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BMW 3-Series Lease Questions
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
15,000 miles per year is the highest mileage allowance that BMW FS publishes residual values for. If you need to drive more than that, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-endn and have to pay an excess mileage penalty.
BMW is providing a $1,000 cash incentive on leases of this car right now. Make sure to take it into account during your negotiations.
Car_man
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Here is my latest negotiation results:
335ixdrive sedan, MSRP 57, negotiated to MSRP 49K, 24mths, 24Kmiles, 640/mth, 1700 down
It was pretty easy to get these numbers, so any advice would be greatly appreciated if I should go for even better numbers.
MF-0.0013, Residual-68%
Thanks in advance.
VEHICLE: 2013 BMW 328i Sedan
Base Price $36,850.00 MSRP
With heated front seats, Harman Kardon sound and metallic grey paint (+ Destination and handling):
MSRP = $39670
Selling price offered to me = $36,105
Lease Terms
Lender BMW Financial Services
Term 36 Months
Mileage 12,000/year
Money Factor 1.3
Residual Factor 62%
Selling Price $36,105
Total Capitalized Cost $36,105
Residual Value $24,595.40
Total Depreciation $10,264.16
Capital Reduction $1245.44
Monthly Depreciation $285.12
Monthly Rent $77.29
Monthly Payment $362.41
Tax (9%) $32.62
Monthly Payment + Tax $395.02
Capital Reduction $1245.44
Cap Reduction Tax (9%) $184.54
License & Registration $370.00
Bank Fee $725.00
Documentation Fee $80.00
First Payment $395.02
Security Deposit $0.00
Drive Off $3,000.00
Trade Equity $0.00
Rebate $1,000.00
Due at Signing $2,000.00
Your cost over the life of lease: $2000 + (395.02 * 35months) = 15825.7 correct?
When you put it that way, it sounds like a lot for something that you don't get to keep at the end of the payments. But oh well. I'm already fantasizing about driving it.
Are we sure that it's going away?
Thanks Jason!
335i Convertible 36 month/ 10k miles *No loyalty*
Premium Package
Comfort Access
Navigation
Satellite Radio
Net: 57,800
Dest: 895
Total Suggested Price: $58695
MF: 00130
Residual: 65%
Signing: 1st months, Fees and Insurance, Upfront Taxes: $944
Rebate as Cap Reduction: $1500
Total Cash on Delivery: $944
Monthly Payment: $549 plus 6% tax
Total Monthly Payment: $582
I dont really understand why the add the rebate as a cap reduction and then give you the rebate zeroing it out, but I am sure there is some benefit to the dealer doing it this way.
I think it is a good deal and other dealers have told me they cant match, so I am thinking I am at the bottom, but just wanted to know what you guys thought?
Any help would be appreciated,
Thanks,
Matt
If you're getting the factory rebates, then your deal is ok. If you go to bmwconfig.com you can see what the invoice is. The factory rebates should be taken off the lowest negotiated price, then that would be a great deal.
I think I'm getting hosed on the MF and RV. I'm being told in Phoenix that it's 0.00170 and RV 64%. So I'm not sure the truth of that.
Where are you looking to buy? If you go to bimmerfest in dealer section you can find a dealer who will sell at invoice. They are known as sponsors. I found Jon Shafer in Santa Barbara, CA who was quite upfront. I think he also increased the MF but overall more honest than 8 others I've talked to.
If you know anything good, feel free to pass it along.
Good luck,
Ash
12,000 miles/yr. 36 months
$464 + tax (9.25% in so cal)
$2000 drive off ($1000 rebate included)
residual $27,369
I dont think it is best deal but would like 2nd opinion
thanks,
Membership comes from either serving in the military or being children of USAA members.
2013 BMW 328i
Premium
Sport Line
Mineral Gray/gray leather/brushed aluminum
Heated seats
Window Tint added (no charge)
MSRP $44,395
36 Month, 12k year 62% residual, MF .0013
Negotiated Price: $41,200 (does not include any incentive)
Additionall Incentives: $750 loyalty
$1000 f30 incentive
$500 USAA leasing incentive
$up to $500 first payment incentive (turn key program)
Payment 35x $436 (disregarding tax). No money down, no security deposit.
