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  #1  
Old 11-20-2017, 12:38 PM
Tricky76 Tricky76 is offline
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Advice on lease

Hello, new to forum, thanks for allowing me to join.

Live in New York. Currently own blue w saddle interior 2011 328i xDrive - 80k miles today. No damage/no crashes.

Looking to get into a 340 or 540 - lease this time. 15k miles/year.

Would love thoughts on 2018 models, what I might expect in a monthly payment, and opinions on the 340 vs the 540.

Many thanks for your patience and advice!

Rich
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  #2  
Old 11-20-2017, 12:59 PM
jjrandorin jjrandorin is offline
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Quote:
Originally Posted by Tricky76 View Post
Hello, new to forum, thanks for allowing me to join.

Live in New York. Currently own blue w saddle interior 2011 328i xDrive - 80k miles today. No damage/no crashes.

Looking to get into a 340 or 540 - lease this time. 15k miles/year.

Would love thoughts on 2018 models, what I might expect in a monthly payment, and opinions on the 340 vs the 540.

Many thanks for your patience and advice!

Rich
Hi, Welcome to Bimmerfest!

If you are not familiar with leasing, there is a GREAT leasing primer here at bimmerfest. It explains how a lease works (from a monetary perspective) and the different terms etc. You can find it here:

http://www.bimmerfest.com/forums/sho...d.php?t=895604

Read through that a few times, enough that when people start talking about money factors (MF) Residual Values (RV) and such you have a good idea of what is going on. If you do already, then you are partially ahead of the game.

There is also a good pricing thread, which shows the MSRPs of various models, and more importantly HOW TO CALCULATE THE INVOICE of your desired BMW. http://www.bimmerfest.com/forums/sho...d.php?t=983787

The sales price of the car dictates the monthly payment... so no one can give you an "expectation of where you would be on a monthly payment". As you know as a BMW owner, these cars can be optioned up to have quite a spread in MSRPs. You could have a 340 with a 49k MSRP, or a 340 with a 60k MSRP.

The best way to estimate your monthly payment on a lease is to calculate the invoice of your prospective car (using the information linked above), assume 500 to 1000 profit for the dealer BEFORE any incentives are applied, and then apply your incentives to the deal to arrive at the selling price.

You can use a leasing calculator online to find what the payment will be, but I prefer the excellent LEASEMATIC iphone / android application (I get nothing for suggesting this). its a paid app in the app stores, but its only a couple of dollars and has saved me $100s per month in calculating this stuff easily.

Anyway, the leasematic app has a "wizard" mode, where it asks you for numbers. If you dont have the numbers it wants, you get them from the client advisor who is selling you the car. They like to provide as little detail as possible because that lets them move numbers around:


"See that 55k BMW right there? I can get that for you with only your drive offs down for around $640 a month... sounds good right?"

You will want all the details in that price.

"What is the Money factor used for that quote? What is the sales price / cap cost? What fees are being charged? Are we on the same page that this is for 36 months and 15k miles per year, instead of the standard quote of 10k miles per year? What incentives are you using to get to the cap cost you are quoting me?"

(Example conversations at the dealership)

So, none of us can give you a monthly payment for a 340, with the exception of a great "target" is close to 1% of MSRP, but you likely will not be able to get close to that with a 15k per year lease.

Hope that is enough information to get you started. Once you get a quote from a dealer, get all the numbers (see my example above) put them into a lease calculator and you will see what the payment is. You can play around with the calculator to see what MSRPs you can target to get your monthly payment where you want it.

To get you started:

Right now, Money factors are negotiable between .00152 and .00192 this month for tier 1 credit (above 700).

RV (residual values) for the 2018 3 series this month are 61% for 36/10 (36 month 10k a year), which makes 36/12 = 60% RV and 36/15 = 58%. You can always subtract 3% from the 10k RV for 36 months to get the 15k RV for 36 months.

So, those are two of the values you need to get started, now you just need to configure a car and calculate invoice, assume selling price is 500-1k over invoice before incentives, go to the BMW website and see what incentives are available for your chosen car, and go from there.


