What’s the Current BMW Money Factor for Leases in 2023?

BMW
1

I’m currently looking into leasing a BMW and I keep hearing about the money factor, but I’m not entirely sure how it works.

What is the Money Factor?

The money factor is essentially the financing fee expressed as a decimal. It’s used in lease calculations to determine the monthly payment. Unlike traditional financing where you hear about interest rates, leasing uses money factors, which can sometimes be a bit confusing.

Current Money Factor Rates

For anyone who has recently leased a BMW, what’s the money factor you were quoted? I’ve read that it may vary based on the model and your credit score, but I’d love to get some insight into what others are experiencing this year.

Comparing Models

Are there significant differences in money factors across different BMW models, or do they tend to be fairly consistent? If you have any experiences with models like the 3 Series, X5, or even the electric i4, I’d appreciate your input!

Negotiation Tips

Lastly, any tips on how to negotiate a better money factor? I understand that dealerships sometimes mark these up, so are there strategies to ensure I’m getting the best possible rate?

Thanks in advance for your help! Looking forward to your responses!

2

The money factor is essentially the interest rate for leasing. It tells you how much interest you’ll pay on your lease. In 2023, BMW’s money factors can vary based on credit scores and regional promotions.

1 Like
3

That’s right! It’s important to negotiate the money factor just like you would the price of the car. Lowering it can save you a lot over the lease term!

4

Yes, that’s correct! And remember, factors like your credit score can greatly influence the money factor you get. Higher scores usually mean lower money factors!

5

I heard the formula to calculate the money factor is to divide the annual percentage rate by 2400. Anyone can confirm that?

6

Exactly! A strong credit history can make a huge difference in leasing terms. That’s why it’s crucial to check your credit before leasing a BMW in 2023.

3 Likes
7

What money factor are current leases actually showing? Anyone have recent numbers to share?

2 Likes
8

I’ve seen figures around .0015 to .0025 for BMW leases lately, depending on where you live and your credit. It’s wild how much it varies!

1 Like
9

That’s good to know! Are there certain promotions or seasons that tend to offer better money factors?

5 Likes
10

Typically, end-of-year sales and model year turnover can yield better money factors as dealerships are motivated to move inventory. Keep an eye out for those!

11

Great question! Money factor affects your monthly payments, while residual value is what the car is predicted to be worth at lease end. Both are crucial for calculating true lease costs.

12

This is all very informative! I might finally understand leasing after all this time. Just a bit nervous to negotiate.

13

Don’t worry! Just be confident and do your homework on money factors. It can make a big difference in your lease deal!

14

I’ve been leasing my BMW X3 this year, and the money factor I was quoted was .00137. It seems to vary a lot based on the model and credit. Anyone else notice this?

15

I leased a 3 Series, and my money factor was slightly lower at .00125! The deals can really depend on the dealership’s promotions too.

16

I’ve heard that the money factor can differ quite a bit for different regions. What’s the situation in your area?

17

That’s great! I wish I had known to negotiate better. I feel like mine could have been lower.

18

Just got a quote for a 2023 BMW 530i, and the money factor is at .00145. What’s the typical range for that model?

19

For the 5 Series, I’ve heard it can fluctuate between .00135 and .00155 based on your credit score. Can anyone confirm?

20

That makes sense! My friend had similar experiences with the 7 Series. Credit really plays a big role.