HELP me. How does this LEASE sound.

choiffer · 10-23-2007, 06:33 PM

Alright guys,

My car is FINALLY arriving either this week or next week and I was originally planning on financing the car, but decided maybe leasing it would be better so maybe I can move onto something different later (maybe M3). I asked my CA for the lease rate and this is what he told me,

2008 335i coupe
MSRP - 48,225

$4,005.82 Down

Money Factor - .00250
Residual - 58%
2 year / 15k
$789 + tax. / month
Buy-out $32,793

If i do
3year / 15k
it would be 729 including tax
... didnt ask for buy-out because I was more interested in 2 year.

This is my first time leasing a vehicle, so I don't really know where to start.

How does this sound? I'm sure this is not that great of a deal, as I just asked for a rate? How much better can I do ?

THANKS FOR THE HELP.

DAN

///AFRO · 10-23-2007, 06:38 PM

WTF?!?!

Thats a BAD deal....

Heres mine..

2007 Alpine White 335i Fully Loaded

Except- Cruise Control and Active Steering and Park assistance.

MSRP-50k

3-year lease, 3k down, 10K miles a year with tax

640$ a month

Artz 330 · 10-23-2007, 06:38 PM

numbers seem high

Artkitekt · 10-23-2007, 06:40 PM

Yeah, but what's your credit score?

Quote:

Originally Posted by ///AFRO

WTF?!?!

Thats a BAD deal....

Heres mine..

2007 Alpine White 335i Fully Loaded

Except- Cruise Control and Active Steering and Park assistance.

MSRP-50k

3-year lease, 3k down, 10K miles a year with tax

640$ a month

Artz 330 · 10-23-2007, 06:40 PM

Quote:

Originally Posted by ///AFRO

WTF?!?!

Thats a BAD deal....

Heres mine..

2007 Alpine White 335i Fully Loaded

Except- Cruise Control and Active Steering and Park assistance.

MSRP-50k

3-year lease, 3k down, 10K miles a year with tax

640$ a month

that seems right. I am 10k miles 3 years loaded to 48,800. I got the car discounted and I pay 700 a month with no money out of pocket. Sign and Drive. its $20-22 per thousand. that seems right.

Artkitekt · 10-23-2007, 06:44 PM

Sounds realistic if your credit score is around 500-600. I would take some of the DP and put it towards a 2nd security deposit which will bring your MF down 4 points and you'll get that money back at lease end.

Sedan_Clan · 10-23-2007, 06:46 PM

His car will have 15k more miles (..at lease end) than you guys stating that it's a bad deal. Different circumstance!

Choiffer, try to work the deal a bit more. Is your CA willing to budge on the price of the car? You should be able to get it just under $700 a month on a 3 year lease.

Orient330iNYC · 10-23-2007, 06:47 PM

Quote:

Originally Posted by Artkitekt

Yeah, but what's your credit score?

does not matter. bmwfs is pass or fail for promotional rates. (any rate lower than 0.00310 is promotional)

the october program has a residual of 68% not 58% for a 24 month lease.

OP: it looks like you're getting a 15 point markup on the MF versus the max markup of 40 points. not horrible. I'm guessing they arent discounting off of MSRP

Sedan_Clan · 10-23-2007, 06:48 PM

Quote:

Originally Posted by Orient330iNYC

does not matter. bmwfs is pass or fail for promotional rates. (any rate lower than 0.00310 is promotional)

the october program has a residual of 68% not 58% for a 24 month lease.

OP: it looks like you're getting a 15 point markup on the MF versus the max markup of 40 points. not horrible. I'm guessing they arent discounting off of MSRP

Exactly what I was thinking!

Orient330iNYC · 10-23-2007, 06:50 PM

Quote:

Originally Posted by Artkitekt

Sounds realistic if your credit score is around 500-600. I would take some of the DP and put it towards a 2nd security deposit which will bring your MF down 4 points and you'll get that money back at lease end.

each security deposit past the first gives a reduction of 0.00007 or a max of 0.00049 if you put down 7.

again, BMWFS is Pass/Fail for any supported lease rates. you probably would not be approved even with tiered rates with a score below 600

choiffer · 10-23-2007, 06:55 PM

Alright guys.... First of all my Credit score is around 780 so that is not a problem. I already have 1k down as a security deposit which is waived in the lease. I got $750 off of MSRP I could have gotten more at a different dealership, but decided to stay local.

So I should be looking at under 700 a month including tax with 3k down?

