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BMW 5-Series Lease Questions

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Comments

  • bimmer_guybimmer_guy Member Posts: 5
    edited December 2012
    Thanks again. I am not sure if I am saying it right but my trade-in is around $9500 termed as total cap reduction on the paper I got from dealer. Is this the same as cash down?

    If I don;t trade- in should i sell it outside. What would be my best option? i think trade-in would lower my tax?

    I am in Texas. Dealer won't come down on MF..anything else could i ask them?

    I did not get my credit check to them yet. Should I ask them as I think I would have a good credit to qualify for better MF, is this possible?
  • nd_irishnd_irish Member Posts: 33
    If they put the $9,500 for your trade as cap reduction, that would be equivalent to putting cash down.

    I think hit has given you solid guidance regarding the lease. I have recently leased two vehicles, one of which was a BMW, and I traded in a vehicle each time. I checked Edmunds, KBB, and eBay Motors to get an idea of what I thought a fair price would be and insisted that I get the price I wanted. In each case, I had the dealership cut me a check for the trade essentially treating the lease as if there were no trade involved.

    With regard to the money factor, I would check with other dealerships in Texas and contact them via their Internet sales department. I would guess there are quite a few BMW dealerships in Texas so you should be able to get several other dealerships to provide you written quotes for the vehicle you want. If you really want to work with the current dealership, insist that they match the best deal you have with regard to the sale price of the vehicle, the money factor, and fees. Since the end of the year is near, I would press them to sell the car at invoice and then subtract the applicable holiday cash, loyalty discount (if you are a current BMW customer), and the Ultimate Drive app discount (if you have an iPhone or Android phone, you can get an additional credit of $500 on a 5 series by downloading this app and scheduling a test drive at the dealership with which you decide to work).
  • hithit Member Posts: 36
    edited December 2012
    Depending on what exact colors/features you have, your car based on your description should have an invoice around 50800, so they are overcharging you there as well...

    I would contact another dealer, or call out your dealer on it demanding to get the correct rate.

    Once they know that you understand what you're talking about, it becomes a whole other conversation and relationship with the dealers. Read up, understand how the pricing is calculated. Understand what the rates should be (i.e. car_man's latest numbers post), what the invoice price of the car is (you can ask the dealer and compare with Edmunds at http://www.edmunds.com/bmw/5-series/years.html?sub=sedan ). I've found that being armed with this information, I am able to call up a dealership and dictate conditions on my own terms, not theirs, saving myself lot of $$$.
  • bimmer_guybimmer_guy Member Posts: 5
    THanks for all the insight!! It helps a load..
  • bimmer_guybimmer_guy Member Posts: 5
    Another quick question. Residual is calculated on MSRP or the final discounted price?

    MSRP is 56K and Final price is 52K..
  • nd_irishnd_irish Member Posts: 33
    The residual is calculated using the MSRP.
  • z4maudiomanz4maudioman Member Posts: 130
    Hello All,

    I have been a lurker on these forums for a while and it has been a great resource for me in purchasing my last 2 BMWs. I just leased a 535i yesterday and took advantage of the 24 month "west coast" lease special. I want to share my deal with you all. I think I got a phenomenal deal on a brand new vehicle in stock. Thoughts?

    2013 BMW 535i Sedan
    Alpine White
    Black Dakota Leather
    Anthracite Wood Trim
    M Sport Package
    Dynamic Damper Control
    Premium Package
    Technology Package
    Sport Automatic Transmission
    Heated Front Seats
    Bang & Olufsen Sound System
    Park Distance Control
    Rear View Camera
    MSRP: $68,845
    Invoice: $63,865 (includes $400 MACO and $180 Training Fee)

    Negotiated Price: $62,865
    Cap Cost Reductions: $2000 Holiday Cash, $750 Loyalty, $500 Ultimate Drive App Download Rebate = $3250 Combined
    Price After Cap Reductions: $59,615
    Additional Fees Rolled Into Lease: $725 acquisition fee
    Total Cap Cost: $60,340

    Lease Terms: 24 months w/ 10K miles a year
    Total Cap Cost: $60,340
    Residual: 74% - $50,945.30
    Money Factor: 0.00125
    Sales Tax: 8.50%

    $530.56 = Base Payment
    $45.10 = Monthly Tax
    $575.66 = Total Monthly Payment

    Due at Signing:
    1st Months Payment: $575.66
    Registration Fees: $104
    License Fees: $413
    Sales/Use Tax: $3.80
    Electronic Vehicle Reg Charge: $29
    Tax On Cap Cost Reductions: $276.25
    Document Processing Charge: $45
    CA Tire Fee: $7.00
    ---------------------------------------------
    Total Due at Signing: $1453.71

    I feel like this was the absolute best I could do on this car. I'm actually surprised the dealer went for it. It was my first offer to them and they did the deal. It's basically $1000 under invoice minus rebates. Most people seem to be paying $500 over invoice minus rebates.

