OK so I’m currently trying to work out my first lease and I’m trying to understand why my numbers seem so much higher than everybody else here. I’ve asked the dealer for a breakdown of what’s going on, but both dealers I’m working with seem so stingy on the details (seems like a red flag).
Here’s what seems like the best offer so far between the two
Cash down 4234
MSD (x7) 2450
Now, they also want money for a few extras
Door edge guards 50
I plug this all into the calculator and I’m seeing $304 a month (I’m using .0018 for MF, which gets reduced to .00131 after MSDs, closest I could get to MF stated above). Isn’t that MF really high, especially with 7 MSDs? Is my drive off really going to be 8.5k after taxes and fees? Why does it seem like I’m paying so much down and still have such a high payment here compared to other threads on this car?
I’m NC resident, so no state discount…but I should be getting a discount ($1500 I believe) for working at BofA, plus the special BMW is currently running. I thought I’d be able to get this car for cheap since we are nearing the end of the month and it’s a slower seller, but this deal seems like it kind of sucks
I’m pretty sure the MF should be .00087 – actually with the Corporate Fleet discount, not only do you get 1.5k off, but you should also be getting a .0002 MF reduction bringing you to .00067.
That’s a nice discount though – maybe they’re padding the MF to get you that discount? I’m having issues with dealers only offering 2.5-3.5k off, and they’re not at the trim level I want. I’m really hoping the lease numbers drop though when the Bolt comes out.
I think that’s exactly what they are doing, but since this is my first lease I wanted to confirm I’m looking at everything correctly. I ignored this dealer’s reply at first, but they contacted me again. I told them the other dealer I was talking too came in so high I had lost interest in leasing (true story). This is the first offer from this particular dealer, and they claim they wanted to give me their best deal right away (ha, sure) given what I said about the other dealer. They also said that once the month ends they don’t know what the discounts will be yada yada yada they want to close the deal before month end. I think I might be able to use that to my advantage if I set some firm terms.
I think what I’ll do is push for a lower MF, 12k miles, and less down. If I can get them anywhere near the MF you’ve mentioned it seems like this would be a solid deal.
I’m thinking at 1500 down, a final MF of around .001 after discounts, and 12k miles I’ll bite. That should put me at 6k drive off, ~$360 month, 16k total lease cost. I don’t think I want to wait on the impact of the Bolt, but I agree there will likely be some.
Switched to 12k miles 1500 down.
They dropped the MF to .00107
410 a month
I may wait tomorrow out and see if they come back one last time. Can’t decide…
I just put in another post the offer I’m getting on an i3 Rex – slightly more optioned out car with a little less of a discount, but we’re getting numbers that are kinda similar.
If you really want the car, you can put in the credit application to lock in this month’s programs, then wait it out to see if November is better. That way you can hedge in case residuals rise next month or another extra rebate deal comes along. That’s what I’m doing.
Well a quick look on bmwusa.com shows they dumped the $1k option allowance for November 2016, so hopefully you applied for financing before 11/1. Residuals look unchanged. The Corporate Fleet program site hasn’t been updated yet so I’m not sure if any of those discounts have changed.
Residuals stayed the same for 2017 from October. 58% for 10k. 2016 residual dropped off a cliff. 60% for 10k