Bimmerfest - BMW Forums

Bimmerfest - BMW Forums (http://www.bimmerfest.com/forums/index.php)
-   F30 / F31 / F32 / F33 / F36 (2012 - current) (http://www.bimmerfest.com/forums/forumdisplay.php?f=153)
-   -   New and need some advice (http://www.bimmerfest.com/forums/showthread.php?t=589277)

sid369 12-22-2011 09:18 AM

New and need some advice
 
Hi all,

I am new to the forum and have never owned a BMW, however its the car that I have always wanted. I currently have a RAV4 V6. I am not a BMW enthusiast but I would love to own the car. For me owning a BMW means status and making a statement. I have never driven a BMW, but from what I hear its like nothing else.

So now I am doing my research, first if I can afford it, and how to get a good deal.

You guys are all experts here and so I look to you to give me some guidance.

I am looking for the 3 series 328i. I don't know if xdrive is needed for me or actually what it is.

I would like to save some money so ED is something that i read a little bit but don't know how much I can save and if its worth it?

I am thinking of leasing as reliability is no something BMW is known for so I don't want to be spending $$$$ in repairs.

Since, I am a noob, sorry for my elementary questions.

Can I get a 2012 328 for 3 year lease for around $350/month. I want to be able to keep the payments under $400.

What about insurance, is it very expensive to insure a BMW.

This is all I can think for now, but please add your comments and suggestions as you please.

sunny5280 12-22-2011 09:33 AM

Quote:

Originally Posted by sid369 (Post 6517123)
Hi all,

I am new to the forum and have never owned a BMW, however its the car that I have always wanted. I currently have a RAV4 V6. I am not a BMW enthusiast but I would love to own the car. For me owning a BMW means status and making a statement. I have never driven a BMW, but from what I hear its like nothing else.

So now I am doing my research, first if I can afford it, and how to get a good deal.

You guys are all experts here and so I look to you to give me some guidance.

I am looking for the 3 series 328i. I don't know if xdrive is needed for me or actually what it is.

I would like to save some money so ED is something that i read a little bit but don't know how much I can save and if its worth it?

I am thinking of leasing as reliability is no something BMW is known for so I don't want to be spending $$$$ in repairs.

Since, I am a noob, sorry for my elementary questions.

Can I get a 2012 328 for 3 year lease for around $350/month. I want to be able to keep the payments under $400.

What about insurance, is it very expensive to insure a BMW.

This is all I can think for now, but please add your comments and suggestions as you please.

Whether you can afford it is not something we can tell you unless we knew a lot about your financial details. Unless you're willing to post them that is a decision only you can make.

X-drive is the all wheel drive version of the car.

Insurance is also unique to your situation. Call your insurance agent and ask for a quote.

As for payment go to a BMW dealer and speak with them. They can work out the details and once you have them come back and post them. People with lease experience are always happy to offer advice.

Michael Schott 12-22-2011 09:39 AM

Hi and welcome to the board. Most of us here are enthusiasts more than status seekers so our perspective may be skewed.

Xdrive is BMW's name for their full time four wheel drive system. The standard 328i is rear wheel drive. If you live in a warmer climate you will not need xdrive. It also adds weight and cost.

You can ask more about ED on this site's ED and Ask A Dealer forums. There's a considerable savings but you have to factor in the cost of a trip to Germany.

Leasing is a good alternative and will reduce your monthly payments vs a purchase. Then again you have no equity after the lease ends.

It's going to be difficult to get a 2012 328i for $350.00 month. As the car is a new model for 2012, it may be popular and discounts may be tough to get. You can reduce your monthly payment with a downpayment but we generally do not recommend this as once again you will not get this back at lease end. BMW changes their lease rates and other factors monthly. If you buy at the right time you may get a good interest rate (Money Factor) and residual (the higher the better).

A 328i should not be overly expensive to insure given you are not too young and have a good driving record.

My personal comments are: Yes a BMW is a prestigious car but I don't recommend buying any car just for the prestige. You should have enough self confidence that you don't need the recognition of others. Also, it doesn't make sense to stretch your budget in order to get a nice car. If you can only afford something like a RAV4, perhaps you should stay in that price range. I bought my 328i (2011 model) because I love the way it drives. It's pretty fast, it handles beautifully and is great fun to drive. I don't care what others think and in fact sometimes am self conscious of people making judgements of me based on my car.

SuperTerp 12-22-2011 09:40 AM

truecar.com will give you factory invoice, I'd work off that number, but if you don't plan to vist that site I wouldn't take anything less then 6-9% off MSRP.

guyatherton 12-22-2011 09:41 AM

ED is European Delivery, where you go to Munich and pick up the car, you drive it around Europe (if you wish) and then it gets shipped to the US, you fly back and several weeks later you pick up the car again. It is cheaper and you get a vacation (if you wish).
Leasing - 2012 lease rates are not out and it is unlikely to be at $350 unless you get the base model with no options. Otherwise it is likely to be between $400-450.
For me as a 36 yo male a 328i was around $100 a month to insure in North Carolina.
Reliability - look at truedelta.com for some reliability data. BMW is around average. My experience with a 2007 328i was excellent, with no issues at all.
Hope this helps.

sid369 12-22-2011 10:17 AM

Thanks for the responses. I want to clarify something so that you don't misunderstand my meaning. I am 31 and i have reached a point where I am ready to go from regular to luxury and for me if I buy a luxury car, I think of BMW and the status it has. I have no self confidence issue. I have not driven a BMW, so i can't say that I love the way it drives so I am buying it, I am sure once I test drive it that will be the biggest factor for buying a BMW.

