HELP!! I need everyone's opinion on Lease Quote for 2011 BMW X6 3.5

[ARam]

HELP!! Opinion on Lease Quote for 2011 BMW X6 3.5

I need everyone's opinion on the lease quote below. I only have 1 remaining monthly payment on the 5 series and I'm looking to replace it with a 2011 X6 35xi







I have been doing a lot shopping over the phone for quotes and this is the best numbers i have received so far. I just need to know if i should pull the trigger on this lease program.

I think the lease it's okay but what's your take on it.

I found out that on BMWUSA.com there's a special going for an X6 35i for $619.00 for a vehicle with a MSRP 0f $59,175.00 (need to put down $7500 to $8000 down for this special). My car configuration MSRP is $65,025 which is almost $5850.00 more and I'm putting the same money down to drive off.

I figure that for every $1000 in options that i have in the car, the dealer is charging me $24 - $30 to come up the monthly payment of $741.

Vehicle Cost:
MSRP=65025
MSRP as configure = $60,320
Sale Price=61,320 (1000 above invoice)

Lease Terms:
36 months
Residual=$40315.50 (62%)
Money Factor=.0024 (Interest APR 5.76)

Cap Reduction
Cash Cap Reduction=5000

Leasing Fees and taxes:
Sales Tax Due at Driveoff: $0.00
Security Deposit=500
Bank Fee=$575
License Fee=$50
Title Fee=$250
Doc Fee=$199
Dealer Fees=0

Payment=$741.40
Cash Due=$7,711.65

[Rac10000]

It doesn't look too bad to me. Why are you putting $5K down? I would wait until May to see if the money factor will drop. ... .00240 is pretty high ... it should be down to .00175 or something like that once BMW gets moving with the 2011's ...

[ARam]

I figured that the MF was a bit to high specially since im a loyal returning customer. But the dealer are bringing up excuses that BMW no longer lower MF anymore.

I know this BS but they are firm on the MF.

I once heard that the MF for returning loyal customer should be around .0017 something.

[Rac10000]

Originally Posted by ramirezalex

I figured that the MF was a bit to high specially since im a loyal returning customer. But the dealer are bringing up excuses that BMW no longer lower MF anymore.

I know this BS but they are firm on the MF.

I once heard that the MF for returning loyal customer should be around .0017 something.

The money factor is so high because there is not a lease program for the 2011's yet. The money factor is that high across the whole BMW model range. I would still wait to see what the May rates are ... it's only a few more days.

[geneatals]

IMO: that's a lot of $ down for a lease...have you tried other dealerships? What dealership are you working with?

why not try and work a deal for a 2010 model?

also, have you asked about MSD's to help lower the MF a bit. I wuld see if you can put money down towards MSD's rather than just straight down. I'm in the same boat as you with my 535i but my lease is up in december. Hopefully by then the MF's will better...good luck

[ARam]

Geneatals - there are no 2010 available and if there are any in the NYC area they are not configured and equipped with the options above. As for multiple security deposit that will be my next counter attack move on the dealer.

[aas5]

Originally Posted by ramirezalex

Geneatals - there are no 2010 available and if there are any in the NYC area they are not configured and equipped with the options above. As for multiple security deposit that will be my next counter attack move on the dealer.

Have you tried dealers in NJ - I have been talking to Paul Miller and Morristown and they are starting to get 2011s and you can see if they can offer you a good deal. I would not put $7K down on a lease.

[jeffnnj]

I advise my clients not to put down any cap cost reduction. In case there is a total loss on the vehicle, the money goes away. I also agree that the money factor will most likely change for the better next month. It certainly won't get worse. Expect to pay less; how much so I am not sure yet as they never tell us published rates in advance.

[geneatals]

Originally Posted by ramirezalex

Geneatals - there are no 2010 available and if there are any in the NYC area they are not configured and equipped with the options above. As for multiple security deposit that will be my next counter attack move on the dealer.

sounds good...

+1 for trying dealers in NJ as well...it might be worth the short drive..

definitely shop the price around a bit...I honestly think you can do and should be able to do better than what you are currently being offered...

[NYCGarbagePrince]

Ramirez I got a sweetheart deal for mine from the manhattan BMW down on wall st. I would look up Phil Salazar. If you want his info I can PM it to you. I always tell people the same thing, if you need to put money down on a lease than you are reaching for a car you can't afford. Any accountant would tell you putting money down on a lease is a terrible idea. With 0 down on a 35i I believe i was looking at $810 per month perhaps a bit more... You may need to do a bit more searching.

I was in my 50i with 0 down at $1,025.00 and checked rallye on long Island and they wanted over $1,400.00 per month. So it is definitely in your best interests to search around.

