2008 335i Coupe lease quote - opinions?

[brianc]

...here's the numbers from my spreadsheet. The thing I'm not happy with is the sale price. I've been dealing with several dealers and I can't seem to get it down any more than $2,200 over invoice. Has anyone been able to get a better sale price on a 2008 coupe? Are there any other one time fees they may try to hit me with before I sign?


MSRP $46,570
Invoice $42,900 (this is from edmunds, bmw dealer says it's $43,400)
Sale Price $45,260
TMV (LA area) $46,328
Acquisition Fee $625
Lic & Registration $364
Documentation Fee $45 ?? (what is this)
Security Deposit $750
additional MSD's (7) $4,200
Down Payment $0
Total Drive-off Cash $6,738 (includes MSD's)
Residual % 60
Residual $27,942
Payment - Depreciation $481
Money Factor 0.00186 (includes 7 x .00007 reduction from MSD)
Payment - Rent $136
Total Payment $617
Total Payment w/tax $668

[Bandit335]

Read other similar posts. I paid less than $1k over invoice on a 2008 335 coupe at the end of summer. It should be easier to get a good deal now or soon when the snow falls. My suggestion is wait a little longer perhaps early January (if you can) and $1k over invoice should be not hard at all. You have to tell them your price up front and not wait for them to offer you the best deal as that never works.

Just noticed you're in CA. You will probably have to go out of state to get a better deal. GO somewhere where it snows heavily in winter. Good luck.

[Beer Goggles]

Edmunds doesn't mean squat. You want a car that's popular and they know it, I'm sure you might be able to use your best deal and call 3 dealers and get a better one...or just say this is what I want to pay....i had to pay sticker since it was an MT and hard to find (plus I wanted it and was willing to pay).

You know you might want to put half of those MSDs down on cap cost...I think if you look putting 2K down will be bring down the monthly and you'll have your other half sitting in your bank...but some people like giving car companies interest free loans I guess.


Oh, if you're an AUTO CLUB member try there...I heard you'll get a better deal using them.

[brianc]

Thanks for the quick reply's. I have considered putting money down but would hate to crash the car and be out a bit of money. I calculated that I'm saving $1400 over 3 years doing the MSD's and that if I put that same $4200 into something safe at say 8% I would make less than $1400 on that investement over the same 3 years so I figured the MSD was worth it. I also do realize that putting some down will also reduce my payments so that savings also needs to be taken into account.

I'll have to check out the Auto club I am a member. How does that work? Do you simply call them and give them the details?

[Beer Goggles]

Thanks for the quick reply's. I have considered putting money down but would hate to crash the car and be out a bit of money. I calculated that I'm saving $1400 over 3 years doing the MSD's and that if I put that same $4200 into something safe at say 8% I would make less than $1400 on that investement over the same 3 years so I figured the MSD was worth it. I also do realize that putting some down will also reduce my payments so that savings also needs to be taken into account.

I'll have to check out the Auto club I am a member. How does that work? Do you simply call them and give them the details?

Give them a call and see if BMW is in the program. I didn't use it, but of course after somebody said they had a good program similar to military discounts.


Your insurance covers gap, and I think GAP insurance is included in the BMW loan (check that). They don't depreciate like crazy either. So if you're worried about being upside down in a loan, it's not really a worry and honestly most leases are upside down.

[Beer Goggles]

Is this a 3 or 4 year lease? I got a much higher # using your #s. I had to guess on the tax at 8%.

I got 751/month with all the stuff you gave me at 36.

[aftp302]

Thanks for the quick reply's. I have considered putting money down but would hate to crash the car and be out a bit of money. I calculated that I'm saving $1400 over 3 years doing the MSD's and that if I put that same $4200 into something safe at say 8% I would make less than $1400 on that investement over the same 3 years so I figured the MSD was worth it. I also do realize that putting some down will also reduce my payments so that savings also needs to be taken into account.

I came to the same conclusion, my calculations worked out that I'd have to earn 9% or more to beat the benefits of MSD so I did it too.


I'll have to check out the Auto club I am a member. How does that work? Do you simply call them and give them the details?

I used Costco auto club. You give them your information and they give you a contact at a participating dealer (usually the Internet salesperson) and then you contact them directly. They just quoted a "member" price of $1207 off sticker on my configuration (MSRP $47,020). That was on a sedan and in December 2006.

