Lease Down Payments

[JFW]

Hi All,

I see that the BMW website is offering the 3.0i for 429.00 First month’s payment
+ $2,500 Down payment + $450 Security Deposit. I've never leased a car before and have a few questions.

What are the chances of getting the stealer to lower the down payment?

What about getting more than the 10K mileage without a increased in the payment?

Any chance of getting the Purchase option at lease end lowered?

Any other usefull information.


Thanks

[rangerfan]

Originally Posted by JFW

Hi All,

I see that the BMW website is offering the 3.0i for 429.00 First month’s payment
+ $2,500 Down payment + $450 Security Deposit. I've never leased a car before and have a few questions.

What are the chances of getting the stealer to lower the down payment?

What about getting more than the 10K mileage without a increased in the payment?

Any chance of getting the Purchase option at lease end lowered?

Any other usefull information.


Thanks

The lease you quotes is a sample. Much of it is negotiable. But the ads are generally the best deal you can find. You can lower the down payment, but it will increase your monthly payment. Getting more miles than 10k a year will lower your residual, so the payment will increase. The residual is set by the lender/bank so you can't negotiate it with the $tealer.

[Thunder22]

You should never pay a downpayment on a lease, it's a waste of money. the trick to leasing is to negotiate the price of the vehicle disregarding how you intend to pay for it, and not telling the sales guy which way you're leaning. Get the best price you can, then run the different financing scenarios. My philosophy is to never put ANY money down on a lease, the stealer always tries to get a downpayment because it's up front profit, i always just tell them no downpayment and they just dump it into the monthly... it's always better to pay it monthly, the net present value of the $1 at the end of the lease is always less than at payment #1

[2001BMW330xi]

JFW, sorry to tell you, but the down payment for that special lease is actually a lot higher than you think it is. I've found out that that down payment is just the cap-cost residual, and doesn't include the tax, titles, tags, registration. It varies from state to state, but it usually ends up being another $2500ish. You could pay that up front and add on to the down payment, or roll in into the lease, and have the payments be higher than the special.

Also, that special is bascially just an X5 with automatic transmission. It's really got nothing else and a lot of times a dealer doesn't have those on the lot. If you want that EXACT number, you'll have to put more down and either order one or find one that's pretty stripped down. it's a pretty big letdown...isn't it?


damn that fine print!

[4.6is Ryder]

Originally Posted by gresch

You should never pay a downpayment on a lease, it's a waste of money. the trick to leasing is to negotiate the price of the vehicle disregarding how you intend to pay for it, and not telling the sales guy which way you're leaning. Get the best price you can, then run the different financing scenarios. My philosophy is to never put ANY money down on a lease, the stealer always tries to get a downpayment because it's up front profit, i always just tell them no downpayment and they just dump it into the monthly... it's always better to pay it monthly, the net present value of the $1 at the end of the lease is always less than at payment #1

I totally agree with Gresch...keep your money in your pocket. If you just want to spend it, mod away...don't give it away. You can mod a lease BMW without penalties as long as you use BMW accessories. The only winner in the down payment game is the stealer....Phil