New Purchase Advice Needed (545i)
08-20-2005, 09:55 PM
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First, let me say that I am a beemer enthusiast. I have owned 3 previous: 1990 7 series; 2001 3 series; and 2003 5 Series (current car). I setout this week to finalize the purchase of a 2006 530i...my plan included writing a check for the entire purchase and being done with the ordeal. Must have equipment: automatic, leather, premium sound, xenon. No sport package.
Visited 3 dealers within a 60-mile radius of my home. All 3 salesman gave me trouble about writing a check for the vehicle versus leasing. Let me just say it took more time during the sales process than I had planned on, and I was surprised by the intimidation I received...even from a salesman I purchased from in the past. All previous purchased beemers were from the same dealer, but with different salesmen.
I decided to shop this time, having conducted a fair amount of research, but did begin to consider the lease option while out today. The problem: 15,000 miles/annually could prove to be difficult. I am in outside sales and miles vary from year to year. I would prefer not to factor in more miles because some years I drive less than 12K.
Here's one deal I encountered and am considering on a 545i:
MSRP = $58,890 USD
2005 545i, Orient Blue/Beige
NO SPORT
Leather, auto, PDC, Xenon -- standard
Premium Sound
Satellite Radio (Sirius)
Destination
Discount by dealer to $53,890.00
3-year lease
No deposit
Residual 0.57
Money Factor 1.55
Term 36 months
Miles/yr 15,000
Tax Rate 6.25
Downpayment $0
Monthly Payment 828.72
--FYI:No Trade-in--
Questions:
1. First, why the pressure to lease rather than an all out purchase?
2. A good deal on the 545i...price and lease details?
3. Do individuals pay cash any more for new vehicles?
Thank you all for your assistance ~ this is my first post and I am glad to be a BMW enthusiast and a member of this forum.
Visited 3 dealers within a 60-mile radius of my home. All 3 salesman gave me trouble about writing a check for the vehicle versus leasing. Let me just say it took more time during the sales process than I had planned on, and I was surprised by the intimidation I received...even from a salesman I purchased from in the past. All previous purchased beemers were from the same dealer, but with different salesmen.
I decided to shop this time, having conducted a fair amount of research, but did begin to consider the lease option while out today. The problem: 15,000 miles/annually could prove to be difficult. I am in outside sales and miles vary from year to year. I would prefer not to factor in more miles because some years I drive less than 12K.
Here's one deal I encountered and am considering on a 545i:
MSRP = $58,890 USD
2005 545i, Orient Blue/Beige
NO SPORT
Leather, auto, PDC, Xenon -- standard
Premium Sound
Satellite Radio (Sirius)
Destination
Discount by dealer to $53,890.00
3-year lease
No deposit
Residual 0.57
Money Factor 1.55
Term 36 months
Miles/yr 15,000
Tax Rate 6.25
Downpayment $0
Monthly Payment 828.72
--FYI:No Trade-in--
Questions:
1. First, why the pressure to lease rather than an all out purchase?
2. A good deal on the 545i...price and lease details?
3. Do individuals pay cash any more for new vehicles?
Thank you all for your assistance ~ this is my first post and I am glad to be a BMW enthusiast and a member of this forum.
08-20-2005, 10:10 PM
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My Ride: 2005 545i with everything
1. pressure to lease-- more profits for salesman and BMW
2. Recent 545i lease promotions have been good. .0010 money factor (about 2%).
3. yes people can and do pay cash. I could have paid cash for both my current vehicles. Good financing terms made paying cash not the smartest choice (if I can get essentially a 2% loan from BMWFS, I will take that $60k+ and make double or triple that rate investing conservatively.) It depends on your tax situation, talk to your accountant.
2. Recent 545i lease promotions have been good. .0010 money factor (about 2%).
3. yes people can and do pay cash. I could have paid cash for both my current vehicles. Good financing terms made paying cash not the smartest choice (if I can get essentially a 2% loan from BMWFS, I will take that $60k+ and make double or triple that rate investing conservatively.) It depends on your tax situation, talk to your accountant.
08-20-2005, 10:18 PM
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Originally Posted by lonestarstate' date='Aug 20 2005, 10:55 PM
First, let me say that I am a beemer enthusiast. I have owned 3 previous: 1990 7 series; 2001 3 series; and 2003 5 Series (current car). I setout this week to finalize the purchase of a 2006 530i...my plan included writing a check for the entire purchase and being done with the ordeal. Must have equipment: automatic, leather, premium sound, xenon. No sport package.
Visited 3 dealers within a 60-mile radius of my home. All 3 salesman gave me trouble about writing a check for the vehicle versus leasing. Let me just say it took more time during the sales process than I had planned on, and I was surprised by the intimidation I received...even from a salesman I purchased from in the past. All previous purchased beemers were from the same dealer, but with different salesmen.