[Beer Goggles]

And by putting 2k on cap and using a .0022 MF it came out to $715/36

Which means a total pay out of 27740 with 2K Cap reduction versus $27036 if you were to just use MSDs but having over 4K with them at no interest. Looks like to me that 2K cap reduction is the best.

[sor]

Ouch, my MSRP was $53k, my money factor was higher, I put less down, and my payment is less than that. I assume this is a 15k lease with that 60% residual?

Also, the invoice price gets fuzzy a bit with the options, as the margin on each option varies.

[brianc]

I agree with what you wrote above ^ (Beer Goggles) something along these lines...

MSRP $46,570
Sale Price $45,260
Down Payment $2,000

Acquisition Fee $625
Lic & Registration $364
Documentation Fee $45
Security Deposit $750
additional MSD's (3) $1,800
Total Drive-off Cash $6,200 (includes MSD's + 1st month)

Residual % 60
Residual $27,942
Payment - Depreciation $426
Money Factor 0.00214 (includes 3 x .00007 reduction from MSD)
Payment - Rent $157
Total Payment $582
Total Payment w/tax $630

my numbers are lower than yours. My numbers agree with the dealers quotes so hopefully they're correct - if you think I'm making an error certainly let me know!

[brianc]

Sor, if you don't mind I'd love to see your numbers and how they worked out. Do you have a 2008 coupe? The BMWFS MF vary greatly depending on the model...sedan = .00200, coupe = .00235

the lease terms I'm looking at are 36mo/12k. If your MF was higher and down payment less I can't see how it could be less, maybe if you did 24 months? or maybe the selling price you got was very very good...

[sor]

Not only the model but the month. I don't have the exact details on hand, and the details I have in e-mail are slightly different than what I ended up with, but here is the quote I worked off of.

MSRP $53,975 This dropped about $1k in the final deal, removed some options (paint premium+wheel package).
Selling price $52,175 Deal was to split the margin, so this dropped a bit as well, think I was around $50,400.
Cap reduction 3k ($4500 drive away, minus first payment and fees left about 3k)
money factor .00295 (this dropped just a bit by the time my car arrived, think I was around .0027)
term 39 mo, 12k
residual 63% (had option of 61% for 15k, 64% for 10k)

payment quoted as above before tax was $656.38/mo + tax of $43.32.
actual payment after noted changes ended up $598.86/mo + tax of $37.44

[blkbmw3]

curious how many miles a year?
When I when to dealership for a fairly loaded (no navi) 335i with 15k miles a year was in the 720 a month ball park.

[Jhunter]

Brianc, I can't get to your number form what you presented in post #10.

I get total cash $5,749.55

Monthly $625.55

Are the multiple security deposits $600 each and not the $750 of your actual deposit?

The documentation fee to answer your earlier questions is a dealer fee (profit). At $45 I would not woory about it, its typical to see these in the hundreds of dollars

Edit: I just changed my calculation to capitalize the sales tax on the cap cost reduction and I now get almost your exact numbers (my numbers above had another error also).

[Jhunter]

Overall I don't think your deal looks too bad. You may hold out for more discount (I got $1,500 off MSRP on a coupe a year ago) but your disoucnt my be good for your market. Do you know if the money factor is the BMWFS base money factor or is there a dealer mark-up in it? Otherwise I don't see any other dealer fat in the deal.

[brianc]

OK thanks. you got a good residual. You also got a decent sale price - probably saved about $25/month vs my numbers right there. I've negotiated with (8) dealerships in my area and can't get anyone down to less than $2,000 over invoice. My numbers actually aren't too far off from yours. If I was to put down $3,000 my payments would be $537, $581 with 8.25% tax. The MSRP on my spec is about $5600 less than yours, so at 63% residual that would subtract about $2,000/36 = ~$60/month...so $636 versus $581 is actually very close.

[sor]

OK thanks. you got a good residual. You also got a decent sale price - probably saved about $25/month vs my numbers right there. I've negotiated with (8) dealerships in my area and can't get anyone down to less than $2,000 over invoice. My numbers actually aren't too far off from yours. If I was to put down $3,000 my payments would be $537, $581 with 8.25% tax (of course the MSRP on my spec is abotu $5k less than yours). I see, you're not counting the security deposits as money you put down since you'll get it back.

