Lease payments

ds7777 · 04-10-2008, 04:09 PM

Can anyone please give us an indication on the lease payments for a 1-series?

we're looking at a 128i coupe with options which would bring it to about $42k. Thinking of a $5k down for 36 months. MSD (multiple security deposits) might be possible to the max...to reduce the interest on the lease.
any idea what the monthly bill will be?

cheers

coco_m3 · 04-10-2008, 04:53 PM

i dont know what the lease rates in vancouver are. but i did a lease on BMWUSA.COM and the car was 42400.
3yr. lease.
10000 miles per year
5000 down.
540.00 per month not including taxes and all the lease fees and junk.

thats alot to pay for a 128i, i would upgrade to the 135i if i was you...

Road Runner · 04-10-2008, 05:00 PM

I got a lease quoted for a 135 w/ M Sport pkg, Comfort Access, Prem Audio, Metallic paint.

$6000 down, 39 month, 57% resid, and it was like $800/month

That probably doesn't help you much, but just giving you what I got.

Going to finance anyways though.

warmtoes · 04-10-2008, 05:41 PM

You can add 2% and get it up to 59% residual if you go to the 20,000 km option. The APR right now is 6.9%. You can reduce your APR by 0.9% using the multiple security deposit lease option by putting down 9 full refundable security deposits which are equal to the monthly payments.

brsk · 04-10-2008, 06:10 PM

I plan on doing an upfront lease. I will use the line of credit through a bank which is .5% below prime and the rates are going to keep going down for a while and that is much cheaper than the rates that BMW are offering. It will be about 31k up front your payments would be about $840.00 a month to the bank for 39 months to pay it back. This is a 20k a year lease. 59% residual. Any other thoughts on this?

ds7777 · 04-10-2008, 07:58 PM

thanks to you all.

warmtoes: what do you mean "You can add 2% and get it up to 59% residual"? cash is not an issue, but we prefer to lease for tax reasons, and we like to change cars ever 3 years.

im not sure what would be better: putting down 9 x security deposits to decrease the APR, or just paying a larger down payment.

brsk: i too have a line of credit at the bank which has better rates, but how do they calculate the residuals? or did you get a "single lease payment" through BMW and asked your bank to finance that?

brsk · 04-10-2008, 08:10 PM

The residual and the single lease payment was from BMW, I am using the money from my line of credit to pay the single lease payment.

Moto1 · 04-10-2008, 08:26 PM

Based on your number 42K - 5K down - 36 month lease - 57% residual - 6.90% lease rate - payment should be around $680.00 inlcuding taxes - use www.leaseguide.com/calc.htm its very accurate.

warmtoes · 04-10-2008, 08:54 PM

ds7777, sorry for not being clear. The residual with a 24K kms lease is 57% but if you opt for the 20K kms lease you go up to 59% residual which reduces your lease payments.

As for your second question, do not put down a large down payment. For instance, if you total the car 3 months from now the insurance company is not going to pay you the value that's left on the lease but rather the market value which is less. BMW does have gap insurance on their leases but any downpayment you have may be lost to make up the differential.

If cash is not a problem then take advantage of the Multiple Security Deposit lease and put no money down and live with the big monthly payments so you are not exposed.

InOttawa · 04-10-2008, 10:55 PM

Quote:

Originally Posted by warmtoes

As for your second question, do not put down a large down payment. For instance, if you total the car 3 months from now the insurance company is not going to pay you the value that's left on the lease but rather the market value which is less. BMW does have gap insurance on their leases but any downpayment you have may be lost to make up the differential.

If cash is not a problem then take advantage of the Multiple Security Deposit lease and put no money down and live with the big monthly payments so you are not exposed.

Your own insurance company may have a policy that they will cover the full cost of the car for 12 months or 24 months (mine does). If you have that, then your down payment is not lost.

InOttawa · 04-10-2008, 11:01 PM

Quote:

Originally Posted by brsk

I plan on doing an upfront lease. I will use the line of credit through a bank which is .5% below prime and the rates are going to keep going down for a while and that is much cheaper than the rates that BMW are offering. It will be about 31k up front your payments would be about $840.00 a month to the bank for 39 months to pay it back. This is a 20k a year lease. 59% residual. Any other thoughts on this?

That's what I always do... one note: if you do a one time payment, BMW gives you an extra 0.25% off the lease rate.

Also, make sure you have an insurance policy that will pay you the *total* cost of the car if it's totaled/stolen in at least the first 12 months. If you don't have that, you run the risk of losing a good chunk of your money if something happens in the first year or two.

warmtoes · 04-11-2008, 01:38 AM

InOtttawa has a good point. I totally forgot that you can get full replacement cost insurance from ICBC. I think they have a couple of different coverages.

