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2013 and earlier BMW 7-Series Lease Questions
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BMW Financial Services' May buy rate lease money factor and residual value for a 24-month lease of a 2012 750Li with 15,000 miles per year are .00190 and 63%, respectively for consumers who qualify for its top credit tiers.
The residual value for a lease with only 12,000 miles per year would be 2% higher.
I believe that BMW FS' excess mileage charge is $0.25 per mile.
Car_man
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Can you give me the best lease rates for June?
Thanks
Nick
Car_man
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Car_man
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There is $4,500 dealer cash and $750 loyalty cash on leases of this car right now.
Car_man
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Also, can you list all incentives available?
Thanks
Nick
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Now the issue: 3.48% interest or .00145 MF . The plan - CARMAN - I need to order this car b.c it doesn't exist exactly how I want it. Salesman said I can order now and lock in the residual (56%, which should only go down in time) and the current incentives. And, if in the next 8 weeks it takes to produce the car a better MF or credits come out, I can keep all the good and also have the new better credits/MF/benefit(s). Is this right? Also, when does the Winter event begin and do you think the MF will lower by Dec on this car? I'm thinking of ordering before end of this month before expiration of current credits and have production run into 1st week of Dec since the new rates usually come out in first week of the month. Pls share your thoughts with this plan, especially on whether I can expect more savings by Dec. Thanks.
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You can't pick and choose pieces of the program.... You have to take the good with the bad.. If they improve the MF and residual, but take away cash incentives, then you can't take the better stuff and keep the parts of the program that have been discontinued..
On the plus side, it can't get worse than the deal you've negotiated, so at least you have an upper cap...
regards,
kyfdx
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It's difficult to predict what automakers' future incentives programs will be like, but if I had to make an educated guess I would say that BMW's programs for December are likely to be fairly aggressive because they will likely be in a battle with Mercedes-Benz to see who sells the most vehicles for the year in the U.S.
Car_man
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You are right, the current terms can't get worse. I'll order the car by the end of the month, ensure I get the lowest number over invoice (which now is about $750, which I know for sure I can do better) and play the time game to see what benefits me most by the delivery date (after first week of Dec.). No matter what, the cap cost and residual won't change, which is most important. In looking at last year's deals on 7's, it appears the option $ is anywhere b/t a better MF (.00091) or $2.5k-$5k, which won't change much if the M kit option is taken away. I appreciate the info.
http://www.edmunds.com/car-buying/dealer-holdback/
According to the article BMW technically does not have dealer holdback. Having said that, I'm sure that there is some back-end money that they get kicked back from their manufacturer...they just call it something else. Regardless of how much money the dealership is getting kicked back to it, you as a consumer are ultimately going to have to pay what the market dictates for the car that you want. I suspect that if you are in an area that has a decent level of competition that's probably $500 to $1,000 over invoice minus any available cash incentives at best on a new 7, but I am not intimately familiar with the market for it.
2013 7's have either $1,500 to $2,500 dealer cash or a free M Sport Package on them right now.
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I'm looking for that $700 credit voucher for bmw iPhone/iPad that you mentioned but can't find it. Please let me know how you found it.
Just an fyi, what I did is I am having the car built and locking in this month's deal and waiting for 1st week of Dec to take delivery to get the better of either deal. Let's see.
GL!
I just preordered a 750i with the Executive package and the B&O sound system. We negotiated a fair price for it but I got nothing in writing before the order went in. When I asked about things like the MF on the lease, they said it could "get better" by the time the vehicle comes in December. I am concerned because there is nothing given to me other than an email agreeing to the monthly payment for the lease (3yr, 10,000mi/yr).
Can I have the rates for the leases for Oct please so I have some idea of what they probably gave me and I can compare to what there will be out there in December? Can I ask for any paperwork in writing now? One of the parts of the deal was that I would trade in my current lease (not a BMW) as the "downpayment" for the new lease.
BTW, I did shop around with 2 other dealers.
Thanks, Kit
If I were you, I would simply wait until 1st week of Dec, after the car comes in and walk in and renogotiate EVERYTHING (tell him to forget the past numbers or else you walk out). Rebuild your car on Edmunds and from the "invoice" number substract all incentives you can find (on Edmunds and elsewhere) and multiply by .04. An offer of 4% profit is more than reasonable (that is of the truest/most accurate dealer invoice, and I say this b/c we will never know the true amt in cash back and other manufacturer to dealer money there is to compute the actual dealer invoice). Now that you know what you should pay, compare it to what you agreed to before to see if you are near that number.