[mryakan]

I see, you're not counting the security deposits as money you put down since you'll get it back.
security deposits don't count towards reducing the cap cost. They just tend to decrease the MF by a couple of points. And yeah, you get them back, but unless the saving due to lower MF is more than you would get putting them in a savings account, then it is not worth it. A downpayment would reduce the interest portion of your lease meaning less per month and less over all payed. I assume the OP did the math to figure which is more beneficial.

[brianc]

Do you know if the money factor is the BMWFS base money factor or is there a dealer mark-up in it?

most of the guys are giving me BMWFS numbers straight up. It's .00235 for the 335i coupe. I'm dealing strictly with internet sales, it's so much easier. When I went in to test drive these cars several times I would sit down with the sales guy and there would always be numbers missing...and the payment would be $900/month or whatever. It's pretty funny, I just run out of there instead of negotiating blindly.

[brianc]

btw this car is actually for my girlfriend. I'm still driving and still love my 98 M3! Funny thing is she's a lawyer and at least as good as me with numbers and when she was calling and emailing they were giving her ridiculous numbers...something about being a girl - she really couldn't even get close on a deal. So if you're a women you may want to try having your husband/boyfriend/father take care of the negotiating. Sounds stupid but just my experience.

[brianc]

ok here's the final line on this one...

2008 335i coupe (Auto, leather, sports package, metallic paint, paddel shifters, sirius radio)
MSRP $46,570
Sale Price $45,000 (still $1500 over invoice)
Down Payment $2,000

Acquisition Fee $625
Lic & Registration $364
Documentation Fee $45
Security Deposits (8 Total) $4800
Total Drive-off Cash $8,427 (includes MSD's + 1st month + one time fees)

Residual % 60
Residual $27,942
Payment - Depreciation $418
Money Factor 0.00186 (includes 7 x .00007 reduction from MSD)
Payment - Rent $130
Total Payment $548
Total Payment w/tax $593

This is the best I could do in southern california this month.

[Beer Goggles]

http://www.leaseguide.com/calc.htm

I used that lease calc, it helped me see if I was getting a good deal. Maybe I messed up the numbers somewhere.

At this point I don't remember my lease details. I paid sticker, put $6500 down (my trade value) which included the standard $1300 or so fees. And I pay $568 15K/36m..a sedan would have been less than that with $4K total drive off...but I wanted the coupe :)

[brianc]

a sedan would have been less than that with $4K total drive off...but I wanted the coupe
I agree 100%. At least at this time the sedan looks very pedestrian while the coupe looks so aggressive, it's long and sporty but luxury all at the same time. It's the most beautiful BMW I've seen in the past 10 years. Maybe that will change in time - but at that point your lease is about up...

[Beer Goggles]

I agree 100%. At least at this time the sedan looks very pedestrian while the coupe looks so aggressive, it's long and sporty but luxury all at the same time. It's the most beautiful BMW I've seen in the past 10 years. Maybe that will change in time - but at that point your lease is about up...

Yeah it is, the only car when I was looking that made me go drive it when I saw one. I still love the subtle beauty of my car and it's been 6 months or so. I still think my 350Z was more of a head turner, but this is a different car. More like a classy lady, versus the hot one with tattoos. Although my Z was pretty good looking...I miss it :)

But that link I sent you was always a little low when i do the #s...they don't show you ways they roll things into the amount financed. So be careful of that. They can show you it's charged up from and then it's really financed and it sounds silly but financing even $500 over 3 years is stupid.

[Beer Goggles]

ok here's the final line on this one...

2008 335i coupe (Auto, leather, sports package, metallic paint, paddel shifters, sirius radio)
MSRP $46,570
Sale Price $45,000 (still $1500 over invoice)
Down Payment $2,000

Acquisition Fee $625
Lic & Registration $364
Documentation Fee $45
Security Deposits (8 Total) $4800
Total Drive-off Cash $8,427 (includes MSD's + 1st month + one time fees)

Residual % 60
Residual $27,942
Payment - Depreciation $418
Money Factor 0.00186 (includes 7 x .00007 reduction from MSD)
Payment - Rent $130
Total Payment $548
Total Payment w/tax $593

This is the best I could do in southern california this month.

I just don't see putting that much on MSD...do half of them and $2K down...but if she's cool with it I guess it doesn't matter. I was happy with my deal and I'm sure it wasn't the best. But my happiness made be go with what I got.

