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09-10-2009, 12:09 AM | #1 |
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Are these lease offers as bad as I think they are?
Hello All,
I have been lurking this board for almost two years and I am finally ready to order, but I think I am getting bad lease offers. Looking for some input/advice. I also want to say thanks to all for all of the info I have received about this car. Here is the deal: 2010 135i Metallic Paint Leather Steptronic M Sport Package Sirius XM MSRP = 41,700 Offer = 39,000 OR 2010 135i Non-metallic paint leatherette M Sport Package Steptronic Sirius Xm MSRP = 39,770 Offer = 37,000 I am looking for 15k miles a year. $ down. However, I will pay fees, first months payment and security deposit up front. residual 59% money factor is .0026 36 months term My best offer so far: Metallic-$593.07 + tx Non-metallic-$562.02 + tx Is this right? BTW I have one dealership offering 38,895 for the car with metallic paint now. Thanks for the help sorry for the long post. |
09-10-2009, 12:36 AM | #2 |
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no, that money factor is way too high, it has been .0022 for a long time now on 24 and 36 month deals, the dealer is trying to take more in the money factor http://www.leasecompare.com/auto_lea...forum.php?f=18 check there over the next couple days, september rates should be up soon
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09-10-2009, 01:03 AM | #3 |
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i notice you are in the bay area... what dealership are you working with right now?
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09-10-2009, 05:58 AM | #4 |
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Money factor is 220 for September (confirmed with dealer), not 260.
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09-10-2009, 07:58 AM | #5 |
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So essentially you want to do better than $245 above invoice on a 2010 model? Factor in MACO, and the dealership is losing on this deal.
PS.. I don't even believe you can get this deal... If you can, why in the hell are you complaining about it?
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09-10-2009, 08:09 AM | #6 | |
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Just for comparison I have an 09' on order (should be here in a week or two!) and I had the following terms: BSM Steptronic Nav Comfort Access Premium Audio MSRP: 42,425 Sale Price: 39,700 MF: .0022 15k / 36 months I paid first month and security deposit up front (~1300) but rolled the other fees into the lease. Living in IL we get the shaft when it comes to taxes on a lease - paying it on the entire sale price of the vehicle and not just the depreciated portion. I did get the $750 lease cash though. All said and done I'm going to have a payment of 599 a month and that includes taxes. I'd be interested in seeing how they would break those numbers down they gave you, because your prices seem kinda high without taxes rolled in. Just my $.02 |
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09-10-2009, 08:13 AM | #7 | |
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I priced the car at 2 dealers and both said the same thing. 2009 you get 220 and $750 free Cap Cost
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09-10-2009, 09:21 AM | #8 |
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You're right. I just listened to the voicemail again and it's 230. My bad!
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09-10-2009, 09:34 AM | #9 |
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Well look at the positive, the residuals and MF's are lower than the 3 series... This time last year the MF was around 300
I doubt we will see a MF at below 200, but all in all this is the cheapest you can lease a 1er since its inception... In the past, leasing a 1er could have been more than a 3er... now, def not
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09-10-2009, 09:55 AM | #10 |
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if the dealer really is potentially losing on the sticker then that's exactly the reason they are quoting you a high money factor, that's where they plan to make money off you
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09-10-2009, 10:12 AM | #11 | |
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I guess It wouldn't matter to me as long as the profit from finessing the MF was in line to what I thought was fair and in line to that of making it off the car itself. With that said, I think it's a bit shady to do so... I would guess most CA's that would pull this are banking on the fact that you do not know the base rate, and want you believe they are hooking you up with an unbelievable deal. I could be wrong, but I would be turned off by this approach.
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09-10-2009, 10:37 AM | #12 |
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exactly what they are doing, because most people don't know them
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09-10-2009, 11:22 AM | #13 |
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Also, you don't have to use BMW to finance your lease. You can get a lease quote from leasecompare.com. Leasecompare.com would just write BMW a check for the purchase price and then you'd lease it from them instead. You might get a better deal. You also might be able to use any quote you got from leasecompare.com as a bargaining chip at the dealer. Especially if they give you a better rate. BMW might be able to match it and maybe even beat it to keep your business.
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09-10-2009, 11:44 AM | #14 |
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09-10-2009, 11:56 AM | #15 | |
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you have to put a value on your time. Why not just offer invoice +500 (With the base rate). Realisticly, how much lower can you get than that? All this back and forth can not be worth the extra $2-3 a month you will save by working so hard. Assuming you have several deals that are all in the same ballpark, I would also advise going to the dealer you like best, the one that is the most professional and helpful, even if his or her price is a few dollars more a month. the old saying goes, penny smart dollar foolish.
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09-10-2009, 11:59 AM | #16 |
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Thanks for all the input so far.
I think the sale price I am getting is amazing. Wish I was financing but I just got my first job out of college and don't have a lot of capitol to buy this car. I need a car really soon because my Saab is dying. I really want this car, but I don't want a $600 car payment right now either. Maybe I'll put some money down to get the payments lower. I'll keep everyone posted on how this shakes out. |
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09-10-2009, 12:15 PM | #17 | |
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Also, working with dealers outside of your home area could come back to bite you when you go in for service. Many dealers only offer loaner cars to their own clients. Haggling over $200 that will be spread out over the duration of a lease is completely worthless. If your local dealer is where you'll be servicing the car, I highly recommend you buy it from them so long as their not off the charts with price.
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09-10-2009, 12:36 PM | #18 | |
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The sale price is amazing, but if you were buying the car cash, I am willing to bet all these dealerships would not be lining up to either lose money. If you are hard up for cash, I would advise against putting money down to lower the payment. If the car gets totalled you do not recover the cash. I would suggest multiple security deposits. That or leave the cash in a seperate acct, and draw on it each month.
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09-10-2009, 12:37 PM | #19 |
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seriously man...you are getting a smoking deal. you are getting it barely over invoice, on a spec'ed out for you built 2010. that is a KILLER DEAL!
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09-10-2009, 01:07 PM | #20 | |
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I will be leasing yes. Please feel free to PM me and I can give you more details or the salesman name if you want. I am very happy with the process.
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09-10-2009, 01:57 PM | #21 |
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at this point, you are trying to squeeze water out of a rock, I hope my deal is that little over invoice
Last edited by ksparks; 09-10-2009 at 02:42 PM.. |
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