Leasing 2010

MR_UCF_NURSE · 09-28-2009, 09:43 PM

I have a 2010 335i arriving to the States this week. This is my first lease and was wondering if anyone could give me ANY advice or info i should look our for or ask about when leasing. Thanks in advance...

xrayz · 09-28-2009, 09:53 PM

Don't put any extra down payment, waste of money.

And if you have the cash available, buy multiple security deposits - you can buy 7, each reducing your money factor by 0.0007. So, the MF goes from 0.0020 (Sept rates) to 0.00151

7 security deposits will be about $6000 on your car, and you will get the full amount back at the end of the lease. This ends up being something like a 27% return on investment. Plus, if something happens to the car, the security deposit is refundable but a down payment is not.

jopa489 · 09-28-2009, 10:03 PM

Large down payments on leases are generally considered to be a waste, keep the money. Other than that, stay within the allotted miles (you can buy more up to 4 months before the end of the lease for a reduced rate). Probably shouldn't go mod-crazy either. The car needs to be returned bone stock, so doing a ton of mods usually isn't smart financially.

Enjoy the car. Leasing is good.

MR_UCF_NURSE · 09-28-2009, 10:10 PM

Thanks fellas....So when it says $5k due at signing on the website, is there anyway around that? Can I just go up with 3500 and put the rest in security deposits or keep the extra cash?

jopa489 · 09-28-2009, 10:16 PM

You can put whatever you want down. The less you put down, the higher your monthly payment will be.

There will be some fees, so you won't be able to do it for nothing out-of-pocket. But unless having a lower monthly is very important to you, I wouldn't do anything more than $1000 down toward the lease. Some would even consider that excessive. Save/invest the cash you would put down, and it should more than make up for the higher monthly.

purpl3ish · 11-28-2009, 11:52 PM

I'm thinking about doing this multiple security deposits too..how'd it work out for everyone else?

I never heard of it before..

FFBaller · 11-29-2009, 12:50 AM

You should be able to lease any 3 series for under invoice because of the Holiday credit.

Solonng · 11-29-2009, 01:31 AM

make sure that they don't screw you over for the dealer fees. i missed that completely because they put that in between the pages, which was bs.

KnightsCapone · 11-29-2009, 02:03 AM

what kind of dealer fees do you mean??

SteveMD · 11-29-2009, 09:17 AM

You should have done your due diligence prior to ordering the car. It's too late now. You should have nailed down your negotiated price and lease payment at the time of ordering the car.

Do you know what MF you are getting? Do you know the residual?

You're not going to get a good lease deal when your car is delivered and sitting in the showroom.

kgb1637 · 11-29-2009, 09:31 AM

Quote:

Originally Posted by SteveMD

You should have done your due diligence prior to ordering the car. It's too late now. You should have nailed down your negotiated price and lease payment at the time of ordering the car.

Do you know what MF you are getting? Do you know the residual?

You're not going to get a good lease deal when your car is delivered and sitting in the showroom.

Unfortunately this is true, I already had what was due before I ordered the car, what was due when it came in, and my monthly payment locked in when I ordered the car.

Ender514 · 11-29-2009, 09:42 AM

Quote:

Originally Posted by cruiseluva62886

I'm thinking about doing this multiple security deposits too..how'd it work out for everyone else?

I never heard of it before..

its better than putting a down payment. i did the multiple security deposits too.

purpl3ish · 11-30-2009, 12:31 AM

sounds good to me

aitsu · 11-30-2009, 03:53 PM

So, if you're against putting cash down towards a lease, what about trading towards a lease?
I assume that's a no-no as well?

kgb1637 · 11-30-2009, 03:58 PM

Quote:

Originally Posted by aitsu

So, if you're against putting cash down towards a lease, what about trading towards a lease?
I assume that's a no-no as well?

I would rather sell the car privately and hold onto the money from the sale. I have never put money down on a lease and never will.

etmathews · 12-05-2009, 12:24 AM

Quote:

Originally Posted by FFBaller

You should be able to lease any 3 series for under invoice because of the Holiday credit.

I got 2000 below invoice with the holiday credit.

