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BMW 3-Series Lease Questions
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Comments
Thank you so much for your help!
if there's a change for May, I'm sure Car man or one of the other hosts will post it.
You're welcome.
I was confused about this...But the MSD's do not also get applied as a cap cost adjustment right...double dipping. But just confirming haha!
If you are a returning customer there's a 750 credit and If I factor in then the dealer is selling you the car for roughly 1500 above invoice. If you do not have that credit as a returning BMWFS customer then the dealer is only marking up 750 over invoice.
Bottom line is there's room to improve. Read the forums and you will see that people are paying around ~500 over invoice i think for the 3 series.
So my question is how should I deal with this MF mark up? Should I flat out say lower my MF because I think I am getting 0.00129?
If there are other dealers in your area, shoot them an email with theprice you were quoted, and tell them that if they can match the price and give you the base money factor, they have your business.
if you're in MD/DC/VA area, I can refer you to the person I dealt with.
I was curious if those more informed can advised me if this is a good deal. I have worked through several dealers and believe I have solidified a good deal on a 36 month lease for a 335i Xdrive Sedan with a 6 speed transmission. The only package the car has is the M sport package with Estoril blue.
The car has the following ala cart options: Heated Seats, Navigation, Upgraded sound, and BMW Assist. The dealer is in New Jersey.
The MSRP is $52,970
The invoice price is $49,260
Term: 36 Months
15,000 miles per year
No cash down payment
only fees due at signing
monthly payment $553.00
I appreciate anyone's assistance. Thank you!!!
I you want to challenge it, I think you could call BMW and let them know that you were not properly informed that the money factor had been marked up.
it does not have vin number just my optional package and agreed sales price.
It doesn't say anything about Mf or residual or any finance information.
Hopefully they will be able to lower the Mf or I am probably looking to cancel this and move on.
It's not about paying $20 that makes me want to cancel but it dealership's usual lying behavior that makes me ticked off.
And our car just ended production too.
Dealer offering for $45.2K. 3 year lease. MF = 0.00129. Rebate of $1500, but doc fee and acquisition fee wipe that out. And because I live in georgia TAVT is 6%. Trading my car in so able to put $4500 down. Monthly payments come to $439/month for 12K miles.
Any thoughts on if this is a good deal and where I can negotiate? New car similarly equipped for similar down and trade has been quoted at $540/month.
Since this is a lease, I am not too concerned about the demo driving if I get a good deal.
1. BMW Freehold. Good price. Professional. Easy to work with. My only grouse against them is their trade-in process for non-BMWs. They just dont have the infrastructure so you have to put up a craigslist ad or go elsewhere. In my book wont work - if you're a car dealer I dont care what you sell, you just cant get snobbish about trades.
2. BMW Mainline. If you're the negotiating type unlike me, you can work a deal. Responsive customer service.
3. BMW Bridgewater. Good for stuff on the lot. Not so good for custom builds.
4. Thompson BMW.
5. BMW Mt Laurel. Be very cautious and on guard at all times.
6. WorldWide BMW was the worst - no response at all after a truecar offer!
Good luck with your 335xi 6 speed! Nice ride;)
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD
Also, a good website apart from this forum on educating and mentally pacing/bracing oneself would be fool.com ( http://www.fool.com/Car/Car.htm ). Its shocking how some of the older pieces there are still relevant. And I couldn't believe how many times the sales folks claimed they were under invoice already - are they really that insulated from these forums/websites?!
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD
However there is two important things to keep in mind when trading in a vehicle on a lease. First, I always like to keep both transactions separate. This means to negotiate a great deal on the new vehicle that you want and then see how much the dealer is willing to give you for your trade. I'm not saying to be deceptive about the fact that you want to trade something in, just to treat them as two different transactions. This keeps things simpler and prevents dealers from playing with the numbers.
The other thing is to not use the proceeds from your trade as a capitalized cost reduction for your lease. You already know that I advise against making large down payments on leased vehicles. You can and should just have the dealer cut you a check for any equity that you have in your trade.
As far as the money factor goes, BMW dealers are notorious for marking up vehicles' money factors, so it is very possible, perhaps even likely that the dealer will not calculate your vehicle's payment using the buy rate unless you absolutely insist that they do so. And even then it's sometimes tough .
$1,400 in fees seems a little steep. How does it break down? BMW Financial Services charges a $725 acquisition fee on every vehicle that it leases. This fee is unavoidable, but you should keep an eye on it because dealers sometimes try to mark it up by a couple hundred dollars as well.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
The residual value for a lease of this car with 10,000 miles per year would be 1% higher.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
BMW is still not providing any cash incentives on leases of this car in May, other than the loyalty offers.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I have managed to lease 328xi with premium, tech and cold weather package, dark burl wood trim and white and beige interior.
MSRP 47500k ~
INVOICE 44K
SALE 43.5K ~
MF 0.00129
RV 62%
0 DOWN
only taxes, 3yrs tags and 200 dealer fees.
