BMW Leasing 101 / FAQ (BMW emphasis)

[MRCUR]

Originally Posted by tomvu1606

Question: Do we need to pay for oil and maintenance for lease car?

No

[OneRib]

Originally Posted by tomvu1606

Question: Do we need to pay for oil and maintenance for lease car?

No cost unless you are getting a 2015 or newer car via lease transfer. BMW recently changed their policy and now second owners are not covered under the free maintenance plan. This only applies to 2015 or newer cars produced after 7/1/2014.

[MadZarBMR]

Originally Posted by OneRib

... This only applies to 2015 or newer cars produced after 7/1/2014.

Isn't it sold after 7/1/2014 not produced?

http://www.bmwusa.com/Standard/Conte...ceprogram.aspx

[OneRib]

Originally Posted by MadZarBMR

Isn't it sold after 7/1/2014 not produced?

http://www.bmwusa.com/Standard/Conte...ceprogram.aspx

yes I think you're right

[MadZarBMR]

Would anyone on this thread know if BMW has historically offered the Lease Pull Ahead program in January after Holiday incentives expire? I know current program expires 1/4/2016, but I remember getting this offer in January of 2015 and again several times throughout the year. Reason I ask is that am currently in a '13 335 lease that matures in March and am waiting on M3 order due to arrive in January. Hoping I can finally take advantage of this program if I am not able to sell my 335 before then.

[OneRib]

Originally Posted by MadZarBMR

Would anyone on this thread know if BMW has historically offered the Lease Pull Ahead program in January after Holiday incentives expire? I know current program expires 1/4/2016, but I remember getting this offer in January of 2015 and again several times throughout the year. Reason I ask is that am currently in a '13 335 lease that matures in March and am waiting on M3 order due to arrive in January. Hoping I can finally take advantage of this program if I am not able to sell my 335 before then.

Sorry, but I don't know the answer to that.

[e36]

Marking this for future reference. Thank you!

[Dwdrums00]

Since there isn't much action on the other thread I will try this one. Your thoughts?

16’ M4
Full Merino Leather
Executive Package
Driver’s Assistance Plus
Lighting Package
DCT
Adaptive Suspension

MSRP - $79,645 (Pre $300 increase)
Invoice - $73,900
Negotiated $500 above invoice - $74,400
Incentives - $1,250 Option Allowance
Sell price - $73,150

Option #1 Lease
MF = 0.00132
Residual = 59%
Lease Term = 36 months/ 12k miles
Down payment = $2,647 Includes first months payment
Tax = 8.75%
Monthly payment with tax = $962

Option #2 Lease with MSD
MF = 0.00083
MSD = $6,300
Down payment = $2,583
Monthly payment with tax = $898

[OneRib]

Originally Posted by Dwdrums00

Since there isn't much action on the other thread I will try this one. Your thoughts?

16’ M4
Full Merino Leather
Executive Package
Driver’s Assistance Plus
Lighting Package
DCT
Adaptive Suspension

MSRP - $79,645 (Pre $300 increase)
Invoice - $73,900
Negotiated $500 above invoice - $74,400
Incentives - $1,250 Option Allowance
Sell price - $73,150

Option #1 Lease
MF = 0.00132
Residual = 59%
Lease Term = 36 months/ 12k miles
Down payment = $2,647 Includes first months payment
Tax = 8.75%
Monthly payment with tax = $962

Option #2 Lease with MSD
MF = 0.00083
MSD = $6,300
Down payment = $2,583
Monthly payment with tax = $898

Looks like a very good deal. I'm assuming the disembodiment includes fees do just make sure they don't pad those with bogus or inflated items.

The MSD option saves you $2300 over the life of the lease plus you get back the MSD payment. I like MSDs if you don't plan on getting out of the lease early (transfer) and you have the money.

[Dwdrums00]

Thanks OneRib! I have never leased or even considered it so I really appreciate the input.

The drive off fees for the MSD option are:
Acq fee: $925
Doc fee: $80
Reg fee: $591.75
First month payment: $898.68 includes tax

Not sure where the additional $87.94 is coming from but I am not worried about it.

[OneRib]

Originally Posted by Dwdrums00

Thanks OneRib! I have never leased or even considered it so I really appreciate the input.

The drive off fees for the MSD option are:
Acq fee: $925
Doc fee: $80
Reg fee: $591.75
First month payment: $898.68 includes tax

Not sure where the additional $87.94 is coming from but I am not worried about it.

