Whats your lease payment?

[alextclam]

Originally Posted by dencoop

Guys PM me....

$1000 over invoice
.00125 MF
61% res 36/10k per year

No games, no BS..... All day long

Hey, your quota is full and not accepting PMs. I see you're in Brooklyn. I'm interested in the dealer where you got this deal from. Please send me some more details. Thanks.

[AnthonyL88]

My CA in Long Island, NY is saying don't believe everything you read on the forum. Then he goes everybody who's getting these great deals are located out of state etc. So, if someone can please PM me with some info with getting good deals in the NYC Tri-State area. Thanks!!

[alextclam]

I feel ripped off. Back in Sept 2010 when I got mine, the leases were ridiculously high so I ended up getting Select Finance. Now I'm stuck with 2 more years and a balloon payment at the end. The warranty expires in Sept 2014. I'm trying to trade it in and getting back into a lease!

[likecarz]

2014 X5 35i M Sport
$74,300 MSRP
$1k over invoice less $1k loyalty..bought at invoice.
Partrick BMW near Chicago
Ordered 11/14..ETA end Jan.
No bull...

[krnnerdboy]

60775 msrp
1k over invoice
1k loyalty rebate
56500 purchase price
37k lease end purchase
3yr 10k mi a yr
61% residual
3k out of pocket
.00125 mf
$630 plus tax

Waiting to get into finance office....

[krnnerdboy]

Originally Posted by alextclam

I feel ripped off. Back in Sept 2010 when I got mine, the leases were ridiculously high so I ended up getting Select Finance. Now I'm stuck with 2 more years and a balloon payment at the end. The warranty expires in Sept 2014. I'm trying to trade it in and getting back into a lease!

Yeah, the select finance doesn't make any sense. Especially bc you'll be paying interest on the taxes as well! Unless they're offering a 0% on the purchase interest, I wouldn't consider it an option.

[Habsone]

Originally Posted by okiekids

I have a lease question too. I've owned several BMWs but have never leases one. Will BMW let you prepay your lease? And, will they give you some kind of break for getting all their money upfront similar to other car companies?

I do not post much but your post compelled me to post following.

For those of us who are considering leasing. Never put any money down in order to lower your monthly payments let alone paying off your entire lease, because in an event of an accident if your vehicle is totaled you will lose all the money you have put in to your vehicle. Best and wise thing to do IMO is to pay only what is required when taking the delivery of your vehicle. Smart way to lower payments is to do the 7 MSD as some of the members have suggested.
My 2c.

Regards,
Habsone

[darksilkx1]

Originally Posted by vhsm1

I do not post much but your post compelled me to post following.

For those of us who are considering leasing. Never put any money down in order to lower your monthly payments let alone paying off your entire lease, because in an event of an accident if your vehicle is totaled you will lose all the money you have put in to your vehicle. Best and wise thing to do IMO is to pay only what is required when taking the delivery of your vehicle. Smart way to lower payments is to do the 7 MSD as some of the members have suggested.
My 2c.

Regards,
Habsone

True words.

[Shaw]

why don't you guys finance the car but with a balloon amount? It is far better than lease...and you would own the car plus the fact that you have no limitations on the mileage and tires and all other stuff...(not to mention the extra costs associated to that!)
the monthly payments are similar to a lease (even lower)
residual value? well a car that was financed has a higher residual value than a leased one...so even if you decide not pay the balloon and trade it in with another car, you can with a higher value (normally a couple of thousands of dollars higher)...also you get the tax savings when you trade on your new ride...
you can also sell the car privately at a higher price...
I don't see any value by leasing...you are essentially throwing your money out without owning a handle of the car at the end...
make sense?

[Shaw]

by the way the lease rate currently is 1% higher than finance...

[Shaw]

Originally Posted by alextclam

I feel ripped off. Back in Sept 2010 when I got mine, the leases were ridiculously high so I ended up getting Select Finance. Now I'm stuck with 2 more years and a balloon payment at the end. The warranty expires in Sept 2014. I'm trying to trade it in and getting back into a lease!

but what's wrong with that???
why do you want to sell your car (or trade it) ahead of its due date?
Sell your car privately...then do the deal through the dealer and save on the taxes...
That's what I've done...best of both worlds...sold my X3 for a much higher value privately, took the buyers in my dealership, (my selling price was around $7,000 more than the highest trade-in value that I had received from the dealerships + saved around $5,200 on my X5 taxes...)

[Windy City]

Just curious but you guys that lease your cars don't really drive em a lot?

10,000 miles a year?

I put 20 to 24K a year on my DD alone.

It seems like it would be hard to keep it under 10K?

[gblansten]

Originally Posted by Windy City

Just curious but you guys that lease your cars don't really drive em a lot?

10,000 miles a year?

I put 20 to 24K a year on my DD alone.

It seems like it would be hard to keep it under 10K?

[darksilkx1]

Originally Posted by Windy City

Just curious but you guys that lease your cars don't really drive em a lot?

10,000 miles a year?

I put 20 to 24K a year on my DD alone.

It seems like it would be hard to keep it under 10K?

Depends on your commute. I leased a 335i this year and got 15k miles per year. I'm on track for maybe 11k the first year including about 700 miles from the Performance Center Pickup. You just have to know what you need.

[1FastSicilian]

cant disclose exactly what i am paying but I got the employee lease program

[BMWMN1971]

I am in my 4th X5 since 2006 and they were all leases. In my opinion it fits my needs. Wife drives a new car every 3 years, she never puts more than 12k miles per year in it by driving just in the metro area. With the leasing you don't have to worry about trading the car when you want a new one and don't have to worry about warranty expiring, etc... Also, BMW maintenance program makes it worry free with no cost out of your pocket during the duration of the lease. In my case, right before lease is up I negotiate e new leasing and when the new car arrives I return the old one. Simple and easy if you are comfortable with the financials. I always pay only 1st PMT plus fees, registration and sales taxes upfront.

[tiburonh]

+1

[patrobX5]

Originally Posted by gblansten

OMG I love that font

[patrobX5]

Would lease calculations in Canada be similar to US, like the residuals, MF, etc.? Those lease numbers do look a bit confusing to me

[NikonMan]

Lease payments are fairly straight forward to compute ... MF is 3% (.00125) and the residual is 61% for 10k miles for the current program.

The residual value is the predicted value of the vehicle at the end of the lease term. The difference between your negotiated cost and the residual value is what you pay for - amortized over the term of the lease.

The monthly payment is a function of the cap cost (less cash down) + finance charge + tax. Items paid outside of the lease (acquisition, docs, etc.) are excluded from the lease payment. Tax is paid on the monthly depreciation amount, plus the finance charge.

As such comparative lease payments are not of much value as it entirely depends on the negotiated capital cost of the vehicle, less cash down reduction, plus whatever the local tax rate is.

[NikonMan]

Originally Posted by Shaw

by the way the lease rate currently is 1% higher than finance...

Finance rate is 2.99%
Lease rate is 3.00%

Difference is .01%

With 7 MSD's on a lease you can reduce the rate to 1.17%

[chiefmike]

15K upfront, 68K list, 10K miles, $394 which includes Taxes & Plates.