For those that are looking to lease a new BMW...

ehhhwik · 11-28-2008, 04:33 PM

i currently still on a lease for another 8 months, but because of all the crazy low rates right now, i went into my dealer and asked what were my options, if i could get out of my lease right now and can get into a new ride for less money, why not?

so here's what my little day of research found out for me, if you want to get out of your lease early, you are still responsible for your remaining payments on the lease, although the dealer might be able to help you out on a portion of the payments (not worth it to do imho)

the other interesting thing i found out was, if you are currently financing or leasing your car through BMW Financial and want to jump into a new BMW and lease or finance one, they apparently will give you a "loyalty" discount off the lowest rate they have...so for example, for a 08' e90 now, they are giving 1% finance and 2% lease rate, the rates would be 0.5% and 1.5% respectively...

this might be old news for some of you, but i actually had no idea about the "loyalty" discount until now, so wanted to share it with you guys, i know 0.5% is not much of a discount on the lease/finance rate, but its better than nothing!

oel · 11-28-2008, 04:59 PM

when i asked last year, the loyalty discount was 1% off the rates. They decreased it now

halB · 11-28-2008, 06:42 PM

As far as I know loyalty discount rate had always been 0.5%. For repeat customer they usually take 1 - 2 % more off the new value as well.

bulldog_yyc · 11-28-2008, 07:12 PM

good to know, thanks for the info

youyou · 11-28-2008, 08:10 PM

Quote:

Originally Posted by ehhhwik

i currently still on a lease for another 8 months, but because of all the crazy low rates right now, i went into my dealer and asked what were my options, if i could get out of my lease right now and can get into a new ride for less money, why not?

so here's what my little day of research found out for me, if you want to get out of your lease early, you are still responsible for your remaining payments on the lease, although the dealer might be able to help you out on a portion of the payments (not worth it to do imho)

the other interesting thing i found out was, if you are currently financing or leasing your car through BMW Financial and want to jump into a new BMW and lease or finance one, they apparently will give you a "loyalty" discount off the lowest rate they have...so for example, for a 08' e90 now, they are giving 1% finance and 2% lease rate, the rates would be 0.5% and 1.5% respectively...

this might be old news for some of you, but i actually had no idea about the "loyalty" discount until now, so wanted to share it with you guys, i know 0.5% is not much of a discount on the lease/finance rate, but its better than nothing!

Bmw as well as Mercedes has always had a loyalty interest rate discount of 0.5%.
I was in the same situation as you and had 16 months left on my lease. So what i did is invest 250$ on Leasebusters and got someone to take over my lease in 2 weeks time.
Ended up going from a fully loaded E92 335 to a fully loaded E93 M3 for 100$ more a month on a lease.
I just couldn't pass up the opportunity...

Two Sheds · 11-28-2008, 08:17 PM

Quote:

Originally Posted by youyou

Bmw as well as Mercedes has always had a loyalty interest rate discount of 0.5%.
I was in the same situation as you and had 16 months left on my lease. So what i did is invest 250$ on Leasebusters and got someone to take over my lease in 2 weeks time.
Ended up going from a fully loaded E92 335 to a fully loaded E93 M3 for 100$ more a month on a lease.
I just couldn't pass up the opportunity...

I'm surprised you managed to get someone to take it off leasebusters. I looked into it briefly a while ago and it looked like I would have to put in several thousand to get rid of mine due to my monthly payments and all the discounts they have off new cars now.

Out of interest what was your experience like with leasebusters? when you handed over your car to the new person, was it done at a BMW dealer? if so did they check the car over for damage for you/the new guy? I'm thinking of maybe getting my next car through leasebusters so would be interested to hear of any experience with them.

And not to totally hijack the thread do you know if this loyalty discount is for all of BMW (incl mini?) and do you have to get the new car immediately or could you have a few months gap?

Skeptikal12 · 11-28-2008, 10:03 PM

You have a 6 month time period from the end of your lease to get a new car and get the discount. And yes it can be used on a MINI.

