First of all I would especially like to get some feedback from people that live in the <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:place w:st="on">Northern <st1:State w:st="on">Virginia</st1:State></st1:place> area, since that’s where I’m located.
<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p> </o:p>
My questions (first time leasing and first time considering a BMW):
<o:p> </o:p>
-are leasing packages limited to the ones offered on the BMW site? Can I negotiate different packages with the dealer?
-how much should I try to negotiate off the list price?
-is it easy to transfer a lease?
-how much does early termination penalty usually cost?
<o:p> </o:p>
Lastly I have silly question,
I really want to get the coupe, but is there a huge performance difference that justifies the premium over the sedan?

thanks for helping out a newbie

First of all I would especially like to get some feedback from people that live in the <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:place w:st="on">Northern <st1:State w:st="on">Virginia</st1:State></st1:place> area, since that’s where I’m located.
<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p>
My questions (first time leasing and first time considering a BMW):
<o:p></o:p>
-are leasing packages limited to the ones offered on the BMW site? Can I negotiate different packages with the dealer?
-how much should I try to negotiate off the list price?
-is it easy to transfer a lease?
-how much does early termination penalty usually cost?
<o:p></o:p>
Lastly I have silly question,
I really want to get the coupe, but is there a huge performance difference that justifies the premium over the sedan?

thanks for helping out a newbie

I'm in New York, but I can help answer some of the question you pose.
I have leased my last 4 cars:
Lease packages can be customized an infinite number of ways.just as in negotiating to buy a car, work your price up from invoice, never down from sticker. make the salesman give you the MSRP. Cap cost(actual purcahse price) Residual and money factor, for the lease.
BMW allows for lease transfers with a $350 fee
BMW charges a $350 lease disposal Fee
From what I hear there is very little difference in the coupe VS the Sedan

I'm in New York, but I can help answer some of the question you pose.
I have leased my last 4 cars:
Lease packages can be customized an infinite number of ways.just as in negotiating to buy a car, work your price up from invoice, never down from sticker. make the salesman give you the MSRP. Cap cost(actual purcahse price) Residual and money factor, for the lease.
BMW allows for lease transfers with a $350 fee
BMW charges a $350 lease disposal Fee
From what I hear there is very little difference in the coupe VS the Sedan

What do you do with these numbers (cap cost, residual, and money factor) once you get them? I have always payed cash when I bought cars before so I just want to break down all these new terms into what I'm paying for the car which should be my negotiated price over invoice x (times) the residual that will be left at lease end times an interest rate to get me to my monthly cost. Then this would be plus tax and any registration fees right?

How do you convert the money factor into an interest rate?

I'm in New York, but I can help answer some of the question you pose.
I have leased my last 4 cars:
Lease packages can be customized an infinite number of ways.just as in negotiating to buy a car, work your price up from invoice, never down from sticker. make the salesman give you the MSRP. Cap cost(actual purcahse price) Residual and money factor, for the lease.
BMW allows for lease transfers with a $350 fee
BMW charges a $350 lease disposal Fee
From what I hear there is very little difference in the coupe VS the Sedan

Thanks for the tips!
ok I need a little more explanation on "work your price up from invoice"
is the invoice price the quote given to you by the salesman?
MSRP is the price listed on the BMW site after you've gone through the build my BMW process?

Thanks

What do you do with these numbers (cap cost, residual, and money factor) once you get them? I have always payed cash when I bought cars before so I just want to break down all these new terms into what I'm paying for the car which should be my negotiated price over invoice x (times) the residual that will be left at lease end times an interest rate to get me to my monthly cost. Then this would be plus tax and any registration fees right?

How do you convert the money factor into an interest rate?

Multiply money factor by 24 to get equivalent "interest rate".

Total payment calculation is not as easy as it would seem. Easiest method is this:

(Cap Cost – Residual Value) / Term = Monthly Depreciation
(Cap Cost + Residual Value) * Money Factor = Monthly Interest
Monthly Depreciation + Monthly Interest = Monthly Payment

Add to the Monthly Payment your taxes and you should get to your final payment number. Up front costs are another story and can vary depending on if you are putting a down payment, what the security deposit is, what the bank fee is, if any taxes are required up front, and what your dealer charges you to do all the title/tags/registration work.

Thank you aftp.

That was very helpful information. Will definitely help me as I am negotiating the lease payment.

Thank you aftp.

That was very helpful information. Will definitely help me as I am negotiating the lease payment.

Your welcome, and good luck with your deal. Most importantly, enjoy the car once you get it!