Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!

BMW 5-Series Lease Questions

1323335373884

Comments

  • mikesinymikesiny Member Posts: 7
    I just got an offer on a 528i from a dealer who was recommended by a friend at Open Road BMW in Jersey.

    For a 528i with
    Cold Weather Package
    Navigation
    iPod Hook Up
    Black Leatherette
    Alpine White Paint
    12k miles per year on a 3 year lease

    They want $3600 down, which includes taxes, plates, security fee (since I'm not currently in a BMW lease), and other fees.

    My monthly payments would be $599 a month

    Does this sound like a decent deal? Or do you think I can do better?

    Thanks in advance.
  • eights38eights38 Member Posts: 145
    reallybigarse - What dealer in NJ are you working with? Does the monthly payment include 7% NJ sales tax? If you need more help, please feel free to email me.
  • eights38eights38 Member Posts: 145
    mikesiny - What is the MSRP of the BMW? If you need more help, please feel free to email me or reply.
  • epaiukepaiuk Member Posts: 23
    Hi,

    I am getting the opportunity to buy a "new" 550 that is actually from 2006.
    Not actually clear why it is left over, I am still trying to get that information.
    Does anyone know what money factor a car like this is eligible for?

    Thanks!
  • mikesinymikesiny Member Posts: 7
    eights38,

    The MSRP is $48,025.

    Thanks
  • reallybigarsereallybigarse Member Posts: 10
    It is Circle BMW in Eatontown and it does not include the 7% tax.

    Thanks!
  • eights38eights38 Member Posts: 145
    reallybigarse - The lease price that you were quoted is not bad, but you could do better. Please feel free to email me and I will provide the name and number of a local dealer that will offer an aggressive price with exceptional service.
  • eights38eights38 Member Posts: 145
    mikesiny - The deal you received is strong. Backing into the lease payment, I think that you are receiving a discount of approximately $2,750. If you need more help, please feel free to email me.
  • mikesinymikesiny Member Posts: 7
    Thanks for your help eights38. I think I'm going to go ahead with the deal.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rdlesk. The car that you are interested in probably has a spread of around $3,700 to $3,800 between its full MSRP and its dealer invoice price. That probably puts the $1,845 discount that you were quoted at a little less than $2,000 over invoice. I am not intimately familiar with what the market is like for the 5-Series right now, but that is a lot of room. If you are in an area that has a decent level of competition, it would be in your best interest to shop around to see if you can beat this price. Make sure to stop by the "BMW 5-Series Prices Paid and Buying Experience" discussion to see how much other community members have paid for similar cars lately.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new 528i, tuckerman4. Thanks for taking the time to share the details of your lease with everyone. Make sure to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience. Enjoy your new ride :shades: .

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    That is a good question, epaiuk. BMW Financial Services is not offering leases on "new" 2006 models any longer. You might be able to lease this car through BMW FS though using its standard lease program or perhaps using its Certified Pre-Owned vehicle program. I am very curious to see what the dealer tells you about leasing this car. Let us know what you find out.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • mikesinymikesiny Member Posts: 7
    eights38,

    After some negotiating I was able to get her to $575 a month with $3500 down for the 528i I listed above. Does this sound like a good deal?

    Thanks
  • smithsongasmithsonga Member Posts: 123
    Mikesinv-

    In December, I got $500 over invoice on a 528i by working with 4 dealers. Then I moved on to the lease and got a dealer to meet the published MF and residual. I ended up with a $52k MSRP 528 for $600/month (with 7% GA sales tax, 24 month, 10k annual mileage), $1800 due at signing (1st month payment, security deposit, Doc fee and small cap cost reduction...long story)

    Be sure the lease deal is the published money factor and residual...and be sure they are not upcharging the Doc fee and ACQ fee.

    Good luck. It should be an excellent time to get a deal, if one dealer will not play, get more dealers involved.
  • mikesinymikesiny Member Posts: 7
    Thanks a lot smithsonga.
  • mikesinymikesiny Member Posts: 7
    The salesperson I spoke with over the phone misunderstood me and thought I was asking about a 24 mo. lease from the deal I had above above. I spoke with someone from Life Quality about getting a 24 mo. lease as it is a better time frame for me. Here is my deal...

    MSRP $48,125
    Alpine White 528i
    Black Leatherette
    Navi - $1700
    Cold Weather Package - $750
    iPod USB Adapter - $400
    12,000 miles per year

    After talking to 3 different dealers I got the salesperson down to $3000 down (taxes and fees etc.) with $580 a month.

