1st time leasing a car help-- BMW 335i
06-14-11, 07:10 PM
#1
Lexus Champion
Thread Starter
1st time leasing a car help-- BMW 335i
Hello all
I am thinking about leasing a BMW 335i, the terms are below:
27-month lease well-equipped at $429*/month. $1,305 Option Credit available.Vehicle Registered outside N.Y.
• $429 First months payment
• $3,000 Down payment
• $0 Security Deposit
• $725 Acquisition fee
• $4,154 Cash due at signing
At lease end, lessee will be liable for disposition fee ($350.00)
22500 miles for the leasing period
Total Lease payments are $11,583.00
1. Could someone explain to me what the down payment of $3000 portion is? Since 27 month * $429= $11,583..... Will the $3000 be contributed into my total lease payment of $11583?
2. What is the acuquisition fee and disposition fee?
3. Like buying a car, could i ever negotiate the leasing payments?
4. FINALLY, is this a good deal??
What else should i know about leasing a car?
thanks for any suggestions or advice!!
I am thinking about leasing a BMW 335i, the terms are below:
27-month lease well-equipped at $429*/month. $1,305 Option Credit available.Vehicle Registered outside N.Y.
• $429 First months payment
• $3,000 Down payment
• $0 Security Deposit
• $725 Acquisition fee
• $4,154 Cash due at signing
At lease end, lessee will be liable for disposition fee ($350.00)
22500 miles for the leasing period
Total Lease payments are $11,583.00
1. Could someone explain to me what the down payment of $3000 portion is? Since 27 month * $429= $11,583..... Will the $3000 be contributed into my total lease payment of $11583?
2. What is the acuquisition fee and disposition fee?
3. Like buying a car, could i ever negotiate the leasing payments?
4. FINALLY, is this a good deal??
What else should i know about leasing a car?
thanks for any suggestions or advice!!
06-14-11, 09:05 PM
#3
BMW refuses to correct the fuel pump issue. 4 years and running. Even the recall doesn't correct the design.
That said..the disposition fee is what you pay if you choose not to purchase the car at the end of the lease. Keep in mind that lease deal, which looks similar to the one I saw on BMW's website a few days ago, is on a basic model.
That said..the disposition fee is what you pay if you choose not to purchase the car at the end of the lease. Keep in mind that lease deal, which looks similar to the one I saw on BMW's website a few days ago, is on a basic model.
Last edited by IceSC; 06-14-11 at 09:11 PM.
06-14-11, 09:10 PM
#4
Guest
Posts: n/a
Moved....leases should have as little down as possible.....nothing leases like a BMW or an Infiniti so no surprise with this deal...check out slickdeals.net, they have huge active lease threads where people are buying BMWs and Infiniti's for $3 and a peanut butter sandwich 
. In all seriousness tons of good deals there.
. In all seriousness tons of good deals there.
06-14-11, 10:29 PM
#5
terrible deal imho, or at least i don't think it's worth it. here's why
first, never down payment for lease. always make it zero. ask them to redo the math and give you a new payment. but basically 3000 for 27 months, that means 111 a month. so instead of 430, your actually payment can be thought of as 541 a month. that alone is high imho
acq fee, a lot of times it's there already, dunno if you can do anything about it. the deposition fee, is that a thing for ny state? i never recall seeing anything like that here in ca
22500 miles for 27 month, that's ONLY 833 miles a month. that's very few miles for the price you pay!!!!!!
1) no the 3k is not part of it
2) answered above already (sort of)
3) of course you can always negotiate. lease payment is calculated from cap cost, which means the price of the car. and that's always negotiable
4) i already answered this
put it this way. back in 2007 the 335 was still new and hot, my friend did a ED and leased a 335 and he was paying around 5xx a month, and that was on either 10k or 12k miles a month. considering how "old" the car is now, bmw is lowering prices a lot. you should be able to get far better deal. i know someone who is paying 8xx a month for a e93 m3 (msrp 80k), so i assume a e92 m3 will be around what, 6xx or 700? that's another comparison.
seems like you are new to lease, i strongly suggest you read and learn more about leasing first before jumping into it. do you know what's the money factor on the car? the residual? you should be very familiar with all the terms and how everything is calculated so you know how much you are paying on the car, how much interest, and how much tax.
first, never down payment for lease. always make it zero. ask them to redo the math and give you a new payment. but basically 3000 for 27 months, that means 111 a month. so instead of 430, your actually payment can be thought of as 541 a month. that alone is high imho
acq fee, a lot of times it's there already, dunno if you can do anything about it. the deposition fee, is that a thing for ny state? i never recall seeing anything like that here in ca
22500 miles for 27 month, that's ONLY 833 miles a month. that's very few miles for the price you pay!!!!!!
