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Prices Paid: Buying & Leasing Experiences BMW 3-Series Lease Questions
2453 messages, Last post on Sep 04, 2008 at 11:35 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Lease Experts, I hear on these posts from experts and others that you should not put money down on a lease other than deposit, first month payment and fees and my trade which is less than the amount due at signing. How do you not put more money down? Thanks
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Replying to: diye (Nov 20, 2005 9:51 pm) If it's a factory demo, as you seem to indicate, then they don't own it like a new car. They would have bought it from BMW as if it was a used car auction. Of course, the car's never been titled, so it's sort of in a weird state between new and used (but technically used). My point is that they don't necessarily own it for "invoice" and they wouldn't have any of the dealer cash money apply to it, since it isn't a new car. What I'm trying to say is that they don't own the car for "Invoice - $1500". The other thing I wanted to say was that they are not necessarily eager to get rid of it, as you seem to indicate.... It might say "demo", but since they bought it from BMW for their used car lot, it's just like any other used car as far as they're concerned. |
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Replying to: kyfdx (Oct 22, 2005 7:58 am) Thanks for the info. Just one more question : are MF lower at certain times during the year ? I mean, would I be better off during Dec or early Jan ? Thanks again.
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Replying to: fer1 (Nov 21, 2005 4:19 pm) I'm really generalizing here, and there are probably dozens of exceptions to this.... but, all things being equal, that is when I see the best lease deals.. That said, I'm picking up a new lease for my wife on Friday... so, what do I know?  regards, kyfdx Host-Prices Paid Forums
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Well I did it...I just finished the lease on a new jet black 325i with leatherette beige interior. Here are the specifics... MSRP-$32,945 Selling price-$31,210 Acquisition Fee-$625(rolled into cap cost) Security Deposit-$500 Money factor - 0.0025 DMV fee-$265 Tire tax-$8.75 Residual-62% or $20,425.90 36 months and 15,000 miles per year Pretax payment-$447.57 After tax payment (assuming 8.25%)-$484.49 Drive off payment-$1,258.24 (first month payment, security deposit, dmv fee and tire tax) I think I got a good deal...and it is all thanks to Carman and Kyfdx! Thanks a bunch guys. Also, you may remember I thought I may have credit issues. Remember I recently checked my credit and noticed a false collections account? (this artifically lowered my FICO to approx. 650) I notified the internet sales manager ahead of time. I was approved, much to my surprise. I asked the internet sales manager what they look for in the credit approval process, and he said it is primarily the debt ratio of the person. They try to see what his/her income is versus any mortgage payments, other fixed costs, etc. The FICO does matter, but unless it is extremely low, then it is not an automatic cancellation. FYI, during the "document process" with the Finance manager, he "forgot" to put the 45,000 miles I wanted...instead putting only 30,000 miles total! When I pointed this out (luckily I was going through it carefully) he said something about the computer screen not showing the right number...whatever. Charles
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Replying to: Car_man (Aug 31, 2005 3:10 am) I wanted to lease a new 2005 325ci convertible. It's automatic, silver with gray interior, has both Premium and Sports packages, black soft top, aluminum brushed trims, heated front seats, xenon lights. The dealer claimed the MSRP was $46K, that his wholesale cost was $43000, and the price he was giving me would be $42808. We agreed to $3000 total down (incl. taxes, 1st payment, some other fees) and 35 payments of $469 per month, at 12,000 miles per year. However, when I told him about the $1500 to $2000 dealer incentive on the 2005's and told him to deduct that from the price, he basically said no and I walked out. His story was that it was a dealer's and not a customer rebate, that it didn't matter, that he already had cut the MSRP way down. The sales agreement I was about to sign had the residual at $28888, price at $42808. The monthly payment of $469 seems really good to me, but his numbers seem inflated (i.e., higher than the numbers I saw on CarsDirect with those options) and his hard sell techniques were irritating. Did I stupidly pass up a real good lease deal? I love the car, the other dealers seemed unwilling to match or beat those terms I got from this dealer -- should I crawl back and get it anyway? Thank you for the advice.
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Replying to: Car_man (Aug 31, 2005 3:10 am) |
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Replying to: kyfdx (Nov 19, 2005 2:32 pm) 2005 330Ci Convertible $0 down, 36 Mos., 30,000 mi MSRP: $49,670 Discount: -$ 4,170 Aquisition: +$ 625 (rolled in) Total Cap. Cost: $46,125 Residual (64%): $31,789 Money Factor: .00100 Payment: $476.14/Mo. (before sales tax) I tried really, really hard to get them down to the .00075 money factor, but they wouldn't budge. Since I am an existing BMWFS lease customer they waived the security deposit as well as the $350 disposition fee on the car I'm turning in. Note: This was the LAST 2005 330Cic I was able to locate in a 5 state region. Also, it had a little less than 2000 miles on it (the dealer's wife was driving it.) All in all, leasing a 50K european convertible for less than $500/mo., $0 down has to be good deal. Thanks again! |
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Replying to: kyfdx (Nov 21, 2005 6:11 pm) If a lock in a rate this month but the car needs to be ordered and it's on the dealer by January 06 could I choose which MF is applied ? (Nov 05 or Jan 06) Thanks again.
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Replying to: tranw (Nov 22, 2005 5:36 am) I don't have the exact figures, but I think that puts his invoice right around $43,300... Considering that $42,800 is $500 under that, that only leaves him $1000 after taking into account the $1500 incentive on the 325Cic.. I don't know your tax rate, or how that $3K upfront is broken down, but with $42,800 as the cap cost, the payment would be about $459/mo.+tax.. Your deal.. $469 1st payment $500 security deposit $625 acquisition fee $300 title/license/plates About $1900 total.. so, $1100 extra in there (more or less).. but, then again, we haven't accounted for tax, and his payment is only $10/mo. higher than this one... If his MSRP is indeed $46,595 (this shouldn't be hard to check.. maybe some options he didn't list), then he gave you a pretty good offer... I don't really see where he has any more room to come down on the selling price... most dealers won't take a "mini" deal on a 3-series convertible... It seems probable that he is using the base money factor as well.. The details are important.. I'd want to know how much of the deal is sales tax, and how that $3K upfront is broken down... regards, kyfdx Host-Prices Paid Forums |
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