Registration fee seems high, but that can vary a lot by state. As long as that is in line with normal state registration fees, make the deal and enjoy the car. You'll enjoy leasing. It's a great way to buy cars as long as you don't want to do a lot of aftermarket customization and you enjoy having a new car every few years.

[Dwdrums00]

Originally Posted by OneRib

Registration fee seems high, but that can vary a lot by state. As long as that is in line with normal state registration fees, make the deal and enjoy the car. You'll enjoy leasing. It's a great way to buy cars as long as you don't want to do a lot of aftermarket customization and you enjoy having a new car every few years.

Registration seems inline for California unfortunately. Fun you mention, I plan to modify with M performance parts, lowering and wheels. Like all of my cars, I always return them to stock before selling (usually every 2 years or so.)

[OneRib]

Originally Posted by Dwdrums00

Registration seems inline for California unfortunately. Fun you mention, I plan to modify with M performance parts, lowering and wheels. Like all of my cars, I always return them to stock before selling (usually every 2 years or so.)

Yes those mods are fine. Some people lease and then are "shocked" to find out they can't replace the upholstery or drill holes throughout the car to install a custom stereo, etc.

[exclusivedetails]

I have a question on lease transfer in NJ but might be applicable to other states.

I'm looking to do a lease transfer. I am from NJ and the person who has the car is also in NJ. If I do a lease transfer and go to the DMV to get it registered, do I have to pay taxes again? I believe the lease payment has the taxes rolled in already.

[OneRib]

Originally Posted by exclusivedetails

I have a question on lease transfer in NJ but might be applicable to other states.

I'm looking to do a lease transfer. I am from NJ and the person who has the car is also in NJ. If I do a lease transfer and go to the DMV to get it registered, do I have to pay taxes again? I believe the lease payment has the taxes rolled in already.

You shouldn't have to pay taxes again, but I also hedge that with checking with your state DMV. All you should have to pay is the transfer fee and the monthly payments left.

[MRCUR]

Originally Posted by exclusivedetails

I have a question on lease transfer in NJ but might be applicable to other states.

I'm looking to do a lease transfer. I am from NJ and the person who has the car is also in NJ. If I do a lease transfer and go to the DMV to get it registered, do I have to pay taxes again? I believe the lease payment has the taxes rolled in already.

NJ lease tax is on the monthly payment (like PA), so you're fine.

[Mr.Panda]

Hey everyone new to the forum here.

Im looking to get into an x4 so i called and got some quotes. Not sure if this is the right place to post but if it isn't can someone steer me in the right direction. thanks

I tried using the calculator on here but idk if I'm doing it right. If someone can show me numbers that would be great.

Here are the quotes i got from dealer can anyone tell me if they seem right or fair.

Based on what i have been reading the money factor seems high and i don't wanna put money down. I might consider the 7 MSD's.

Also the residuals seem to be around 53% is that correct??

Thanks in advance for any help.


16' BMW x4

Prior Loaner w/ 10k miles on it

MSRP $57500.00

Offered Price $48000.00

Money Factor 0.00152

Residual $30860.00 ( they didn't give me a percentage) based on 10k miles per year

36 months

$3888 cash due at signing

$567 plus tax ( i live in california so tax is 8.75%)

OR

16' BMW x4

Prior Loaner w/ 10k miles on it

MSRP $57500.00

Offered Price $48000.00

Money Factor 0.00152

Residual $30285.00 ( they didn't give me a percentage) based on 12k miles per year.

36 months

$3888 cash due at signing

$582 plus tax ( i live in california so tax is 8.75%

[OneRib]

Originally Posted by Mr.Panda

Hey everyone new to the forum here.

Im looking to get into an x4 so i called and got some quotes. Not sure if this is the right place to post but if it isn't can someone steer me in the right direction. thanks

I tried using the calculator on here but idk if I'm doing it right. If someone can show me numbers that would be great.

Here are the quotes i got from dealer can anyone tell me if they seem right or fair.

Based on what i have been reading the money factor seems high and i don't wanna put money down. I might consider the 7 MSD's.

Also the residuals seem to be around 53% is that correct??

Thanks in advance for any help.


16' BMW x4

Prior Loaner w/ 10k miles on it

MSRP $57500.00

Offered Price $48000.00

Money Factor 0.00152

Residual $30860.00 ( they didn't give me a percentage) based on 10k miles per year

36 months

$3888 cash due at signing

$567 plus tax ( i live in california so tax is 8.75%)

OR

16' BMW x4

Prior Loaner w/ 10k miles on it

MSRP $57500.00

Offered Price $48000.00

Money Factor 0.00152

Residual $30285.00 ( they didn't give me a percentage) based on 12k miles per year.

