Good Lease deal?

RyBMW · 09-12-2005, 10:20 PM

330i with sport, premium, cold, iDrive, sat radio, active steering.

36month lease 12K/year $600/month $4200(includes taxes, acquisition, first payment, security deposit, etc.) due at siging.

naruto · 09-12-2005, 11:13 PM

hummm check out the prestige website in NJ. They're running a promotion on leasing. 0 down $400 a month, but I don't know if you'll get all your options.

noflash · 09-12-2005, 11:19 PM

marcus330i · 09-12-2005, 11:44 PM

No sport, no nav, used car, and for the love of corn........NO STICK!!

(and apparently you have to be loyal to BMW....whatever that means......)

RyBMW · 09-13-2005, 03:38 AM

What prices are everyone paying for their lease?

Jeffelite · 09-13-2005, 07:50 AM

Ry, You should be able to save 1 or 2 thousand more. Especially with all those options.

petesamprs · 09-13-2005, 09:00 AM

Ry,
I just got a 330i lease in NYC/Northern NJ area for $1k over invoice. (PM me for dealer if you care). Just for comparison, I pay approx $520/month ($0 down) after 6% NJ tax on a very lightly equipped 330i (msrp of approx $38.8k).

Remember - some rules for leases:
1) always negotiate on selling price.
2) residual and money factor are set monthly by BMW, but the dealer is allowed to mark up the latter. make sure you're getting the base rate (currently at 0.0025, or 6%). residual will be a function of the months of the lease and the miles/yr.
3) never put money down. and if you're comparing lease deals, look at them with no money down for appples-to-apples comparison.

NY taxes will get you though - worse than NJ since you also pay tax on your interest.

RyBMW · 09-13-2005, 11:39 AM

Quote:

Originally Posted by petesamprs

Ry,
I just got a 330i lease in NYC/Northern NJ area for $1k over invoice. (PM me for dealer if you care). Just for comparison, I pay approx $520/month ($0 down) after 6% NJ tax on a very lightly equipped 330i (msrp of approx $38.8k).

Remember - some rules for leases:
1) always negotiate on selling price.
2) residual and money factor are set monthly by BMW, but the dealer is allowed to mark up the latter. make sure you're getting the base rate (currently at 0.0025, or 6%). residual will be a function of the months of the lease and the miles/yr.
3) never put money down. and if you're comparing lease deals, look at them with no money down for appples-to-apples comparison.

NY taxes will get you though - worse than NJ since you also pay tax on your interest.

Thanks for the info. My MSRP is $46,415.
I'm not putting anything down. Just paying taxes, acquisition, first month payment, security deposit, etc. up front.

I'm getting a residual of %62 (36month 12K/year) and a money factor of .0025 or 6%.

You're right about the NY taxes.

RyBMW · 09-14-2005, 12:19 AM

I believe it's $1165 above invoice. Good?

RyBMW · 09-14-2005, 02:38 AM

I'm gonna double check on the dealers numbers myself to make sure they didn't put any hidden fees in.
I'm a little wary of the amount due at signing. Taxes, first month payment, security deposit, acquisition fee, and processing fee shouldn't add up to $4200. If there is a desposition fee, do you pay it up front or when you return the car.

Anyone ever double check the numbers and find mistakes?

petesamprs · 09-14-2005, 08:08 AM

Can't you roll your taxes into your payments? Give me your details again (msrp, selling price, money factor, residual) and I'll doublecheck your monthly payment numbers. $4200 does seem high...I paid about $2k at signing including first months payment ($520), dmv fees(~300 for NJ), bmw acquisition fee ($625), and deposit ($550). But I pay tax on each payment.

Oh, and $1165 over invoice is good. Try to get to $1k over and you're golden. One thing to be careful of is what the dealer defines as "invoice". You and I know its just the invoice price of car + invoice of options + destination. But the dealer might add advertising and "redefine" your invoice as invoice + $300 or something like that. Your price of $1k over invoice, therefore, is really $1300 over. So just make sure both of you are clear what "invoice" really is.

