Last post on Dec 09, 2013 at 12:42 AM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW 3 Series, Sedan, Wagon
#11877 of 12234 Re: 2013 328i xDrive [dchabitant]
Apr 28, 2013 (12:29 pm)
Oh that helps a lot! Thanks. The general manager at the dealership showed me the computer screen as he located these 2 cars in their system. The "wholesale" price looked to be $200 more than Edmund's invoice... not sure what that is about.
I also tried to work a deal on a 320XI with alpine white, black leatherette, dark burl walnut trim, premium package, driver assistance package, lighting package, nav with BMW assist. I was quoted for $40,200 with an MSRP of $43,145 which, according to Edmund's, is $515 above invoice. I really didn't notice a difference in the drive between the 328 and the 320 and figure that it makes better financial sense to save that $3-4k off the MSRP.
With leasing this, I should be paying around $474.68 a month for 36 months/12k miles. The dealer was telling me that I would be paying $504 a month. Not sure where he is getting his numbers from but he was very reluctant to have to order this vehicle from Germany and he was very pushy to move existing units off his lot (especially because it is the end of the month).
Is the price that I negotiated for the 320XI a good buy, and, what should I be paying per month for this kind of a lease. Thank you again!
#11878 of 12234 Re: 2013 328i xDrive [sbedi88]
Apr 28, 2013 (1:05 pm)
Ask him to show you his numbers on the lease, I'm betting he is padding the money factor and Doc fee's. How much out of pocket is he quoting you?
#11879 of 12234 Re: 2013 328i xDrive [sbedi88]
Apr 28, 2013 (3:18 pm)
Yes, ask him to show you an itemized list of all fees. Your lease payments depend not only on purchase price but also on money factor being used and the fees your dealer is charging--acquisition, doc/processing, tags and associated taxes.
Again assuming that you're paying these fees upfront ($1,000-$1,200), your lease payments on the car you describe should be about $437/month plus tax.
Make sure you know what money factor your dealer is using.
Btw, Edmunds has a lease calculator that will give you a pretty good estimate of what you should expect to pay..
#11880 of 12234 Re: 2013 328i xDrive [flightnurse]
Apr 28, 2013 (4:33 pm)
He didn't give me any figures for the out of pocket (I know, I know, that is a big mistake). He changed the subject to the 328xi constantly (which he said he was more willing to work on). I was figuring out how he did his calculations and it looks like he rolled the taxes into the monthly payments (should be $473+tax and he was quoting 504)... I tried the Edmund's calculator and I was getting a monthly lease rate of 460+tax... I calculated it myself using the equations online and got 474+tax which is very close is why I assume that he is rolling in the taxes.
I'll go to the dealership tomorrow and get the complete breakdown.
Thanks for the advice
#11881 of 12234 Re: 2013 328i xDrive [dchabitant]
Apr 28, 2013 (4:40 pm)
Can you show me how you are coming up with the $437/month+tax? I keep getting 474/month+tax. Here is how I calculated it:
Capitalized Cost: $40,200
Residual (62%): $26,195
Money Factor: 0.00129
Monthly depreciation charge:
($40,200 - 26,195.90)/36 = $389.03
Monthly finance charge:
($40,200 + 26,195.90) x 0.00129 = $85.65
I wish this base rate was $437! Maybe I am calculating this wrong. Could you please tell me how you came up with this?
#11882 of 12234 Re: 2013 328i xDrive [sbedi88]
Apr 28, 2013 (6:19 pm)
You said in your earlier post that MSRP was $43,145, not $42,250. Also, I thought you mentioned that you were leasing for 36 months with a 12k mile allowance. If I'm not mistaken, residual for 12k miles is 64%, not 62%.
#11883 of 12234 Re: 2013 328i xDrive [dchabitant]
Apr 28, 2013 (7:14 pm)
The MSRP is 42,250 without the destination charge ($895). Does the destination charge get factored into the car when you are calculating the residual?
I got the residual values from ridewithg dot com which states that the residuals for this month are 62%... I don't what mile allowance they are using for that value.
#11884 of 12234 Re: 2013 328i xDrive [sbedi88]
Apr 28, 2013 (7:55 pm)
IF you read the bottom of that website
2013 BMW 328i Sedan xDrive
36 Month – Residual 62% of MSRP – .00129 Base Rate
To calculate residual values for 12k miles/yr please add 2%. For 10k miles/yr, please add 3%.
So the RESIDUAL for 12K is going to be 64%. That website is giving quotes for 15K miles and expects you to add 2% if you want 12k miles/yr
#11885 of 12234 Re: 2013 328i xDrive [sbedi88]
Apr 28, 2013 (8:16 pm)
It's a good point regarding the destination charge. you would think that a destination charge should not be factored into the car's residual value. But I think that it does get factored in. I'm pretty sure that if it's included in the MSRP, it's also included in the end-of-term residual value. I may be wrong, but that's how I've been calculating my monthly-payment estimates; and the dealer's numbers jibed with mine.
As brooklynaudi states, the residual for 12k miles is 64%. Car man and others on this forum are kind enough to provide updated money factors and residuals every month. Search the forum for up-to-date figures.
#11886 of 12234 Re: 2013 328i xDrive [dchabitant]
Apr 29, 2013 (2:48 pm)
The destination charge does get factored into the residual value.