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BMW 5-Series Lease Questions
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Comments
$499 without tax.
Car_man
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Car_man
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I have heard anecdotally from other community members that dealers have tried to charge them a higher than normal money factor for vehicles delivered using the European Delivery program, but I do not know what BMW's official policy is on this matter. This may just be dealers trying to use Euro delivery as an excuse to mark money factors up.
Car_man
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Car_man
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The easiest way for me to evaluate this deal would be for me to take a look at what this car's selling price is in relation to its full MSRP. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is difficult to tell how much of a dealer discount you are being given. Let us know what they are and I am sure that either myself or another helpful community member will be happy to give you their opinion on this deal.
Car_man
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Unfortunately, given its lack of popularity and the large number of variables associated with them, I do not personally keep tabs on manufacturers' used vehicle lease programs.
Car_man
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Car_man
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Based on BMWs sales results for May 2009, is $500 over dealer invoice reasonable?
I leased a 2006 X3 and the lease term is due soon. I visited several BMW dealers. Their leasing prices varied quite a bit. The one that I bargained the most gave me the following:
MSRP $52875 - Premium, Cold, I Pod and Xenon
Credits applied: $1,500 loyalty and $2,500 for the 2009 528 Xi model
Price offered: ~$4,6700
Walk away payment:$1,000 (1st month and registration, etc)
15K per year
Monthly payment: $606.
I tried to negotiate it down to $575 per month, the dealer won't budge. They claimed that they are below their cost and can't close the deal. Chriscar earlier replied and indicated that they dealer is already $400-600 below invoice.
According to my calculation using the online lease calculator, in order to offered me th $606, the adjusted cost after 1,000 down should be around $46,460 with a depreciation of $17,215. The Tax in NJ is about $1,500. The money factor has to be around 0.00110.
Do you agree with them?
I took delivery of a 528 last saturday 05/30 just prior to those deals expiring.
Thanks again, I am curios if I were passing a good deal and should be regret now.
What was you deal, do you mind to share it with us?
If you can find a dealer that will lease you a 2010 528 at $500 over invoice, go for it. That's a good deal.
Car_man
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So then is the following reasonable to ask BMW for?
2010 528i
$250 over invoice
.00145 money factor
60% resid on 3yr/36k
Acquisition fee: $725
MACO: waived
Tech/training: waived
The salesperson proposed a money factor of .00185 but based on your last post that seems high. They also asked for $500 over invoice, MACO of $400 and Tech/Training of $180.
I just want to know what is a reasonable counter offer. Thanks for all your help!
with all these low prices and incentives is there a way to strike a deal for a 2009 535.
i want to lease now.
BMW 535i
300 Alpine White
LCNG Natural Brown Dakota Leather
ZCW Cold Weather Package
ZPP Premium Package
ZSP Sport Package
205 Steptronic automatic trans
322 Confort Access system
416 Rear sunshades
508 Park Distance Control
5AC High Beam Assist
5DF Active Cruise Control
609 Navigation system
677 Premium hi-fi system
Priority 1
453 Front ventilated seats
MSRP 67,275.00
Discount 1500
Taxes 640.00
Title 1986.72
0 down
Net Sale 68,401.77
Lease Month 999.00
Is this a good deal? :confuse:
Rock
Rock
2009 BMW 535 i xdrive demo with 6100 miles.
Original MSRP 59670
Vehicle options:
Cold Weather Pkg
Premium Pkg
All Wheel Drive
Steptronic Auto trans
ipod & USB adaptor
Navigation system
Sattelite radio w/ 1 yr mbrship
destination charge ($825)
Offering for $51995 minus 2500 cash = $49,495
Money factor .00175
36 mo. lease
50% depreciation
$725 Acquistion fee
$201.46 Document fee
$650 Security Deposit
6% sales tax
Dealer says lease payment comes out to $639 per. mo (includes acquision fee) tax extra (150 due as a total amount at lease signing), but I'm not sure if this is accurate. I used a lease calculation and came up with $584 (which includes tax and acquision fee built in) but maybe my calculation doesn't count because I used a calculator for leases that have to be new cars? http://www.edmunds.com/advice/leasing/articles/48365/article.html
Not sure, since this vehicle has miles on it.
How does this look?
And how do I know that the mileage hasn't been manipulated?
You will be out the acquisition fee that you paid for the lease, though.. ($725-$925).
regards,
kyfdx
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You pay $45K... At the end of three years, the car is worth $25K.. The car payoff declines pretty much linearly between those two numbers, over the term of the lease. (A purchase payoff declines slower than that, as more interest is charged when the balance is higher.. Finance charges on a lease are averaged over the entire lease term).
Since the actual depreciation will likely be faster than that, you'll take the same loss when you try to re-sell the car that you would take in a purchase, anyway..
I'm not sure what car you have now, but you might see if you can extend the lease for one year. That would surely be cheaper than any of the scenarios you are comtemplating. If you have a BMW, they generally won't do that, unless you have another BMW on order.
regards,
kyfdx
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I like the idea of assuming a lease, yourself... That way, your costs are fixed, and you don't have to worry about whether you are going to get rid of the car on time, or for how much...
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2010 535i xdrive
Premium pkg
Sports pkg
Satellite Radio w 1 year membership
Value package
Navigation
36 mos lease with 20K miles per year.
I offered 2500 down as cap reduction
List price of car is 58,870 which includes 825 destination
Monthly payment with taxes came to $825/month
Due at signing total was $2500 down plus first months payment and security deposit of 500.
Dealer was using 58% residual and .00175 lease factor. Sale price after my cap reduction was 55,080.
