[funkytony]

Hi guys,
First of all, I am very new at this forum.
so if I make mistakes, just let me know, I will correct it ASAP.
Well, I am trying to get a new car and I saw this special lease offer.
what do you guys think? is it good deal?
by the way this is new 2007 BMW 328i Coupe.
I never had BMW before. also, I never had lease either.
I am thinking to spend about $300 a month for the monthly payment.
but I think I can handle $89 dollor more.... if I can get this deal...
also, is it pain in the a** to return the lease car? how about insurance? is it usually higher?
Thank you guys!!!!


http://www.bmwusa.com/vehicles/3/328...=4&duration=36

2007 BMW 328i Coupe Lease Offer
$389*/month for 36 months
Build Your 328i Coupe
Test Drive a 328i Coupe
Find a Dealer Near You

Vehicles registered outside of N.Y. Vehicles registered in N.Y.
$389 First month's payment $389 First month's payment
$2,500 Down payment $2,500 Down payment
$400 Security deposit $389 Security deposit
$3,289 Cash due at signing $3,278 Cash due at signing

*Lease financing available on 2007 BMW 328i Coupe vehicles, registered outside of NY, only at participating BMW centers on leases assigned to BMW Financial Services NA, LLC/Financial Services Vehicle Trust through January 31, 2007. Monthly lease payments of $389.00 for 36 months based on MSRP of $37,270.00 (includes automatic transmission). (Total lease payments including acquisition fee is $14,004.00). For vehicles registered outside of NY, $3,289.00 due at signing includes first month’s payment, down payment and security deposit. For vehicles registered in NY, $3,278.00 due at signing includes $389.00 first month’s payment, $2,500.00 down payment, and $389.00 security deposit.) Excludes tax, title, license, and registration fees. Lease financing subject to credit approval. Dealer contribution may affect terms. Lessee must cover insurance and all items not covered under the full maintenance program. At lease end, lessee will be liable for disposition fee ($350.00), any excess wear and use as set forth in the lease agreement and excess mileage charges of $.20 per mile for miles driven in excess of 10,000 miles per year. Purchase option at lease end for $22,735.00 excludes taxes. As shown: 2007 328i Coupe with Optional Metallic Paint, Sport Package, leather interior and 6-speed STEPTRONIC Automatic Transmission has a MSRP of $40,195.00. If registered outside of NY, $442.00/month with $3,392.00 due at signing includes $442.00 monthly payment, $2,500.00 down payment and $450.00 Security Deposit. Total lease payments including acquisition fee is $15,912.00. If registered in NY, $442.00/month with $3,384.00 cash due at signing ($442.00 first month’s payment, $2,500.00 down payment, and $442.00 Security deposit). Total lease payments is $15,912.00. Lessee acquires no ownership interest unless purchase option is exercised. See participating BMW centers for details and vehicle availability. For more information call 1-800-334-4BMW.
Special lease rates and pricing may not be reflected throughout www.bmwusa.com. All figures presented are estimates only. Actual selling price may vary. Please see your BMW center for details. *Full Maintenance covers all factory recommended maintenance on all MY 2006 vehicles and newer vehicles, as determined by the Service Level Indicator, for 4 years or 50,000 miles, whichever comes first. Exclusions from coverage: gasoline, gasoline additives, windshield washer additives, tires, wheels, wheel alignment, tire balancing and rotation. All work must be performed by an authorized BMW center. See the Service and Warranty information booklet for more details and specific terms, conditions and limitations. ©2007 BMW of North America, LLC. The BMW name and logo are registered trademarks.

[SteveMD]

The best advice I or anyone can give you is learn how a lease works and how to calculate it. Otherwise, you will lose!

This lease is based on MSRP and requires a down payment known as a capital cost reduction. Not good on either count.

Negotiate the price of the car first. Not sure where you live but $500 - $1500 over published invoice is reasonable based on members here on this forum.

Then find the money factor and residual - on the Bimmerfest.com 'Ask the dealer' forum.

Then calculate the lease. Learn how to do it longhand or on a calculator.

Others will chime in but that's the Cliff Notes version.

Walk into any dealership without a total understanding of leases and you are easy prey and WILL pay too much.

As to your other questions, return of the leased car requires an inspection by a BMW representative. The car must have no damage and good tires. Your insurance may be higher since you will be required to have a certain level of liability coverage. Not sure what you have now.

[STE92VE]

Not a good deal IMHO....starting price is MSRP (can get lower price for 328i), cap cost reduction is $2500 which means if the car gets stolen or totaled the day you drive it off the lot you are out $2500. There are better deals to be had out there, just do your homework.

[horatiub]

In my opinion: never put money down on a lease, other than the security deposit and all the mandatory fees.

[dmboone25]

This looks good at first glance, but when you read the fine print, you realize there is a large down payment and only 10K miles a year. I was able to get my 328i E92 for around $450 a month--but that is with 15K miles a year, $1350 off sticker, and mats/exhaust tips thrown in. Like others have said, you have to go in and negotiate the best deal possible--if you take the one they are offering, then they are still getting more out of you than they have to!

[funkytony]

Thank you guys!!
These informations are great!
I will put these in my mind.

:rocks: :rocks:

[abc]

Originally Posted by horatiub

In my opinion: never put money down on a lease, other than the security deposit and all the mandatory fees.

yes of course, but it's not the norm to get a no money down lease deal w/ bmws esp. new models. a guy who has no prior relationship w/ the dealer would have even less chance of having this situation.

[abc]

Originally Posted by SteveMD

Walk into any dealership without a total understanding of leases and you are easy prey and WILL pay too much.

As to your other questions, return of the leased car requires an inspection by a BMW representative. The car must have no damage and good tires. Your insurance may be higher since you will be required to have a certain level of liability coverage. Not sure what you have now.

that's sad though, the dealers are out to squeeze you unless they 'feel' you're packing some ammo. it shouldn't work like that... but they're an industry that as a whole have pretty much held on to age old practices w/o much industry change by regulators.

anyway, when leasing, are you typically required to have FULL coverage insurance?
when you're financing a car, i believe you pretty much are.