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      09-28-2009, 08:43 PM   #1
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Leasing 2010

I have a 2010 335i arriving to the States this week. This is my first lease and was wondering if anyone could give me ANY advice or info i should look our for or ask about when leasing. Thanks in advance...
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      09-28-2009, 08:53 PM   #2
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Don't put any extra down payment, waste of money.

And if you have the cash available, buy multiple security deposits - you can buy 7, each reducing your money factor by 0.0007. So, the MF goes from 0.0020 (Sept rates) to 0.00151

7 security deposits will be about $6000 on your car, and you will get the full amount back at the end of the lease. This ends up being something like a 27% return on investment. Plus, if something happens to the car, the security deposit is refundable but a down payment is not.
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      09-28-2009, 09:03 PM   #3
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Large down payments on leases are generally considered to be a waste, keep the money. Other than that, stay within the allotted miles (you can buy more up to 4 months before the end of the lease for a reduced rate). Probably shouldn't go mod-crazy either. The car needs to be returned bone stock, so doing a ton of mods usually isn't smart financially.

Enjoy the car. Leasing is good.
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      09-28-2009, 09:10 PM   #4
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Thanks fellas....So when it says $5k due at signing on the website, is there anyway around that? Can I just go up with 3500 and put the rest in security deposits or keep the extra cash?
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      09-28-2009, 09:16 PM   #5
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You can put whatever you want down. The less you put down, the higher your monthly payment will be.

There will be some fees, so you won't be able to do it for nothing out-of-pocket. But unless having a lower monthly is very important to you, I wouldn't do anything more than $1000 down toward the lease. Some would even consider that excessive. Save/invest the cash you would put down, and it should more than make up for the higher monthly.
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      11-28-2009, 11:52 PM   #6
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I'm thinking about doing this multiple security deposits too..how'd it work out for everyone else?

I never heard of it before..
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      11-29-2009, 12:50 AM   #7
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You should be able to lease any 3 series for under invoice because of the Holiday credit.
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      11-29-2009, 01:31 AM   #8
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make sure that they don't screw you over for the dealer fees. i missed that completely because they put that in between the pages, which was bs.
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      11-29-2009, 02:03 AM   #9
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what kind of dealer fees do you mean??
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      11-29-2009, 09:17 AM   #10
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You should have done your due diligence prior to ordering the car. It's too late now. You should have nailed down your negotiated price and lease payment at the time of ordering the car.

Do you know what MF you are getting? Do you know the residual?

You're not going to get a good lease deal when your car is delivered and sitting in the showroom.
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      11-29-2009, 09:31 AM   #11
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Quote:
Originally Posted by SteveMD View Post
You should have done your due diligence prior to ordering the car. It's too late now. You should have nailed down your negotiated price and lease payment at the time of ordering the car.

Do you know what MF you are getting? Do you know the residual?

You're not going to get a good lease deal when your car is delivered and sitting in the showroom.
Unfortunately this is true, I already had what was due before I ordered the car, what was due when it came in, and my monthly payment locked in when I ordered the car.
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      11-29-2009, 09:42 AM   #12
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Quote:
Originally Posted by cruiseluva62886 View Post
I'm thinking about doing this multiple security deposits too..how'd it work out for everyone else?

I never heard of it before..
its better than putting a down payment. i did the multiple security deposits too.
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      11-30-2009, 12:31 AM   #13
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sounds good to me
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      11-30-2009, 03:53 PM   #14
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So, if you're against putting cash down towards a lease, what about trading towards a lease?
I assume that's a no-no as well?
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      11-30-2009, 03:58 PM   #15
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So, if you're against putting cash down towards a lease, what about trading towards a lease?
I assume that's a no-no as well?
I would rather sell the car privately and hold onto the money from the sale. I have never put money down on a lease and never will.
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      12-05-2009, 12:24 AM   #16
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Quote:
Originally Posted by FFBaller View Post
You should be able to lease any 3 series for under invoice because of the Holiday credit.
I got 2000 below invoice with the holiday credit.
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      12-05-2009, 10:16 AM   #17
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can somebody explain the the whole putting security deposits down? I have no idea what that means? thanks
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      12-05-2009, 10:39 AM   #18
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Quote:
Originally Posted by gavinlibra1974 View Post
can somebody explain the the whole putting security deposits down? I have no idea what that means? thanks
The money factor is reduced by 0.00007 for every additional security depsit you front. So if the security deposit is say $600, you can reduce the MF by putting down up to 7x$600 for a total MF reduction of 0.00049.
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      12-05-2009, 05:30 PM   #19
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what is the reasoning for a security deposit on a lease?
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      12-05-2009, 05:59 PM   #20
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Quote:
Originally Posted by gavinlibra1974 View Post
what is the reasoning for a security deposit on a lease?
The same as any kind of security deposit - like on an apartment for example.

If you turn the car in with damage beyond normal wear and tear, the security deposit is used to compensate BMW.

On your second BMW lease, the deposit is waived.
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      12-06-2009, 10:56 AM   #21
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Thanks for the info Steve MD!!
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      12-13-2009, 05:30 AM   #22
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Agreed...some real good info from Steve on this topic. So if one additional security deposit reduces your MF by .0007 do we know how much that would reduce the payment?
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