Pull ahead program is interesting. I have 44,000 mile on my 2011 BMW 535i (stick) and BMWFS is paying the last three payments of $820 plus paying my first new lease payment. To me this was a no brainer as my miles (45,000) were about used and my lease ends 18 July 2013. In essence it is like being forgiven $2,500 plus the first payment - so an additional $3000 into the deal.
Anyone else get this program notice in the mail. BMWFS only gave me one week just after I paid my 4th to last payment. I thought this was too good to be true. The big catch is finding a car you like in the short time you have been given.
Ask for Les Cutler @ Pembroke Pines bmw and tell him Igor sent you.
I thought the lease credit of $1K has already factored in the deal to make monthly payment of $369/month.
But this month, BMW has the same exact lease deal, just without the $1000 lease credit.
Assuming there was a $1K lease credit, would that mean the monthly payment could be lower than $369/month when we applied the lease credit to make the MSRP lower than $42,845 as indicated in the deal? (I understand that there are other fees, tax... that make the actual payment a lot higher than $369 but that's not what I'm asking here)
Generally, I was told that usually the best lease deal is the deal that is given to you by the manufacturer because the manufacturer has already factored in price discount, low money factor, high residual value... that the dealers would not be able to offer out of their own pocket. Given this advice, I would have walked in a BMW dealer to ask for the lease deal on a MSRP $42,845 car for $369/month (before other fees) assuming the $1000 lease credit had already been included to make this deal. But it looks like it's not the case.
Sorry again for this very basic question. I've never leased before and in the market to lease a BMW in the near future.
The $1000 comes either from BMWFS or from dealer discount assuming residual and money factors the same.
I never seem to be able to find a car like the ones advertised.
When making a lease offer. I put the price at invoice, assume best Money factor and all rebates as cap cost reductions.
March was end of a quarter so it may explain some really good deals out there.
I have a couple of questions.
Question 1. Has taken advantage of the College Graduate Program? Were you allowed to combine the incentive with other offers?
Question 2. I leased a BMW in April of 2007 and at the time I called the 800# completed my application through BMWFS. I was given an approval number that I was able to take to any BMW dealer
Today, I’m in the market to lease again. I applied at one dealership thinking I had a good deal, but once I found this site and took the time to crunched the numbers it wasn’t very good.
I called BMWFS to get my approval number and found out that my application is only good at the dealership I initially applied at. If I decide to lease the car through another dealership I would have to resubmit another application and have another hard inquiry on my CR.
Does anyone know when BMWFS started having the dealers make the credit term decisions?
Thanks
BMW, Mountain View, CA
335i, M Package, Tech, Navigation, Heated Seat, Estoril Blue, Dark Dakota Leather....MSRP $54,220
Final Price $50500, then I told them I want to lease it for 12K/year with MF .0013 (I believe you can go lower if the dealership is in the need of getting their bonus. The MF .0013 the BMWFS standard charge for lease, and the dealer will try to mark up .0019 to make extra $, DON"T DO IT)
$50500....Negotiated Price
$49500...$1000/discount for Recent Grad
$49000...$500/USAA Member
$33616...Residual Value
$725.......Acquisition Fee, the sale manager tried to mark it up to $925
$1074.....Registration/Initial Fee/Doc fee...
$5000.....Down Payment
Then my monthly payment still at $538/month, which equivalent to $23830 for a total lease.
$725+1074+49000=50799
(50799 + 33616) *.0013 = 109.8 * 36 = $3950...Rent Charge/Finance Fee
49000 - 33616 = 15384/36 = $427 Lease Payment a month.
$427 + $109 = 536 * .08625% = 582/Month
Above is my calculation and I hope I am right.....$582 *36 = $20973 is Total lease payment with $0 Down.
