• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

My dad is looking for a lease, $350 or under a month

aphex

aphex

Moderator<br>All Things Apple
Moderator
With basically no money down.

He knows his choices are limited, but just curious what's out there.

Toyota Corolla - $239/mo ($239 down)
Toyota Camry - $269/mo ($269 down)

Most of the other sub-$350 leases require $1500-$3000 down.

Anything else out there to consider?
 
What type of car is he looking for?

In the sedan type segment here's what I could think of:

The VW GTi is $319/mo or so with nothing down
The Civic would be high 200's for highest trim (non-Si)
The Accord would be in that range (for lower end Accord at least)
Mazda6 fully loaded would be in there
Pontiac G6 should qualify in that range as well
Subaru Impreza, Forrester, or the Outback may fit in there also


I am just assuming a sedan is what he is looking for, but if its a suv/truck then that would change of course.

Is he looking for a "luxury" type ride? Just to get him from A to B? Does he care about 4 vs 6 cylinders? Let us know more about what he is looking for in a car, and we can help better 🙂
 
Originally posted by: aphex
With basically no money down.

He knows his choices are limited, but just curious what's out there.

Toyota Corolla - $239/mo ($239 down)
Toyota Camry - $269/mo ($269 down)

Most of the other sub-$350 leases require $1500-$3000 down.

Anything else out there to consider?
Click to expand...

Where did you get those numbers from, Toyota's website? You can probably get much better numbers directly from the dealers. $350/mo should get you a lot of car. I was looking at a 335i via ED for less than that.
 
Originally posted by: iamwiz82
Originally posted by: aphex
With basically no money down.

He knows his choices are limited, but just curious what's out there.

Toyota Corolla - $239/mo ($239 down)
Toyota Camry - $269/mo ($269 down)

Most of the other sub-$350 leases require $1500-$3000 down.

Anything else out there to consider?
Click to expand...

Where did you get those numbers from, Toyota's website? You can probably get much better numbers directly from the dealers. $350/mo should get you a lot of car. I was looking at a 335i via ED for less than that.
Click to expand...

Unless he is trading something in with negative equity in it. Then $350/mo doesn't go very far.
 
Originally posted by: iamwiz82
Originally posted by: aphex
With basically no money down.

He knows his choices are limited, but just curious what's out there.

Toyota Corolla - $239/mo ($239 down)
Toyota Camry - $269/mo ($269 down)

Most of the other sub-$350 leases require $1500-$3000 down.

Anything else out there to consider?
Click to expand...

Where did you get those numbers from, Toyota's website? You can probably get much better numbers directly from the dealers. $350/mo should get you a lot of car. I was looking at a 335i via ED for less than that.
Click to expand...

You were looking at a 335i for less than $350/mo with no money down? I don't see how thats even possible considering from what i've seen lease specials are usually a decent amount under what a normal lease would go for...

http://bmwusa.com/Standard/Con...yiLxxtwIY/KZNB5lztNw==

Looks to be $470 a month with $2500 down
 
Originally posted by: alpineranger
You need to give us more specifics like what sort of terms would be acceptable, and whether his credit is any good.
Click to expand...

I'll also answer the earlier questions;

Sedan or SUV
4 or 6 cylinder
Luxury would be nice, but only if the price is right (he doesn't mind driving an econobox if thats any consolation as long as its reliable, decent MPG, and safe)

He has impeccable credit.

36-48 month lease.


One caveat - No VW. We had major issues with the local VW dealer with our old Passat and Jetta.
 
Originally posted by: aphex
Originally posted by: iamwiz82
Originally posted by: aphex
With basically no money down.

He knows his choices are limited, but just curious what's out there.

Toyota Corolla - $239/mo ($239 down)
Toyota Camry - $269/mo ($269 down)

Most of the other sub-$350 leases require $1500-$3000 down.

Anything else out there to consider?
Click to expand...

Where did you get those numbers from, Toyota's website? You can probably get much better numbers directly from the dealers. $350/mo should get you a lot of car. I was looking at a 335i via ED for less than that.
Click to expand...

You were looking at a 335i for less than $350/mo with no money down? I don't see how thats even possible considering from what i've seen lease specials are usually a decent amount under what a normal lease would go for...

http://bmwusa.com/Standard/Con...yiLxxtwIY/KZNB5lztNw==

Looks to be $470 a month with $2500 down
Click to expand...

Again, looking at those "specials" is for suckers. Go pull up the ED numbers for a BMW 335i and then plug the numbers into a lease calculator. I can get it below $300/mo, depending on how I shmooze the dealer.

Use this calculator to find out the numbers: http://www.leaseguide.com/calc.htm

Look up the MF and residuals for cars on Edmunds.

