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You are in the Prices Paid - Buying & Leasing Experiences
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BMW 3 Series, Sedan, Wagon
#7042 of 12247 HELP!?! Is this a good deal?
Dec 18, 2006 (9:49 pm)
Hello all. Here is what I am looking at:
2006 Used (11k miles) Certified 325I w/ Sports, Prem, Park Assist, and Xenon Lights. They asking $37,950, but not sure if that is what they are using for the below deal.
Here are the numbers they did supply me: Residual = $27,912.55 w/ a MF = .00242 - 24 month lease.
Here is the deal:
I am trading in a 1998 328IS w/ 62k miles, KBB says trade-in is $8,200 to $9,300 - mine falls into the $8,200 (fare) status.
I own the trade-in free and clear.
There offer: My trade-in plus $2,500 and I pay NO lease payment for 24 months. Essentially, if my trade-in was valued at $8k, plus I deposit $2,500, for a total of $10,500 / divided by 24 months = $437.50 per month.
Is this a good deal or am I correct in assuming that my trade-in of $8000.00 / 24 months = $333.00 is closer to what I should be paying on a used vehicle / Lease? Or is the Used status even applicable to a Lease, if indeed the Residual is the same whether new or used.
Is there an advantage or glaring disadvantage to Leasing a Certified Used BMW? Also, is the deal above good or should I insist on not paying the additional $2500?
#7043 of 12247 Re: HELP!?! Is this a good deal? [lancemcc]
Dec 19, 2006 (5:04 am)
"2006 Used (11k miles) Certified 325I w/ Sports, Prem, Park Assist, and Xenon Lights. They asking $37,950, but not sure if that is what they are using for the below deal."
Ummm, unless you've forgotten to mention quite a few options, this car is a total rip-off. Think about it this way, a brand new 2007 328i with Metallic Paint, PP, SP, Xenons and Park Distance Control is only $39,470. Said another way, a used 2006 325i with 11,000 miles on the clock should only fetch about $34,000 with the CPO warranty and only about $32,000 without it.
#7044 of 12247 Re: HELP!?! Is this a good deal? [shipo]
by kyfdx@Edmunds HOST
Dec 19, 2006 (6:15 am)
Well.. it is a lease deal.. and he doesn't know the actual selling price..
$437/mo. is fairly cheap to lease a 3-series on a 24 month lease, assuming his car has an actual value of $8K (which seems about right).
I would guess that leasing a new one would be considerably more expensive.. I don't see a downside to leasing a used one that will be under warranty the entire time.. I'm not even sure why they would certify it, unless the certification results in a higher residual.
#7045 of 12247 335 COUPE LEASE
Dec 19, 2006 (10:14 am)
Looking to complete a lease deal tonight.
36 month/ 12000miles
600/month with tax, 564 without tax
At signing including the 1st payment $911 and drive away
The sum of all payments after 3 years= (600*36)+311=21911
Is this a decent deal? Please let me know
#7046 of 12247 Re: MF for 335i Seedans in So Cal [smp9]
Dec 19, 2006 (2:35 pm)
The dealer I'm working with told me this: The MF that the dealers get from BWM Financing is .0015 (I found this online somewhere, so saleslady had to admit this was correct). The dealerships then mark it up from there - I have gotten my dealer down to .0017 (started around .002), not sure if I can get them any lower but still trying.
I'm not sure if it is different for purchasing, this is for leasing.
Hope this helps.
#7047 of 12247 Quote for 335i - good deal?
Dec 19, 2006 (2:42 pm)
I am working with a dealer on a 36-month lease for a 335i with premium package, cold weather pkg, automatic trans. Here are the terms of the lease we are working out:
MSRP = $44,595
Sales price = $42,300 (approx. $1200 over invoice)
Trade-in value for old car = $500
Residual = 61% or $27,202
Money factor = .0017
We expect to drive the car around 18,000 miles per year, so have a few scenarios by which to structure this deal:
1) Do a 15k miles per year lease with numbers above makes monthly payment = $537/month (At lease-end, we would have to pay overage for miles equaling approx. $1800 based on actually driving 18k miles per year at $.20 cents per mile)
2) Do an 18k miles per year lease with numbers above makes monthly payment = $573/month (This is because residual value drops to 58% with more miles in contract)
My questions are:
1) Do these numbers seem like reasonable deals?
