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Prices Paid: Buying & Leasing Experiences BMW 3-Series Prices Paid and Buying Experience
10311 messages, Last post on Dec 04, 2009 at 5:11 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: jim_beam (Feb 25, 2007 11:05 am)
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Replying to: jim_beam (Feb 26, 2007 9:16 pm) |
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Hi, I've been an avid follower of this forum for quite sometime, but never thought I would actually be posting here. I am looking to lease a new 335 coupe. I finally managed to find one in NJ with a 6 speed manual transmission completely loaded. MSRP comes to $49,615. I currently have a GS 300 with about 73,000 miles on it which Im looking to trade in. I got offered $12,000 at carmax and I was thinking of going just trading it in at this dealer (for the same or higher amount) and using that money as a down payment on the lease. I've never leased before but have been told that is not a wise decision. I told the dealer that I would trade the car in and pay another 3,000 bringing it to a 15,000 down payment. He calculated a lease of 257 a month for 24 months and I just wanted to ask whether or not this sounds reasonable? I apologize if the question seems stupid, but I have never leased before and am looking to learn as much as I can from everyone here. Thanks to everyone in advance for the help! MK
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Replying to: mk0974a (Feb 28, 2007 4:51 pm) I strongly suggest you visit www.leaseguide.com to learn about the ins and outs of leasing. Beyond that, you always negotiate the sale price of a car - purchase or lease - always negotiate the sale price. The lower the negotiated price, the less you pay per month. You should learn the MF for a 335i. This is negotiable too. Dealers can mark it up - so ask for that exact number. Feb rates on the 335i coupe = 24 mo/15k mi – Residual Value 68% of MSRP – .00175 Money Factor Buy Rate 36 mo/15k mi – Residual Value 58% of MSRP – .00175 Money Factor Buy Rate That's a 4% rate. Another thing to look into - multiple security deposits (MSDs). These will help you adjust the MF up to 0.00049 points. |
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Replying to: mk0974a (Feb 28, 2007 4:51 pm) Let's lay it out.. 1) We know you can sell your car for at least $12K.. Assume you do... then set that money aside. 2) 335 coupe.. You probably won't get much of a discount, but that one is loaded... assume $2K off MSRP. 3) Base MF .00175, residual for 3yr/45K is 58% $49615 MSRP $47615 Selling price $48240 CAP cost (selling price + $625 acq.fee) MF .00126 (7 MSDs) Payment = $638/mo.+tax = approx.676/mo. including tax.. Due at signing: 1st payment, security deposit, 7 more security deposits, registration/license fees. Approx $6600 total due at signing, of which you'll get back $5600 at lease end.. Total cost of your lease = $24,660 for 36 months. 2yr/30K lease? Payment = $750/mo. including tax Due at signing = $7050, of which $6000 comes back at lease end. Total cost = $18,300 for 24 months. That is a lot of money to rent a car for two or three years.. Just because you have $15K in cash (the Lexus + $3K) doesn't mean you should blow it all on a lease. Bottom line, that car rents for $675-$750 per month, depending on the terms... If that is in your budget, then go for it... But, don't put all that money upfront to make it seem less expensive. Good luck.. you picked a nice car.. regards, kyfdx |
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I just pick up my car basic 328ci with automatic and metallic as option. MSRP $37745. Gross Cap Cost $35893. Lease for 36/15k with 0 down. Total drive off $2036 (including $500 refundable security deposit and first month payment). Monthly payment $499 (including tax in CA). I think is pretty good deal. I am just wondering what is my money factor ? I know the residual value is 58%.
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Replying to: sonysw (Feb 28, 2007 9:27 pm) |
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Replying to: sonysw (Feb 28, 2007 9:27 pm) Congrats on the new ride.
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| Bought 335i recently from Momentum BMW, SW Frwy, Houston. From beginning to end, it was the best buying experience ever thanks in large part to the Internet salesman who handled the deal. Have purchased and leased several Lexus vehicles in the past. With this BMW buying experience there was no drama, no deception, no surprises...and the car is amazing too. | |
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