Hi all,
thanks to all I learned in this forum, plus some critical help from one of the members here (Loberant) who works for SonicAutomotive, I was able to get the following deal on an BMW 535i - executive demo.
It beats the 1% rule by a lot, but it also isn’t “new”…
This car had 11.5k miles, but was untagged, meaning BMW leases it just as new, except for:
- penalty for the miles it has above 500
- the 4 year warranty started counting in 3/2016 ( I assume when the original driver started using it) and the 50k miles isn’t changed . Both don’t affect me as I leased it for 36 months , 10k per year.
The deal:
BMW 535i
Options:
- Luxury line
- Driver assistance package
- Premium package
- Cold Weather package
- Smartphone Integration
Untagged with 11.521 miles
36 months, 10k miles/year lease.
MSRP : $64,420
Selling price: $47,684
BMW Assignment fee: $925
Capitalized cots: $48,609
Base Residual: 63%
High Mileage Adjustment: $2,611.50
Residual Value: $37,829.35
MF: .00134, reduced to 0.00085 by using 7 MSDs
Monthly payment: $372.90
W/ Florida Tax (6%): $399.00
On signing I only had to pay:
- dealer fee: $699 - yes, pretty bad, but normal here in Florida
- the MSD’s: $2800
- First Month: $399
- DMV plus a few small fees (battery, tires, etc)
It has the standard $350 disposition fee if I do not purchase the car at the end of the lease.
I found this car in a list Loberant posted a few weeks ago. I only contacted him 3 days ago.It was great dealing with him, as all my previous contacts with dealers where always a pain… Too much time, them trying to steer you towards a new car or even not knowing about leasing demo cars… With him there was no BS. Quick, knowledgeable, base money factors… He voluntarily reduced the original sales price not to include the extra CPO warranty (which I will not need as my lease will end before the original BMW warranty expires) plus, when the monthly payment came out at $400.70 and I proposed to pay a few dollars of downpayment to keep the MSDs at $400, he took those extra dollars himself from the selling price.
Regarding not being new, this is my 5th BMW lease (first here in the US), all the previous ones were brand new, and I cannot see anything different, other than a bluetooth device from the previous driver being listed. The car was handed to me in perfect condition!
I hope this helps other forum users on what is possible. I learned SO much here! Thank you so much to all the posters who have been sharing their knowledge.
