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Prices Paid: Buying & Leasing Experiences BMW X5 Lease Questions
793 messages, Last post on Aug 29, 2008 at 10:42 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: kyfdx (Jan 21, 2006 6:15 am) 2006 - 3 yr., 36000 mi lease Premium, Sport, Cold Weather, Navigation, Auto, $52.9k MSRP Dealer's first pass was $51.9k, 59% residual, .0014 money factor, $5k down (trade and/or cash)= ~$675 per month....I know I can do better with the money factor and base price...thoughts on this deal anyone?
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Replying to: mfinnerty003 (Jan 21, 2006 8:06 am) $50,900 Selling price ($2K off.. an average deal) $51,525 Cap cost (selling price + $625 acq.fee) 3yr/36K lease Residual 59% Base money factor .0010 Payment = $647/mo.plus tax. Due at signing: 1st payment, security deposit, license/title fees. ($1600-$1700) Never put $5K down on a lease... If you have trade equity, have them cut you a check for the balance.. Hope this helps, kyfdx Host-Prices Paid Forums
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Replying to: kyfdx (Jan 21, 2006 11:19 am) Also, regarding a security deposit, is paying a security deposit a trade off between a lower money factor (and thus lower monthly payments) and the risk that you'll never see the deposit again.
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Replying to: kyfdx (Jan 21, 2006 11:19 am) I have a 1999 Volvo sedan that is fully paid for and would like to trade in and Lease a BMW X5. Any thoughts on how I should deal the trade in into the Lease values. Thanks for any info Bodhi24 |
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Replying to: duncan66 (Jan 21, 2006 8:03 pm) As to the second question, I'm not sure what risk you are referring to.. regarding the security deposit. regards, kyfdx Host-Prices Paid Forums
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Replying to: kyfdx (Jan 22, 2006 4:21 pm) I was quoted the following 3.0 X5 3YR/36K miles Residual 59% money factor - .012 ($500 security deposit) or factor of .00135 (no security deposit) Assignment fee $895 Do the factors seems reasonable? What is the assignment fee for - I was told that it was a BMW Finance charge that could not be waived - is that correct? Should I expect some fees to be charged no matter what to cover paperwork/termination or something else. Thanks in advance for any help/comments |
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Replying to: duncan66 (Jan 22, 2006 6:33 pm) The base money factor is .0010.. w/security deposit.. The dealer is marking it up to .0012 for extra profit.. The maximum markup allowed by BMWFS is .0004, for a total of .0014.. The acquisition fee (aka bank fee or assignment fee) is $625.. I believe that BMWFS only allows them to mark it up $200 to $825. It's true.. this fee cannot be waived, except for an addition to the money factor of .0003... It is much better to pay it, or roll it into the lease payment.. There is a disposition fee at the end of lease.. but, that is waived, if you lease another BMW.. I leased a BMW just a couple of months ago.. Other than the $625 acquisition fee and the security deposit, my other charges came to $114 total.. That covered title/registration/license plates..etc.. So, it is definitely possible to do a lease deal without getting soaked with extras.. I've leased quite a few cars, and other than over-mileage charges, the largest "wear and tear" charges I've had is $70 for a cracked marker lens.. This included one car that had $9000 of body damage (repaired, naturally).. Every turn-in inspection I've had, has been more than fair.. I haven't seen any evidence that the security deposit has anything to do with it.. Most inspectors don't even know if you have one or not.... regards, kyfdx Host-Prices Paid Forums
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Replying to: kyfdx (Jan 22, 2006 8:16 pm) 1. GAP Insurance - the dealer tells me the BMWFS covers that automatically - is that true? or will I need to pay a separate amount for that when I pick up the leased car. 2. Disposition fee - is that a standard amount or can the dealer mark that up? (I realize that it will be waived if I lease a new BMW again) 3. Assignment fee - the dealer tells me that a sales tax is due on this fee. I'm in Massachusetts and while this may vary from state to state, I was curious on whether it is typically taxed by states etc. 4. I signed a motor vehicle purchase contract detailing the terms of our agreement (i.e. trade in (I have positive equity) as well as monthly lease payments and amount due at signing of lease etc). I am curious if there are any other "tricks", last minute fees or other items that are brought up when the lease is signed that I should be aware of or prepared for so as to avoid any surprises - just curious. Thanks in advance for any advice.
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Replying to: duncan66 (Jan 27, 2006 6:15 am) 2) $350.. the dealer isn't involved with this.. 3) $625 is base fee.. BMWFS allows the dealer to mark up by $200... Typically, this is taxed.. 4) If you have everything in writing, I would expect the deal to be exactly that.. If it isn't.. firmly insist on it.. Most BMW dealers don't play too many "last-minute" games.. They usually give you the bad news right up front..  regards, kyfdx Host-Prices Paid Forums |
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