    Hopefully this information helps others. There are great deals out there to be had, so good luck everyone! :)
  • linhtlinht Member Posts: 1
    Hi, can you share the name of the dealership and person you got this deal from. I'm in Southern California also and about to turn in my lease for a new 535. Thanks
  • kyfdxkyfdx Moderator Posts: 234,725
    That's a good deal... :)

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  • marsenginemarsengine Member Posts: 3
    edited December 2012
    hi I'm new here
    I'm going to get 2013 BMW 535ix
    msrp 63445
    premium,tech,driver asst
    rebate 3250(2000+750+500)
    selling price 56195
    residual 58% 36798
    money factor was 0.00125
    msd 4450
    money factor after msd 0.00075
    tax 7%
    out of pocket 2110(reg ,1st pym,3yr reg.document, bank fee,tire tax)
    610.01/month with tax

    12,000*39 month
    is this a good deal or push little harder?
    I didnt't ask any this is a first shot.
  • z4maudiomanz4maudioman Member Posts: 130
    Sure linht...here is the info you requested....

    I purchased the vehicle from Sonnen BMW in San Rafael. My sales advisor was Jerry Blomgren. Nice guy. It was a pretty easy deal. No BS. You would need to buy a vehicle in their inventory though. I doubt you would get a deal like that if they need to trade for the car with another dealer. I'm also not sure how many similar deals they would be willing to do. Mine might have been an exception because it was a higher MSRP vehicle which might have been harder for them to move.

    Hope that helps.
  • tomaxtomax Member Posts: 37
    This seems like an excellent deal, but wanted to ask what is the MSD as that sounds like it helped bring down the monthly cost significantly. Also, what area are you buying the car? I was only eligible for the $2000 rebate and best I received so far was $695 paying invoice minus rebate.

    Thanks
  • rparik01rparik01 Member Posts: 3
    edited December 2012
    Hello,

    I am looking at a 2013 535 M sport. I have been offered the car at invoice, but recently found out it has about 3k miles on it. What kind of discount should I be looking for from here? Thanks.
  • marsenginemarsengine Member Posts: 3
    msd is Multiple Security Deposit
    Bmw takes msd for lower money factor

    here is NJ
    my rebates are
    holiday 2000
    loyalty 750
    BMW apps 500

    Plus 3 months payment wave for early return of current leased car
  • jaded535jaded535 Member Posts: 3
    This seems like a good deal. What dealership are you using?

    I was just quoted a 2013 535 X-Drive with the following:

    Metallic Paint
    Cold Weather Package
    Tech Package

    39 mos
    10,000 miles/ year
    Payment $609/ mo (including tax)
    $2,200 Out of Pocket
    MSRP $60,595

    Thought this was a great deal until I read your blog.
  • jaded535jaded535 Member Posts: 3
    What is BMW Apps rebate? Is your current car a BMW? (for early lease return)
  • marsenginemarsengine Member Posts: 3
    edited December 2012
    Yes I have 2010 BMW they offered me 3 month early return and after dl of BMW apps they offer $500 for 5 $300 for 3 and $700 for 7 I think BMW finance company company can get this rebate
  • jaded535jaded535 Member Posts: 3
    Thanks, what dealership are you using? Can you provide name of salesperson?
  • benchidaibenchidai Member Posts: 1
    This is really a sweet deal!!

    I have a questions.

    For the Royalty ($750) and the Ultimate Driving App ($500)... do I have to be a current "returning" BMW buyer?? :confuse: Is there any way that someone like me who wants to get into the BMW family can get such a sweet deal as well?

