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      02-13-2016, 06:22 PM   #23
///AVE HT
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Thanks guys for the input. I just applied at PenFed and they offered $590/month with @$20k down. This is a purchase based on a balloon payment program and is NOT a lease.
Seems like a much better deal. I'll give the ex-wife the 335i just to get it off my credit report. She has agreed in writing the M is mine.

Win! Win!
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      02-13-2016, 07:02 PM   #24
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Omg

They should be kissing your feet with that much cash down. Only buy the car with that much down. I always get nervous when dealers manipulate the MF. Find another dealer it's not worth it.
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      02-13-2016, 07:07 PM   #25
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Quote:
Originally Posted by ///AVE HT View Post
Thanks guys for the input. I just applied at PenFed and they offered $590/month with @$20k down. This is a purchase based on a balloon payment program and is NOT a lease.
Seems like a much better deal. I'll give the ex-wife the 335i just to get it off my credit report. She has agreed in writing the M is mine.

Win! Win!
Congrats, please post your final numbers aka OTD costs, including your payments.
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      02-16-2016, 08:33 PM   #26
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Quote:
Originally Posted by ///AVE HT
The loyalty credit was for :
**Short version** I was driving and already had my F80 build in process
my ex-girlfriends 2012 650i vert left us stranded in the middle of the road when the car shut off due to transmission failure notice and wouldn't restart. Tried to get it towed by AAA and they couldn't get it into gear either. Ended up calling BMW roadside. The car was stuck in traffic for over 6 hours. They ended up replacing the motor saying they found shards of metal, but couldn't determine the cause of failure.

It was a bad day!!

As to buying: I'm getting divorced and she can't have it!
Ah, ok , thanks for explaining, and sorry for your expedience.

Thought there was a program out I didn't know about.
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      02-16-2016, 09:29 PM   #27
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The money factor seems explainable.. BMW can add upto 0.00060 to the sales support rate of 0.00132 depending on how bad your credit is. If they mark it up it should be 0.00232 plus 0.00015 for the security deposit waiver so 0.00247. I would imagine the dealer is using something called "regional rates" instead which would be 0.00245.

The cash down may be a requirement from BMW - depends a lot on your history of loan payments... this may not be all down the dealer - BMW FS may have had a lot of input and the dealer is just giving you what they had... without seeing the actual approval its hard to say.

#devilsadvocate
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      02-17-2016, 12:03 AM   #28
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$25k is way too much for a lease. I would just finance it or just prepay the lease with that $25k. Why pay $25k and still have a lease payment?
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      02-17-2016, 07:32 AM   #29
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I dont understand this?

MSRP $84,695.00
Negotiated for $2k over us invoice: @$71,500.00
$1000 build allowance
$2000 BMW loyalty check

If they are selling you the car for this price, you are no doubt getting the best discount ever on it. $13k off?? maybe I am not reading correctly.
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      02-17-2016, 07:45 AM   #30
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Quote:
Originally Posted by ///AVE HT View Post
Thanks guys for the input. I just applied at PenFed and they offered $590/month with @$20k down. This is a purchase based on a balloon payment program and is NOT a lease.
Seems like a much better deal. I'll give the ex-wife the 335i just to get it off my credit report. She has agreed in writing the M is mine.

Win! Win!
What's your balloon payment? BTW your initial lease with $25k down looks screwed up. Your capitalized cost was $80K, that should be your final sale price of $71K instead.
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      02-17-2016, 10:26 AM   #31
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A lot of people are saying no money down is this true to even on tax, tags, etc?

Ex. I am in VA - sales tax is on entire purchase price for a lease so would it be recommended to roll that into the cap or pay it down with taxes, tags, etc? Only thing I can think of is if a total loss were to occur - assuming I wouldn't be reimbursed that amount vs lower monthly and not paying interest on those amounts.

I have a pretty basic build about 70k negotiated price and looking at about 2900 in tax added.
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      02-20-2016, 12:56 PM   #32
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Quote:
Originally Posted by kim6jj View Post
A lot of people are saying no money down is this true to even on tax, tags, etc?

Ex. I am in VA - sales tax is on entire purchase price for a lease so would it be recommended to roll that into the cap or pay it down with taxes, tags, etc? Only thing I can think of is if a total loss were to occur - assuming I wouldn't be reimbursed that amount vs lower monthly and not paying interest on those amounts.

I have a pretty basic build about 70k negotiated price and looking at about 2900 in tax added.
you can pay tax and tags up front or in the lease. never ever put money down on a lease and use a forum dealer to get a good baseline - they're probably going to be your best deal anyway unless you have a line to a good local dealer.
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      02-20-2016, 01:03 PM   #33
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If you put $25,000 down, god forbid you get into and accident and total the car there goes all your $25,000. BMW will thank you and you will get $0 out of it. Never never put that much down.

As people mentioned, you only put money down on financing the car.
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      02-20-2016, 02:44 PM   #34
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Quote:
Originally Posted by vegasevo9
If you put $25,000 down, god forbid you get into and accident and total the car there goes all your $25,000. BMW will thank you and you will get $0 out of it. Never never put that much down.

