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BMW 3-Series Lease Questions

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Comments

  • dwade3dwade3 Posts: 1
    Hey Jenn,

    That seems like a decent pretty good lease deal you got.
    I also live in the San Jose area, do you mind telling me which dealer and also which sales person gave you the offer?

    Greatly appreciate it! Thanks!

    Danny
  • Just wanted to post up a followup question. Why are the MF rates so high on all these offers? Doesn't BMW need to offer what they advertise on their website?

    Advertised example:

    MSRP: 40,145 - 2500 (cash allowance) - 2000 (down payment) = 35,645
    Residual: 0.67 * 40,145 = 26,897 (assuming 10k/year)
    Months: 30
    Payment: 328 (I'm assuming this excludes sales tax? so actual rate will be higher)

    I calculate a MF of 0.000582 or 1.4% APR. Why are all the rates 4.68%? That makes a huge difference and seems to be how they're making the real money as the difference between those two rates makes ~$100/month difference. And I'm seeing people get rates on Infiniti, Honda, etc., that are around 0.0005, so what's the deal?
  • kyfdxkyfdx Posts: 136,481
    You are assuming a selling price of MSRP minus the $2500 incentive... The actual selling price is probably much lower, resulting in a higher money factor than you've calculated...

    It's hard to reverse engineer a price, without all the variables...

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • 36months/12k miles per year.

    thanks!
  • johnwang2010johnwang2010 Posts: 3
    edited April 2012
    the advertised is for 36 months on Edmunds, with dealer contribution of $2170...
    so msrp: 40145
    selling: 40145-2170-2500 = 35475
    residual .63*40145 = 25291
    months: 36
    downpayment: 2000
    mf: 0.0018

    then payment per month pre tax = 333

    so i do not know how the $328 comes out either... but close enough... maybe residual is 63.5%?? :)

    ------------------------ edmunds------------
    Monthly Payment Month Term Start End
    $328 36 04/03/2012 04/30/2012
    Down Payment: $2,000
    Security Deposit: $0
    Lease Cash: $0
    Annual Mileage: 10,000
    Restrictions:
    Lease is based on the 2011 328i xDrive Sedan equipped with automatic transmission and Premium Package. MSRP as equipped is $40,145. $2,170 Dealer contribution and $2,500 Dealer Cash (Build Out Cash) are required for the $328 monthly payment. Must finance through BMW Financial Services. See participating dealer for details.

    Comments:
    $3053 due at signing. Dealer participation may vary. Incentives and Rebates are provided subject to the terms of our Visitor Agreement. Tax, tags and insurance are extra.
  • Hi, to anyone who is interested: I just signed a lease on a 2011 328xi bmw in NYC:

    Lease term 30 months, 10k miles/year
    MSRP was $43,160
    $5,960 off for Initial Cap Cost of $37,200
    Paid $1995 down (+ taxes etc.)
    Residual 67% of MSRP or $28,917

    Monthly pmt of $335. BMW pays my first two months.

    Works out to Money factor of .00195 which is really high, but got a good discount I think on car. Any thoughts? What are other people getting?
  • Ok, I found the deal I was looking for:

    2011 328xi
    MSRP: 40,315

    With 2,000 down they were offering $290/mo but I wanted all taxes and fees rolled into the payments so I just signed for $384/mo and am very happy!
  • What was your money factor and how much did you get off msrp?
  • If anyone can help with the below that would be amazing!

    So I just started looking to get a new car. Currently I own an Acura TL 2005 with Navi and 93,000 miles. I owe $1500 on the car until i own it. The car was in one accident so car fax was just avg.

    BMW appraised my car at $8000 which I think is really good. I am torn between keeping this car and running it into the ground or getting something new while it has a great value now.

    Should I pay the car off in full then trade for the $8000 or just have them cover the tab and get the $6500 at bmw?

    Yesterday was my first day really checking out new cars so I went to the BMW Dealership. Below are the options the dealer worked up. Both cars are Black with Saddle Leather which i really wanted.

    Keep in mind I get $6,500 for my trade in as well.

