Good Lease Deal?

src5tt · 11-14-2007, 04:51 PM

Hi all, first let me say it's nice to be here. I used to own a E30 3 series and now currently have a 99 Accord Coupe. I'm looking to get back in the BMW family with a 335I. I'm looking to do a 3 year lease, 10,000 miles per year. Here is what i was quoted by a local dealer in MD.

Just wandering if this is a fair deal. It seems to me like most are paying only a little if any money down on leases.

Thanks in advance! I look forward to getting to know everyone and being an active contributor.

From the dealer

On a 3 years lease in DC doing 10,000 miles you are looking at a payment of $692 with just your taxes, your 2 years tags fee and your 1st payment which adds up to $3,442.61 out of pocket.

Model 0833 335i Cp 40800

Color Space gray 475
Upholstery KASW Black Leatherette N/C
Options ZSP Sport Package 1,100.00
2C6 18" wheels w/performance tires N/C
481 Sport seats N/C
840 Increased top speed limiter N/C
205 STEPTRONIC automatic trans. 1,275.00
2XA Sport steering wheel w/paddles 100
494 Heated front seats 500
4AD Brushed Aluminum trim N/C
6FL iPod and USB adapter 400
Net Total 44,650.00
Destination Charge 775
Total Suggested Price 45,425.00

thegeneral101 · 11-14-2007, 05:02 PM

welcome to the forums! it looks pretty reasonable to me. do you know what money factor they used?

creshando · 11-16-2007, 02:40 AM

I'm not sure that I would be happy with that deal. I tried to work backwards from your numbers and it looks like you are not getting much of a discount off of MSRP. With that cap reduction I would expect you to be just south of $650/mo. Using my calculator with your specific options, I just plugged in some numbers from a quote that I got last week for a friend (from an MD dealer) and with a 36mo/10k lease the numbers were $718/mo with $1468 down. With 3 MSDs, that payment would be $703/mo (total about $3700 at signing with $3k refundable). While its not the best deal I've seen out there, it definitely goes to show that your quote is a little high.

Keep in mind all these numbers are including MD tax which taxes the total negotiated price x 5% (the MD legislature is in the third week of a special session now and the results of that meeting will most like mean a new 6% sales tax by next year).

I think the best advice that anyone here can give you is that you need to understand the metrics of your deal. You need to know your negotiated price, money factor, and acquisition fee. These are all negotiable on your deal and all areas that dealers will make money.

One way that I like to compare lease deals (using the same configuration) is to figure out the total amount that the lease will cost me over the lease term. Using your quote from above that comes out to $27,662 (Your monthly x 35 + Initial Payment which includes the first payment) over three years. I think you can get that down.

GL

MAZNG · 11-16-2007, 10:52 AM

They're right - seems a little high.

I just ordered my 08 335i Cpe w/ an MSRP of $48420 - 36 month/ 10K mi. with absolutely ZERO $ due at signing, the payment will be $760 + tax (6%) = $806 based on this month's money factor and 58% residual. If it goes down when I take delivery, we'll reneg. the deal/ interest (which I'll be doing once the car is on the lot anyway).

good luck

Aija · 11-16-2007, 11:59 AM

mine was 3500 due at signing with 670/month.

15k/yr, 335 coupe with sport package, leather, metallic paint.

I think you can do better.

B Smooth · 11-16-2007, 09:32 PM

Quote:

Originally Posted by Aija

mine was 3500 due at signing with 670/month.

15k/yr, 335 coupe with sport package, leather, metallic paint.

I think you can do better.

Wow, you guys in MD pay a LOT! I JUST went today to my friend(albeit he is the manager of a BMW dealership) and quoted me at an 08 335i with sports package, premiums, and heated seats. it was 15k a year, for 36 months. Nothing out of pocket except taxes, first month payment, and that other bs(total $3589). The figure came to $559.00. For that much, come to NY and ill introduce you to him! haha That, AND if i put down 1400 at signing i could get the payment to $499.00.

P.S - Im in Long Island, NY

creshando · 11-17-2007, 12:53 AM

Quote:

Originally Posted by B Smooth

... quoted me at an 08 335i with sports package, premiums, and heated seats. it was 15k a year, for 36 months. Nothing out of pocket except taxes, first month payment, and that other bs(total $3589). The figure came to $559.00.

If you got that price, I hope you placed your order. I just don't get how you could possibly get that deal on a US delivered car. That sounds more like an ED delivery. The only way that I can see you getting that car at that price is if you paid $0 over invoice.

335i Coupe (Sport, Premium, Heated Seats)
45725 MSRP
42085 Invoice

0.00235 MF / 58% Residual (3yr/15k)

432.35 Rent
161.22 Interest
=============
593.57 PMT ==> Its $558.69 with a 3yr/10k...

B Smooth · 11-17-2007, 02:11 AM

Quote:

Originally Posted by creshando

If you got that price, I hope you placed your order. I just don't get how you could possibly get that deal on a US delivered car. That sounds more like an ED delivery. The only way that I can see you getting that car at that price is if you paid $0 over invoice.