1) no the 3k is not part of it
2) answered above already (sort of)
3) of course you can always negotiate. lease payment is calculated from cap cost, which means the price of the car. and that's always negotiable
4) i already answered this
put it this way. back in 2007 the 335 was still new and hot, my friend did a ED and leased a 335 and he was paying around 5xx a month, and that was on either 10k or 12k miles a month. considering how "old" the car is now, bmw is lowering prices a lot. you should be able to get far better deal. i know someone who is paying 8xx a month for a e93 m3 (msrp 80k), so i assume a e92 m3 will be around what, 6xx or 700? that's another comparison.
seems like you are new to lease, i strongly suggest you read and learn more about leasing first before jumping into it. do you know what's the money factor on the car? the residual? you should be very familiar with all the terms and how everything is calculated so you know how much you are paying on the car, how much interest, and how much tax.
06-14-11, 10:43 PM
#6
Don't know in florida, but in NY, most places have that disposition fee. If you decide to buy the car, it is obviously waved. You can also negotiate it to be waved if you decide to get a new lease on another BMW at the end of the current one. It's basically a gimmick they use to try and get you tto either buy the car or keep ding business with them.
Same thing with the acquisition fee. It's just another BS fee they put in there to get money from you.
Always negotiate payments whenever you can. to do that, you first have to negotiate a purchase price of the car.
In NY you have to pay tax on the portion of the car you are paying for, not the full price.
Same thing with the acquisition fee. It's just another BS fee they put in there to get money from you.
Always negotiate payments whenever you can. to do that, you first have to negotiate a purchase price of the car.
In NY you have to pay tax on the portion of the car you are paying for, not the full price.
06-15-11, 09:42 AM
#7
Lexus Champion
Thread Starter
thanks for all the replies!
it sounds like everyone thinks this is a bad deal. what (price) and when (month) could a good deal be achieved then? is it all depends on how i negotiate?
it sounds like everyone thinks this is a bad deal. what (price) and when (month) could a good deal be achieved then? is it all depends on how i negotiate?
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06-15-11, 04:35 PM
#11
Pole Position
3 things you have to be really concerned by on leases:
- capitalized costs (how much is the sale price of the vehicle you are purchasing, and yes you should still agree on cost of the vehicle as is)
- residual value of the vehicle (how much will it be worth at end of lease, as you pay the delta for this. It also adds up to your purchase price at end of lease too).
- money factor (take the interest rate applied to your lease per month and divide it by how many months. you want to keep this as low as possible, otherwise you should buy it instead).
all the rest of things like down payment, terms, etc. should be contingent on the above 3 items.
- capitalized costs (how much is the sale price of the vehicle you are purchasing, and yes you should still agree on cost of the vehicle as is)
- residual value of the vehicle (how much will it be worth at end of lease, as you pay the delta for this. It also adds up to your purchase price at end of lease too).
- money factor (take the interest rate applied to your lease per month and divide it by how many months. you want to keep this as low as possible, otherwise you should buy it instead).
all the rest of things like down payment, terms, etc. should be contingent on the above 3 items.
06-15-11, 06:38 PM
#13
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The only thing I can think of is if you wreck it, but that is coming down to insurance anyway.
06-15-11, 10:46 PM
#15
Why no down payment? In the end, what your paying off towards the vehicle is the difference between the agreed sale value and residual value. What difference does it make how you pay it off?
The only thing I can think of is if you wreck it, but that is coming down to insurance anyway.
The only thing I can think of is if you wreck it, but that is coming down to insurance anyway.