    If my calculations are correct (according to my spreadsheet), this would be $500 over invoice on the car with the options. Does this sound like a fair deal? Or do you think I can do better?
  • smithsongasmithsonga Member Posts: 123
    Hard to determine the deal. We know this:

    published MF is .00225 and residual for 2 year, 12k miles is 75% - what is this dealer offering?

    MSRP is 48125, but what is agreed upon price?

    If I use your $3k down...subtract $580 first month, $600 security deposit, $500 doc fee (very high), $200 taxes/fees and add $699 ACQ fee to the price of the car. I get $1120 cap cost reduction in the lease. So final price would be near $47700..not much discount (44300 invoice). (based on 6% sales tax and assuming you are getting the published lease rates)

    Seriously, you should be able to knock the doc fee to $300 and remove the cap cost above. I would try for $45500 price, $300 doc fee and published lease rates. That would give you $530 payment (6% sales tax, lease rates above), due at signing is $530+600+300+200=$1630.

    try this lease calculator www.leaseguide.com

    Good luck.
  • mikesinymikesiny Member Posts: 7
    Wow, I guess I'm still a newbie lol. Very confusing, but thanks alot for taking the time to help me. I can't believe they would try to charge me $50 a month more then I should be paying. That's $1200 extra over the period of the lease. I will call a few places and try a little more negotiating.

    Thanks again
  • zambiandoczambiandoc Member Posts: 1
    Hi there, Just needed some advice about a lease i m looking at. My current BMW lease is coming to an end and I m looking to get another one. I m looking at an 08 535xi with the following features:
    1. Premium pkg
    2. Cold weather pkg
    3. Sport pkg
    4. Park distance control
    5. Navi
    6. Logic 7 sound
    7. iPod USB adapter.
    12k x 36 months
    As a returning customer I should get a rating of 0.0018%.
    The MSRP i m being quoted is $59,425.
    My returning lease has excess mileage amounting to about $2600.
    So here s my question. what kind of ball park monthly am i looking at and will the dealer swallow the excess mileage? Also please excuse my ignorance but what exactly is the invoice price? Any help would be appreciated. cheers.
  • ribnarribnar Member Posts: 1
    Hi I am new to this forum and have a question. I am from Chicago IL.

    I am interested in leasing a 2008 535i with Premium package and Sports Package.

    The MSRP is 57,525. I am told by the dealer that there is a special factory discount of 2500 plus i haggled another 2000 out of them and the net cap cost for the lease is 53000. I am new to US and hence do not have any credit history.

    They agreed to lease based on my job details, company letter etc. but here is the deal i am getting for a 36 month/18000 miles per year:

    Depreciation 60%, Money Factor 0.00375 (APR 9%),

    Total lease payment is $889. Is this worth exploring?
  • hemorsehemorse Member Posts: 34
    I have a 2006 750LI whose lease expires in 3 months. I'm paying $1179/mo. I am about $1,000 over in mileage, and probably will need new tires at lease end.

    I have found an AWD 535xi listing at $64,555 loaded. Here are my options and I need some opinions from you financial folks:

    1. Dealer pays of everything. I give dealer $3500 and I get a 24/month, 15,000 mile lease for $980 including tax, and can turn my 750 in today.

    2. Same as above but I only give dealer $1,000, but my payment goes to $1070/mo including tax and can turn my 750 in today.

    COMMENTS??? Dealer claims this to be rock bottom with a new February 15th incentive, good until February 29th.

    If I do not do the above deal, I am interested in the new Acura RL ($54,000) and especially the new Hyundai Genesis ($36,000).
  • carnaughtcarnaught Member Posts: 3,497
    Coming off a 750i, you would probably not be happy with the Acura RL or Genesis, definite steps down.

    Do your lease figures for the new one include tax? Choice #2 seems like the better deal with less down and less total payments, yes?

    Your "penalties" for over mileage and tires, I believe are about $.20/ mile and BMWFS would charge you about $300-400/ tire. (You should double check this.)

    The real question is: do you like the 535 AWD?
  • tankantctankantc Member Posts: 1
    So what you are saying is if I am being charged .0024 for the money factor and 73% residual on a 24 mo, 12,000 mile lease I am not getting the published rates?

    Can you please let me know where you got those numbers so I can take it to the dealer?

