Jan. 07 lease rates?

[Janesays19]

Anyone have the numbers? Money factor? Residual? Please link. Thanks. Happy New Year all.

[aftp302]

Anyone have the numbers? Money factor? Residual? Please link. Thanks. Happy New Year all.

Keep checking the link below, it's not up yet but should show up in a day or two.

http://forums.roadfly.com/forums/financing

[SilverTT]

I'm kind of new to the whole leasing thing as I've always paid cash for my cars. But I think I'm gonna lease this one if the rates are competitive.

Do different dealerships have different residuals?

Do they all have the same interest rate or is every dealer different?

What is the "money factor"?

I recognize you can negotiate the price (discount off msrp or invoice, etc) but once you've done that are all leases pretty much apples to apples other than mileage allowance and downpayment?

Thanks,

Dan

[E90Toad]

I'm kind of new to the whole leasing thing as I've always paid cash for my cars. But I think I'm gonna lease this one if the rates are competitive.

Do different dealerships have different residuals?

Do they all have the same interest rate or is every dealer different?

What is the "money factor"?

I recognize you can negotiate the price (discount off msrp or invoice, etc) but once you've done that are all leases pretty much apples to apples other than mileage allowance and downpayment?

Thanks,

Dan

Residuals for BMW are set by BMWFS (Financial) and vary based on term of the lease and model that you are leasing. No negotiation takes place on this number.

The MF "is" the lease equivalent to a interest rate on a loan. It is negotiable, but is regulated by BMWFS to be the base rate + no more than .0004. So for instance, in Dec the base MF for a E90 335 was .00150, the dealer can add .0004, so you have the ability to negotiate between .0015 and .0019 (about 3-4% interest equivalent). The only other way to change this number is by changing the amount of your lease deposit. You can put down multiple refundable lease deposits and decrease your MF by a set factor per $700 deposit. I forget the exact number, but I think it is .00007 or somewhere close. If your dealer allows you can also not put a deposit and they will add this into the MF.

Also, try to put as little down as possible. 1st pmt + deposit + any taxes due is a good start. Anything else is lost if you have an accident because it is not paid for by your insurance company. Roll all other things into your lease.

[aftp302]

Anyone have the numbers? Money factor? Residual? Please link. Thanks. Happy New Year all.

The January 2007 lease information is now up.

http://forums.roadfly.com/forums/financing/8186473-1.html

[SilverTT]

E90 Toad -

Thanks for the full description. Definitley a big help as I figure this all out.

So is there a conversion to go from the Money Factor to a straight interest rate?

Sounds like this money factor is just something to confuse people. I just want to be able to compare the lease option to a straight financing option given the residual, down payment, and interest rate I'm paying on the portion of the car I am "using."

[tunlhd1]

To get the interest rate multiply the money factor by 2400.