Is this a good lease?

moneymike713 · 09-17-2007, 05:59 PM

I am going to lease a 335 coupe with the following options:Metallic Paint, Sport, Premium, Nav, Heated Front Seats, Ipod Adapter, Comfort Access. I will be doing European Delivery and Multiple Security Deposits. I will have to put down 6400 (MSD) and put down my firs payment+fees so only 1000 and change out of pocket(I get back the 6400 at end of lease) My monthly payment is going to be around $775-780, good deal?

NSM · 09-17-2007, 06:03 PM

well not really, I guess if you get the 6400 back.. But I don't know why wyou would have to put the 6400 down in the first place... I'd try and get it for 680..

moneymike713 · 09-17-2007, 06:09 PM

6400 is a security deposit, you get it all back at the end of the lease. So there is no money technically down.

stooken · 09-17-2007, 06:37 PM

Numbers seem kinda high.

$6400 worth of security deposits to lower your MF. And even with ED, payments of $775-$780 seems a bit high. As stated before, you might be better off putting the $6400 as a down payment but no one is going to recommend that no a lease.

How many security deposits are you putting down? I think each one lowers your MF by 0.00015.

Might be easier if you list out all the details (cap cost, MF, residual, and etc)

BMWE90 · 09-17-2007, 06:57 PM

Each SD lowers it by .00007= max is .00049.
After the lease you get $6400 - $350 (lease end fee) back.

But those numbers do seem high. Go to leaseguide.com/calc.htm and play around with the numbers to see how much above invoice you're paying.

TurboFan · 09-17-2007, 08:43 PM

What is the MSRP? What is the negotiated sell price? Money factor? Residual? Term?

moneymike713 · 09-17-2007, 09:13 PM

ED invoice selling price was 44490. Lease payment 765.64 w/7 MSD'S total out of pocket 765.64+800 ( sec dep ) plus 7 X 800 + 5600 =7165.64 + plate fees plus 110. service fee to register the car. 36 month lease.

saosinned · 09-17-2007, 09:27 PM

I kept getting numbers that seemed high like that as well. Does NY have a mystery 6% leasing fee like downtown chicago does? There's apparently a 6% of your monthly payment fee to lease a car in the city of chicago.

Possibly you're running into something similar.

moneymike713 · 09-17-2007, 09:47 PM

Can anyone verify this? I dont know why the numbers are so high.

TurboFan · 09-17-2007, 10:49 PM

You haven't given me enough info to figure what the lease should be, but from what you've posted, no, not a great deal. Is it an 07 or 08? Deal on the 07 should be about 61% residual, .00249MF for 36 mos, 12k mi. You say ED invoice sell price??? That's the sell price? Invoice? That's good for a coupe. What was the MSRP?

E90RWC · 09-17-2007, 10:59 PM

I thought MSDs can't be used in NY?

Second, you won't get ALL your $6400 back at the end of the lease. It's not guaranteed. If you return your car with excessive damage, you better believe the dealer will be taking away a lot of that $6400.

Are you a first time BMW buyer or what cuz those numbers are through the roof really?!

moneymike713 · 09-18-2007, 04:56 PM

So is this because its an 08'? is it too late to order an 07'?

BMW F22 · 09-18-2007, 05:00 PM

Quote:

Originally Posted by moneymike713

So is this because its an 08'? is it too late to order an 07'?

It's definitely way too late to order an 07- production started on 08s a few weeks ago.

moneymike713 · 09-18-2007, 05:02 PM

Well I am in NY and a first time BMW buyer, but I dont think this should make the payment so high.

BMW F22 · 09-18-2007, 05:26 PM

Quote:

Originally Posted by moneymike713

Well I am in NY and a first time BMW buyer, but I dont think this should make the payment so high.

The thing is that dealers are not willing to discount new model years as much as they would for older ones. I mean if you're shopping for an 07 last month you might have gotten better deals but being on the E. Coast and ordering an 08 MY, you're pretty much at the dealer's mercy.

Have you considered doing an out of state lease and just have the car delivered to you? Just a thought.

moneymike713 · 09-18-2007, 05:31 PM

This is an out of state lease, it is from one of this sites recommend dealers (Irv Robinson), I just think the monthly is a bit high.

moneymike713 · 09-18-2007, 06:23 PM

Doing some research I came to the conslusion that the reason for such a high payment is most liekly the new money factor. If I order the car now I wont go for the ED until November and wont receive it until January. Does this mean I can get a better MF or am I stuck with the current one?

stooken · 09-18-2007, 07:23 PM

I'm sure you can lock it so it goes no higher than what you have now and if it goes down, the dealer will work with it. After all, the deposit is fully refundable from my knowledge.

moneymike713 · 09-18-2007, 07:57 PM

So no one is going to be able to get any lower than this do to the MF correct? Also people should take into consideration I have NO money upfront besides first months payment plus security deposits ( don't count it as anything because I will be getting it all back(

TurboFan · 09-18-2007, 08:31 PM

No one can give you a precise answer until you post the details of the lease.

moneymike713 · 09-18-2007, 08:52 PM

I did some math and if I put 10,000 down on a 4 year finance, I can have monthly payments for like 720. I think I'm just going to finance?