[NYCGarbagePrince]

Ramirez... I am extremely disappointed with this forum if this is the type of people that frequent it. Here is a copy of the email I just received from my salesman:



Do you know who this guy is? Alex Ramirez. The guy was just here and threw your name out. Trying to buy an X6 below invoice. He even went so far as to offer me money under the table to make it happen. My job is a lot more important than compromising my integrity and no amount of money "under the table" is worth sacrificing both my integrity and job. He said he knows you from a BMW Internet board. Can you tell me which Internet site this is? I appreciate your help with this.

Thanks,

Phil

[geneatals]

Originally Posted by NYCGarbagePrince

Ramirez... I am extremely disappointed with this forum if this is the type of people that frequent it. Here is a copy of the email I just received from my salesman:



Do you know who this guy is? Alex Ramirez. The guy was just here and threw your name out. Trying to buy an X6 below invoice. He even went so far as to offer me money under the table to make it happen. My job is a lot more important than compromising my integrity and no amount of money "under the table" is worth sacrificing both my integrity and job. He said he knows you from a BMW Internet board. Can you tell me which Internet site this is? I appreciate your help with this.

Thanks,

Phil

wow, that's not cool....sorry to read about this Phil...

[scottjays]

Originally Posted by NYCGarbagePrince

Ramirez... I am extremely disappointed with this forum if this is the type of people that frequent it. Here is a copy of the email I just received from my salesman:



Do you know who this guy is? Alex Ramirez. The guy was just here and threw your name out. Trying to buy an X6 below invoice. He even went so far as to offer me money under the table to make it happen. My job is a lot more important than compromising my integrity and no amount of money "under the table" is worth sacrificing both my integrity and job. He said he knows you from a BMW Internet board. Can you tell me which Internet site this is? I appreciate your help with this.

Thanks,

Phil

uncool dude

[ARam]

Originally Posted by NYCGarbagePrince

Ramirez... I am extremely disappointed with this forum if this is the type of people that frequent it. Here is a copy of the email I just received from my salesman:



Do you know who this guy is? Alex Ramirez. The guy was just here and threw your name out. Trying to buy an X6 below invoice. He even went so far as to offer me money under the table to make it happen. My job is a lot more important than compromising my integrity and no amount of money "under the table" is worth sacrificing both my integrity and job. He said he knows you from a BMW Internet board. Can you tell me which Internet site this is? I appreciate your help with this.

Thanks,

Phil

NYCGarbagePrince - Your sales agent is an arrogant prick. I think he was on CRACK or something when he offered me the same car for $988 with no money down.
I guess he tough i was a banker from wall-street or something. He was selling me the vehicle $2500.00 over invoice and was playing with the #'s.
Then he goes on to say that the X6 is too much car for me and i should consider a 3 series instead.

I guess this is how the dealer pays the rent in BMWNYC near Wall-Street.

I just don't know how you got a good deal from this guy. Anyway, this became an argument and i just left the dealer. And in no way i offered him any money.

I would suggest everyone to stay away from this dealer.

[RQP]

the number in here seem much better than the offer that I got. My car is in order but I have not finish finance paper work yet. So do you guys think it is possible that I can still bargain for a better deal when I come in to do finance paper work? so

[Kassfy]

Originally Posted by RQP

the number in here seem much better than the offer that I got. My car is in order but I have not finish finance paper work yet. So do you guys think it is possible that I can still bargain for a better deal when I come in to do finance paper work? so

my price is just under $60k...im putting 20k down with 4.9 interest its $860. I did all i could to get it down more..they wouldnt


Description MSRP
Base Price $56,500.00
0ZPP Premium Package 1,800.00
0ZTP Technology Package 2,500.00
0328 Running Boards 300.00
04AD Brushed Aluminum Trim 0.00

Destination and Handling 875.00
TOTAL AS EQUIPPED $61,975.00
SELLING PRICE $59,625.00

Finance Information
Lender BMW Financial Services
Term 60 Months
Rate 4.9%

Selling Price $59,625.00
Documentation Fee $55.00
Sales Tax ( 8.75%) $5,222.00
License & Registration $798.75
Cash Down $19,999.86
Trade Equity $0.00

Total Down $19,999.86

Amount Financed $45,700.89
Finance Charge $5,919.51

Total Cost $71,620.26

Monthly Payment $860.34

[jeffnnj]

We all pay the same thing for the vehicles which means, at least theoretically, that we should all be able to offer the same deal. What people should be doing is trying to find someone they like and a dealership they are comfortable with. I like to think that my customers buy from me and refer their friends not only because I gave them the best deal but because I was their best choice, if that makes sense.

[cqckdiezel]

i would wait for new programs coming this month. actually any day now, if you want a deal that will blow yours out the box contact me i will hook you up with a leasing company you wont put any money down on the car and the payments will be about the same. i got quoted for 2010 model 70k msrp $900 a month 0 down. so if your interested msg me the leasing company is in brooklyn NY if your interested messge me

[2045]

if the 2010 is what u're going after then this month (or later) would theoretically be a much better timing to get since the 2011s are starting to arrive. downside is chance finding the one exactly with the options u want is nearly impossible.