Last post on Dec 06, 2013 at 10:50 AM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW, Car Leasing, Sedan, Wagon
#4975 of 5617 Review this lease deal!
Mar 18, 2013 (12:03 pm)
'13 F30 328i
Jet Black + Black Leatherette + Lightning Package
Negotiated Price: $36,645 (500 over invoice)
$1000 3 Series Sedan Incentive
Base Payment: $387.85
Total Payment $415.00 (Tax included 7% FL)
Total Due Signing: $653.76 for Registration etc all fees includes the 1st month payment.
Also thinking of doing the Multiple Security Deposits which he told me would be $2,800 total for all 7 and would drop the payments from $415.00 tax included to $389.74 tax included...
#4976 of 5617 Please help me on this 328i
Mar 18, 2013 (8:37 pm)
Been lurking here for the past month or so. New to leasing , New to BMW, Plz help.
I kinda know what I need to know for leasing, but have some questions:
1. I sent an email quote and was quoted a 1.3 money factor, which translate to a 3.12% interest rate. From what i read, this is the "base rate". My question is - is this the lowest that BMW can go? The reason is, i see ads that'll say 0% interest/apr or 1.99% interest (granted they are for purchases), but does it matter?
2. Bottomline - > if the dealer quotes me 1.3 money factor, i'm getting the best deal for the MF right?
3. I am looking at a dealer's website's inventory and they have 328i with SULEV and some with no SULEV after its name, from what I can find, SULEV is worse engine right? btw I live in S. California
4. Here's the main question: I am looking for a BASE model 328i 4dr no options no packages no accessories, no moon roof no nav, no nothing. Lease for 24 months (i know 36 is better, but leave that for a moment) and 0 down.
Per Edmunds' invoice price, it should be 33,900 (MSRP 36850). correct me if i'm wrong.
I emailed for a quote and they came back with one, but they gave me one that has sunroof in it. That doesn't matter right now, what I want to know is, how to understand its breakdown. If car_guy or others can give me some advice that will be AWESOME!
Here's the breakdown and questions underlined:
Term 24 Months
Money Factor 1.3 (Is this the best rate i can get?)
Residual Factor 69% Is this the best i can get?
Moonroof and Destination $1050 +895
Selling Price $36,310.00
Bank Fee $925.00 WHAT IS THIS BANK FEE??
Total Capitalized Cost $37,235.00
Residual Value $26,768.55
Total Depreciation $10,473.79 Is the math fishy here..$37325-$26768.55+$7.34
Capital Reduction ($7.34) What is this? Is this a credit or a debit for me? help or hurt?
Monthly Depreciation $436.41
Monthly Rent $83.21 (math works out)
Monthly Payment $519.62
Tax (8%) $41.57
Monthly Payment + Tax $561.19
Capital Reduction ($7.34) What is this again? does it hurt me or help me? where's it from?
Cap Reduction Tax (8%) $6.40 What is this? never hurt of it. Help or hurt me?
License & Registration $359.75 Is this fair?
Documentation Fee $80.00 Is this fair? Is this negotiable/waivable?
First Payment $561.19
Security Deposit $0.00
THANK YOU SO MUCH!
#4977 of 5617 Re: Please help me on this 328i [darbebo]
Mar 18, 2013 (9:09 pm)
You are on the right track. Thank you for posting in so much detail as it makes it easier to help you. You can see that the poster right above is paying $415/mo with $653.76 due at signing compared to your $561/mo with over $1000 due at signing. It appears that your money factor and residual are accurate. I don't know about the license and registration since you didn't mention the state. You are way overpaying for the car. Your selling price is $36,310 while the poster above you only paid $34,395 (though he may have had some incentives that you are not eligible for). The bank fee is an acquisition that is standard on all leases.
#4978 of 5617 Re: Please help me on this 328i [paperboyccc]
Mar 19, 2013 (5:26 am)
Thank you for your feedback so far. I live in S.california.
So hopefully someone can point out what this "Capital Reduction ($7.34)" is and if it hurts and help me.
So at this point if i were to negotiate, what exactly should i call the dealer out on? like should i say hey, everything's good, but we need to negotiate further down on the selling price?
where's the fighting ground? What should i be demanding?
#4979 of 5617 Urgent help needed!
Mar 20, 2013 (9:28 am)
Ok, here's what i got for a quote for bmw 328i 4dr NO options (no moonroof/nav at all) quote from dealer, i need help ASAP!!!