    $1250 additional off is quite a lot to give up :*( :cry:

    I've gotten a quote on a 535i with navi, rear view, sport seat, parking sensor (MSRP $59500)
    for $548+tax, $2200 total drive off (for 24 months, 12K, and maxed out on MSD)

    Is this a good deal? How low can I ask for? :confuse:
  • quintopquintop Member Posts: 6
    edited December 2012
    Guys, this board has been very helpful in my leasing process. Wanted to give back by providing the forum with another data point:

    535i, Alpine White, Black Dakota Leather
    $2,900.00 - M Sport Package
    $1,500.00 - Premium Package
    $2,800.00 - Technology Package
    $500.00 - Sport automatic transmission with shift paddles
    $1,300.00 - Multi-contour seats
    $500.00 - Heated front seats
    $895.00 - Destination Charge

    MSRP - $63,495
    Invoice - $58,975
    Negotiated price - $57,975
    Capitalized cost - $56,644
    Residual (73%) - $46,351

    Bank leasing fee - $725.00
    Holiday rebate - ($2,000.00)
    Loyalty rebate - ($750.00)
    Tax on cap reduction - $213.13
    License & registration - $499.75
    Documentation Fee - $80.00
    First month's payment - $600.80
    Cash due at close - ($700.00)

    Term - 24 months
    Miles - 12k per year
    Residual - 73%
    Money factor - 0.00125

    Depreciation per month - $428.85
    Rent per month - $128.74
    Base payment - $557.59
    Tax - $43.21
    Payment - $600.80

    I was pretty happy with where I ended up... a $600 payment with 12k miles per year and only $700 due at close!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi bchips. The numbers that you were quoted are indeed correct. The numbers for the '13 535i are .00125 / 58%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rparik01. That looks like the cash that was available for leftover 2012 models. BMW is providing cash this month on the 2013 535i, but it's only $2,000. There's an additional $750 available to loyal customers.

    If I was in the market for this car in an area that has a decent level of competition, I personally would shoot for a selling price of $500 to $1,000 over the invoice price that is listed here at Edmunds.com minus the available cash incentives.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rparik01. Unless you're talking about getting this car at dealer invoice minus the available cash incentives this wouldn't even be a great deal on a brand new one with no miles on it.

    The problem that I personally have with demo vehicles is that dealers never seem to be willing to discount what is essentially to me a low mileage used vehicle enough for my taste.

    I personally would want a selling price of well below invoice, at least $1,000 under, minus the $2,000 cash incentive ($2,750 for loyal customers) that BMW is providing on this car right now. I'm not sure that any dealer would be willing to do that, but that's what it would take to get me to bite on this car.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new BMW quintop. Thanks for taking the time to give back and share the details of your deal with everyone. Real-world examples like this are always helpful for others who are in the market for something similar.

    Happy Holidays and enjoy your new ride :shades: !

    Car_man
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  • bbaimbbaim Member Posts: 19
    Hello,

    Looking to see what the current money factors and residuals are for a 550i. Looking for help with a 36/48 mos lease with 15k miles/yr. Any help would be greatly appreciated!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go bbaim. BMW Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2013 BMW 550i Sedan with 15,000 miles per year are .00125 and 55% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 42-month lease are .00125 and 46%.

    I gave you the 42-month numbers instead of the 48-month numbers because the 42 month money factor is better.

    Car_man
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  • jammmieusjammmieus Member Posts: 3
    Hi,

    would you be able to mention the dealer name & salesperson as well if possible ?
    I'm also in NJ & looking to lease a 535Xi myself as well & If I get the same deal as yourself then i'll probably just go & lease it without too many questions.
    Would be really helpful if you can give me the details.

    Thanks in advance.
  • jammmieusjammmieus Member Posts: 3
    Hi Quintop,

    where did you get this deal from ? can you share some more details on dealership & if possible sales person's name ?

    I'm in the market to lease a similar 535 BMW but not getting a deal anywhere close to yours.

    any help will be greatly appreciated.

    Thanks
  • dam9017dam9017 Member Posts: 5
    Carman
    Do you have any info on current leasing rates on M5 looking at 36-39 months at 12K miles per year
  • espec30espec30 Member Posts: 4
    I'm in SoCal, and I'm not getting anything close to what "quintop" got his 535i for. Checked most of the dealerships in the area, and this is about what I've been quoted:

    535i white with blk, with Premium/Navigation/Driver assistance package - $55,680 (MSRP 59,295)
    36 months
    15,000 a year mileage
    Money factor - .00125
    $2,750 cap reduction (holiday + loyalty)

    Due at signing - $2,500

    $687.34 a month including tax

    Not getting anything close to others on this. Someone even quoted me around $800 for 2013 535i, prem, nav, white on blk, no down, lease 15k miles, 36 months.

