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BMW 7 Series, Car Leasing, Sedan
Apr 08, 2008 (11:55 am)
This is the offer I received today on a 2008 750i:
4000 under Invoice
Money factor .00225 Said the increase from .002 was to waive a security deposit. Told me this was necessary...even though I have leased or financed 3 cars through BMW financial Got done with the last one only a month ago. How much BS was I given???
36 month residuals:
.55 for 15k
.57 for 12k
I asked for breakdown of all fees but was not given the Acquisition Fee. I know it should be about $625.
Please let me know about the Money Factor.
#144 of 654 Re: 2008 750i [jabes30]
Apr 08, 2008 (12:49 pm)
sounds like BS to me especially since you are a return BMW FS customer. In any event, I would recommend putting down the maximum multiple security deposits (up to 9 used to be permitted) to buy down the money factor even further. I have done it on my last 3 BMW leases and it is a very good return on your money.
#145 of 654 Good Lease $ for a 2008 750Li?
Apr 08, 2008 (6:10 pm)
Hello Folks! -- A question for Mr. Car_Man;
Am looking at doing a 24 month lease on an 08 750Li -- would appreciate your review to see if I'm getting a good deal - or where there's room to negotiate further with the dealer here in Florida...
Black/Black Leather/Dark Wood
Convenience Package, Luxury Seating Package, Premium Sound Package, Sport Package, Comfort Access, HD Radio, Sirius Radio
$79,200 Selling Price
Lease 24mo. x $1416
12,000 miles per year
1st payment only due at signing
67% residual (68% for 10,000 miles per year)
.00215 buy-rate with no security deposit
.00255 money factor on lease
Is this a good deal? Also working on the acquisition fee - getting it down to $625.
Thanks -- Mike
#146 of 654 Re: Good Lease $ for a 2008 750Li? [zornesp]
Apr 09, 2008 (3:34 pm)
You are addressing Car_Man but I will try to answer in case this is time sensitive....
Not a good deal at all. Cap cost is good but Money factor is not.
Even with the higher .00255 Money factor your payment before taxes should only be $1,153.
with the correct money factor of .00200 it should be $1076. A bit higher then that if you do not pay security deposit.
So the dealer is taking you for a expensive ride...
Not sure what you mean by "buy rate"...
Anyhow good luck...
#147 of 654 Re: Good Lease $ for a 2008 750Li? [iggso]
Apr 09, 2008 (9:29 pm)
Actually - there's also 8.25% tax (I beleive) being added to the $79K cap price (as the car will be shipped to TX - was advised we need to pay TX taxes) - thus, there's around $6500 in taxes that have to be paid too. -- thus the $1400/month rate includes the taxes (split over 24 months)
#148 of 654 Re: Good Lease $ for a 2008 750Li? [zornesp]
Apr 11, 2008 (5:27 pm)
The $1400 a month rate is just very very high for this car right now. Also when you lease a car the only taxes paid is based on your monthly payment.
#149 of 654 Re: Good Lease $ for a 2008 750Li? [iggso]
Apr 11, 2008 (9:09 pm)
Unfortunately - as the car will be titled and registered in Texas -- one of the #(#( states that requires you to pay taxes on the FULL cap purchase price (we're down to $77K on the $89K MSRP) -- we've got ~6300 in taxes to pay over the 2 years added to our monthly lease (or write a $6200 check up front and pay the taxes separately).
We got the MF down to .00215, acq fee to $625, and selling price to $77,290 - our monthly payments (before taxes) are $1039, Heck of a good deal.
Working on figuring out a way to potentially initially register the vehicle in Florida while doing the finance deal (i.e. finally get around to getting a Florida license - they allow "part time" licenses and allow you to keep your state license. Register the car in Florida (Miami - Dade county is the deal place) - have the tags sent to us in Texas; and re-register the car in Texas later this year. As we have a condo in Miami - I already consider myself a "part-time" resident - we spend 3-4 months a year there; just never thought about getting a FL Drivers License.
Anyone ever done this before?
Will be a big savings on the monthly payment -- our monthly taxes will be arounmd $65 a month (total payment 1103) vs $262 for Texas Taxes (the 6300 / 24 months), or a payment of 1301. Nearly $200 month savings over 24 months, $4800 (or in my mind, close enough to call it $5K).
#150 of 654 Re: Good Lease $ for a 2008 750Li? [zornesp]
by kyfdx@Edmunds HOST
Apr 12, 2008 (6:08 am)
I'm not real familiar with Texas tax regulations.. but, I think you'll have a hard time bringing in a leased car, without paying tax on it.. Even though you'll be titling it in Florida, it will be owned by BMWFS, not you...
My guess is that it won't be any different from a Florida resident moving to Texas with a leased car.. If they are only paying tax on the payment in Florida, they'll have to pay Texas taxes on the value of the car, once they move. It's not the same as owning a car that you've already paid the full tax on..
So... if you can lease the car as a Florida resident, more power to you... but, I think you'll have to keep the Florida registration for the entire term of the lease to realize any savings.
#151 of 654 750Li Dealer Incentives for May 2008
May 04, 2008 (3:40 pm)
Two questions. I am looking at a 2008 750li with a MSRP of 91,975. Is there still an incentive for this vehicle, similar to the $5000 that was due to expire on April 30? With a cap cost of $80k what would the 24 month 15k mi. payment be using the May rates?
#152 of 654 Re: 750Li Dealer Incentives for May 2008 [jackk1]
May 04, 2008 (7:45 pm)
That $5000 has been extended to 5/5 so you still have 1 day. I believe April Rates have also been extended through 5/5.
Cap cost of 80k is pretty good on your build, and that does mean you are getting the 5k. rebate included. I hope that is with zero down!
Based on April rates (again extended through 5/5) your
monthly payment should be (before taxes) $1121.91
If you add 7 refundable security deposits your payment will be $1053.41
Also just for example if you do 12k instead of 15k lease you will lower your payment to $1048.94 ($979.45 with 7 MSD)