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12-05-2022, 10:15 PM | #1 |
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Waiting for the 760i- lease deal
Featured on BIMMERPOST.com 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. |
12-06-2022, 09:00 AM | #3 |
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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)
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12-06-2022, 12:18 PM | #4 |
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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.
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12-06-2022, 12:52 PM | #5 |
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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 |
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12-06-2022, 12:53 PM | #6 | |
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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. |
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12-06-2022, 01:32 PM | #7 |
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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.
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Current: 23 760ix (Carbon Black/Tartufo) (after first one totaled) '23 X3; '23 MB E Wagon Prior: BMWs (3,5,7 & 8 series (2x!)) X3, MB (C, E, and S), Alfa GTV, MGB, Audi (A4, A6), Saab, Volvo, Toyota, Lincoln, Chrysler, Oldsmobile, Chevy, Rambler. |
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12-06-2022, 01:45 PM | #8 |
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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 |
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12-06-2022, 02:39 PM | #9 | |
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What is the current Money Factor? If it's lower, I'll try and renogiate. |
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12-06-2022, 03:17 PM | #11 | |
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Current: 23 760ix (Carbon Black/Tartufo) (after first one totaled) '23 X3; '23 MB E Wagon Prior: BMWs (3,5,7 & 8 series (2x!)) X3, MB (C, E, and S), Alfa GTV, MGB, Audi (A4, A6), Saab, Volvo, Toyota, Lincoln, Chrysler, Oldsmobile, Chevy, Rambler. |
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12-06-2022, 04:00 PM | #12 | |
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01-15-2023, 07:48 PM | #13 | |
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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.
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01-15-2023, 08:03 PM | #14 | |
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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? |
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01-15-2023, 08:10 PM | #15 | |
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01-15-2023, 08:18 PM | #16 | |
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01-15-2023, 11:24 PM | #17 | |
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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. |
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01-18-2023, 09:35 AM | #18 | |
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01-18-2023, 04:20 PM | #19 | |
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01-18-2023, 04:23 PM | #20 |
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I wondered the same. I’ve never seen Amarone in person but it looks great on videos.
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