I decided to shop this time, having conducted a fair amount of research, but did begin to consider the lease option while out today. The problem: 15,000 miles/annually could prove to be difficult. I am in outside sales and miles vary from year to year. I would prefer not to factor in more miles because some years I drive less than 12K.
Here's one deal I encountered and am considering on a 545i:
MSRP = $58,890 USD
2005 545i, Orient Blue/Beige
NO SPORT
Leather, auto, PDC, Xenon -- standard
Premium Sound
Satellite Radio (Sirius)
Destination
Discount by dealer to $53,890.00
3-year lease
No deposit
Residual 0.57
Money Factor 1.55
Term 36 months
Miles/yr 15,000
Tax Rate 6.25
Downpayment $0
Monthly Payment 828.72
--FYI:No Trade-in--
Questions:
1. First, why the pressure to lease rather than an all out purchase?
2. A good deal on the 545i...price and lease details?
3. Do individuals pay cash any more for new vehicles?
Thank you all for your assistance ~ this is my first post and I am glad to be a BMW enthusiast and a member of this forum.
Visited 3 dealers within a 60-mile radius of my home. All 3 salesman gave me trouble about writing a check for the vehicle versus leasing. Let me just say it took more time during the sales process than I had planned on, and I was surprised by the intimidation I received...even from a salesman I purchased from in the past. All previous purchased beemers were from the same dealer, but with different salesmen.
I decided to shop this time, having conducted a fair amount of research, but did begin to consider the lease option while out today. The problem: 15,000 miles/annually could prove to be difficult. I am in outside sales and miles vary from year to year. I would prefer not to factor in more miles because some years I drive less than 12K.
Here's one deal I encountered and am considering on a 545i:
MSRP = $58,890 USD
2005 545i, Orient Blue/Beige
NO SPORT
Leather, auto, PDC, Xenon -- standard
Premium Sound
Satellite Radio (Sirius)
Destination
Discount by dealer to $53,890.00
3-year lease
No deposit
Residual 0.57
Money Factor 1.55
Term 36 months
Miles/yr 15,000
Tax Rate 6.25
Downpayment $0
Monthly Payment 828.72
--FYI:No Trade-in--
Questions:
1. First, why the pressure to lease rather than an all out purchase?
2. A good deal on the 545i...price and lease details?
3. Do individuals pay cash any more for new vehicles?
Thank you all for your assistance ~ this is my first post and I am glad to be a BMW enthusiast and a member of this forum.
[snapback]161603[/snapback]
08-21-2005, 12:09 AM
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Originally Posted by teutonictrio' date='Aug 21 2005, 01:18 AM
[quote name='lonestarstate' date='Aug 20 2005, 10:55 PM']
[snapback]161603[/snapback]
[snapback]161607[/snapback]
[/quote]NOT lower residual, but only lower money factor will bring your payments down. Just bring the MF down to .0010 and you are getting a great deal. No need to buy down MF with multiple security deposits as suggested, they are not a good deal any longer.
08-21-2005, 06:08 AM
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Originally Posted by fq1' date='Aug 21 2005, 01:09 AM
[quote name='teutonictrio' date='Aug 21 2005, 01:18 AM'][quote name='lonestarstate' date='Aug 20 2005, 10:55 PM']
[snapback]161603[/snapback]
[snapback]161607[/snapback]
[/quote]NOT lower residual, but only lower money factor will bring your payments down. Just bring the MF down to .0010 and you are getting a great deal. No need to buy down MF with multiple security deposits as suggested, they are not a good deal any longer.
[snapback]161622[/snapback]
[/quote]Sorry, I meant HIGHER residual - should be at least 60% for a 3 year lease
08-21-2005, 09:35 AM
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My Ride: Arrived 3 June 2005: 2005 545i - Orient Blue, Black interior, Sport, Steptronic, Cold Weather, NAV, Sirius, Logic7, Comfort Seats, Sunshades. What a glorious ride!
Originally Posted by rodneyremington' date='Aug 21 2005, 02:10 AM
1. pressure to lease-- more profits for salesman and BMW
2. Recent 545i lease promotions have been good. .0010 money factor (about 2%).
3. yes people can and do pay cash. I could have paid cash for both my current vehicles. Good financing terms made paying cash not the smartest choice (if I can get essentially a 2% loan from BMWFS, I will take that $60k+ and make double or triple that rate investing conservatively.) It depends on your tax situation, talk to your accountant.
2. Recent 545i lease promotions have been good. .0010 money factor (about 2%).
3. yes people can and do pay cash. I could have paid cash for both my current vehicles. Good financing terms made paying cash not the smartest choice (if I can get essentially a 2% loan from BMWFS, I will take that $60k+ and make double or triple that rate investing conservatively.) It depends on your tax situation, talk to your accountant.