MSRP 37745Trucar Invoice: 35395, Edmunds' TMV invoice: $34795 ($33000+$895 destination)
Selling price 35405 (i strongly believe including destination already)
Customer leasing incentive $1000 (No USAA or loyalty bonus)
Net Cap: $34405 (math:$35405-$1000)
24month lease with 12k/year
0 Down, 0 security deposit
Residual % 68%
Residual Value: $25666.6 (Math:$37745 * 0.68)
Depreciation: $8738.4 (Math: 34405-25666.6)
Monthly Depreciation Charge: $364.1 (Math: 8738.4/24)
Monthly Rent/Finance charge: $78.09 =>Math: (34405+25666.6)*0.0013
Monthly payment (exclude tax of course) = $442.19 (math: 364.1+78.09)
Total fees due signing:
First month payment: 442.19 + Tax
License and regis: 327
Doc fee 80
Bank fee 725
Capital Reduction tax: $144 approx
Qusetion: if my tax rate is 9% and it's based off of the $1000 customer incentive, how come the tax is so high?
TOTAL: 1718.19 +1st month payment's tax
So all in all, assuming Truecar's invoice is correct, at 35395, selling price (after $1000 deduc) is $34405, and MSRP $37745, that's a bit over 8.5% less than MSRP (Math: 37745*0.915) and roughly 1k below invoice!
Then HERE is where I need your help: is this good?
Please only compare this with other 24 month leases! THANK YOU
#4980 of 5617 Re: Urgent help needed! [darbebo]
Mar 20, 2013 (6:57 am)
Why are you doing 24 months? It seems like alot, look at my post above.
Seems like alot compared to my deal even without the Incentives I had....
With no options your MSRP is 37,745. Invoice is 35,325 with all fees included.
I strongly suggest you get the lightning package as bare minimum for $900, it's a world of difference and the only must-have option IMO.
#4981 of 5617 Re: Urgent help needed! [kromix]
Mar 20, 2013 (7:06 am)
Ur right in that 36 is bettre. But my personal situation calls for 24 due to having a baby soon n would need to get out in 24.
And I didnt shoot for any options is cuz I want to reduce any additional expenses. Even that 900is a lot.
So can u gus please re evaluate based on my current deal?
Am I right to think that I really got 8.5% beloe msrp??
#4982 of 5617 Wheel & Tire Protection
Mar 20, 2013 (7:56 pm)
I just leased a 2013 328i xdrive (36 months). Monthly payments came out to $458/ month including taxes (NJ - 7%), a little less than $2k out of pocket for first payment and fees. MSRP was $45,645, selling price $41,145, MF .0013, Residual 62% (12k per year). I also ended up adding the Wheel & Tire Protection for $1,300. This brought my monthly to $506, an increase of $48 per month. Is the wheel and tire protection worth it (I have run flats)? Can I still cancel it if I decide I don't want it?
Thanks in advance for your responses.
#4983 of 5617 How to fully evaluate a deal?
Mar 21, 2013 (6:23 am)
Ok, here's the 2deals, both for leasing 24 months, 12k miles /year, 0 down, 0 deposit, bmw 328i with NO options (no moonroofs no nav no nothing)
443+35.44tax = 478.44 per month
Total due signing = 478.44 + fees (bank/doc/L&R) = approx $1754 due signing
Overall $ spent on life of the loan = (478.44 * 23) + 1754 = $12758.12 approx
$537.35 (ALREADY include tax) per month
0 due signing, all tax, fees, 1st month payment covered
Overall $ spent on life of the loan = 537.35*23 = 12359.05
So if you look at it like this, the second deal is better, so here's the questions:
1. Different dealers use different spreadsheets/terminologies/systems to provide the screenshot of their worksheet, so it's really hard to compare apples to apples without spending a lot of time. If I use the above ways and evaluate the deals based on the "total cost" in the end, is this better?
2. Seeing that the deal #2 saves me approx $400, is deal #2 a REALLY good deal or do you think I can get better if i physically sit down and haggle? The internet sales mgr typically don't give out their lowest.
3. IF i say 0 due signing and $525 INCLUDING TAX for the remaining 23 payments, is this an unrealistic offer?
I realize the down side of comparing deals like this is that you don't know if you are asking too little or too much.
#4984 of 5617 Re: Wheel & Tire Protection [jaytee1220]
Mar 21, 2013 (2:41 pm)
Good deal but pass on the tire protection package. That's a fortune.