Last post on May 11, 2013 at 8:23 AM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
BMW 5 Series, Sedan, Wagon
#1999 of 4028 Re: New Jet Black 2006 525i [dagman]
Aug 23, 2005 (8:04 pm)
The dealer was Shelly BMW, it is a medium sized dealer. No dealer fees other than $45 documentation fee. This is where I take my 5 series for maintenance. I have been very pleased with them so far.
I was the one who did all the negotiations for my friend. She just sat there and relaxed. You know how some dealers like to take an advantage of unsuspected buyers (read not so familiar with the buying process). For me to make that deal it was quite simple and painless. I have negotiated at least 20 new car purchases for my friends and co-workers in the last year or so. I am not a broker just a friend who try to help others. I just made several calls to surrounding dealers Internet/fleet managers and told them what I was looking for in a car with specific options and color. If they had one, then I would ask what is their rock bottom fleet/internet deal. Most often, they quoted me a very competitive price. Most quotes were within $500 or less of each other. Taking in consideration their attitude on the phone, their price, and their location, I would either thank them for their time or go and purchase from one of them. It is very simple. I am always honest, courteous and professional. I try not to waste my time or theirs. They seemed to like that.
Regarding the 6yrs/100,000 miles extended maintenance, the finance manager started $1995. I told him that I would pay $1,195 for the maintenance agreement or I would shop around, since I have time, and buy it from another large volume dealer in Southern California (drop a name of dealership). Typically, as long as you allow them to make a little profit they will sell you what you want at a reasonable price.
If you think about the $1,195 for the 6yrs/100,000 miles maintenance agreement, this will pay for itself as it will include an inspection 2 ( 60,000 miles) which can range from $700-$1000 and a brake job which includes front and rear discs and pads and sensor for another $1,000. In addition, it would pay for other items such as wiper blades, coolant service, brake fluid flush, as recommended by BMW.
To me the $1,195 is a no-brainer for the extended maint..
#2000 of 4028 Re: Just leased 2006 525i in Nor Cal [wsoper]
Aug 23, 2005 (11:35 pm)
Which dealer is that? I'm looking for exactly the same package but have no luck so far.
#2001 of 4028 Re: Just leased 2006 525i in Nor Cal [ex_sc400]
Aug 24, 2005 (8:03 pm)
I leased it from Sonnen BMW in San Rafael. When I was there they had two more left in stock with the same options. Good luck!
#2002 of 4028 Re: Just leased 2006 525i in Nor Cal [wsoper]
Aug 25, 2005 (10:40 am)
Congrats on the new ride!
How many miles/year is the lease for?
#2003 of 4028 Re: Just leased 2006 525i in Nor Cal [bmq]
Aug 25, 2005 (9:48 pm)
3 year/36k miles
Aug 27, 2005 (1:16 pm)
i've never leased a car before
i've been offered a 530i with premium, cold weather, automatic, sat radio
price 50k (MRSP 51615)
36 month/10,000 miles a year
state tax 6.0
initial payment (includes all taxes and fees, 1st month and 500 security deposit) of 4803
and monthly payments (including taxes) of 600
any advice would be very welcome
i know it isn't a lot of miles of year, but i expect to use a little less based on previous driving
#2005 of 4028 Re: good lease? [humphreydogger]
by kyfdx HOST
Aug 27, 2005 (2:42 pm)
Can you break out the $4803?
First payment $600
Security deposit $600
Aug 27, 2005 (5:00 pm)
cash down is 2900
1st month and security deposit
acq fee 625,and i don't know if this is part of the money down or do i pay it later?
i was not told the breakdown of the rest (which i will get prior to further negotiations)-motor vehicle fees?
#2007 of 4028 Re: good lease? [humphreydogger]
by kyfdx HOST
Aug 28, 2005 (8:02 am)
That is almost $4800, right there...
Here is what we know..
$1615 discount from MSRP... A little weak, but if they are using the base acq.fee and money factor (and, they are), not a bad deal.. just fair..
Using your figures... I get $545/mo. + tax.. I don't know where you live, but that looks awfully high for tax.... The other explanation, is that there is about $700 of doc, dealer, and registration fees in your upfront money, and that acquisition fee is being added into the cap cost and the monthly payment..
If that is the case, then the payment would be $563/mo. + tax, and the numbers would make sense.. However, I'd want to see how the rest of that money upfront is broken down... Any other fees above state required registration, etc., should be considered part of the selling price... and, your selling price is high enough already.
Also, it is never a good idea to put money down on a lease... It makes the payment seem palatable, but it really doesn't decrease your costs any..
I'd do it this way:
$50000 Selling price
$50625 CAP cost (selling price + acq.fee)
Payment = $649/mo.+ tax
Due at signing = 1st payment, security deposit, title/license/registration. (approx. $1700 total)
Actually, I'd hope for another $500-$1000 lower selling price, but at least they are using the base rates..
#2008 of 4028 What is the Finance Equation
Aug 29, 2005 (1:21 am)
I'm looking for the equation to determine the monthly payment for purchasing a vehicle (not leasing).
I have the total amount to be financed (negotiated car price - cash down + license & fees), APR and number of months.
I know there are plenty of online calculators to determine the monthly payment, but I need to know the equation so I'll be able to create an excel spreadsheet I can take with me to the car dealer.
Also, if the dealer finances me through a local bank (as opposed to BMWFS), is there a legitimate banking/processing/document fee or is that a junk fee? And again, this is all for a purchase not a lease.