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BMW 5-Series Lease Questions
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Either way, sounds like you are stuck with the 535 lease already setup.
Thanks
Smithsonga - I'm not "stuck" with the 535 lease - I want it. I'm considering keeping the 2005 330Cic as an extra car. $25,700 for a CPO car with 3.9% financing is pretty darned attractive. Non cpo cars are selling for about the same price on ebaymotors and don't come with 3.9% financing.
The car is equipped as follows:
Premium Package
Cold Weather Package
Xenon Lights
Fold Down Rear Seats
IPOD/USB
Satellite Radio
Parking Distance Control
The MSRP is $57,395.
I negotiated a sales price of $51,075
(a discount of $6,320 or 11% off the MSRP. The guy on this forum who says you can get free premium package AND a 15% discount is delusional)
To this was added $725 Acquisition Fee and a $299 D & H Fee
Total Cap. Cost: $52,099
Down Payment: $0
Miles: 10,000
Term: 36 mos
Money Factor: .00125
Residual: 58%
Payment: $629.23 (Before Sales Tax)
Security Deposit: Waived
I tried really hard to get them to lower the MF to the buy rate of .00115, to no avail. The other dealers in the area were were quoting .00135 or .00150 and I couldn't get them to budge. For some reason it's easier to get them to lower the price than the MF. (Maybe the finance guys make money on this part?)
In any event, I wanted to lower the payment a bit, so I decided to take advantage of BMW's multiple security deposit offer. Here's the way it works: For each refundable security deposit you post, up to a maximum of 7, they lower the Money Factor by .00007. This actually works out to be a pretty good deal. I decided to post 3, for a total of $1,950 ($650 X 3). This lowered my MF to .00104, which lowered my payment from $629.23 to $611.30, a monthly savings of $17.93 or $215.16 per year. This represents an 11% rate of return on my $1950 investment - about 10% better than I'm getting leaving it in the bank!
Finally, I'll get a check from the BMW Car Club of America for $1,000. For those who don't know, if you're a member in good standing for at least 12 month prior to the time you purchase or lease a new BMW you're entitled to this rebate. It costs just $40/ year to belong. Everyone should take advantage of this.
Stk#91141 VIN#C153134 2009 528i xDrive Sedan
Jet Black/Black Leatherette. Auto, Power Seats, Heated Seats, iPod/USB adapter, BMW assist w/ Bluetooth, Sunroof.
MSRP$49,425. $2,500 down pymt+$725 bank fee+$550 sec. dep.+$525 1st payment = $4,300 due at signing + T/T/L. Ttl pymt/Res. $18,900/30,085.50
36 months/10,000 miles per year. .20 cent over mileage
subject to credit aproval and vehicle availability
How does this compare? I'm not leasing, I'm going to buy a CPO, but I thought you'd lilke this as a point of comparison. Good luck.
Please help me on a 2008 X5 3.0 lease in upstate NY. It is a holdover DEMO with 2,500 miles. MSRP $55,325, Selling price $49,700 Lease: 36 mo./12k miles
Includes: Premium Pkg, Cold Weather Pkg, 3rd Row, Rear Climate, Rear DVD & Park Distance
Residual is (56%)? & Money X = .00125 (3%)
Monthly payment $699.66; included taxes and zero $ down payment
Question 1: is this a good deal or could they come down? they wouldn't budge when I asked for accessories or lower payment. should i just take it at $699 or what is the REAL monthly # I can get this down to? dealer said "No X5 goes below $700 with zero down". Any truth to this?
$2,405 due at signing (inception fees)
$699.66 1st month
$625 bank fee
$225 office fee
$155 plates
$700 security deposit
Question 2: can i negotiate any of the fees (bank & office)?
Since the car is a demo I lose my BMW CCA loyalty rebate, and the dealer will still not budge. Dealer in NY said if I don't pull the trigger by Tuesday, he will not honor the offer and has other buyers wanting the car.