KnightsCapone · 12-05-2009, 10:16 AM

can somebody explain the the whole putting security deposits down? I have no idea what that means? thanks

SteveMD · 12-05-2009, 10:39 AM

Quote:

Originally Posted by gavinlibra1974

can somebody explain the the whole putting security deposits down? I have no idea what that means? thanks

The money factor is reduced by 0.00007 for every additional security depsit you front. So if the security deposit is say $600, you can reduce the MF by putting down up to 7x$600 for a total MF reduction of 0.00049.

KnightsCapone · 12-05-2009, 05:30 PM

what is the reasoning for a security deposit on a lease?

SteveMD · 12-05-2009, 05:59 PM

Quote:

Originally Posted by gavinlibra1974

what is the reasoning for a security deposit on a lease?

The same as any kind of security deposit - like on an apartment for example.

If you turn the car in with damage beyond normal wear and tear, the security deposit is used to compensate BMW.

On your second BMW lease, the deposit is waived.

KnightsCapone · 12-06-2009, 10:56 AM

Thanks for the info Steve MD!!

gsxr23 · 12-13-2009, 05:30 AM

Agreed...some real good info from Steve on this topic. So if one additional security deposit reduces your MF by .0007 do we know how much that would reduce the payment?

09-28-2009, 09:43 PM	#1
MR_UCF_NURSE Black Metallic/Coral Red w/gray poplar wood trim 3 Rep 27 Posts Drives: 2010 M-sport 335i Coupe Join Date: Sep 2009 Location: Orlando iTrader: (0)	Leasing 2010 I have a 2010 335i arriving to the States this week. This is my first lease and was wondering if anyone could give me ANY advice or info i should look our for or ask about when leasing. Thanks in advance...
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09-28-2009, 09:53 PM	#2
xrayz Private 6 Rep 68 Posts Drives: 2010 335xi Join Date: Jul 2009 Location: MA iTrader: (2)	Don't put any extra down payment, waste of money. And if you have the cash available, buy multiple security deposits - you can buy 7, each reducing your money factor by 0.0007. So, the MF goes from 0.0020 (Sept rates) to 0.00151 7 security deposits will be about $6000 on your car, and you will get the full amount back at the end of the lease. This ends up being something like a 27% return on investment. Plus, if something happens to the car, the security deposit is refundable but a down payment is not.
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09-28-2009, 10:03 PM	#3
jopa489 Major General 124 Rep 6,594 Posts Drives: Anything with Wheels Join Date: Mar 2009 Location: USA iTrader: (9)	Large down payments on leases are generally considered to be a waste, keep the money. Other than that, stay within the allotted miles (you can buy more up to 4 months before the end of the lease for a reduced rate). Probably shouldn't go mod-crazy either. The car needs to be returned bone stock, so doing a ton of mods usually isn't smart financially. Enjoy the car. Leasing is good. __________________ X7 LCI // Incoming C7 ZR1 ZTK // Sebring + TRX // Hydro + Raptor Gen1 Roush // Tuxedo
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09-28-2009, 10:10 PM	#4
MR_UCF_NURSE Black Metallic/Coral Red w/gray poplar wood trim 3 Rep 27 Posts Drives: 2010 M-sport 335i Coupe Join Date: Sep 2009 Location: Orlando iTrader: (0)	Thanks fellas....So when it says $5k due at signing on the website, is there anyway around that? Can I just go up with 3500 and put the rest in security deposits or keep the extra cash?
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09-28-2009, 10:16 PM	#5
jopa489 Major General 124 Rep 6,594 Posts Drives: Anything with Wheels Join Date: Mar 2009 Location: USA iTrader: (9)	You can put whatever you want down. The less you put down, the higher your monthly payment will be. There will be some fees, so you won't be able to do it for nothing out-of-pocket. But unless having a lower monthly is very important to you, I wouldn't do anything more than $1000 down toward the lease. Some would even consider that excessive. Save/invest the cash you would put down, and it should more than make up for the higher monthly. __________________ X7 LCI // Incoming C7 ZR1 ZTK // Sebring + TRX // Hydro + Raptor Gen1 Roush // Tuxedo