RyBMW · 09-14-2005, 12:03 PM

I can roll my taxes into my payment but in NYC you also have to pay a surcharge.

MSRP: $46,415
Invoice: $42,675
Target Price: $44,125
Selling Price: $43,840

Money Factor: .0025 or 6%
Residual: 62%

petesamprs · 09-14-2005, 01:09 PM

Not sure what you mean by "target price" (and why your 'target' is lower than your current selling price), but assuming your selling price is your cap cost, and $0 down, I get a pre-tax monthly payment of $599.95. After 8.375% tax (manhattan rate), i get $650.20 a month.

This assumes destination is included in both your MSRP and selling price #s.

RyBMW · 09-14-2005, 01:49 PM

Sorry about the confusion.
The target price is the price you should go for. I got this from carsdirect.com.
The selling price is what I got. So the selling price is the cap cost. The selling price is lower than the target price.

Destination is included in both MSRP and selling price.

Are you really Pete Sampras? You can tell us.

09-12-2005, 10:20 PM	#1
RyBMW Major 78 Rep 1,038 Posts Drives: X5 Join Date: Jun 2005 Location: NYC iTrader: (1) Garage List 2012 BMW X5 [0.00] 2008 335i [0.00]	Good Lease deal? 330i with sport, premium, cold, iDrive, sat radio, active steering. 36month lease 12K/year $600/month $4200(includes taxes, acquisition, first payment, security deposit, etc.) due at siging. Last edited by RyBMW; 09-13-2005 at 03:52 AM..
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09-12-2005, 11:13 PM	#2
naruto Registered 0 Rep 4 Posts Drives: bmw 330ci Join Date: Sep 2005 Location: NY iTrader: (0)	hummm check out the prestige website in NJ. They're running a promotion on leasing. 0 down $400 a month, but I don't know if you'll get all your options.
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09-12-2005, 11:19 PM	#3
noflash Captain Caveman 148 Rep 1,715 Posts Drives: '06 325eyeyiyi Join Date: May 2005 Location: midwest iTrader: (0) Garage List 2006 325i [0.00]
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09-12-2005, 11:44 PM	#4
marcus330i Lieutenant 42 Rep 524 Posts Drives: 2006 330i 6spd Join Date: May 2005 Location: Point Loma, California iTrader: (0)	No sport, no nav, used car, and for the love of corn........NO STICK!! (and apparently you have to be loyal to BMW....whatever that means......) __________________ Realtor Mobile: 6spd / Sport / Prem / Navi / ED 3-30-06 73 3.0s/84 528e/90 525i/97 M3 4dr/99 M3 Conv/2001 330i/2004 545i ED/2006 330i ED June 05 You're in control...is there anywhere you want to go ? -------------------------
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09-13-2005, 03:38 AM	#5
RyBMW Major 78 Rep 1,038 Posts Drives: X5 Join Date: Jun 2005 Location: NYC iTrader: (1) Garage List 2012 BMW X5 [0.00] 2008 335i [0.00]	What prices are everyone paying for their lease?
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09-13-2005, 07:50 AM	#6
Jeffelite Private 7 Rep 75 Posts Drives: 335xi Coupe Join Date: Jul 2005 Location: Sylvania, Ohio iTrader: (0)	Ry, You should be able to save 1 or 2 thousand more. Especially with all those options. __________________ 330i Tit Silver, PP, SP, Cold Weather
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09-13-2005, 09:00 AM	#7
petesamprs Lieutenant 34 Rep 519 Posts Drives: . Join Date: Aug 2005 Location: northeast iTrader: (0)	Ry, I just got a 330i lease in NYC/Northern NJ area for $1k over invoice. (PM me for dealer if you care). Just for comparison, I pay approx $520/month ($0 down) after 6% NJ tax on a very lightly equipped 330i (msrp of approx $38.8k). Remember - some rules for leases: 1) always negotiate on selling price. 2) residual and money factor are set monthly by BMW, but the dealer is allowed to mark up the latter. make sure you're getting the base rate (currently at 0.0025, or 6%). residual will be a function of the months of the lease and the miles/yr. 3) never put money down. and if you're comparing lease deals, look at them with no money down for appples-to-apples comparison. NY taxes will get you though - worse than NJ since you also pay tax on your interest.
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09-14-2005, 12:19 AM	#9
RyBMW Major 78 Rep 1,038 Posts Drives: X5 Join Date: Jun 2005 Location: NYC iTrader: (1) Garage List 2012 BMW X5 [0.00] 2008 335i [0.00]	I believe it's $1165 above invoice. Good? Last edited by RyBMW; 09-14-2005 at 02:15 AM..
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09-14-2005, 02:38 AM	#10
RyBMW Major 78 Rep 1,038 Posts Drives: X5 Join Date: Jun 2005 Location: NYC iTrader: (1) Garage List 2012 BMW X5 [0.00] 2008 335i [0.00]	I'm gonna double check on the dealers numbers myself to make sure they didn't put any hidden fees in. I'm a little wary of the amount due at signing. Taxes, first month payment, security deposit, acquisition fee, and processing fee shouldn't add up to $4200. If there is a desposition fee, do you pay it up front or when you return the car. Anyone ever double check the numbers and find mistakes?
	Appreciate 0 Quote