The Deal at MV BMW gave me was $538/month with $5000 down which equivalent to $23830
It's about $2857 different from what I saw when I was at the finance office. I just simple get up and walked out on them, then the finance manager told me "so what would you like your monthly to be". As soon as I heard that phrase, I know right away it's a shady deal.
I hope this help! Good Luck
50799 – 33616 = 17183/36 = 477.30
(50799 + 33616)*.0013 = 109.74
Which = 587 * 1.08625 = 637.68 * 36= 22956.40
23830 - 22956.40 = 873.60 different.
I may be wrong though.
It would appear the dealer made no money on my deal. however, all were happy, The salesman, the sales manager the FI guy. They even sent chocolate chip cookies in the mail in a BMW tin. Nice touch but all indicates that salaries were paid. No one put in a swimming pool but all were happy.
BMW has no holdback but I once again suspect hidden incentives at work here?
Dealer gets the aquisition fee, a sold car, and my lease turn in to sell if they like it.
Regards
What is the MF and residual % for 36 mo 15k mi /yr lease? Best credit.
thanks
2013 328i Estoril blue
M-Sport Package
Tech Package
Nav Package
Dark Dakota leather Seat
8SPD Auto/Paddle Shift
BMW Apps
Driver Assistance Package
MSRP $49,595
Raymond told me $44,985 is the lowest the dealer will sell it.... I was like wow straight to price, no haggling, I like it, done! Roughly around $1000 below invoice price.
Then I have $500 USAA Incentive, $1000 Recent Grad....
No Down Payment at all....$570 + Tax (15k/yr) 2 yr lease
Lease the vehicle using Security Deposit Program to buy my MF down to .0008 ( I believe you can get this lower too but i was in need to get a vehicle).
Good Luck Guys!
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Just to make sure I understand correctly:
- March lease deal 369/month for 36 months for a 328i xDrive with $1000 lease credit (MSRP of $42,845)
is essentially the same as:
- April lease deal 369/month for 36 months for a 328i xDrive (MSRP of $42,845) (not stated in the advertisment but residual value was boosted to keep the monthly payment the same)
Is it correct?
if the car is under $50,000 then March's figures look better for a 3 series sedan with $1,000 Lease credit.
if the car is over $50,000 then April's figures look better for the same car.
This is my first lease - your assistance is greatly appreciated!
BMW 2013 328i Sedan
Sport line, Automatic, Premium Package, Tech, Lighting Package
MSRP $48,895.00
36 Mo/10k miles per year
Money Factor 1.29
Residual Factor 65%
Selling Price $44,740.00
Bank Fee $925.00
Total at drive-off:
$45,665.00
Residual Value $31,781.75
Total Depreciation $13,883.25
Capital Reduction $0.00
Monthly Depreciation $385.65
Monthly Rent $99.91
Monthly Payment + Tax inc.
$528.04
I want to drive off paying only registration and first months payment! I qualify per BMW Financial.
Sport line, Automatic, Premium Package, Tech, Lighting Package
MSRP $48,895.00
36 Mo/10k miles per year
Money Factor 1.29
Residual Factor 65%
Selling Price $44,740.00
Bank Fee $925.00
Total at drive-off:
$45,665.00
Residual Value $31,781.75
Total Depreciation $13,883.25
Capital Reduction $0.00
Monthly Depreciation $385.65
Monthly Rent $99.91
Monthly Payment + Tax inc.
$528.04
__________________________
I wouldn't take that deal because I know you can get it lower from MSRP.....Look at my lease deal above.....$570/month for a M package, literally loaded.
1) you can get the dealer go lower on the MSRP, I got mine 5k off MSRP ( go to peter pan bmw and talk to Raymond, say that Kyle send you)...this guy gave me a straight up deal no haggling at all.
2) you should do the Multiple Security Deposit will drop your MF from .00129 to .0008....save you at least $1300 on the rent charge. I pay my rent charge only $1302 for 2 year lease with 15k/year.