    Thanks for the help!
  • smithsongasmithsonga Member Posts: 123
    2008 BMW 528i Sedan
    24 Month – Residual 73% of MSRP – .00225 Base Rate
    36 Month – Residual 60% of MSRP – .00225 Base Rate
    48 Month – Residual 40% of MSRP – .00275 Base Rate
    60 Month – Residual 32% of MSRP – .00275 Base Rate

    2008 BMW 535i Sedan
    24 Month – Residual 71% of MSRP – .00225 Base Rate
    36 Month – Residual 60% of MSRP – .00225 Base Rate
    48 Month – Residual 40% of MSRP – .00275 Base Rate
    60 Month – Residual 32% of MSRP – .00275 Base Rate

    Add 2% for 12k miles to the residual.

    google Feb 2008 bmw lease rates, you will get plenty of links.
  • eights38eights38 Member Posts: 145
    tankantc - The dealer can increase the money factor to make additional profit, but the residual can not be altered. What dealer are you working with? If you need more help, please feel free to email me.
  • granoffjgranoffj Member Posts: 3
    A dealer in NJ; I did lock in January, but have been traveling for several weeks so never finished getting the car. I am back home now and am going to move forward. Are all the numbers the same as January?
  • x021627x021627 Member Posts: 152
    yes.
  • dli79dli79 Member Posts: 3
    Hi, the sales guy I've been working with says there is a 2500 rebate off of the 5 series that were in stock before 2/14--so here is the deal he's giving me on a 528:

    MSRP 54975 (checked this number and this is correct)
    Selling price 52350
    Cap cost 49657.17 and this includes the 2500 rebate
    I told the dealer that I want 2500 max in total drive off fees: 1st payment 700.72, license fee 404, acquisition fee 825, tire fee 8.75, cap reduction tax 228.14, acquisition tax 68.06 and that totals 2234.67, and he says the 265.83 difference will be applied as a reduction off my selling price.

    He then mentions a fee of 2365.01 + 134.99 which totals 2500 and he says that is the rebate that was applied towards the selling price (which reduced my cap cost to 49657.17)

    My calculations are 52350-2500-265.83=49584 should be my cap cost and when I mentioned that he said there is a 45 doc fee and another fee for 28. It's my understanding that the those two charges should be inclusive in my cap cost reduction.

    Can someone please tell me if this guy is giving me a good deal?
  • banneheimbanneheim Member Posts: 12
    Our local ad has ths advertised... 2008 BMW 528i/ $443.55/month 24 month lease, 10K. All that is due is $2000.00, first month's payment, doc fee, acquistion fee. Can anyone tell me what the fees are and how can they arrive at such a low amount?
  • x021627x021627 Member Posts: 152
    unless I missed it, I didn't see you mention security deposit.. are you a returning BMWFS customer. without money factor and length of lease, hard to figure out your payment without those.
  • dli79dli79 Member Posts: 3
    Hi, he did not mention a security deposit and I'm not a returning BMW customer. I am doing a 36 month with 12K miles/year. Thanks!
  • dli79dli79 Member Posts: 3
    I forgot to about the money factor-he gave me 2.6
  • mkp6ermkp6er Member Posts: 9
    Hi,
    I'm shopping for a 2008 M5. A few weeks ago I received a quote from a northern Calif dealer for $500 over invoice based upon Edmunds prices and options. Today I received a quote from a Southern California dealer for a price $1000 under invoice based upon Edmunds price guide.

    So what's the problem? When I go to the BMW (bmwusa.com) website to configure the same car, it shows an MSRP within $200 of the price quoted to me. I also saw on another site that the dealer holdback is $2558. Is this correct, and does this give me more room for negotiation?

    Which site should I use to price this vehicle? What should I expect to pay for this car relative to advertised MSRP or Invoice ?

    thank you,

    :confuse:
  • jmgoldsmithjmgoldsmith Member Posts: 18
    I'm planning to lease a 2008 528i in Oakland, California. I prefer a 3- or 4-year lease with 12,000 miles per year. What is a competitive money factor for a lease of this type? Thanks.
  • ocautoseekerocautoseeker Member Posts: 425
    2008 BMW 528i Sedan
    24 Month – 75% / .00225
    36 Month – 62% / .00225
    48 Month – 42% / .00275

    * Residual values based on 12k annual miles.
  • banneheimbanneheim Member Posts: 12
    BMW 528i, just the $2300 premium package. MSRP: 47375, 12K,24 month, residual 75%/.00225 with approximately $1560.00 due up front (includes $509.66 1st month payment, doc fees, tags $525.00 security deposit) acquisition fee is rolled into payment. My question is do I have to put down the security deposit to receive the MF? Also, salesperson mention a $1500 rebate, i'm getting. Is there a rebate program going on right now. He says offer is good until Friday. Should I pull the deal?
  • jmgoldsmithjmgoldsmith Member Posts: 18
    Is the following deal good?

