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Prices Paid: Buying & Leasing Experiences BMW 3-Series Lease Questions
2358 messages, Last post on Jul 05, 2008 at 2:44 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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I saw an ad in a local newspaper that says this dealer is offering new 2008 328 sedans for $31,888 and 3.9% financing for 60 months. Features listed are: Automatic transmission Remote keyless entry Sunroof Wood trim Alloy wheels Dynamic Stability Control So, it sounds like the only "option" is automatic and these cars would have unheated leatherette seats, non-metallic paint, no bluetooth and the basic stock radio. The ad says 7 are available at that price and it's in Northern California. I calculate: It would be about $34,700 after tax, license and doc fee. If I weren't going to put down any money and used their 3.9% financing, the monthly payment would be about $637 a month for 60 months. If I wanted payments under $500 a month, I'd need to put down about $7400 in cash and/or trade equity. I'll have to check with my insurance agent to find the latest insurance rates so I could calculate my total monthly costs. I'll also need to check on what I can expect to pay for tire replacements. At least the base tires should be less expensive than the Sport Package tires. I'm more likely to get a lower priced car than a new BMW, but I'm curious about this. Is there anything particularly fantastic about this advertised special or should there be better deals available now? Based on this selling price of $31888 and MSRP $34450, what should a 36 month, 45K lease cost monthly with $0 cap reduction and about $3000 available to use towards startup costs and extra security deposits? Do the dealers often lease at the base rate or do they always mark up the rate (and is there any limit of how high they could mark up the lease rate)? If I could lease much better equipped model (i.e. Premium Package, Comfort Access, Bluetooth, Logic7,iPod adapter/HD radio, heated seats, metallic paint etc.) for 15K/year for under $475 month payment (before tax) with less than $3000 cash to start, it will be much more tempting to consider than the scenario of $7400 down for a very stripped model on a 60 month purchase and then either selling before the 50000 mile warranty expires or keeping it for around 7 years and risking repairs but having a couple of payment free years before moving to the next car. |
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Replying to: Car_man (May 01, 2008 2:23 am)
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Replying to: runnin1023 (May 11, 2008 7:40 pm)  Essentially money factor is your interest rate and residual is how much the car is worth at lease-end. Leasing is more than just monthly payments and down payments. NEVER negotiate down payments and monthly payments, you will typically lose out on a lot of money. $20 per month is usually around $1000 difference over the life of the loan. My best advice, educate yourself, learn how to calculate your own lease payments so there are no surprises. Also learn what types of fees are legit and which are bogus. Dealers have a lot of ways to make money off you, so you need to know which they are and how to reduce your losses. |
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| Anyone have access to the leasing terms in effect for May 2008 for the 335i convertible. I thought that BMW had tried to discourage all leases over 36 months, but just heard about a 42 month program with a 50% residual and .195% money factor. All information is greatly appreciated. Bob | |
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Hi, does anyone know the new May residual and money factor rates (after 5-6-2008) for BMW 328i and 335i sedans? Thanks!
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Replying to: loveandlight (May 12, 2008 9:42 pm) Here is the copy of the numbers that you have requested from there: 2008 BMW 328i Sedan 24 Month – Residual 66% of MSRP – .00175 Base Rate 36 Month – Residual 56% of MSRP – .00175 Base Rate 48 Month – Residual 40% of MSRP – .00258 Base Rate 60 Month – Residual 33% of MSRP – .00258 Base Rate 2008 BMW 335i Sedan 24 Month – Residual 66% of MSRP – .00200 Base Rate 36 Month – Residual 56% of MSRP – .00200 Base Rate 48 Month – Residual 40% of MSRP – .00258 Base Rate 60 Month – Residual 33% of MSRP – .00258 Base Rate
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Hi, Here are the details on the lease offer I am getting from my local dealer in Southern California, any feedback will be appreciated. Thanks... 2008 335i Sedan 36months lease 15k miles: Options listed below: Steptronic Premium Package Sports Package Cold Weather Package Paddle Shifters Comfort Access Park Distance Navigation Ipod Metallic MSRP: 50,125 European Delivery Selling: 44,650 (How much are they suppose to drop on eurpean?) Destination and handling: 775.00 MF: 2.75 (what exactly is money factor and how does it work on leases?) Residual factor: 61% (30,576.25) (I thought this was high compared to leasecompare.com 56%, is the residual negotiated later at the end of lease or is it set final now) Liscense and Reg: 388.75 Doc fee: 45.00 Bank fee: 825.00 Drive off: $5000 Monthly payments: 509.89 + tax = $551.96 This is my first lease, any comments or feedback will be useful to me and greatly appreciated. |
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Replying to: skobola (May 12, 2008 10:33 pm)
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I'm trying to lease a new 328i coupe with no real expensive options other than navigation...I'm having a real tough time getting good quotes..I think the cheapest I got so far was 600 including tax, 12k miles, 36 mo and 1k down... What can i do to get a cheaper monthly lease rate because I still believe that this is really expensive for a basic 3 series..I live in CA..thanks for your help in advance!! |
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