Questiion 3: What can I get him to throw in or work with me on? Possible tire waranty since they are run flats?
Please help me, I need to decide in next 48 hours.
I think this is a decent deal and would be a really good one if you could get them to come down another $500 - $1000 dollars, which would reduce your payment to $683 or $667, respectively. But hey, if you like the car, what's another $16 - $32/Mo!
Last thought - If you give them 7 more refundable security deposits ($4900), your MF would drop to .00076 (1.82%), your payment would drop to $655.38, so you'd effectively be getting a 10.8% return on your deposit! Best of luck.
When I deduct the residual value from the MSRP, something does not compute.
$55,325 x 56% =$30,982. This is correct.
However, the dealer is telling me the residual is $30,144. Does this mean he is trying to make money on the $898 difference? By his calculation its 54.4%.
Are you also saying if I put money down, I might be able to change the MF from 3% down to 1.82%. I think the MF was set by BMWFS?
Really appreciate your advice...
Go to this website to download an xcel spreadsheet that you can use to calculate the lease. If necessary, show the spreadsheet to your dealer and input the numbers together, so you understand what's going on: http://www.ridewithg.com/
The way you reduce the MF is not by "putting money down", but by posting additional, refundable security deposits. BMWFS lowers your MF by .00007 for each additional security deposit you post.
I had a good conversation with a salesman at a BMW dealer in CT here about a nice 2007 530xi I have my eyes on. It's got 18K miles, and they're asking $39K for it (premium package, sports package). He told me the car had one owner, went into service APRIL 2008!! The owner bought it in New London (BMW dealer), lives in New Haven, traded it in for a 7 Series! He practically read me the service record for the vehicle. It has no issues, except a power window issue which they fixed. The warranty covers the vehicle until April 2014 and the 50K mile warranty goes until 2012. I'm going to see the vehicle over the weekend. The guy was totally transparent and answered every question I had. No pressure whatsoever. The first owner turned the car in at 16K miles, and then a BMW rep had the car for the next 2K miles. The salesman told me I could speak to that BMW rep about how the car handled anytime I want. I'd love to get that car for about $36K, do you think I have a chance. I don't want to insult them either, but I'm not paying sticker price, or I'll walk. I only spoke on the phone, emailed him also. If I go look I don't speak to anyone, I just scope out the car, and that's it. I don't let them get me inside or it's all over.
Meanwhile, at the other dealer in Westchester county, NY, where I saw another 530xi 2007 last week, but wasn't that crazy about it, the sales woman called me about another vehicle they just got in, going through certification, and "maybe you should put down a deposit because they're a lot of sales reps here, the car might go...." But I wouldn't hear of it without seeing the car. She thinks I will like the car. Actually I saw the car listed on the BMWUSA website, it wasn't even out on the lot yet. That' s a pretty good way to track down vehicles by the way. You can search by your zip code, 10 miles, 50 miles, whatever you choose.
I don't know what I'm going to do, but I'm thinking it over carefully. I figure the car is almost new, let's face it, and the warranty goes for another 5 years. I pretty much decided to pass on the 2008 535i I saw and went nuts over, because that's just too over-powered for me.........then I think hey, the market lost 500 pts the other day, but you know what...there are a lot of people not around anymore and I think of them, and I say to myself, hey, you only live ONCE.......
Any thoughts?
Premium, sport, navigation, metallic paint
Is this a good deal?
Also, a newbie question, is it worth to spend $100 more per month for 535i over 528i
Thanks for the help.
Item 13. J. is however, "Other." I note that I paid $825 for "other" when I did my last lease. I have notes that say this charge was a "lease fee."
Did I get hosed? I think I did.
Is there a standard BMW lease fee? If there was, why wouldn't BMWFS have a line for it on this document?
Fool me once, shame on you...
Thanks.
