[LASpartan]

Originally Posted by Kball

Not following - how are you arriving at $17k reduction?

MSRP is $86k. Discounts bring the lease payment based off of a $71k MSRP.

[Cortexiphan]

Originally Posted by M3WC

Forget the Plaid.

The Long Range is now $74,990. It is quicker, lighter, and has more range than the M60.

And way worst in everything else.

[wagonallterrain]

Originally Posted by LASpartan

MSRP is $86k. Discounts bring the lease payment based off of a $71k MSRP.

that includes a $6K down payment so it's not all discount.

Monthly lease payments of $959 per month for 36 months is based on an adjusted capitalized cost of $71,130 (MSRP of $86,545, including destination and handling fee of $995, less $6,015 capitalized cost reduction, $0 security deposit, and suggested dealer contribution of $1,900 and $7,500 Lease Credit).

[smithf80]

We're taking several thousand off i5's before the rebates.

[mjr24]

Originally Posted by wagonallterrain

that includes a $6K down payment so it's not all discount.

Monthly lease payments of $959 per month for 36 months is based on an adjusted capitalized cost of $71,130 (MSRP of $86,545, including destination and handling fee of $995, less $6,015 capitalized cost reduction, $0 security deposit, and suggested dealer contribution of $1,900 and $7,500 Lease Credit).

But these are SUGGESTED dealer contributions...meaning dealers may not actually give you any of that off.

[wagonallterrain]

Originally Posted by mjr24

But these are SUGGESTED dealer contributions...meaning dealers may not actually give you any of that off.

agree!

[pgershon]

I have a pre-ordered i5 M60 at port waiting for shipment to East Coast. My dealer had been refusing to make a dealer contribution to a lease. I finally shopped around and found a dealer who would discount on a car that could be here in 8 weeks or so, and my dealer gave me 1.5% off the pre-order (plus the $7500 federal EV credit on leasing and a $1000 rebate from BMW and .0019 MF on lease). I took it, although I still believe that the price is going to come down significantly further given where Tesla is selling their cars.

[goat milk]

Originally Posted by pgershon

Is the 6% off on M60 or eDrive version? I wonder if there is a way to switch dealers once my preorder is in process if my dealer won't budge. My MSRP is $93,500 as built so even a 3% discount would be helpful.

Both are at 6% off. Can't change dealers once order is submitted. It's a DMV area dealer, it'll cost you about $350 to get it up to NYC, plus the broker fee of $600. Still worth it if your dealer is at MSRP.

[pgershon]

Is that 6% off a new custom build or off the dealer's launch vehicle configuration? And if the former, how long is the wait to get a car - dealer allocation becomes a factor too.

I told my dealer I was going to move forward with 1.5% discount. Of course if the market drops significantly over the next month before I get the car, I may come back and ask for more.

[OciWan]

I haven’t even talked price with my dealer and my car is at the port.

[goat milk]

Originally Posted by pgershon

Is that 6% off a new custom build or off the dealer's launch vehicle configuration? And if the former, how long is the wait to get a car - dealer allocation becomes a factor too.

I told my dealer I was going to move forward with 1.5% discount. Of course if the market drops significantly over the next month before I get the car, I may come back and ask for more.

6% off on orders only. Productions usually starts within a couple of weeks, they have allocations. 1.5% discount is horrible. This is 6% off PLUS rebates.

[paladin732]

Originally Posted by pgershon

I have a pre-ordered i5 M60 at port waiting for shipment to East Coast. My dealer had been refusing to make a dealer contribution to a lease. I finally shopped around and found a dealer who would discount on a car that could be here in 8 weeks or so, and my dealer gave me 1.5% off the pre-order (plus the $7500 federal EV credit on leasing and a $1000 rebate from BMW and .0019 MF on lease). I took it, although I still believe that the price is going to come down significantly further given where Tesla is selling their cars.

Are you sure you can do the 0.0019MF on the $7,500 credit?
The 0.0019 MF was from the preorder special, and that had a lower $$$ credit.

