The last few cars I have had were lease takeovers, I hate dealing with dealers but I am realizing why lease a used car when I might be able to get a better deal for a new one.
I am located in Northern California and I am looking to lease a car anytime between now and the end of the year.
I am looking to lease the following 2016 BMW 328i 10k miles and I had a few questions.
I am seeing a $1,500 option allowance does anyone know how that works?
I believe I qualify for BMW Loyalty because I had someone takeover my last BMW lease in July.
Does anyone know the MF and RV for this month?
Is it true that generally I can get the best deal on price right before the end of year as in the last few days of December?
There are a couple of things to consider, but I think it might be better doing things sooner rather than later. Everyone is trying to offload their '16 328i models, thus they’ll blatantly advertise things like $6000 off (could be more if you ask around). However, I would start by seeing what sort of discount is available on a '17 330i, if it’s not that dissimilar to a 328, you might be better off going that route. I see no reason why a 340i would be any better later rather than now.
The option allowance is applied automatically. Dealers will usually include it in their price, so keep that in mind.
MF is .00136 and the residual for 36/10k can be found in the fine print of the lease offers section of bmwusa.com (divide the purchase option price by the MSRP).
Bmw loyalty is valid 6 months after your last payment I think. I do not know if December 31st is going to be the best time to buy a car but it does not hurt to do your research now. I think the December 31st car shopping spree is generally geared towards the tax crowd and they buy heavy duty “business” vehicles that they can depreciate by 25%
Thank you for the responses, this is super helpful. I will update as I reach out to dealers. I came across a few cars. One of them says demo which is a little confusing since they do not list the milage.
Update I contacted the dealer, I came across a 2016 BMW 328i with the Drivers Assistance Package that is labeled a demo and I was told it is the car in stock to represent the model.
The car has 50 miles, and since I am assuming it has been sitting on their lot for awhile, what is a reasonable % of the MSRP to target?
50 miles is not really a demo, but either way its not going to affect the lease. I have seen a flat $7k off 3 series, so that is a good place to start.
When a dealer offers $3,000 discount from MSRP, that means $1,500 dealer discount is already included in that price.
I don’t know if that means it’s easier for buyers to get the better deals.
I got 2016 320i last month with 16% discount from MSRP (including $1500 dealer cash that you mentioned).
At this time of the year, I think 10% is a reasonable price to start negotiating.
If you have a multiple BWM dealership around you, I would definitely go for 15% or more.
So I pulled the trigger today at San Francisco BMW here is how it worked out. Let me know how you think I did. I had them roll the $925 acquisition cost into the monthly payment.
When I was there she had a list of cars with the number of days on the lot. I used that in order to determine which cars had been there the longest. I have read on this forum that most dealers will tell you if you ask. Good luck!
