MSRP..
It looks like a decent deal...
regards,
kyfdx
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2006 330ci
Performance Package
Premium Package
Heated Seats
Xenon Headlights
6-Speed Manual Transmission
MSRP: 45695
Your Price: 43292
As I want to lease for 36 months @ 12,000 annual miles, approximately what kind of numbers would appear judicious?
Thanks for the assistance my Bavarian aficionados.
Add 2% to Residual Value for 12k mi/yr and 3% for 10k mi/yr on all terms
2006 MODELS
325i Sedan
24 mo/15k mi – Residual Value 74% of MSRP – .00250 Base Money Factor Rate
36 mo/15k mi – Residual Value 62% of MSRP – .00250 Base Money Factor Rate
48 mo/15k mi – Residual Value 44% of MSRP – .00290 Base Money Factor Rate
60 mo/15k mi – Residual Value 36% of MSRP – .00290 Base Money Factor Rate
325xi Sedan
24 mo/15k mi – Residual Value 72% of MSRP – .00250 Base Money Factor Rate
36 mo/15k mi – Residual Value 61% of MSRP – .00250 Base Money Factor Rate
48 mo/15k mi – Residual Value 44% of MSRP – .00290 Base Money Factor Rate
60 mo/15k mi – Residual Value 36% of MSRP – .00290 Base Money Factor Rate
325xiT Wagon
24 mo/15k mi – Residual Value 71% of MSRP – .00200 Base Money Factor Rate
36 mo/15k mi – Residual Value 60% of MSRP – .00200 Base Money Factor Rate
48 mo/15k mi – Residual Value 42% of MSRP – .00290 Base Money Factor Rate
60 mo/15k mi – Residual Value 34% of MSRP – .00290 Base Money Factor Rate
325Ci Coupe
24 mo/15k mi – Residual Value 69% of MSRP – .00150 Base Money Factor Rate
36 mo/15k mi – Residual Value 57% of MSRP – .00150 Base Money Factor Rate
48 mo/15k mi – Residual Value 43% of MSRP – .00290 Base Money Factor Rate
60 mo/15k mi – Residual Value 34% of MSRP – .00290 Base Money Factor Rate
325Cic Conv
24 mo/15k mi – Residual Value 71% of MSRP – .00260 Base Money Factor Rate
36 mo/15k mi – Residual Value 60% of MSRP – .00260 Base Money Factor Rate
48 mo/15k mi – Residual Value 47% of MSRP – .00290 Base Money Factor Rate
60 mo/15k mi – Residual Value 38% of MSRP – .00290 Base Money Factor Rate
330i Sedan
24 mo/15k mi – Residual Value 74% of MSRP – .00195 Base Money Factor Rate
36 mo/15k mi – Residual Value 62% of MSRP – .00195 Base Money Factor Rate
48 mo/15k mi – Residual Value 45% of MSRP – .00290 Base Money Factor Rate
60 mo/15k mi – Residual Value 36% of MSRP – .00290 Base Money Factor Rate
330xi Sedan
24 mo/15k mi – Residual Value 72% of MSRP – .00225 Base Money Factor Rate
36 mo/15k mi – Residual Value 61% of MSRP – .00225 Base Money Factor Rate
48 mo/15k mi – Residual Value 45% of MSRP – .00290 Base Money Factor Rate
60 mo/15k mi – Residual Value 36% of MSRP – .00290 Base Money Factor Rate
330Ci Coupe
24 mo/15k mi – Residual Value 69% of MSRP – .00150 Base Money Factor Rate
36 mo/15k mi – Residual Value 57% of MSRP – .00150 Base Money Factor Rate
48 mo/15k mi – Residual Value 41% of MSRP – .00290 Base Money Factor Rate
60 mo/15k mi – Residual Value 34% of MSRP – .00290 Base Money Factor Rate
M3 Coupe
24 mo/15k mi – Residual Value 68% of MSRP – .00290 Base Money Factor Rate
36 mo/15k mi – Residual Value 59% of MSRP – .00290 Base Money Factor Rate
48 mo/15k mi – Residual Value 49% of MSRP – .00290 Base Money Factor Rate
60 mo/15k mi – Residual Value 41% of MSRP – .00290 Base Money Factor Rate
330Cic Convertible
24 mo/15k mi – Residual Value 72% of MSRP – .00260 Base Money Factor Rate