2) Which scenario is the best deal? We are leaning toward #1 thinking we might be able to negotiate down some of the overage fees in 36 months if we re-lease w/ BMW
3) Is $500 a reasonable trade-in value for a 1997 Ford Escort with 160,000 miles on it, in pretty good condition?
4) Does it make more sense to have the trade-in used to reduce the cap cost, or is it better to have the trade-in applied to our upfront fees to reduce our cash due at signing?
5) Here are the fees we were quoted: Do these seem reasonable??
Security deposit = $600
First payment = $570
Doc fee = $50
Acquisition fee = $825 (is this negotiable??)
Plates, title, license = $535
Taxes = $1300
Total upfront fees = Approx. $3960
Thanks for any advice you can give me!
#7048 of 12247 Used 325i BMW Purchase for kyfdx
Dec 20, 2006 (6:00 am)
I would appreciate your wisdom regarding the purchase of a 2006 325i. It's been several years since I've been in the car market and could use all the help navigating the buying process. The local Infinity dealer has a 2006 325i with 8000 miles and asking $30,990. The only option on the car is auto transmission. The dealer claims the car is in excellent condition but does not have a vehicle history or carfax. I took the VIN to the local BMW dealer and found they sold the car new in June '06 and the car has not yet been in for service. I drove the car briefly but between the salesman talking, air conditioner and radio I didn't focus on the driving experience. Since $30,990 is the dealers opening "internet sales price" I assume they will go lower. Would $27 or $28,000 be a reasonable offer? If I buy the car and plan to keep it 5-6 years would it make sense to ask BMW to CPO it or buy the extended warranty? I will be trading in a 2000 Acura TL. Also, while at the BMW dealer I drove a 2006 X-3 CPO.The car was a great drive but it's out of my price range. The salesman mentioned several times that late December is a great time to buy a car and prices could really change. Anyone have any experience in buying the end of the year?Thanks.
#7049 of 12247 Re: Quote for 335i - good deal? [melissac1]
Dec 20, 2006 (7:32 am)
Your deal is very similiar to mine, but mine was only 12k and msrp of 44695. Since you are quoting at 15k per year, the monthly sounds about right. I negotiated no due at signing on mine. Your upfront fees sounds about right but you can negotiate that for upfront as well since I hate putting money down for leases.
Acquisition fee i paid on mine was 800. 600 is bmw na, 200 is part of the dealer. You can negotiate that portion. I have seen acquisition fee ranging from 600-895 from dealer to dealer.
Security deposit can be negotiated to be waived.
I am not sure why they are charging you 1300 in taxes when this is a lease; something isn't right.
As for scenerio, I would got with scnerio 2. Since you are leasing and you know how much you plan on driving; why worry when you are paying that much money to have to worry or let the car sit because you are over.
#7050 of 12247 Re: Used 325i BMW Purchase for kyfdx [fltfv]
by kyfdx@Edmunds HOST
Dec 20, 2006 (7:52 pm)
Pricing a 6-month old used car is sort of tough... The easiest thing to compare it to.. might be a similar loaner car that the BMW dealer has for sale.... though the loaners will likely have more options than just automatic.
I'll let you do that research and see if the asking price is reasonable..
That said.. If they are asking $31,000, a starting offer of $28K-$29K is certainly reasonable.. assuming you think the car is a good value at that price point.
If the car is only 6 months old, I wouldn't bother with an extended warranty... you'll be covered for 3.5 years more under the existing warranty.
Be sure to have someone check that the car hasn't been in an accident or had paint work.
The only other issue? Will you be happy with a base model car with no options?
#7051 of 12247 07 328i lease in NJ
Dec 21, 2006 (12:14 pm)
I just got the lease no. from a NJ dealer - 2007 328i metallic with premium pkg, auto and heated fron seats. The msrp with destination is 38495. 27 months 10k/year lease, 74% residual, MF .00175, $2600 due at signing (includes 1st month payment and $450 ref. security deposit, bank fee and title). $418/month payment and total lease cost is $13018. Is this good. I didn't discuss any further. Xenon can be rolled over for around $10/month more
I also asked about ED and there is approx. $2250 difference in base price ($30130 vs. $32400), although I will have to wait for more than 2 months for the car.