135i Lease quote.. opinions wanted please ...

[sid33]

Hey all I have a question for you and would appreciate some feedback. I went into a local BMW dealer in my area, Northern NJ so you know. I got a chance to finally test drive the 135i (it was even a manual so I was excited) and of course I loved it. I want to see if the price quote the dealer gave me seemed good to you. I didnt negotiate this time around just wanted the bottom line prices to start .

this is what the quote is based on ;

135i in Alpine White
Black leatherette
High Gloss Trim
Sport Package
Navigation
ipod adapter
Premium Sound
Bmw Assist

MSRP including dest and hand is $40,800

Based on that it would cost as follows

$570 per month
$3259.99 (includes $600 sec dep which he said i get back at the end of the lease)
24 month lease he said they have a promo on it

Im also interested in Montego Blue which I asked and he said would cost about $5 more a month if id rather have it so $575 if I choose the color option..

What do you gus think ? How much more could I expect to get off that price. Again no negotiation just gave me prices before I left to think about... Just wanted to see what most people out there are paying on there leases...

thanks all :roundel:

[Space gray]

You should know the car sales price, money factor, and how much for lease acq fee. I would not pay a large cap cost reduction on a lease.

[AchtungF80]

how many miles per year, how much for every mile past that limit?

[coco_m3]

Go For It!!!!

[romka7]

That looks very cheap.... how many miles is the lease?

[AchtungF80]

am I in the twilight zone...since when is $570/mo with $3500 down for a car you do not own cheap!?

ITS a rental for christ sakes!

[drand]

Not bad. Mine has a net cap of $40,280 and is $586 a month with just the first month, security and acquisition fee up front ($1300). I wouldn't pay the other upfronts and live with the slightly higher payment or if you do want to pay that upfront do it as MSDs and get it back on the end.

[beeme]

has anybody tried the multiple security deposits?

[sid33]

It was 12,000 miles per year ...

angkor so you basically did no down payment just first payment and acq fees ? thats great pretty good if you did ...

[gregthegr8]

I am also interested in the multiple security deposits. I read something on the BMW USA website about how you can do that to lower your payment and you get the money back. Guess it's like a loan to them to some degree. If anybody knows I'd love to know as i'll probably do my lease tomorrow night with BMW.

[Red135]

FYI, supposedly there is a new lease program for the 1-series beginning in May. I would ask about it.

[Space gray]

Originally Posted by gregthegr8

I am also interested in the multiple security deposits. I read something on the BMW USA website about how you can do that to lower your payment and you get the money back. Guess it's like a loan to them to some degree. If anybody knows I'd love to know as i'll probably do my lease tomorrow night with BMW.

If you are new to BMWFS, then you have to put down a security deposit (or pay a higher MF). You can put down additional security deposits (up to 7) and each additional deposit will lower the MF by 0.0007. Do the math for your lease, but people who have done it have posted that they got an annual return of 9% to 13% on their money.

[BMW Dreamer]

The saleman @ the dealer last week asked me if I was interested in leasing. I told him the lease rates on the 1 were too high, he said what? Maybe the rates are going to go down. I have never leased and probably never will, I don't own a business.

[romka7]

So, how does that work? if price of my car is $38k
lets say I qualify for .00025 MF which is 6%

Traditional Lease with 3K capital reduction and 58% (15k lease) residual is

38000 * .58 = 22080 with 15920 depriciation
35000 (incl cap reduction) + 15920 is 50920 * .06 = 3055 (rent charge)
Payment would be 15920 + 3055 = 18975 div that by 36 mnth is 527 + tax

Now instead of Cap reduction put that money into security dep what would that look like?

[NJKSC27]

great deal, do it

maybe even ask for 550/month and offer to take the car right there at 550/month.

[buckwheat986]

this is good info...thanks

we are starting to see some reasonable costs for this car....

[sid33]

Yea just a little FYI... I plugged the exact options in the lease calculator at BMWUSA website and it gave me $611 per month for the same set up as I listed above. Im sure there are factors that can change this and you cant always go by whats on the website but just thought Id add that in for the people that are logging on and getting prices that may seem to hi for them. Its a good idea to go to your local dealer and speak them in person about it ...

As for me I appreciate all the feedback everyone.. NJKSC27 , I was thinking thats a good idea, I think $550 a month I could live with so Ill see what happens....

[romka7]

Plus what people don't realize when they buy VS lease is you are not paying tax on the whole thing... With my example above you are paying 3k rent charge plus tax on 15920 which is at say 7% would be 1,114 total of finance charges and taxes is little over $4k + 3k capital reduction is 7K. When you finance that $35000 you are paying finance charge at 5% of $1750 + 2660 tax comes out to around $4.5k now your car will be worth about the same after 3 years... but when you go trade it in yourself is it worth overpaying 2.5K on the lease? Dealers will not give you that same residual, who knows with gas prices going up the car that consumes less than 40mpg might have a very low residual. That was my thinking behind leasing.

[NJKSC27]

yea if they wanna sell a car they will do the 550/month