Regarding lease busters, it is up to the buyer to decide if he wants to take over the payments by looking at the condition of the vehicle and the terms. BMW has nothing to do with the status of the car at the time of the transfer, they only do the paperwork (and rake in the cash) that is necessary for a new person to be billed.

I think the fee is $300 for leasebusters and the transfer fee for the paperwork is roughly $1100+.

taichi · 11-28-2008, 10:21 PM

i actually got 0.5% off my lease rate for my first BMW~

11-28-2008, 04:33 PM	#1
ehhhwik Brigadier General 114 Rep 3,431 Posts Drives: 09' BMW 335d, 07' BMW E92 328i Join Date: Oct 2006 Location: Vancouver, BC iTrader: (5)	For those that are looking to lease a new BMW... i currently still on a lease for another 8 months, but because of all the crazy low rates right now, i went into my dealer and asked what were my options, if i could get out of my lease right now and can get into a new ride for less money, why not? so here's what my little day of research found out for me, if you want to get out of your lease early, you are still responsible for your remaining payments on the lease, although the dealer might be able to help you out on a portion of the payments (not worth it to do imho) the other interesting thing i found out was, if you are currently financing or leasing your car through BMW Financial and want to jump into a new BMW and lease or finance one, they apparently will give you a "loyalty" discount off the lowest rate they have...so for example, for a 08' e90 now, they are giving 1% finance and 2% lease rate, the rates would be 0.5% and 1.5% respectively... this might be old news for some of you, but i actually had no idea about the "loyalty" discount until now, so wanted to share it with you guys, i know 0.5% is not much of a discount on the lease/finance rate, but its better than nothing! __________________ Current: 09' E90 335d - Titanium Silver/Black Leatherette/Sports Package/6AT Paddle Shift/USB Integration/19" Staggered Breyton GT Gloss Black Retired: 07' E92 328i (Jet Black)
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11-28-2008, 04:59 PM	#2
oel Lieutenant 28 Rep 441 Posts Drives: 09' E90 335i, 13' E92 M3 Join Date: Oct 2006 Location: Vancouver, BC iTrader: (19) Garage List 2009 E90 335i [0.00]	when i asked last year, the loyalty discount was 1% off the rates. They decreased it now
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11-28-2008, 06:42 PM	#3
halB Colonel 53 Rep 2,384 Posts Drives: W211 E350 4M MkV GTI 987.2 S Join Date: Jan 2007 Location: Just north of Toronto iTrader: (0)	As far as I know loyalty discount rate had always been 0.5%. For repeat customer they usually take 1 - 2 % more off the new value as well. __________________ 07 E93 335i - Returned at lease end 09 W211 E350 4Matic Avant Garde - Blk/Blk, AMG pkg w/18". Sport Susp. F1 Asym. Debadged. 09 MkV GTI w/Leather & 18" Huffs. F1 Asym 10 987.2 S w/Leather sport seat, Sport Chrono, 19" Carrera S II wheels
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11-28-2008, 07:12 PM	#4
bulldog_yyc Major General 130 Rep 5,040 Posts Drives: GT3RS Join Date: Oct 2008 Location: probably work iTrader: (28)	good to know, thanks for the info
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11-28-2008, 10:03 PM	#7
Skeptikal12 Private First Class 1 Rep 108 Posts Drives: none Join Date: Oct 2007 Location: Ontario iTrader: (0)	You have a 6 month time period from the end of your lease to get a new car and get the discount. And yes it can be used on a MINI. Regarding lease busters, it is up to the buyer to decide if he wants to take over the payments by looking at the condition of the vehicle and the terms. BMW has nothing to do with the status of the car at the time of the transfer, they only do the paperwork (and rake in the cash) that is necessary for a new person to be billed. I think the fee is $300 for leasebusters and the transfer fee for the paperwork is roughly $1100+.
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11-28-2008, 10:21 PM	#8
taichi Captain 52 Rep 937 Posts Drives: F30 & F25 Join Date: Oct 2006 Location: B.C, Canada iTrader: (6) Garage List 2013 BMW 328i xDrive [10.00] 2013 BMW X3 28i [0.00]	i actually got 0.5% off my lease rate for my first BMW~ __________________ some lip, some springs, some brakes, some wheels.
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