Hey all ! I’m new to LeaseHackr but have been reading up on info here extensively in the last few days/weeks as I have been in the car buying process. I wanted to ask if 10-12% is normal for a 2021 BMW X3 xDrive30i in Denver, Colorado, or perhaps even the surrounding states? I am looking at a MSRP of $53,635.00 and I was given a sell price of $50,170.00 when I know that there are more discounts to be given from what I’ve read here. ANY insight would be very appreciated. I am open to travel up to 1k from me for the right deal.
You might have to go out of state (probably CA or AZ) for 10-11% with base MF, heard CO isn’t very competitive. Or, work with a broker from the marketplace section.
@Drew_CentennialLease may be able to help, but if not I’d look out of state. Kelly Antuna at co’s(now John Elway) will be your best shot at a CO dealer. Tell him what you want and if he can do it he will.
Thank you very much to each of you for the replies. @ETL what is the name of this dealership where Kelly Antuna works? Is it Loveland BMW?
@notaleasepro what does working with a broker look like? fees, etc?
@IAC_Scott I have figured out the MF and residual are very similar to what is posted online as a standard, however I haven’t been able to see much $$ taken off sale price in form of any discounts or rebates.
What is not true? I was told MF is 0.00133 and residual rate is around 55-56% for my zip and the car I am looking at. Please correct me if I am mistake. Thanks!
Thanks for the feedback. I understand this deal isn’t great, hence why I asked for feedback. I have understood leasing and I’m not sure the need for this comment? Please enlighten me if you so wish.
Well they dont match up the MF or residual that is standard I’d say. I am using lease calculator and it says it should be closer to $619/mo with 2k down given the 0.00093 rate you provided, and a 55% residual.
The fact that you don’t seem to know the money factor is marked up makes me think you can maybe read up a thing or two on leasing. Also the discount is tiny and they are selling you lease protection for $1475. Maybe wait till tomorrow more people can chime in. Colorado is tough but you but market place has lots of comparable deals and brokers often post complete calculators. Lots of data about X3. Good luck!
Please excuse sharksfan15, his is a little crusty because the Colorado Avalanche have been stomping the baby sharks this year and the sharks probably won’t make the playoffs. LOL
As pointed out by another, leasing in the Denver metro area is tough. Not many dealers are willing to give spectacular deals. Guess they have too many people willing to buy at MSRP. Had an area Toyota dealer mark up the price of a 2020 Tundra 20k above MSRP due to “market adjustment”.
I ended up leasing cars from dealers in Kansas, so definitely check the neighboring states. Hopefully you have a little time to get into a lease because some deals might take a bit of time to materialize. Else, like others have stated you can utilized the services of a broker.
FYI, and I sure you might already know this, use the Edmunds forums to find the MF and RV for any vehicle you are looking to lease. Looks like they did give you pricing with and without lease protection. I have come to realize many “unicorn” deals on this site are just that, 1 time deals that probably can’t be matched. Unicorn deals are to be had, just takes some time (and a little luck) to find em.
True true true. I never “found” any unicorns until I learned A TON from the folks on this site (beacuse I didnt truly know what I was looking for). From there, it just takes effort (sometimes more than its worth TBH…)
Regardless of the deals you have now, you are looking at two vehicles with very different deal possibilities - the xDrive30e is probably more of a buy option rather than a lease deal as BMWFS does not pass along the federal tax credit. If you lease the xDrive30e, you’ll be losing out on a chunk of change.
Choose a trim. Start plugging everything into the LH calculator beginning with MSRP.
Enter a selling price that’s around the % off MSRP based on searching LH forums and looking at the pre-incentive discount found in shared deals and Marketplace offers.
Enter RV, MF and incentives from Edmunds forums based on those for your zip.
You already have the fees and tax rate from your deal sheet
Hit the green “Share” button and copy/paste the unique link here.
The fact that you went into this without determining buy rate and just went off them telling you the fully marked up mf is what it should be shows you don’t understand leasing. That’s OK, we all come here to learn. Just be open to the fact that there’s much you don’t know. Someone stating that isn’t being critical or putting you down, just trying to help you frame what you don’t know. We all can fall victim to Dunning-Kruger.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
Read Leasing 101 (EDITORIAL | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
Pick a specific vehicle that you want to target
Gather the current MF, RV and incentives from Edmunds forums for your zip code
Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
I’m not sour, the Av’s have the best line in hockey, hope they go deep in the playoffs and I am actually started out as a Leafs fan so I have a backup.
It is in OP’s best interest to just poke around this site and not get taken even in Colorado.
