Include Mf--residual-down Payment
I'm not trying to be an azz but this post is about what you are asking. There is plenty in here that will help you understand a lease and countless senarios. Could you bee more specific in what you want to know?Guys,
I am thinking about leasing a 328I. I am new to the leasing environment, so I don't really know what to look for.
Can someone briefly explain what keeps the monthly payments down on a lease? Or possibly come up with a scenario. Thanks....
How's your credit rating? I ask only b/c you say you're only 2 years post 1st job and never had a really nice car. Your FICO score may not be as high as you think, thus the crappy deal they're offering you. To BMW Financial Services, you are a much higher risk than many other and older ppl with higher credit ratings. If you don't know your credit score, then find out online. If it's decent, then shop around for a better deal or simply tell them that the deal they've offered you just isn't acceptable. If your credit isn't great, then either you do the deal as offered or you get a less expensive car. What about a certified pre-owned Bimmer? Many of us that drive these $40k, $50k+ cars have been working our tails off for many years and we've earned the right to drive nice cars. Just trying to put it all into perspective. Good luck!This is what he faxed me yesterday and it seems like i'm getting reemed:
3 yr - 12k lease
Price: $43,670
Tax: $2729.38
Doc Fee and Govt Fee: $182
Down Payment: $3800
MF: 2.55
Residual: 60%
Monthly Payment: 682.16 for lease and 669.97 for owner's choice
After reading this site, I already figured that i'm getting f'd on the MF (shouldn't it be 2 base with a max of 2.4 with markup?). I also thought putting down money gets you a lower rate via the security deposit. How is this legit???
I'm really not looking to get an amazing deal, but after reading on this site it seems like a lot is real screwy with this deal. I don't care as much about the MSRP as I do about the terms of the lease...and I still can't figure out what I should be doing different.
What should I do to get the best lease deal on this car...I am not even looking to get a great price as nobody in Houston would budge on the MSRP. But the MF and monthly payments are starting to scare me now...Sorry for such a long post. It's just that after reading on this forum I am real scared.
Can anyone give me advice on how to tackle this with the salesman. If this lease is absurd or he's screwing me on basic numbers then I need to cancel this order ASAP. I'm even scared of the owner's choice b/c it's cheaper somehow than the lease.
Thanks for any help that can be provided.:tsk:
When you do ED lease, do you calculate CAP Cost as invoice prices + invoice options+ dealer profit or just ED cost saving ED MSRP + OptionsI have an ED lease on a 335i sedan.
Term - 24 months
US MSRP - 47800
My ED Price 42800
MF=.00231+.003 for ED = .00261
BMW picks up 2 payment in exchange for added ED MF.
7 security Deposits.
12k miles per year.
$606 per month.
Welcome aboard!Ok guys new to this board so I need some help. I live in Edgewater NJ and I am looking for either the coupe or sedan ( rather have the coupe ) with sports package, Premium package and navigation in Montego Blue. I have been reading this thread.
1. Advantages of ED?
2. Best MF and residual?
3. Looking to stay around 600-630 lease.
Thanks.
Not enough information. Provide the MSRP, Capt Cost, Residual, MF, and I can tell you if the deal came out right.I have a 335i coupe with space metallic gray, coral red leather, zsp,zpp, and heated seats. I signed a check for 2600 and payments are 715. That includes 36 months, 15k per year and the wheel/tire protection package. i think i did ok. any thoughts would be appreciated.
I haven't even sent in my application for for approval, don't you do that two weeks before you pick up your car for ED? I want to order the 335i Coupe within the next couple weeks. So I think he was just assuming what the BMWFS would say to me. My situation I just graduated college last December and my salary is about $70,000 a year. My credit is good (not great) but I was approved for my last bmw (with my own bank) brand new without any problems. Should I do a pre-approval for the car now to make sure I know what BMWFS will say?I had no problem leasing the new one while keeping my old car. I had excellent credit though. The dealer may be telling you the truth on your individual situation. They do take into acount how much you make, especially if you are still making payments on the old car. Can you get a co-signer?
Do you own the 325 now or do you still owe money on it ?I haven't even sent in my application for for approval, don't you do that two weeks before you pick up your car for ED? I want to order the 335i Coupe within the next couple weeks. So I think he was just assuming what the BMWFS would say to me. My situation I just graduated college last December and my salary is about $70,000 a year. My credit is good (not great) but I was approved for my last bmw (with my own bank) brand new without any problems. Should I do a pre-approval for the car now to make sure I know what BMWFS will say?
I guess you won't be driving very much since German law requires winter tires if there is snow and ice.Just ordered my 335i for January ED:
335i coupe
ouch...for a the price of the car you did okay. but he maxed out the MF, the acquisition fee, and threw in some BS training fee and MACO to boot! call him on it and if he doesnt budge find a new dealer.I'm looking to lease an ED 335i fully loaded with every single option available. I negotiated $48,500 with the dealer including destination charges plus the following
24 month term
15k miles
.0027 Money Factor
Taxes $2400
Security Deposit: $700
Acquisition: $825
Training: $180
Advertising: $250
$660 Monthly payment
Total out the door: $4,355
I have not finalized this deal as yet but this is what I've been quoted. I initially negotiated a $1200 profit for the dealer only to be toldlater that the price did not include advertising and training fees. Is this common or am I being taken for a ride? This will result in $1,630 dealer profit as opposed to the $1200 we had agreed to. Also How am I doing on the acquisition fees? If understand that $625 is the norm and that anything above taht is dealer markup. If this is true then they are making even more profit off me. Plus I understand the captive money factor rate is .0020 for a 24 month term with 15k miles. I know that for ED they add.0003 to the rate. But if I were getting the lowest rate that would mean the rate should be .0023 not .0027. I am considering putting down multiple seciurity deposits to lower the MF. However, does anyone nkow for sure how much this will lower the MF? How much does eacg additional deposit lower the MF? Any advice or comments on my situation would be greatly appreciated.