    Lease options
    Option 1.
    2011 328xi (new) 12K Miles - 30 month lease ($0 DOWN)

    - Premium Package 2
    - Sports Pack
    - Value Pack
    - Winter Pack
    - Xenon
    - Navigation and upgraded sound system and sirius

    MSD PROGRAM (Security Deposit to Lower MF)

    MSRP: $45,390 - 2500 (cash allowance) - $1,378 (Extra $ off) = $41,512
    Residual: 0.66 * 45390 = 29,957 (assuming 12k/year)
    Months: 30
    MF: .00146
    Payment with TAX: $533.55/mo (1st two months upto $500/mo taken care of by BMW)

    On this plan I need to put in a security deposit which I get back after lease.
    Tax, tags, security = $5000 (3,850 of this security deposit)

    NON MSD PROGRAM (no security deposit)

    MSRP: $45,390 - 2500 (cash allowance) - $1,378 (Extra $ off) = $41,512
    Residual: 0.66 * 45390 = 29,957 (assuming 12k/year)
    Months: 30
    MF: .00195
    Payment with TAX: $571.75/mo (1st two months upto $500/mo taken care of by BMW)

    Tax, tags bank fee = $1200 due at signing

    Lease options
    Option 2.
    2011 335xi (new) 12K Miles - 30 month lease ($0 DOWN)

    - Premium Package 2
    - Sports Pack M ( i get the M on this not on the 328 above)
    - Value Pack
    - Winter Pack
    - Xenon
    - Navigation and upgraded sound system and sirius

    MSD PROGRAM (Security Deposit to Lower MF)

    MSRP: $56,050 - 2500 (cash allowance) - $2,924 (Extra $ off) = $50,626
    Residual: 0.63 * 45390 = 35,311 (assuming 12k/year)
    Months: 30
    MF: .00146
    Payment with TAX: $693.19/mo (1st two months upto $500/mo taken care of by BMW)

    On this plan I need to put in a security deposit which I get back after lease.
    Tax, tags, security = $5540 (4200 security deposit)

    NON MSD PROGRAM (no security deposit)

    MSRP: $56,050 - 2500 (cash allowance) - $2,924 (Extra $ off) = $50,626
    Residual: 0.63 * 45390 = 35,311 (assuming 12k/year)
    Months: 30
    MF: .00195
    Payment with TAX: $739.09/mo (1st two months upto $500/mo taken care of by BMW)

    Tax, tags bank fee = $1386

    Hopefully this is not too much info but any help with be awesome. I really liked the Sports M pack on the 335 but I dont know if i can jusitfy spending an extra $150 month
  • I'm actually not sure because I just told him my previous offer (after hitting a wall in negotiations and he gave me several options which were much better. But I believe I got 5,359 off MSRP and I'm calculating a MF of 0.00229 (which is bad, so maybe wasn't that much off). I can find out when I pick it up but to me it doesn't matter as long as, with zero fees and cap reduction up front, my payment is good. Because whether they take more off msrp or give me a better rate, the amount up front and how much I pay in total are all that matter to me. And I got this at World Wide BMW and we had a GREAT experience, I highly recommend. I didn't feel like I was at a car dealership at all.
  • james9487james9487 Posts: 9
    edited April 2012
    A MF of .00195 is not very good. It seems to be the offer they start with to anyone that walks in the door. As for the discount off of MSRP, I think the same applies. And for me, they offered more before I even asked for it (4,800 off of 41,215).

    So as for your 328xi offers, they can do much better based on of my limited experience and what I've read here. When I pushed on the rate, he lowered it from 0.00195 to 0.00162. But I still wasn't happy because the discount still wasn't enough from what I'm reading and since these cars are almost two years old and 2013 are around the corner they aren't selling these like hot cakes without a legitimately good deal. The 2012's, I'm sure, are another story.

    As for trade-ins, I'll defer to someone else, I don't know anything about this. I just assume you'll get a better price selling on Craigslist. But I don't know how much convenience is worth to you :)
  • Hi yerffejleahcim. Sorry for the delay in my response, I was away last week. Here's the information that you're looking for.

    BMW Financial Services' April buy rate lease money factor and residual value for a 36-month lease of a 2012 328i Sedan with 10,000 miles per year are .00190 and 65%, respectively for consumers who qualify for its top credit tiers.

    Car_man
    Host
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  • Hi theprogrammer. BMW Financial Services' April buy rate lease money factor and residual value for a 30-month lease of a 2011 328xi Sedan with 15,000 miles per year are .00180 and 64%, respectively for consumers who qualify for its top credit tiers.

    The residual values for a lease with 12,000 miles per year would be 2% higher. The 10k residual would be 3% higher.

