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      02-08-2012, 08:17 PM   #1
CLee
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328i Lease

Beware! first post newbie

I was lucky enough to go down today to BMW of Encinitas and test drive a Luxury Model 328i. It was pretty dam nice

I am not ready to pull the trigger but had the sales guy put together what a lease would look like. I tried to back into the numbers and for some reason his numbers make no sense to me.

Can somebody explain to me how the hell they came up with $712 per month with $5k down? I want to make sure i understand the math correctly when negotiating. He said residual is 65% and money factor is 0195. I stressed to him Tier 1 credit multiple times


Last edited by CLee; 02-11-2012 at 02:26 PM..
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      02-08-2012, 08:41 PM   #2
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thats crazy!

48,500 car with 5grand down should be 550 a month....dont know what your dealer situation is, but that place seems shady as fuk
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      02-08-2012, 11:28 PM   #3
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damn you can get a m3 for that price!
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      02-08-2012, 11:29 PM   #4
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Quote:
Originally Posted by CLee
Beware! first post newbie

I was lucky enough to go down today to BMW of Encinitas and test drive a Luxury Model 328i. It was pretty dam nice

I am not ready to pull the trigger but had the sales guy put together what a lease would look like. I tried to back into the numbers and for some reason his numbers make no sense to me.

Can somebody explain to me how the hell they came up with $712 per month with $5k down? I want to make sure i understand the math correctly when negotiating. He said residual is 65% and money factor is 0195

Stay away!
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      02-08-2012, 11:33 PM   #5
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Go on the BMW site, spec out what you want and see the lease pricing. No brainer....
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      02-11-2012, 09:21 AM   #6
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Encinitas BMW lease quote

Ha. I'm just trying to figure out how they came up with this number
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      02-11-2012, 09:41 AM   #7
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Doesn't matter how they got it.

Never step foot in there again.
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      02-11-2012, 10:12 AM   #8
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Originally Posted by bmw-nj View Post
Doesn't matter how they got it.

Never step foot in there again.
Pretty much this. A quote like that that and I rip it up in the managers face and thank him for wasting 2 hours.
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      02-12-2012, 10:50 PM   #9
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Yes, do not go back to that store. Your payment should be around the $550 range.
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      02-13-2012, 12:14 PM   #10
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I did the lease calculation with the given numbers at Edmunds.com. The numbers pretty much work out. My calculation came up to $690, but I may not have included all of the fees. From a pure numbers standpoint, the quoted payment looks about right. All you other people who claim the number should be "about $550", then that's a value judgement, not a numbers judgement. Compared to other states, the number may look extra high because in California, the sales tax is included in the monthly lease payment. And the sales tax in California is quite high (8.75%). I purchased my car at BMW Encinitas and I have had good luck with them. To the O.P., from a lease calculation standpoint, the number looks about right. However, you need to decide if the purchase price is at the point you want.

How to get the number? Google search for the Edmunds.com auto lease calculator. Type in the numbers. You have the purchase price. The money factor is 0.00195. The residual is (48545 * 0.65) = 31554. Looks like title and registration is about $400 which sounds right for a car with that price. You will not get the exact number the dealer does, but it's in the right vicinity.

Last edited by ibimmer954; 02-13-2012 at 12:23 PM..
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      02-14-2012, 06:03 AM   #11
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$700+ a month for a 3-series is insane. The lease programs on the new car will be garbage for a while as BMW lets the newness of the car drive customers into buys at full sticker. Once the sales slow the leasing will get better. These cars will be advertised at $399 a month by Christmas.
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      02-14-2012, 08:12 AM   #12
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Originally Posted by CombatNinja View Post
$700+ a month for a 3-series is insane. The lease programs on the new car will be garbage for a while as BMW lets the newness of the car drive customers into buys at full sticker. Once the sales slow the leasing will get better. These cars will be advertised at $399 a month by Christmas.
3-series is easily a $50k car, so mathematically leases are going to be over $500 a month.
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      02-14-2012, 11:25 AM   #13
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Quote:
Originally Posted by ibimmer346 View Post
I did the lease calculation with the given numbers at Edmunds.com. The numbers pretty much work out. My calculation came up to $690, but I may not have included all of the fees. From a pure numbers standpoint, the quoted payment looks about right. All you other people who claim the number should be "about $550", then that's a value judgement, not a numbers judgement. Compared to other states, the number may look extra high because in California, the sales tax is included in the monthly lease payment. And the sales tax in California is quite high (8.75%). I purchased my car at BMW Encinitas and I have had good luck with them. To the O.P., from a lease calculation standpoint, the number looks about right. However, you need to decide if the purchase price is at the point you want.

