Waiting for the 760i- lease deal

[todao]

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New to this board. I'm finishing my 3 year lease on a 2019 M850. Ready to turn in that car and go with something ultra quiet. The 850 is fantastic but you hear every bump and imperfection on the road. Plus it's been a pain when i have two passengers (have the coup).

I ordered in October a 760i with Black Sapphire Metallic and Amarone interior and options of:
- Driving Assistance Professional Package
- Executive Package
- M Sport Professional Package
- Parking Assistance Package
- Climate Comfort Laminated Glass

It completed production on 11/10 so anxiously waiting for it to ship and delivery!

I did a 36 month lease deal for 10K/year. Down payment of $10K and monthly of $2,050. This includes tax, which is a whopping 9.5% in LA.

I'll let you know once it comes in with pics. In the meantime, I'm watching every YouTube video I can get my hands on.

[Lovin7er]

Congrats!

[zmm12345]

The interest rate that bmw is charging for leases came down in december. you may want to renegotiate your pricing with your dealer (depending when you locked in)

[M3ditate]

Originally Posted by zmm12345

The interest rate that bmw is charging for leases came down in december. you may want to renegotiate your pricing with your dealer (depending when you locked in)

When you order a car you rate lock at current rate, if it's better when your car arrives you get the new rate. If it's worse, you get the previously agreed upon rate.

[zmm12345]

you can check on this link what the current interest rate and residuals are. based on those numbers you can calculate what the price should be off msrp or whatever purchase price you are using
https://forums.edmunds.com/discussio...als-and-prices

[zmm12345]

Originally Posted by M3ditate

When you order a car you rate lock at current rate, if it's better when your car arrives you get the new rate. If it's worse, you get the previously agreed upon rate.

I believe this is true, assuming that you get your car within 90 days from the end of the month in which you locked. If it takes longer then that, then your lock will expire.

I think that you could potentially relock now, since the apr is lower and residual has stayed the same. this would also reset your 90 day lock.

[AlteBMW]

Originally Posted by greg_t

Is anyone else getting deals around this price for a lease? Wondering if anyone is negotiating better deals..

I think that deal is based on older BMWFS terms. I don't know what December terms were but I know that November purchase rate was 4.59%. That works out to a money factor of under .002 (.019125) for a lease. Residuals were (I think) 52% for 10,000/yr. OP's rate -- based on the payment -- seems higher than that. OP is your upfront payment sales taxes or a capital cost reduction? You really do not want to put up anything up front other than mandatory taxes and fees. (In NY, we have to pay sales tax up front on the total amount of payments under the lease; not sure what the Cal system is). Also I assume you are top tier credit rating; if not, all bets are off.

[zmm12345]

Money factor is .00180
residuals for the 760 are
52% for 12k
54% for 7.5k
is 10k 53% or also 52%?

fyi, in NY i have always rolled the tax into the lease. i never put down more then the first month

[todao]

Originally Posted by AlteBMW

I think that deal is based on older BMWFS terms. I don't know what December terms were but I know that November purchase rate was 4.59%. That works out to a money factor of under .002 (.019125) for a lease. Residuals were (I think) 52% for 10,000/yr. OP's rate -- based on the payment -- seems higher than that. OP is your upfront payment sales taxes or a capital cost reduction? You really do not want to put up anything up front other than mandatory taxes and fees. (In NY, we have to pay sales tax up front on the total amount of payments under the lease; not sure what the Cal system is). Also I assume you are top tier credit rating; if not, all bets are off.

The up front is a capital cost reduction and I agree that ordinarily I put up front as little as possible however this is a corporate lease. And yes already been cleared for credit. Residuals are 52% and MF at the time was .0024.

What is the current Money Factor? If it's lower, I'll try and renogiate.

[zmm12345]

Money factor is .00180
significantly less

[AlteBMW]

Originally Posted by todao

The up front is a capital cost reduction and I agree that ordinarily I put up front as little as possible however this is a corporate lease. And yes already been cleared for credit. Residuals are 52% and MF at the time was .0024.

What is the current Money Factor? If it's lower, I'll try and renogiate.

I believe the current money factor is lower than .0024. If your dealer is customer oriented, they will give you the lower of the rate at the time you sign and the rate at the time of delivery. That is what happened to me; I signed up in July or August when the MF was .0024 and the interest rate for purchase was 5.29%. They gave me the current top tier BMWFS rate at the end of November when I took delivery. I don't know what the MF is because I had decided I wanted to purchase this one.