Good luck

EDIT:

on the "340 vs 540" thing, the cars are in different segments. There is a decent discussion here on this topic in the 5 series forum where someone is asking "4 series vs 5 series" but 3s and 4s are very similar from a trim level point of view. The link to that thread is here: http://www.bimmerfest.com/forums/sho....php?t=1153345
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Last edited by jjrandorin; 11-20-2017 at 03:53 PM.
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  #3  
Old 11-21-2017, 03:40 PM
3Series 3Series is offline
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Quote:
Originally Posted by Tricky76 View Post
Hello, new to forum, thanks for allowing me to join.

Live in New York. Currently own blue w saddle interior 2011 328i xDrive - 80k miles today. No damage/no crashes.

Looking to get into a 340 or 540 - lease this time. 15k miles/year.

Would love thoughts on 2018 models, what I might expect in a monthly payment, and opinions on the 340 vs the 540.

Many thanks for your patience and advice!

Rich
Generally, there might be larger incentives on a 2017, lease cash or bumped up residual. Lease terms change monthly. The good part is that this is a good time of year. I'm also assuming the 540 won't lease out as well as the 340 considering the 5 is all-new.
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  #4  
Old 11-22-2017, 12:33 PM
Tricky76 Tricky76 is offline
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thank you for all the replies, and for providing so much info...I am grateful. I will follow your recommendations and continue to read up on this...I have some time before my credit gets above 700, and don't want to pull the trigger before then.
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  #5  
Old 11-22-2017, 07:25 PM
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Haris335 Haris335 is offline
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Quote:
Originally Posted by jjrandorin View Post
Hi, Welcome to Bimmerfest!

You can use a leasing calculator online to find what the payment will be, but I prefer the excellent LEASEMATIC iphone / android application (I get nothing for suggesting this). its a paid app in the app stores, but its only a couple of dollars and has saved me $100s per month in calculating this stuff easily.

Anyway, the leasematic app has a "wizard" mode, where it asks you for numbers. If you dont have the numbers it wants, you get them from the client advisor who is selling you the car.
I can confirm that jjrandorin gets nothing for suggesting Leasematic! Not sure if you knew jjrandorin that Leasematic is my app - a fellow `fest member and X5 owner. Thanks for your support!!
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  #6  
Old 11-23-2017, 07:56 PM
JagerPgh JagerPgh is offline
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Quote:
Originally Posted by Haris335 View Post
I can confirm that jjrandorin gets nothing for suggesting Leasematic! Not sure if you knew jjrandorin that Leasematic is my app - a fellow `fest member and X5 owner. Thanks for your support!!
+1 for Leasematic. I downloaded the app when I was looking at leasing a 340xi. It helped me keep on top of what the CA was saying as we went back and forth on numbers. It quickly became clear that lease payments on that model were going to be higher than what I wanted to spend on a car. No problem, I switched over to the "Loan" function and carried on using the app as I negotiated the purchase price of my CPO 328i. It was so reassuring to see everything in black and white and know exactly what the deal was going to cost me. Now, even two years after the sale, I can use the amortization schedule to see what I have left on the car and where I'll stand this time next year.
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  #7  
Old 11-23-2017, 09:53 PM
jjrandorin jjrandorin is offline
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Quote:
Originally Posted by Haris335 View Post
I can confirm that jjrandorin gets nothing for suggesting Leasematic! Not sure if you knew jjrandorin that Leasematic is my app - a fellow `fest member and X5 owner. Thanks for your support!!
I didnt remember your name, but I knew it was a bimmerfester that created it. Its awesome, and easy to use. GREAT job on it. Like I said, I recommend it to everyone that asks me, because it works, and is simple. Pretty much everyone considering a new BMW has a smartphone of some sort at this point.
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2016 X5 XDrive35d Space Grey |Blk Dakota W/ Fineline Oak | MSport | Lighting Pack | Premium Pack | Drivers Assist | Drivers Assist + | ACC W Stop N Go | 20" Wheels| Smartphone Integration | Multi Contour Seats | HK Stereo (hers)

