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Prices Paid: Buying & Leasing Experiences BMW 5-Series Lease Questions
2604 messages, Last post on Dec 04, 2009 at 7:18 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Carman, corsche or other Lease-guru This forum has been great for me to figure out the science of a competitive lease contract. While I have all the elements to negotiate good numbers, the dealer went into hibernation after I challenged his first and completely nontransparent back of an envelope "scenarios". The car is meanwhile produced and "awaiting transport", expected to be here end of February, beginning of March. I am confused as to when which MF rates get locked in (his proposal is based on .00205 while the published rate is .0015). - when does a lease normally get signed? Apparently not when you place the order. - what information gets shared or negotiated? (assuming it is similar to financing re paperwork and disclosures) - How far away can a dealer stray from the "published MF and residual values)? This is the strangest business process I have experienced in a long time. Any insight is very much appreciated! I don't want to get snowed forever and then not having any other options or leverage with my back to the wall. Thanks guys, Lsmb
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| I have a 2006 BMW 525i with COLD WEATHER PKG., PREMIUM PKG., WOOD TRIM, XENON HEADLIGHTS, ADAPTIVE HEAD LIGHT CONTROl Excellent Condition and only 16,200 miles. I want to exit my lease early and the dealer here in Minnesota is telling me they will only give $36,000. The total payoff is $39,500. Does the dealer offer seem realistic? | |
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Replying to: lsmb (Jan 28, 2007 10:30 am) I do not know why the dealer will not give you the buy rate of .0015(you should get that as long as you give a security deposit). With the security deposit waived the rate should go to .00165 unless you are a returning BMWFS customer. As for locking in the rate the dealer can lock in the current months rates for 60 days(you need to ask them to do it) and if the rate get better you can benefit. This should give you enough time for the car to arrive. I did the same thing in December with my 550i and it is due to arrive on 2/10. You complete the deal when the car arrives, you inspect it and finalize the paperwork. The dealers finance department should share all the details with you including money factor, residual, acqusition fee, security deposit, etc. before you sign for the car. I hope that helps. Corshce
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Replying to: corsche (Jan 27, 2007 8:36 am) I appreciate your help!,many thanks... pdurnian
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Hi this is EDDIE, I recently received a sum of money which I could pay off about 50 to 60 percent of the total debt that I have. So my questions are should I pay off my debt first before applying to BMWFS. My credit score is around 650 and it would surely go up to around 680 in about 2-3 weeks after I make the payment. Will it affect the money factor or negotiating options that I might have from a dealer if I have a better credit when I go to lease the car because I really want to lease either 335i, 525i, or 530i ASAP. Thank you so much, any replies appreciated
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Replying to: pdurnian (Jan 29, 2007 10:11 pm) The rules of the forum does not allow for me to post their web address, but if you google Pacific BMW and go to their website there is a link on the home page for Internet sales department. Good luck. |
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Replying to: boorapper (Jan 30, 2007 1:08 am) |
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| I know it is $625, but when one is negotiating with the salesperson and comes to an agreed upon price, does this include the $625 acquisition fee, or is that extra? | |
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Looks like MF's and Residuals went up across the board for the February Lease offers 
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Replying to: corsche (Jan 29, 2007 5:08 pm) thanks for the insights. I made some progress by escalating it up the chain and have at least now all his (new) deal elements. I think they tried to make up for what they gave up in the sales price negotiation by snowing me with the lease deal. The calculator I shared with you earlier was extremely helpful, since it exposed the whole calculation within cents. (Learned also how security deposit gets calculated: first payment rounded up to the next $50, in my case $700). Without ever admitting to it, he now changed the MF from .00205 to .0019, a step in the right direction, which he claims is the current "BMW sales support rate". Interestingly enough this rate gives me the same results as the bmwusa website's payment calculator, on the basis of which I started my negotiations before seeing this forum and the .0015 MF) He now claims that he was unaware that I was trying to negotiate the lease (after a 3 weeks email trail...), which is baloney. At the time of sale, he provided me with a handwritten note on two scenarios to which I never agreed, since they were far beyond "rounding errors" he claimed to be the difference. He also said that the MF was non negotiable within the BMW system, I would get the best rate automatically. Apparently all not true. Do you have any arguments for me, why he "needs" to give me a lower MF at this stage? Other than just begging. Or do I have to cut my losses at this point of little leverage? Thanks again, Lsmb
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