[Lovin7er]

Originally Posted by AlteBMW

I believe the current money factor is lower than .0024. If your dealer is customer oriented, they will give you the lower of the rate at the time you sign and the rate at the time of delivery. That is what happened to me; I signed up in July or August when the MF was .0024 and the interest rate for purchase was 5.29%. They gave me the current top tier BMWFS rate at the end of November when I took delivery. I don't know what the MF is because I had decided I wanted to purchase this one.

I got my lease on the 30th, and the buy rate MF was .0021.

[Mr.blue]

Originally Posted by todao

New to this board. I'm finishing my 3 year lease on a 2019 M850. Ready to turn in that car and go with something ultra quiet. The 850 is fantastic but you hear every bump and imperfection on the road. Plus it's been a pain when i have two passengers (have the coup).

I ordered in October a 760i with Black Sapphire Metallic and Amarone interior and options of:
- Driving Assistance Professional Package
- Executive Package
- M Sport Professional Package
- Parking Assistance Package
- Climate Comfort Laminated Glass

It completed production on 11/10 so anxiously waiting for it to ship and delivery!

I did a 36 month lease deal for 10K/year. Down payment of $10K and monthly of $2,050. This includes tax, which is a whopping 9.5% in LA.

I'll let you know once it comes in with pics. In the meantime, I'm watching every YouTube video I can get my hands on.

Hello all,
I am pretty new to the leasing side of things, I’ve always financed my purchases with BMW financial so I don’t really know what the money factor and all that means. I wonder if I could get a couple of opinions on a lease quote. I usually trade in cars around the 3 year mark when something new comes out that I like and I’ve been told that I’m wasting money that way which I agree with , so I decided that I wanted to lease the 760 instead of buying this time. So I had my X5M competition appraised just last month and just yesterday I was offered $7000 less for the same vehicle with maybe 150 miles more from the last time from the same dealer. Then they said well we’ll do you a favor and just payoff your vehicle if you sell it to us today. I didn’t bite. So i just asked for a lease quote. The SA showed me a vehicle that is due to arrive in maybe 45 days with a MSRP of $133.000. He quoted me a 36 month lease 12000 miles with 10k down for 2391 and 5k down for 2547 per month. So I said well if I’m going to pay that much I’ll just build the one I want. It only came to $124,595 which quickly came to 127.000 with their fees. The lease was quoted at 2269 with 5k and 2113 with 10k down. I informed him that I have tier 1 credit beforehand. Are these rates correct with a total sales tax rate of 9.50 for state and county? If this is the case, financing would most likely be cheaper. (Just a side note ) I usually steer clear of this dealership but they usually have more inventory to choose from. Any thoughts would be appreciated.

[KevinDC]

Originally Posted by Mr.blue

Hello all,
I am pretty new to the leasing side of things, I’ve always financed my purchases with BMW financial so I don’t really know what the money factor and all that means. I wonder if I could get a couple of opinions on a lease quote. I usually trade in cars around the 3 year mark when something new comes out that I like and I’ve been told that I’m wasting money that way which I agree with , so I decided that I wanted to lease the 760 instead of buying this time. So I had my X5M competition appraised just last month and just yesterday I was offered $7000 less for the same vehicle with maybe 150 miles more from the last time from the same dealer. Then they said well we’ll do you a favor and just payoff your vehicle if you sell it to us today. I didn’t bite. So i just asked for a lease quote. The SA showed me a vehicle that is due to arrive in maybe 45 days with a MSRP of $133.000. He quoted me a 36 month lease 12000 miles with 10k down for 2391 and 5k down for 2547 per month. So I said well if I’m going to pay that much I’ll just build the one I want. It only came to $124,595 which quickly came to 127.000 with their fees. The lease was quoted at 2269 with 5k and 2113 with 10k down. I informed him that I have tier 1 credit beforehand. Are these rates correct with a total sales tax rate of 9.50 for state and county? If this is the case, financing would most likely be cheaper. (Just a side note ) I usually steer clear of this dealership but they usually have more inventory to choose from. Any thoughts would be appreciated.

In order to understand whether or not you’re getting a good deal, it’s important to know the money factor and residual value of the car after the lease terminates. The money factor is a method of determining the interest rate of your lease. If you take the money factor and multiply by 2,400, that results in an interest rate equivalent for the lease. The residual value is the remaining value of the car at the end of its lease.

I’ve seen recent money factors of .00235, which is appr. (.00235 * 2,400) 5.64% APR. Recent residual value of 52% for a 36 month, 12,000 miles per year lease.

How do your terms compare?

[Mr.blue]

Originally Posted by KevinDC

In order to understand whether or not you’re getting a good deal, it’s important to know the money factor and residual value of the car after the lease terminates. The money factor is a method of determining the interest rate of your lease. If you take the money factor and multiply by 2,400, that results in an interest rate equivalent for the lease. The residual value is the remaining value of the car at the end of its lease.

