Got my car! Now Payments! Am I in good shape??

TheHitchhiker · 08-12-2013, 03:31 PM

Hi everyone! I got my baby today! Let me tell you my numbers. I already signed it but want to get opinions.. It is too late to change.. They sounded good to me though.

2013 335i M-Sport Loaded with stuff 19" 403M rims

MSRP: 57,500$
Discounts: 2,500$
Invoice: 55,000$
Accessories: 2100$ (m perf exterior, inside stuff etc), I negotiated from 2500$ down to this. I did not pay for labor.
Extra: Wheel & Tire Protection, Windshield Protection, GAP Protection, Got TINTED for free, and my CA gave me a free 328i loaner while I was waiting for the car for 2 MONTHS
-------------------------------------------------------------------
I paid and going to pay: 5100$ down (that covers taxes and a little more extra to flatten monthly payments) and 780$ monthly.

What do you guys think? It is 3 years lease for 10k miles a year.

So in 3 years, I'll pay 33180$ in total and my residual is around 35000$ as far as I remember it may be less. So it is 68k if i decide to buy the car instead of 60-61k if I paid now.

PS: Photos coming soon!

Pauleebe · 08-12-2013, 07:43 PM

That is not the right invoice. Invoice should be much closer to $53,700. Build the vehicle at BMW Config to figure this part out.

I would pay no more than $54,000 as the selling price BEFORE any incentives/discounts you are offered.

What is your money factor/APR rate?

You're also putting WAY too much money down up front for a lease. Ask for a breakdown of the "due at signing" fees, taxes, ect. Don't put any additional cash down, it's a poor idea for leases.

And your payment sucks. You're dealer is definitely screwing you somewhere.

Not sure how much negotiating you can do. You already "signed" for it? You waited too long.

justinnum1 · 08-12-2013, 08:06 PM

Seems like way to much for that car

BlueStreakRodriguez · 08-13-2013, 12:45 AM

335I MSRP $5,7550.00 discounted $4,750.00 owners choice program similar to a lease $5k down 10k per year monthly payment $565.00

TheHitchhiker · 08-13-2013, 06:30 AM

Hm that isn't good. I already have a breakdown of the payments. I will put it up here ASAP. I took a look and the amount financed is 60k. You guys did account for extra accessories and w&t, windshield and gap right? My APR is 4% due to not perfect credit. Could that be what is screwing my payments? I did owners choice.

Pauleebe · 08-13-2013, 08:26 AM

Quote:

Originally Posted by tasansal

Hm that isn't good. I already have a breakdown of the payments. I will put it up here ASAP. I took a look and the amount financed is 60k. You guys did account for extra accessories and w&t, windshield and gap right? My APR is 4% due to not perfect credit. Could that be what is screwing my payments? I did owners choice.

That means MF is 0.00167, not that great.

I would get a breakdown.

TN_3 · 08-13-2013, 08:49 AM

Quote:

Originally Posted by tasansal

Hm that isn't good. I already have a breakdown of the payments. I will put it up here ASAP. I took a look and the amount financed is 60k. You guys did account for extra accessories and w&t, windshield and gap right? My APR is 4% due to not perfect credit. Could that be what is screwing my payments? I did owners choice.

Yeah..I think people were assuming this was a lease, OC would make a difference.

ScarecrowBoat · 08-13-2013, 09:19 AM

Quote:

Originally Posted by tasansal

Hi everyone! I got my baby today! Let me tell you my numbers. I already signed it but want to get opinions.. It is too late to change.. They sounded good to me though.

2013 335i M-Sport Loaded with stuff 19" 403M rims

MSRP: 57,500$
Discounts: 2,500$
Invoice: 55,000$
Accessories: 2100$ (m perf exterior, inside stuff etc), I negotiated from 2500$ down to this. I did not pay for labor.
Extra: Wheel & Tire Protection, Windshield Protection, GAP Protection, Got TINTED for free, and my CA gave me a 328i loaner while I was waiting for the car for 2 MONTHS (this was the most generous thing he did)
-------------------------------------------------------------------
I paid and going to pay: 5100$ down (that covers taxes and a little more extra to flatten monthly payments) and 780$ monthly.

What do you guys think? It is 3 years lease for 10k miles a year.

So in 3 years, I'll pay 33180$ in total and my residual is around 35000$ as far as I remember it may be less. So it is 68k if i decide to buy the car instead of 60-61k if I paid now.