    What should I be getting in LA on this?
  • topgun7topgun7 Member Posts: 412
    edited December 2012
    Not getting anything close to others on this. Someone even quoted me around $800 for 2013 535i, prem, nav, white on blk, no down, lease 15k miles, 36 months. What should I be getting in LA on this?

    I think you need to focus on the 24 month lease deal (74% residual for 10k mi per year, 73% for 12K and 71% for 15k). It is the Dec special for West coast and Florida (?? not sure about the rest of east coast). And each dealer has only limited number of this 24K mi lease that they can offer.

    The dealer only will do it for dealer inventory (or you pay higher so that they will go through the trouble to swap car with other dealer that may have the combo that you seek). And the dealer who still has allocation would want higher price. So the best bet is to look for dealer inventory and figure get a list of 528/535 that you may be interested in, get a dealer that is willing to get the car for you and still have these 24m lease allotment and go from there. It is almost a guarantee that you won't be able to get the best deal right now since the most aggressive dealer are done for the year and ran out of their allotment already.

    But the deal is still pretty sweet if you can get close to invoice. The 24month lease special add roughly 5% (Car_man can confirm that) to the residual as compare to the rest of the country that don't have this special. So we are getting roughly $3000 support + interest + tax discount on a $60k MSRP car (roughly $3600 all in) on our 24 payments (roughly $150 per month) on top of the 2000 holiday credit (roughly $90 a month). I am shopping in N. Cal also and I ran a sample lease calculating the difference between a 36 month lease and the 24 months special. The 2 year lease come out $611 a month vs the 36 months lease come out to $704 with exactly the same discount, number of MSDs, holiday credit and money factor.
  • topgun7topgun7 Member Posts: 412
    edited December 2012
    I have an excellent experience picking up a Deep Sea Blue, Venetian Beige Leather, from East Bay BMW in N. Cal today with a 2 years 24Kmi lease

    Premium, Tech, Cold Weather, Dynamic Handling, Rear view camera, park distance, Premium HiFi. MSRP: 65320 Invoice 60635 selling price at 60635, 7 MSDs

    Drive off 4550 (MSDs) + 1290 (first month + registration + some misc mandatory fee)= 5840 (they allow max of $5000 charge on credit card).
    Money factor: 0.00076 (after the MSD) ; Residual 73%
    Monthly payment: 619.57 including 8.25% sales tax.

    My CA (he is general sales manager), threw in a couple travel mugs and a set of all weather mats (The mugs and mats make my wife very happy.. The car make me very happy 8-)). The whole buying experience was very smooth, locating the right car is the hardest part.

    Hunting for the right 535 is pretty difficult in N. California now if one want light color interior (Oyster, Cinnamon Brown, or Venetian Beige) with reasonably equipment. Most of the remaining stock units have black interior. Some dealer that are willing to do aggressive deal but have no 24 months special lease left. Other dealers who have those 24 months special lease available are not wiling to discount. It took my CA a couple days (we started the process on the 27th) to locate the deep sea Blue 535 for us. Initially we found a car in Concord BMW that fit my need but we were on hold for a day because they had a deal pending on that car. Yesterday, it took my CA two hours to got agreement for the Deep sea Blue 535 from Weatherford BMW and a couple more hours to do the physical swapping.

    Given how late it is in the game (only 3 more days to go?). Looks like the best strategy is to find a dealer who still has those 24 months special lease available, negotiate the price (invoice + xx), And then try to locate the right car in other dealers inventory and do the swapping. Going from dealer to dealer to try to find the right car and the right deal is going to be very difficult.
  • rparik01rparik01 Member Posts: 3
    edited January 2013
    Thanks Car_Man,
    I actually worked out a FANTASTIC deal by BLOOMFIELD BMW and would recommend everybody to go there. Stay away from Morristown BMW (where I wouldn't send my worst enemy.) Although, the competition in the area definitely helped and I was able to get a 2013 535xi with a $69,870 MSRP for $63,650 (about $600 below Edmunds invoice and $1000 under dealer indicated invoice.) Plus an additional $4,250 in rebates. Essentially, I paid $59,400 for this car. And the real kicker.....I ordered it to my specs. My advice, if I may, is read this website, understand the numbers, create an excel file with formulas, and do your negotiations over the phone. My big mistake was taking Morristown's word for their promotion then driving there and having them tell me they weren't going to give me what they promised so I wasted half of my Saturday. Can't say enough good things about Bloomfield BMW.
  • ankitpooankitpoo Member Posts: 58
    hi car_man,

    can you please provide me with January BMW 550ix 10K mile/year 36 months lease rate. what is the MF and residule value. rite now i am getting a quote for 550ix MSRP $66,545, MF .00130, resv 63%. are the MF and resv correct as per top tier credit. Negotiated price is $60,500.00. your help would be greatly appreciated. Thanx!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dam9017. BMW Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2013 M5 with 12,000 miles per year are .00130 and 51% for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome rparik01. Thanks for sharing your thoughts on the dealerships and the details of your deal with everyone.