E90RWC · 10-23-2007, 06:56 PM

Way too much down...

1st payment, DMV + paperwork fees should be your only drive-off.

That should be no more than $1000, unless you have to pay the taxes on the lease up-front in PA?

Orient330iNYC · 10-23-2007, 07:01 PM

Quote:

Originally Posted by choiffer

Alright guys.... First of all my Credit score is around 780 so that is not a problem. I already have 1k down as a security deposit which is waived in the lease. I got $750 off of MSRP I could have gotten more at a different dealership, but decided to stay local.

So I should be looking at under 700 a month including tax with 3k down?

are you waiving the security deposit? there's a 0.00015 MF adder right there.

TurboFan · 10-23-2007, 07:03 PM

Quote:

Originally Posted by choiffer

Alright guys,

My car is FINALLY arriving either this week or next week and I was originally planning on financing the car, but decided maybe leasing it would be better so maybe I can move onto something different later (maybe M3). I asked my CA for the lease rate and this is what he told me,

2008 335i coupe
MSRP - 48,225

$4,005.82 Down

Money Factor - .00250
Residual - 58%
2 year / 15k
$789 + tax. / month
Buy-out $32,793

If i do
3year / 15k
it would be 729 including tax
... didnt ask for buy-out because I was more interested in 2 year.

This is my first time leasing a vehicle, so I don't really know where to start.

How does this sound? I'm sure this is not that great of a deal, as I just asked for a rate? How much better can I do ?

THANKS FOR THE HELP.

DAN

Residual looks waaay too low. Should be over 63% for a coupe, 2 years. Maybe 61% for 3 years. Moneyfactor looks high. Should be about .002 - .0021 I think this month.

Check your credit score, see if there are any errors. They can kill you, and sadly, they're rather common.

David 12 · 10-23-2007, 07:05 PM

Here is a deal someone posted over at Bimmerfest.com - It looks like he is somewhere in PA also. Note that this is a for a sedan.

"just signed for one of the last 2007 335i sedans

msrp 45420 (sale price 43365)
6sp
crimson/blk
prem, sport, heated seats, sirius, ipod/usb adapter

36mo/10k miles
only 711.07 due up front.

597.57/month"

Now that is a GREAT deal and it is for a 2007, but I would shoot for the mid 600 dollar range with little money down if I were you.

Orient330iNYC · 10-23-2007, 07:05 PM

need a little more info....

whats the cap cost reduction part of the money down. and does that payment include sales tax?

TurboFan · 10-23-2007, 07:05 PM

Also, never pay cap cost reductions on a lease. You're basically pre-pay those lease payments. Open a CD or on-line savings account, put the money there and use it to make payments. You'd never pre-pay your appartment rent, why pre-pay on the lease? If something happens to the car, you lose the pre-payment.

Sam Da Man · 10-23-2007, 07:09 PM

Hmm my car is 44k and i put about 4 k down to make the payments around 499 a month..keep searching and deff dont tell dealers how much u wanna pay a month.start with how much u want the msrp to be, go to emunds.com and ck the True MArket value and see if you can get that price. Also if your putting 4k down try to put that as multiple security deposits so you dont loose that money!

Revlis · 10-23-2007, 07:12 PM

Sounds sort of high... Whole point of a lease is that you don't have that large cash outlay, and payments are low...

You wouldn't drop $1k on a rental from hertz then pay your daily rental as normal right? Same sort of thing IMO.

I know their (BMWs) rates change a lot, but still figures seem tweaked... Pretty much what everyone else has said. Though with $4k down might as well just buy the damn thing.

Queenskid24 · 10-23-2007, 08:21 PM

Quote:

Originally Posted by ///AFRO

WTF?!?!

Thats a BAD deal....

Heres mine..

2007 Alpine White 335i Fully Loaded

Except- Cruise Control and Active Steering and Park assistance.

MSRP-50k

3-year lease, 3k down, 10K miles a year with tax

640$ a month

what was your total out of pocket?

aequitas330 · 10-23-2007, 08:47 PM

You should run away from that "deal" ... You can definitely do much better.

choiffer · 10-23-2007, 09:42 PM

I got discounted $750 off of msrp. which makes the sale price. $47.475
$1,000 - security deposit waived

alright so... My CA said it's not possible to have zero money down? I'm assuming he's lieing to me. After reading all your comments this is what I came up with.

I should be looking for
1. A higher Residual around 68%?
2. lower money factor someone said... although I think the 08 model money factors are higher than the 07s.

