Located in NJ.
Offer is:
MSRP of $51,700
$4,800 down (includes all fees, costs, first months payment)
$500 a month for 36 months
Hows it look?
Too much down. Why not opt in for MSD?
What is the sale price?
What is the money factor?
How many miles/yr?
Assuming 10k miles/yr, it would have a 61% residual. There is also $1500 lease cash. So working backwards, it seems like they are only doing 5-6% off, which isn’t that great.
And that is way too much money as cap reduction. You may as well do MSDs if you are going to throw that much money upfront.
I think you can do better
10k miles; I went to another BMW dealership today to see if they could do better and they couldn’t. The finance manager, who i spoke to directly, told me he couldn’t even match the price on a similar 430 xi they had. He said they took off about $3,000. Im not so sure where you guys get your knowledge or information from. Im putting $4800 down which includes fees, taxes, etc. The MSRP is also $50,710. I made an error in my first post.
Hardcore guys have no problem even going to other states to get their Bimmers if it means saving real money and getting the vehicle they want.
You can broaden your horizons and look at more than just two offers from the dealers you have communicated with or you can keep your work to a minimum and go with the better of the two, accept that you’re probably not making the best deal for your interests, but be happy that you got the vehicle you wanted.
Keep in mind this is leasehackr, the whole idea is that guys are getting the cars they want with the terms they want, and that usually includes not having to put $4000 down just to get a $500 payment on a 50K vehicle.
Good luck with your efforts.
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We’re getting our information from other guys who have gotten good to great deals on their cars and we compare it constantly in an effort to determine what a “good deal” really is on this forum.
Also, I personally got a new lease recently on a $60,000 MSRP car for $545/mo incl taxes , $0 down , just MSD and drive offs. Yours is $500/mo on a $50k MSRP, so that leads me to believe you can do better than $500/mo.
You have only 2 choices when leasing/buying a new car:
- Get the lowest possible price/payment on the car you want (by doing a lot of research and legwork - this is how you can a really awesome deal!)
Or
- Get the car you want fast without a lot of research and legwork ( you won’t have to call more than a 2-3 dealers and you won’t have to spend hours researching–you won’t get the lowest possible price)
You cannot have 1 & 2. Pick one.
Imo, if time is of the essence and you make $200/hour at a job/business – I’d just pick option 2 , granted there really is no “down” time for you and opportunity cost is a legitimate concern.
However, if you have free time and there’s no opportunity cost, you will save yourself thousands of dollars by choosing option 1
The choice you make can only be made by you alone.
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It’s not about asking other dealers if they can “do better,” it’s about finding all of the relevant figures and looking at them to see where specifically there is room for improvement.
The money factor is one of the easiest ways your dealership can make money on leases, so definitely find out what it is.
Does the $3000 off MSRP include the $1500 option allowance BMW is offering? The experts on the edmunds forums, who do this all day every day, say that 7% off for BMWs is reasonable. I would shoot for higher than that (say $4k off) because this allows some room for them to counter and you should end up at around 7% off MSRP. Then the $1500 option allowance from BMW should be added on top of that dealer discount.
And again, you are putting way too much money down. It artificially lowers your monthly cost, so it feels like a good deal even when it’s not. This is why refundable MSDs are a better option.
here is the first problem with your deal.
they don’t make the 428 for 2017.
if you are shopping a 428 it has to be a 2016!
for 2017 its a 430.