Guys, Dealer offering me a 2010 528i MSport with Nav, Logic 7, PDC and Xenon lights- MRSP $55,875.00
Lease- $699.00 plus tax, 15,000 miles a year. Is this a good deal or not? |
Originally Posted by ponster' post='1077813' date='Dec 21 2009, 06:59 PM
Guys, Dealer offering me a 2010 528i MSport with Nav, Logic 7, PDC and Xenon lights- MRSP $55,875.00
Lease- $699.00 plus tax, 15,000 miles a year. Is this a good deal or not? Have you looked at any other cars? |
Originally Posted by ponster' post='1077813' date='Dec 22 2009, 07:59 AM
Guys, Dealer offering me a 2010 528i MSport with Nav, Logic 7, PDC and Xenon lights- MRSP $55,875.00
Lease- $699.00 plus tax, 15,000 miles a year. Is this a good deal or not? |
sounds expensive to me but then again, a 328i is leased around $500/month with around 2 G's down... is your offer 0 down?
|
Originally Posted by ponster' post='1077813' date='Dec 21 2009, 06:59 PM
Guys, Dealer offering me a 2010 528i MSport with Nav, Logic 7, PDC and Xenon lights- MRSP $55,875.00
Lease- $699.00 plus tax, 15,000 miles a year. Is this a good deal or not? Never ever negotiate a lease off a monthly payment. You need to know: (1) the selling price of the car (this is a big number to negotiate; (2) the money factor; and (3) the residual value. The MF and residual value are available in the Ask A Dealer forum on bimmerfest.com from Tarry@leasecompare.com. Never let the dealer mark up the MF (BMWFS allows them to) or give you a lower residual than the BMWFS residual. Moreover, if a delaer refuses to tell you items 1, 2 and 3, run out of the dealership and do not lease from them. Ethical dealers will not conceal that information and I only lease from dealers who have freely disclosed that information to me. Also, never put a penny down on the lease -- no cap cost reduction -- because if your car is lost or totaled, you have lost the up front money. The biggest way that dealers screw you on a lease is if you merely negotiate a monthly payment. Do not do that. Rather, settle on numbers 1-3 above. From that (and the MSRP), you can calculate the monthly payment using one of the many lease calculators on the internet (such as leasecalculator.com). Finally, check Edmunds.com and the Ask-A-Dealer website for any incentive that BMW has for the car you want. You should subtract that number from the car's invoice price and negotiate a selling price. Good luck. |
Originally Posted by sdg1871' post='1077929' date='Dec 21 2009, 10:36 PM
Never ever negotiate a lease off a monthly payment. You need to know: (1) the selling price of the car (this is a big number to negotiate; (2) the money factor; and (3) the residual value. The MF and residual value are available in the Ask A Dealer forum on bimmerfest.com from Tarry@leasecompare.com. Never let the dealer mark up the MF (BMWFS allows them to) or give you a lower residual than the BMWFS residual. Moreover, if a delaer refuses to tell you items 1, 2 and 3, run out of the dealership and do not lease from them. Ethical dealers will not conceal that information and I only lease from dealers who have freely disclosed that information to me.
The biggest way that dealers screw you on a lease is if you merely negotiate a monthly payment. Do not do that. Rather, settle on numbers 1-3 above. From that (and the MSRP), you can calculate the monthly payment using one of the many lease calculators on the internet (such as leasecalculator.com). Finally, check Edmunds.com and the Ask-A-Dealer website for any incentive that BMW has for the car you want. You should subtract that number from the car's invoice price and negotiate a selling price. Good luck. Amazing that so many people who "rent" cars are dazzled by a low monthly payment ... and give no thought to the total (real) cost of acquisition. Your advice is well constructed :thumbsup: |
Originally Posted by luigi524td' post='1077939' date='Dec 21 2009, 11:06 PM
+1
Amazing that so many people who "rent" cars are dazzled by a low monthly payment ... and give no thought to the total (real) cost of acquisition. Your advice is well constructed :thumbsup: I learned a lot from a crappy lease deal that I made in 1996 on an Infiniti Q45 when I was in my mid-twenties. I got fleeced. After that experience, I learned everything I could on leasing so that I did not repeat my stupid mistakes. |
Originally Posted by sdg1871' post='1077929' date='Dec 21 2009, 10:36 PM
That deal sucks. My 2009 550i Sport's lease, with 18K miles per year (and MSRP of about $71K), was $900 per month plus tax. Only $200 difference between 528 and 550? Give me a break. Total ripoff.
Never ever negotiate a lease off a monthly payment. You need to know: (1) the selling price of the car (this is a big number to negotiate; (2) the money factor; and (3) the residual value. The MF and residual value are available in the Ask A Dealer forum on bimmerfest.com from Tarry@leasecompare.com. Never let the dealer mark up the MF (BMWFS allows them to) or give you a lower residual than the BMWFS residual. Moreover, if a delaer refuses to tell you items 1, 2 and 3, run out of the dealership and do not lease from them. Ethical dealers will not conceal that information and I only lease from dealers who have freely disclosed that information to me. Also, never put a penny down on the lease -- no cap cost reduction -- because if your car is lost or totaled, you have lost the up front money. The biggest way that dealers screw you on a lease is if you merely negotiate a monthly payment. Do not do that. Rather, settle on numbers 1-3 above. From that (and the MSRP), you can calculate the monthly payment using one of the many lease calculators on the internet (such as leasecalculator.com). Finally, check Edmunds.com and the Ask-A-Dealer website for any incentive that BMW has for the car you want. You should subtract that number from the car's invoice price and negotiate a selling price. Good luck. |
Originally Posted by ponster' post='1077990' date='Dec 22 2009, 12:05 AM
Thanks for the info. Based on the info, I provided. What do you believe is a fair lease payment.
One of our members, jeffnnj, a Client Advisor at Wide World of Cars in Spring Valley, NY, will lease you a BMW for $250 above invoice minus any incentives with base money factor and BNWFS residual. That is a good lease deal. |
Originally Posted by sdg1871' post='1077994' date='Dec 22 2009, 12:10 AM
I don't know. What is the invoice price of the car minus applicable incentives? You can find this on Edmunds.com and Bimmerfest.com.
One of our members, jeffnnj, a Client Advisor at Wide World of Cars in Spring Valley, NY, will lease you a BMW for $250 above invoice minus any incentives with base money factor and BNWFS residual. That is a good lease deal. |
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