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11-28-2009, 11:52 PM	#6
purpl3ish Major 785 Rep 1,069 Posts Drives: 2023 G80 Velvet Orchid M3 Join Date: Sep 2007 Location: Brooklyn, NY iTrader: (9)	I'm thinking about doing this multiple security deposits too..how'd it work out for everyone else? I never heard of it before..
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11-29-2009, 12:50 AM	#7
FFBaller Private 2 Rep 63 Posts Drives: 2010 328i Coupe, M Sport Pkg Join Date: Nov 2009 Location: NYC iTrader: (0)	You should be able to lease any 3 series for under invoice because of the Holiday credit.
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11-29-2009, 01:31 AM	#8
Solonng Captain 111 Rep 829 Posts Drives: Monacco Blue 335i coupe Join Date: Apr 2008 Location: Florida iTrader: (0)	make sure that they don't screw you over for the dealer fees. i missed that completely because they put that in between the pages, which was bs.
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11-29-2009, 02:03 AM	#9
KnightsCapone A pure fighting machine with only one desire - Win 23 Rep 280 Posts Drives: 2014 F10 M5 & 2015 F15 X5 5.0L Join Date: Dec 2008 Location: SLC, Utah iTrader: (3)	what kind of dealer fees do you mean??
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11-29-2009, 09:17 AM	#10
SteveMD Colonel 202 Rep 2,485 Posts Drives: 2016 F10 535i MSport Join Date: Dec 2005 Location: Raventown! iTrader: (3)	You should have done your due diligence prior to ordering the car. It's too late now. You should have nailed down your negotiated price and lease payment at the time of ordering the car. Do you know what MF you are getting? Do you know the residual? You're not going to get a good lease deal when your car is delivered and sitting in the showroom. __________________ 2006 E90 330i (retired) 2009 E90 335i (retired) 2012 E70 X5 50i M Sport (retired) 2016 F10 535i M Sport
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11-30-2009, 12:31 AM	#13
purpl3ish Major 785 Rep 1,069 Posts Drives: 2023 G80 Velvet Orchid M3 Join Date: Sep 2007 Location: Brooklyn, NY iTrader: (9)	sounds good to me
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11-30-2009, 03:53 PM	#14
aitsu Mmmmm.. torque.... 45 Rep 367 Posts Drives: Imola Red F80 M3 Join Date: Sep 2008 Location: Dallas Area, TX iTrader: (0)	So, if you're against putting cash down towards a lease, what about trading towards a lease? I assume that's a no-no as well? __________________ 2018 Imola Red F80 M3 ZCP 2016 Yas Marina Blue F82 M4 ZCP 2011 Le Mans Blue E92 M3 2010 Le Mans Blue E92 335i
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12-05-2009, 10:16 AM	#17
KnightsCapone A pure fighting machine with only one desire - Win 23 Rep 280 Posts Drives: 2014 F10 M5 & 2015 F15 X5 5.0L Join Date: Dec 2008 Location: SLC, Utah iTrader: (3)	can somebody explain the the whole putting security deposits down? I have no idea what that means? thanks
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12-05-2009, 05:30 PM	#19
KnightsCapone A pure fighting machine with only one desire - Win 23 Rep 280 Posts Drives: 2014 F10 M5 & 2015 F15 X5 5.0L Join Date: Dec 2008 Location: SLC, Utah iTrader: (3)	what is the reasoning for a security deposit on a lease?
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12-06-2009, 10:56 AM	#21
KnightsCapone A pure fighting machine with only one desire - Win 23 Rep 280 Posts Drives: 2014 F10 M5 & 2015 F15 X5 5.0L Join Date: Dec 2008 Location: SLC, Utah iTrader: (3)	Thanks for the info Steve MD!!
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12-13-2009, 05:30 AM	#22
gsxr23 Ruby Star 12 Rep 63 Posts Drives: 2009 E92 335xi 6mt Join Date: Jan 2009 Location: Erri-where iTrader: (1)	Agreed...some real good info from Steve on this topic. So if one additional security deposit reduces your MF by .0007 do we know how much that would reduce the payment?
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