Leasing Question(s)....
Thread Starter
Newbie
Joined: Dec 2003
Posts: 5
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Leasing Question(s)....
Hello all, I'm new to this board..........I'm usually on the BMW board.
Anyway, I am considering a '04 E320 lease. The MSRP on the car is $54,910. Here are the details: $4,250 down, Neg price $52,000, Money factor .0035 (seems high), 39/mo term, 15k mile allowance, $675/mo plus first months payment.
My questions are:
1) Does this deal seem right?
2) Is there anything I can do about the Acquisition and Disposition Fees or other fees?
3) How low will they go on the money factor?
Any and all help is apreciated.
THX!!
Anyway, I am considering a '04 E320 lease. The MSRP on the car is $54,910. Here are the details: $4,250 down, Neg price $52,000, Money factor .0035 (seems high), 39/mo term, 15k mile allowance, $675/mo plus first months payment.
My questions are:
1) Does this deal seem right?
2) Is there anything I can do about the Acquisition and Disposition Fees or other fees?
3) How low will they go on the money factor?
Any and all help is apreciated.
THX!!
MBWorld Fanatic!
Joined: Mar 2003
Posts: 2,434
Likes: 1
From: So Cal
2010 RRS ; BMW K1200R; 14 E350 ; 14 RRS on order
In Socal
Where are you located?
I put $5k down (all fees and 1st month) and now I am paying $530/mo including all taxes.
cdc, moonroof, real leather where my only options though,
I put $5k down (all fees and 1st month) and now I am paying $530/mo including all taxes.
cdc, moonroof, real leather where my only options though,
Thread Starter
Newbie
Joined: Dec 2003
Posts: 5
Likes: 0
I'm in Houston, TX
Options:
Brilliant Silver $670, Entertainment Pkg $950, Apperance Pkg $3880, Sunroof $1240
MSRP $54910
When did you do your deal and what was the money factor. Also, were you able to elimate some of the fees?
Thx!
Options:
Brilliant Silver $670, Entertainment Pkg $950, Apperance Pkg $3880, Sunroof $1240
MSRP $54910
When did you do your deal and what was the money factor. Also, were you able to elimate some of the fees?
Thx!
Almost a Member!
Joined: Nov 2003
Posts: 37
Likes: 0
Don't do it.
Don't do it. You're getting killed in 3 areas:
1) The money factor. If you're credit's great, it should be more like .0025. That alone will save you $80/mo.
2) Sale price. You're paying too much. Folks on this board including me paid below invoice. My deal was about $4500 off sticker (i'm in SoCal, other regions may not be as cheap). I had multiple dealers willing to go $1000 below invoice, which is about $4000 below sticker.
3) You're putting too much down. Don't make a cap cost reduction on a lease. It does you very little good and you will lose that cash if the car is totalled or stolen, even with gap insurance, since no insurance pays back what you paid, only the car's depreciated current value. Put the cash in the bank and use it to make your first several payments.
I don't know Acquisition Fees to be negotiable, I didn't try, but I'm not sure you can't.
Pay $51k for the car, .0025 mf, pay the Acq. Fee up front, and your payment should be $635 + tax. 39 mos., 15k mi. This assumes the residual is still 63% for December. I bought in November.
1) The money factor. If you're credit's great, it should be more like .0025. That alone will save you $80/mo.
2) Sale price. You're paying too much. Folks on this board including me paid below invoice. My deal was about $4500 off sticker (i'm in SoCal, other regions may not be as cheap). I had multiple dealers willing to go $1000 below invoice, which is about $4000 below sticker.
3) You're putting too much down. Don't make a cap cost reduction on a lease. It does you very little good and you will lose that cash if the car is totalled or stolen, even with gap insurance, since no insurance pays back what you paid, only the car's depreciated current value. Put the cash in the bank and use it to make your first several payments.
I don't know Acquisition Fees to be negotiable, I didn't try, but I'm not sure you can't.
Pay $51k for the car, .0025 mf, pay the Acq. Fee up front, and your payment should be $635 + tax. 39 mos., 15k mi. This assumes the residual is still 63% for December. I bought in November.
Almost a Member!
Joined: Nov 2003
Posts: 57
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From: NJ
2007 E350 Sport
YOU ARE GETTING SLAUGHTERED :-)
modulated's numbers are correct. I just signed a 39 mos lease on my E320. Mine was $52,900, and I negotiated a $3,900 discount. The money factor is .0025 through MB Credit (tier 1 credit score), and the residual of 63% (15K/year). These numbers are good through the end of the year, I believe.
Not sure what the tax rate is in TX, but your $54,910 car with similar discount should be arount $660/month including tax (assuming 6%) and 0 cap cost reduction (only inceptions out of pocket).
modulated's numbers are correct. I just signed a 39 mos lease on my E320. Mine was $52,900, and I negotiated a $3,900 discount. The money factor is .0025 through MB Credit (tier 1 credit score), and the residual of 63% (15K/year). These numbers are good through the end of the year, I believe.
Not sure what the tax rate is in TX, but your $54,910 car with similar discount should be arount $660/month including tax (assuming 6%) and 0 cap cost reduction (only inceptions out of pocket).