    2008 BMW 528i with the following options:
    Premium Package
    Sports Package
    Comfort Access
    Heated Front Seats
    Park Distance Control
    Xenon Headlights
    Navigation System
    iPod and USB Adapter

    MSRP: $55,475.00
    Selling Price: $52,520.00

    Lease Term: 36 months (12,000 miles per year)
    Money Factor: 0.00245 (5.88%)
    Residual Value: $34,394.50 (62%)

    Total Monthly Lease Payment (excluding taxes): $741.36
    Total Drive-Off Payment: $2,124.81 (first lease payment + license / registration + security deposit)

    Which of the terms, if any, should I try to negotiate further? Thanks.
  • banneheimbanneheim Member Posts: 12
    Here's what I settled for. 528i with the Prem Package, 12K 24 month lease, 1168 upfront (includes first month and a $525 security dep) 528.66 month( includes 3% sales tax). I was at the dealership for about 1.5 hours, easiest sale I've been through, very impressed with the salesperson. Did I do ok?
  • altecbxaltecbx Member Posts: 3
    Need help on to know whats my best lease price for it.

    Premium Pkg.
    Sport Pkg.
    Cold Weather Pkg.
    Automatic - 6 Speed Steptronic
    Navigation System
    Comfort Access
    iPod connection
    Park Distance Control
    Metallic Paint

    MSRP: $59,025.00
    Selling Price: $55,500.00
    Lease Term: 36 months (15,000 miles per year)
    Money Factor: 0.00225
    Residual Value: (60%)
    Down Payment: $4000
    Taxes: 8.375


    Most dealers are between $785- $800 a month.
    Anybody getting better numbers?
  • maril556maril556 Member Posts: 8
    It seems dealer wants $1500 over invoice, which is not the greatest discount you could get.
    Also, there is $2500 dealer incentive on the cars in stock, which obviously your dealer failed to mention.
    MF is 0.00180, not 0.00250.
    So, go to Edmunds lease calculator and determine what is you monthly payment should be.
    BTW, 24 months deal might make more sense with a residual of 70% for 15K annual.
  • mphines1mphines1 Member Posts: 1
    Hi - I am a resident of IL - and BMW offers owners choice here as a way of avoiding lease tax laws in the state. I was quoted the below and I think its a fair deal except I think they still have room to move and wanted to get an experts opinion. Please let me know!

    Trade in: 2006 BMW 330xi with 21K miles. Trade in value is $31,800 - they are "offering me" $26,500. This is where the disconnect is - I was hoping for a break even on the trade in (the lease isn't up until October - this seems to be where I am losing money - by breaking early). The car is in great shape, low milage - let me know if you need more info.

    New Car - 2008 528xi. with Premium Pckg, heated seats, Sirius Satellite radio, and iPod/USB adaptor. Price they are quoting me is $47,995. Which appears to be $350 over invoice according to Edmunds.

    APR is 6.75% (which they claim they cannot change and is set by BMW as part of the owners choice). Sales tax is $1980. I would put $3K down and my payments are $842.18/Month.

    My question is - what do you think of the new car deal and what options do I have on the trade in. I'd like to see the payment get to around $750/month and I think they could do this if I could break even on the trade in - which is what I proposed to them. Do you guys think this is possible or have any info I could use as a bargain? Thanks!!!!

    Mike
  • carnaughtcarnaught Member Posts: 3,497
    If you do the deal now, you should at least break even on your lease trade in. Or else, I'd wait till your lease is just about up (about 6-8 wks. prior and consider ordering it) and negotiate for a 2009, IMO.
  • bruiseraexbruiseraex Member Posts: 9
    I recently leased an 08 535i with Sport, Comfort, Nav, Ipod, Heated Seats for 24mo/12K. MSRP $58375. D.O. only. $715/mo incl tax. I believe gross cap cost was about $1K over invoice (forgot to verify this) $55250 plus acq fee. Buy rate. No pack on the Acq fee. Socal.

    I was a car salesman for several years so I am sympathetic towards the salesmen. I walked lots off hours or during slower times (early weekdays) mostly to check out cars I was interested in so as not to "stroke" anyone and deny them an opportunity to help a more serious buyer during potentially busier times. I did my research mostly via Edmunds and it is an excellent resource. I did contact a few dealers by phone to get quotes and only worked with two that I felt good about. As a former salesman, I like to see someone make an effort to earn the sale with earnest interaction and rapport and who respected where I was coming from. Those are the ones I discussed price with seriously and was straightforward with them about my background and price goals. As long as I got close to my goals and the salesman did his job properly and respectfully, I didn't quibble over a couple of hundred dollars. My deal took just a few short phone calls. The first salesman I didn't make a deal with because I started at some ridiculously low numbers not due to a negotiating tactic but due to miscalculation and lack of complete information on my part. All the manager did was come out and say he couldn't do it without any further effort to learn how I came about my numbers or working with me. I went there to BUY, not shop numbers. I had to research later online to find out how off base I was and appropriately readjusted my payment goals.

