Smoking deal

[gator70]

My 135 convertible had a sticker of $ 48,750.

I leased it after discount @ 42,000 +/750 discounted against deposit from the factory, for a lease factor of .09, and the payment is $379

[adk749]

Originally Posted by gator70

My 135 convertible had a sticker of $ 48,750.

I leased it after discount @ 42,000 +/750 discounted against deposit from the factory, for a lease factor of .09, and the payment is $379

How much did you put down?

[dbtheo]

what you wrote makes 0 sense.

leasing a car @ $42k with a .09 lease factor would equal a payment of thousands of dollars...

[jjlawyer]

What's a lease factor? Do you mean money factor? And do you mean .0009?

[dbtheo]

Originally Posted by jjlawyer

What's a lease factor? Do you mean money factor? And do you mean .0009?

must be... thats the only way. Definitely a regional program... I could only wish for rates like that here....

[dbtheo]

Originally Posted by jjlawyer

What's a lease factor? Do you mean money factor?

same thing... basically it's the interest you are paying. a .0009 rate would equal a 2.16% apr

[BlackjackMulligan]

Ugh. If it's a '09 (he didn't say) then they would not discount it by $6K. If it's an '08, then I doubt the residual would be that good to get to $379. Also, it's his first post. So it's either BS or he put a ton down on the lease.

[1013mm]

the math is all wrong wth?????????????

[gator70]

No BS,

Money factor was .0009. The term was 36 mo, and the money up front was $4500 at contract signing. There was a factory contribution of $750, so I suppose it would have been $4950 without the factory support. It was a new 2008. The payment less taxes is $379.00.

[jjlawyer]

Looks like you got a great price and a sweet money factor. What was the residual? How many miles? Did they tell you that was the new money factor for April? Is the $750 for loyalty or anyone? Does the rate include a loyalty reduction of .0003?

[Angry3]

Before anyone gets too excited, the OP should have pointed out that he's had his car for at least a month. BMWFS killed the great lease deals on the '08 models at the end of February, and there are no incentives available that are as favorable at the moment. This deal is very similar to the one I made (the selling price is slightly lower, but the dealer marked up the money factor to the max allowed).

BMWFS sometimes offers great lease terms to move old stock at the end of a model year. The downside is you have to find a car on the lot with a color and options that are acceptable. I had to do without a couple of minor options that I would have otherwise wanted, but the cost savings over a new '09 were significant to say the least.

Congrats OP, very nice deal. Hope you enjoy your ride.

[Angry3]

Originally Posted by BlackjackMulligan

Ugh. If it's a '09 (he didn't say) then they would not discount it by $6K. If it's an '08, then I doubt the residual would be that good to get to $379. Also, it's his first post. So it's either BS or he put a ton down on the lease.

Normally you would be right, but when there's a lot of inventory to move FS will keep the residuals high. The 15K residual on the 135 vert blowout deals was 56%, on my car it was 58 (36 mo./12K/yr lease). I think that was only 1 point less than the '09s at the time.

Big discounts + loyalty/conquest cash + good MFs + inflated residuals equaled some great lease deals on '08 135s and M3s. And the nice thing about leasing is it doesn't matter as much that the car is old stock since BMW bears the risk of it tanking in value.

[BlackjackMulligan]

He forgot to mention that he came up with $4500 at signing, that makes a big difference. Plus tax puts him around $410. My '09 took about $5K at signing all in and my payment is $477 per month INCLUDING tax. So similar deals.

[dbtheo]

Originally Posted by BlackjackMulligan

He forgot to mention that he came up with $4500 at signing, that makes a big difference. Nice deal!

well, he also paid his taxes up front, that was probably included in his money due. But yeah, nice deal. I'm sitting on an 08' vert here with NO lease program. I could do a similar discount, but you'd hate the MF

[InlineSix]

How many miles on the lease?

[ulrichd]

Originally Posted by dbtheo

well, he also paid his taxes up front, that was probably included in his money due. But yeah, nice deal. I'm sitting on an 08' vert here with NO lease program. I could do a similar discount, but you'd hate the MF

$4500 plus tax up front, that's crazy money to put down on a lease. Why not order a car with fewer options, and finance for 5 years? At least you'll have some equity in the car instead of kissing your cash goodbye.

[JHZR2]

+1

[gtaday51]

If hes tellin the truth he getting off better than I am. $414 a month...but I did put 15K down...maybe he put a hell of a lot more down than I did. I fully plan on keeping the car, but back in August it was cheaper to lease the car and then finance the remaining payments on the car when the lease expires.

[BimmerLearner]

Ho was mf 0.0009? my deal was similar on my 08 vert 0 down and 468 a mth so figures could be real with 5k down

[Angry3]

Originally Posted by BimmerLearner

Ho was mf 0.0009? my deal was similar on my 08 vert 0 down and 468 a mth so figures could be real with 5k down

Dealers can (and do) mark up the MF by up to .0004, which this dealer did. They gave quite a bit on the sale price, then took some of that money on the back end of the deal. The OPs deal was real I expect, I just wish folks would give complete details so people here understand all of the terms.

Nice lease BimmerLearner, incredible payment for 0 down. Was your car well optioned?

[BimmerLearner]

Oh yeah, forgot about the maximum fees, my deal was done via email so I stuck base MF and Aq fees as a criteria. My car isnt loaded, fairly basic, sticker was 44k paid 39k vert with sports pack and couple other bits.

[gator70]

My payment is $379 + taxes.

Here are the details for those who requested it (numbers from the dealer):

Money due at Inception:
1st month payment 415.00
Security deposit 0.00
Acq fee 0.00
Fees & Ins 466.00
Upfront Taxes 346.58
Cap Reduction 3,272.42