Last post on Jun 10, 2013 at 10:34 PM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW 1 Series, Car Buying, Car Leasing, Coupe, Convertible
#31 of 230 Carman (or someone) help with final lease negotiations.
Jan 27, 2009 (8:20 am)
I am currently in the throws of negotiating a lease with local BMW dealer.
Its a 2008 135i convertible. Pretty much loaded. Dealer says lease rates are much better on the 2008's. They have located the car I wanted (options, colors, etc.) at another dealership.
What they are offering:
MSRP $50,950 - I confirmed this on Edmunds.com
Negotiated Price $47,800
Cost to ship to my local dealer is included in neg. price. (i think they said $500.00)
Money Factor .0007
36-month, 10,000 mile (3rd car wont be driven great amount)
Out of pocket at signing... $1,643.00. First month. + doc fees+security deposit + misc. Security deposti of $700.00 seems high?
They are charging me $925 acq fee from BMFS!!!??? Is this legit. Can I get them to waive or further drop the negotiated price. Didn't look like there were many customers around last week.
Is this a good deal. Seem like it if I compare to MF/residual guidelines and other deals I am seeing.
Any help/advice is appreciated.
#32 of 230 Re: Carman (or someone) help with final lease negotiations. [pilotnewbie]
Jan 28, 2009 (12:40 pm)
The buy rate on the lease is .0005 and the Acq. Fee is $725, so the dealer is marking both of these rates up to the maximum allowed by BMWFS, This is negotiatble. I would insist on them using the .0005 rate.
#33 of 230 starting the lease process
Feb 01, 2009 (9:40 pm)
I am thinking of leasing a BMW i128 convertible.
the dealer's price with options is $38,900.
The Edmunds skinny is :
- $35,050 Invoice,
- $37,286 TMV
I would like to get the payment to $520/mo or less. I have great credit.
I live in Memphis, Tennessee. The dealer here has no competitors.
1) is this monthly payment possible?
2) if possible, what do I need to challenge them on? (right now they are quoting $575/mo) - price, money factor, all above?
Is a longer term lease the option?
if they won't negotiate, and if you think this payment (or a lower one) is possible what should I do as a next step? Look in neighboring states?
What about the BMW select finance option (low payment but balloon at the end)?
#34 of 230 Re: starting the lease process [andy_martini]
Feb 04, 2009 (10:01 pm)
A recent update to my message:
I can't get their numbers to work.
MSRP - $38,000
Selling Price - $35,720 (the 6% they claim that is all they can remove out of the price)
Money factor - "295". Waiting for them to clarify if this is .00295 or 2.95%
Residual - 40%
lease term 60 months
The price they state is $646 per month. When I run this in lease calculators I get a sub-$500 number. I'm sure there are bank fees, etc they aren't telling me about and I am looking for some insight as to what they are liable to come back with.
Also, how is it they can't 'get below $646' but Volvo can offer a C70 for the same term length, $42000 MSRP, $36000 Selling Price for $525?
I like both cars but the BMW is a little more sporty and may suit me a little more.
What am I missing? What do I need to ask them? Are the numbers above correct? Where can I challenge them to drive more out of the price?
One final note, when I built this car at bmw usa online, they have an option BMW Select that returns a payment of $496. But the dealer says over $700. Seems a bit like false advertising.
As mentioned above I'm in Memphis (tax is 9.25%). Should I look outside the city? State?
Can someone please help?
#35 of 230 Re: Paid on a 135 2008 lease [bethyg]
Feb 12, 2009 (10:00 pm)
hey did you lease a 1 series yet?
#36 of 230 Re: Paid on a 135 2008 lease [fivewheeler]
Feb 12, 2009 (10:29 pm)
I didn't lease the i128 but I did get the car through the BMW Select program using BMW FS.
The banks for BMW and Volvo made leasing really unattractive. Low residuals and lots of up front fees drove the price up and dealers can only take so much out.
The BMW Select program gives a payment like a lease, but at the end you have to either pay the balloon (residual) or finance the balloon so it's a gamble if the car is not good at retaining value, but leases are too. At least in this option, you are buying the car and the rates were much better. Plus they are paying the first two months. And it came with 4 years maintenance.
I was able to build my own car online at bmwusa.com and get to different price points which returned the payment. It made a big difference because the dealers had no choice but to get there. Apparently the online site doesn't put in a lot of dealer markup so it gives you some leverage.
In the end they make money I got the car at the price I was willing to pay. Econ at work.
#37 of 230 128 coupe
Feb 20, 2009 (12:56 pm)
what is the current residual, money factor for 36months/10k miles? location is NJ.
#38 of 230 Re: 128 coupe [agni]
Feb 20, 2009 (1:51 pm)
.00260 and 60%*
*Numbers curtesy of Leasecompare via bimmerfest.com
#39 of 230 Re: 128 coupe [qbrozen]
Feb 20, 2009 (2:44 pm)
Thanks. MF becomes a bit less for returning BMW customers right? is it less than .00260 or the same for everyone?
#40 of 230 Re: 128 coupe [agni]
Feb 20, 2009 (4:23 pm)
I'm not really sure. Seems to be some confusion around that subject as we speak. I believe the rates posted are for returning leasees, which are available to everyone as long as non-returning leasees pay a security deposit.
If you are a returning leasee, I believe there may be some loyalty cash available.
You can try reading this