[alenda2675]

Hey there everyone! I have been lurking on this forum for a long time now and I have found all of your posts very helpful and insightful! With that being said, would anyone mind giving my deal a look through and let me know if its fair? It seems it to me but would appreciate someone else to review:

MSRP: $56,050
Selling Price: $53,125 ($1000 over invoice)
Multiple Security Deposits: $4900 (700x7)
Residual: 62%
Money Factor: .00121
License Fees: $559
Bank Fee: $925

10,000 mile lease including CA tax is $667

[fecurtis]

$1,000 over invoice seems a bit on the high side. And what's the "bank fee"?

[alenda2675]

I guess I don't know what the bank fee is but I thought I've seen other pay some sort of fee for finance and leasing. I'll have to research that a bit more then.

[fecurtis]

Originally Posted by alenda2675

I guess I don't know what the bank fee is but I thought I've seen other pay some sort of fee for finance and leasing. I'll have to research that a bit more then.

Although I ordered an F30, here's the details of the fees I had to pay:

MSRP of vehicle: $58,500
Discount: -5,131
Subtotal: $53,369

4% VA Sales Tax: $2,142.72
VA Registration and Title Fee: $55.75
Maryland Tire Recycling Fee: $4 (was told that the state of MD taxes each tire of every new car sold $1 to pay for tire recycling plants)
DMV Admin Fees, Tags, Transfer Title Lien: $12.00
Dealer Processing: $199.00

Total $55,782

Sounds like the "bank fee" is something similar to a "bank processing fee". If that's the case, I only paid $200 on that. The SA told me that many dealerships mark those up to several hundred dollars.

I'm also leasing the vehicle btw. Either way, $250-$500 above invoice and have them take that bank fee out or at least lower it would be more reasonable. You may even be able to get it AT invoice, although 4 Series seem to be in pretty high demand so that may be difficult.

[alenda2675]

Hummm... That few does seem very high. Anyone in California pay a similar fee or should I ask for a discount on that? I've always paid between $1000 and $1100 over invoice for my last coupes. So I'm comfortable with that. Still works out to be something like $3000 off msrp.

[m6pwr]

The bank fee is also called an acquisition fee. If you look at the bmwusa web site you'll see the fee mentioned in the descriptions of lease terms for the various models. It is a standard leasing fee and the dealer will not eliminate it altogether. I believe the bank fee BMW NA charges is $725. Dealers typically add on a couple hundred in order to make a little extra profit (capitalist peegs!). They do the same with the Sate registration and titling fees that are part of the money due at signing ("drive-off fees"). You can get a fuller discussion of leasing terms and fees here - http://www.leaseguide.com/index2.htm

[alenda2675]

Originally Posted by m6pwr

The bank fee is also called an acquisition fee. If you look at the bmwusa web site you'll see the fee mentioned in the descriptions of lease terms for the various models. It is a standard leasing fee and the dealer will not eliminate it altogether. I believe the bank fee BMW NA charges is $725. Dealers typically add on a couple hundred in order to make a little extra profit (capitalist peegs!). They do the same with the Sate registration and titling fees that are part of the money due at signing ("drive-off fees"). You can get a fuller discussion of leasing terms and fees here - http://www.leaseguide.com/index2.htm

Thanks for that info. I had a feeling there was a fee if sorts that was mandatory. I think I'm going to email the dealer and make this happen

[alenda2675]

It never hurts to ask "I'm sure it won't be a problem lowering the bank fee by $100"

I feel better now ;-)