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BMW 5-Series Lease Questions
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Car_man
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can you tell me the mf and residual for this lease
also are security deposits refundable
thanks
cold weather
premium package
sports package
automatic
comfort
nav
Satellite
Black Sapphire
36 months/15k
$54420 which is 1000 over invoice
MF- .0025
No down
800 deposit + tax and tags
Lease price 770.33+23.11tax= 793.44 monthly lease
Should I do my lease today and order?
The details are msrp - 55,870 - selling or lease price 53,600
Moneyfactor .0024 (monthly payments $738+tax $61)
drive off 2160 = 800 first month pmt license of 418 and various fees 942 (aka skim)
3 years 12K miles
vs
Buy:
Same price as above
down pay of 30,000 and 4 year finance at 5.49 % of 28,000 resulting in monthly pmts of 651 (interest paid 3,251)
Plan on keeping car 5 years
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At the end of three years the car is still worth 55-60% of its MSRP so the depreciation in the next few years is not insignificant. The savings in the depreciation costs can often be overwhelmed by the extra repair/maintenance expense.
I reviewed the prior posts, and I found some inconsistencies that I wanted to clear up.
First, was the money factor .00225 at this time (April 8, 2006)?
Second, was the residual "60%" on a 12k lease.
Finally, I saw some discussion about the $825 vs. $625 lease acquisition fee. I was charged $825, but I want to fight the issue when I go in next week to pick up the car if the extra $200 charge is an add-on. Does anyone know what I can use as "authority" to show that the fee is really $625. Wouldn't the discretion to vary the fee violate some kind of fair lending act law (like on mortgages)?
Thanks to everyone here for the information on the security deposits... this information is incredibly valuable to the public (my dealer still does not understand the concept).
-Richard
"Hello junap1. According to the latest information that I have seen, if you were to lease a 2007 BMW 530xi through BMW Financial Services right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00225 and 60%, respectively."
I also saw other posts from others that stated that the residual for 15k miles was 60%.
For April 2006, was the residual on "12k miles" for the 530i 60% or, say, 62%? I guess I do not need to worry about this one because the dealer needs to follow the "books," but it would be good to know.
Thanks "NCBimmer" for the message. I just want a document (or something similar) to show to the dealer to verify the $625 acq. fee so they do not give me the runaround and claim that the fee is different for different situations. Don't forget that any dealership is full of salesman that make a living trying to squeeze every penny out of customers. Thanks all.
The last numbers that I've seen... The '07 530i had the exact same lease numbers for April and May..
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I just came back from the BMW in Buena Park, CA.
I wanted to lease a 2006 530i but it seems most dealerships are out of stock. I looked at the 2007 530i's. I want one with the sport and premium package with 15k mi/yr and 36month term.
The best they offered for a 2007 530i w prem and sport msrp stickered at 54,356 was :
1. $2000 Drive off, 15k mi, at 865/mo after tax.
2. $2800 Drive off, 12k mi, at 799/mo after tax.
I live in los angeles so tax is %8.25. I wanted to get it at around 760 after tax but they would not budge at all unless i gave them a fat down payment. Eventually they let me walk. i am going to look around but was the deal above worth it? Where can I find a better deal at in southern cal.
I mentioned the money factor but the numbers he gave me were after he had talked behind the counter and said he didnt know what number they were using. He said they were getting them direct from bmw financial. Also the residual was 60% which seems normal from what i've read.
Any help would be deeply appreciated.
Thanks
frank
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On our current BMW 530 lease, we did about $5K in additional security deposits and lowered our payments significantly. We'll get that $5K back next month when the lease expires.
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My message was on page 32. Any suggestions? how much over invoice on a 2007 bmw can we expect to move down to?
Thanks
Frank
I just got a decent deal I think.
Here what it is:
2007 Bmw 530i
Sports Package
Premium Package
Automatic Trans
MSRP 54,070
I got them down to 51,300
2800 Total Drive off
36 Months
15,000 Mi/yr
710/mo + tax (ca 8.25) = 769.00/month tax included
What you guys think. This is after 3 dealerships and reading up on the boards. Seems decent.
Frank
2007 530i
Premium Package
MSRP 51,270
Down to 49,6604
2300 drive off
36 mo. 15,000 Miles
699 mo. + tax
Premium Package
Navigation System
6-Speed STEPTRONIC Automatic Transmission
Multi Contour Seats
Power Rear Sunshade and Manual Rear Side Window Shades
Heated Front Seats
Fold Down Rear Seats w/Ski Bag
Rear Door Mounted Side Airbags
Other than I know that I need 15,000 miles per year, I'm not sure what you suggest a good deal on this car is. The dealer, of course, is starting with the MSRP of $58,405.
Your help is greatly appreciated.
New 2007 530i--I understand that a customer can make a maximum of 7 payments to reduce the factor by .00007 each.
What about the first security deposit payment that is needed for a new BMW customer to reduce the rate from .00240 to .00225?
Does that mean that the customer can use only 6 more payments to reduce the money factor by .00042?
