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Prices Paid: Buying & Leasing Experiences BMW 3-Series Prices Paid and Buying Experience
9168 messages, Last post on Sep 07, 2008 at 11:41 AM
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Replying to: blueguydotcom (Jun 03, 2006 11:19 pm) |
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Replying to: blueguydotcom (Jun 03, 2006 11:19 pm)  .
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| I have been offered on a Lease: 325xi, 18,000 per yr, 3 years, fold down seat, automatic, power seats, $3,000 at down. I don't want to be taken advantage of....is this a good deal. I am a middle aged woman always wanted a BMW. Leasing is looking attractive, but don't know if this deal is, please HELP!!! | |
| Sorry - the payment will be $498 per month, 18,000 miles per year as I am a real estate agent put on a lot of miles. Leasing is new to me and I don't understand the money factors. Can anyone tell me if this is a good lease? | |
It is a 2006. He said the MSRP was $36,000 +. I need a fold down rear seat only for real estate signs.
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MSRP 41,345 (Alpine White, Manual Trans, Cold Weather Pkg, Sports Pkg, Terra Leather) Residual 64% Cap cost before 725 of 39,590 base money factor .00225 factor after 7 deposits .00176 ( Total of 8 deposits) Payment including tax of 538.41 Amount due at inception 4,988.41. Considering the above, please let me know... 1. How does this deal sound? My calculations show it to be 1,700 over invoice + 725 (625 Acq + 100 doc fee). 2. I have asked for 39,590 (including the 725), which gives him 1000 in profit (invoice+725+1000). 3. How much better can I do? 4. Should I wait to see the July and/or August MF to get even a better deal as the 2007 models should be coming out in Sep? 5. He keeps adding the tax to the net cap cost when calculating the monthly payment, but when I calculate the tax after figuring out the before-tax payment, I always come up with about 2-3 dollars less than what he quotes. Any explanation? Thank you for your help. |
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Replying to: marimcgrath (Jun 03, 2006 9:48 pm) |
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Replying to: hollya (Jun 05, 2006 12:01 pm) 1. Purchase price: $1000 over invoice should be a fair deal and very do able. 2. Money Factor markup: limited to 0.0004 by BMWFS 3. Acquisition fee markup: limited to $200 by BMWFS Everything else is just math! Money Factors and Residuals for the 2006 325xi 24 mo/15k mi – Residual Value 70% of MSRP – .00285 Base Money Factor Rate 36 mo/15k mi – Residual Value 60% of MSRP – .00275 Base Money Factor Rate If you need more miles beyond 15K, you can buy them now or buy them up to 6 months before the lease ends. The rates should not be very different though you should check what the dealer is quoting you. Your monthly payment on a lease consists of two items: 1. Depreciation = ( Capitalized Cost - Residual)/Number of Months 2. Interest Charge = (Capitalized Cost + Residual) * Money Factor. where capitalized Cost = negotiated price + acquisition fee and Residual = MSRP * Residual Percentage. NEVER put money down to reduce the capitalized cost on a lease since you lose the down payment if the car is lost or totalled. To reduce monthly payments, you can make multiple security deposits to reduce the Money Factors (interest rate). Each extra security deposit is worth a 0.0007 reduction; you can make up to 7 extra deposits. Note that if you do not make any security deposit you rate goes up by 0.0015. Tax treatment varies between states. In most states you pay tax on the total monthly payment. Your drive off should be equal to: First Month Payment + DMV Fees + Security Deposit(s) + Doc Fee
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Is this a Deal or No Deal? 325xi, automatic, power seats, fold down rear seat, spark. graphite paint, 18,000 miles, 3 years, $3,000 down, monthly paymnt of $498. I'm a woman in my 40's and don't want to get taken advantage of. I really appreciate all your input/help on this. Comparing lease quotes from other dealers, this seems good, but I'm not sure. Can anyone let me know soon. Thank you.
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