335i Coupe (Sport, Premium, Heated Seats)
45725 MSRP
42085 Invoice

0.00235 MF / 58% Residual (3yr/15k)

432.35 Rent
161.22 Interest
=============
593.57 PMT ==> Its $558.69 with a 3yr/10k...

Well its either that, or take an auto 07 335xi with 4k miles on it, for 510 a month, fully loaded...The other option was without nav, but a year newer. He said he was giving me the employee discount, which is 500 over invoice. Like i said, anyone in NY, or anywhere looking to get a bmw, let me know. haha
BTW, it was also a manual 08 335i SEDAN, if that makes any difference.

Aija · 11-17-2007, 03:01 AM

Quote:

Originally Posted by B Smooth

Well its either that, or take an auto 07 335xi with 4k miles on it, for 510 a month, fully loaded...The other option was without nav, but a year newer. He said he was giving me the employee discount, which is 500 over invoice. Like i said, anyone in NY, or anywhere looking to get a bmw, let me know. haha
BTW, it was also a manual 08 335i SEDAN, if that makes any difference.

makes a major difference. 335 sedan is cheaper in MSRP and has a lower money factor rate.

B Smooth · 11-17-2007, 11:23 AM

Quote:

Originally Posted by Aija

makes a major difference. 335 sedan is cheaper in MSRP and has a lower money factor rate.

THat explains it...But he also said if i wanted the coupe, it would be $20 more a month...still lower than 600...I guess he is just giving me an incredible deal...

11-14-2007, 04:51 PM	#1
src5tt New Member 3 Rep 6 Posts Drives: Honda Accord Join Date: Nov 2007 Location: Washington DC iTrader: (0)	Good Lease Deal? Hi all, first let me say it's nice to be here. I used to own a E30 3 series and now currently have a 99 Accord Coupe. I'm looking to get back in the BMW family with a 335I. I'm looking to do a 3 year lease, 10,000 miles per year. Here is what i was quoted by a local dealer in MD. Just wandering if this is a fair deal. It seems to me like most are paying only a little if any money down on leases. Thanks in advance! I look forward to getting to know everyone and being an active contributor. From the dealer On a 3 years lease in DC doing 10,000 miles you are looking at a payment of $692 with just your taxes, your 2 years tags fee and your 1st payment which adds up to $3,442.61 out of pocket. Model 0833 335i Cp 40800 Color Space gray 475 Upholstery KASW Black Leatherette N/C Options ZSP Sport Package 1,100.00 2C6 18" wheels w/performance tires N/C 481 Sport seats N/C 840 Increased top speed limiter N/C 205 STEPTRONIC automatic trans. 1,275.00 2XA Sport steering wheel w/paddles 100 494 Heated front seats 500 4AD Brushed Aluminum trim N/C 6FL iPod and USB adapter 400 Net Total 44,650.00 Destination Charge 775 Total Suggested Price 45,425.00
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11-14-2007, 05:02 PM	#2
thegeneral101 Colonel 80 Rep 2,303 Posts Drives: '15 Z06,'13 750Li,'11 Raptor Join Date: Nov 2006 Location: Miami/Michigan iTrader: (0)	welcome to the forums! it looks pretty reasonable to me. do you know what money factor they used? __________________
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11-16-2007, 02:40 AM	#3
creshando Enlisted Member 0 Rep 33 Posts Drives: 2007 E90 335i - Montego BLU Join Date: Apr 2007 Location: Mont Co, MD iTrader: (0)	I'm not sure that I would be happy with that deal. I tried to work backwards from your numbers and it looks like you are not getting much of a discount off of MSRP. With that cap reduction I would expect you to be just south of $650/mo. Using my calculator with your specific options, I just plugged in some numbers from a quote that I got last week for a friend (from an MD dealer) and with a 36mo/10k lease the numbers were $718/mo with $1468 down. With 3 MSDs, that payment would be $703/mo (total about $3700 at signing with $3k refundable). While its not the best deal I've seen out there, it definitely goes to show that your quote is a little high. Keep in mind all these numbers are including MD tax which taxes the total negotiated price x 5% (the MD legislature is in the third week of a special session now and the results of that meeting will most like mean a new 6% sales tax by next year). I think the best advice that anyone here can give you is that you need to understand the metrics of your deal. You need to know your negotiated price, money factor, and acquisition fee. These are all negotiable on your deal and all areas that dealers will make money. One way that I like to compare lease deals (using the same configuration) is to figure out the total amount that the lease will cost me over the lease term. Using your quote from above that comes out to $27,662 (Your monthly x 35 + Initial Payment which includes the first payment) over three years. I think you can get that down. GL
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11-16-2007, 10:52 AM	#4
MAZNG I found Jesus...He was Hiding behiind my Sofa 75 Rep 957 Posts Drives: '15 MW F82 Join Date: Jun 2006 Location: SoFla iTrader: (14)	They're right - seems a little high. I just ordered my 08 335i Cpe w/ an MSRP of $48420 - 36 month/ 10K mi. with absolutely ZERO $ due at signing, the payment will be $760 + tax (6%) = $806 based on this month's money factor and 58% residual. If it goes down when I take delivery, we'll reneg. the deal/ interest (which I'll be doing once the car is on the lot anyway). good luck __________________ ///M South Car Club on Facebook
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11-16-2007, 11:59 AM	#5
Aija Captain 29 Rep 687 Posts Drives: 335Coupe 6-Speed! Join Date: Jan 2006 Location: California, Bay Area iTrader: (0)	mine was 3500 due at signing with 670/month. 15k/yr, 335 coupe with sport package, leather, metallic paint. I think you can do better.
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