Have you struck a lease deal yet? I'd be interested in knowing what price you were able to negotiate in relation to invoice, and what money factor they are offering. I'm trying to do a deal now on a 535 and I'm hearing money factors of .00215 from a couple of dealers. I thought I was seeing .00175 out there as the rate I should be able to get.
At the time you leased, the base fee was $625, with dealers permitted to mark up the fee by $200 (which most of them do).
As of this October, the base fee is now $725, with dealers permitted to charge up to $925.
regards,
kyfdx
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""Regarding the price, it is $ 37990. The price is negotiable. I would like for you to see the car and let me know how much you think is worth.
When can you stop by?""
Are you ready for that one?
Then, I'm looking at a beauty, absolute pristine 2007 White/beige 530xi in upstate CT, asking price $39,900, has 18K miles on it. Guy bought the car new in Apr 08, the warranty runs until April 2014!! Traded the vehicle in for a 7 series. Salesman was totally transparent, discussed everything I wanted to know. Has premium and sports pkgs, no cold weather (luxury vehicle with out heated seats? seems odd to have chintzed on that.) I told him already about the Westchester pricing, he didn't buck me. I'm not paying anywhere near the $39,900 for that car, much as I'm drooling over it.
The 2008 535i in another dealer is STILL sitting in the lot, almost two months later! They came down from $42,995 to $39,995 "internet special" price. The car is still sitting there, has 28K miles on it. I've ruled that one out, as it has too much power for me, I don't need turbos or want them. Too technical. Also, I insist on that black trim around the windows, and only the Sports Package provides that. Most of the 528i have chrome.
Any thoughts?
Gardis in CT
I have some thoughts on the cars but I guess I would like to know if you are absolutely comfortable spending almost 40k on a used beemer. If you evaluated every similar vehicle available in the market and feel this is the brand that will meet your needs, then go for it. I still think you will be able to do much better given two factors. One--- you have the patience to wait for the luxury used car market to continue to sink. The lots are full --- there are so many late model high priced low mileage cars at the dealers around here that something has to give. The depreciation factors these dealers used which determine residual value and prompted them to buy at the auctions 6 months to 3 years ago could not forsee the glut of cars choking the dealerships since few are buying. They are leasing additiona space in LA to house the stream of unwanted inventory.
Two -- you have to have the cash/financing/credit rating to hit the showrooms with a swagger. You won't need the ruby pinky ring -- leave it on the dresser, but if you are comfortable with this level of purchase, you represent the shining light of most showrooms. You really are in control.
Let me know where you stand on these and I can offer an opinion.
PS...... you can always get a set of electic undies at the motorcycle shop-- they plug into the cigar lighter.
530 xi prem/cold/sport 26k mi 30250
530i prem/roof/cold 6485 mi 33800
525xi loaded white 27800 mi 28900
530xi nav/prem/cold 22k mi asking 32900
Lots more and guess what --- nobody's buying at those prices. And nobody's going to be buying for months at those prices. Supply and demand -- too many cars and no buyers --- gee,I wonder what's going to happen?
If you can buy in this market and you are patient then you can do much better than what you've offered. Go visit the dealer on new years eve and take along a down payment. You never know what might happen.
thank you kyfdx--you probably saved me $200.
As far as my deal, it is about $1600 over the invoice price you would get by using this site--this is also about $1000 over what the dealer considers their price to get the car off the lot as they get hit for advertising ($365), a training fee ($180) and they pretend to add some prep charges.
Specifics: 535xi, cold, premium, sport, comfort access, fold down rear seats, nav, HD, Satellite, Logic& sound, iPod. With destination, MACO and training it totals $64095 and my price is $60705.
Maybe coulda done a bit better but with 103K miles on my 2002 X5 that doesn't like to get going on the cold mornings, I am just looking forward to having a nice new ride with all the stuff I want and none of what I don't. And kyfdx just saved me the other $200 that I could have gotten.
I hope that helps.
