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BMW 7 Series, Car Leasing, Sedan
#108 of 599 Question about MF and Dealer Incentive
Feb 19, 2008 (3:56 pm)
Can you provide me with some information. I am a current 745i owner. My lease with BMW financial services is expiring next month. Can you tell me what the current Dealer Incentives and the Money Factor is for a 2008 750i with 12K miles per year. Also, when do the those figures expire. I read (not that I believe everything I read on the internet, but it can't hurt to verify) somewhere that BMW financial services was offering a special incentive to returning 7 series owners. Is there any truth to this. Thanks for all your help Car_man!
#109 of 599 Re: Question about MF and Dealer Incentive [jb2inboca]
Feb 22, 2008 (3:51 am)
Where are you located, FL? There's a $5k manufacturer-to-dealer cash that can be used towards reducing your cap.
24 month / 12k-mi residual is 67% and carries a buy rate mf of .00200.
36 month / 12k-mi residual is 57% and carries a buy rate mf of .00200.
Rates good through Feb 29.
#110 of 599 Re: Question about MF and Dealer Incentive [ocautoseeker]
Feb 22, 2008 (7:52 am)
I am located in South Florida near Fort Lauderdale (Coconut Creek to be exact).
Thanks for the info ocautoseeker!
Feb 28, 2008 (8:26 pm)
I hate to sound stupid but I must admit that I am. I cant figure out what a good lease is . I see " Residual" and "Buy Rate" , but I dont understand. I have a 745i sport that is coming off the lease in April. My dealer says that the new deal ends tomorrow. He says it's a special deal for 7 series owners. The car I picked cost $88945.00 on a 2 year lease ( I want 3 years but the deal is only 2years). He quoted me $830 a month with 7k down with 12k miles. He said he could get me 15k for the same price. I want the BEST deal !!! What should this car cost me?
Also, I love my sport package but hate the seats. I am thinking of getting the air ride system that he says can adjust to the sport suspension? Do you have any recomendations?
#112 of 599 Re: 750il lease [wease944]
Feb 29, 2008 (1:53 am)
Residual Value is what the vehicle is "projected" to be worth at the end of a specific term (ie. 24/36/48 months). The longer the term, the lower the residual value will be. The difference between the price you negotiate (cap cost) and the residual is known as the deprecitaion and thus what you pay + interest and local tax.
Buy rate is the base cost of the money from a lending institution. So, assume the buy rate money factor is .00200 (current buy rate mf for 24 & 36 mo terms) , which equates to 4.8% apr. If this were the buy rate (the lowest rate available), this is the rate you'd want the dealer to use to calculate your payments.
Now, dealer's CAN mark this rate rate up to what they call a sell rate to make additional profit, but if you have decent credit and you're aware of the buy rate for the particualr model you're looking at, that's the rate you should get.
Tomorrow is the end of the month, so the dealer could very well be pushing you to do something to hit his quota, but deals aren't going away on the 7series as it's up for a redesign and you're most-likely going to see incentives continue.
I definitely DO NOT recommend you putting $7k into a lease.
#113 of 599 Re: 750il lease [ocautoseeker]
by kyfdx HOST
Feb 29, 2008 (4:57 am)
Ditto on everything..
But, there is a great deal on 7-series leases this month, for current 7-series lessees... So, you don't want to pass that up.... but, that doesn't mean that this particular salesperson isn't trying to take you to the cleaners...
The best deal is on the 24 month lease, because there is a huge upfront dealer cash incentive on the lease..
If the dealer can make the same deal on 15K/yr lease, then that just means he has room to come down on his price.. Ask him to requote the deal with just the minimum due at signing (under $1500)..
#114 of 599 Re: 750il lease [kyfdx]
Feb 29, 2008 (5:17 am)
what is the current 24 month lease deal you referred to? is it only for returning 7 series owners or any returning bmw owner?
#115 of 599 Re: 750il lease [jim53]
Feb 29, 2008 (6:14 am)
The lease deal is only for current 7 series owners.My friend wants a similar car and they quoted him $140 more a month because he's not returning a 7 series.
#116 of 599 Here I go again.
Feb 29, 2008 (6:29 am)
So what should the lease price be on a car that has a msrp of $88945.00 on a 2 year lease . Edmunds tmv says $82500.00..
#117 of 599 Re: Question about MF and Dealer Incentive [ocautoseeker]
Mar 03, 2008 (9:20 am)
Does anybody know what the March dealer incentives and the money factor is for a 2008 750i with 12K miles per year. Also, are there any specials for returning seven series leases through BMW financial services.