[pgershon]

Originally Posted by paladin732

Are you sure you can do the 0.0019MF on the $7,500 credit?
The 0.0019 MF was from the preorder special, and that had a lower $$$ credit.

I am sure that is the deal. I have it in writing from dealer. Getting $8500 rebate from BMW corporate and another $1500 from dealer.

MF is .0019 reduced to .0014 for prepaid lease. 0.08625 sales tax, 53% residual, gross cap cost 92,895 inclusive of $925 acquisition fee, $260 doc fee and $82.50 dmv fee. $4,141 payment, $4361 taxes, 41,140.44 single pay lease

[paladin732]

Can you see if you can get them to give you the IDs for the programs they are using on that? I'll pass it on to my dealer. I'd love to get the $7,500 plus the .0019

Ahh, my residual is 56%, maybe that is the difference?

MF 0.0019 reduced to 0.00148 with 7 MSDs (I think this makes sense?)
0.09375 sales tax
56% residual
MSRP 95145
Selling price: 90,740 (4.63% off MSRP, or $1,500 over invoice)
pre-release $3,500 rebate
college $1,000 rebate

Monthly: $1,149+tax to $1,248

[pgershon]

This is the lease deal:
https://www.bmwusa.com/special-offer...istatebmw.html
How are you getting so much off the MSRP. I fought like heck threatening to walk to get 1.5% off.

[CaboM4]

Originally Posted by pgershon

I am sure that is the deal. I have it in writing from dealer. Getting $8500 rebate from BMW corporate and another $1500 from dealer.

MF is .0019 reduced to .0014 for prepaid lease. 0.08625 sales tax, 53% residual, gross cap cost 92,895 inclusive of $925 acquisition fee, $260 doc fee and $82.50 dmv fee. $4,141 payment, $4361 taxes, 41,140.44 single pay lease

DO NOT DO A PREPAY LEASE ... BMW revised the lease agreement language in 2022 and YOU NO LONGER HAVE GAP PROTECTION with your prepaid $$ as unearned revenue clearly returned to you in a total loss situation.

[pgershon]

Originally Posted by CaboM4

DO NOT DO A PREPAY LEASE ... BMW revised the lease agreement language in 2022 and YOU NO LONGER HAVE GAP PROTECTION with your prepaid $$ as unearned revenue clearly returned to you in a total loss situation.

I don’t understand. What happens with a bmw prepaid lease if car is totalled or stolen month 18? Is this written up anywhere? I cant find a link and dealer not helpful.

[BMW012]

Originally Posted by pgershon

I don’t understand. What happens with a bmw prepaid lease if car is totalled or stolen month 18? Is this written up anywhere? I cant find a link and dealer not helpful.

you are responsible for the 18 months of payment, which whether your insurance pay out fully covers or not, if its less than the 18 months then you owe the difference.

Basically, something like this. but you can double check with your sales person.

[pgershon]

Originally Posted by BMW012

you are responsible for the 18 months of payment, which whether your insurance pay out fully covers or not, if its less than the 18 months then you owe the difference.

Basically, something like this. but you can double check with your sales person.

But isn't this what gap insurance is supposed to cover? (I have asked my dealer - waiting for response)

[pgershon]

I believe I am covered (and please tell me if you see something missing in the below).

My dealers said: "Gap is standard on all BMW leases. Its part of the bank fee. Car is paid off regardless of the difference. You then have to start over with a new car .
As far as the prepaid lease. They divide the prepaid amount of the term in to a monthly amount and give you back the difference in the months that were left in the lease.

My inquiry to him was:

1) Under a normal 36 month, monthly payment lease, if the car is totaled or stolen after 18 months, insurance pays what it considers the market value (I am pretty sure that is how it works). Does my lease terminate at that point, and BMW takes whatever the insurance pays and the gap insurance that BMW provides in the lease cover any potential shortfalls? So I need to get a new car, but BMW has no claim against me for further dollars? (obviously assuming I have proper insurance)

2) Now if I have prepaid the 36 months with a single payment as I plan to do, how is the situation different? Does BMW return to me what would have been my last 18 payments (assuming the same total loss 18 months into the lease)? Do I still have the same gap insurance coverage?