As people mentioned, you only put money down on financing the car.
I'm not so sure about that loss of all the down payment. The insurance company should pay the same claim amount whether the car is owned / financed or leased so if the claim is more than the lease buyout, wouldn't the lessee get the difference back? Sure, it will be less than the full down payment, but I don't think it just suddenly disappears as everyone seems to think. Also, you aren't going to be in a much better position if you purchase a car with a lot down (or outright with cash) and wreck it the next month unless your policy has new car replacement. You'll lose a portion of your down payment then as well.

That being said, I agree with not putting a lot of money down on a lease because people do that mainly to get to a monthly payment they want, which IMO is not a very good approach to leasing a car even though it is widely done. Ultimately, if concerned about losing money after an accident, it would be best to put as little down as possible (combined with GAP insurance) whether leasing or buying.
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      02-21-2016, 09:10 PM   #35
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Quote:
Originally Posted by vegasevo9 View Post
If you put $25,000 down, god forbid you get into and accident and total the car there goes all your $25,000. BMW will thank you and you will get $0 out of it. Never never put that much down.

As people mentioned, you only put money down on financing the car.
So much misinformation in this thread. This is just flat out false.

I agree that $25K is A LOT to put down for a lease, but it doesn't just go up in smoke if the car is totaled. Insurance will pay out the fair value of the car, the only time this becomes an issue is if you wreck the car very early into ownership. Because the depreciation curve is so steep at the beginning of ownership, it's possible to for the car to be worth quite a bit less than what you paid for it and still have a substantial payoff left on the lease. Putting money down just means that you assume this risk (with 0 down this isn't an issue as no one assumes the risk and the included gap insurance would make BMW whole).

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      02-22-2016, 04:20 PM   #36
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Quote:
Originally Posted by bigsid05 View Post
Putting money down just means that you assume this risk (with 0 down this isn't an issue as no one assumes the risk and the included gap insurance would make BMW whole).
But this is exactly why people say "If you put money down on a lease and total the car, the money is gone". As has been said many times, typically the reason money is put down on a lease is to lower the monthly payment. All of that money is immediately tied up in the car.

If you had kept the cash and gone with whatever the normal payment is, or done MSD's, then the money isn't tied up in the car if it's totaled. You're absolutely right that if you put a bunch of money down and have the car through the life of the lease, it doesn't matter. You're going to pay BMW the money one way or another.
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      02-22-2016, 04:42 PM   #37
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Quote:
Originally Posted by MRCUR View Post
But this is exactly why people say "If you put money down on a lease and total the car, the money is gone". As has been said many times, typically the reason money is put down on a lease is to lower the monthly payment. All of that money is immediately tied up in the car.

If you had kept the cash and gone with whatever the normal payment is, or done MSD's, then the money isn't tied up in the car if it's totaled. You're absolutely right that if you put a bunch of money down and have the car through the life of the lease, it doesn't matter. You're going to pay BMW the money one way or another.
If you put 1-2k down then total the car, it might be gone but if you put 25k then you don't loose all of it, you might lose part of it.
Let's say the MSRP is 70K and residual will be 42K in 36 months. If you total the car in a month or two it won't be valued at 45k. Whatever the insurance will value it, after BMW gets their pay off, you get the rest.

Again i'm not encouraging him to put down 25K. I agree that he shouldn't put any money down.
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      02-23-2016, 04:46 PM   #38
///AVE HT
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Update:
Sticker $85,145.00

It's $81,500.00 ($2k over invoice) before discounts

After discounts and loyalty credit I pay $78,500.00
includes: $1000 build credit, $2000 loyalty credit
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      02-23-2016, 05:00 PM   #39
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I didnt even know you could put that much money down on a lease. Just out of curiosity, what is the most you can put down anyway?
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      02-23-2016, 05:16 PM   #40
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Quote:
Originally Posted by Donger Kim
I didnt even know you could put that much money down on a lease. Just out of curiosity, what is the most you can put down anyway?
As much as you want. Some manufacturer financing companies offer single lease payment leases for those that wish to pay for the entire lease upfront.
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      02-23-2016, 05:19 PM   #41
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Quote:
Originally Posted by ///AVE HT View Post
Update:
Sticker $85,145.00

It's $81,500.00 ($2k over invoice) before discounts

After discounts and loyalty credit I pay $78,500.00
includes: $1000 build credit, $2000 loyalty credit
Loyalty credit is 2000??? I thought it was 500 x 2? Anyone else know about this?
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      02-23-2016, 06:49 PM   #42
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Quote:
Originally Posted by Donger Kim View Post
I didnt even know you could put that much money down on a lease. Just out of curiosity, what is the most you can put down anyway?
You can pay for the entire lease in one shot if you want.
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      02-24-2016, 09:08 AM   #43
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Quote:
Originally Posted by ///AVE HT View Post
Update:
Sticker $85,145.00

It's $81,500.00 ($2k over invoice) before discounts

After discounts and loyalty credit I pay $78,500.00
includes: $1000 build credit, $2000 loyalty credit
Not a bad deal if they can get you a production number. Just make sure you aren't getting screwed on any of the other details on the deal.
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      02-24-2016, 09:36 AM   #44
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Quote:
Originally Posted by MRCUR View Post
You can pay for the entire lease in one shot if you want.
I had an ex-girlfriend who did just that. Traded her explorer in on a new one and used all the equity to prepay the entire lease.
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