Last post on Nov 17, 2013 at 4:16 PM
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BMW 6 Series, BMW M6, Car Leasing, Coupe, Convertible
#79 of 232 BMW 650i convertible - Lease Question
Jan 27, 2007 (9:06 pm)
Help. I'm trying to determine if the lease deal I'm being offered is decent. Am looking at a 2006 650i convertible with 2600 miles. Am being offered a lease factor of .00407 (approx. 9.77%?)by the dealership. Our tax rate is 8.25% where I live and car sales price is $79K. They want $6980 down. Lease would be 36 months w/ 18,000 miles/year, resulting in $1661.27/month. Does this seem like a reasonable deal or am I being taken for a bit of a ride?
#80 of 232 Re: BMW 650i convertible - Lease Question [marlasw]
Jan 27, 2007 (11:06 pm)
I just want to let you know, I was offered a deal on a new 2007 650i coupe, msrp of 81,500 something and sale price of 76900 only 2k down 1357 plus tax...Money factor of 3.62 through BMW of course. Get a new one, the residual will be higher & the factor lower. The conv is VERY close because of the higher residual than the coupe. I'd just get an 07 or assume someone's lease through swapalease.com. No money down and you can get some cars w/alot of extra miles!! Just qualify through the credit stuff & you'll be set to go!
#81 of 232 Re: 650i coupe lease [sodais350]
Feb 04, 2007 (7:54 am)
Thanks sodais350. BMW is not currently providing any lease support on the 2007 6-Series. As a result, if you were to lease one through BMW Financial Services right now, you would have to use its standard lease program. Its buy rate standard lease money factor varies by region, but it is currently around .00320. BMW FS' current 36 month, 12,000 mile per year residual value for the 2007 650i Coupe is 59%. Using this lease program, an MSRP of $85,595 and a $3,000 discount, I estimate that this car's zero down, pre-tax monthly payment should be around $1,317. BMW FS charges a $625 acquisition fee on every vehicle that it leases. Make sure that you don't pay more than this, BMW dealers try to mark this fee up all the time. You will have to pay a security deposit that is equivalent to your car's monthly payment rounded up to the nearest $50 increment at lease signing. BMW FS will waive its security deposit requirement in exchange for an increase of .00015 in the money factor that is used to calculate your car's monthly payment.
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#82 of 232 Re: BMW 650i convertible - Lease Question [marlasw]
Feb 04, 2007 (7:59 am)
Hi marlasw. BMW is not currently providing any lease support on the 2007 6-Series, but the money factor that you were quoted is still too high. BMW FS' buy rate standard money factor varies by region, but it should be around .00320 or so.
$6,980 is too much money to put down on a lease. I always advise consumers against making down payments on leased vehicles. Consumers who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered.
What is this car's MSRP? This number will enable me to see how much of a discount you are being given on this car and to use BMW's current lease program to estimate what your monthly payment should be. Off of the top of my head, I'd say that the lease payment that you were quoted is too high.
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#83 of 232 Many Thanks Car man!!
Feb 04, 2007 (8:22 am)
I just wanted to says thank you for this forum.
I recently found this website and posted to ask you some lease questions.
I have succesfully got my dream car 2007 650 vert, and I feel much better about my lease.
I have always been nervous about "getting taken" at the dealers, because it seems the consumer has a difficult time getting all the infomation. Your current information on residual values and money factors is very helpful! I now know I did not overpay and recevied a fair deal.
You are providing a very valuable service here, and I sincerely thank you for putting your time in and helping other people get into their dream cars at a fair and reasonable deal!
#84 of 232 Re: Many Thanks Car man!! [bmw650ci]
Feb 04, 2007 (11:36 am)
You're very welcome, Steve. Congratulations on your sweet new ride. I'm glad that you found this forum so helpful. Enjoy your new ride!
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Feb 07, 2007 (7:29 pm)
I hate to bug, but you seem to be able to answer all the right questions! I was inquiring on the 650i, but before any of that, I'm in LOVE w/the M6. Now I've ran across some used ones w/3k miles or less, 06 & 07's. There seems to be quite a few around and also have seen ad's for new 07's (some up to 5k off) and a lease payment for 30mos at 1499 or 1599 w/no money down except all the driveoff stuff. If I put down 6k (includeds tax on red, lic, 1st pymnt, etc.) is it possible on a new one to get to a 1350 payment before taxes???? I really like the interlagos blue...not avail on 650i. :'( Thanks in advance, Missi
#86 of 232 I need some help on a decision
Feb 20, 2007 (10:01 pm)
I know your a big hit on here..I don't really want to waste your time. Although my ? was just like everyone else. I recently took out a BMW M6 and a 650I for a test drive. I was fortunate enough for them to let me drive the M6 around the block. Although I wanted to lease the M6. So im talking to the sales person and he's giving me a list of quotes. Then i realized i think he is taking me for a fool. He tells me to put 50K down on a 2006 BMW M6 and a 36K month lease with 1300 month..the price for the M6 was about (102K) and I just went along with it and acted like it was the best deal. Then he tells me for a 650I if i put around 20K down then Id pay around 1000K month the whole price for the 650I was about (82K)..I left there making him believe i wanted those deal. I knew it was a rip off. Could you recommend what I should be paying on a 06 BMW M6 with about 10K down price of about 102k..If you could help me i would greatly appreciate it.
#87 of 232 Re: M6 lease [sodais350]
Feb 23, 2007 (3:09 am)
You're not bugging me at all, sodais350. The M6 certainly is a nice car. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the car that you are interested in for you if you let me know what these numbers are.
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#88 of 232 Re: I need some help on a decision [brandyf1]
Feb 23, 2007 (3:19 am)
You're not wasting my time at all, brandyf1. I'm always glad to help. Did you say that the salesperson who you spoke with wanted you to make a $50,000 down payment on your lease ?!?!? You were right to walk away from that deal. It's never a good idea to make a large down payment on a leased vehicle. I would be happy to give you an idea of what sort of lease payment you should expect to pay on this car, but I am going to have to make some assumptions. I am not very familiar with what the market for the M6 is like, so I don't know if dealers are providing discounts on it. For now I will assume that you are going to be given a $2,000 discount. I will also assume that you want a 36 month lease with 12,000 miles per year. According to my calculations, if you were to lease a 2007 BMW M6 Coupe with an MSRP of $102,000 and a selling price of $100,000 through BMW Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $1,567.
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