I just ran a $28000 Camry at $290/mo. There is currently a $750 rebate on them.

Unless he is trading something in with negative equity in it. Then $350/mo doesn't go very far.
Click to expand...

Yeah, that is murder on a lease.

Personally, I always shoot for rebates when looking for leases, because that really helps the monthly payment.
 
Originally posted by: iamwiz82
Originally posted by: aphex
Originally posted by: iamwiz82
Originally posted by: aphex
With basically no money down.

He knows his choices are limited, but just curious what's out there.

Toyota Corolla - $239/mo ($239 down)
Toyota Camry - $269/mo ($269 down)

Most of the other sub-$350 leases require $1500-$3000 down.

Anything else out there to consider?
Click to expand...

Where did you get those numbers from, Toyota's website? You can probably get much better numbers directly from the dealers. $350/mo should get you a lot of car. I was looking at a 335i via ED for less than that.
Click to expand...

You were looking at a 335i for less than $350/mo with no money down? I don't see how thats even possible considering from what i've seen lease specials are usually a decent amount under what a normal lease would go for...

http://bmwusa.com/Standard/Con...yiLxxtwIY/KZNB5lztNw==

Looks to be $470 a month with $2500 down
Click to expand...

Again, looking at those "specials" is for suckers. Go pull up the ED numbers for a BMW 335i and then plug the numbers into a lease calculator. I can get it below $300/mo, depending on how I shmooze the dealer.

Use this calculator to find out the numbers: http://www.leaseguide.com/calc.htm

Look up the MF and residuals for cars on Edmunds.

I just ran a $28000 Camry at $290/mo. There is currently a $750 rebate on them.

Unless he is trading something in with negative equity in it. Then $350/mo doesn't go very far.
Click to expand...

Yeah, that is murder on a lease.

Personally, I always shoot for rebates when looking for leases, because that really helps the monthly payment.
Click to expand...



Where do you see MF and Residuals of the 335i on Edmunds? Its hard to maneuver through the ads.
 
Originally posted by: iamwiz82
Again, looking at those "specials" is for suckers. Go pull up the ED numbers for a BMW 335i and then plug the numbers into a lease calculator. I can get it below $300/mo, depending on how I shmooze the dealer.

Use this calculator to find out the numbers: http://www.leaseguide.com/calc.htm

Look up the MF and residuals for cars on Edmunds.
Click to expand...

Okay, I'll bite how do you get a reasonable lease on a 335 for 300/mo. ED or not. 😛 I'd like to see the #'s...
 
Originally posted by: dirtboy
Originally posted by: iamwiz82
Again, looking at those "specials" is for suckers. Go pull up the ED numbers for a BMW 335i and then plug the numbers into a lease calculator. I can get it below $300/mo, depending on how I shmooze the dealer.

Use this calculator to find out the numbers: http://www.leaseguide.com/calc.htm

Look up the MF and residuals for cars on Edmunds.
Click to expand...

Okay, I'll bite how do you get a reasonable lease on a 335 for 300/mo. ED or not. 😛 I'd like to see the #'s...
Click to expand...

Same here, I don't see how its even possible.
 
Acura TSX for $299 a month national lease special. 10,000 miles and $1500 down (includes first month lease, so about $1200 down.)

Even moving it to zero down and 12,000 miles should keep you under $350, and it's a very nice car.
 
2008 BMW 335i Sedan
24 Month ? Residual 71% of MSRP ? .00210 Base Rate
36 Month ? Residual 61% of MSRP ? .00210 Base Rate
48 Month ? Residual 42% of MSRP ? .00275 Base Rate
60 Month ? Residual 35% of MSRP ? .00275 Base Rate


Add 2% for 12k miles
add 3% for 10k miles

 
Originally posted by: BarneyFife
You can't get a 335i for under $450 month with 0 money down let alone $350.
Click to expand...

That's what I understand as well... It just dosen't seem possible unless you figure the residual is like 85% or you negotiate the car down like 5k under invoice.
 
You have to remember that iamwiz82 is in the business and probably connected more than any of us will ever be.

We can only wait for an explanation.
 
Originally posted by: boomerang
You have to remember that iamwiz82 is in the business and probably connected more than any of us will ever be.

We can only wait for an explanation.
Click to expand...


Unless he gets a special discount, getting a brand new 335i for under $350 month with over 10k and 0 down is a pipe dream.
 
Originally posted by: BarneyFife
Originally posted by: boomerang
You have to remember that iamwiz82 is in the business and probably connected more than any of us will ever be.

We can only wait for an explanation.
Click to expand...


Unless he gets a special discount, getting a brand new 335i for under $350 month with over 10k and 0 down is a pipe dream.
Click to expand...
As I said, I'm waiting for an explanation. I'd like to see the actual numbers instead of references to websites.
 