09-17-2007, 05:59 PM	#1
moneymike713 Second Lieutenant 25 Rep 208 Posts Drives: Montego 335 Join Date: Sep 2007 Location: NY iTrader: (0)	Is this a good lease? I am going to lease a 335 coupe with the following options:Metallic Paint, Sport, Premium, Nav, Heated Front Seats, Ipod Adapter, Comfort Access. I will be doing European Delivery and Multiple Security Deposits. I will have to put down 6400 (MSD) and put down my firs payment+fees so only 1000 and change out of pocket(I get back the 6400 at end of lease) My monthly payment is going to be around $775-780, good deal?
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09-17-2007, 06:03 PM	#2
NSM Modeldater 23 Rep 641 Posts Drives: BSM M6 Vert & BSM 1M Join Date: Dec 2005 Location: New England iTrader: (2)	well not really, I guess if you get the 6400 back.. But I don't know why wyou would have to put the 6400 down in the first place... I'd try and get it for 680..
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09-17-2007, 06:09 PM	#3
moneymike713 Second Lieutenant 25 Rep 208 Posts Drives: Montego 335 Join Date: Sep 2007 Location: NY iTrader: (0)	6400 is a security deposit, you get it all back at the end of the lease. So there is no money technically down.
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09-17-2007, 06:37 PM	#4
stooken Brigadier General 195 Rep 4,243 Posts Drives: E70 X5 Join Date: Apr 2007 Location: NOR*CAL iTrader: (2)	Numbers seem kinda high. $6400 worth of security deposits to lower your MF. And even with ED, payments of $775-$780 seems a bit high. As stated before, you might be better off putting the $6400 as a down payment but no one is going to recommend that no a lease. How many security deposits are you putting down? I think each one lowers your MF by 0.00015. Might be easier if you list out all the details (cap cost, MF, residual, and etc) __________________ 2010 E92 BSM 335i \| M-Sport \| ST Coils \| Linea Corse Lemans \| Cobb AP \| BMS DCI \| Cyba Tips
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09-17-2007, 06:57 PM	#5
BMWE90 Major 93 Rep 1,153 Posts Drives: E90 335 Join Date: Aug 2007 Location: Bay Area iTrader: (1)	Each SD lowers it by .00007= max is .00049. After the lease you get $6400 - $350 (lease end fee) back. But those numbers do seem high. Go to leaseguide.com/calc.htm and play around with the numbers to see how much above invoice you're paying.
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09-17-2007, 08:43 PM	#6
TurboFan Ski bum 383 Rep 6,198 Posts Drives: sideways Join Date: Aug 2007 Location: Knee deep in the pow iTrader: (8)	What is the MSRP? What is the negotiated sell price? Money factor? Residual? Term? __________________ 1999 e46 328i Ti Silver / Black[retired] 2007 e90 335xi Jet Black / Black[retired] 2011 e70 X5 35d Vermillion Red / Cinnamon 2011 e92 M3 LeMans / Fox Red extended
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09-17-2007, 09:13 PM	#7
moneymike713 Second Lieutenant 25 Rep 208 Posts Drives: Montego 335 Join Date: Sep 2007 Location: NY iTrader: (0)	ED invoice selling price was 44490. Lease payment 765.64 w/7 MSD'S total out of pocket 765.64+800 ( sec dep ) plus 7 X 800 + 5600 =7165.64 + plate fees plus 110. service fee to register the car. 36 month lease.
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09-17-2007, 09:27 PM	#8
saosinned Second Lieutenant 8 Rep 226 Posts Drives: 2004 325i (e92 335 ordered) Join Date: Jun 2007 Location: Chicago, IL iTrader: (0)	I kept getting numbers that seemed high like that as well. Does NY have a mystery 6% leasing fee like downtown chicago does? There's apparently a 6% of your monthly payment fee to lease a car in the city of chicago. Possibly you're running into something similar. __________________ (Ordered 6/22/07) 335i coupe / Titanium Silver / Coral Red / Gray Poplar / Sport Package / Navigation / Heated Seats / iPod
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09-17-2007, 09:47 PM	#9
moneymike713 Second Lieutenant 25 Rep 208 Posts Drives: Montego 335 Join Date: Sep 2007 Location: NY iTrader: (0)	Can anyone verify this? I dont know why the numbers are so high.
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09-17-2007, 10:49 PM	#10
TurboFan Ski bum 383 Rep 6,198 Posts Drives: sideways Join Date: Aug 2007 Location: Knee deep in the pow iTrader: (8)	You haven't given me enough info to figure what the lease should be, but from what you've posted, no, not a great deal. Is it an 07 or 08? Deal on the 07 should be about 61% residual, .00249MF for 36 mos, 12k mi. You say ED invoice sell price??? That's the sell price? Invoice? That's good for a coupe. What was the MSRP? __________________ 1999 e46 328i Ti Silver / Black[retired] 2007 e90 335xi Jet Black / Black[retired] 2011 e70 X5 35d Vermillion Red / Cinnamon 2011 e92 M3 LeMans / Fox Red extended
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09-17-2007, 10:59 PM	#11
E90RWC What you know about the twins? 21 Rep 989 Posts Drives: bmw Join Date: Oct 2005 Location: CA iTrader: (1)	I thought MSDs can't be used in NY? Second, you won't get ALL your $6400 back at the end of the lease. It's not guaranteed. If you return your car with excessive damage, you better believe the dealer will be taking away a lot of that $6400. Are you a first time BMW buyer or what cuz those numbers are through the roof really?!
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09-18-2007, 04:56 PM	#12
moneymike713 Second Lieutenant 25 Rep 208 Posts Drives: Montego 335 Join Date: Sep 2007 Location: NY iTrader: (0)	So is this because its an 08'? is it too late to order an 07'?
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09-18-2007, 05:02 PM	#14
moneymike713 Second Lieutenant 25 Rep 208 Posts Drives: Montego 335 Join Date: Sep 2007 Location: NY iTrader: (0)	Well I am in NY and a first time BMW buyer, but I dont think this should make the payment so high.
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09-18-2007, 05:31 PM	#16
moneymike713 Second Lieutenant 25 Rep 208 Posts Drives: Montego 335 Join Date: Sep 2007 Location: NY iTrader: (0)	This is an out of state lease, it is from one of this sites recommend dealers (Irv Robinson), I just think the monthly is a bit high.
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09-18-2007, 06:23 PM	#17
moneymike713 Second Lieutenant 25 Rep 208 Posts Drives: Montego 335 Join Date: Sep 2007 Location: NY iTrader: (0)	Doing some research I came to the conslusion that the reason for such a high payment is most liekly the new money factor. If I order the car now I wont go for the ED until November and wont receive it until January. Does this mean I can get a better MF or am I stuck with the current one?
	Appreciate 0 Quote

