Does this lease make sense?

missiea · May 2016

I've not leased before and have located a 2013 328i that the dealer is offering to lease. The car has 31k miles. Price is $27,165 including all fees. With a trade in of my current car credit of 6500, amt applied upfront from that is 1,070 with net cap cost of 21,735. Residual 17,085, 36 months at .00198 money factor, payments 222.51 with 10k miles/year. Is this a good deal?

Michaell · May 2016

missiea said:
I've not leased before and have located a 2013 328i that the dealer is offering to lease. The car has 31k miles. Price is $27,165 including all fees. With a trade in of my current car credit of 6500, amt applied upfront from that is 1,070 with net cap cost of 21,735. Residual 17,085, 36 months at .00198 money factor, payments 222.51 with 10k miles/year. Is this a good deal?

We don't have any information on the new CPO BMW lease program.

I will suggest, however, that you not use the trade equity as down payment - if the car is stolen or totaled, you lose that money. Have the dealer cut you a check for anything not being used for up front fees and/or taxes.

missiea · May 2016

Thank you!

Mr_Shiftright · May 2016

Doesn't make sense to me because are leasing a car without warranty, which puts you at financial risk for service and repair costs. With your trade in and some shopping, you'd be able to lease a brand new car for not much more than you are paying here. It might not be a BMW, but could still be a nice sedan.

Michaell · May 2016

Funny you should suggest that, @Mr_Shiftright - I just saw a post where someone leased a new Kia Optima EX Hybrid for $190/mo - with tax.

Mr_Shiftright · May 2016

If the BMW is a CPO Lease, then that extends the factory warranty by 2 years. The poster didn't mention whether it is or not. So depending on date of entering service, that would take the car to at least through 2018 on warranty.

kyfdx · May 2016

Mr_Shiftright said:
If the BMW is a CPO Lease, then that extends the factory warranty by 2 years. The poster didn't mention whether it is or not. So depending on date of entering service, that would take the car to at least through 2018 on warranty.

BMW is starting to push CPO leases, and even including extended maintenance.

If they can protect the lessee from repair/maintenance issues, they could probably do pretty well with them. It might bite them on the back end, though.

Michaell · May 2016

Mr_Shiftright said:
If the BMW is a CPO Lease, then that extends the factory warranty by 2 years. The poster didn't mention whether it is or not. So depending on date of entering service, that would take the car to at least through 2018 on warranty.

BMW is starting to offer CPO leases, but we don't have any information on how it works, or what the numbers are.

Just seems like a lot of trouble -- two identical 328xi's - one with 30K, the other with 35K. Do they have the same residual?

Mr_Shiftright · May 2016

????

Does this lease make sense?

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