    You're correct about the $2,500 dealer cash. I believe that BMW is currently waiving the first two month's payments on this car as well.

    Car_man
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  • The numbers that you were quoted for the 2011 335d that you are considering are indeed correct, jomama229.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • vlycavlyca Posts: 4
    Hi all, would appreciate your help on leasing a 328i. I've tried my best to read the guides and do some calculations... let me know what you all think. Thanks in advance.

    LINK I'M REFERRING TO: http://www.mckennabmw.com/financing/lease-offers.htm
    328i, Premium package, Automatic, Destination Charge MSRP $39,395
    $399/month for 36 months, 10k miles per year
    -- $399 First months payment
    -- $2,750 Down payment
    -- $0 Security Deposit
    -- $725 Acquisition fee
    -- $3,874 Cash due at signing
    Total lease payments: $14,364.00
    Residual: $25,607.00
    Tax/Title/License/Registration Extra

    BASED ON ABOVE:
    Cap cost (-$2750) = $36645
    Residual of $24,607 is 62.5% for 10k miles/year
    Monthly Depreciation = $39,395 - $24,607 = $13,788 / 36 = $383
    Total Monthly ($399) - Monthly Depreciation ($383) = $16 per month for monthly interest charges?

    So we can either consider it a very low money factor but paying MSRP vs regular money factor with a small discount on MSRP?
    What do you guys think? On top of this I'd like to add Xenon option and put less money down.
  • kyfdxkyfdx Posts: 136,481
    You've made a couple of errors..

    First... is the residual... you've typo'd it to $1000 less than actual... the correct residual is 65%...

    Second... you are assuming that the CAP cost is MSRP minus the downpayment... The ad doesn't state the selling price of the car. My assumption is that there is some sort of discount from MSRP, before accounting for the downpayment..

    Without that variable (selling price), you can't solve for the other variable (money factor).

    Also... these are just examples to show a low monthly payment.. With good credit, you can put down as little as you want (with a correspondingly higher payment). Of course, if you can negotiate a lower selling price, you can come out ahead all around.

    regards,
    kyfdx

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • vlycavlyca Posts: 4
    edited April 2012
    Thanks for the response Kyfdx. My question is, even with my errors, would that lease be reasonable?

    Otherwise lets wipe the slate clean... I'll tell you what I'm looking for and I would appreciate it if you guys can tell me whats a reasonable deal:

    2012 328i Base $34,000, Jet black
    Premium Package $3,600, Black Dakota Leather
    Steptronic automatic transmission $0
    Xenon headlights $900
    Destination % Handling $895
    Total MSRP as Build $40,295

    I would like a 12k miles/year, 36 month term with top tier credit.
    I'm in Fullerton (Orange County) but willing to go to Los Angeles Zip 92833

    1) What is the selling price I should try to get? Carsdirect price is $39,380. The true market value from Edmunds is $38,135. The invoice price is $37,100. Is $1,035 enough of a profit to be reasonable?

    2) Any truth in waiting until Memorial Day weekend to purchase?

    Thanks in advance for your help.
  • kyfdxkyfdx Posts: 136,481
    The advertised lease, without the $2750 downpayment is going to be around $480.mo.. Add $15/mo. for your higher MSRP, and you are at $495/mo. with around $1400 due at signing..

    Plus tax... so, around $540/mo.?

    (oh yeah.. add another $13-$15/mo. to get 12K/year, instead of 10K)

    I would guess that the advertised deal already assumes a selling price close to what you proposed.... so, you might be able to knock off a little more.... but, there isn't a lot of room, there..

    Cheap leases don't seem so cheap, once you take away the big downpayments.... :(

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • vlycavlyca Posts: 4
    Thanks for the input!
  • jdt5jdt5 Posts: 2
    Considering first BMW CPO purchase. Debating which is the better deal... 2008- 335, 30K miles, ~$26K vs. 2009- 528, 50K miles, ~$25K. Struggling with warranty "head-room" vs. roominess and HP. Thoughts or suggestions appreciated.
  • jakpennjakpenn Posts: 20
    Looking for a car to fit this deal!! they say there is none available in Texas?? If anyone can point me in the right direction, It would be greatly appreciated!
    Well-equipped with Premium Package, Value Package, Automatic Transmission and Destination charges. $328*/month for 30 months $2,500 Allowance available. First Two Payments, up to $500 per payment, paid by BMW FS.• $328 First months payment
    • $2,000 Down payment
    • $0 Security Deposit
    • $725 Acquisition fee
    • $3,053 Cash due at signing
  • 2good442good44 Posts: 1
    I was wondering how the $419/month is calculated from the details below? Anyone can explain the calculation to me? The salesperson is giving me a quote of $617/month for 10k and $3000 cash due/downpayment. I can't understand how it is $200/month more for a final selling price/MSRP of $45,510 after a preferred discount of $2,000. Geez!!!

