Last post on Aug 31, 2013 at 7:25 PM
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BMW 3 Series, BMW, Sedan, Wagon
#9 of 28 2007 328xi end of lease
Nov 01, 2009 (8:00 am)
I have a 2007 328xi, with premium and cold weather packages, with 34,000 miles It's in good condition except for a few scratches on the front and rear bumpers. I'd like to finance the car through the dealer/BMW. I'm going off of memory, but here and the numbers the dealer gave me to finance my 328xi now that my lease is about to be over: $0 down, $572 per month, for 60 months. I should be able to get much lower that this right? I'm currently paying $600 (up from the original 591), with a 10,000 mile lease, zero down. Please advise.
#10 of 28 2007 328xi end of lease
Mar 26, 2010 (12:10 pm)
Sounds like you are getting ripped dude. I financed a brand new 2009 xdrive with cold weather (w/o premium package) for 670/mo 60mo, 0 down, tax title fees all rolled into the loan. only a 100 more/month over another 60 months? doesn't make sense
#12 of 28 07 328 end of lease
Jun 01, 2010 (7:32 am)
I have a 2007 328I coupe with one month to go on a 3 year lease. I negotiated a lease end purchase price of $20,500 at the beginning of the lease. (A lot of people are unaware that you can negotiate a lease end purchase price at the start of the lease). Doing so can really benefit you or hurt you depending on the car. I only put $2000 down with a monthly payment of $625. Current Mileage is 44,000. I have some scratches and rim dings that I know will cost me additional money to turn it. Knowing that I don't know if I should turn it in and pay the fees, finance the price I negotiated at the beginning of the lease, or get into another lease. I don't see why I would turn it in, can anyone confirm my decision with the info listed.
#13 of 28 Re: 07 328 end of lease [myamay73]
by Kirstie@Edmunds HOST
Jun 01, 2010 (10:08 am)
Well, no... we can't confirm your decision with the info listed. But, by making some guesses and asking follow-up questions, people can help.
My first assumption is that you like the vehicle. This is very important, because if you do NOT like it, you're probably not going to be happy keeping it regardless of the financial details. I'm going forward assuming you do.
I'm also going to assume that you were allowed 36,000 miles on your lease, and that you're over by about 8K now. If that's true, I'll calculate an average of $0.15/mile overage fee, and say you'll owe $1200 for the excess mileage. Let's assume another $1,000 for the dings and other fees.
Your purchase price looks to be right between private party & dealer retail, so that's reasonable. If you have the $2,000 for the fees you'd pay to turn it in, why not use that as a downpayment on the balance, then finance the remaining $18,500? This would cut your monthly payment by a LOT, or alternatively, reduce the loan period by a lot.
The only way I see it making good sense to turn in is if you're looking to lease another BMW, and for whatever reason, you can get them to waive fees. But still, if you're happy with the vehicle, you can reduce payment amount or interest you're paying if you keep it. Just my thoughts.... don't take my opinion as gospel.
#14 of 28 Lease End Buyout Option
Nov 12, 2010 (4:28 pm)
Hi - My BMW 328Xi coupe lease is ending in 6 months. I am not interested to keep the car, instead I want to swap it to any used 4 door BMW car/SUV. I recently received an email and a follow up call from BMW offering to waive 3 months lease ($2100) and lease disposition fee ($500 - I think). I have told the dealer that I will accept the offer if 5-6 months lease is waived. I haven't heard back yet and my questions are: Is this a good deal? Are there anyone who had better experiences? Will there be any other hidden fees or charges I should be aware of?
As information, I am significantly under lease mileage, about 10K miles less than the contract. And the 3 months lease payment waiver is reflected in my pay off quote, so I think the dealer is not offering anything extra.
#15 of 28 328i end of lease buy out price
Jul 12, 2011 (5:07 pm)
My 328i is nearing end of lease and I've been offered a residual value of 21,000. Is that reasonable ? I'm hoping to knock off 2K from the residual but that seems to be difficult.
The car is well within the mileage limit and in good condition.
Also do I HAVE to go to the same dealer from whom I originally leased the car ?
#17 of 28 Re: 328i end of lease buy out price [bmwleaser]
Jul 17, 2011 (8:27 am)
In an attempt to move cars during slow times, BMW and other manufacturers have done some dumb things. In order to make the payments attractive, they place the residuals unrealistically high.
Then when the cars go to the auction, they end up losing thousands of dollars on them. Some car manufactures seemed to have learned and others not.
Cars with high depreciation rate such as BMW are generally not good cars to lease because of low residuals.
Then some people want to negioate. the residual at lease end when they KNEW what it was when they leased the car in the first place.
If the car companies allowed this to happen, it would create a can of worms and it would undermine everything they put in writing!
Turning this around, if BMW made a mistake and set the residuals too low, they wouldn't be able to tell a customer..." Well, we know the residual is 20,000 but the car is actually worth 23,000 so if you want to buy it, it'll be 3000.00 more than we told you when you leased it"
Setting residuals is a tricky thing and it's hard to predict the future market.
Set the residuals too low and the payments won't be attractive.
Set them too high and they will lose money at auction time and they will have customers asking to pay less.
Honda did the same thing to themselves a couple of times but not like BMW has. They don't seem to learn.
#18 of 28 Re: 2007 328xi end of lease [larryjordanjr]
Dec 27, 2012 (9:59 am)
Did they (your BMW Dealer) offer to certify your BMW for you first, and then go with the buy option?