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Lease rates, residual value for BMW 428i convertible in California - 2014 4-Series
I am in the San Francisco Bay Area and am in the market for a 428i convertible. Does anyone have the number for money factor and residual value percentage at the end of a 36 month, 10K miles/year lease?
Any suggestions on what to target for price below MSRP or above invoice will be greatly appreciated.
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.00130 MF and 63% residual. No factory incentives on this model.
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This early in the release, you are going to be hard pressed to find an outstanding deal. However, you can send email offers to dealers, offering $1000 over invoice, although I would be surprised that they will bite on that.
I am in NY area and got an offer from a dealer for 2014 BMW 428xi Convertible for leasing 36 months, 12,000 miles per year.
bmwusa website doesn't show 428 xi, but BMW production line is making it now.
So, I am going to order 428xi Conv, M Sport Line, Cold weather, Driver Assistance, Technology, Side and Top View Cameras, Navigation, Harmon Kardon @ MSRP 64,200.00.
Selling price $ 59,950.00
Residual Value : 39,804(62%)
MF: 0.0019 (This is bothering me...)
First Month: 696.56
Acquisition Fee: 725.00
DMV: 240.00
Fuel Surcharge: 61.00
Tire Fee: 10.00
Inspection Fee: 10.00
Doc Fee: 75.00
Tax on Fees : 62.53
No Deposit
Cash on Delivery : $ 4042.91
Do you think I have a good deal? Should I order?
The Money Factor 0.0019 seems high compare to others.
Please comment on this deal, since this is my first time to lease a car in my life.
Thanks,
All of the numbers look right, except for that money factor. The base MF is .00130, and I don't see how they can get to .00190.. the maximum markup will only take you up to .00170.. and, frankly, at .00190 MF, the numbers just won't add up.
I'm assuming that the NY sales tax is paid upfront, and that's why the Cash on Delivery is more than the individual amounts add up to? If so, .0019 MF would give you a payment of around $749, and .0013 MF would be about $689/mo. (which is very close to your number).
So, check again on the money factor.. maybe, just a miscommunication. And, check to see if the $4042 includes the sales tax upfront. (which would be just about right).
It's not a bad discount on a brand-new model, and it looks like they are using the base rates.
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I
As you mentioned I have a confirmed email from the dealer as follows. Please comment is this good deal. BMW 428i xDrive Convertible. 12,000 Miles@36 months. MSRP: $ 64,200, Cap Cost(Selling Price): $ 60,200, Residual: 62 %, Money Factor: 0.00130. Monthly Payment : $ 765 (includes NY Sales Tax 8.625%) or $ 697 plus Tax. Should I include Tax in the monthly payment or pay upfront? What is better for me ?
It will be slightly cheaper to pay the tax upfront, over the long term, but I would still roll it into the payment, and here is why: Even if you roll it into the CAP cost, the tax is still paid upfront to the state. If the car is stolen or totaled early in the lease, GAP insurance protects you, by paying off the lease balance.. but, any amounts you paid upfront won't be reimbursed. So, that $2000 in sales tax would seem like a pretty hefty penalty, if your lease only lasts a few months. But, if it's rolled into the CAP cost, it's just part of the lease payoff.. and, you've only paid a pro-rated portion of it, along with the rest of your lease payment. I feel the same way about the acquisition fee (roll it in).
regards..
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You are great help for all Edmunds lovers. I will toll the tax and acquisition fee into monthly payment. Thank you so much for your professional advice. Have a wonderful day !
428xi , 36 month , 15k miles, with premium, camera, cold weather. Price msrp 52k, selling price 49200, residual 61%, 0 down, 614.12 per month. NY . Is it a good deal
Not much of a discount, considering BMW has a $1000 incentive on the vehicle. Another $1000-$1500 off would be a good deal.. Not knowing all the specifics of your lease, that would still bring the payment down by $28-$42/mo..
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