My dealer is stating that I can only use 4 more payments at .00005 reduction each or .00020 (total).
This does not make sense... One payment reduces the money factor by .00015, and then the next four only reduce the money factor by .00020 more?
I called BMW Financing, but they will not talk directly to a customer. My dealer is doing this during the weekend, but does someone have the right information for the security deposit program?
What should be the "final" money factor if I am a brand new BMW customer and I want to "max out" the payments?
Best regards,
The first security deposit keeps you from paying the additional .00015 waiver bump...
Then, you can make 7 additional deposits that each reduce the MF by .00007, for a total reduction of .00049..
The .00005 reduction, with 5 additional deposits... that was the old plan..
regards,
kyfdx
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One more question. I understand that the security deposits are rounded to the nearest highest $50. Thus, I wanted to put money down to get my payment to $698 from $740. Thus, the security deposit would be $700 rather than $750 ($400 less for 8 payments).
The dealer is telling me that the security deposit is calculated using the numbers with the original money factor rather than the discounted money factor. Kind of a "chicken and the egg" issue. The security deposits get the rate down, but a security deposit is supposed to reflect an amount equal to the final payment (with the discounted money factor). The only issue is how much I have to put down to buy the money factor down to the lowest $50 increment. Not a biggie, but I hate it when the dealer does not understand the issue and has no means to figure it out.
Any thoughts?
Best regards,
They should use the new lower money factor, assuming 8 deposits (the normal deposit, plus 7 additional deposits). Then, adjust the cap cost reduction to put you just under the next lower $50 increment (don't forget about tax!), then compute the money due at signing (Cap reduction, 1st pymt, title/license fees, 8 security deposits, etc.).
It is important to get them to do it right... With BMWFS allowing dealers to mark up the MF by .0004, they will accept any number that doesn't exceed that.. Normally, the leasing company will reject anything that isn't correct (like an incorrect residual percentage), but in this case, it could just end up as extra profit for your dealer.
It seems like you have a good handle on it.. now, you just have to educate your dealer..
regards,
kyfdx
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Best regards,
Richard
With 2800 drive off with premium, sport, and automatic on a 07 530i.
Frank
i am trying to lease a 525i in S. cal. dealer quoted me with 1200 drive off fees, 745$/mo 36 mo, for 12K. Man...I loved the car but it seems to much for a basic 525i without premium, just automatic T 45,457 MSRP. what do you guys think??
Chris
Does the 745/mo include tax? That makes a difference as the amount I showed you (769/mo) included our high CA tax.
Frank
1/ Seems a bit high from 5.4% for deposit of $650?
2/ Can the Bank fee be included in the MF?
3/ Any thoughts regarding June and July MFs from BMWFS?
2007 525i
Steptronic
Premium Package
Premium Sound Package
Bi-Xenon Lights
Navigation System
MSRP: $51,870
Invoice: $48,335
36 Months lease
12K miles / year
$3,000 drive off
$621 including tax is the best offer I've received so far. Should I take it?
If I calculate it with:
62% Residual
0.00225 Money Factor
8.5% Tax
I was hoping to get the negotiate price to $47,642 ($693 below invoice) and monthly payment to $580. Is this too much to ask?
Currently, I'm also leasing a 2006 Mercedes E350 (MSRP: $59,500). My monthly payment is $700 including tax. I got the car at the end of April in 2005, paid $3200 drive off. Since the 525i is almost $8000 cheaper than the Mercedes, I don't think I should pay over $600 per month. But this is my first bimmer, so I don't know...Thanks in advance for any help/inputs!
Thanks for your help,
ktx968
:confuse:
It's hard to compare your Benz lease with the Bimmer, since we don't know the term, money factor, residual, etc, on the Benz. It sounds to me that you're being offered a very fair deal on the Bimmer.
well, your deal is better than the one i got. 525i 4200 D/O basic 525i no upgrades, 36 mo 12 k 650/mo. i didnt do it.
the deal sounds good. but maybe you can press them for the same deal on the 530i??
my thing is never put any money down for a lease. keep in the bank, make a little higher payment. why give it to them just doesnt make sense.
Chris
Many thanks for the advise. How much do you think I should put down?
2007 530i (Silver Gray, Beige Leather)
Steptronic
Premium Package
Sports Package
Park Distance Control
Navigation
MSRP: $56,570
Invoice: $52,250
In Short, I paid $3,188 Drive-off and monthly payment is $758.88 (including tax)
Here are the details:
Final Negotiated Price: $53,780 (which is $1,531 above invoice, this also includes the $825 acquistion fee)
36 Month Lease / 12k Miles per year
Cap Cost Reduction: $1,830
Tax on Cap Cost Reduction: $156
1st Month Pmt: $759
License Fee: $407
Others: $37
Drive-off: $3,188
Cap-Cost: $51,951
Lease Term: 36
Residual: 61.0%
Money Factor: 0.002476136 (based on my calculation)
Tax Rate: 8.5%
Monthly Payment: $758.88
Best luck shopping everyone!
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