15/36
505/month.
Once again, thank you all. My wife loves the car.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
You can find the pricing data for that vehicle right here at Edmunds.com ! Here's a link:
http://www.edmunds.com/bmw/3-series/2014/options.html?sub=wagon
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
1.) 36 Month. 15K/yr.
2.) 24 Month. 15K/yr.
Thanks.
I'm also in the market to lease a 2014 3 series wagon. Have you had the chance to go down to the dealership and look at numbers?
I'm hoping to lease it for under 600 a month with tax; with less than 2500 down, with 15k. I want the tech and premium package.
do you think this is possible given the residual they want?
Thanks so much for the response. I'm actually in San Francisco and would be willing to pick the car up in Southern Cal if I couldn't get a good deal up here.
The MSRP on BMWUSA for the setup I want is: $51, 925.
Thanks again mbz01
I think the sales price is around 43,000 with 62% residual and MF at .00127 but not sure.
This is total payment including 6.5% GA TAVT below.
36 month/15k miles
$604 a month with $706.00 out of pocket
$583 a month with $1495.00 out of pocket
Is this a good deal?
BMW 328xi
MSRP = 51925
Negotiated Price = 48250 (roughly $250 over invoice)
Dealer Invoice = 48,030 (I assumed approximately 92.5% of MSRP. Local dealers here have confirmed that as a good number - so it's close if not perfect.)
Money Factor - .00127 as per Car_man
Residual value - 57% (You should ask Car_man to confirm this. My rate was 59% residual on 12K miles, but you are looking for 15K)
Down payment = 2000
Using online calculator and 9% sales tax I get the following payment of = 607.96
If you put 2500 down, payment drops to $592.13 (tax is included)
Couple notes:
1. I have assumed you are negotiating a price a couple hundred dollars over invoice. Not all dealers will go here. Only one in my area was receptive to that - if you can not get there locally, I will pass on the first name of sales guy and dealer.
2. I assumed residual was 57%. You should ask Car_man to confirm this - its a big deal if its wrong. Give him milage (15K/yr and term of lease = 36 months) as these affect residual.
3. The car you want will likely have to be ordered. The dealers who have any in, are ordering just one - and then using it to generate orders. No one was really dealing on what was on their lot if they had anything at all - and if they had anything, it will likely not have what you want. And if they have it, it has what you want, they are likely not dealing... That was my experience anyway. The one car per lot seemed consistent from SD - LA.
4. It is commonly written on here that putting money down is not advised on leases - but it is not uncommon to put a small amount of "cap reduction" down to get to a lower payment - others can address that if they want. It may be wiser to go with nothing down and have a slightly higher monthly - though there is definitely a psychological barrier value that can't be figured on a lease calculator)
Finally, if it were me, I would use the internet. Calling or going in is futile if you are trying to deal on price. If Car_man would be kind enough to confirm the numbers above, I suggest you fire a note to the local dealers all at once with your specs and the numbers from above and ask them if they would be interested in doing business with these numbers - to see if you get a bite. In my case, not all were interested - but I found at least one that was good to go. When you open with money factor and residual, you avoid a lot of the game playing. I simply asked if my numbers were right, and the ones that wanted to discuss confirmed. Then it was just finding the one who would deal on sell price.
Good luck. Post your results here if you do go forward with it.
Thank you so much for the info! I can't tell you what a help that is!
I have already test drove the car and it seems like what you said is consistent; that the dealerships have just one. I didn't really get into prices with the dealer, other than looking at what it costs without discussing discounts. At the time I wasn't sure which car I was going to get serious with, but after driving the Audi Allroad, it was clear. Dealing over the internet makes complete sense and I don't mind dealing with a dealership outside the local ones here in the bay area. In fact, it would be nice to drive it home after picking it up.
I will make another post to Car_man and confirm the numbers with him.
I am hoping to go over my miles too much, but I was thinking if I do, I would buy it and then flip it. do you think that's possible? selling a 3 year old 328i wagon for roughly 27000 with say 55k-60k miles?
Lastly, do you know roughly how long it takes to receive it, after placing an order? have you ordered yours?
Thanks again mbz01, it's very much appreciated.
I have spoken to mbz01 about leasing a new wagon and he was extremely helpful in helping me prepare to negotiate leasing a new 328i wagon. He said that you can help confirm the money factor and residual. I want to lease it with 15k miles a year and mbz01 thinks the residual will be 57% - can you please either confirm or deny this? Can you please confirm the money factor for such a lease?
Thanks so much, this forum is a huge help.
Mineral Grey
M Sport Package
Harmon Kardon upgraded Sound
Navigation
Leatherette
Heated Seats
BMW Assist
Dynamic Handling Package
Aluminum Hexagon Trim
36 months
18k per year
$2061.97 at signing
$580.00 per month.
For a made to order car, that's good.