    328i Coupe
    $419*/month for 36 months $1,000 Lease/APR Credit available.
    • $419 First months payment
    • $2,500 Down payment
    • $0 Security Deposit
    • $725 Acquisition fee
    • $3,644 Cash due at signing

    Above are the offers available in the San Jose, CA area.
    Change your Location *Lease financing available on 2012 BMW 328i Coupe vehicles, only at participating BMW centers on leases assigned to BMW Financial Services NA, LLC/Financial Services Vehicle Trust through April 30, 2012. Monthly Lease payments of $419.00 for 36 months based on MSRP of $43,195.00. Total Lease payments are $15,084.00. Excludes tax, title, license and registration fees.
  • Hi Car Guy- I am about to lease this car and wanted to know if it is a good deal:
    MSRP: $41360
    Selling Price: $37008
    30 month lease
    10k miles per year
    Residual: $27,711 (dealer said it's 67%)
    and the money factor is .00195

    my payments are $479 (including tax)
    Paid Upfront: $725 acquisition fee, $69 sales tax on cap (?), $75 doc fee, $10 NYS Inspection , $10 NYS Waste tire management totaling: $889 (first 2 months are free)

    Thanks so so much for your help!
  • gnosis8gnosis8 Posts: 9
    According to BMWconfig.com I got it for $326 over invoice of $42,655. Did I get a good deal?

    Total MSRP w/ destination & handling $895 = $46,095
    Selling price: $42,981

    2012 335i sedan
    Mineral Grey metallic
    Base (no line)
    Just two options: premium package, Sirius satellite radio w/ 1-year subscription

    36 months @ 12k miles/year
    MF = 0.00190
    Residual = 64%
  • ae86pwrae86pwr Posts: 9
    don't forget to ask about the Olympic cash offer ($1000)
  • hi ae86pwr,

    what is the Olympic offer??
  • What happened to the hosts on this forum?
  • vlycavlyca Posts: 4
    Was this the best price ever? No. But it was a good buying experience without the typical car dealership experience. It only took ten minutes to work out the deal. Most of the time spent there was waiting for them to detail the car. Thanks edmunds for all the preparation help. Wanted to give back to the community by posting my lease info:

    The Car:
    2012 328i Base $34,900, Jet black
    Premium Package $3,600 Dakota Black
    Xenon headlights $900
    Destination % Handling $895
    Total MSRP as Build $40,295
    -- The invoice price is $37,100
    -- The true market value from Edmunds is $38,135
    -- Carsdirect price is $39,380

    The Lease:
    -- Sell price is $38,600 -$1,000 rebate (did the test drive event) = $37,600
    -- Minimum drive off ($0 down/cap reduction)
    -- 64% residual on MSRP for 12k miles/year
    -- 0.0019MF (top tier credit >650)
    -- 36 months
    -- $489/month (CA tax included)
    -- For some reason this is below the estimate from the lease calculator on Edmunds.com
  • Hi greeneyes2. Both the selling price and the money factor that you were quoted look high to me. BMW is currently providing a $2,500 dealer cash incentive on leases of the 2011 328xi Sedan. If that is not being deducted from the selling price that you mentioned, the dealer is only discounting this car by $1,800 or so. That's less than a $2,000 discount on a leftover old style vehicle that has a spread of more than $3,000 between its full MSRP and its dealer invoice price.

    Furthermore, BMW FS' buy rate lease money factor for this car is currently .00180, so the dealer is marking your deal up there as well.

    I definitely think that you can do better than this.

    Car_man
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  • Hi gnosis8. I'd say that $300 over invoice plus the use of the buy rate lease money factor is a very good deal for a new 2012 335i.

