Last post on Nov 17, 2013 at 4:16 PM
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BMW 6 Series, BMW M6, Car Leasing, Coupe, Convertible
#56 of 232 Re: BMW 6-Series: Lease Questions [Car_man]
Oct 09, 2006 (12:15 pm)
Thanks for the response. I talked to the manager again and he said that I should get the 2006 model b/c they are trying to get rid of it and I can negotiate a better selling price. He said that with the 2007, I wouldn't be able to negotiate much since it would be newly released and they never go under msrp. I know that the 07 will have higher residual values, but do you think that it's best to negotiate for the 06 or wait for the 07 with an unnegotiable price but higher res value?? Thanks.
#57 of 232 m6 lease
Oct 11, 2006 (11:17 pm)
I am looking at leasing a 2007 M6 in a little less than a year. I spoke to one dealer so far just to get a rough estimate on what lease payments would be if the car's sales price was approximately $100K. I got some outrageous payments; $2200 (no money down) and $1739 (with $14K down) a month with a 36 month lease 15K miles a year. Does this sound right to you??
I leased a 2005 545 (15K miles a year) a year ago with a selling price of $63K and $14K down for $513 a month. This lease is nowhere near the lease payment on the M6. The M6 is over 3x's more with the same money down. My friend suggested that since it is a rare care they can charge what they want, which I don't agree with.
Any info and calculations would be appreciated.
#58 of 232 Re: 650i Lease [Car_man]
Oct 13, 2006 (8:53 pm)
Thanks for your response. I appreciate your willingness to help. The residual that I was given by the dealer for '06 was 61% because it was a 10K Maximum. I am flexible as to whether the car I lease is an '06 or '07, provided the premium for the '07 is not too high. Again, many thanks.
#59 of 232 Re: BMW 6-Series: Lease Questions [knottyhottie]
Oct 19, 2006 (5:59 am)
You CAN get money off on the 07 models right now. Not only that, but you can get a lower money factor than BMW FS. I work for a leasing company and we offer 2007 650's at $2000 off MSRP. Not only that, but we can get a .00309 MF on these cars.
the BMW FS Program on these cars is NOT the way to go.
#60 of 232 Re: BMW 6-Series: Lease Questions [drlease]
Oct 20, 2006 (12:59 pm)
I've asked around a couple dealers and they don't have the 2007 650 in stock yet. Does a leasing company get access to certain cars before the dealership does? Or has the 07 650 been released in certain parts of the country already? I'm in Southern California. Also, do you have any leasing companies you can rec? Thanks for your help =)
#61 of 232 Re: BMW 6-Series: Lease Questions [Car_man]
Oct 26, 2006 (2:06 pm)
I really appreciate your help and input on all these leasing questions from me! =) I got to negotiate with a local dealer on the 07 coupe which I realize would be best for me to get. MSRP is $80,240 and the residual is 55% at $44,132. The adjusted cost that they're giving me is $76,815.88. The money factor is 0.00340 for 3 years, 15K miles. They said they need $4,500 down and my monthly payment will be $1,319.11 before taxes.
Does that sound right to you? Do you think I can negotiate down some more?? Any advice is welcome and appreciated! TIA
#62 of 232 Re: BMW 6-Series: Lease Questions [knottyhottie]
Oct 29, 2006 (5:38 am)
You're welcome, knottyhottie. If there is a huge difference between the selling price that you can negotiate on a 2006 model and the price that this dealer is willing to sell a 2007 model for it might be worth your while to lease a leftover '06 model. I would be happy to calculate sample lease payments on both a 2006 model and a 2007 model to show you what the difference would be like if you provide me with their MSRPs and selling prices.
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Oct 29, 2006 (5:40 am)
Wow, those certainly are some huge monthly payments, raja2. Given this car's lack of lease support and extremely high price, it definitely is going to be expensive to lease. I would be happy to use BMW's current lease program to estimate what your monthly payment should be like on the car that you are interested in right now. It would be a big help if you would provide me with its full MSRP and approximate selling price first though.
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#64 of 232 Re: 650i Lease [mpdreamer]
Oct 30, 2006 (2:19 am)
You're welcome, mpdreamer. BMW Financial Services' 36 month, 10,000 mile per year residual value for a 2007 BMW 650Ci is 58%. The residual for an otherwise identical lease off a 2006 model is 56%.
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#65 of 232 Re: BMW 6-Series: Lease Questions [knottyhottie]
Oct 30, 2006 (2:28 am)
No problem, knottyhottie. The dealer really doesn't need a $4,500 down payment. They are just asking you for one to make your vehicle's monthly payment look more reasonable. It is actually in your best interest as a consumer not to make any sort of down payment. I always advise consumers not to make down payments when leasing because if their leased vehicle is totaled in an accident or stolen and never recovered, their down payment essentially disappears.
The selling price that you were quoted for this car is reasonable IF it does not take the large down payment that you were asked for into account. I think that the money factor that you were quoted is slightly high, but not horrible. I just double checked the payment that you were quoted and came up with the exact $1,319.11 that you were told. So the bottom line is that this is a good payment for a lease with no down payment, but not a very good one for a lease with a $4,500 down payment.
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