If I am not mistaken, the current rates equal a 3.5% interest rate (.001458 MF x 2400), which is bad. I believe this is where a lot of manufacturer to dealer money will come from (even though the salesperson will BS you saying that they could mark up this interest rate/MF but won't and "save you" money here - this is b/c BMW Fin. already does that for them). You need to see the big picture to see the sales scam. But last Dec, on 7's, I believe they had a 0.9% or $5K in option money, whichever you chose, which I is where you get the good deal. Let's see what this Dec brings - no one knows this now, so don't bother looking. Just wait until 1st week of Dec and then make your decision, which is exactly what I am doing.
Also, don't let that whole sales gimmick work your head, i.e. seeing "your" car "in production" (getting you to feel as though your car is already yours). The sales pitch/scam is an entire experience. However, I will say I do love the dang car. Just don't let your emotion allow you to buy a bad deal.
GL!
The residual price is always calculated by using the actual MSRP, which is a good thing. The higher the MSRP used, the lesser the difference b/t the residual value and the actual cap cost, which translates into lower monthly payments. Remember, lease payment is generally cap cost - residual value + interest / # of months + tax.
Car_man
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Starting in September all 7-Series models are being produced with free M Sport packages. All of the units in inventory that have this option will likely continue to receive credits from BMW for them.
Car_man
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Leasing Incentive 1
Requirements and Restrictions:
•Down Payment: $3,500
•Security Deposit: $0
•Lease Cash: $4,250
•Annual Mileage: 10,000
•Loyalty Lease is based on the 2013 740i. MSRP as equipped is $74,195. $2,625 Dealer contribution and $4,250 Lease Cash are required for the $809 monthly payment. Lease Cash includes $750 (Loyalty Bonus Cash) and $3,500 (Holiday Bonus Cash). $5,034 due at signing. Tax, tags and insurance are extra. Must finance through BMW Financial Services.
I didn't check about the continued M package, but I am almost positive that it will be a continuing incentive (btw - it doesn't really cost them more). Also, the interest rates continue to be 3.29%, which I will assume based on this number that the lease/money factor is .00137 (3.29/2400) and is thus not changed from last month.
So, we got a new incentive. Let's see if we get another one during 1st week of Dec. GL!
2013 BMW 750Li xDrive Sedan
Exterior Color
Dark Graphite Metallic II
Interior Color
Black Nappa Leather
MSRP
$104,495.00
Options
137I 750Lxi
B90 Dark Graphite Metallic II
NASW Black Nappa Leather
ZCW Cold Weather Package
248 Heated Steering Wheel
464 Ski bag
496 Heated rear seats
ZEC Executive Package
415 Power rear sunshade
416 Power rear sunshade with rear manual side w...
453 Front ventilated seats
4ND Instrument panel with leather finish
4U1 Ceramic Controls
610 Head-up Display
6NF Smartphone Integration
6NR BMW Apps
ZLP Lighting Package
552 Full LED Lights
5AC Automatic high beams
ZMP M Sport Package
760 Shadowline exterior trim
7MP Sport Package
2NG 19" M light alloy V-spoke style 302-withall...
710 M steering wheel
715 Aerodynamic kit
775 Anthracite headliner
840 Increased top speed limiter
1CA CO2 relevant vehicles
4CA Ash Grain Wood trim
6AA BMW TeleServices
Lender:
BMW FS
Type:
Lease
Term:
36 Months
Miles per year:
10,000 miles/year
Tax State:
NY
Monthly Payment:
$1,100.00
Total Due at Delivery:
$6,311.51 includes 7.375% Sales Tax
I have used a car lease calculator and the monthly payment stays the same regardless if the MSRP is higher or reduced for the M package credit.
Help.
I'd rather order the color I like rather than settle.
How much more per month are they trying to charge you for an ordered car than one that's in stock? On an expensive car like this, I personally think that it's silly to settle for a color that you don't want for a few dollars per month. Perhaps you could visit another dealer or two to see if they have the exact car and color combination that you want in stock.
Car_man
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Do you have the most updated rates and money factor for a 2013 750i xDrive? If so, please post with 12K and 15K miles.
Also, do you if the holiday cash can be combined with other incentives?
Thanks
I am looking to lease a 2012 BMW 750 LI xdrive 2012 . The best offer i have found is $899 for 36-month and following specs:
includes Cold Weather Pkg, Luxury Seating Package, 19" wheels Sat Radio, Fine Line High Gloss Wood Trim and more. BMW FS lease with approved credit, $4500 cap cost reduction, 1st, lic, title, acq, tax and doc due at signing. Includes Owner Loyalty. Please see dealer for details.
Do you think this is a good deal. What do I need ask the dealer when negotiating this deal
Thanks
RM
The residual value for a lease with only 12,000 miles per year would be 2% higher.
There is a $3,500 holiday cash incentive available on this car right now. It can be combined with $750 owner loyalty cash and the free M Sport Package offers.
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