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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
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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 $155 plates $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.
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Replying to: bmanpc (Nov 23, 2008 7:10 am) 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.
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Replying to: jvost (Nov 23, 2008 1:13 pm) When I deduct the residual value from the MSRP, something does not compute. $55,325 x 56% =$30,982. This is correct. However, the dealer is telling me the residual is $30,144. Does this mean he is trying to make money on the $898 difference? By his calculation its 54.4%. Are you also saying if I put money down, I might be able to change the MF from 3% down to 1.82%. I think the MF was set by BMWFS? Really appreciate your advice...
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Replying to: bmanpc (Nov 24, 2008 4:33 am) Go to this website to download an xcel spreadsheet that you can use to calculate the lease. If necessary, show the spreadsheet to your dealer and input the numbers together, so you understand what's going on: http://www.ridewithg.com/ The way you reduce the MF is not by "putting money down", but by posting additional, refundable security deposits. BMWFS lowers your MF by .00007 for each additional security deposit you post. |
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What is a fair number for the vehicle cost when presenting a counter offer to a dealer on a 528xi lease? All my local dealers want $1500 over invoice on an '09 528xi. I really thought with things being so slow they would be more competitive on pricing. I have walked from two dealerships offering $500 over invoice after being nearly laughed at.
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Replying to: jamby1 (Nov 25, 2008 7:12 am)
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Replying to: jayrider (Nov 25, 2008 8:21 am)
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Replying to: jamby1 (Nov 25, 2008 8:25 am) |
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Jayrider, very good advice. That's what I've been doing. I'm looking now for a good 3 months for a nice 530i deal. I had a good conversation with a salesman at a BMW dealer in CT here about a nice 2007 530xi I have my eyes on. It's got 18K miles, and they're asking $39K for it (premium package, sports package). He told me the car had one owner, went into service APRIL 2008!! The owner bought it in New London (BMW dealer), lives in New Haven, traded it in for a 7 Series! He practically read me the service record for the vehicle. It has no issues, except a power window issue which they fixed. The warranty covers the vehicle until April 2014 and the 50K mile warranty goes until 2012. I'm going to see the vehicle over the weekend. The guy was totally transparent and answered every question I had. No pressure whatsoever. The first owner turned the car in at 16K miles, and then a BMW rep had the car for the next 2K miles. The salesman told me I could speak to that BMW rep about how the car handled anytime I want. I'd love to get that car for about $36K, do you think I have a chance. I don't want to insult them either, but I'm not paying sticker price, or I'll walk. I only spoke on the phone, emailed him also. If I go look I don't speak to anyone, I just scope out the car, and that's it. I don't let them get me inside or it's all over. Meanwhile, at the other dealer in Westchester county, NY, where I saw another 530xi 2007 last week, but wasn't that crazy about it, the sales woman called me about another vehicle they just got in, going through certification, and "maybe you should put down a deposit because they're a lot of sales reps here, the car might go...." But I wouldn't hear of it without seeing the car. She thinks I will like the car. Actually I saw the car listed on the BMWUSA website, it wasn't even out on the lot yet. That' s a pretty good way to track down vehicles by the way. You can search by your zip code, 10 miles, 50 miles, whatever you choose. I don't know what I'm going to do, but I'm thinking it over carefully. I figure the car is almost new, let's face it, and the warranty goes for another 5 years. I pretty much decided to pass on the 2008 535i I saw and went nuts over, because that's just too over-powered for me.........then I think hey, the market lost 500 pts the other day, but you know what...there are a lot of people not around anymore and I think of them, and I say to myself, hey, you only live ONCE....... Any thoughts?
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Replying to: gardis (Nov 25, 2008 6:16 pm) |
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