BMW 1 Series Coupe Forum / 1 Series Convertible Forum (1M / tii / 135i / 128i / Coupe / Cabrio / Hatchback) (BMW E82 E88 128i 130i 135i)
 





 

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      02-27-2008, 01:47 PM   #23
Road Runner
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7.75% ??? Thats steep...
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      02-27-2008, 01:52 PM   #24
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^^^

I don't think we can expect low rates on a new model yet, especially with the popularity of the 1. I've never seen or heard of a new model getting low interest rates.
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      02-27-2008, 01:56 PM   #25
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http://www.1addicts.com/forums/showthread.php?t=4710

Looking at that thread, seems like we might be getting screwed on the residuals as well.
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      02-27-2008, 01:58 PM   #26
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Quote:
Originally Posted by excel View Post
^^^

I don't think we can expect low rates on a new model yet, especially with the popularity of the 1. I've never seen or heard of a new model getting low interest rates.
Understandable, but they just cut most of their rates by 1% and even now the higest rate for any of their other models is 5.9% (335i or M Coupe). I would have thought 6.9% if they were going to put a small premium over other high demand models, which I suppose isn't too far off the mark here.
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      02-27-2008, 03:26 PM   #27
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^^^

Ya, I don't think 7.5%, but 6.9% does sound reasonable if, as you say, they put a small premium on it. I definitely don't think it's going to come in under 6%, if it does I would be surprised.
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      02-27-2008, 04:19 PM   #28
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Just qot 2 quotes for my 135, a lease over 36 months with 20 000km/yr and a finance for 60 months.

It was in a PDF and I dont want to post the whole thing but I dont know how to cut and paste from it very well. Hopefully you can follow it.

UC73 - 135i Coupe $41,700.00
ZAM - M Sport Package $1,600.00
MET - Metallic Paint $800.00
L-ETTE - Leatherette Upholstery $0.00
ZDO - Aluminum Glacier Silver Trim $0.00
TOTAL MSRP $44,100.00
SUBTOTAL $44,100.00
DEALER OPTIONS AND CHARGES
Freight & PDI (1,3 Series, Z4) $1,995.00
Admin Fee $299.00
Gas Tax (Ontario) $75.00
Air Conditioner Excise Tax $100.00
Wheel Locks $79.00
TOTAL SALES PRICE: $46,648.00
LESS: TRADE ALLOWANCE $0.00
PLUS: LEASE SHORTFALL ON TRADE $0.00
NET DIFFERENCE: $46,648.00
GST: $2,332.40
PST: $3,731.84
License Fee $25.00
LIEN PAYOUT / CASHBACK: $0.00
SUB TOTAL: $52,737.24

TERMS: OPT 1
LEASING COMPANY: BMW FS
INTEREST RATE 7.75%
PAYMENT TYPE: MONTHLY
TERM: 36
TOTAL KM AT LEASE END: 60000
CASH DOWNPAYMENT $0.00
RESIDUAL: (59%, 59%) $26,019.00
MONTHLY PAYMENT: $733.40
GST: $36.67
PST: $58.67
TOTAL PAYMENT: $828.74
UPFRONT PAYMENTS:
TRADE AS DOWNPAYMENT $0.00
CASH DOWN: $0.00
Freight & PDI (1,3 Series, Z4) $1,995.00
Admin Fee $299.00
Gas Tax (Ontario) $75.00
PPSA due on Delivery: $44.76
SUBTOTAL: $2,413.76
GST: $120.69
PST: $189.52
License Fee $25.00
1st Payment $828.74
Security Deposit: $850.00
Tax on Trade Equity $0.00
Payable (To) By Customer $0.00
Tax on Shortfall $0.00
Totals + Trade (If App) $4,427.71
Less Customer Deposit (Visa) ($1,000.00)
Due on Delivery+Trade (if App) $3,427.71
Implicit Finance Charge $8,142.40
Total Lease Cost $32,583.61


PAYMENT OPTIONS: OPT 1
Financed by: BMW FS
Sub Total: $52,737.24
PPSA: $73.52
Applicable Taxes: $0.00
Total Amount Due: $52,810.76
Total Downpayment: $98.52
Less Customer Deposit: (Visa) ($1,000.00)
Amount Due on Delivery: ($901.48)
Amount Financed: $52,712.24
Implicit Finance Charge: $11,038.96
Total Obligation over Term: $63,751.20
Term (in years) * Pmts/year 5Yrs*12pmts
Interest Rate (APR): 7.75%
Balloon $: $0.00
Monthly Payment: $1,062.52
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      02-27-2008, 05:15 PM   #29
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So....Lease payment of $828/month. Not bad. I got a 328i coupe quote (36 months, 6000km) with similar options and it rang in at $824/month.

Question, if I plan on trading in my '04 RSX (which I own), is that money used as a down payment? Will they give me the cash?

I want to avoid selling in privately...but putting that much down on a lease can't be a good idea.

Thanks!
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      02-27-2008, 05:19 PM   #30
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Out of curiosity, does anyone know what the lease rates were for the 335 and 328 coupe when they first came out?
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      02-27-2008, 05:25 PM   #31
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Is anyone putting a down payment on their lease to reduce monthly payments? With a rate of 7.75%, does it make a difference?
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      02-27-2008, 05:33 PM   #32
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WTF??? How can we accept being screwed over so much! I want to back out! Even if they keep my deposit! Anyone else with me?
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      02-27-2008, 06:16 PM   #33
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^^

Wow 7.75% seems really high??? Is there a reason you want to lease, ie. business? If you want the car and don't need to lease I'd suggest you go to your bank and try to finance the car. I'm sure you can get a better rate.