So with nothing down... I should be looking at around 720 a month for it to be a good deal?

Can someone confirm this.... As I have no knowledge of Leasing... I've been reading so much crap about leases, I'm just slightly confused now.

Help would be much appreciated.

Thanks Guys.

10-23-2007, 06:33 PM	#1
choiffer First Lieutenant 19 Rep 375 Posts Drives: 08 E92 335i Coupe Join Date: Jul 2007 Location: Philadelphia, Pa iTrader: (0) Garage List 2008 335i Coupe [0.00] 2006 G35 Coupe [0.00]	HELP me. How does this LEASE sound. Alright guys, My car is FINALLY arriving either this week or next week and I was originally planning on financing the car, but decided maybe leasing it would be better so maybe I can move onto something different later (maybe M3). I asked my CA for the lease rate and this is what he told me, 2008 335i coupe MSRP - 48,225 $4,005.82 Down Money Factor - .00250 Residual - 58% 2 year / 15k $789 + tax. / month Buy-out $32,793 If i do 3year / 15k it would be 729 including tax ... didnt ask for buy-out because I was more interested in 2 year. This is my first time leasing a vehicle, so I don't really know where to start. How does this sound? I'm sure this is not that great of a deal, as I just asked for a rate? How much better can I do ? THANKS FOR THE HELP. DAN __________________ 2008 335i Coupe Alpine White/Black Dakota
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10-23-2007, 06:38 PM	#2
///AFRO Stage 1 Juice Box - Boosted' 180 Rep 1,522 Posts Drives: 07 AW E92-335i TT Join Date: May 2007 Location: SoCal iTrader: (0)	WTF?!?! Thats a BAD deal.... Heres mine.. 2007 Alpine White 335i Fully Loaded Except- Cruise Control and Active Steering and Park assistance. MSRP-50k 3-year lease, 3k down, 10K miles a year with tax 640$ a month __________________ 2007 *335i* -Coupe Alpine White Mods: JB1 \| Exposed Intercooler \| Black Grills/Emblems \| Golf-Tee Mod \| Reflectors \| 35% Tints Next: Aero-Lip \| H&R Race Srings \| Dual Cone Intake \| Straight-Pipes Soon: 2006 ///M3 Coupe Imola Red - [CSL Project]
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10-23-2007, 06:38 PM	#3
Artz 330 Colonel 196 Rep 2,486 Posts Drives: Z4M, 335i, 135i Join Date: Dec 2005 Location: Lawrenceville, NJ iTrader: (4) Garage List 2006 330i [0.00]	numbers seem high __________________
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10-23-2007, 06:44 PM	#6
Artkitekt Private 12 Rep 50 Posts Drives: e92 335i Montego Join Date: Aug 2007 Location: Irvine, CA iTrader: (1)	Sounds realistic if your credit score is around 500-600. I would take some of the DP and put it towards a 2nd security deposit which will bring your MF down 4 points and you'll get that money back at lease end.
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10-23-2007, 06:46 PM	#7
Sedan_Clan Law Enforcer 25162 Rep 22,293 Posts Drives: '22 Chalk Gray Porsche C2S Join Date: Jun 2006 Location: ..in your rearview!!! iTrader: (26)	His car will have 15k more miles (..at lease end) than you guys stating that it's a bad deal. Different circumstance! Choiffer, try to work the deal a bit more. Is your CA willing to budge on the price of the car? You should be able to get it just under $700 a month on a 3 year lease.
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10-23-2007, 06:55 PM	#11
choiffer First Lieutenant 19 Rep 375 Posts Drives: 08 E92 335i Coupe Join Date: Jul 2007 Location: Philadelphia, Pa iTrader: (0) Garage List 2008 335i Coupe [0.00] 2006 G35 Coupe [0.00]	Alright guys.... First of all my Credit score is around 780 so that is not a problem. I already have 1k down as a security deposit which is waived in the lease. I got $750 off of MSRP I could have gotten more at a different dealership, but decided to stay local. So I should be looking at under 700 a month including tax with 3k down? __________________ 2008 335i Coupe Alpine White/Black Dakota
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10-23-2007, 06:56 PM	#12
E90RWC What you know about the twins? 20 Rep 989 Posts Drives: bmw Join Date: Oct 2005 Location: CA iTrader: (1)	Way too much down... 1st payment, DMV + paperwork fees should be your only drive-off. That should be no more than $1000, unless you have to pay the taxes on the lease up-front in PA?
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10-23-2007, 07:05 PM	#15