Originally posted by: boomerang
You have to remember that iamwiz82 is in the business and probably connected more than any of us will ever be.

We can only wait for an explanation.
Click to expand...

ED invoice is $33910, however, BMW FS bases leases on US MSRP, so an ED lease automatically creates a rebate type of deal (In this case, $5,000). Using security deposits stacking and being a current BMW leasee, you can get a much, much lower Money Factor.

I learned this from a fellow ATOTer :thumbsup:


EDIT: BTW, this is for a 10k/year lease. My commute is 4 miles, so no big deal for me, even with lots of extra driving.
 
Originally posted by: iamwiz82
Originally posted by: boomerang
You have to remember that iamwiz82 is in the business and probably connected more than any of us will ever be.

We can only wait for an explanation.
Click to expand...

ED invoice is $33910, however, BMW FS bases leases on US MSRP, so an ED lease automatically creates a rebate type of deal (In this case, $5,000). Using security deposits stacking and being a current BMW leasee, you can get a much, much lower Money Factor.

I learned this from a fellow ATOTer :thumbsup:


EDIT: BTW, this is for a 10k/year lease. My commute is 4 miles, so no big deal for me, even with lots of extra driving.
Click to expand...


I fail to see how your inside deals (or even deals for current BMW leasees) would apply to my dad in this situation. He doesn't currently have a BMW nor has he ever had one. How would he qualify for such a low MF short of his excellent credit? Also, wouldn't security deposit stacking require him to pay quite a bit OTD?

Your not providing us with specific numbers except for the ED Invoice. Saying "much much lower" doesn't help us figure out how to get it down to under $350/mo with no money down.
 
Originally posted by: iamwiz82
Originally posted by: boomerang
You have to remember that iamwiz82 is in the business and probably connected more than any of us will ever be.

We can only wait for an explanation.
Click to expand...

ED invoice is $33910, however, BMW FS bases leases on US MSRP, so an ED lease automatically creates a rebate type of deal (In this case, $5,000). Using security deposits stacking and being a current BMW leasee, you can get a much, much lower Money Factor.

I learned this from a fellow ATOTer :thumbsup:


EDIT: BTW, this is for a 10k/year lease. My commute is 4 miles, so no big deal for me, even with lots of extra driving.
Click to expand...

Don't you have to fly over there to pick it up on your dime??

I'm assuming you mean European Delivery??

 
Ok, lets do a little experiment using the numbers from Bimmerfest.com; Specifically http://www.bimmerfest.com/foru...howthread.php?t=260678 and http://www.bimmerfest.com/foru...howthread.php?t=146090

2008 BMW 335i Sedan
24 Month ? Residual 71% of MSRP ? .00210 Base Rate
36 Month ? Residual 61% of MSRP ? .00210 Base Rate
48 Month ? Residual 42% of MSRP ? .00275 Base Rate
60 Month ? Residual 35% of MSRP ? .00275 Base Rate

Note 4: BMW's Multiple Security Deposit program allows you to give up to 7 extra security deposits for your car. These will not be used to lower the cap cost, but instead for every additional security deposit you give, your money factor will be dropped by 0.00007, thereby lowering your monthly payment. These security deposits are also refunded to you at the end of the lease.

So lets say we stack the max security deposits; 0.00007 x 7 = .00049

At 36 Months, that gives us a MF of; .00161

$38,910 MSRP
$33,910 ED Invoice
61% Residual
.00161 MF
6.5% Sales Tax

I get a monthly payment of $400/month (with a $2800 security deposit), not including the price of the trip to germany and the cost to ship the car to the US.

Sorry, but I still fail to see how this could possibly work for my dad?




UPDATE: Just found this as well;
European delivery (ED) and leasing.

ED gives you a 7% discount on the car, calculated from MSRP. So, if your car had an MSRP of $40,000, you would get a discount of $2800. This discount comes from BMW, not the dealer. So if you can ordinarily buy that $40k for $37,500, you should be able to get $37,500 - $2,800 = $34,700.

But wait! There's more! The dealer does not have to pay the $200-$400 MACO fee, so you can negotiate another $200-400 off the purchase price, now about $34,300. This really helps when leasing, since the residual value is still computed off the original MSRP. A (very) crude approximation to leasing is that you only finance the difference between the purchase price and the residual. Since the residual is fixed off the MSRP, ED makes for significant savings. Another crude approximation is that $1000 on the purchase price is about $30/month on a lease payment. Therefore, on our $40k car, you can expect to save around $100/month on the lease payment in the ED program.
Click to expand...

How are you arriving at $5,000 off MSRP? Thats about 13% off.

 
You must log in or register to reply here.

TRENDING THREADS

Back
Top