Last post on Dec 07, 2013 at 8:30 AM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW 3 Series, Sedan, Wagon
#12071 of 12233 Re: my 2013 328i drive lease deal [konacoug]
Sep 25, 2013 (1:44 pm)
Thanks for your help and education these past few days on search for a fair lease amount on the 2013 328 i I am looking to bring home. I would appreciate your input on the below numbers. The one thing I see missing for sure is the $2000 build out credit BMW is offering on the 3 series. It also looks like he started the money factor at .00145 (3.48%) when I thought this month's rate was .00125 (3%). Truecar.com lists dealer invoice at $44,145.
Here is what the dealer sent me this morning.
2013 328i Mineral white/saddle brown interior
$41,415 My price plus tax/license
-$1,000 U Drive event credit
-$500 loyalty cash BMW
-$500 USAA member rebates
36 month lease
10k miles per year
$2000 drive off
$3150 security deposit (100% refundable at the end of lease)
$388.35 payment plus tax
Money factor: .00096
Residual 59% = $27921.75
thanks for any help you can give
#12072 of 12233 Re: my 2013 328i drive lease deal [cat70]
Sep 26, 2013 (12:02 pm)
Also BMW has a 2K credit on all 3 series cars.
#12073 of 12233 Re: my 2013 328i drive lease deal [flightnurse]
Sep 26, 2013 (12:38 pm)
Yes, dealer said he included that in the $41,415 selling price.
#12074 of 12233 Re: my 2013 328i drive lease deal [cat70]
Sep 26, 2013 (1:56 pm)
Dealers are allowed to mark up the money factor slightly. Most don't.
#12075 of 12233 Re: my 2013 328i drive lease deal [zoombie99]
by kyfdx@Edmunds HOST
Sep 26, 2013 (2:52 pm)
In my experience, most BMW dealers will mark-up the money factor... some will negotiate on it, but a lot won't...
just my $0.02...
#12076 of 12233 Re: my 2013 328i drive lease deal [cat70]
Sep 26, 2013 (3:47 pm)
ideally leasing should have a better interest rate than financing, with dealer raising mf, acquisition fees, lease insurance, etc., might consider purchase at 2.99% current offers from bmw financial for 37-72 mo. I would also suggest to push for $0 drive off. Good Luck!
#12078 of 12233 Re: my 2013 328i drive lease deal [kyfdx@Edmunds]
Sep 27, 2013 (10:39 am)
Prior to the leasing of my past two cars, I have sent an email to the dealer stating " Please confirm that the money factor is the lowest offered by the manufacturer."
I ordered a 428x this week and the dealer tried to add to the money factor after we agreed on a "selling price" and he lowered it to .00125 when I refused to accept it.
#12079 of 12233 Re: my 2013 328i drive lease deal [cat70]
Sep 27, 2013 (9:47 pm)
Glad to help.... first off the dealership is marking up the money factor to .00145, that is .00020 above the base money factor rate, which equals a higher payment for you and more profit for the dealer, which you have noted. I would need a little more info to check your numbers...what is lease acquisition fee? DMV and taxes, plus dealer doc fee. Also, are you including any of the extra warranty items they typically try to sell you. Finally, which state are you in, it can make a big difference regarding sales tax and dealer willingness to deal.
Offhand, the car looks priced about 1k too high(for 2013) and your $2000 drive off is a little too high too. But it is hard to tell without seeing all of the fees they are charging you. See if you can obtain all of the charges.