How to get the number? Google search for the Edmunds.com auto lease calculator. Type in the numbers. You have the purchase price. The money factor is 0.00195. The residual is (48545 * 0.65) = 31554. Looks like title and registration is about $400 which sounds right for a car with that price. You will not get the exact number the dealer does, but it's in the right vicinity.
$690 works out with 0 (Zero) down. The quote provided by BMW of Encinitas shows me putting $5k down. If I use the lease calculator on edmunds and include $5k down than my payment should be $530.

I know lots of dealers make up numbers and want to give BMW of Encinitas a shot but I just can't make sense of it.
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      02-14-2012, 12:06 PM   #14
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I think what should be considered is that this isnt a cheap car, and its silly to think about this in terms of what cheaper cars go for. But, what should also be considered is that you dont buy 50K+ cars with 0 down. These arent lexus or inifintis where you can get those types of deals. Id also recommend you pay the taxes upfront, its the easiest thing you can do to begin to lower your payments, or realize that you are also financing your taxes, something that makes no sense in the world. But, any way you look at it, its going to be an expensive car.
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      02-14-2012, 12:51 PM   #15
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Originally Posted by m630 View Post
I think what should be considered is that this isnt a cheap car, and its silly to think about this in terms of what cheaper cars go for. But, what should also be considered is that you dont buy 50K+ cars with 0 down. These arent lexus or inifintis where you can get those types of deals. Id also recommend you pay the taxes upfront, its the easiest thing you can do to begin to lower your payments, or realize that you are also financing your taxes, something that makes no sense in the world. But, any way you look at it, its going to be an expensive car.
+1
you nailed it on the head!
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      02-14-2012, 12:55 PM   #16
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Quote:
Originally Posted by m630 View Post
I think what should be considered is that this isnt a cheap car, and its silly to think about this in terms of what cheaper cars go for. But, what should also be considered is that you dont buy 50K+ cars with 0 down. These arent lexus or inifintis where you can get those types of deals. Id also recommend you pay the taxes upfront, its the easiest thing you can do to begin to lower your payments, or realize that you are also financing your taxes, something that makes no sense in the world. But, any way you look at it, its going to be an expensive car.
What incentive is there to put money down(cap cost reduction) other than lowering your monthly payment?
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      02-14-2012, 01:14 PM   #17
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Originally Posted by justinnum1 View Post
What incentive is there to put money down(cap cost reduction) other than lowering your monthly payment?
none.

save your hard earned money, and take on the higher payment.
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      02-14-2012, 01:17 PM   #18
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Quote:
Originally Posted by matt_335Ci View Post
none.

save your hard earned money, and take on the higher payment.
+1
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      02-14-2012, 01:59 PM   #19
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Originally Posted by CLee View Post
$690 works out with 0 (Zero) down. The quote provided by BMW of Encinitas shows me putting $5k down. If I use the lease calculator on edmunds and include $5k down than my payment should be $530.

I know lots of dealers make up numbers and want to give BMW of Encinitas a shot but I just can't make sense of it.
Some of it are the extra fees (except for the sales tax) you see in the above quote. There's probably a sizeable security deposit in there and probably the first months payment. You'd have to ask the dealer for a breakdown of the rest. There's probably a little of a cap reduction in there as well.
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      02-14-2012, 02:28 PM   #20
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Originally Posted by justinnum1 View Post
What incentive is there to put money down(cap cost reduction) other than lowering your monthly payment?
the incentive is the reduced premium you are paying for carrrying the debt...so if you are financing less money your payment is less and at the end of the day you've paid less in total.
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      02-14-2012, 02:29 PM   #21
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Originally Posted by matt_335Ci View Post
none.

save your hard earned money, and take on the higher payment.
were not talking major $$ here to be saved for retirement, what are you going to do with that extra $100 a month for ex? If you arent investing it in a way that makes up for the premium that you are paying each month, you have a losing proposition, financially speaking. But this is a personal choice, Im just speaking from my experience and what works for me.
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      02-14-2012, 04:25 PM   #22
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Originally Posted by m630 View Post
were not talking major $$ here to be saved for retirement, what are you going to do with that extra $100 a month for ex? If you arent investing it in a way that makes up for the premium that you are paying each month, you have a losing proposition, financially speaking. But this is a personal choice, Im just speaking from my experience and what works for me.
and if you total your car all that extra $ you put on the cap is lost. (at least that is what i have read?)
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