And my CA helped me a lot, he is Bino Garcia from Momentum BMW West (On 59) Houston. I was very impatient and a perfectionist I am sure I got him pissed off a lot, but finally got my baby

I want to tip him for the loaner he gave me and the free tint. How much do you guys think is appropriate? Oh and are we allowed to do that anyway?

PS: Photos coming soon!

I think you already tipped him by giving him probably double his normal commission on a 335....

bmdoubleuu · 08-13-2013, 09:59 AM

Quote:

Originally Posted by tasansal

Hi everyone! I got my baby today! Let me tell you my numbers. I already signed it but want to get opinions.. It is too late to change.. They sounded good to me though.

2013 335i M-Sport Loaded with stuff 19" 403M rims

MSRP: 57,500$
Discounts: 2,500$
Invoice: 55,000$
Accessories: 2100$ (m perf exterior, inside stuff etc), I negotiated from 2500$ down to this. I did not pay for labor.
Extra: Wheel & Tire Protection, Windshield Protection, GAP Protection, Got TINTED for free, and my CA gave me a 328i loaner while I was waiting for the car for 2 MONTHS (this was the most generous thing he did)
-------------------------------------------------------------------
I paid and going to pay: 5100$ down (that covers taxes and a little more extra to flatten monthly payments) and 780$ monthly.

What do you guys think? It is 3 years lease for 10k miles a year.

So in 3 years, I'll pay 33180$ in total and my residual is around 35000$ as far as I remember it may be less. So it is 68k if i decide to buy the car instead of 60-61k if I paid now.

And my CA helped me a lot, he is Bino Garcia from Momentum BMW West (On 59) Houston. I was very impatient and a perfectionist I am sure I got him pissed off a lot, but finally got my baby

I want to tip him for the loaner he gave me and the free tint. How much do you guys think is appropriate? Oh and are we allowed to do that anyway?

PS: Photos coming soon!

I think your payment is WAYY to high. For a 2013 328ixdrive with M-sport MSRP 55k I was quoted $455/month for a 10k/36month lease

TheHitchhiker · 08-13-2013, 10:45 AM

Quote:

Originally Posted by dwalls90

That means MF is 0.00167, not that great.

I would get a breakdown.

Is MF 0.00167 caused by my credit score? Or just screwing me up? I'll post the breakdown when I get home.

Quote:

Originally Posted by TN_3

Yeah..I think people were assuming this was a lease, OC would make a difference.

What kind of difference does OC make? I thought it was almost similar.

Quote:

Originally Posted by ScarecrowBoat

I think you already tipped him by giving him probably double his normal commission on a 335....

Well that sucks.

Quote:

Originally Posted by bmdoubleuu

I think your payment is WAYY to high. For a 2013 328ixdrive with M-sport MSRP 55k I was quoted $455/month for a 10k/36month lease

Can you write in detail what else is in this deal? Any Tire and wheel protection, gap, windshield, 2000$ accessories? Because there is 2.5k difference in MSRP + the other stuff (2k parts, 1.2k t&w, gap, and windshield) which adds up to 7000$, which approximates to 200$ extra a month (assuming 1000$ = 30$ a month).

PS. I am not trying to falsify anyone please don't get me wrong, just trying to understand where the HUGE difference comes from. Are you considering everything i posted up there?

Sp82 · 08-13-2013, 10:51 AM

wow!

you got ripped from what I can tell..first of all WAY WAY WAY too much down on a lease..and your payments with THAT much down, are WAYY too high...

you could've gotten into a 6 coupe for that much.

but like you said--too late, enjoy the car!

R12ax7 · 08-13-2013, 11:14 AM

Holy cow that is a mighty bad deal. I have a pretty well equipped 335i, and had only ~$1500 due at signing (including first months payment) and monthly payment of $561 (including tax) for a 12k/year 36 month lease.

I guess the Mperformance parts certainly bump up your down payment number and you did get a loaner for 2 months, but wow.

RT335 · 08-13-2013, 12:38 PM

Enjoy the car.....!!!

Pauleebe · 08-13-2013, 12:41 PM

Quote:

Originally Posted by TN_3

Yeah..I think people were assuming this was a lease, OC would make a difference.

It's a lease, bud. APR still applies to leasing, but is normally called money factor ("MF"). Most CA's present it as APR, though.

TheHitchhiker · 08-13-2013, 02:23 PM

Now I feel bad

Anyway, now everyone agrees it is a bad deal.. Can someone spare the time to explain what may have screwed the price?? Is it my bad choices or my credit; or is it just my CA who screwed me up?

But, I really am enjoying the car... Except the butt pain I have now, which will eventually go away...

