03-05-2014, 05:27 PM | #1 |
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Request for a Target Monthly Payment for M235i Lease
Hi guys,
I am considering of leasing a M235i at the end of Mar and have a question on the monthly payment that I should target at, when negotiating with dealer. I got fooled by a local dealer in NJ and this time I would prefer to obtain as much as information before dropping at another dealership. Information provided from my end: Sales Price: $49,500 Local Tax: 7% Lease Term: 36 months Lease Residual: 63% (10K miles annual) MF: 0.0013 Acquisition Fee: $725 Documentation and Registration Fee: $500 MSD: 7 times (not sure how much is the total of 7 times deposite) Discount: $2,500 (Should be able to get more than it since I am qualified for college discount) Output I need from you guys 1. A 'non-fooled by dealer' Monthly Payment (Assume I am going to pay all fees, tax and 1st month payment at the time of picking up my car) 2. Any suggestion on how to lower monthly payment for another $50? For example, will any fee or factor be possible to drop during negotiation? Thank you guys so much for any reply Last edited by Grychen; 03-05-2014 at 06:13 PM.. |
03-05-2014, 06:01 PM | #2 |
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There's an iPhone app called Leasematic that is extremely handy in calculating what your payment should be.
I am in no way affiliated with the above app developer just found it useful
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03-05-2014, 06:10 PM | #3 | |
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Sorry this is the first time I am going to lease a car so have lots of question. Thanks, |
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03-05-2014, 06:14 PM | #4 |
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You can pay the tax up front or roll it in the lease. I'll try to get a screenshot uploaded from the app after plugging in your numbers.
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03-05-2014, 06:16 PM | #5 |
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See attached. EDIT: Deleted attachment, see correct one below.
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Euro Delivery Trip Report Last edited by webdither; 03-06-2014 at 01:11 PM.. |
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03-05-2014, 08:54 PM | #6 |
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cool app...but $2, not so cool
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03-05-2014, 10:17 PM | #7 |
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When buying a $50k+ car $2 to help give you some assurance you aren't being raped is a small price IMO
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03-05-2014, 10:22 PM | #8 |
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your getting $2500 off MSRP? with a car that will be in hot demand? that the dealer has limited ordering capability...and your looking to get more...hey why not its free enterprise in action...a smart dealer will stick as close to MSRP as possible..why should they lower it at this point...when I see a copy of an actual order then I could believe its 2500 off..MSRP....
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03-06-2014, 08:07 AM | #9 | |
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Im just saying these calculators can be had for free
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03-06-2014, 12:02 PM | #10 |
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03-06-2014, 12:09 PM | #11 |
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MSDs and first month payment. I rolled the fees into the lease on that setup.
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03-06-2014, 12:28 PM | #13 | |
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To the OP - get the best negotiated price you can and the monthly payment will take of itself. Just watch for places where they can bend you over - ie, $500 for a doc fee is nuts. I would tell them to eff off based on that. Also, I might be wrong, but I thought multiple MSDs would lower your money factor. .0013 is what everyone who qualifies for BMW credit gets... EDIT - you didn't say you were trading anything in. If that's the case, give David Avlies a chance to earn your business. Best deals around on the M235. And very little bullshit.
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03-06-2014, 01:08 PM | #14 |
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The MSDs lower the money factor. I had to do some googling but it looks like each one lowers the Effective Money Factor by 0.00007 (is this still a current number? Does it vary by dealer/month/bmw whim?)
So if you put down 5 MSDs... 5 * 0.00007 $3000 total Effective MF: 0.00095 My previous posts had it in as 0.00001 so the new payment using the number above is: $555.15.
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03-06-2014, 06:02 PM | #15 | |
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Yeah, i read from BMWConfig and it seems to be every additional number of MSD will decrease our MF by 0.00007. However, I am not sure if I should put MF = 0.0013 or MF = 0.0013 - 0.00007*number of MSD in the Money Factor slot by using a lease configurator in mobile phone. Also thanks for the heads up that I should bargain on Doc fee, which I will surely do. Is there anything else I should negotiate with them? |
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03-06-2014, 06:03 PM | #16 | |
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03-06-2014, 09:20 PM | #17 | ||
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03-07-2014, 10:31 AM | #18 | |
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You can also go to a regular bank and sometimes get a better deal - I had a buddy use his local credit union who allowed 18K miles a year for the same basic payment that BMWFS was offering for 15K. Besides the MF, Doc fee, and of course negiotiated price, there isn't a whole lot more that you can barter with them. What I always do is request a line item review of every single cent I am being charged for - that way you can ensure there's no additional bullshit being added in that gains you nothing and makes them more money. Remember, they aren't doing you a favor by coming down from MSRP - that is 2 levels above what they buy the car for...if they balk at that, tell them you want to see the VIR (vehicle information request) document for your specific car. It shows the breakdown of MSRP vs. what they call VIR (or invoice)...which is not even the true invoice, but is typically 7% less than MSRP. Makes a big difference...
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03-08-2014, 07:59 PM | #19 |
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Hey guys,
I have a few questions regarding a trade-in, leasing, and the BMW special offer. Got a total price from a dealer for exactly what I want in a m235i for $49,315, which is $750 off MSRP. M235i Alpine White Technology Package H/K package Total: $46,125 along with the following M Performance Parts: Black kidney grille grid Carbon fiber mirror caps Carbon fiber & alcantara trim Carbon fiber brake handle Body color m rocker panel blades with black trim & decal Carbon fiber center console cover Total: $3,015 Net: $49,140 Destination: $925 Total: $50,065 I know this is just the sale price of the vehicle and doesn't include my leasing terms. I would like to know what I want out of the terms before I even begin discussing it with the dealer. I'm in Louisiana. The dealer is in Texas. In this case, I would pay the taxes based on my local 9.5% tax rate? I have seen conflicting reports about Louisiana in that some say the sales tax is all up front like Texas and some say it's spread out monthly as you pay your lease. Does anyone know where I can find out for sure? I really have researched this and can't find anything official. If I'm not mistaken, these are the terms I should require: Lease Term: 36 months Lease Residual: 62% (12K miles annual) MF: 0.0013 Are these correct? If so, with the local 9.5% sales tax rate, what type of payment would I be looking at? I put the numbers into a few calculators with the $3k down they mention in the bmw special offers and I'm getting approx $560-ish range. My thing is... no matter what I do, I can't put the numbers in any lease calculator to reach the $46k sales price, $3k down, $479/mo offer. How did they reach that and how do I get that deal at my price to adjust my payment accordingly? Or am I just lost? |
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03-08-2014, 08:55 PM | #20 | |
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