03-30-2015, 08:43 PM | #111 | |
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03-31-2015, 12:56 PM | #112 | ||
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Dealer was going to dismount my PSS tires and re-install RFTs, then noticed non-OEM forged BBS wheels (fronts required spacers), and there it went. Tire brand did not matter. The fact that I got RFTs on day 0 and was thought to be returning the car with non-RFTs at the end of the least is what triggered the notification that I would have been charged for replacing PSS's (to be thrown away) with RFTs. a
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04-03-2015, 12:44 PM | #113 |
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I usually drive 45-50k miles every three years. So by year two I usually have at least 30k miles. So does that mean pull ahead is not an option for me then. I was thinking of leasing for 12k instead of 15k this time and get a new lease within the last 3-4 months.
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04-03-2015, 01:26 PM | #114 | |
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Now there are some potential pitfalls. 1- Many times M cars are not eligible for lease pull ahead 2- They may not offer lease pull ahead or have it at a time when you're eligible 3- If you wanted to stay in the lease until the end That being said, it's not a huge financial hit to pay for extra mileage and you can do that up to the day before lease maturity and get the discounted rate (0.16 vs 0.20). Also you can buy extra mileage multiple times so if you aren't sure exactly how many miles you'll need, you can always underestimate. Lastly pre-purchased extra mileage can be refunded at a prorated amount if you don't use it all.
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04-03-2015, 01:53 PM | #115 | |
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Potential benefits are if they decide in three years to make M cars eligible for lease pull ahead then I'll save to additional payment of mileage and waive disposition fees. So essentially zero downsides and a few potential upsides. Just started the process for an ED M4 this morning so crossing my fingers that everything will go smoothly. |
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04-03-2015, 03:18 PM | #116 | |
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04-03-2015, 04:33 PM | #117 |
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04-03-2015, 04:37 PM | #118 |
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Good luck. I have to wait until 7/9 myself. You will have a great time.
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04-04-2015, 02:30 PM | #120 |
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04-17-2015, 08:37 PM | #121 |
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Wow I never knew about all of this. Thanks for the details information
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05-21-2015, 08:54 PM | #124 |
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As long as the bank fee is the acquisition fee, yes it's mandatory. It's the same as a loan origination fee. Just more profit for the financer, in this case BMWFS. They set their terms and don't negotiate. It's a take it or leave it scenario. Now if they have the bank fee listed as something separate from the acquisition fee, that may be dealer padding and is not mandatory.
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05-21-2015, 10:19 PM | #125 | |
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Lender BMW Financial Services Term 36 Months Mileage 15,000/year Selling Price $46,495.00 Bank Fee $995.00 Total Capitalized Cost $47,490.00 Residual Value $30,256.00 Total Depreciation $17,234.00 Capital Reduction $0.00 Monthly Depreciation $478.72 Monthly Rent $62.20 Monthly Payment $540.92 Plus local sales tax License & Registration $397.75 Documentation Fee $80.00 First Payment $584.19 Security Deposit $4,200.00 Drive Off $5,268.34 |
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05-22-2015, 06:08 AM | #126 | |
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Yes its the acquisition fee, but the dealer is making extra profit in it. The base fee is $795 and the dealer can mark it up to $995. You should tell them you want the base rates and fees. If the deal is great and your ok with paying the extra, you can just leave it. Judging by your username you'll want to negotiate that down.
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05-22-2015, 05:24 PM | #127 | |
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06-02-2015, 10:25 AM | #128 |
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when I sign lease, which lease deal do I get? One available at the time of placing order or the one available at the time of delivery? |
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06-02-2015, 11:49 AM | #130 |
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06-02-2015, 01:06 PM | #131 | ||
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Also remember it's the days after the last day of the lock period. Example 60 day lock Financing locked in 6/2/2015 Lock good until 8/30/2015 not 8/2/2015 It's helpful because you can immediately take advantage of good financing terms without having to worry about waiting until the last few days on the month.
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06-04-2015, 07:27 PM | #132 |
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Thanks OP for this very well written summary!
I have a couple of related questions: 1. Money factor. Why are the leases quoted using the money factor? It is a bit counterintuitive in that you have to take that low number and multiply it by 2400, or 24, depending on decimals, to come up with the interest rate on the lease. Seems more complicated than it needs to be - at least to an average person. 2. Residual value. How close is it to the real price of the car /what you could reasonably sell it for in 3 years when leasing or buying? It depends on several factors, of course, but I wanted to see, if available, some historical chart of the distribution of the car values. In a leasing vs buying decision, it would be easier to buy outright and the sell in 3 years at some price if one knew what you could sell the car for in 3 years. For example, I was just given a residual value if 62% on a 4 series - how safe is it for me to assume that the car can be sold for 62% of msrp 3 years hence? When leasing, this is bmw's risk. 3. Miles driven. The minimum is 10k per year. Leasing is paying for what you use, as was well articulated. If one can't use 10k a year but only 5k then is the decision always to buy the car and then sell it in 3 years for something more than the residual value since the car has fewer miles? Thanks again! |
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