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Prices Paid: Buying & Leasing Experiences BMW 3-Series Lease Questions
3218 messages, Last post on Dec 03, 2009 at 7:31 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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received this from dealer: "It is obvious you have access to BMW FS bulletins, listing the rates and residuals. You are also aware that I cannot actually contract a client above the .0040 basis point max markup. If you look at the bulletin effective dates, you will notice that it expired 1/2/08, the new bulletin I am allowed to contract by BMW FS to use expires 1/31/08, so the rates and residuals that I have sent you by email expire today. An itemized breakdown is below. Sales Price=$36,500 MSRP=$38,250 Residual=61% or $22185.00 Oklahoma Excise tax of 3.25% or $1186.25 Reg fees $90.75 Title fee $11 Inspection $21.75 Documentary fee $50 Security Deposit=$500 The total for fees and SD are $1859.75. Your $3000 will account for $1959.75, first payment of $499.93 and will actually put $540.32 towards the cap cost. One more item if we used the Money factor of .00205 and an residual of 58% your payment would actually increase by $23. This is due to the decrease residual." Note: I believe he used MF of .00215. I had them itemize the deal I posted from above and this is what I got. Is the MF still too high?
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Replying to: companyman21 (Jan 31, 2008 1:22 pm) Also, I've read on another site that the February rates will be the same as the January rates, so his pressure to sign today is bogus (unless you are leasing a 2007 car, 2007 rates end today. But the 2007 rates were lower). Also, the residual amount is set solidly by BMW and only varies based on your contracted miles per year. The dealer shouldn't be able to adjust the residual. Notice that you're still putting $540 towards the cap cost. I wouldn't do that. I'd tell him that he should reduce the cap cost by that amount and you'll keep your $540. If you're feeling uncomfortable about the inflated rates, down payment, etc, find another dealer, if you have them available. It might be worth driving 50 miles to get a better deal. |
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I understand that you can reduce mf by .00015 for each $400 security deposit paid up front. I am planning on trading in my wife's car, for which I owe $4,900. I am planning on getting $7,000 on trade. I live in WA, where I do not have to pay sales tax on the value of trade. Does anyone know if I can take the difference between what I owe and what the dealer gives me and apply it toward security deposits, rather than cap reduction? With 5 security deposits, my payment would be about the same, but I would get the 2k back at the end of the lease. Am I thinking in the right direction?
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I have seen 2 different mf for the 328i on this forum, .00175 and .00165. Recent offers from dealers are quoting .00175. Are they increasing the rate or is this the best BMW lease rate available?
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Replying to: hopefall (Jan 31, 2008 8:27 pm) |
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Replying to: hopefall (Jan 31, 2008 6:34 pm) On your ability to use the cash from your trade for SDs rather than down payment, I would say absolutely. You should be able to craft the deal that you want. That cash is yours if they'll give you the $7K for the trade. You should be able to pocket it, use it for a down, or use it for SDs. Anyone disagree? |
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I'm working with a local dealer on a 328i, and was wondering if anyone could provide some feedback. I'm looking at a fairly basic, 328i w/ auto and heated seats. I am hoping to get 1k over invoice or better. Is this unrealistic with this type of configuration? Anyone have any luck getting under 1k over invoice? It seems they're more likely to discount cars that are more equipped.
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Replying to: hopefall (Feb 02, 2008 10:06 pm) |
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Just got into a lease and wanted some thoughts. 328i sedan 6sp/sport/prem/ipod/heated seats/ MSRP $38,900 $3,500 down (includes IL taxes. IL requires you to pay taxes on total value of vehicle when leasing) Payment $489/month 15K yr 36 months thoughts? thanks Andy |
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I got four quotes from a local dealers in LA area. I appreciate if the experts here can give me feedback. 2008 BMW 355i coupe - Fully Loaded (Auto + Premium + Sports + Nav + iPod/ USB + Park Distance + Paddle Shifter) - White paint w/ Saddle Brown/ Black interior Invoice Base price: $40,800 Pkgs./ Options : $8,650 MSRP : $49,450 Selling Price : $47,085 ($560 more than dealer cost for training, MACO fees. Dealer claims only $1,000 over his cost of $46,085) Drive off Cost : $1,855.23 (see breakdown detail below) DMV Fee : $45 Bank/ Acquisition Fee : $625 Tax on Bank fee : $55.27 1st Payment : $726.21 Deposit : None 36 mo. 10K lease at : $726.21/ month Money Factor : 0.0026 (w/o security deposit - 0.00245 w/ security deposit) through BMW FS I have done the math and lease numbers above do work out. However, I want to lower my monthly payment closer to $650 range. The questions I have : 1. Is this a fair deal given the car being so hot in LA area now that no dealer has a good inventory? (I have to order mine and wait). Has anyone found a better deal with similar car recently around here? 2. What other options I have to lower the money factor rather than paying multiple security deposits (which I can if I need to)? 3. How many multiple security deposits are needed to bring it closer to $650/ mo. range? Is all of this money refundable at the end of the lease? Is there a risk involved with putting that much money in the hand of the lessor who may start acting up at the end of the lease? Thanks a million for any feedback/ advice in advance. |
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