JasonX4MComp · 08-13-2013, 03:44 PM

Quote:

Originally Posted by tasansal

Now I feel bad

Anyway, now everyone agrees it is a bad deal.. Can someone spare the time to explain what may have screwed the price?? Is it my bad choices or my credit; or is it just my CA who screwed me up?

But, I really am enjoying the car... Except the butt pain I have now, which will eventually go away...

What was the selling price of the car with accessories? Don't think I missed it.

TheHitchhiker · 08-13-2013, 04:28 PM

Quote:

Originally Posted by Jason335iMsport

What was the selling price of the car with accessories? Don't think I missed it.

60,350$ is the price if I was buying it today. Includes car + parts + t&w + windshield + gap + tint. Car MSRP was 57,500$. Parts total was around 2100$. I will post the breakdown soon. Still at work :/

Falafel Combo · 08-13-2013, 07:35 PM

Isn't owners choice more financing than lease?

Falafel Combo · 08-13-2013, 07:43 PM

Maybe OP's less than ideal credit is at play here?

Haris · 08-13-2013, 08:22 PM

Quote:

Originally Posted by KORALLROT

Isn't owners choice more financing than lease?

It works like a lease. It is only available in states such as IL/TX where sales tax is charged on the Selling Price of the car even if you are leasing. Owner's choice helps reduce tax burden -- that is the only purpose. I think that is why money factor is higher.

At the end of 36 month period, OP will have 3 options:
- Return the car to BMW and BMW will "buy it back" at a predetermined price (residual)
- Finance the ballon payment (residual amount)
- Payoff the ballon payment

Pauleebe · 08-13-2013, 08:27 PM

Quote:

Originally Posted by KORALLROT

Maybe OP's less than ideal credit is at play here?

I doubt it. He only got 1% more than the average APR, that's not enough to justify being over charged $50-100 (not sure of the entire break out) more a month.

TheHitchhiker · 08-13-2013, 11:24 PM

Here are all my numbers.

BEFORE YOU START, MSRP: 5750. Base price = 5750 - 1000 (Ultimate driving exp) = 5650.

No labor on parts, and MSRP for parts was 500$ more before negotiating + Free 3M tint. All other coverage can be seen on papers.

08-12-2013, 03:31 PM	#1
TheHitchhiker Second Lieutenant 35 Rep 214 Posts Drives: 2019 BMW X5 50i Join Date: May 2013 Location: Houston, TX iTrader: (0)	Got my car! Now Payments! Am I in good shape?? Hi everyone! I got my baby today! Let me tell you my numbers. I already signed it but want to get opinions.. It is too late to change.. They sounded good to me though. 2013 335i M-Sport Loaded with stuff 19" 403M rims MSRP: 57,500$ Discounts: 2,500$ Invoice: 55,000$ Accessories: 2100$ (m perf exterior, inside stuff etc), I negotiated from 2500$ down to this. I did not pay for labor. Extra: Wheel & Tire Protection, Windshield Protection, GAP Protection, Got TINTED for free, and my CA gave me a free 328i loaner while I was waiting for the car for 2 MONTHS ------------------------------------------------------------------- I paid and going to pay: 5100$ down (that covers taxes and a little more extra to flatten monthly payments) and 780$ monthly. What do you guys think? It is 3 years lease for 10k miles a year. So in 3 years, I'll pay 33180$ in total and my residual is around 35000$ as far as I remember it may be less. So it is 68k if i decide to buy the car instead of 60-61k if I paid now. PS: Photos coming soon! __________________ Current: 2019 G05 x5 50i M-Sport Past: 2016 F10 550i M-Sport ~ 2015 F83 M4 Convertible ~ 2013 F30 335i M-Sport ~ 2006 E85 Z4 30i Last edited by TheHitchhiker; 08-14-2013 at 10:22 AM..
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08-12-2013, 07:43 PM	#2
Pauleebe Colonel 380 Rep 2,290 Posts Drives: Inbetween BMW's. Join Date: May 2013 Location: Washington, DC iTrader: (0)	That is not the right invoice. Invoice should be much closer to $53,700. Build the vehicle at BMW Config to figure this part out. I would pay no more than $54,000 as the selling price BEFORE any incentives/discounts you are offered. What is your money factor/APR rate? You're also putting WAY too much money down up front for a lease. Ask for a breakdown of the "due at signing" fees, taxes, ect. Don't put any additional cash down, it's a poor idea for leases. And your payment sucks. You're dealer is definitely screwing you somewhere. Not sure how much negotiating you can do. You already "signed" for it? You waited too long.
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08-12-2013, 08:06 PM	#3
justinnum1 Major General 651 Rep 5,803 Posts Drives: 2018 330i Msport 6mt Join Date: Nov 2006 Location: South Florida iTrader: (0)	Seems like way to much for that car __________________ F30 330i Alpine white/Coral red Msport 6MT
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08-13-2013, 12:45 AM	#4
BlueStreakRodriguez New Member 0 Rep 15 Posts Drives: 2015 335I Msport PK Join Date: Jul 2013 Location: corpus christi Tx iTrader: (0)	my car as built 335I MSRP $5,7550.00 discounted $4,750.00 owners choice program similar to a lease $5k down 10k per year monthly payment $565.00
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08-13-2013, 06:30 AM	#5
TheHitchhiker Second Lieutenant 35 Rep 214 Posts Drives: 2019 BMW X5 50i Join Date: May 2013 Location: Houston, TX iTrader: (0)	Hm that isn't good. I already have a breakdown of the payments. I will put it up here ASAP. I took a look and the amount financed is 60k. You guys did account for extra accessories and w&t, windshield and gap right? My APR is 4% due to not perfect credit. Could that be what is screwing my payments? I did owners choice.
	Appreciate 0

