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2013 and earlier BMW 7-Series Lease Questions
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Car_man
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Can you provide me with some information. I am a current 745i owner. My lease with BMW financial services is expiring next month. Can you tell me what the current Dealer Incentives and the Money Factor is for a 2008 750i with 12K miles per year. Also, when do the those figures expire. I read (not that I believe everything I read on the internet, but it can't hurt to verify) somewhere that BMW financial services was offering a special incentive to returning 7 series owners. Is there any truth to this. Thanks for all your help Car_man!
24 month / 12k-mi residual is 67% and carries a buy rate mf of .00200.
36 month / 12k-mi residual is 57% and carries a buy rate mf of .00200.
Rates good through Feb 29.
Thanks for the info ocautoseeker!
I hate to sound stupid but I must admit that I am. I cant figure out what a good lease is . I see " Residual" and "Buy Rate" , but I dont understand. I have a 745i sport that is coming off the lease in April. My dealer says that the new deal ends tomorrow. He says it's a special deal for 7 series owners. The car I picked cost $88945.00 on a 2 year lease ( I want 3 years but the deal is only 2years). He quoted me $830 a month with 7k down with 12k miles. He said he could get me 15k for the same price. I want the BEST deal !!! What should this car cost me?
Also, I love my sport package but hate the seats. I am thinking of getting the air ride system that he says can adjust to the sport suspension? Do you have any recomendations?
Thanks Rich
Buy rate is the base cost of the money from a lending institution. So, assume the buy rate money factor is .00200 (current buy rate mf for 24 & 36 mo terms) , which equates to 4.8% apr. If this were the buy rate (the lowest rate available), this is the rate you'd want the dealer to use to calculate your payments.
Now, dealer's CAN mark this rate rate up to what they call a sell rate to make additional profit, but if you have decent credit and you're aware of the buy rate for the particualr model you're looking at, that's the rate you should get.
Tomorrow is the end of the month, so the dealer could very well be pushing you to do something to hit his quota, but deals aren't going away on the 7series as it's up for a redesign and you're most-likely going to see incentives continue.
I definitely DO NOT recommend you putting $7k into a lease.
But, there is a great deal on 7-series leases this month, for current 7-series lessees... So, you don't want to pass that up.... but, that doesn't mean that this particular salesperson isn't trying to take you to the cleaners...
The best deal is on the 24 month lease, because there is a huge upfront dealer cash incentive on the lease..
If the dealer can make the same deal on 15K/yr lease, then that just means he has room to come down on his price.. Ask him to requote the deal with just the minimum due at signing (under $1500)..
regards,
kyfdx
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I bought it at Prestige Bmw in NJ.
That $5000 dealer cash incentive really helps...
You should be able to get under $898 on 750 with zero down for 81k-MSRP.
This assumes a .002 Money Factor. Remember that you can lower it further with adding Multiple Security Deposits to your lease....
I would Say on 81k MSRP you should try to negotiate a Cap Cost of around 70k-71k.
I am evaluating the following terms posted on the BMW website.
Cap Cost $85,270.00
Payment $3,500.00
Secury Deposit (1000.00)
Net Cap Cost $81,770.00
Residual 58% $49,456.60
Money Factor ?
Term 36
Payment $999.00
Each extra security deposit reduces the Money Factor by .00007. And you can do around 7 of these. So you can reduce the money factor from .002 to about .0015
Also ask about single payment lease that reduces the money factor significantly
Also don't forget that the Acquisition fee BMW charges is $625, but the dealership will try to charge you $825, so that is negotiable.
MACO is a vaild charge and should be $250, Training can be around $180. So I would call these fees reasonable. As the dealership does pay them (not on European delivery)
Cap cost: 79,642 (based on edmunds tmv)
Money factor: .002
Term: 24 month
Residal : 67% of MSRP
Payment at lease signing : 3022.00 (includes 1st mo, acquisition fee, security and licene/reg fees)
787.22/month
I am trading a 2007 CLS550 and using equity from trade.
Just looking for some feedback on a quote I received today....
MSRP- $87,920
Cap Cost- $79500
ZERO Down
Residual- 57% ( 50,114)
Money Factor- 0.00225( started at 0.00255) with a one month security deposit( equivalent to 0.00240 when add the security dep??- that is what salesman said)
12,000 miles annually
36 month lease
Acquisition Fee of $825- which seems like it is standard
I am trying to figure out where I should push? I am pushing for 0.00200 ( 4.8% equiv) as I have seen others mention thru this forum.
Possibly looking at getting the Residual Bumped up to 58%...or lowering the cap cost down another $1,000....
I have offered to the dealer that i could consider just paying cash or finance thru a purchase- but he didn't seem to be interested....
I would love to hear some feedback on where you believe I could move as this would be my first lease....
Thank you very much for your help,
Thanks!
I assume you are doing a 12k lease?
How much are they giving you for the trade in? Unless you know exactly you cant tell if you are getting a good deal.
I suspect not.
you should be able to knock off another 2k or so for the cap cost. Money Factor of .002 is standard. These cars are not selling like hot cakes, so dealer will agree to .002, or threaten to fax offer to all dealers in state.
Residual is basically not negotiable, if you want .58 go for 10k mile lease.
As you know you can also lower money factor below .002 by paying extra refundable security deposits.
Good luck.
