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BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > New & Preowned BMW Ordering / Pricing / Tracking Information Forum (including European Delivery) > Bmw Canadian Lease Rate



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      08-08-2006, 12:16 AM   #1
mindgame2
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Unhappy Bmw Canadian Lease Rate

Just heard from my friend saying that bmw canada is having a promotion of 3.9% leasing on the e90s. After hearing that, i feel somewhat "ripped off" by bmw since i am currently on 6.95% leasing rate (3 years) since the beginning of this year. The price difference between 6.95% and 3.95% reflects a total difference of about 3200 dollars over the 3 years. This means that every month i am paying about 90 dollars extra for the 36 months.

So now the question is: is there anything i can do? or am i just bond with this 6.95% rate for the next 28 months?

Please give me some advise. THX.

Last edited by mindgame2; 08-08-2006 at 01:11 AM.
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      08-08-2006, 05:51 AM   #2
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Well, you have more factors to consider. The 3.9% probably assumes an excellent credit rating, since you are almost up to the 7's it sounds like your credit score isn't too great, so I'd work on cleaning up your credit and no, there is nothing you can do about your payments because you already signed the contract.
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      08-08-2006, 06:41 AM   #3
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To be honest I think you are stuck with the 6.95%. The only thing I can think of is to get rid of the car via one of the swap lease sites and buy another BMW at the new rate.

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Originally Posted by Accounting4Speed
Well, you have more factors to consider. The 3.9% probably assumes an excellent credit rating, since you are almost up to the 7's it sounds like your credit score isn't too great, so I'd work on cleaning up your credit and no, there is nothing you can do about your payments because you already signed the contract.
I don't think credit rating is a factor. When I started lookling for my 2006 BMW a few months ago the lease rates were 6.9%, when I finally signed and picked it up (last month) they were down to 4.9%. I think it is just BMW lowering the rates to get rid of the last of the 2006 models. I suspect they will go back up again when the 2007 models start to come in.
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      08-08-2006, 10:11 AM   #4
mindgame2
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thx for ur input here. here in vanoucver, the lease rate is not correlated with my credit rating. it is just bmw had it on lease for 6.95% back in feb and now it is 3.9%.

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Originally Posted by Accounting4Speed
Well, you have more factors to consider. The 3.9% probably assumes an excellent credit rating, since you are almost up to the 7's it sounds like your credit score isn't too great, so I'd work on cleaning up your credit and no, there is nothing you can do about your payments because you already signed the contract.
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      08-08-2006, 10:14 AM   #5
mindgame2
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thx. i guess my best bet here is to simply fully buy it off and then sale it. then lease another one at the new rate.

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Originally Posted by Two Sheds
To be honest I think you are stuck with the 6.95%. The only thing I can think of is to get rid of the car via one of the swap lease sites and buy another BMW at the new rate.



I don't think credit rating is a factor. When I started lookling for my 2006 BMW a few months ago the lease rates were 6.9%, when I finally signed and picked it up (last month) they were down to 4.9%. I think it is just BMW lowering the rates to get rid of the last of the 2006 models. I suspect they will go back up again when the 2007 models start to come in.
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      08-08-2006, 11:10 AM   #6
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Credit rating is certainly not a factor here for the promotional rate, I was told they are offering it on leases up to 39 months in an attempt to flush the remaining 2006 cars out before the 07's arrive. However once you go to 48 months then the rate goes back up to 7.7%. But to answer the poster's original question, no I don't think there's any simple way to get out of it.
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      08-08-2006, 11:25 AM   #7
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Quote:
Originally Posted by Accounting4Speed
Well, you have more factors to consider. The 3.9% probably assumes an excellent credit rating, since you are almost up to the 7's it sounds like your credit score isn't too great, so I'd work on cleaning up your credit and no, there is nothing you can do about your payments because you already signed the contract.

That has nothing to do with it.

I have the 6.5% also and have perfect credit.

Keep one thing in consideration. The residual value was higher earlier on, with 3.9% lease rate, the residual is probably lower, as a result, you may notice hardly any difference. So don't go and sell your car quite yet, do the math first.
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      08-08-2006, 11:29 AM   #8
volinder
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I just checked, the current Residual for a 330i is 59%. When I bought my car back in feb. it was 62% and when it first came out in Aug. 05 it was 64%. So trust me, if you bought it before, you're probably still ahead.
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      08-08-2006, 04:18 PM   #9
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Thx volinder. I did the math. The difference between the 3.9 and 6.95 rate is like around $3286, which reflects a difference of about 90 dollars per month. U are right about the different residual values. The difference in residual will only be affect to me if i return the car after the lease. Right now i am actually enjoying the e90 (coming from a 02 acura type s), so I might purchase it after three years and possibly run 1 or 2 more years. In my case, then I will need to pay the higher residual value and higher monthly payment compare to current rate and residual.

I guess since there is nothing can be done other than stick to the 6.95%, I can only stare at the promotional rate and cry in my mind.

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Originally Posted by volinder
I just checked, the current Residual for a 330i is 59%. When I bought my car back in feb. it was 62% and when it first came out in Aug. 05 it was 64%. So trust me, if you bought it before, you're probably still ahead.
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      08-09-2006, 11:25 AM   #10
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I signed for my car yesterday and I got it at 3.4% for 39 months with a residual of 60%. I negotiated a 3% fleet discount also and this is what I got...

06 325i
6 speed manual
Sparkling graphite metallic
Sport package
Sunroof

0 down $665.00 taxes in.

What do you guys think of the deal and how does it compare to other provinces/states?
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      08-09-2006, 12:44 PM   #11
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mindgame, you have been driving for 7-8 months right? 7 months ago +6% was the best deal available. You cannot think that you got a bad deal just because a better one exists now.

If I had known that after I got my 325i that they would then lower the mf on the 330, I would have waited because I could have a 330 for about the same payment. Oh well, it doesn't make driving my 325 any less fun.
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