Again, thanks for the responses, I live in Delaware, we get snow but only a few days a year so I guess I don't need the xdrive.

I will check with my insurance and find out how much premiums are.

Just wanted to get the feel of the leasing range, coz on tv you see $299 or $349 a month for the bmw lease and then you read that it costs a lost to lease a bmw $600- $700 so I though I would ask here from the people who lease it what has been their experience.

When i go to the dealer, and ask for numbers for the lease, is there anything particular that I need to keep in mind, can we negotiate on lease deals? how do you get around not paying a downpayment?

SuperTerp 12-22-2011 10:57 AM

geico does something where you plug in a vin and will spit you out the quote.

Just did a 55k 2011 new 328 convertible and my premium was $729 (not sure if thats a year or 6 month thing)

Also did a used 550xi with 7k miles and it was $709

Michael Schott 12-22-2011 11:19 AM

Quote:

Originally Posted by sid369 (Post 6517274)
Thanks for the responses. I want to clarify something so that you don't misunderstand my meaning. I am 31 and i have reached a point where I am ready to go from regular to luxury and for me if I buy a luxury car, I think of BMW and the status it has. I have no self confidence issue. I have not driven a BMW, so i can't say that I love the way it drives so I am buying it, I am sure once I test drive it that will be the biggest factor for buying a BMW.

Again, thanks for the responses, I live in Delaware, we get snow but only a few days a year so I guess I don't need the xdrive.

I will check with my insurance and find out how much premiums are.

Just wanted to get the feel of the leasing range, coz on tv you see $299 or $349 a month for the bmw lease and then you read that it costs a lost to lease a bmw $600- $700 so I though I would ask here from the people who lease it what has been their experience.

When i go to the dealer, and ask for numbers for the lease, is there anything particular that I need to keep in mind, can we negotiate on lease deals? how do you get around not paying a downpayment?

As others have said, if you can work off of invoice aim for $500-$1000 over that price. Keep in mind that invoice is about 92.5% of retail. When leasing the money factor (interest rate) and residual will determine the monthly payment based on your negotiated price. Also, you can put money down as security deposits which you get back at the end of the lease term. Do some research on MSD (multiple security deposits) that can lower the money factor and thus your monthly payments.

When you see these great lease rates on TV or in ads they require a large downpayment. Not worth it. Also, they may be low mile leases like 10K/year which most will exceed.

The Ask the Dealer forum here is good place to learn about these details.

By the way I lease a 2011 328i which retailed for under $37K and is pretty stripped with a minimal downpayment for 36 months in the mid $400.00 range. You can probably do a bit better but not much.

sid369 12-23-2011 05:58 PM

I read that the 2012 is releasing in feb 2012. So does that mean its going to be easily available everywhere. Also, I know this might not be a right question on this forum, but I checked the unofficial config and this car pretty quickly gets over $44k. I was just wondering if there are competitors who offer more for less money, if so which cars can be compared Audi Acura Lexus?

justinnum1 12-23-2011 06:15 PM

new 3 series esp on thats 44K will be 500 a month...worth it imo

bmwarchitect 12-23-2011 08:21 PM

your best value is probably to lease a 2011 as it is in the last year of the model production and there should be some good deals. Read up on leasing in the ask a dealer forum. This site is also good as there is a leasing 101 section and a lease calculator as well as lease residuals and money factors.

http://www.ridewithg.com/

Educate yourself on the leasing, its takes a little bit of effort but will pay off, otherwise its easy to overpay. Also read up on Multiple Security Deposits on the Ask a Dealer forum, this may be an option for you to reduce your payments although you need to give money to BMW.

sid369 12-23-2011 08:45 PM

Although the 2011 is the best value now to lease. But I somehow like the 2012 so I can wait for a good deal to come along. In the mean time I can do my research and hang out with you guys and educate myself.

Jon Shafer 12-24-2011 12:58 AM

Before another day goes by, before you think of any more questions to ask, do yourself a HUGE favor.
Go drive a BMW. Any one will do.

Drive and E90. Then drive a 2012 528i to get a sense of the powertrain. This will be the most important step
in the buying process, without a doubt.

Then, when you are done, please come back and post your impressions here!


:thumbup:

justinnum1 12-24-2011 05:04 AM

drive a z4 28i trust me

tturedraider 12-24-2011 10:25 AM

Quote:

Originally Posted by Jon Shafer (Post 6520778)
Before another day goes by, before you think of any more questions to ask, do yourself a HUGE favor.
Go drive a BMW. Any one will do.

Drive and E90. Then drive a 2012 528i to get a sense of the powertrain. This will be the most important step
in the buying process, without a doubt.

Then, when you are done, please come back and post your impressions here!


:thumbup:

+1 - then go drive a Mercedes C Class. If you're not a big driving and sporty handling enthusiast the BMW may be more than you want in those areas. As far as the general public is concerned, maybe your clients or colleagues, they equate the Mercedes as more of a statement of success car.

bmwarchitect 12-24-2011 12:52 PM

Understand on the 2012 as it appears to be a nice design. Good luck with your search, it is the best part of the journey.


All times are GMT -7. The time now is 01:49 AM.

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
© 2001-2011 performanceIX, Inc. All Rights Reserved .: guidelines .:. privacy .:. terms