Last post on Dec 04, 2013 at 7:59 PM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW 5 Series, Car Leasing, Sedan, Wagon
#4142 of 4276 Too good to be true?
Sep 07, 2013 (12:09 pm)
Ok we are leasing a 2013 528I X Drive M Sport. The car has 5,800 miles on it. They are telling us even though the car is used the car is still qualifies under the new car lease programs. Several dealerships told us the same thing. The dealerships were in NJ and PA.
Original MSRP was $62,800 - very well equipped.
New sale price is $53,897
Our price is $48,897
We are putting $2,500 down
36 month lease
We live in NJ and we are buying the car in PA
We are currently Not BMW owners so no loyalty incentive
I don't know much about the money factor or residual. What I do know is no one is touching this deal.
Side notes: The mileage clock starts at zero so we can take the car back at 35,800 miles
We called around to different dealerships and everyone else was in the upper 5's to mid 7's for a new and/or used 2013 with new car lease eligibility.
Does this sound fair? My buddy referred me to this guy/dealership. My buddy is a shopper and he has bought his last 7 BMW's from him (he leases every 2 years.)
Any thoughts/suggestions would be greatly appreciated.
Sep 08, 2013 (5:40 am)
My dealer is pushing the "owner's choice" balloon note rather than a true lease. And he has quoted 4% rate with a 60% residual for 36 months and 10k miles (2014 model).
Is this the buy rate? The right residual?
Is this better or worse than a true lease?
Any help appreciated. Thanks!
#4144 of 4276 Re: BMW 535i [whichluxurycar]
Sep 08, 2013 (7:49 am)
The biggest difference I see is that a lease has a fixed buyout or you can just return the car. On the "owners choice", there is no option to just return the car...you will pay any difference between the balloon amount and what the dealer (or other) offers you for the car. You are effectively just financing the car a different way under a fancy name.
I lease because I want to walk away from the car at the end of the lease....and unless I damage the car, I just drop it off and don't owe anything. With "owners choice" you have no idea if you will owe money or they will owe you money...unless you can guess at what the real value of your car will be after the "lease period". Don't assume that the lease residual is an accurate reflection of the real value. I currently have a mercedes on lease going back in Dec....with a residual of 77% ($46000)...the wholesale value of the car is less than $30000. Since I leased, MB eats that difference...if MB had an "owners choice" option (they don't), I would eat that $16000.
My 2 cents...be very very careful.....
#4145 of 4276 MF and RV for the Lease of a 2014 535i
Sep 09, 2013 (5:08 am)
I need please the Money Factor and Residual Value for a 2014 535i for 36 months and 10K miles per year. Any cash incentives / credits that I should be aware of? i am an existing BMW client with excellent credit. Also, would these incentives apply if I decide to do a European delivery?.
Many thanks for the information
#4146 of 4276 2014 528i M Sport
Sep 09, 2013 (2:00 pm)
I got this offer on a 2014 528i w/ the M Sport package from a SoCal dealer. It would have to be ordered. Any thoughts?
Selling Price: $50,000 (includes $1K from the driving experience event)
Money Rate: 0.00125
Total Drive-off(including deposit): $17,500
Monthly Payment: $207.81
My thoughts are that the price is attractive, but the residual is way low. I hear its supposed to be 62%. Also, I can't back into their monthly payment. When I run the numbers, I come up with a monthly payment around $150.
#4147 of 4276 Re: MF and RV for the Lease of a 2014 535i [jvergara]
Sep 09, 2013 (2:38 pm)
Thanks for this. I have that same 77% residual lease on an E350 bluetech. Wish I could just keep riding those LOW LOW payments. But 24 months is up, I'm afraid.
#4148 of 4276 Re: 2014 528i M Sport [jg15]
Sep 09, 2013 (5:31 pm)
The residual on a 10K lease is 62%. There were some erroneous residuals sent out by BMW on Wednesday, which were quickly replaced with the correct ones.
If your $1,000 is the UDE, unless your dealer can work some magic it will expire before your car arrives on the West Coast, as it is valid only for deliveries by October 31. Maybe you will be eligible for the Holiday Credit instead.
$17,500, even if including MSDs, is way too much to put down on a lease, as if the car is stolen or totaled, your money will be gone, and you are giving up the implied value of the free GAP insurance.
Can't comment on your payment calculation, as you haven't provided enough info.
#4149 of 4276 Re: 2014 528i M Sport [infinitimn]
Sep 09, 2013 (8:33 pm)
That's a great point - I didn't think about the fact I'd be out a lot of money w/ a big down payment if the car is lost or stolen.
But what other info do you need to calculate the monthly payment. I realized I was missing sales, which is 9%, but what else do you need? I thought the cap cost would be $50000 + $725 = $50725, but I take it that's wrong.
Any guidance would be helpful. First time lessee.
#4150 of 4276 Re: 2014 528i M Sport [infinitimn]
Sep 09, 2013 (9:16 pm)
I should also add that it's a 36mo lease, and I meant to say sales tax is 9%.
#4151 of 4276 '13 535x Gran Turismo Leases #s??
Sep 11, 2013 (3:52 am)
I know it's not the most popular vehicle, so maybe the lease numbers aren't great. But, I'd like to have the Sept #s if possible for 36 mos/10k miles for the 535 x drive GT.
I believe there is $3k, is that applicable for lease? And any loyalty? Thanks all.