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BMW 1 Series, Car Buying, Car Leasing, Coupe, Convertible
Oct 26, 2010 (5:46 pm)
The wife and I just picked up a 2011 135i. It's our first BMW and we love it. It's a blast to drive. We went to the dealer looking to lease a 3 series but we fell in love with 135i. They had our car sitting on the lot and we got a great lease deal on it. Couldn't be happier. I can't believe more people don't know about this car.
Black Sapphire Metallic, Black Boston leather, Glacier Silver Aluminum trim, 7-speed DCT, M Sport Package, Premium Package, Value Package, Heated front seats, Harmon Kardon surround sound system and Satellite radio for 1 year.
$781 out of pocket (includes tax, all fees, plate transfer and first months payment) 36 month lease with 10,000 miles per year. Payment is $531.82 a month.
Not bad in my mind, especially since it includes all maintenance and a tire/wheel warranty at no extra charge.
#123 of 251 Re: Good deal? Value of tire/wheel warranty
Nov 01, 2010 (5:20 pm)
Sounds like a good deal although details for a Lease is not my specialty. I am interested in what dealer claimed as the value of the tire/wheel warranty. Does warranty replace alloy wheel and/or tire 'free' if run flat needs a replacement due to curb or nail damage? I will take deliver in a few weeks of a 135i conv. with almost same options as yours, from Huntsville BMW, and would like to be prepared for the last hour blitz of special 'deals' by finance dept. Thanks in advance.
#124 of 251 Total newbie - never leased, but...
Nov 21, 2010 (8:20 pm)
I really hope for help. I currently need second car, and was thinking about buying with CarMax (I've been their customer with quite few cars, and though, not perfect, they are decent choice) financing for 60 months, but then new deal for 135i coupe:
2011 128i Coupe Lease Offer
36-month lease well-equipped at $399*/month. $0 Down payment & includes a Holiday Credit of $1,500
Vehicle Registered outside N.Y.
• $399 First months payment
• $0 Down payment
• $0 Security Deposit
• $399 Cash due at signing
I am in Los Angeles. This information is from http://www.bmwusa.com/Standard/Content/FinancialServices/LeaseOfferDetail.aspx?e- - nc=QNzH/2RcovwrhE0mqkpggw== (BMW USA, so I think I can find this deal at local dealers w/o big problems).
Anyhow. I am very confused at what I am looking.
Let me try to break it down to see if I am right. Please, correct me.
Initial cash due is $399.
license and registration fees for ~35K car will be around ~$500.
First payment is $399 + tax (9.25%) = ~$440.
GAP coverage (have no idea, but as I recall it's between 500-800, so I'll assume the highest one) = ~$800
TOTAL AT SIGN UP: ~$2150
What else? Did I miss something?
Now, the monthly payments are $399 + tax (9.25%) = ~$440.
So, TOTAL EVERY MONTH: ~$440
Now, closing costs.
I think I need 12-15k/year, but it's only 10k/year provided, with $0.20/extra mile.
So, let's say I am not going to get their "plan" with extra miles.
Okay, so I'll just calculate that "extra".
Extra miles 5k/year * 3 years = 15K * $0.20 = $3000.
Disposition fee $350.
Tear and wear ???? -- how much this could be? What they are going to charge for? I never leased, so I have zero experience. Is it bad? How bad it could be?
Also, I heard that after lease ends dealer can sell the vehicle for less than actual bank owned money, so they can put charge on me (lesee!!) -- but not more than three monthly payments -- is that correct? Is it true? So it possibly (I am just assuming the worst) might be $440 * 3 = $1320.
To crown it all, it might be $2150 at the beginning, $440 per month for 36 months, and at max $4670 at the end. So, the total loss is about ~23K for 36 months, so less than $8K/year which looks pretty decent choice for driving new BMW.
What do you think? Can you help me? Guide me?
P.S. I also wonder how much would be the maintenance over those 36 months? If splitted the cost of maintenance over the period -- how much per month? Or at least for whole 36 months?
#125 of 251 Re: Total newbie - never leased, but... [westla7]
Nov 22, 2010 (2:30 pm)
First of all, disposal fee is plus tax which comes out to around $370.
"Wear and tear" can be for anything such as chips on the windshield in the line of vision which are of a certain size but this would be offset if your car insurance includes windshield replacement for such things. Other things are car dents or scratches which are quite large, leather or dashboard material damages of a certain size, replacemnt of warn tires (their fee is $200-400 per tire but is usually less than if you go to a tire store), bumper damage from scraping over parking space cement stops (which can be $300-$400), etc.
BMW is much more lenient and will let many or most of these things go if you are going to lease or buy with them again after the conclusion of your lease, and then too, there is no disposal fee.
Audi's disposal fee is about the same, in contrast to $600 disposal fee with Mercedes and "0" fee with Infiniti leases.
Hope this helps.
Nov 23, 2010 (7:48 pm)
What do you guys think of this lease deal?
2011 BMW 128i, 6 speed automatic, moonroof, bluetooth, and iPod connector.
36 month lease, 12k miles/yr, $2200 down (includes first month, registration, taxes) and $420 per month?
MSRP is around $34k, they dropped it to $32k plus and additional $1500 holiday credit.
#127 of 251 Re: Good Deal? [runofkings]
Nov 24, 2010 (9:54 am)
Your deal could be better, such as the cap. price.. They have good dealer incentives as the car has been slow moving.
#128 of 251 Re: Good Deal? [carnaught]
Nov 24, 2010 (10:23 am)
So, how should I push back on this? The acquisition fee seems bloated ($925), and there is a "rent charge" of $4,478. Is that negotiable? What would be a more reasonable down payment and monthly fee on this?
Here are some more specifics:
Gross cap cost: 33,725.00
#129 of 251 Re: Good Deal? [runofkings]
Nov 24, 2010 (11:22 am)
Check out on Edmunds the dealer invoice on the (itemized) car you'd be negotiating as well as their section on dealer incentives being offered: click here Then make your offer from there.
Better yet, on this board or other Carspace lease forum, address your specific lease questions in the subject line to "Car_man" who is the lease guru. It may take him several days to respond to your post but he'll guide you to the best lease deal better than most of us will.
#130 of 251 BMW 1 Series Coupe Lease Information
Nov 24, 2010 (9:35 pm)
Can anyone disclose what the residual value and current lease factor for a BMW 1 Series on a 36 month 12K Per Year Lease?
#131 of 251 Re: BMW 1 Series Coupe Lease Information [anijhaw]
Dec 02, 2010 (5:29 pm)
Hi anijhaw. According to the latest information that I have seen, BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2011 128i Coupe with 12,000 miles per year are .00125 and 58%, respectively.
When negotiating your lease on this car, make sure to take advantage of the $1,500 cash incentive that is currently available on leases of it.
Prices Paid: Buying & Leasing Experiences Forum