Last post on Dec 07, 2013 at 10:24 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
BMW 5 Series, Car Leasing, Sedan, Wagon
#2372 of 4282 2009 535i xdrive demo w. 6100 miles for $639?
Jun 16, 2009 (12:31 pm)
We are looking at the following vehicle:
2009 BMW 535 i xdrive demo with 6100 miles.
Original MSRP 59670
Cold Weather Pkg
All Wheel Drive
Steptronic Auto trans
ipod & USB adaptor
Sattelite radio w/ 1 yr mbrship
destination charge ($825)
Offering for $51995 minus 2500 cash = $49,495
Money factor .00175
36 mo. lease
$725 Acquistion fee
$201.46 Document fee
$650 Security Deposit
6% sales tax
Dealer says lease payment comes out to $639 per. mo (includes acquision fee) tax extra (150 due as a total amount at lease signing), but I'm not sure if this is accurate. I used a lease calculation and came up with $584 (which includes tax and acquision fee built in) but maybe my calculation doesn't count because I used a calculator for leases that have to be new cars? http://www.edmunds.com/advice/leasing/articles/48365/article.html
Not sure, since this vehicle has miles on it.
How does this look?
And how do I know that the mileage hasn't been manipulated?
#2373 of 4282 Re: 2010 BMW 528i [jasont]
Jun 17, 2009 (8:40 pm)
Where are you located? I'm looking for a convincing argument to get my dealer to waive the MACO and Training Fee. Are these fees optional? They are telling me its part of the invoice.
#2374 of 4282 BMW Lease Question
Jun 19, 2009 (7:50 pm)
I am thinking between buying and leasing a new 09 BMW. I am thinking of leasing for a year and then buying it off. That way I don't have to worry of year 1 depreciation which is steepest. Has anyone done this before? Is BMW flexible enough to allow buying the car during the lease period? I am curious to see if anyone on this board has any advise.
#2375 of 4282 Re: BMW Lease Question [whocares5]
by kyfdx@Edmunds HOST
Jun 20, 2009 (5:15 am)
That won't save you any depreciation.. The buyout of the car won't be based on it's market value.. The payoff will be determined by your lease agreement... much like a normal loan..
You will be out the acquisition fee that you paid for the lease, though.. ($725-$925).
#2376 of 4282 Re: BMW Lease Question [kyfdx]
Jun 20, 2009 (6:45 am)
Thx Kyfdx! I appreciate your response and now I have couple of more questions. The basis scenario is that I am in market for a new car as my old lease is expiring. There is a good chance that I may have to leave country for work in a year. So I am leaning towards financing the car but payment will be high on that. As such, I thought of leasing a car for a year and buyout the car next year and sell it off. This way I can save some money in next year. The hope is that since car depreciates so much in year one, financing will cost me more money if I sell if after one year. So my question is how is payoff price determined in a lease? And is it advisable to follow the approach listed above. Any response will be appreciated. Thx.
#2377 of 4282 Re: BMW Lease Question [whocares5]
by kyfdx@Edmunds HOST
Jun 20, 2009 (6:54 am)
The payoff on a lease is determined just like a car loan..
You pay $45K... At the end of three years, the car is worth $25K.. The car payoff declines pretty much linearly between those two numbers, over the term of the lease. (A purchase payoff declines slower than that, as more interest is charged when the balance is higher.. Finance charges on a lease are averaged over the entire lease term).
Since the actual depreciation will likely be faster than that, you'll take the same loss when you try to re-sell the car that you would take in a purchase, anyway..
I'm not sure what car you have now, but you might see if you can extend the lease for one year. That would surely be cheaper than any of the scenarios you are comtemplating. If you have a BMW, they generally won't do that, unless you have another BMW on order.
#2378 of 4282 Re: BMW Lease Question [whocares5]
Jun 20, 2009 (7:07 am)
You may also try taking over someone's lease with only a year left on it www.swapalease.com or leasetrader.com.
#2379 of 4282 Re: BMW Lease Question [kyfdx]
Jun 20, 2009 (7:34 am)
Thx. This was helpful! Has anyone sold a lease on swapalease.com or leasetrader.com? I am wondering if that is a feasible consideration. Do these websites work? How much do the seller stand to lose in such situations?
#2380 of 4282 Re: BMW Lease Question [whocares5]
by kyfdx@Edmunds HOST
Jun 20, 2009 (10:02 am)
The key is to negotiate an outstanding deal on your lease... If your payment is a good deal for someone else, then it's more likely to get assumed... If not, then you can expect to pony up some cash for an incentive..
I like the idea of assuming a lease, yourself... That way, your costs are fixed, and you don't have to worry about whether you are going to get rid of the car on time, or for how much...
#2381 of 4282 2010 535i xdrive lease
Jun 20, 2009 (2:42 pm)
Ok folks just got home from the dealership and want to know if this is the deal I should sign?
2010 535i xdrive
Satellite Radio w 1 year membership
36 mos lease with 20K miles per year.
I offered 2500 down as cap reduction
List price of car is 58,870 which includes 825 destination
Monthly payment with taxes came to $825/month
Due at signing total was $2500 down plus first months payment and security deposit of 500.
Dealer was using 58% residual and .00175 lease factor. Sale price after my cap reduction was 55,080.
Tell me what you think.