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Prices Paid: Buying & Leasing Experiences BMW 1-Series Lease Questions
64 messages, Last post on Nov 06, 2009 at 5:40 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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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)? Cheers 
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Replying to: andy_martini (Feb 01, 2009 8:40 pm) 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? |
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Replying to: bethyg (Jan 05, 2009 4:23 pm)
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Replying to: fivewheeler (Feb 12, 2009 9:00 pm) 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. |
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what is the current residual, money factor for 36months/10k miles? location is NJ.
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Replying to: agni (Feb 20, 2009 11:56 am) *Numbers curtesy of Leasecompare via bimmerfest.com
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Replying to: qbrozen (Feb 20, 2009 12:51 pm)
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Replying to: agni (Feb 20, 2009 1:44 pm) If you are a returning leasee, I believe there may be some loyalty cash available. You can try reading this
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well the lease rates for 135i conv/coupe are around 260-280 which is pretty high. they have strong residuals (50% +) on 36 month standard leases and i've been checking on a forum and the last 4 months have seen high 260-280 lease rates on this car... all in all even with nothing out of pocket except bank, sec, first, and taxes rolled into payment you are taling 650+ on a loaded 135 convertible which is crazy for a sub 50k car car. any info on 3rd party MF for this car??? if the money factor was more appealing it would be worth it. i'd rather wait till either the MF comes down or another car piques my interest since money is very cheap now and 6.5% interest rate on a lease is highway robbery in my book. this is by no means an "exotic" car or something special like an s5 or r8 that dictates such a high money factor. |
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Replying to: qbrozen (Feb 20, 2009 3:23 pm) MSRP 32450 selling 30450 $437/month inlcuding tax for 10K 36 months zero down is this a good deal? |
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