[CaboM4]

Originally Posted by pgershon

2) Now if I have prepaid the 36 months with a single payment as I plan to do, how is the situation different? Does BMW return to me what would have been my last 18 payments (assuming the same total loss 18 months into the lease)? Do I still have the same gap insurance coverage?

You're not covered. You're out your prepaid monies, and "owe nothing else".
If the protections afforded are not in writing within the 4 corners of the legal agreement, it's all bullshit. Believe me ... had my OnePay i7 lease completely redone to a month-to-month after the dealership "had me sign the wrong version of the lease agreement" at delivery. When they presented me the new paper, I told them to fly a kite, until things were in my favor (protection).

Wrap it around a pole 2 minutes down the road after delivery, your SOL!!!

Originally Posted by pgershon

My dealers said: "Gap is standard on all BMW leases. Its part of the bank fee. Car is paid off regardless of the difference. You then have to start over with a new car .
As far as the prepaid lease. They divide the prepaid amount of the term in to a monthly amount and give you back the difference in the months that were left in the lease.

This may have been true in the lease agreements written on paper PRIOR to July 2022 revision. Go check your old lease agreements and see exactly what I mean!

[CaboM4]

ALL BMW LEASE DOCUMENTS were revised by BMW Financial Services as of July 2022. The previous sections that have been in the BMW lease agreements (Standard Closed-End, One-Pay, etc.) specifically covering GAP have been completely removed. The language in the most current version is as follows.

You read this again, and feel free to consult your attorney (as I did), and tell me if you're not fucked out of your prepaid monies in a total loss scenario.

Absolutely NO LANGUAGE here to indicate that you will be returned the pro-rated amount of unearned principal payments on the 36 month lease, which should remain in a liability account on BMW FS books and recorded as revenue earned 1/36th each month.

Example:

MSRP: $100k
OnePay Lease: $50k

Car declared total loss in month 2 - Fair Market Value = $85k; You're current buy-out: $50k residual plus 35 months lease payments (subtract interest - only principal here) - Theoretically = $98k; GAP = $0; Amount Due to BMW to walk away from Car = $0; Amount returned to you = $0 <-- You're fucked - No car and no money back!!


27. Total Loss of Vehicle. If the Vehicle is damaged beyond repair or stolen and deemed a total loss under your insurance coverage ("Total Loss") you will owe us the following and nothing more under the Lease once we receive the full insurance proceeds under the insurance policy:

(a) the deductible amount under your insurance policy; plus

(b) all amounts due and owing under the Lease as of the date of the Total Loss, including past due Monthly Payments, late fees, official fees and taxes or other amounts assessed under the Lease; plus

(c) any amounts (including Monthly Payments) that become due after the date of the Total Loss and before our receipt of the full insurance proceeds; plus

(d) any Excess Mileage due under the lease determined as of the date of the Total Loss; plus

(e) any Excessive Wear due under the Lease determined just prior to the Total Loss, unless your insurance company deducted an amount from the actual cash value of the Vehicle for excess wear (excluding excess mileage), then you will pay the amount of the insurance
company's excess wear deduction; plus

(f) any amount of the Adjusted Lease Balance owing on the Lease as of the date of the Total Loss for a prior credit or lease balance; plus

(g) any amount of the Adjusted Lease Balance owing upon our receipt of the full insurance proceeds that is the remaining balance of the premiums or costs for Ancillary Products to the extent you are entitled to, and a refund is received, from the product provider; plus

(h) any amounts your insurance company deducted from the actual cash value of the Vehicle not attributed to excess wear or use of the Vehicle. If the insurance requirements of the Lease are not satisfied at the time of the total loss of the Vehicle, your liability for the loss will be calculated under Section 29. Your liability for the total loss will also be calculated under Section 29 if: (i} the total loss is due to your fraud, intentional wrongful act or omission, or gross negligence; (ii) you fail to appropriately report the theft to the police; or (iii) the Vehicle is forfeited or confiscated under governmental authority. In the event of a total loss of the Vehicle you will have no further rights or claims to the Vehicle and you assign to us all of your rights under any insurance policy.