Lease Help!!!

[Stelio33]

I have been offered the following lease terms:

2008 535i
Sport Package/Navigation/Comfort/Automatic
3000 Down + Taxes/Tags (2500)
36 Month Lease/12K miles per year
550 Month

MSRP Approx 56,000
Residual Rate 62%
Money Factor .00195 (4.68)

What do we think? I have never leased a BMW. I'm meeting with the dealer tomorrow. Any guidance/info would be greatly appreciated.

Thank you.

 

[535iracer]

I think that putting a down payment for a lease isn't a good idea... but otherwise doesn't seem like a bad deal

 

[BBARON]

It depend on how long you plan on keeping the car? If you agree to this deal, you will pay over $25000 (close to half of what the car is worth) over the next 3 years in order to drive the car for 36000 miles (probably about 1/6 of the miles you can get out of the car). Unless you are bound and determined to get a new car in 3 years, its a bad deal. If the payment is a problem, buy a certified used car with low miles. BMW often offers low interest rate loans on them and sometimes will even make the first couple of payments for you.

 

[BeemerFan56]

lease info consumer clearing house

Hi Everyone,
Any info on lease terms people can share would be useful. I've only found one place (http://www.bmwleasepayment.com) where someone's trying to set up a clearing house where people can share term info to help each other make more informed decisions when leasing. Do you know of anywhere else, so you don't make a leasing decision in the dark? Thanks.