Lease deal in Socal, what do you guys think?

[eneka]

So after 2 hours of negotiating and the saleswomen getting decently annoyed at me...this is for a Capparis White rEX, Giga model, with parking and tech package, and 20"rims.

MSRP $53545
59% residual, $31591

Sale Price: $47750
-$1000 Socal Driving experience Incentive
-$1000 BMW Build out Cash
-$1000 College Grad Incentive
-$7500 federal rebate thingy
-$2500 down payment

=$34250 cap. cost


$5736 Drive off (Including $2500 down+ $1400 MSD+1st month +taxes&fees. )

$199.74/month

$11520 total. -$2500 CA rebate -$1400 MSD =$7628 for 30months.

I wanted $180/month and they wouldn't so I walked haha. They didn't have the car on their lot either way. Going to head to another dealer that has Laurel Grey which is what I want and see if they can do $180 with the same drive off. Do you think $180/month is possible?

 

[Leasi3]

I have some ideas for you.

1) They're adding just under .00040 (max allowed by BMWFS) to the base Money Factor. If you have good credit, get them to do better on the MF. You need to let them make money somewhere in the deal, but that additional MF adds just over $25 to each months' payment.

2) Don't put any money down on the lease. Putting money out of your own pocket for a cap cost reduction has no upside -- If the car gets stolen/totaled you won't get any of that back from the gap insurance. (ASIDE: Every BMWFS lease has gap insurance built in, don't let them try to sell you other gap insurance.) If possible, don't put the CA incentive down and take it as a check made out to you outside of the deal. It'd be like getting the first 9.x payments made for you.

3) A 10.8% discount off of MSRP isn't bad for a vehicle that the dealer doesn't have in stock. Others have done better, but I'm not sure how much of the SDE and CG incentives have to be funded out of the dealer's pocket. If you can find one in stock somewhere else you may be able to do better.

4) Have no compunctions about shopping for a better deal. This is business and a vendor that will go further to win your business deserves the deal.

 

[eneka]

I have some ideas for you.

1) They're adding just under .00040 (max allowed by BMWFS) to the base Money Factor. If you have good credit, get them to do better on the MF. You need to let them make money somewhere in the deal, but that additional MF adds just over $25 to each months' payment.

2) Don't put any money down on the lease. Putting money out of your own pocket for a cap cost reduction has no upside -- If the car gets stolen/totaled you won't get any of that back from the gap insurance. (ASIDE: Every BMWFS lease has gap insurance built in, don't let them try to sell you other gap insurance.) If possible, don't put the CA incentive down and take it as a check made out to you outside of the deal. It'd be like getting the first 9.x payments made for you.

3) A 10.8% discount off of MSRP isn't bad for a vehicle that the dealer doesn't have in stock. Others have done better, but I'm not sure how much of the SDE and CG incentives have to be funded out of the dealer's pocket. If you can find one in stock somewhere else you may be able to do better.

4) Have no compunctions about shopping for a better deal. This is business and a vendor that will go further to win your business deserves the deal.

Thanks for the tips! How would I go about asking them to lower the Mony Factor? I believe i have a good credit. (FICO~790).

If I don't put the $2500 down, wouldn't it raise the rent fee?

Based on my reasearch, the SDE and CG incentives come directly from BMW so they should'nt be loosing out on with those.

I've been cross shopping with about 5 dealers. The one dealer that does have the car with the spec I want isn't giving me attention! It's just fustrating walking into a dealer, handing them the quote I got from another, and then listening to the salesman/women telling me how the other dealer is hiding numbers yada yada i've been doing it for years and they're not calculating it right, same story every time and then finally matching the price about an hour...and then I spend another hour to just get $7/month less... I'm in no "need" to buy the car, if I can't get the price I want, I'm not buying it, If I do, I'll sign the papers then and there. The only thing that's potentially rushing me is the build out cash ending on the 30th. Can't find out what next month's incentives are going to be.

 

[spitfire]

So after 2 hours of negotiating and the saleswomen getting decently annoyed at me...this is for a Capparis White rEX, Giga model, with parking and tech package, and 20"rims.

MSRP $53545
59% residual, $31591

Sale Price: $47750
-$1000 Socal Driving experience Incentive
-$1000 BMW Build out Cash
-$1000 College Grad Incentive
-$7500 federal rebate thingy
-$2500 down payment

=$34250 cap. cost


$5736 Drive off (Including $2500 down+ $1400 MSD+1st month +taxes&fees. )

$199.74/month

$11520 total. -$2500 CA rebate -$1400 MSD =$7628 for 30months.

I wanted $180/month and they wouldn't so I walked haha. They didn't have the car on their lot either way. Going to head to another dealer that has Laurel Grey which is what I want and see if they can do $180 with the same drive off. Do you think $180/month is possible?

Hi. Could you please post the money factor offered and the #of miles/yr? That would be helpful for prospective buyers like me who are trying to follow along and compute the deals that people seem to be getting. Thanks!

PS- if you don't go for that car, and the dealer is near me (SoCal), I'd maybe be interested in dealing on it

 

[spitfire]

I have some ideas for you.

1) They're adding just under .00040 (max allowed by BMWFS) to the base Money Factor. If you have good credit, get them to do better on the MF. You need to let them make money somewhere in the deal, but that additional MF adds just over $25 to each months' payment.

Do you have a sense of the range of MF that the dealers can offer, and what is considered good? The published BMW lease seems to imply 3.23% APR which I think is .00135 MF. Would be helpful for keeping the dealer honest as I look to negotiate perhaps later this week.

Thanks!

 

[Leasi3]

Do you have a sense of the range of MF that the dealers can offer, and what is considered good?

The Edmunds i3 leasing forum reports that the current base MF (The lowest a dealer can offer before MSDs) is .00131.

Dealers do not always mark up the MF, so the best you can do is to get the base rate for your selected lease term based upon your credit score.

 

[eneka]

Never got around to updating it but this is what I ended up getting

Car is an Arravani grey rex, giga, 20", parking, and driving assistant.
MSRP $53545 10k/yr 30month

Selling price is 47960 (11% off msrp)
-Happier Holiday $2000

=$45,960

Residual is still the same this month at 59% 30 month/10k

$31951.55

7500 federal rebate
1000 college grad
1000 UDE
=$9500 cap. reduction

$2383.46 (taxes, registration and fees)
$1750 (7 Security deposits@$250/each)
$237.71 first payment

$4371.28 due at signing.

so 237.71*29 =6893.59+4371.28

$11264.87-$1750(security dep)-$2500(CA rebate)

=$7,014.87 total cost of lease after 30 months.

I probably could've gotten another $1k off the msrp but I was content with the deal.