Please Help with my Deal!

[Jklein812]

Hey Guys,

I am planning to order on Monday, but just want to confirm I am getting an aggressive deal. Please find the options and pricing below:

2011 M3 Convertible
Alpine White/Fox Red
Convenience Package
DCT
19" Wheels
Heated Seats
Ipod
PDC

MSRP- $77,175.00
Sale- $71,585.00

.0013 Money Factor
64% Residual


36 month Lease/12K per year

6K Total out of Pocket

Monthly Payment including 7% NJ Sales Tax is $656.98

[J BONE]

Originally Posted by Jklein812

Hey Guys,

I am planning to order on Monday, but just want to confirm I am getting an aggressive deal. Please find the options and pricing below:

2011 M3 Convertible
Alpine White/Fox Red
Convenience Package
DCT
19" Wheels
Heated Seats
Ipod
PDC

MSRP- $77,175.00
Sale- $71,585.00

.0013 Money Factor
64% Residual


36 month Lease/12K per year

6K Total out of Pocket

Monthly Payment including 7% NJ Sales Tax is $656.98

Curious why you are putting down 6K? With a lease, correct me if I am wrong, it is better to put nothing down because of the gap insurance. If you drive out of the lot and the car gets totaled, you could be out that $6K. I am not saying you are wrong, but that is what I was told. Even my CA told me today it was a bad idea. Just my .02

[Jklein812]

You are correct. I am been doing this with all of my leases over the past 5 cars and I guess I have always been fortunate. I keep a consistent budget for my company and the payment falls perfectly within my comfort zone.

[cpars006]

how did u get the money factor so low?!

[J BONE]

I understand what you are saying. Nice to have such a low monthly payment

Money factor is really nice. The dealer tried pulling a fast one on me yesterday with increasing the money factor to .00250. Pays to know what is going on, thanks to everyone on E90!!

[donovan]

Phew^ you think thats a low payment, well, the ...damn 71k lol. I cant even talk anymore..

[Jklein812]

Ordering the car today. Quick question though. If I order the car without EDC does that mean the M Button is basically useless?

[comebackid]

You can negotiate money factors? I thought those were set in stone when BMW releases the numbers each month. The only way that I know you can change it is through multiple security deposits...

[Splooge911]

I just ordered and picked up the identical car (same color combo and MSRP)

My deal came out to $3,200 total due at signing (including 1st payment and fees)

$722 per month
10k miles
36 month
8.375% tax

[Jklein812]

What interior trim did you choose with the Rox Red interior?

[Splooge911]

Originally Posted by Jklein812

What interior trim did you choose with the Rox Red interior?

I went with the Titanium Shawdow and I love it. It was between that or the carbon fiber and im glad i went with the TS. Its very smooth and clean looking and goes well with the rest of the interior

[Jklein812]

Thanks. I believe I will be going with the Titanium Shadow, as well. Almost chose the aluminum but I have that trim in my 330/335/328's so I wanted to switch it up a bit. Just waiting for the call back to place the order. Cant wait to do the Performance Center Delivery!!!

[cpars006]

im still really confused, what did you tell the dealer to get your money factor so low?!

[ksoze]

The money factor from BMWFS for November is .0013 for that term lease. His dealer did not mark it up.

[white9duece]

All you really need to do is put about 2,500 out of pocket for your down and should included drive-off. Every 1,000 after that is about 20-35 dollars. Just put each 1,000 after the 2,500 and divide it by the term and that's how much more you'll save. I am a broker out in LA. If you have any other questions feel free to pm me!

[white9duece]

BMW doesn't determine the money factor. It is the bank you are using to either lease or finance through.

[ksoze]

BMWFS does indeed determine a money factor on their leases. It is updated monthly and available here and at other sites.

Whether an individual dealer will mark that rate up is up to them. Certainly other banks and lending institutions can offer their own interest rate and residual values, but many times the manufacturer is buying down the interest or raising residuals to move certain models, etc.

[GOLFFRR]

^^^ the lender dictates the rate and residual for leases and purchases

[mpapad]

I just leased this car as well, but did euro delivery (ED). I put down 7 security deposits (MSDs, lower my payment by 50 bucks or so and if I wreck it no issue), and ended up with a loaded m3 for 683 a month with tax (12k). I also got holiday credit, so I only owe $49 + my MSDs ($4900) at signing. So the payment is 683, but I only make 34 payments (1st is in due at signing covered by holiday bonus, second is covered by BMWFS as part of ED lease). The holiday bonus also took care of acquisition fee, bank fee, and doc fee save 50 bucks. Pretty Sweet.

[Jklein812]

So if I decided to go the route of multiple security deposits how would my deal change. Is there a way by using the numbers above that you could figure out how the payment would be structured. IE total money out of pocket/Payment/monies that would be due back to me following lease term etc... Thanks in advance!

[Jklein812]

mpapad-what was your msrp?

[white9duece]

No point in arguing, but the banks choose the rates. Weather BMFS(which is a bank) or any other financial institution that you choose to go with.

Originally Posted by ksoze

BMWFS does indeed determine a money factor on their leases. It is updated monthly and available here and at other sites.

Whether an individual dealer will mark that rate up is up to them. Certainly other banks and lending institutions can offer their own interest rate and residual values, but many times the manufacturer is buying down the interest or raising residuals to move certain models, etc.