[chris328]

Hey all, new here, please bear with me! I was wondering what you guys have to say about this lease quote, I'm not exactly sure how to calculate the MF yet or anything like that (I'm pretty new to the technical details of leasing).

2008 328xi coupe brand new
AT
12k miles
black metallic
black leather interior

approx 5200 down, then 23 months @ $435.00 US



OR


2008 328xi coupe brand new
AT
12k miles
black metallic
black leather interior

approx 5200 down, then 35 months @ $442.00 US


Sorry about the lack of details that is the gist. Please help!!

Thanks

[BMW F22]

Sounds a little high IMO. It's not recommended that you put so much money down. I would suggested that you use the $5200 for multiple security deposits to lower your MF (you get most of it back at the end- $5200 - $350 I think). Go to www.leaseguide.com/calc.htm and play around with the numbers to get a better idea of what you should pay.

[iceh]

5200 down? Seems a bit steep. If they can approve you without any cap cost reduction, then do it. Paying money down on a lease is dumb unless it is the only way they will approve you.

[chris328]

Thanks for the reply, yeah, everyone is saying that about MSDs, but I haven't talked to the dealer about that yet. Regardless, the overall monthly (with or without initial deposit) is $575/mo. So you're saying that sounds high? I know an AT warrants some increase in price, also the 12k miles. Was hoping to see what some other ppl have seen 08 328xi coupes leasing for under those same terms. The problem is I am very new to this and I need to make a decision by TOMORROW :/

[BMW F22]

If the $5200 deposit is for cap cost reduction only then it's high. If it's including fees due at lease signing then it's not that bad. Still, I would recommend going with the MSD. Why the rush though?

[chris328]

The 5200 does include all fees due at signing (actually I think it's more like 5250, don't remember exactly). I first started out with a sedan and I decided I didn't like the look especially with the 09's coming out, the 08 sedan's look will be outdated in a few months (yawn!). So I asked the dealer to inquire into any coupes they had, he got back to me saying they had one down in New Jersey, that's the one I listed above, but he said we need to decide fast, I'm assuming cause he needs to have them ship it up here? He sounds like a reasonable guy (don't they all), but as this is my first lease I'm pretty much feeling my way through the dark, I really appreciate the help.

so right now I have three options

1) 328xi sedan @ 580.83/mo for 24 months
2) 328xi coupe @ 633.54/mo for 24 months
3) 328xi coupe @ 575.13/mo for 36 months


right now (3) is the best choice for me, but I'm concerned as to how it compares to other lease rates for similar packages (coupe, AT, 12k miles). The dealer already knows this is my first lease and also my first BMW so I'm a little concerned he might be preying on my noobness heh.

[BMW F22]

Go ahead and list your money factor, tax rate and as much info as possible about the deal so that we can provide you with more information. But to be honest, from just looking at the numbers it seems like without the money down, you're looking about $700 + a month for a car with very little options.

[chris328]

Unfortunately as this is my first lease/first BMW (the 06 328i in my profile isn't mine) I didn't even ask about any of the technical stuff like the cap cost, MF, LAF, etc. (not sure if I can still calculate that stuff without specific info from the dealer himself). All I asked was basically how much the monthly payment would be after the initial deposit (again, he said that included all fees due at signing). Tax rate in MA is .05 I believe.

The three rates I listed are with the downpayment and taxes rolled in, those are the full complete rates, the only thing I haven't added is a potential destination charge (?) if it has to ship from NJ.

[BMW F22]

I just ran a quick calculation for you and if the quotes that you got included tax then you're in good shape. It's a good deal IMO. If they don't include tax then it's still not that bad but could be lowered a bit.

[chris328]

Thanks, yeah I just basically took a crash course in lease calculations (great fun) and did them out myself, I have to verify on the MSRP and options, but given a supposed 1,200 credit for AT to the dealer and someone told me there was a mid-month money factor reduction in effect or .00040 through 7/31, with an MSRP of 40,600:

I was told that fair price = (MSRP*93%) - 1200 credit for AT + 1,000 dealer profit

So with a fair price of 37558

37558*.57 = 21408.06
37558 - 21408.06 = 16149.94
16149.94/36 = 448.61

interest = (negotiated price + residual)*MF
(37558 + 16149.94)*.00145 = 77.88

total = $526 + .05 tax = 552.34

dealer offered me $575. I'll have to check on exactly what the options and invoice are, but that's nearly an extra $900 over 36 months. Can't really say if it's a ripoff or not yet cause I have to verify the actual MSRP...if that were the actual MSRP, is the extra $23 a month getting ripped off, or is that normal.

[jorgediaz]

I wouldn't say it is a rule of thumb, but usually, under the 240 miles per week(385km) it is better to lease. Here is a nice table about that math: https://www.leasecosts.ca/en/article...more-385kmweek

[nissubaru]

Originally Posted by jorgediaz

I wouldn't say it is a rule of thumb, but usually, under the 240 miles per week(385km) it is better to lease. Here is a nice table about that math: https://www.leasecosts.ca/en/article...more-385kmweek

Holy shit, what a bump!!! This thread has been dead for 10 years!

[9krpmrx8]

LOL, I was like who the fuck is leasing a 2008 328.

[tcphoto]

Like children, newbies should be seen and not heard from. If you’re going to post try to at least make it current topic.

[hassmaschine]

While hilarious - this is spam, it's not a 'noobie'.

Unfortunately we all fell for the bait.

[F30lolz]

Originally Posted by chris328

Thanks, yeah I just basically took a crash course in lease calculations (great fun) and did them out myself, I have to verify on the MSRP and options, but given a supposed 1,200 credit for AT to the dealer and someone told me there was a mid-month money factor reduction in effect or .00040 through 7/31, with an MSRP of 40,600:

I was told that fair price = (MSRP*93%) - 1200 credit for AT + 1,000 dealer profit

So with a fair price of 37558

37558*.57 = 21408.06
37558 - 21408.06 = 16149.94
16149.94/36 = 448.61

interest = (negotiated price + residual)*MF
(37558 + 16149.94)*.00145 = 77.88

total = $526 + .05 tax = 552.34

dealer offered me $575. I'll have to check on exactly what the options and invoice are, but that's nearly an extra $900 over 36 months. Can't really say if it's a ripoff or not yet cause I have to verify the actual MSRP...if that were the actual MSRP, is the extra $23 a month getting ripped off, or is that normal.

So OP, dying to know if you leased the 08 sedan or 08 coupe? Do you still have it?

[BadContrakt]

I was bout to be like YO the dealership is scamming you hard AF you can't lease no 08 RUN FOR THE HILLS!