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BMW 7 Series, Car Leasing, Sedan
#341 of 599 Lease Buy Out - to do or not to do
Nov 15, 2009 (5:07 am)
I am trying to decide whether to do a lease buy out on a 2007 750li, or lease a 2009. It is in excellent and almost pristeen condition and has 27,000 miles on it. the residual is $52,014. No repairs have been needed, just regular oil changes. This car has options that I like, and significantly, the back seat seems to have more room than the 2009.
Without seeing the car one dealer said BMW would want to bring the car up to BMW specs to certify it which may require tries, brakes, etc. and wiith the additional 2yrs or 50K miles on my current warranty and offered to sell it to me for the residual with financing at .9% for 36 months, $1585. month with zero down.
In looking at the lease agreement on this car, I see there was no "capitalized cost reduction" and that the "gross capitalized cost" was 86,112. The payments have been $1362./month for 36 months. Is the residual written in stone, or can I negotiate a better price? What would be reasonable given the amount that has already paid, or is that not a consideration?
I am new to this experience and could use some advice. The only reason I would want to lease a 2009, is if its much more prudent financially in the long run.
#342 of 599 Re: Lease Buy Out - to do or not to do [adefina]
Nov 15, 2009 (8:01 am)
I just leased the 2009 Li and I love it.
BMW gave $6000 in rebate to be uused as cap reduction.
The dealers are selling them at cost.
I used Multiple securites to get money factor down but it is already low at .00090, this is equal to 2.25%
Unless you plan on keeping the 2007 for more than a few more years I would say lease a new one. I would think payment should be in the $1100-$1200 range for 3 year lease
#343 of 599 Negotiating lease on 2009 with incentives
Dec 03, 2009 (7:46 am)
I am looking at leasing a 2009 750Li for 36 months/12,000 miles per year.
The MSRP of the car is 99,070. With incentives of 6000 plus dealer incentive of 3500, the quoted monthly lease payment including tax would be approximately $1400 with 2200 down which includes dealer and tag fees, plus first month's payment. According to Edmund's calculations, invoice would be $91,155 for this vehicle which includes a sports package. Local dealers have several 2009s remaining in this seemingly not popular color combination. We currently lease a 750Li. How do we determine if it is feasible to negotiate a better monthly lease payment? Thanks.
#344 of 599 Re: Negotiating lease on 2009 with incentives [adefina]
Dec 03, 2009 (9:09 am)
The dealer should be selling the car at around $7000 off not $3500. The $6000 is from BMW and does not hurt the dealer. According to you/Edmunds, the Dealer paid 91,155 and wants to sell at 95,500. He should be selling at invoice just to move it off the lot so he can sell more 2010's. Ask him what he is using for cap cost? and what is the money factor. What state do you live in??
#345 of 599 Re: Negotiating lease on 2009 with incentives [gryan]
Dec 03, 2009 (10:32 am)
Many thanks for your input. The money factor is .0013, but I don't know what he is using for cap cost. --We live in the state of Florida.
#346 of 599 Re: Negotiating lease on 2009 with incentives [adefina]
Dec 03, 2009 (11:12 am)
I believe it should be lower than .0013, i think maybe .00090, Ask him what is cap cost. My email is garjaradara.com. if you email me there i will send you a spreadsheet that i used last month. I asked about state because i am in Nj and it may be a little different here
#347 of 599 Need your advise!
Jan 11, 2010 (2:13 am)
I normally wouldnt be able to drive a 750, but I am thinking maybe I can get a great deal on one. I wondering if I get a 750 for 5k below invoice PLUS the 7500 BMW is giving in marketing support.
Also, does anybody know the money factor and residual value for Jan for the 09s?
#348 of 599 Re: Need your advise! [poorprof]
Jan 11, 2010 (11:43 am)
is that trunk money on 09
#349 of 599 Re: Need your advise! [zoran]
Jan 11, 2010 (10:31 pm)
I dont know what trunk money is. Edemunds.com calls it Marketing support
#350 of 599 Is it a good lease quotation in CA?
Jan 13, 2010 (2:45 pm)
2010 750 LI
Miles: 10,000 annual
CAP cost 84,550
Cash Down 5k
Total cap reduction 1,405
Monthly payment b/f tax 1,150