    Enjoy your new ride :shades: !

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, ankitpoo. BMW Financial Services' January buy rate lease money factor and residual value for a 36-month lease of a 2013 550xi Sedan with 10,000 miles per year are .00130 and 63% for consumers who qualify for its top credit tiers.

    Car_man
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  • bocabmwbocabmw Member Posts: 5
    Carman, Any deals on early out of a current 2011 535 lease to "pull ahead" would love to get another one soon as i am at 31K/36K miles lease with 6 payments left of $825
    thanks
  • mkbondmkbond Member Posts: 6
    Carman, do you know the 36mo MF / 10,000 per year for the 2013 535i? Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi bocabmw. Unfortunately, BMW's current early lease termination program is for current lesses of 2012 models. I don't think that you'll be able to get out of an '11 model cheaply at this point.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I certainly do mkbond. BMW Financial Services' January buy rate lease money factor and residual value for a 36-month lease of a 2013 535i Sedan with 10,000 miles per year are .00130 and 63% for consumers who qualify for its top credit tier.

    Car_man
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  • bocabmwbocabmw Member Posts: 5
    Thanks. I have leased for years and have never been able to get out with any reasonable offers. I love the five anyway and couldn't imagine driving anything else.
  • goldieaudigoldieaudi Member Posts: 4
    Do you know if buying down the money factor is avaiulable in NY or NJ?
  • zoombie99zoombie99 Member Posts: 320
    You can't post MSDs in New York since there is a law that prohibits it. You will have to lease in NJ to buy down the rate through MSDs.
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
  • wdl963wdl963 Member Posts: 2
    Hi car_man,

    Can you tell me what the MF and Residual are for a 2013 528i with 15k for 36 months?

    Thanks for your help!
  • insidecarbuyinsidecarbuy Member Posts: 95
    Hey wdl963

    BMW's current money factor for 2013 528i is .00130 and residual is 60% for 36 months and 15,000 miles per year.
  • ankitpooankitpoo Member Posts: 58
    edited January 2013
    Hi!
    Car_man,

    thanx for all the help. I just closed on the deal for 2013 BMW 550XI. MSRP $72,245. Purchase price $65,336, Resv 63% (10K miles), MF .00081 (7 MSD). Monthly payments with NJ taxes comes to $689. I could have pushed them little more and gotten a better price, but i am happy that they complied with all my request and didn't nickle and dime me. It was straight up deal, no loyalty or competitor bonus. I asked them for 10% off MSRP and they came very close to it. I built the same car on Edmunds and TMV per my zip is $69,469 and Invoice it is $67,245. I purchased my car from BMW of Freehold. I would truly recommend them to everybody, very very nice people. Somebody on here just purchased there 5series end of December from Bloomfield, and Freehold is there sister delarship. Thanx!
  • rr4mywiferr4mywife Member Posts: 60
    $689 is a good deal. Did you put any money down?
  • ankitpooankitpoo Member Posts: 58
    hi!
    rr4mywife,

    if you mean cap cost reduction , than no. i put 7 MSD of $4900 which i get back at the end of term. plus at time of closing i had to pay drive of $2284.85 which is luxury tax $261.35, DMV $ 304.50, tire tax $6, Bank Fee $725, DOC fee $299, 1st month $689. sad part is that you can't get away from these fees. as Car_man and others have been saying. Don't look at the monthly payments. As long as you negotiate on the purchase price and get your MF and Resv correct, everything else will fall in place. just make sure delarship doesn't add any hidden fees in closing cost. In my opinion Purchase price, MF and Resv are the most important factor. Thanx!
  • mbdcarsmbdcars Member Posts: 2
    carman/other users - do you think this is a good deal. MSRP 62,395. 36 mos lease, 10k miles, $575/month, $2000 down plus tax, title, tags, processing and acquisition fee. I am thinking of leasing but want to make sure this is a good deal. Thanks.
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