[snapback]161604[/snapback]
Having said that, the HELOC that I got (not to buy the BMW) at 3.75% is looking like a much worse deal now that it has floated up to 6%.
08-22-2005, 09:39 AM
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My Ride: 2006 BMW 550i "Ben Hogan's 5 Iron"
SilverGrey/Black Sport, L7, NAV, CW, AS, Split FR
2003 Audi A4 3.0 CVT "Part of the Moniker"
Silver/Ebony, Prem, CW, Star 17s
Originally Posted by teutonictrio' date='Aug 21 2005, 01:18 AM
[quote name='lonestarstate' date='Aug 20 2005, 10:55 PM']First, let me say that I am a beemer enthusiast. I have owned 3 previous: 1990 7 series; 2001 3 series; and 2003 5 Series (current car). I setout this week to finalize the purchase of a 2006 530i...my plan included writing a check for the entire purchase and being done with the ordeal. Must have equipment: automatic, leather, premium sound, xenon. No sport package.
Visited 3 dealers within a 60-mile radius of my home. All 3 salesman gave me trouble about writing a check for the vehicle versus leasing. Let me just say it took more time during the sales process than I had planned on, and I was surprised by the intimidation I received...even from a salesman I purchased from in the past. All previous purchased beemers were from the same dealer, but with different salesmen.
I decided to shop this time, having conducted a fair amount of research, but did begin to consider the lease option while out today. The problem: 15,000 miles/annually could prove to be difficult. I am in outside sales and miles vary from year to year. I would prefer not to factor in more miles because some years I drive less than 12K.
Here's one deal I encountered and am considering on a 545i:
MSRP = $58,890 USD
2005 545i, Orient Blue/Beige
NO SPORT
Leather, auto, PDC, Xenon -- standard
Premium Sound
Satellite Radio (Sirius)
Destination
Discount by dealer to $53,890.00
3-year lease
No deposit
Residual 0.57
Money Factor 1.55
Term 36 months
Miles/yr 15,000
Tax Rate 6.25
Downpayment $0
Monthly Payment 828.72
--FYI:No Trade-in--
Questions:
1. First, why the pressure to lease rather than an all out purchase?
2. A good deal on the 545i...price and lease details?
3. Do individuals pay cash any more for new vehicles?
Thank you all for your assistance ~ this is my first post and I am glad to be a BMW enthusiast and a member of this forum.
Visited 3 dealers within a 60-mile radius of my home. All 3 salesman gave me trouble about writing a check for the vehicle versus leasing. Let me just say it took more time during the sales process than I had planned on, and I was surprised by the intimidation I received...even from a salesman I purchased from in the past. All previous purchased beemers were from the same dealer, but with different salesmen.
I decided to shop this time, having conducted a fair amount of research, but did begin to consider the lease option while out today. The problem: 15,000 miles/annually could prove to be difficult. I am in outside sales and miles vary from year to year. I would prefer not to factor in more miles because some years I drive less than 12K.
Here's one deal I encountered and am considering on a 545i:
MSRP = $58,890 USD
2005 545i, Orient Blue/Beige
NO SPORT
Leather, auto, PDC, Xenon -- standard
Premium Sound
Satellite Radio (Sirius)
Destination
Discount by dealer to $53,890.00
3-year lease
No deposit
Residual 0.57
Money Factor 1.55
Term 36 months
Miles/yr 15,000
Tax Rate 6.25
Downpayment $0
Monthly Payment 828.72
--FYI:No Trade-in--
Questions:
1. First, why the pressure to lease rather than an all out purchase?
2. A good deal on the 545i...price and lease details?
3. Do individuals pay cash any more for new vehicles?
Thank you all for your assistance ~ this is my first post and I am glad to be a BMW enthusiast and a member of this forum.
[snapback]161603[/snapback]
[snapback]161607[/snapback]
[/quote]The lower residual increases payment, but is favorable if you buy at the end of the lease.
CVT Benhogan
08-22-2005, 09:49 AM
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Originally Posted by CVTBenhogan' date='Aug 22 2005, 10:39 AM
[snapback]161607[/snapback]
The lower residual increases payment, but is favorable if you buy at the end of the lease.
CVT Benhogan
[snapback]162038[/snapback]
[/quote]Not necessarily - the end price could be bargained if you choose to purchase it. Otherwise, most dealers put them in auction, and they are sure to get more from the driver of the car than an auction price.
08-22-2005, 09:51 AM
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WOW ur getting a ripp off deal there bud! i leased my 545i brand new a month ago with everything but sport suspension and sirus for......$59k and my payments are 760 a month.........go see a broker they can get you far better prices than a dealer........what area are you in?