08-13-2013, 10:51 AM	#11
Sp82 Colonel 166 Rep 2,000 Posts Drives: F15 X5/G30 5er Join Date: Feb 2006 Location: DFW, Tx iTrader: (1)	wow! you got ripped from what I can tell..first of all WAY WAY WAY too much down on a lease..and your payments with THAT much down, are WAYY too high... you could've gotten into a 6 coupe for that much. but like you said--too late, enjoy the car!
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08-13-2013, 11:14 AM	#12
R12ax7 Major 120 Rep 1,053 Posts Drives: 2021 340xi Join Date: Mar 2008 Location: Philly iTrader: (3) Garage List 2011 328i [0.00]	Holy cow that is a mighty bad deal. I have a pretty well equipped 335i, and had only ~$1500 due at signing (including first months payment) and monthly payment of $561 (including tax) for a 12k/year 36 month lease. I guess the Mperformance parts certainly bump up your down payment number and you did get a loaner for 2 months, but wow. __________________ Current: 2021 340xi Retired: 2018 330xi \| 2016 340i 6MT \| 2013 335i 6MT \| 2011 328i 6MT (N52) \| 2008 335xi (N54)
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08-13-2013, 12:38 PM	#13
RT335 New Member 1 Rep 12 Posts Drives: 335i - Sport-line- Join Date: Jul 2013 Location: Florida iTrader: (0)	Enjoy the car.....!!!
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08-13-2013, 02:23 PM	#15
TheHitchhiker Second Lieutenant 35 Rep 214 Posts Drives: 2019 BMW X5 50i Join Date: May 2013 Location: Houston, TX iTrader: (0)	Now I feel bad Anyway, now everyone agrees it is a bad deal.. Can someone spare the time to explain what may have screwed the price?? Is it my bad choices or my credit; or is it just my CA who screwed me up? But, I really am enjoying the car... Except the butt pain I have now, which will eventually go away... __________________ Current: 2019 G05 x5 50i M-Sport Past: 2016 F10 550i M-Sport ~ 2015 F83 M4 Convertible ~ 2013 F30 335i M-Sport ~ 2006 E85 Z4 30i
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08-13-2013, 07:35 PM	#18
Falafel Combo Banned 3773 Rep 6,673 Posts Drives: X5 xDrive50i Join Date: May 2011 Location: New England iTrader: (3)	Isn't owners choice more financing than lease?
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08-13-2013, 07:43 PM	#19
Falafel Combo Banned 3773 Rep 6,673 Posts Drives: X5 xDrive50i Join Date: May 2011 Location: New England iTrader: (3)	Maybe OP's less than ideal credit is at play here?
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08-13-2013, 11:24 PM	#22
TheHitchhiker Second Lieutenant 35 Rep 214 Posts Drives: 2019 BMW X5 50i Join Date: May 2013 Location: Houston, TX iTrader: (0)	Here are all my numbers. BEFORE YOU START, MSRP: 5750. Base price = 5750 - 1000 (Ultimate driving exp) = 5650. No labor on parts, and MSRP for parts was 500$ more before negotiating + Free 3M tint. All other coverage can be seen on papers. __________________ Current: 2019 G05 x5 50i M-Sport Past: 2016 F10 550i M-Sport ~ 2015 F83 M4 Convertible ~ 2013 F30 335i M-Sport ~ 2006 E85 Z4 30i
	Appreciate 0