David 12 Major 129 Rep 1,048 Posts Drives: 2019 BMW X5 50i BSM, M Sport Join Date: Jan 2007 Location: Omaha iTrader: (0)	Here is a deal someone posted over at Bimmerfest.com - It looks like he is somewhere in PA also. Note that this is a for a sedan. "just signed for one of the last 2007 335i sedans msrp 45420 (sale price 43365) 6sp crimson/blk prem, sport, heated seats, sirius, ipod/usb adapter 36mo/10k miles only 711.07 due up front. 597.57/month" Now that is a GREAT deal and it is for a 2007, but I would shoot for the mid 600 dollar range with little money down if I were you.
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10-23-2007, 07:05 PM	#16
Orient330iNYC Brigadier General 1479 Rep 3,564 Posts Drives: 2023 X7 40i Join Date: Apr 2007 Location: Wall St iTrader: (2)	need a little more info.... whats the cap cost reduction part of the money down. and does that payment include sales tax? __________________ Present: 2023 G07 40i ZDH/ZDU/ZMP/ZMQ/2NH/ZPK/ZPP/ZRC/300/3AC Past: 2013 335i 6MT ZMM/ZDH/ZTP/3AG/494/508 Past: 2016 F34 335i xDrive ZCW/ZDA/ZDH/ZTP/ZMP/2V5/5DL Past: 2019 G01 M40i ZDA/2VF/ZPP/ZPX/688/3AC
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10-23-2007, 07:05 PM	#17
TurboFan Ski bum 317 Rep 6,198 Posts Drives: sideways Join Date: Aug 2007 Location: Knee deep in the pow iTrader: (8)	Also, never pay cap cost reductions on a lease. You're basically pre-pay those lease payments. Open a CD or on-line savings account, put the money there and use it to make payments. You'd never pre-pay your appartment rent, why pre-pay on the lease? If something happens to the car, you lose the pre-payment. __________________ 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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10-23-2007, 07:09 PM	#18
Sam Da Man Lieutenant Colonel 69 Rep 1,688 Posts Drives: SPACE GRAY '07 328i Coupe Join Date: Jul 2007 Location: Central NJ iTrader: (3)	Hmm my car is 44k and i put about 4 k down to make the payments around 499 a month..keep searching and deff dont tell dealers how much u wanna pay a month.start with how much u want the msrp to be, go to emunds.com and ck the True MArket value and see if you can get that price. Also if your putting 4k down try to put that as multiple security deposits so you dont loose that money!
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10-23-2007, 07:12 PM	#19
Revlis Now With 33% MORE Sarcasm Free! 157 Rep 3,462 Posts Drives: M4 i3 X3 Join Date: Feb 2007 Location: Phoenix AZ iTrader: (0)	Sounds sort of high... Whole point of a lease is that you don't have that large cash outlay, and payments are low... You wouldn't drop $1k on a rental from hertz then pay your daily rental as normal right? Same sort of thing IMO. I know their (BMWs) rates change a lot, but still figures seem tweaked... Pretty much what everyone else has said. Though with $4k down might as well just buy the damn thing. __________________ A BMW is Just a Car, it doesn't make you smart, handsome, clever, better, cool, or wealthy.
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10-23-2007, 08:47 PM	#21
aequitas330 Montego Blue FTW 56 Rep 1,110 Posts Drives: Montego Blue e90 328xi Join Date: Sep 2007 Location: Northeast iTrader: (0)	You should run away from that "deal" ... You can definitely do much better. __________________ Sig designed by Nikki:
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10-23-2007, 09:42 PM	#22
choiffer First Lieutenant 19 Rep 375 Posts Drives: 08 E92 335i Coupe Join Date: Jul 2007 Location: Philadelphia, Pa iTrader: (0) Garage List 2008 335i Coupe [0.00] 2006 G35 Coupe [0.00]	I got discounted $750 off of msrp. which makes the sale price. $47.475 $1,000 - security deposit waived alright so... My CA said it's not possible to have zero money down? I'm assuming he's lieing to me. After reading all your comments this is what I came up with. I should be looking for 1. A higher Residual around 68%? 2. lower money factor someone said... although I think the 08 model money factors are higher than the 07s. So with nothing down... I should be looking at around 720 a month for it to be a good deal? Can someone confirm this.... As I have no knowledge of Leasing... I've been reading so much crap about leases, I'm just slightly confused now. Help would be much appreciated. Thanks Guys. __________________ 2008 335i Coupe Alpine White/Black Dakota
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