IMO, I only like to do 2 year lease with 15K/Year....go to peter pan bro! Highly recommended, I went to 4 dealer in the bay area, they are gave me a run around BS!..
GOOD LUCK! I hope my answer help you!
http://www.bmwusa.com/standard/content/Vehicles/2013/3/328ixDriveSedan/OfferDeta- il.aspx?NAModelCode=133U&OfferType=2®iontypeid=2
Even though the $1,000 cash incentive went away, BMW boosted its residual values for this car to offset the loss of the cash and keep its advertised payment about the same. BMW plays with the residual values for its vehicles all the time. They are typically significantly higher than what the real residual would be for its models.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
The numbers for an otherwise identical lease of a 2013 335i Sedan are .00129 and 62%, interestingly exactly the same.
If you were to lease either of these cars with only 12,000 miles per year, its residual value would be 2% higher.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
For 3 years 508x36 = $ 19009.44
then finance the residual at 3% ($31785) for 60 months comes to $36480
Total at the end of all payments $55,488 for a car with with negotiated price of $ 45665.
Does this sound right? Why not out right buy the car from day 1.
Not including car insurance and all etc.
Price $45665 at 6.5% sale tax plus 3% finance rate x60 months + $873.88
Total after 5 years $52432.80. Not including car insurance etc.
One still saves $3000 close to.
I don't understand.
Please elaborate why should I lease?
Thanks
BMW 2013 328i Sedan
Sport line, Automatic, Premium Package, Tech, Lighting Package
MSRP $48,895.00
36 Mo/10k miles per year
Money Factor 1.29
Residual Factor 65%
Selling Price $44,740.00
Bank Fee $925.00
Total at drive-off:
$45,665.00
Residual Value $31,781.75
Total Depreciation $13,883.25
Capital Reduction $0.00
Monthly Depreciation $385.65
Monthly Rent $99.91
Monthly Payment + Tax inc.
$528.04
But, the main difference between your two scenarios is three extra years of finance charges under the lease, then buy plan..
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Could you share with us money factor and residual value for 24-month lease of a 2013 328i xdrive with 15K miles? Thank you.
I read in a few forums that you save more money on a 2yr vs 3yr lease is this why you choose the 2yr? Also 10k vs 15k mi per year?
I will check into lowering the MSRP. You think I can lower my bank fee $925 and Money Factor of 1.29? Can you also give me an opinion on the Residual Factor factor at 65%?
Lastly, can you explain what the multiple security deposit is? I assumed 0 down was the best way to go but it sounds like you pay more somewhere in the contract.
335i coupe + premium package (47,995 msrp)
10k miles/year
Includes $1500 lease credt
Nothing down.....monthly payment , inc tax = $537/month
What is the take on this deal?
Dealer hasn't given me a straight answer.
If it's 5% off MSRP, then there's really no discount at all, since TMV (as I've configured my car) is almost exactly 5% less than MSRP.
Any help would be appreciated.
If it's 5 percent less, then you have the correct take on it..... they are basically charging you MSRP minus the discount..... no discount at all...
I'd shop around..
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Let me ask you: If you know, is it possible to pay below invoice for a 335i XDrive,; or there not enough manufacturer incentives for this? Should I shoot for $800 above invoice, or could I do better? What do you think is a reasonable price to pay for this vehicle? $500 above invoice? $1000 above invoice?
Thanks.
Incentives are your free money, not the dealers.
Negotiate car to +500 over invoice (INCLUDING FLUFF FEES LIKE DOC FEE DEALER FEE) THEN subtract incentives you qualify for to go under invoice.
Not "Hey dealer I have $1,500 in incentives, I want to be at +500 over invoice"
Considering a 328i @barebones + moonroof and planning to email a few dealers for quotes. At what point do you let them know whether you're leasing or buying? Thanks in advance! And any recommendations for no-hassle dealers in Jersey would be appreciated
Still need to figure out if diplomatic pricing is a cash rebate, or 5% of MSRP--which is useless.
Appreciate your input.