[brianc]

I just don't see putting that much on MSD...do half of them and $2K down...but if she's cool with it I guess it doesn't matter. I was happy with my deal and I'm sure it wasn't the best. But my happiness made be go with what I got.

yes, that very well may be the case. We may end up doing 3 or 4 and the monthly payment will still be be under $600 (and the deposits won't increase to $650)

[brianc]

I ordered the car tonight. I was able to knock off the last few hundred on the sale price. We basically split the difference between msrp and invoice so in the end I paid $1,400 over invoice. Not great but reasonable for a 2008 335i coupe in the LA area. In comparison I was able to negotiate invoice + $800 on the 335i sedan and invoice + $450 on the 328i sedan. Those aren't too difficult. However we wanted a 335i coupe and wanted to order it now so I'm happy (BTW be sure to not talk in terms of invoice when you're talking to the sales guys unless you know exactly what the invoice is and make sure they're not stacking other one-time fees in there). Regarding the lease rates they are locked in when you order the car. If the lease rates go up over the subsequent two months while you're waiting for the car you still get the negotiated rate. If they go down you get the new rates.
The specs on the car changed slightly from what I had quoted earlier in the thread. Below are the exact numbers. Hopefully this can help someone out. I wouldn't take any less than something based on these numbers...

2008 335i coupe, monaco blue/black
-Auto
-Premium
-Sports package
-Metallic paint
-Paddle shifters
-Sirius radio

MSRP $47,670
Sale Price $45,800
Down Payment $2,500

Acquisition Fee $625
Lic & Registration $364
Documentation Fee $45
Security Deposits (6 Total) $3000
Total Drive-off Cash $7,737 (includes MSD's + 1st month + one time fees)

Residual % 60
Residual $28,602
Payment - Depreciation $408
Money Factor 0.002 (includes 5 x .00007 reduction from MSD)
Payment - Rent $146
Total Payment $554
Total Payment w/tax $600

[neapolitan]

Yours looks to me like a reasonable deal, actually pretty good, although not the absolute best I've ever seen (rare). From what I've seen paid prices are highly geographic -- I was about to drive 300 miles to pick mine up when my local dealer came through with a very good offer.

One of my young friends at work is almost crying he has to give his baby back (lease up, can't afford to buy out.) Such a shame!

[Dave Schotz]

Hi Guys... I'm looking to Lease a 335i Sedan... and appreciate all the info on here. (I love the coupe too... but have two little ones... so the back doors make the whole car seat thing a bit more practical).

I'm a bit confused on why so many 'addt'l security deposits' are put down? What does that do? For my first quote... my security deposit was just $600? Is there actually a benefit to giving them more?

Please advise,
Thanks,
Dave

[dimes]

btw this car is actually for my girlfriend. I'm still driving and still love my 98 M3! Funny thing is she's a lawyer and at least as good as me with numbers and when she was calling and emailing they were giving her ridiculous numbers...something about being a girl - she really couldn't even get close on a deal. So if you're a women you may want to try having your husband/boyfriend/father take care of the negotiating. Sounds stupid but just my experience.

I've witnessed similar sexism. I have also witnessed minorities quoted worse deals than white people. All sad but all true. If your g/f tells them she's an attorney she'll do better as well. I dunno what a good deal is on a coupe. I got 2% off MSRP on a Cabrio

[mryakan]

Hi Guys... I'm looking to Lease a 335i Sedan... and appreciate all the info on here. (I love the coupe too... but have two little ones... so the back doors make the whole car seat thing a bit more practical).

I'm a bit confused on why so many 'addt'l security deposits' are put down? What does that do? For my first quote... my security deposit was just $600? Is there actually a benefit to giving them more?

Please advise,
Thanks,
Dave
You get a better MF with a higher SD. For each extra SD you get certain pts off.

[Beer Goggles]

Hi Guys... I'm looking to Lease a 335i Sedan... and appreciate all the info on here. (I love the coupe too... but have two little ones... so the back doors make the whole car seat thing a bit more practical).

I'm a bit confused on why so many 'addt'l security deposits' are put down? What does that do? For my first quote... my security deposit was just $600? Is there actually a benefit to giving them more?

Please advise,
Thanks,
Dave

It will realistically drop the APR about 1%, which if you have about $5,000 to LOAN BMW and you want the lowest APR it can help...honestly I don't see loaning them that money (you do get it back).