Moto1 · 04-11-2008, 01:44 AM

Full replacement cost insurance from ICBC for a max of 3 years - that is why I go with a 3 year lease.

warmtoes · 04-11-2008, 09:29 AM

Me too. Altough, they do have coverage for cars 3 years and older now too.

ds7777 · 04-11-2008, 06:06 PM

That's great guys - thank you for explaining to me.

my goal is to get the lease payments down to between $500-$600 a month, using a 5k deposit, and MSD to assist.

waiting to hear back from the bank on the lease rates theyre gonna offer me..

MrRoboto · 04-11-2008, 07:29 PM

^^^That would be perfect.

koala · 04-11-2008, 10:03 PM

2.00% for 36 months on all 3 series sedans right now.

A 328i ($41,000) is $555 a month, 0 down on a 20,000 km lease.
A 335i ($49,900) is $688 a month, 0 down on a 20,000 km lease.

I'd have a hard time justifying a 1 series with rates like that.

warmtoes · 04-11-2008, 10:18 PM

If you wanted a sedan it would be a hard choice. But if you wanted a convertible it wouldn't.

koala · 04-11-2008, 10:24 PM

Quote:

Originally Posted by warmtoes

If you wanted a sedan it would be a hard choice. But if you wanted a convertible it wouldn't.

Yeah, convertibles aside of course. I think these 2% rates on the 3 series are just a pre-cursor for what's coming on the 1 series down the road anyway. Fortunately I don't need to do a new vehicle until November, so I can wait this out... some people may not have that kind of time or patience :biggrin:

Moto1 · 04-11-2008, 10:31 PM

If you compare the 328i coupe and the 128i with the same options - even at 2.00% lease rate with zero down the lease payment is approx. $100.00 more a month - as warmtoes states if you want a sedan then it is a hard choice but if you want a coupe the 1er is the better value in my opion that is why I am leaning towards the 1 series.

warmtoes · 04-11-2008, 10:34 PM

I think it'll probably be a year before we start seeing rates like that for the 1 series but I guess it could be the fall if the economy really tanks.

