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Prices Paid: Buying & Leasing Experiences BMW 5-Series Lease Questions
2605 messages, Last post on Dec 06, 2009 at 5:24 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: blckislandguy (Jun 20, 2009 7:18 pm) Moreover, at the end of three years you'd have a paid for 7 Series with a still-current body style and some equity. Not either a "disposal fee" or a forced re-up.
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Replying to: blckislandguy (Jun 22, 2009 5:24 pm) I've bought high end luxury cars for 50% off in the past and learned that between further depreciation and repair costs, I am better off leasing a new one every three years. There's always some sort of subsidy to move these cars these days.
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Replying to: davidc1 (Jun 23, 2009 4:59 am) Moreover, Mercedes and maybe Bimmer have CPO programs that allow you to buy additonal coverage to extend the term of the warranty from the factory. Example, a 2007 S Class if CPO'ed has the balance of the new car warranty PLUS an additional year because of the CPO. But why stop there? You can buy directly from MB two more years beyond that. The only limit is that you can't go over 100,000 miles. So, if you spent time researching a good buy on a 2007 (the first year of the current body style) S Class CPO, you could wind up with lots of factory warranty protection while you drove the current body style for 4 years. Prefer the Ultimate Driving Machine? OK, play your cards right and join BMWCCA for not much money. In addition to getting Roundel which is a good mag, after you have belonged for a year, negotiate your best deal on a CPO 7 Series. After you do that, the factory will then kick in some money or cancel a payment. All in all it seems to me that a lot of people lease for all the wrong reasons. But if you are the kind of guy that this board seems to attract, a guy who is concerned with researching the absolute best deal why not put the same effort into a purchase? The used market is very "inefficient" and rewards research. Maybe you'd find a black S Class 4Matic in Miami or Las Vegas that the dealer just can't get rid of because no one wants black or AWD in Miami or Vegas (assuming that they have any money left after their housing debacles). You know though it would sure look nice in Boston. Maybe, you'd turn up a low mileage 2006 Bentley Flying Spur with AWD for less than 70K which is a lot less than the 185K someone paid three years ago. If you really want a 5 Series, there are loads of 2007's on Cars.com for well under 40K.
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Replying to: acgrafx (Jun 22, 2009 12:49 am) As Equipped $46,625 Selling Price $43,820 36 Month 10K per year 1.45 MF (current customer) 61% Residual Payment $531.94 ($581.17 including 9.25% California tax) License and Registration $588.75 Bank Fee $725 Doc Fee $45 First Payment $581 No Rebates No Cap Reduction But Cap Reduction Tax is 9.25% = $71.22 (What is being taxed?) Due at signing $2011.15 One dealership already told me that he can't beat it. Another said he could beat it by $10 a month but I don't know what terms or Cap Red. Cost he factored in. I know this sounds like a good deal but you guys have more experience in this field so I would like your advice on this one. Thanks. Also, do the deals get better as time passes on the 2010? I will be ready for one in July and one more in August. The wife wants one too.
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Replying to: acgrafx (Jun 25, 2009 10:42 am) |
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Replying to: acgrafx (Jun 25, 2009 10:42 am) |
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hi there, I just found a very nice 08 535i, sport, nav, shift paddles, current mileage is 11k. in lease trader not too far from me. I would be paying $569 (taxes including) per month for 21 months, and aprox 10k miles per year (around 800 per month) which can work out fine since I also have a commuter car. There is a $500 lease transfer fee that I would have to pay. Is that a good monthly pmt for this car? (there will be zero money down for me), and should I ask the leasor for the $500 fee to be paid by him? All feedback is greatly appreciated. |
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Replying to: blckislandguy (Jun 24, 2009 6:58 pm) I estimated a used 2007 5 series with similar features CPO would go for $37k plus another $3,515 in sales tax. For comparisons sake, I estimated a loan doing the same drive offs as my lease which were security deposit only or $700. I used 3.9% for 60 months which was the BMW offer at the time. That means a loan of $39,800 or $731 a month. After financing for 3 years, I would have spent $3535 in interest and that $37k car would now be worth about $19k. So between depreciation of $18k plus interest I would be out $21,500 which is only a savings of $2k over the lease, which may honestly be lost if I cant sell the car for $19k. Plus, the CPO only lasts for 2 years after the initial warranty expires, so in 3 years that 2007 5 series is now 5 years old and has no warranty, not what I am looking for. I like a new car every 3 years, I drive less than 15k miles per year, and I hate selling a car when I am done with it. The lease seemed like the best option for me. I am curious, after seeing these figures, if you still disagree?
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I have leased many cars and recently purchased a CPO. Your logic is correct but I think you over estimate the cpo price. I purchased a 2007 550i for 35000. You could get a 530 or 525 for less. So redo your financials using a lower price. However, a new car every 3 yrs typically equals lease.
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