Tell me what you think.
Is this true and if so where do I find more resource on this so I can take advantage of it
Please see my source below: link title
"BMW is providing dealers with $5000 factory-to-dealer cash deals on all 5 Series and M5 models that will allow dealers to discount prices heavily on those models — if they choose to do so"
Thanks in advance for your response.
The Mercedes dealer-principal in Maine (there is only MB dealer for the entire state) complained to me years ago that he couldn't make any money. His discount from MSRP was a measley 6% or so and after you discounted the car, you were in the hole. The only way to make money was on leasing. Leasing he continued was a source of easy money with the various fees up front and at the back end plus it was a source of good used cars as the lessors re-upped because they never had any equity. But, he continued, the damn Maineiacs were too contrary to lease and just paid cash for their MB!
Show me a guy jumping from one lease to another, and I'll show you a guy who is way over his head and throwing money away. Dealers love you guys.
I pay $720 with $2000 due at signing with 15K miles.
The sticker cost was $51800.
It is over in August and I would like your valued advice on how to get a good deal on my next lease. I would like to get this deal closed by the second week in July.
Do I mention that my lease is ending?
I would also like to get two leases. Do I negotiate both at the same time? Or do I negotiate one deal and then tell them that I need two leases with the same deal?
I just want a base model 2010 528i.
What should I negotiate?
What should I expect to pay per month including taxes?
I remember seeing a RENT CHARGE of about $5000 in my original lease contract? Did I get royally screwed? Keep in mind that this was my first time and I was overanxious. At the time, I calculated the Money Factor to .00175 and the Cap Cost was $48900 or so.
Thanks for all of your help.
Moreover, at the end of three years you'd have a paid for 7 Series with a still-current body style and some equity. Not either a "disposal fee" or a forced re-up.
I've bought high end luxury cars for 50% off in the past and learned that between further depreciation and repair costs, I am better off leasing a new one every three years. There's always some sort of subsidy to move these cars these days.
Moreover, Mercedes and maybe Bimmer have CPO programs that allow you to buy additonal coverage to extend the term of the warranty from the factory. Example, a 2007 S Class if CPO'ed has the balance of the new car warranty PLUS an additional year because of the CPO. But why stop there? You can buy directly from MB two more years beyond that. The only limit is that you can't go over 100,000 miles. So, if you spent time researching a good buy on a 2007 (the first year of the current body style) S Class CPO, you could wind up with lots of factory warranty protection while you drove the current body style for 4 years.
Prefer the Ultimate Driving Machine? OK, play your cards right and join BMWCCA for not much money. In addition to getting Roundel which is a good mag, after you have belonged for a year, negotiate your best deal on a CPO 7 Series. After you do that, the factory will then kick in some money or cancel a payment.
All in all it seems to me that a lot of people lease for all the wrong reasons. But if you are the kind of guy that this board seems to attract, a guy who is concerned with researching the absolute best deal why not put the same effort into a purchase? The used market is very "inefficient" and rewards research. Maybe you'd find a black S Class 4Matic in Miami or Las Vegas that the dealer just can't get rid of because no one wants black or AWD in Miami or Vegas (assuming that they have any money left after their housing debacles). You know though it would sure look nice in Boston. Maybe, you'd turn up a low mileage 2006 Bentley Flying Spur with AWD for less than 70K which is a lot less than the 185K someone paid three years ago. If you really want a 5 Series, there are loads of 2007's on Cars.com for well under 40K.
As Equipped $46,625
Selling Price $43,820
36 Month
10K per year
1.45 MF (current customer)
61% Residual
Payment $531.94 ($581.17 including 9.25% California tax)
License and Registration $588.75
Bank Fee $725
Doc Fee $45
First Payment $581
No Rebates
No Cap Reduction
But Cap Reduction Tax is 9.25% = $71.22 (What is being taxed?)
Due at signing $2011.15
One dealership already told me that he can't beat it.
Another said he could beat it by $10 a month but I don't know what terms or Cap Red. Cost he factored in.
I know this sounds like a good deal but you guys have more experience in this field so I would like your advice on this one.
Thanks.
Also, do the deals get better as time passes on the 2010? I will be ready for one in July and one more in August. The wife wants one too.
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Is that a good monthly pmt for this car? (there will be zero money down for me), and should I ask the leasor for the $500 fee to be paid by him?
All feedback is greatly appreciated.
I estimated a used 2007 5 series with similar features CPO would go for $37k plus another $3,515 in sales tax. For comparisons sake, I estimated a loan doing the same drive offs as my lease which were security deposit only or $700. I used 3.9% for 60 months which was the BMW offer at the time. That means a loan of $39,800 or $731 a month. After financing for 3 years, I would have spent $3535 in interest and that $37k car would now be worth about $19k. So between depreciation of $18k plus interest I would be out $21,500 which is only a savings of $2k over the lease, which may honestly be lost if I cant sell the car for $19k.
Plus, the CPO only lasts for 2 years after the initial warranty expires, so in 3 years that 2007 5 series is now 5 years old and has no warranty, not what I am looking for. I like a new car every 3 years, I drive less than 15k miles per year, and I hate selling a car when I am done with it. The lease seemed like the best option for me.
I am curious, after seeing these figures, if you still disagree?
It is analgous to two investors. One guy researches the big cap stocks which are covered by everybody. He thinks naiveley that with enough work he can get an edge on Google's earnings prospects. The other guy picks an obscure corner of the market with very little coverage, say bonds issued by African countries. With enough research he could come up with an edge that would make him some money.
Car_man
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Car_man
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