Looking to get feedback on a 2018 440i GC Loaner with about ~4500 miles.
We went back and forth a couple times at the dealer and emailing back and forth this week.
I figure that is about $580 if I just put down first months. Which isn’t great when a new one can be had for about $600 (assuming 7% discount, base MF, incentives)
Any thoughts on where I should go with this? I would think incentives should apply since it’s under 5k miles, but they said since it does have miles it messes with the already bad residual on the 4 series.
Does that sale price include the available incentives?
I’d say you should be shooting for a bit more discount. This is a 2018 vs a 2017, so a “unicorn” discount is probably unlikely. That said, this is only a 14.5% discount. I think 18-20% is a good target before incentives.
You should also find out what money factor they are using. Buy rate is .00156.
That’s something I’m trying to figure out, I thought I read if it’s under 5k miles you get the new car incentives:
$3000 Lease
$750 Loyalty
$1000 X2 Drive Event
= $4750
That would leave only a $3k discount? Seems pretty awful if this is how they are calculating it. The prep sheet doesn’t show an incentive line only the discount of $7745
You don’t say where you are so I can’t confirm your incentives. Typically those drive event OL codes don’t apply on loaners or demos.
You should get the following:
(1) sale price before incentives
(2) eligible rebates
(3) money factor
Once you have those you can use the Leasehackr calculator. From there start negotiating the various aspects in your control - namely discount before rebates and making sure you get buy rate on the MF.
MSRP: $57,445
Discount: - $11,445
Incentives: - $3,750
Miles Residual: + $1,000 (Guessing 4k miles lower residual by $1k)
36mo/10k/.00156 MF (t1 credit score)
Taxes/Fees: +$1,000 (SC has max tax of $500)
Estimated Payment: $440 Roughly
He ignored it and said yes they were using a .00196 MF and would split the difference at .00176 as it’s all the profit they had left in the car. Doesn’t really feel like they want to play ball. To confirm things, I was getting incentives ($3750) and about $7k discount (13% ish) off on the original quote.
Seems like they want to stick with a ~$550 monthly.
They won’t budge at $550 with $1500 down, I asked if they changed their mind on things to get back to me. My best bet is probably trying to find a 3 series.
I tried to get a 440i GC a few months ago. My experience was that they don’t really like to play ball with that model. I think the 430i is a more high volume model that may fetch a better discount. The 440i is the same car with only marginally better acceleration and the BMW straight 6 prestige (yes there are a few more standard options on it as well).
My guess is they will wait for someone to payup rather than discount it. I’d assume their thinking is, “If you really are price sensitive you can just go for the 430i.”
Some dealers just don’t play ball at all though. For instance my local dealer tried to sell me a loaner for 5% off msrp. He also had the nerve to tell me to put 3k down payment to make it a great deal. I gave their customer service rep hell when they followed up on why I wasn’t buying anything from them.
I may try calling them again tomorrow or Saturday since it’s the end of the month for a higher discount, I doubt the loaners count toward any bonuses they get though.