09-18-2007, 07:23 PM	#18
stooken Brigadier General 195 Rep 4,243 Posts Drives: E70 X5 Join Date: Apr 2007 Location: NOR*CAL iTrader: (2)	I'm sure you can lock it so it goes no higher than what you have now and if it goes down, the dealer will work with it. After all, the deposit is fully refundable from my knowledge. __________________ 2010 E92 BSM 335i \| M-Sport \| ST Coils \| Linea Corse Lemans \| Cobb AP \| BMS DCI \| Cyba Tips
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09-18-2007, 07:57 PM	#19
moneymike713 Second Lieutenant 25 Rep 208 Posts Drives: Montego 335 Join Date: Sep 2007 Location: NY iTrader: (0)	So no one is going to be able to get any lower than this do to the MF correct? Also people should take into consideration I have NO money upfront besides first months payment plus security deposits ( don't count it as anything because I will be getting it all back(
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09-18-2007, 08:31 PM	#20
TurboFan Ski bum 383 Rep 6,198 Posts Drives: sideways Join Date: Aug 2007 Location: Knee deep in the pow iTrader: (8)	No one can give you a precise answer until you post the details of the lease. __________________ 1999 e46 328i Ti Silver / Black[retired] 2007 e90 335xi Jet Black / Black[retired] 2011 e70 X5 35d Vermillion Red / Cinnamon 2011 e92 M3 LeMans / Fox Red extended
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09-18-2007, 08:52 PM	#21
moneymike713 Second Lieutenant 25 Rep 208 Posts Drives: Montego 335 Join Date: Sep 2007 Location: NY iTrader: (0)	I did some math and if I put 10,000 down on a 4 year finance, I can have monthly payments for like 720. I think I'm just going to finance?
	Appreciate 0 Quote