BMW CCA #477341
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  #8  
Old 11-24-2017, 11:34 AM
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Haris335 Haris335 is offline
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Quote:
Originally Posted by JagerPgh View Post
+1 for Leasematic. I downloaded the app when I was looking at leasing a 340xi. It helped me keep on top of what the CA was saying as we went back and forth on numbers. It quickly became clear that lease payments on that model were going to be higher than what I wanted to spend on a car. No problem, I switched over to the "Loan" function and carried on using the app as I negotiated the purchase price of my CPO 328i. It was so reassuring to see everything in black and white and know exactly what the deal was going to cost me. Now, even two years after the sale, I can use the amortization schedule to see what I have left on the car and where I'll stand this time next year.
Quote:
Originally Posted by jjrandorin View Post
I didnt remember your name, but I knew it was a bimmerfester that created it. Its awesome, and easy to use. GREAT job on it. Like I said, I recommend it to everyone that asks me, because it works, and is simple. Pretty much everyone considering a new BMW has a smartphone of some sort at this point.
Thanks! I really appreciate your support!! Feel free to PM with any questions or feature suggestions.
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  #9  
Old 11-29-2017, 11:32 AM
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BeemerGuy BeemerGuy is offline
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OP, you need to drive both cars and buy the one that you want. It's that simple. Then, do as suggested here and get educated on leasing. There are lots of ways that the dealer can throw in extra fees and costs that pad their profit.
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  #10  
Old 12-02-2017, 05:35 AM
rikwynn rikwynn is offline
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Quote:
Originally Posted by Tricky76 View Post
Hello, new to forum, thanks for allowing me to join.

Live in New York. Currently own blue w saddle interior 2011 328i xDrive - 80k miles today. No damage/no crashes.

Looking to get into a 340 or 540 - lease this time. 15k miles/year.

Would love thoughts on 2018 models, what I might expect in a monthly payment, and opinions on the 340 vs the 540.

Many thanks for your patience and advice!

Rich
Dont lease a 340 now. A brand new 3 series is less than a year away. The current car is almost 7 years old and shows its age.
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  #11  
Old 12-04-2017, 12:16 PM
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exl_ent_v6 exl_ent_v6 is offline
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PM me if you are ready to lease, I can connect you with a broker in the NY area... amazing prices and they bring the car and paperwork to you. I've used them many times and referred many people.
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  #12  
Old 12-05-2017, 10:43 AM
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Mykatie Mykatie is offline
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And the leasematic can core a apple!
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  #13  
Old 12-07-2017, 08:05 AM
Digital_83 Digital_83 is offline
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Originally Posted by exl_ent_v6 View Post
PM me if you are ready to lease, I can connect you with a broker in the NY area... amazing prices and they bring the car and paperwork to you. I've used them many times and referred many people.
let me guess, signature ?


Guys, need your input, please.

2018 430xD GC [msrp: $60k; selling: $53k], 36/10k, MF .00152; fees etc $2k:
tax incld - $ 615 p/month
tax NOT incld - $675 p/month

Yay / Nay ?

Last edited by Digital_83; 12-07-2017 at 08:09 AM.
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Old 12-08-2017, 05:20 AM
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BeemerGuy BeemerGuy is offline
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Did you get that backwards, tax incl/not incl?

It looks good except for that $2K in fees and assuming that you can keep yourself to 10K miles a year.

Wait... that's 10% tax. Is that right? You people should really put your location in your profile...
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  #15  
Old 12-08-2017, 06:14 AM
Digital_83 Digital_83 is offline
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Hey Beemer, thanks for your feedback !!
Yeah, I definitely should’ve had, it’s NY; almost 9%
As for the $2k - fees, bank acquisition fee, registration/plates, docs

Quote:
Originally Posted by BeemerGuy View Post
Did you get that backwards, tax incl/not incl?

It looks good except for that $2K in fees and assuming that you can keep yourself to 10K miles a year.

Wait... that's 10% tax. Is that right? You people should really put your location in your profile...
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  #16  
Old 12-08-2017, 10:11 AM
FStephenMasek FStephenMasek is offline
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You will not regret paying cash and becoming debt-free. It is a far better life than debt-slavery.
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