09-14-2005, 08:08 AM	#11
petesamprs Lieutenant 34 Rep 519 Posts Drives: . Join Date: Aug 2005 Location: northeast iTrader: (0)	Can't you roll your taxes into your payments? Give me your details again (msrp, selling price, money factor, residual) and I'll doublecheck your monthly payment numbers. $4200 does seem high...I paid about $2k at signing including first months payment ($520), dmv fees(~300 for NJ), bmw acquisition fee ($625), and deposit ($550). But I pay tax on each payment. Oh, and $1165 over invoice is good. Try to get to $1k over and you're golden. One thing to be careful of is what the dealer defines as "invoice". You and I know its just the invoice price of car + invoice of options + destination. But the dealer might add advertising and "redefine" your invoice as invoice + $300 or something like that. Your price of $1k over invoice, therefore, is really $1300 over. So just make sure both of you are clear what "invoice" really is.
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09-14-2005, 12:03 PM	#12
RyBMW Major 78 Rep 1,038 Posts Drives: X5 Join Date: Jun 2005 Location: NYC iTrader: (1) Garage List 2012 BMW X5 [0.00] 2008 335i [0.00]	I can roll my taxes into my payment but in NYC you also have to pay a surcharge. MSRP: $46,415 Invoice: $42,675 Target Price: $44,125 Selling Price: $43,840 Money Factor: .0025 or 6% Residual: 62%
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09-14-2005, 01:09 PM	#13
petesamprs Lieutenant 34 Rep 519 Posts Drives: . Join Date: Aug 2005 Location: northeast iTrader: (0)	Not sure what you mean by "target price" (and why your 'target' is lower than your current selling price), but assuming your selling price is your cap cost, and $0 down, I get a pre-tax monthly payment of $599.95. After 8.375% tax (manhattan rate), i get $650.20 a month. This assumes destination is included in both your MSRP and selling price #s.
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09-14-2005, 01:49 PM	#14
RyBMW Major 78 Rep 1,038 Posts Drives: X5 Join Date: Jun 2005 Location: NYC iTrader: (1) Garage List 2012 BMW X5 [0.00] 2008 335i [0.00]	Sorry about the confusion. The target price is the price you should go for. I got this from carsdirect.com. The selling price is what I got. So the selling price is the cap cost. The selling price is lower than the target price. Destination is included in both MSRP and selling price. Are you really Pete Sampras? You can tell us.
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