In terms of trading in your car, as far as I'm aware, you don't have to put the full amount towards your car, you do get a tax break on the amount you do put towards your car though. That amount is not taxed.

A word of advice, I'm sure you're aware of this, but negotiate your trade separately from the total car price. Also, it might not be the smartest thing to tell them, before you agree to the price of your trade, that you don't want to put it all towards your car.
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      02-27-2008, 06:24 PM   #34
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With that interest rate, I am going to withdraw 100%. That's insane considering that the 3er sedan is 3.9% and 3er coupe 4.9%! Good luck to those of you who will be leasing this.
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      02-27-2008, 07:18 PM   #35
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^^^

Ya, I don't blame you...7.75% seems really really high, but we all know BMW's gouging ways!
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      02-27-2008, 07:23 PM   #36
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Quote:
Originally Posted by excel View Post
^^^

Ya, I don't blame you...7.75% seems really really high...

Thanks. I mean, its completely okay to be 7.75% 3 years ago, but just not in today's market at a much lower rate, including BMW's own rate. It frustrates me that they've gone so far to introduce this car in NA, got the pricing so what acceptable and just blew the lease rate. Thats just too bad. I guess I'll buy something else.
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      02-27-2008, 07:26 PM   #37
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Quote:
Originally Posted by Ronsil View Post
With that interest rate, I am going to withdraw 100%. That's insane considering that the 3er sedan is 3.9% and 3er coupe 4.9%! Good luck to those of you who will be leasing this.
X 2 !

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      02-27-2008, 07:34 PM   #38
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Quote:
Originally Posted by Ronsil View Post
Thanks. I mean, its completely okay to be 7.75% 3 years ago, but just not in today's market at a much lower rate, including BMW's own rate. It frustrates me that they've gone so far to introduce this car in NA, got the pricing so what acceptable and just blew the lease rate. Thats just too bad. I guess I'll buy something else.
My thought exactly. First thing I thought when I saw the 7.75% was what year are we in?!

Are these numbers 100% confirmed?

I guess we also have to realise that, it's a supply and demand thing...economic's a bitch!
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      02-27-2008, 08:13 PM   #39
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Quote:
Originally Posted by excel View Post
My thought exactly. First thing I thought when I saw the 7.75% was what year are we in?!

Are these numbers 100% confirmed?

I guess we also have to realise that, it's a supply and demand thing...economic's a bitch!
I believe the PDF that YYZATC was referring to is the one given to dealers. My dealer called me and said the rate was 7.75% but I had a few other questions and he said he needed to read through something more thoroughly and call me back. So, I am assuming that 7.75% is correct. I'm gonna forget the 1 series. Gonna import me a 04-05 zhp for much less.
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      02-27-2008, 08:21 PM   #40
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^^
enjoy your purchase! quick question aren't the M3's around the same price as ZHP? if so why not a M3?

I'm not doubting you, but if these figure are official how come no one else has these #'s?
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      02-27-2008, 08:46 PM   #41
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Quote:
Originally Posted by excel View Post
^^
enjoy your purchase! quick question aren't the M3's around the same price as ZHP? if so why not a M3?

I'm not doubting you, but if these figure are official how come no one else has these #'s?
Give your dealer a call and ask. They might have the numbers for you.
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      02-27-2008, 08:56 PM   #42
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If you dont beleive them you will soon enough. Take a look at the US lease rates which were just released today as well. Not many happy people over there. Now they know how we are feeling but we just get the double wammy, higher prices and terrible rates.

Below is the email exchange from earleir today.

We actually just got the rate and residual information.
I can work out the numbers for you if you can let me know how many kms you want per year (12000km/year, 16000km/year, 20000km/year or 24000km/year)
Lease will be 36months lease, and finance option can be up to 60months.
Let me know your preference, I will workout the numbers and send it to you.
Thank you.



That would be great. How about a 36 month lease with 20 000km/yr and a finance with a 60 month term.

Do the interests change depending on the length of the term? If so please provide the interest rates for 36/48/60 months.

Thanks,


Date: Wed, 27 Feb 2008 15:39:50 -0500



I have attached both lease option and finance option for you.
The interest rate for 36/48/60 are all 7.75% from BMW Financial Services for the 1 series.

Lease rate is also 7.75% for 36month term.

Let me know which option makes more sense to you.


Thank you.
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      02-27-2008, 09:08 PM   #43
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What is the money factor being used on the 1 series?

The interest rate may seem high, but it's not the only variable to consider.

A difference between a money factor of 0.00270 and 0.00320 (just as an example) on a $50,000 car can impact your payment by about $40-50 a month on a 36 month lease.
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      02-27-2008, 09:25 PM   #44
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I will admit I have never leased a car and never considered it therefore I know nothing about a lease.

It was my understanding that money factor is the same thing as lease rate just expressed in a different form.

7.75/2400 = 0.00323

I am sure I will be corrected almost instantly on here if I am wrong. Hahaha
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