2016 BMW 328d lease- this sounds good, is it?

Hi - I’ve been lurking awhile to help educate myself on the ins & outs of leasing to get the best deal on my next car. Here’s what I’m going for in Oregon:

328d with Cold weather, Drivers Assistance, Lighting, Luxury, Premium, Luxury line, Navigation, & Harmon Kardon Packages. in silver with tan seats and black dash.
MSRP: $54,860

Offer $7k discount
$1k loyalty
$1.5k & 0.0002 MF corporate fleet discount
66% residual
0.00087MF (discount & 7 MSD’s)

My math tells me it will be $351.70/mo with $3575.70 due

The dealer is saying yes, but hasn’t shown it all to me in writing. They also haven’t committed to take my old X1 back without any cost (below miles by a lot, tires at 5mm). They are a few hours away, so I’m not committing until every detail is published.
Any thoughts on the deal or things I should be wary of?
Thanks to the community.
ajds

So this is $2800 MSDs, $351.70 first payment and $425 registration?
FWD?

That’s exactly right.

It looks like all 328 wagons are AWD now.

Push for 15 to 18% discount. Not many people want the diesel.

@ajds
IMO i think the trade-in X1 will be an issue. If there’s any way to get rid of it otherwise (carmax etc) it will be a much cleaner transaction. If you ask for further discount, all they will do is make up for it on the trade in and offer you less on the X1.
It would be a different story if the dealership was local but they will have you cornered knowing that you drove far.

@305Hackr- good point. I’m trying to get them to commit to a 0 cost lease return based on a local pre-inspection. If I can’t get that in writing, I’m out.
The hard part is that nobody has any new 328d wagons anywhere close (except a garish bright red one).
Thanks!

@ajds is the X1 a lease return or are you trying to trade it in?

If it’s a lease return, u can do that at your local BMW dealership, at least in FL.

Here’s what i would do:

  1. finalize your deal on the 328d WITHOUT the X1 lease return. This will give you more bargaining power and prevent the dealership from trying to make money on the lease return once they have you at their dealership. Get the numbers in writing.

  2. If you’ve already done the pre-inspection (mine was done at same dealer i turned the car in) turn the car in, make sure there’s no surprise costs.

  3. get a 1 way car rental or airline ticket and go pick up your car. The extra $100 for the car/flight is a minimal expense and ensures that you don’t get screwed on the X1 trade in when you get there. In the alternative, you can have them ship you the car but it’s most likely going to be more expensive.

Also, if you’re 10% or more below the allowed miles on your X1 (you mentioned you’re way under milage) you will most likely get a $200 credit on your new car’s statement in 1-2 months (if you leased through BMW financial). Was a nice surprise when i turned in my last BMW. Not sure if they still do that but that was the case this past June. You just have to be on top of it, i had to call in a few times to make sure they would apply, i can see that credit fall through the cracks otherwise. On the back side of the paper they gave me when i turned in the lease it showed on the bottom the credit for under milage.

In the alternative, you can actually do the deal via Fedex, meaning you can sign papers etc so the car deal is REALLY final. That will really prevent you from surprises and give you the comfort to turn in your car locally before picking up your car.

All the above is assuming your X1 was a lease, if you own the car the above doesn’t really apply.

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Great advice and help. I have a month to go ($340) and I’m just on the edge with tires ($900). If they can just take it, that’s a better deal than the local dealer.
Getting the terms fedexed down to the lease return is smart too.
Thanks!

Not all dealers allow mailing documents for signature. I tried to do this with Herb Chambers in Boston and they flat out refused. I offered them $1k deposit over the phone and asked to send me all the documents for signing, they flat out refused. Spoke to the GM and he said it’s corporate policy, mentioned fraud protection. They require all parties who are named in the agreement and/or title to be present at signature with valid ID.

Your MF should be .00067 if using fleet and 7 MSDs.

Otherwise looks like a great deal!

If you have time, get the X1 appraised by Carmax, Beepi, etc, just in case they’d be willing to buy it for more than the residual value. It’s not likely since BMW inflates residuals, but it can’t hurt either (especially if you’re under the miles by a lot).

The reason nobody has any 328d wagons is because dealers can’t sell them, not because they are eagerly sought after. So you are actually doing BMW and the dealer a favor buying this car :slight_smile:

@ajds are you saying they’re willing to take the car off your hands now instead of 1 mo from now? If yes, that basically means they’re absorbing your last payment which means they’re willing to do that because there’s a lot more money in the deal. I would suggest you just pay off the lease now for $340 if you’re worried about the tires and turn the car in locally now then negotiate the diesel down a lot more. You should be able to get more than $340 out of negotiating the car further. @vhooloo is right, NOBODY wants a diesel, you should be able to get a bigger discount. Also, as i already mentioned, you might get the $200 back from under milage so it really only cost you $140.

This might also be the case where it’s worth putting something down, simply to get the payment under $350, thus your MSD becomes 7x350 ($2450) rather than 7x400 ($2800).

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Ok- thanks to all for the help on this one. I’m not getting any better on the negotiated price despite the low demand. I’m not sure why- the torque really makes this a fun car to drive.

MSRP: $54,860
36mo/12k
$6074 discount
$1k loyalty
$0.0002 MF corporate fleet discount
68% residual
0.00067MF (discount & 7 MSD’s)
putting down $875, gets me to $349.58/mo with $4119.58 due
Plus taking my car in with no cost (actually 2 payments ($680 & tires ~$900)), and adding winter floor liners ($300) and I should get the credit from BMW for being below miles.
Seems to be about as good as I can get on an AWD wagon for value. (comparing VW, Volvo, Audi, Subaru- all nice, but not great deals to be had).

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350 a month is not bad. if the car has everything you need, go for it.

Seems like a really nice deal - and no maintenance cost!