36 mo/15k mi – Residual Value 61% of MSRP – .00260 Base Money Factor Rate
48 mo/15k mi – Residual Value 46% of MSRP – .00290 Base Money Factor Rate
60 mo/15k mi – Residual Value 38% of MSRP – .00290 Base Money Factor Rate
M3 Convertible
24 mo/15k mi – Residual Value 65% of MSRP – .00290 Base Money Factor Rate
36 mo/15k mi – Residual Value 57% of MSRP – .00290 Base Money Factor Rate
48 mo/15k mi – Residual Value 48% of MSRP – .00290 Base Money Factor Rate
60 mo/15k mi – Residual Value 41% of MSRP – .00290 Base Money Factor Rate
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I got the following:
Prem Package
Sport Package
Cold Weather package
Navi
Sat Prep
MSRP: $45,220 The only difference between our cars cars is the comfort access.
I pay $535/month.
All I paid up front was tax etc, no cap cost reduction.
invoice w/ metallic paint and heated seats is 37795. including destination.
the MSRP is 41,270
i have 2 offers:
39095 cash (1300 over invoive)
lease 645/month 26 months 15k per yr.(approx 900 down)
#2
38,600 cash
616/month 1800 down
674/month 674
what can i negotiate on the lease terms. there is no sec deposit as i am turning in another bmw
Any help or suggestions would be appreciated.
15,000 miles/yr.,36 mo. lease. $0.00 down.
2006 330xi MSRP $38,500 , Auto 1275, PP 2000, heated seats 455 & metalic paint 430.
or
325xi MSRP $32,800 same options.
All of the numbers get confusing. :confuse:
I would like to know what to start to negotiate with.
Thanks for any help.
MSRP 67545
-1100 = 66445
money factor .0034 (8.16%)
$1213 a month (includes 7.75% tax)
3 year lease 59% residual value.
The money factor is very high. Is there anything I can do to get this down? How much more off of MSRP should I try and negotiate?
Thanks for the help.
I just got a quote today from a dealer on a 2006 330i at Shelly BMW in SoCal. They are giving $1200 above invoice. I am also trading in a 2003 G35C I have on lease which has positive equity and they are willing to give me $2600 in credit for.
Is this a good deal? Thanks
24 mo / 12k mi Lease
Cap Cost: $43,060
Bank Fee: 825
Total Cap: 43,930
Cap Reduct: 1,600
Tax on Credit: 124
Net Cap: 42,330
MSRP: 44,920
Residual: 34,139.20
Monthly Payment: 540.76
License Fees: 352.75
Total Drive Off:2,617.51
Rate: .00210
Howard
Note that dealers in Miami do not give too much discount CAP-wise, and they usually charge acquisition at $825 and likely have the MF up as much as they can.
The car will have to be ordered from Germany, and I intend to take the factory delivery in Spartanburg, which I wanted to do, as it gives me 1 day of driving school. I intend to buy 2-day school, which will cost me some additional money, and this is not a big deal, because the first day is more and I believe that it pays to take 2 days as I have to go there anyway. The fact that I have to order does not make me happy, but it seems that there are not that many Artics with manual, black leatherette and BMW Assist around.
Please, let me know. Thanks.
MSRP - $33,420
Offer - $32,265 (right around Edmund's TMV price)
24 month lease with 12k miles/year
$475/month and $1696.02 due at signing.
Residual value was stated as $25,399.
Also, I plan to trade in my car that would be about $5500 on the trade in that I would put toward the lease. How would I calculate that? (just take $5500 out of the total payments?)
Thanks!