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BMW 5 Series, Car Leasing, Sedan, Wagon
#2045 of 3911 2006 BMW 5 lease
Nov 19, 2008 (12:17 pm)
If you wanted to lease a CPO 2006 5 Series Sedan (for arguments sake, one with a $50,000 MSRP), what would it cost? According to this forum in the fall of 2005, the residual would be 59-60% at this point. If I wanted a 3yr/36k lease, what would I be looking at? How much residual would there be for years 4-6? With the current market, aren't used cars worth even less they thought they would be at this point? I am trying to decide whether to get a 2009 Accord EX V6, 2009 Nissan Altima 3.5 SL, or the 2006 BMW 5 Series (a little more curb appeal). I live in northern NJ.
#2046 of 3911 Re: 2006 BMW 5 lease [goody59]
Nov 19, 2008 (2:12 pm)
add the 09 maxima sv with premium package to your list and check it out. It's a boutique with stones on wheels. Great deals too. there are 10 certified 5 series 06 on ebay from 30-35k. 20-45k miles. the maxima sv lists out at 37 but you can get them here for 1-2k under invoice or 32-33. They also have a sport package with firmer handling.
#2047 of 3911 Re: Lease end questions [jayrider]
Nov 19, 2008 (2:45 pm)
You're right jayrider - whether I buy the car or not, I'm clearly way, way better off than I would have been had I purchased this car instead of leased it.
Smithsonga - I'm not "stuck" with the 535 lease - I want it. I'm considering keeping the 2005 330Cic as an extra car. $25,700 for a CPO car with 3.9% financing is pretty darned attractive. Non cpo cars are selling for about the same price on ebaymotors and don't come with 3.9% financing.
#2048 of 3911 2008 535iX Lease Deal
Nov 19, 2008 (3:23 pm)
O.K. Here's the lease deal I was able to work out on a 2008 535iX. I take delivery on Friday. I've leased 5 BMW's in the last 9 years and I can tell you that BMW dealers are the toughest out there. You have work these guys really, really hard over a couple of weeks to get the right deal. It's absolutely necessary that you make them compete against each other.
The car is equipped as follows:
Cold Weather Package
Fold Down Rear Seats
Parking Distance Control
The MSRP is $57,395.
I negotiated a sales price of $51,075
(a discount of $6,320 or 11% off the MSRP. The guy on this forum who says you can get free premium package AND a 15% discount is delusional)
To this was added $725 Acquisition Fee and a $299 D & H Fee
Total Cap. Cost: $52,099
Down Payment: $0
Term: 36 mos
Money Factor: .00125
Payment: $629.23 (Before Sales Tax)
Security Deposit: Waived
I tried really hard to get them to lower the MF to the buy rate of .00115, to no avail. The other dealers in the area were were quoting .00135 or .00150 and I couldn't get them to budge. For some reason it's easier to get them to lower the price than the MF. (Maybe the finance guys make money on this part?)
In any event, I wanted to lower the payment a bit, so I decided to take advantage of BMW's multiple security deposit offer. Here's the way it works: For each refundable security deposit you post, up to a maximum of 7, they lower the Money Factor by .00007. This actually works out to be a pretty good deal. I decided to post 3, for a total of $1,950 ($650 X 3). This lowered my MF to .00104, which lowered my payment from $629.23 to $611.30, a monthly savings of $17.93 or $215.16 per year. This represents an 11% rate of return on my $1950 investment - about 10% better than I'm getting leaving it in the bank!
Finally, I'll get a check from the BMW Car Club of America for $1,000. For those who don't know, if you're a member in good standing for at least 12 month prior to the time you purchase or lease a new BMW you're entitled to this rebate. It costs just $40/ year to belong. Everyone should take advantage of this.
#2049 of 3911 Re: 2008 535iX Lease Deal [jvost]
Nov 19, 2008 (4:50 pm)
The best post I have ever read re negotiating a lease. Don't think I'll go with a bmw in three years but if I do I'll be looking for your posts in november of 2010. Heck, I'll be looking for your posts no matter what I do. jvost.
Nov 20, 2008 (1:56 pm)
Guys, here's a deal I just heard of at a dealer in Westcheseter County, NY:
Stk#91141 VIN#C153134 2009 528i xDrive Sedan
Jet Black/Black Leatherette. Auto, Power Seats, Heated Seats, iPod/USB adapter, BMW assist w/ Bluetooth, Sunroof.