04-10-2008, 04:09 PM	#1
ds7777 Registered 1 Rep 4 Posts Drives: Join Date: Mar 2008 iTrader: (0)	Lease payments Can anyone please give us an indication on the lease payments for a 1-series? we're looking at a 128i coupe with options which would bring it to about $42k. Thinking of a $5k down for 36 months. MSD (multiple security deposits) might be possible to the max...to reduce the interest on the lease. any idea what the monthly bill will be? cheers
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04-10-2008, 04:53 PM	#2
coco_m3 Brigadier General 166 Rep 4,311 Posts Drives: Supercharged E90 M3 Join Date: Mar 2008 Location: SL,UT iTrader: (1) Garage List 2008 BMW M3 [0.00] 2010 BMW E90 335i [0.00]	i dont know what the lease rates in vancouver are. but i did a lease on BMWUSA.COM and the car was 42400. 3yr. lease. 10000 miles per year 5000 down. 540.00 per month not including taxes and all the lease fees and junk. thats alot to pay for a 128i, i would upgrade to the 135i if i was you... __________________
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04-10-2008, 05:00 PM	#3
Road Runner Lieutenant 18 Rep 470 Posts Drives: Join Date: Aug 2007 iTrader: (0)	I got a lease quoted for a 135 w/ M Sport pkg, Comfort Access, Prem Audio, Metallic paint. $6000 down, 39 month, 57% resid, and it was like $800/month That probably doesn't help you much, but just giving you what I got. Going to finance anyways though. __________________ Le Mans Blue 135i
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04-10-2008, 05:41 PM	#4
warmtoes Lieutenant Colonel 31 Rep 1,917 Posts Drives: EBII 435i xDrive Join Date: Apr 2008 Location: Vancouver iTrader: (1)	You can add 2% and get it up to 59% residual if you go to the 20,000 km option. The APR right now is 6.9%. You can reduce your APR by 0.9% using the multiple security deposit lease option by putting down 9 full refundable security deposits which are equal to the monthly payments.
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04-10-2008, 06:10 PM	#5
brsk Registered 0 Rep 4 Posts Drives: Join Date: Apr 2008 iTrader: (0)	I plan on doing an upfront lease. I will use the line of credit through a bank which is .5% below prime and the rates are going to keep going down for a while and that is much cheaper than the rates that BMW are offering. It will be about 31k up front your payments would be about $840.00 a month to the bank for 39 months to pay it back. This is a 20k a year lease. 59% residual. Any other thoughts on this?
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04-10-2008, 07:58 PM	#6
ds7777 Registered 1 Rep 4 Posts Drives: Join Date: Mar 2008 iTrader: (0)	thanks to you all. warmtoes: what do you mean "You can add 2% and get it up to 59% residual"? cash is not an issue, but we prefer to lease for tax reasons, and we like to change cars ever 3 years. im not sure what would be better: putting down 9 x security deposits to decrease the APR, or just paying a larger down payment. brsk: i too have a line of credit at the bank which has better rates, but how do they calculate the residuals? or did you get a "single lease payment" through BMW and asked your bank to finance that?
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04-10-2008, 08:10 PM	#7
brsk Registered 0 Rep 4 Posts Drives: Join Date: Apr 2008 iTrader: (0)	The residual and the single lease payment was from BMW, I am using the money from my line of credit to pay the single lease payment.
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04-10-2008, 08:26 PM	#8
Moto1 Enlisted Member 0 Rep 32 Posts Drives: Join Date: Apr 2008 iTrader: (0)	Based on your number 42K - 5K down - 36 month lease - 57% residual - 6.90% lease rate - payment should be around $680.00 inlcuding taxes - use www.leaseguide.com/calc.htm its very accurate.
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04-10-2008, 08:54 PM	#9
warmtoes Lieutenant Colonel 31 Rep 1,917 Posts Drives: EBII 435i xDrive Join Date: Apr 2008 Location: Vancouver iTrader: (1)	ds7777, sorry for not being clear. The residual with a 24K kms lease is 57% but if you opt for the 20K kms lease you go up to 59% residual which reduces your lease payments. As for your second question, do not put down a large down payment. For instance, if you total the car 3 months from now the insurance company is not going to pay you the value that's left on the lease but rather the market value which is less. BMW does have gap insurance on their leases but any downpayment you have may be lost to make up the differential. If cash is not a problem then take advantage of the Multiple Security Deposit lease and put no money down and live with the big monthly payments so you are not exposed.
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04-11-2008, 01:38 AM	#12
warmtoes Lieutenant Colonel 31 Rep 1,917 Posts Drives: EBII 435i xDrive Join Date: Apr 2008 Location: Vancouver iTrader: (1)	InOtttawa has a good point. I totally forgot that you can get full replacement cost insurance from ICBC. I think they have a couple of different coverages.
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04-11-2008, 01:44 AM	#13
Moto1 Enlisted Member 0 Rep 32 Posts Drives: Join Date: Apr 2008 iTrader: (0)	Full replacement cost insurance from ICBC for a max of 3 years - that is why I go with a 3 year lease.
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04-11-2008, 09:29 AM	#14
warmtoes Lieutenant Colonel 31 Rep 1,917 Posts Drives: EBII 435i xDrive Join Date: Apr 2008 Location: Vancouver iTrader: (1)	Me too. Altough, they do have coverage for cars 3 years and older now too.
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04-11-2008, 06:06 PM	#15
ds7777 Registered 1 Rep 4 Posts Drives: Join Date: Mar 2008 iTrader: (0)	That's great guys - thank you for explaining to me. my goal is to get the lease payments down to between $500-$600 a month, using a 5k deposit, and MSD to assist. waiting to hear back from the bank on the lease rates theyre gonna offer me..
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04-11-2008, 07:29 PM	#16
MrRoboto Brigadier General 1846 Rep 4,836 Posts Drives: VO 1M Join Date: Aug 2007 Location: Canada iTrader: (0)	^^^That would be perfect.
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04-11-2008, 10:03 PM	#17
koala Second Lieutenant 4 Rep 228 Posts Drives: 06 BMW M Coupe Join Date: Dec 2008 Location: Edmonton, AB CA iTrader: (0)	2.00% for 36 months on all 3 series sedans right now. A 328i ($41,000) is $555 a month, 0 down on a 20,000 km lease. A 335i ($49,900) is $688 a month, 0 down on a 20,000 km lease. I'd have a hard time justifying a 1 series with rates like that. __________________ 2006 M Coupe \| Interlagos Blue \| Black Interior.
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04-11-2008, 10:18 PM	#18
warmtoes Lieutenant Colonel 31 Rep 1,917 Posts Drives: EBII 435i xDrive Join Date: Apr 2008 Location: Vancouver iTrader: (1)	If you wanted a sedan it would be a hard choice. But if you wanted a convertible it wouldn't.
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04-11-2008, 10:31 PM	#20
Moto1 Enlisted Member 0 Rep 32 Posts Drives: Join Date: Apr 2008 iTrader: (0)	If you compare the 328i coupe and the 128i with the same options - even at 2.00% lease rate with zero down the lease payment is approx. $100.00 more a month - as warmtoes states if you want a sedan then it is a hard choice but if you want a coupe the 1er is the better value in my opion that is why I am leaning towards the 1 series.
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04-11-2008, 10:34 PM	#21
warmtoes Lieutenant Colonel 31 Rep 1,917 Posts Drives: EBII 435i xDrive Join Date: Apr 2008 Location: Vancouver iTrader: (1)	I think it'll probably be a year before we start seeing rates like that for the 1 series but I guess it could be the fall if the economy really tanks.
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