36 months

$3888 cash due at signing

$582 plus tax ( i live in california so tax is 8.75%

First I would check this thread as it looks to have this months residuals.
http://x3.xbimmers.com/forums/showthread.php?t=1212092

53% residual is low. That number shouldn't change and is not adjustable by the dealer. Only BMWFS can change it.
I pulled these numbers from the same thread.
2016 x4
15k 55%
12k 57%
10k 58%

MF .00132

The dealer is marking your MF up to the maximum. This is a nonstarter especially for a car that served as a loaner. Make sure your credit is good (over 675), and if they don't immediately give you the base MF and the correct residual just leave. No more work needs to be done with them as they aren't serious.

Also I agree you should not be putting any money down except for MSDs.

Over all both deals are terrible just from the standpoint of the jacked up MF and incorrect residual.

[Flying Cadaver]

Hey guys first post here. Thinking of leasing an M4 for 3yr/12k. I live in Maryland, this is the best offer I've gotten so far:

M4 manual - MSRP - $72,645
Sales price - $68,287
$1,018/ month w/ $1,018 total due at signing
or
$879.93/ month w/ $5,625.11 total due at signing(includes tax,tag,reg,processing fee and 1st month's payment)
Residual - $42,860.55

M4 DCT - MSRP - $75,545
Sales price - $71,019
$1,057/ month w/ $1,057 total due at signing
$914/ month w/ $5,823.27 total due at signing

MF = 0.00132
Residual = 59%

As far as I've seen, this seems to be in line with what I should be getting as far as MF/residual, and the sales price is at or near invoice as well, however I can't seem to get below invoice with the option credits.

Any opinions on these numbers?

Thanks for any input, look forward to picking up my M4 and joining this community.

[OneRib]

Originally Posted by Flying Cadaver

Hey guys first post here. Thinking of leasing an M4 for 3yr/12k. I live in Maryland, this is the best offer I've gotten so far:

M4 manual - MSRP - $72,645
Sales price - $68,287
$1,018/ month w/ $1,018 total due at signing
or
$879.93/ month w/ $5,625.11 total due at signing(includes tax,tag,reg,processing fee and 1st month's payment)
Residual - $42,860.55

M4 DCT - MSRP - $75,545
Sales price - $71,019
$1,057/ month w/ $1,057 total due at signing
$914/ month w/ $5,823.27 total due at signing

MF = 0.00132
Residual = 59%

As far as I've seen, this seems to be in line with what I should be getting as far as MF/residual, and the sales price is at or near invoice as well, however I can't seem to get below invoice with the option credits.

Any opinions on these numbers?

Thanks for any input, look forward to picking up my M4 and joining this community.

Welcome to the forum.

There is a pricing thread that will give you better results on price but you are getting base mf for this month and the residual is set by BMWFS. I recommend listing all the options each car had so people can respond about the price. I note anyone else would be able to help with that without all the options each car has.

[Mr.Panda]

Originally Posted by OneRib

First I would check this thread as it looks to have this months residuals.
http://x3.xbimmers.com/forums/showthread.php?t=1212092

53% residual is low. That number shouldn't change and is not adjustable by the dealer. Only BMWFS can change it.
I pulled these numbers from the same thread.
2016 x4
15k 55%
12k 57%
10k 58%

MF .00132

The dealer is marking your MF up to the maximum. This is a nonstarter especially for a car that served as a loaner. Make sure your credit is good (over 675), and if they don't immediately give you the base MF and the correct residual just leave. No more work needs to be done with them as they aren't serious.

Also I agree you should be putting any money down except for MSDs.

Over all both deals are terrible just from the standpoint of the jacked up MF and incorrect residual.

Thank You for your help I really appreciate it.

I knew something was wrong with that deal based on what i kept seeing on the forum.

I will go back with this info and see what they offer me or what they can do.

[Stinkyxy]

I am buying a car to be delivered in 3 months and need help on the residual value.

I was told that since the residual value is not yet set 3m out that l negotiate the price today based on the current residual and when the car arrives/take delivery the new residual will be applied. But to compensate for a lower residual they will lower the price to make the payment the same.

Is this the right way to do it or is there some sleight of hand stuff going on here.

My apologies if this has already been addressed - couldn't find it.

Thanks.