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You are in the Prices Paid - Buying & Leasing Experiences
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BMW 5 Series, Car Leasing, Sedan, Wagon
#2457 of 3911 Re: 2010 535i 36-mth lease question [acurious]
Aug 27, 2009 (12:12 pm)
acurious -- maybe carman will chime in, but I believe the official BMW rate for a 2010 535i is .00155, so the rest is going to the dealer, and you should be able to find a dealer that will give you .00155. Knowledge is power ... stick to your guns.
Prepaying for mileage overages probably makes sense given that the per mile rate is less, but is that recoverable in the event the car is totalled? Still may be worth it though.
I'm picking up a 2009 535xi on Saturday, MSRP around $63,000, 36 months, 15K/year, .0005 MF, 1 month security deposit and 1st months payment up front, for about $650 including tax. Car has about 1,500 miles on it at the dealer and is still being sold as new. I think I did OK.
#2458 of 3911 Re: 2010 535i 36-mth lease question [rbr]
Aug 27, 2009 (3:46 pm)
BMW lets you buy only the mileage you need till about 4 mos before you lease is over at only .01 more than what you would pay at inception. Therefore you aren't paying for what you don't need. I knew 15K was too much and 12k probably not enough and will gladly only pay for the overage I only use. Not a bad deal and I can keep the extra $$$ till I need to part with it.
#2459 of 3911 Re: 2010 535i 36-mth lease question [rbr]
Aug 27, 2009 (4:08 pm)
.0005!!! You are kidding, right?
#2460 of 3911 Re: 2010 535i 36-mth lease question [SergeyM]
Aug 27, 2009 (8:00 pm)
I believe the 2009s still have MF of .0005 on them but I thought the 2010s were around .00155.
#2461 of 3911 Re: 2010 535i 36-mth lease question [SergeyM]
Aug 28, 2009 (4:08 am)
No ... not kidding. I was surprised too. The sales rep said that was available with a one month refundable security deposit. Obviously the best part is that translates to a tremendous amount of interest/rent savings on cars that are this expensive, not to mention that virtually every dollar you are paying goes to depreciation which should positively affect the end of lease purchase price. Remember this was on an '09 535xi, and there aren't many left.
#2462 of 3911 Re: 2010 535i 36-mth lease question [rbr]
Aug 28, 2009 (6:16 am)
BTW, my car is an '09, but it was a late production car so it has the improved iDrive hardware.
#2463 of 3911 Questions from a lease newbie - 535i
Aug 28, 2009 (7:16 pm)
This forum is great. I have learned so much, but still feel a bit lost when discussing lease options with a dealer.
I just got an opening quote from a dealer for a 2010 535i with sport, premium, value, comfort access, nav, and satellite radio. MSRP is $59,570. There is a "dealer package" of $399 added but I have no idea what that is. They discounted the MSRP by $2,836. They added tax, tags, and a $479 processing fee. Is that a normal amount? The total balance is $59,491.63.
He quoted me prices for 24, 30, and 36 month leases with 12,000 miles and no down payment. He used a money factor of 0.0021.
24 month lease is a $1,187/month payment ($38,125 residual value)
30 month lease is a $1,023/month payment ($36,933 residual value)
36 month lease is a $914/month payment ($35,742 residual value)
These are my questions:
1. Any idea what that $399 dealer package is?
2. Is the $479 processing fee reasonable? Can that be negotiated?
3. Is the $2,836 reduction off of MSRP a good reduction? How much profit is typically built in? I think I have read that about $4,000 is built in. Should I push to get even more of a reduction?
4. From what I have read in this forum, the money factor they quoted me is high. Is 0.00155 the standard for the 535? Will that change in September?
5. He gave residual value dollar amounts but I am not sure what number is used to calculate it. I would like to know what the standard percentage is and see how these numbers match up. Do you use the MSRP or the total after taxes and fees to calculate the residual value?
I would appreciate any other insight?
#2464 of 3911 Re: Questions from a lease newbie - 535i [waid10]
Aug 28, 2009 (8:27 pm)
Waid -- A "dealer package" may be some sort of minor dealer installed things or prep things ... just ask them for that and then probably say no thanks. The $475 processing fee is ridiculous unless it has something to do with a lease inception fee. For instance (and although I know I could have fought it), my dealer has a $99 processing fee. Processing fees or whatever are just added profit for the dealer. The money factor is definitely higher than the official BMW rate which I think you have stated correctly.
You should negotiate a price based on invoice which you can figure out on the Edmunds site. My most basic advice is to not sit back and just try to justify their price. Make him an offer that is maybe $1000 or less over the invoice price and make that your cap cost on the lease, and state that you want the official lease rate of .00155 (.00165 for an X-drive), and dont be shy or defensive doing it. Also, you may want to get a quote at both 15,000 and 12,000 miles. The deals on the 2010s will likely only get better as we get closer to the new design which I guess is estimated to arrive mid year 2010.
#2465 of 3911 2010 BMW 528i Leasing Question
Aug 29, 2009 (1:17 am)
Hey guys, I'm new to this so please bear with me. I went to lease a 2010 528i base sedan and the MSRP $46,625. 36 months,12k miles. Total out of pocket at signing $2100 and $600 a month including taxes. How good or bad is this deal? I would appreciate any tips or suggestions.
#2466 of 3911 Re: 2010 BMW 528i Leasing Question [djwaj]
Aug 29, 2009 (11:29 am)
not bad...do you know what the money factor is? I just leased this past Wed at BMW of Mountain View, CA a 535i with M/package for $980 a month at .00175 based on $500 over retail with all bells and whistles. Cap cost = $60,920. Probably could have gotten .00155 but it's a 2010. Had to get prepaid miles too because I drive an insane amount per year hence higher payment. I think you can negotiate the money factor as well. Good luck.