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Prices Paid: Buying & Leasing Experiences BMW 3-Series Lease Questions
3200 messages, Last post on Nov 25, 2009 at 7:08 AM
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Replying to: niclaf77 (Dec 08, 2007 3:45 pm) 1. i know that the msrp is DEFINITELY the first place to start. i am getting the idea that i should not be paying more than $1000 above invoice. 2. is the residual value fixed or negotiable? and does changing the lease from 10k to 12k to 15k change the overall please price much? 3. is the money factor another value which is set by BMW financial and non-negotiable? 4. what exactly is the bank fee and is that something which is required, or again is it negotiable? any other tips regarding negotiating with dealers. i am trying, for the first time, not to negotiate the monthly price but instead to haggle down each parameter to the lowest and then just plugging in the calculation in hopes of a better deal. thanks to everyone in advance.
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Replying to: futurebmw (Dec 10, 2007 10:16 am) 1 - the msrp is the sticker price on the car and i found with bmw - it seems to be about $3000 over invoice. you can go right here on edmunds.com and build a car the way that you want it and it will tell you both msrp and invoice of the car. it will also tell you what other people are paying in your area. it depends on the type of car - for bmw, i would try to pay no more than $1000 over invoice - this can be easy or hard depending on how popular the car is and how bad they want to make a deal. see my deal above - i saved about $2100 off msrp and paid about $900 over invoice. 2- the residual percentage is set by bmw each month. the residual values are different for each car and are also different depending on how many miles and lease term. for example - a 3 month lease with 10,000 miles a year on the bmw 328xi had a residual of 64% - with 12,000 miles, it went down to 63%. you can usually come on here and find out what the residuals are on the car that you are looking for. they are not negotiable so you want to make sure they are not using a different number and making money off of you. 3- the money factor is also set by bmw each month and each car has a different one - this is your interest rate - be careful as some dealers try to mark these up to make a profit. again, you can come on here and find out what the money factor is for the car you are looking at. 4- the bank fee is $625 for bmw - some dealers try to mark it up to $825 but i would not pay more than $625 for this. i don't think it is negotiable with bmw. i know that some dealers will waive this fee if you have tier one credit but i am not sure if bmw is one of them. i would go to the dealer equipped with all of the numbers above as well as the target price you are looking to negotiate for the car. also, use the lease calculation with those numbers to get an idea of what your payment should be, before you go in. also, bring the equation with you and a calculator so that you can plug the agreed upon numbers into it while you are there. good luck and i hope some of this was helpful! nicole |
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okay a friend of a friend of mine got a 2007 335i coupe its alpine white/coral red with: Walnut Trim 6MT Transmission Premium Package Sport Package Navigation Lease Term - 36 months (34 payments remaining) Lease Mileage - 10K per year Lease Payment - $629 including taxes car has 986 miles on it the thing is he is moving overseas.is it worth taking it over?
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Replying to: njfresh08 (Dec 12, 2007 12:24 am) |
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I got the following deal, please tell me whether it is a good deal or not? Do I have any room for negotiation? I have no clue as this is my first lease. Please help! BMW 328Xi sedan AWD with Premium package, Sport package with 8 way power seats and lumbar, 6 speed steptronic automatic transmission, heated front seats, ipod and usb adapter, logic 7 sound system with surround sound, Black sapphire metallic paint exterior, beige leather interior with burl walnut wood trim. MSRP-------------------------------------- 43,375 Selling price------------------------------$ 41,875 Acquisition fee------------------------- 625. Capital cost reductions-------------- zero Residual value--------------------------- 63% Money factor----------------------------- .00175 Lease term-------------------------------36 months Monthly payment (12k)---------------------- 525.23 Security deposit----------------------- 550. |
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Replying to: satishd (Dec 13, 2007 8:02 pm) bmw 328i sedan steptronic transmission metallic paint premium package sport package xenon lights heated seats and here are the lease terms that i am interested in: 12k - 15k miles 36-39 months $0 down I have figured the msrp to be $41,075. satishd, you got a great payment for a car that has a higher msrp than i do. i want the payment to be under $500 no matter what. but obviously i want the cheapest payment that i can get. so here's the deal, 1) what factors whould i start to haggle on, and 2) when is the best time to buy, i.e. with regards to money factor and residual etc.. thanks.
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What do you guys think. I'm not thrilled with the out of pocket. If I could get this payment with $3K out of pocket I think I would jump at it. Am I being too greedy? I don't think I can expect anything more off of the car. I think I would try and get the money factor down to possibly .00175. 2008 335xi Black Sapphire Metallic / Terra Cold Weather Premium Steptronic Nav Sirius iPod MSRP - $49,820 Selling price - $46,850 ($2970 off MSRP !!!) Residual (36 mo / 10K miles per mo) - 64% Money Factor - .0020 Monthly payment - $580 Total out of pocket - $3800 ($580 first payment + $600 security deposit + $1,514 tax + $625 acqui. fee + $125 doc fee + $270 registration + sup title fee $188 = $3,902 (he will round it down to $3,800))
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Replying to: jackals (Dec 15, 2007 1:27 pm) I don't know how much of those doc fees, registration and supplemental title fees are pure profit for the dealer. You might challenge him on those. The $625 acqui. fee is the lowest they'll try to charge, but it is also pure profit, I hear. I'd work more on the total of those up front fees. The ones I read about most often on forums are something called MACO and training fees, and they usually total between $400 and $500. The money factor is set by BMW Financial Services and can't go lower unless you pay multiple refundable security deposits. You can pay up to seven additional S.D.s. Each one will lower your money factor by .00007, but BMW will have $600 of your money for 3 years for each S.D. you pay. They're probably still a good deal, though, if you figure that you'll save about $5.50 a month for each SD that you give them, so you save $200 over the life of the loan for each $600 that you lend BMW, which is an 11% return on your money, I believe.
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Replying to: boomer23 (Dec 15, 2007 11:13 pm) |
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