Question about Buy Rates

[pgaX5]

Hi All,
I'm working with my CA on a deal for a '10 X5 XDrive 30 and it has been really painless thus far. He's already agreed to $1000 over invoice including MACO/Training and confirmed that the $2500 Holiday Finance Incentive can be applied along with BMWFS favorable lease rates. I asked if I would be able to get the November .00225 rate at 57% residual on a 36 month lease...here's the reply:

57% is accurate. The .00225 is the super elite buy rate. You are probably super elite, but the usual rate is .00265. If not super elite it goes up from there

Does this sound right to you all? What FICO Score is required for Super Elite?
Thanks in advance!

[jaaX3]

Check the info below for rates. Your CA is full of it. He is allowed to mark up the rate by .0004 and it looks like that's what he's trying to do. The buy rate is .00225. I've never heard of "super elite."

2010 BMW X5 xDrive 30i
24 Month – Residual 63% of MSRP – .00225 Base Rate
36 Month – Residual 57% of MSRP – .00225 Base Rate
48 Month – Residual 40% of MSRP – .00245 Base Rate
60 Month – Residual 34% of MSRP – .00245 Base Rate
Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
BMW Auto Lease Programs - November 2009 - bimmerfest - BMW Forums

[Texas5]

BMWFS doesn't tier their rates based on credit quality - it's either a "yes" or "no" decision on qualification (unless they've changed something very recently).

Agree with jaaX3, the dealer is attempting to give you the maximum mark up allowed by BMWFS to the lease money factor (0.0004 or about 1% in interest rate terms). You should try to negotiate back down to the buy rate.

While we're on BMWFS lease terms, you should also be aware of the acquisition fee. Last time I checked the base fee was $625, but dealers are allowed to mark it up to $825 - just another source of profit to the dealer.

Nothing necessarily wrong with the dealer making some profit on the financing side of the deal, but you should be an informed consumer.

[jaaX3]

Last I checked, acquisition fee was $725. Dealers are allowed to mark-up $200 (up to $925). When I negotiated the lease on my 335, we agreed on .0001 MF mark-up, and $825 acq fee (got a great deal on the price of the car).