24 Months residual is 65% for 15k lease .00200 money factor.
36 Months residual is 55% for 15k lease .00200 money factor.
There is a $5000 Manufacturer to Dealer incentive through 4/30
Car_man
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Car_man
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As I mentioned in my previous post, BMW is currently providing $5,000 dealer cash on the 2008 7-Series. Plus there is a gap of over $6,000 between this car's full MSRP and its dealer invoice price. That gives you a total of more than $11,000 to play with during your negotiations. I am not intimately familiar with what the market is like for the 750Li right now, but there is a reason why BMW feels the need to put $5,000 dealer cash on it. This implies to me that this car isn't exactly flying out the door. If I was in the market for this car, I personally would not be surprised if you were able to negotiate the additional $1,000 discount that you mentioned on this car.
Car_man
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Car_man
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I worked all 4 of them to get, what i hope, was the best deal
Here is what I got....
MSRP- 89,620- sport 750LI
Invoice- 82,4210
Cap Cost- 79,620
Money Factor- 0.00200
Residual Value- 57% ( 12,000 miles/ yr) on 36 months
They delivered the car to my house the next morning- in and out in 30 minutes without stepping foot in the dealership. Great experience in my opinion....
The questions and answers definitely helped a lot in educating me on leases- and what to shoot for on this lease.
Thanks again...
MSRP $89,270.00
CAP Cost $82,000.00 (i should get them to drop this to $81K)
MF: .002______ (that's what they showed me; i need to confirm what the true MF is)
ACQ Fee: $825
Drive off and money down: $4k
Monthly payment is based 36 mos and 10k miles a yr: $1,153.73
the residual is $51,776.60
If the invoice on a 750il is $72,590k, i would think we could get the cap cost down more.
Thoughts and feedback
I've been told i can get the cap cost lower than the original dealer offer.
.
4000 under Invoice
Money factor .00225 Said the increase from .002 was to waive a security deposit. Told me this was necessary...even though I have leased or financed 3 cars through BMW financial Got done with the last one only a month ago. How much BS was I given???
36 month residuals:
.55 for 15k
.57 for 12k
I asked for breakdown of all fees but was not given the Acquisition Fee. I know it should be about $625.
Please let me know about the Money Factor.
Thanks you!!!
Am looking at doing a 24 month lease on an 08 750Li -- would appreciate your review to see if I'm getting a good deal - or where there's room to negotiate further with the dealer here in Florida...
2008 750Li
Black/Black Leather/Dark Wood
Convenience Package, Luxury Seating Package, Premium Sound Package, Sport Package, Comfort Access, HD Radio, Sirius Radio
$89,620 MSRP
$79,200 Selling Price
Lease 24mo. x $1416 :surprise:
12,000 miles per year
1st payment only due at signing
67% residual (68% for 10,000 miles per year)
.00215 buy-rate with no security deposit
.00255 money factor on lease
Is this a good deal? Also working on the acquisition fee - getting it down to $625.
Thanks -- Mike
Not a good deal at all. Cap cost is good but Money factor is not.
Even with the higher .00255 Money factor your payment before taxes should only be $1,153.
with the correct money factor of .00200 it should be $1076. A bit higher then that if you do not pay security deposit.
So the dealer is taking you for a expensive ride...
Not sure what you mean by "buy rate"...
Anyhow good luck...
We got the MF down to .00215, acq fee to $625, and selling price to $77,290 - our monthly payments (before taxes) are $1039, Heck of a good deal.
Working on figuring out a way to potentially initially register the vehicle in Florida while doing the finance deal (i.e. finally get around to getting a Florida license - they allow "part time" licenses and allow you to keep your state license. Register the car in Florida (Miami - Dade county is the deal place) - have the tags sent to us in Texas; and re-register the car in Texas later this year. As we have a condo in Miami - I already consider myself a "part-time" resident - we spend 3-4 months a year there; just never thought about getting a FL Drivers License.
Anyone ever done this before?
Will be a big savings on the monthly payment -- our monthly taxes will be arounmd $65 a month (total payment 1103) vs $262 for Texas Taxes (the 6300 / 24 months), or a payment of 1301. Nearly $200 month savings over 24 months, $4800 (or in my mind, close enough to call it $5K).
Appreciate feedback/thoughts
My guess is that it won't be any different from a Florida resident moving to Texas with a leased car.. If they are only paying tax on the payment in Florida, they'll have to pay Texas taxes on the value of the car, once they move. It's not the same as owning a car that you've already paid the full tax on..
So... if you can lease the car as a Florida resident, more power to you... but, I think you'll have to keep the Florida registration for the entire term of the lease to realize any savings.
regards,
kyfdx
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Thanks.
Cap cost of 80k is pretty good on your build, and that does mean you are getting the 5k. rebate included. I hope that is with zero down!
Based on April rates (again extended through 5/5) your
monthly payment should be (before taxes) $1121.91
If you add 7 refundable security deposits your payment will be $1053.41
Also just for example if you do 12k instead of 15k lease you will lower your payment to $1048.94 ($979.45 with 7 MSD)
Good luck...
1. Has the 5K incentive been extended through May?
2. If not, was is the current promotion?
3. What are the May residual & money factors for the 750i on a 24 month / 15K lease?
Thanks so much for all your help! Every two years I look forward to your expertise.
Please post your deal if you make one. I am also looking to lease one before the June 1 price increase.
Good luck.
3 Year 15k lease on 750i
-Lowered Residual from 55% to 54%
-If you are current BMW FS customer you are eligible for .0010 money factor. In the past you needed to be previous 7 series inorder to get .0010 for a new 7 series. Now you qualify for 7 series at .0010 even if you were a 5 series owner.
Just got mine
Would you consider posting your details - MSRP, options and your cap cost? Also what dealership you delt with, it would be a great help to me!