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Prices Paid: Buying & Leasing Experiences BMW 3-Series Lease Questions
3223 messages, Last post on Dec 07, 2009 at 12:08 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: shay21 (Aug 13, 2007 6:08 am) Otherwise seems a reasonable deal, but the car is the base model with automatic transmission only. So if you wanted metallic paint, sports pack, leather etc then you would be paying more. |
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Hey guys, I am in the process of leasing a 335i sedan and i just want to know if this seems like a good deal to you guys. 2007 BMW 335i sedan Msrp 41,750 purchase price 40,900 535 mo with taxes (NJ) 24 mo/15,000 mi (i drive alot and I am young so i don't want to commit to 36 mos this car lot of uncertainty)
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Replying to: p1dallas (Jun 18, 2007 2:51 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: lamp (Jun 19, 2007 10:30 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: jaydeeoh (Jun 20, 2007 10:15 am) When you finally arrive at a selling price that you are comfortable with, make sure that the dealer that gives it to you uses BMW Financial Services' current buy rate lease money factor of .00150 (with the payment of a security deposit) to calculate your monthly payment. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Dealer out near Flint, Michigan suggested that if I want to keep a new 328i for 8 years or about 110,000 miles, 1)lease for three years, 2) have car CPO'ed at end of lease for about $1,300 and 100,000 miles major item warranty coverage, and then 3) buy it with a three year loan at the 2.9-3/9% interest rate that CPOs get through BMWFS. I ran the numbers and it seems that this is a less expensive way to get a new 328i for 7-8 years than buying outright from the get go because of 2.9-3.9% rate vs. 6%+ for a new car. Additionally, the shorter loan term with the CPO would more than offset the five year term of a new car loan. Am I missing anything with this analysis? Pros? Cons? The dealer told me that a larger number of people are following this strategy. Also, does anybody generally order leatherette? How does it hold up and feel in the summer vs. leather? Thank you.
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Replying to: oceana143 (Aug 19, 2007 3:53 pm) Pros: You spend less per month You have the option of dumping the car at lease end if it isn't the car you want then Cons: You'll spend WAY more for the car than you otherwise should Best Regards, Shipo
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Replying to: shipo (Aug 19, 2007 9:55 pm)
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Replying to: oceana143 (Aug 20, 2007 5:29 am) Shipo will need at least this much info to prove why leasing will be more expensive (it always is). |
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Replying to: oceana143 (Aug 20, 2007 5:29 am) Because you'll be financing that car for a loooong period of time, first with the lease and again with the buy-out loan (which you have no way of knowing what the finance rate will be in a couple three years). I'm thinking that financing a car for eight years (three year lease, five year conventional loan) would mean that you'll rack up more than twice as much in finance changes as you would if you just paid for the car with a 48 month note. I ran a calculation on a $43,000 financed amount and came out with about $4,000 in finance charges. I then calculated how much you'd pay over the eight years with the lease/buy method and it came to well over $8,000. That money doesn't include any origination fees, conversion fees or CPO fees, which if added in, raises the price even more. Best Regards, Shipo
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