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Prices Paid: Buying & Leasing Experiences BMW 3-Series Lease Questions
2426 messages, Last post on Aug 21, 2008 at 9:26 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: davidd3 (Jun 13, 2008 7:18 pm)
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Replying to: richz (Jun 13, 2008 7:32 pm) So automatic transmission is basically a free option then! I could not find this credit in Edmunds "Incentives and Rebates." Is there a place where I can substantiate this credit? I just want to make sure I know what I am talking about before I press dealers to apply all or some of this credit to lower their prices. I hesitate to negotiate price with dealers based on some amount above invoice, because the invoice amount I find in my internet research (e.g., Edmunds) always seems to be lower than what the dealer says is their invoice price. Instead I just get some offers and then play them off against each other. Eventually I start to see the lowest common denominator, or one dealer breaking away from the pack, as the case may be. Edmunds TMV for this car is about $1,400 below MSRP. The initial quotes I got are about $2,300 below MSRP. So I supposed that I might be off to a good start. No?
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Replying to: davidd3 (Jun 14, 2008 5:02 am)
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Replying to: richz (Jun 15, 2008 6:35 pm) I did. It's not clear to me that it applies to leases too, but I will certainly ask my dealers about this. Thanks for pointing this out.
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Replying to: davidd3 (Jun 15, 2008 7:33 pm) I just confirmed that this credit applies to leases. The above quote was in a recent post in another Edmunds forum describing a lease deal. Thanks again. |
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Okay so I'm currently a Junior in college and I graduate in May of 2010. I'm trying to do some research so that I can lease a BMW upon graduation with minimized stress.That being said, I am really confused about how to figure out lease prices. I have a couple of questions about college graduates and lease programs... 1. I understand that BMW does have a college lease program but I wondering how good does your credit have to be to qualify? 2. I called the dealership and asked if you can use MSD for a certified pre-owned vehicle and he said it would not make sense to and I was wondering if someone could explain to me why is this so? 3.Does anyone know which banks BMWFS uses to assess credit worthiness? Furthermore, I live in NJ and at the BMW dealership nearest to me is currently offering a 2008 328i with an auto tranny and heated seats for $299 a month for 24 months. This pricing is ideal for me since I would like to have a monthly payment that is between 300 and 400 dollars. That seems like a really good deal to me but I cant figure out how they come up with these deals. Thanks in advance any and all help is greatly appreciated.
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First offers from 2 preferred dealers were based on prices which were both about $2,300 below MSRP, which I thought was pretty good until someone in this forum was kind enough to tell me about the automatic transmission option credit. Automatic transmission is now a $1,325 option. So I emailed both dealers today asking about the option credit. Good news is that they both readily confirmed the credit. Bad news is that they both said they had already taken the option credit into account when they worked up their lease quotes. By my math, this makes the dealer discounts they offered only about $1,000. I called them on that. Eventually, one dealer moved $200 (i.e., $2,500 off MSRP) and the other dealer moved $400 (i.e., $2,700 off MSRP). The better price is coupled with a lower dealer fee too. They both made noises about how there is no more room for negotiation . . . The dealer who was less competitive on the 328i coupe tried to entice me with a 328i sedan instead, and it might just work. Quoted a lease payment of $588, based on a discount of $3,300 off MSRP, bank fee and sales tax (7.375%) rolled in, buy rate BMWFS lease program (lease program for sedan is better than lease program for coupe), paying at signing only first month payment, DMV fees, and $275 doc fee (which dealer refuses to waive but will roll into the monthly payment). Now that seems much more like it. Compare this $588 to same dealer's $671 lease quote for a similarly equipped 328i coupe. Now I'm thinking more seriously about going with the sedan instead. Problem is that it would be mentally tough to get another 3-sedan after deciding that a 3-coupe would be a nice change. |
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Replying to: mackeyvp (Jun 07, 2008 10:15 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: jordan1450 (Jun 16, 2008 7:05 pm)  . I had an Isuzu Amigo and then a Nissan Altima when I got out. If you have a good job and don't have a messed up credit history you should not have any trouble leasing a car through BMW Financial Services. I know that BMW FS obviously allows lessees to make MSDs on new BMWs, but I've never looked into whether this program is available on CPO vehicles. I suspect that it is, but I am not 100% certain. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Prices Paid: Buying & Leasing Experiences BMW 3-Series Lease Questions