MSRP$49,425. $2,500 down pymt+$725 bank fee+$550 sec. dep.+$525 1st payment = $4,300 due at signing + T/T/L. Ttl pymt/Res. $18,900/30,085.50
36 months/10,000 miles per year. .20 cent over mileage
subject to credit aproval and vehicle availability
How does this compare? I'm not leasing, I'm going to buy a CPO, but I thought you'd lilke this as a point of comparison. Good luck.
#2051 of 3911 Re: [gardis]
Nov 20, 2008 (10:04 pm)
You don't say what the capitalized cost is or if the payment includes sales tax, but if it doesn't include sales tax, it works out to about $3,000 off the MSRP, assuming the MF buy rate of .00175 and a 62% residual which are the rates for 36 mos., 10K. This is about $1K over invoice - not terrible for an '09, but not a killer deal either. Take out the $2500 down payment and the monthly payment is $594.65, just $30 less than the '08 535iX I describe above that costs nearly $8,000 more. If the $525 payment includes sales tax it's a better deal.
#2052 of 3911 Lease payment question 528i 2009
Nov 22, 2008 (7:40 pm)
Just got quoted for a lease for a 528i 2009 BMW for $600 per month (36 months 10,000 miles) with zero down, with a $2,600 "inception fee" which includes the first month payment and the last payment on my X5 lease assumed by the BMW dealer which is $608. Does anyone think this is a good deal? I don't know much about the Money Factor process but the invoice is $47,000+. Also, I've been leasing from BMW for 6 years. Does anyone know about loyalty discounts or any such offers?
#2053 of 3911 X5 2008 Lease HELP- $699 mo. 36/12k _DEMO
Nov 23, 2008 (8:10 am)
jayrider sent me here for assitance, specifically jvost...
Please help me on a 2008 X5 3.0 lease in upstate NY. It is a holdover DEMO with 2,500 miles. MSRP $55,325, Selling price $49,700 Lease: 36 mo./12k miles
Includes: Premium Pkg, Cold Weather Pkg, 3rd Row, Rear Climate, Rear DVD & Park Distance
Residual is (56%)? & Money X = .00125 (3%)
Monthly payment $699.66; included taxes and zero $ down payment
Question 1: is this a good deal or could they come down? they wouldn't budge when I asked for accessories or lower payment. should i just take it at $699 or what is the REAL monthly # I can get this down to? dealer said "No X5 goes below $700 with zero down". Any truth to this?
$2,405 due at signing (inception fees)
$699.66 1st month
$625 bank fee
$225 office fee
$700 security deposit
Question 2: can i negotiate any of the fees (bank & office)?
Since the car is a demo I lose my BMW CCA loyalty rebate, and the dealer will still not budge. Dealer in NY said if I don't pull the trigger by Tuesday, he will not honor the offer and has other buyers wanting the car.
Questiion 3: What can I get him to throw in or work with me on? Possible tire waranty since they are run flats?
Please help me, I need to decide in next 48 hours.
#2054 of 3911 Re: X5 2008 Lease HELP- $699 mo. 36/12k _DEMO [bmanpc]
Nov 23, 2008 (2:13 pm)
Hi bmanpc - I haven't been in the market for an X5, so I really don't have a good handle on what kind of deals can be made. I personally shoot for 10-11% off the MSRPincluding dealer fees and the bank cost. In your case, your cost is really $50,500 ($49700+$625+225), which is a discount of $4775, or 8.6%. It does appear that you're buying the car for below invoice, though. Also, .00125 is the buy rate for the money factor, so they're not marking that up, which is really good. Finally, it's always difficult to analyze lease terms when people give you the payment inclusive of sales tax. These rates vary all over the country, so it's best if you can get the payment before sales tax. That said, I calculated the payment based on $55,325 MSRP, $49,700 cap cost, 36 mos., 12K, .00125 and 55% residual (the current rates) and came up with a payment of $635.47, so your tax rate there must be just about 10% - that would yield a total payment of $699.
I think this is a decent deal and would be a really good one if you could get them to come down another $500 - $1000 dollars, which would reduce your payment to $683 or $667, respectively. But hey, if you like the car, what's another $16 - $32/Mo!
Last thought - If you give them 7 more refundable security deposits ($4900), your MF would drop to .00076 (1.82%), your payment would drop to $655.38, so you'd effectively be getting a 10.8% return on your deposit! Best of luck.