2018 340i w/ M-Sport Exec Demo Lease. $2k down, $462/mo incl 10.5% tax. Good deal?

Ask the Hackrs
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1

First time leasing, first time posting.

Is this a good deal?

2018 340i (Premium pkg, m sport, drivers assist)
This is an exec demo car with 3664mi.

MSRP: $57,745
Negotiated Price: $49,800 (13.35% off MSRP)
Net Cap Cost: $42,514.32
Acquisition fee: $925
Doc fee: $80
License fee: $15
Residual Value: 67%
Money Factor: 0.00166
Down Payment: $2000
24-month lease, 10k miles
Monthly: $462 incl 10.5% tax

Discounts: Loyalty + Costco

If I can’t swing loyalty, its an added $1000.

Thanks for the help.

2

Not enough discount, the miles cost about $800 on the residual. You could probably find an aggressive dealer that could get close on a new one. Shoot for 20% off.

3

~13% off is not good for a used car. You should be getting 18-20%.

4

Thanks for the tip. I’ll see what they say.

5

36 month lease will be cheaper.

6

Perhaps the monthly will be cheaper, but there is still meat on the bone for the entire deal. If he gets 18% off, 24 should look more attractive than 36.

7

Is that down payment or total drive offs? It’s pretty expensive given it is a 340 You can get 330 for low $300 a month

8

Lease%20Terms
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The sheet I was given for anyone interested.

When asked, I was told that total drive off is $2000 or whatever the down payment is.

They said for this deal, the 24m is cheaper and 36m worked out to be more expensive.

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I worked out these numbers based on what the rep told me initially, but now they’re saying “24/m every 1000 is $50, 36/m every 1000 is $30” which confuses me even more.

9

$1,000/24 & $1,000/36

10

That deal sheet show $4995 DAS, terrible deal.

11

Normally this would be right for a normal 330i or 320i. However, this is the 340, which is very rare in demo form. I’d say 15-18% should be the target unless the dealer is really bleeding.

12

If that’s the case I’d look for quotes on new ones too, especially one that has been in stock awhile. If you could get 10% off on a new one and not take the ding on the residual for the miles, I would think the payment would be close.