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Prices Paid: Buying & Leasing Experiences BMW 5-Series Lease Questions
2005 messages, Last post on Oct 06, 2008 at 9:50 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: car_rm (Mar 21, 2008 9:56 pm) OP: be careful about checking the numbers when you go to do the deal. I wasn't feeling well on the day I picked up my car and although the numbers were slightly off from what I had been figuring out, I signed anyway since the other key components were correct. Looks like they marked up the MF about .00033 from what I was originally quoted when I placed the order. You will notice that the MF doesn't show up on any of the paperwork you sign. I'm thinking about contacting my dealer to discuss although I realize I should just remember not to sign deals on days when you have the flu. It's a $850 lesson for me. Not sure if they were trying to rip me off or if it was an honest mistake on their part. |
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Does BMW use an unusual formula for calculating lease payments? I have been dealing with two different dealerships in Massachusetts. Both have given me the residual and the money factor they purport to be using, but the monthly lease payments seem higher than they should be. I am proposing to lease a 2008 535xi for 36 months, with a 15,000 mile allowance (12,000 would be fine, too). The car would have to be ordered. With options, the MSRP is $58,770. Invoice is $54,070, and I offered $2,000 over invoice, or $56,070, with no money down and $400 to cover tags, title and everything else they want to charge me for (this is slightly more than what one of the dealers said it would charge). I think this is a fair deal. Massachusetts tax is 5%. One dealership offered 63% residual (I thought the March rate was 60%) and MF of 0.0019. It calculated a monthly payment of $865.50. With the dealer's numbers, the imputed price they are offering would seem to be above MSRP. The other dealership offered 67% residual (on a 30 or 36 month lease; its quote is not clear), a MF of 0.0019 and calculated a monthly payment of $855.66. I calculate $741.20 based on my offer (monthly depreciation of $529.03, finance charges of $176.88 and tax of $35.30). I calculate the finance charge as = (negotiated price + residual value) * MF. I used the same methodology with an Infiniti dealer, and our numbers matched almost exactly (within a few pennies). Any advice or suggestions? One question I have is how the mileage allowance (12,000 vs. 15,000) affects these calculations. Thanks for any help!
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Replying to: zambiandoc (Feb 15, 2008 1:35 pm) |
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Hi all, I just got the following lease deal in CT (picking car up Tuesday!) 08 528xi (w/ Nav, cold, premium pkg.) MSRP: $52,225 sales price: $49,245 MF: .00190 upfront payment: $5000 ($3560 cash cap reduction, 1st mo pymt, doc fee, reg, security) 30 mo. lease, 10k miles yr monthly payment: $489 + tax It looks like the sales price is very close to invoice. Does anyone think this is a good deal?
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Replying to: slrussd (Mar 23, 2008 4:54 am) Your payment is low because you are making the down payment. 
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Hi all, thanks for your expert opinions in advance, please let me know if this quote make sense: Location: San Francisco MSRP: $54,950 Existing BMW Financial customer Dealer gave me the first quote that looks like this: 24 month, $812.55/m (tax included) with $1,280.13 drive off (we pay $1,000 for you, your balance is $280.13). 24 month, $733.63/m (tax included) with $3,000 drive off (we pay $1,000 for you, your balance is $2,000). Then I said I already have another quote (not quite yet) and told him not to waste time and just be upfront, then I got this: 24 month, 76% Residual, 10k mi/yr, $1177.36 drive off, $718.78/m (tax 8.5% included). Should I go for this or should I continue shopping! Thanks again!
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Replying to: econ101 (Mar 25, 2008 5:56 pm) There is not enough information here - what is the negotiated selling price of the car, money factor that they are using? You also need to know the lease acquisition fee ($625 or $825). You can reduce the money factor by .00015 if you pay the security fee. Car_rm
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Replying to: car_rm (Mar 25, 2008 7:31 pm) |
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In the past, CarMan was incredibly helpful to me. Thanks to him and Pacific BMW in Glendale, I had a quick, easy, efficient leasing experience on my 530i. The BMW performs well, but the company is behind the curve with its I-Drive and antiquated navigation system. Still, I'm actually considering 535i, because it resolved some key 530i problems (somewhat better NAV w/integrated live traffic; memory buttons for radio and AM-FM-satellite band-switching; voice recognition that actually works--I'm told). Mileage worse than Lexus GS350 with more value, but lease terms not so great, and BMW has free maintenance (w/brakes!). Still prefer NAV and other user friendly items on Lexus, Infiniti and other alternatives I'm exploring. As long as I can avoid my local dealer here in Calabasas (So Calif), I may give BMW another chance! Questions-- (1) Given the slowness of the auto market, how close to invoice does 530i go? (2) Does BMW offer financing deals, or just leasing deals? (3) Other than premium, sports, comfort access, navigation, sirius satellite radio, does anyone reading this recommend any options ...especially if they are perosonally familiar with them? If I go beyond the above, I must special order: (4) Are head-up display and night vision use mere toys or useful? (Seems odd that night vision visible only in NAV system.) (5) Is rear door side impact airbag safe, or a threat to kids? (6) power rear &manual side sunshades worth the money to keep the kids happy? (7) any other options truly worthwhile and worth the money? (8) Last time, I did 24 mo, cheaper per mo than 36. Now, 36 slightly higher. I still think 24 mo, to save buying 4 costly fun-flat tires. (8a) FINALLY -- does anyone know what the Money Factor will be for 535i for APRIL for 12000, 24mo, 36 mo, and, possibly for 15000. If I go BMW, I could buy/lease Mon/3-31 or wait until Tues/4-1, if MF different. (8b) IF I special order, due to other items, I'd use March MF or June MF, whichever is lower. My guess is June MF would be lower. Thoughts?
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