Last post on Dec 10, 2013 at 4:36 PM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW 5 Series, Car Leasing, Sedan, Wagon
#2611 of 4289 BMW 2009 528XI lease take over- help!
Dec 10, 2009 (8:40 am)
Hi all - I have an opportunity to take over a lease- 2009 528xi fully loaded-7k miles- 26 months left on the lease- the current leaser wants 2k for his pocket and wants me to pay the 600.00 lease transfer = 2600.00 out of my pocket- the monthly payment is 590.00 a mo. is this a good deal? can I do better at bmw on 2010 with all they are offering now?
#2612 of 4289 Lease Deal
Dec 10, 2009 (2:34 pm)
Hey Car_man, or anybody,
I've being negotiating with my local Dealer (miami Fl) for a few weeks, and this are the best numbers so far:
2010 528i with Premium Package
Selling price $42500
2000 total money out of pocket
$549 + Tax ($588 with tax)
what do you guys think??
Dealer is telling me this are the rock bottom numbers.
#2613 of 4289 Re: Lease Deal [rob_m3]
Dec 11, 2009 (12:37 pm)
I'm picking up a 2010 535xi in a few days no money down except I bought down the $$$ factor which is refundable. 12k a year 36 months with premium,value,park distance,nav,sat,logic 8 stereo....... MSRP $58,800--------$639 a month tax included.
#2614 of 4289 Re: Lease Deal [kindzcar]
Dec 11, 2009 (8:27 pm)
Thats a great deal. are buying the car from a south florida dealer?
#2615 of 4289 Re: Lease Deal [rob_m3]
Dec 12, 2009 (6:11 am)
No, NY Metro Area dealer.
BMW in my opinion give buyers some of the best options for leasing. You need to focus on reducing the cost of the vehicle and keep pounding on them to lower it. Once you have achieved this goal, then tell them you want to buy down the money factor. It will reduce your cost even further, plus you get the money back or roll it over to your next lease if you lease another car with a BMW.
Good luck, BMW is wheeling and dealing right now IMO. I was seriously thinking about downgrading from my current 530 due to the economy and current lease prices but I couldn't walk away from the offer they made me for the 535.
#2616 of 4289 Re: Lease Deal [kindzcar]
Dec 12, 2009 (8:34 am)
Would you mind letting me know the price you paid and MF you got.I am looking for a 528i with VP only.Also the dealer in NYC you went to.I would really appreciate that.Thanks.
#2617 of 4289 Re: BMW 2009 528XI lease take over- help! [stonefoxx]
Dec 12, 2009 (12:16 pm)
I've taken over two leases of cars I found on Swapalease.
A 335i and a GL450 Good experience both times.
I was given $1k in cash to take the 335 and $2500 to take the GL.
Your guy has it backwards.
#2618 of 4289 Re: Lease Deal [rob_m3]
Dec 12, 2009 (12:22 pm)
Who is the dealer in Miami you are dealing with? Trying to lease the same car up in palm beach county but could go down to Miami.
#2619 of 4289 Re: Lease Deal [jbomar1072]
Dec 12, 2009 (7:20 pm)
South Motors BMW.
#2620 of 4289 Re: BMW 2009 528XI lease take over- help! [gtli]
Dec 12, 2009 (10:23 pm)
I think it all depends on how the original lease was structured. If it was a no down-payment lease, the original leasee will need to pay an incentive for someone to take over the lease. After all, he/she enjoyed the new car smell. On the other hand, if a person, while not advisable, paid a down payment -- which reduced monthly payment -- he/she will want/try to get a portion back.
In addition, the selling price (to calculate capitalized cost) and money factor also play important role. Let's say someone got a lease with 0.00095 money factor, that lease, with lower payment, may be more attractive than a new lease with 0.0025 money factor. Then there may be refundable MSD (multiple security deposit), which the original leasee will definitely want it back.
Therefore, it is possible to PAY the original leasee to take over his/her lease.