    I have to say that of all the lots I walked or the salesmen I observed, BMW salesmen are by far the biggest pricks I encountered. Salesmen are supposed to EARN your business, not wait around for people to throw money at them. BMW salesmen demonstrated the worst habits of car sales.
    1. "prequalifying" a prospect (big no no) by observation only. This means they looked at me, didn't consider me to be a "big fish" and ignored me. Didn't even bother with a cursory greeting. Just guys standing around talking, quick look at me, then back to their social conversation among themselves. I'm no poor schmo looking slob but I don't go out of my way to look like I earn mid-six figures a year. Gee, sorry for not having that written on my forehead for the BMW salesman to see.
    2. One thing I learned in the business and from my managers is never let a hot prospect walk off the lot if could help it. These guys acted like they didn't need your business just because they represent BMW's and the cars sell themselves. In that case, BMW should get rid of the traditional car sales model entirely and go to the CarMax/Best Buy sales model. That first BMW dealership I went to could have had the sale.

    I wasn't going to buy a BMW till I drove it and learned about the incentive. It's also an incredible driving car. Unfortunately, the engine broke down 4 days after my purchase 75 miles from home on a late weekend night and had to be towed to a dealership on Monday. Lost almost all engine power while on the freeway from San Diego back home to LA. I had put 211 miles on a 27mi when new car. Oh well, at least my lease is only for 2 years. My first European car. My last European car. In the meantime, I'm staying overnight at the Ritz Carlton Laguna Niguel and BMW damn well better pick up the tab. Shoulda gotten the LS460.

    By the way, the Lexus salespeople were universally excellent and courteous (Santa Monica Lexus). Absolutely no attitude or reduction in service even though I told them that I was just looking and didn't want to waste their time. Go get a Lexus. Better service, better car.
  • starr5050starr5050 Member Posts: 2
    Hi,

    I got a lease price of $619 a month 36 months 10k miles. $3980 upfront includ taxes, first month security depoit etc. The MSRP is $52,225 (GPS, Cold Weather and Premium Packages)

    Is this high? Any help on this would be much appreciated.

    Thx
  • barkowbarkow Member Posts: 5
    Does the $2500 dealer incentive on cars in stock apply in all states? I am shopping for a 535i in South Florida and am trying to make sense of the dealer lease ads,this forum is enlightening
  • echiuechiu Member Posts: 18
    Hi, does anyone have the March residuals and MF for both the 535i and 550i? I am looking at either 24 or 36 months at 10k miles per year. Thanks.
  • skobolaskobola Member Posts: 207
    Are there still any incentives and/or owner loyalties left for 5-series, and if so, are they the same or changed. Just as a reminder, the 5-series had $2,500 incentive for the vehicles in stock and 0.00045 reduction of MF. Please, let me know. Thanks.
  • mkp6ermkp6er Member Posts: 9
    I've had a 3series BMW for the past 11 years with no major issues. It's a great car, very reliable, still very fun to drive.

    I agree with your points about the BMW sales people -- too judgemental and they refuse to negotiate price. I've tried to purchase or lease a new M5 for several months, and had many salespeople tell me it is a car for executives, too pricey for me, I really dont want that car. The best part is most dealerships refused to let me test drive the car unless I committed to purchasing that day!

    I went out and purchased a Mercedes e63 instead- much better buying experience and an awsome car.
  • bruiseraexbruiseraex Member Posts: 9
    Got my car back within 1 day in the shop. I had a defective fuel injector that was replaced under warranty. Salesman was a bit afraid that I'd be angry and blame him. As a former car salesman, I knew better than to blame him personally for a manufacturer issue although I did expect him to support me fully if I ran into any further problems. Though I am not angry and viewed the incident with good humor, breakdown of a brand new car regardless of brand is unacceptable.
    The ride and handling are superb. Well damped for comfort and incredible in turns. The BMW controls are maddeningly complicated even though I consider myself tech savvy.
  • jeqqjeqq Member Posts: 221
    I read your post in astonishment. You were a former car salesperson and you thought and I quote you the "Salesman was a bit afraid that I'd be angry and blame him. I knew better than to blame him personally for a manufacturer issue although I did expect him to support me fully if I ran into any further problems. " I'm sorry but you are kidding us, you can't be serious.
This discussion has been closed.