Del
It is a 2008 demo with 8K miles on it. It has the sport package and the premium package. htd seats, sunshades, a few other options, nothing big. no navi. Leasing as new, previously titled by bmw.
MF .00125
Redidual .57
Window sticker on the car is 59K, they are selling it for 46K.
any input would be greatly appreciated. I dont know much about leasing.
thank you!
Interesting. But those ebay cars are not CPO are they? Those are privately for sale I imagine. So the dealer is going to say, no comparison. But I agree with you. I've been avoiding going to the dealer, though they've been calling me. I sent a email to them that two other dealers with identical models (530i, 2007) were in the mid to low $30ks.
Let's see what happens. Problem is I don't have the guts to go to the dealer and sit there , and then walk out. I'm afraid I'll pull the trigger and pay too much.
Gardis
Please help me with some advises if I should go for the 335 engine or the 5 series space? Thanks in advance.
2008 528i, Premium pkg, Sport Package, ipod, Xeon lights, heated seats, Navi. List $54,325. Drive off $2400 (1st pmt $620, DMV $434, Sales Tx $108, Cap reduction $1238) Cap cost $48,839 which includes $725 lease fee. Residual 58%, money factor .001150...36 months, 10K miles per year...Monthly pmt $574 plus CA sales tax. Its a beautiful car...gray with black leather...
Any thoughts?
Is this reasonable? I have nothing to lose, this is a third car. If they say no, then I drive my old accord for a while,butalsolooking at the Lexus GS 450h.
Thx
Yes I am. The one I was interested in still available, they came down in price without provocation from me to $36,900 from 39,900. Car is a 2007, 520ix, 18K miles, pristine. I'm still hemming and hawing what with this economy. I'm driving a 1996 328i with 106K miles. I'm also thinking (not too too seriously) of Lexus RX, would love to know if anyone has an opinion of this car. Though, pricing same as 530i. I heard they're changing the styling big time for 2010 model, doesn't seem sensible to buy a 2008 now, and have it obsolete with better styling in one year does it?
write me,
gardis in CT
gardis72@gmail.com
Metallic Black with Leather
Premium Package
Sports Package
Navigation
Ipod Interface
heated seats
xenon lamps
$523 a month for 10K miles and 36 month lease
Car was stickered at about $55250
Did I get a good deal?
I am new to this forum, but have learned a lot from reading all the advise and entries. I am looking to lease my first BMW and hoping to get a great deal on a 2008 528i. I have recently requested a quote from a dealer and this is what I got:
2008 528i
Premium Pck
Sports Pck
Ipod
Xenon lights
Nav system
MSRP $53,275 - Includes $775 destination charge
Selling Price $48460
Edmunds True Market Value is $49672
Invoice $49505
as you can see the price they quoted me is below TMVand invoice, but since this is their first quote I assume I can get an even better price. If so, how much of a discount should I try to negotiate?
Look forward to your advice.
I need this same info. for Dec.
Thanks in advance
2008 535i Factory DEMO with 3000 mi on it
MSRP: 59125.00
Cold Weather
Premium
Sport
Shift Paddles
Sunshades
Fold down rear seats
Park Distance
iPod
Dakota Leather
The deal ended up as 343.23 per month including taxes with 5500 down. It was a 36/10000 lease. So was this a good deal???
I test drove a 2008 535i, executive demo with 1500 miles. This car has Premium Package, Cold Weather Package, Sport Package, Bamboo Anthracite Wood Trim, iPod Adapter, Xenon Headlights, Power Rear Sunshade, Satellite Radio Prep, PDC, black leather. The lease offer is -
36 months/10k
MF .00071 (with 7 muliple security deposits $4400)
$550 per month (plus tax)
$490 (DMV fees, NJ luxury tax)
$1075 (Bank fee plus Doc. fee)
$1455 (Total upfront Sales Tax or can be rolled over)
Total down $7950 (includes 1st month payment, MSDs, sales tax, DMV and bank fee).
Is this is good deal.