    Car_man
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  • Hi greeneyes2. I haven't heard anything about any "Olympic" cash on BMWs. It certainly didn't exist the last time I looked into its offers. BMW is scheduled to introduce new incentives for May some time tomorrow afternoon anyhow. I would be happy to provide you with an update of what the new programs are look once I've had a chance to take a look at them.

    Car_man
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  • luka67luka67 Posts: 9
    Does anybody know the money factor, residual value and any incentives on the leftover 2011 3 series sedan?
    Thank you!
  • I sure do luka67. BMW Financial Services' May buy rate lease money factor and residual value for a 36-month lease of a 2012 328i Sedan with 15,000 miles per year are .00190 and 49%, respectively for consumers who qualify for its top credit tiers.

    I believe that BMW is still providing $1,500 dealer cash on this car.

    Car_man
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  • rickwellrickwell Posts: 15
    BMW is running an onsite promotion for test drives at selected dealerships. I did mine today in S. FL and will receive a $1000 credit to be used to purchase or lease a new BMW until October, 2012. Free food, drink and a solo test drive of a BMW of your choosing and, you get a grand for the effort!
  • gnosis8gnosis8 Posts: 9
    edited May 2012
    Ummm, Car_man I think you gave one or more wrong numbers when you said "36-month lease of a 2012 328i Sedan with 15,000 miles per year are .00190 and 49%". There's no way that applies to a 2012, and 49% generally seems way too low for any BMW 3-series.
  • warz00warz00 Posts: 31
    Did all the incentives disappear? Don;t see any on BMW web site.
  • Good point gnosis8. Those are the numbers for the 2011 model, not the '12.

    Car_man
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  • There's still incentives out there on the 3-Series. Specifically, BMW has $1,500 dealer cash and a special lease program on the '11 328i xDrive.

    Car_man
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  • warz00warz00 Posts: 31
    Thx - I meant to ask specifically about the 2012 model.
  • arodpopsarodpops Posts: 1
    Hi Carman, can you detail what the special lease program is for the 2011 328i xDrive?

    Thx
  • jhawkruzejhawkruze Posts: 2
    Hi Car Man,

    Can you please provide the money factor and Residual % for a 2012 335i Sport Package with 15,000 miles and 36 months?

    Thanks!
  • jhawkruzejhawkruze Posts: 2
    Hi Car Man,

    Can you please provide the money factor and Residual % for a 2012 Audi S4 Prestige Titanium w/15,000 miles and 36 month lease term?

    Thanks!
  • esqu21esqu21 Posts: 2
    Hi CarMan,

    Can you please provide the residual and MF for a 2013 M3?

    Thanks!!
  • m34lnchm34lnch Posts: 9
    Car_Man,
    Does BMWFS still do a .00020 rate reduction off their "standard" rates for super FICO of 740+ ?
  • You're welcome, warz00. The AWD version of the new 2012 3-Series is not available yet. When it does become available, I don't anticipate their being much in the way of support on it at first.

    Car_man
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  • Hi arodpops. BMW Financial Services' May buy rate lease money factor and residual value for a 36-month lease of a 2012 328i xDrive with 15,000 miles per year are .00190 and 54%, respectively.

    There is a $1,500 dealer cash incentive on this car as well.

    Car_man
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  • I'd be happy to jhawkruze. BMW Financial Services' May buy rate lease money factor and residual value for a 36-month lease of a 2012 335i Sedan with 15,000 miles per year are .00190 and 62%.

    Car_man
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  • Hi jhawkruze. This is actually the BMW 3-Series discussion. I believe that I just responded to your question about the A4 over in that discussion. Please check there. Thanks.

    Car_man
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  • Hi esqu21. While BMW has published a lease program for some 2013 models, mostly trucks, I have not seen anything on a new M3 Sedan yet.

    Car_man
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  • Hey Car_Man

    Last month's 2yr lease program on of the 2011 BMW 328xi has finish and BMW is offering specials on the left over loaner cars of this model.

    Haggling I have been given this offer:

    2011 BMW 328xi premium packaged (MSRP $42,590) selling price of $34,853
    Loaner car- 5k miles on the clock

    10k miles a year lease for 36months

    Residual(.57)= 24,276.30
    Money factor- .00190
    Advanced payment- $348.08
    Total cap reduction- $3,966.56
    Upfront charges- $1,185.36

    So thats a $5,500 payment on delivery and $348.08 a month lease

    Good deal or not?
    I'm thinking of pushing $325 a month, what do you think?
This discussion has been closed.