I’ve seen recent money factors of .00235, which is appr. (.00235 * 2,400) 5.64% APR. Recent residual value of 52% for a 36 month, 12,000 miles per year lease.

How do your terms compare?

Thanks this makes a little more sense. I wasn’t given any of this information upfront so I don’t have anything to compare with your rates.

[mattsrs]

Originally Posted by KevinDC

In order to understand whether or not you’re getting a good deal, it’s important to know the money factor and residual value of the car after the lease terminates. The money factor is a method of determining the interest rate of your lease. If you take the money factor and multiply by 2,400, that results in an interest rate equivalent for the lease. The residual value is the remaining value of the car at the end of its lease.

I’ve seen recent money factors of .00235, which is appr. (.00235 * 2,400) 5.64% APR. Recent residual value of 52% for a 36 month, 12,000 miles per year lease.

How do your terms compare?

BMW MF for this month is 0.00185. Dealers mark it up to 0.00225 ans higher. It is a rip off but you can negotiate. When I called out my dealer on this markup, they said they’d give me more discount on the price of the car

[todao]

Originally Posted by Mr.blue

Hello all,
I am pretty new to the leasing side of things, I’ve always financed my purchases with BMW financial so I don’t really know what the money factor and all that means. I wonder if I could get a couple of opinions on a lease quote. I usually trade in cars around the 3 year mark when something new comes out that I like and I’ve been told that I’m wasting money that way which I agree with , so I decided that I wanted to lease the 760 instead of buying this time. So I had my X5M competition appraised just last month and just yesterday I was offered $7000 less for the same vehicle with maybe 150 miles more from the last time from the same dealer. Then they said well we’ll do you a favor and just payoff your vehicle if you sell it to us today. I didn’t bite. So i just asked for a lease quote. The SA showed me a vehicle that is due to arrive in maybe 45 days with a MSRP of $133.000. He quoted me a 36 month lease 12000 miles with 10k down for 2391 and 5k down for 2547 per month. So I said well if I’m going to pay that much I’ll just build the one I want. It only came to $124,595 which quickly came to 127.000 with their fees. The lease was quoted at 2269 with 5k and 2113 with 10k down. I informed him that I have tier 1 credit beforehand. Are these rates correct with a total sales tax rate of 9.50 for state and county? If this is the case, financing would most likely be cheaper. (Just a side note ) I usually steer clear of this dealership but they usually have more inventory to choose from. Any thoughts would be appreciated.

Just for comparison purposes, the MSRP on my car was $134,350. I have the same sales tax rate of 9.5%.

I have a lease deal of $2138 per month with $10 K down and 10,000 miles a year. The money factor at that time is .0022.

Based on that, I think you could negotiate a better deal given that your MSRP is less than mine.

Question… does the $2113 monthly lease includes sales tax? If not then it’s a terrible deal. If it does include sales tax it’s not bad but I think you can negotiate for a bit better.

[mattsrs]

Originally Posted by todao

Just for comparison purposes, the MSRP on my car was $134,350. I have the same sales tax rate of 9.5%.

I have a lease deal of $2138 per month with $10 K down and 10,000 miles a year. The money factor at that time is .0022.

Based on that, I think you could negotiate a better deal given that your MSRP is less than mine.

Question… does the $2113 monthly lease includes sales tax? If not then it’s a terrible deal. If it does include sales tax it’s not bad but I think you can negotiate for a bit better.

How do you like the Amarone interior? I am torn between Amarone or Tartufo. Worried may get tired of Amarone after a while. Mind sharing some photos of that interior?

[Mr.blue]

Originally Posted by todao

Just for comparison purposes, the MSRP on my car was $134,350. I have the same sales tax rate of 9.5%.

I have a lease deal of $2138 per month with $10 K down and 10,000 miles a year. The money factor at that time is .0022.

Based on that, I think you could negotiate a better deal given that your MSRP is less than mine.

Question… does the $2113 monthly lease includes sales tax? If not then it’s a terrible deal. If it does include sales tax it’s not bad but I think you can negotiate for a bit better.

Now your deal makes a whole lot more sense! I was quoted over $2300 for a car that had a $125.000 msrp. That was with money down and trade. Oh and yes, I believe that was with taxes included.

[Mr.blue]

Originally Posted by mattsrs

How do you like the Amarone interior? I am torn between Amarone or Tartufo. Worried may get tired of Amarone after a while. Mind sharing some photos of that interior?

I wondered the same. I’ve never seen Amarone in person but it looks great on videos.

[patrikr]

Originally Posted by Mr.blue

I wondered the same. I’ve never seen Amarone in person but it looks great on videos.

I hope to go look at one coming into my local dealer with Amarone.