2018 BMW 540i "Executive Demo" Lease Deal

First time leasing a car and need some help/advice. Dropped by the local BMW dealership and have been negotiating on a 2018 BMW 540i Executive Demo. I feel like I’m missing something, but I can’t put my finger on it. Any advice is greatly appreciated!

2018 BMW 540i Executive Demo
Mileage: 4644
MSRP: $73,335
Discount: $6,900
Rebate: $2,000 (at the time, $1,000 lease credit, $1,000 conquest (or USAA))
Adjusted Price: $64,435

Total Purchase Price: 64,435
Trade Allowance: $14,500
Trade Difference: $49,935
Doc Fee: $698.50
Tax: $104.61
Non Tax Fees: $16.50
Net Price: $51,679.61** ($925 missing from the equation)
Trade Payoff: $13,711.56
Balance: $65,391.17

Lease Terms: 36/12k
MF: 0.00188
Res: 60%

$0 Cash Down: $871/mo
$1,500 Cash Down: $825/mo
$3,000 Cash Down: $780/mo

**I recognize that $925 was added to the Net Price. I let the salesman know I can’t back into their numbers, nor can I figure out where that $925 is coming from. His response was something along the lines of the reason I wasn’t able to back into their numbers was bc the $925 is an acquisition fee that is standard on all BMWs, and it is listed on the original invoice from BMW that they provided. Unless that $925 is somehow printed in invisible ink or on another page that they forgot to give me. …I’m not tracking.

I don’t know if my confusion is from my learning curve or what’s going on. Any/all help is most definitely appreciated.

You putting trade equity into this deal? If yes, its a really bad deal.

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I just leased one of these. Looks like your discount is weak on a demo. See below for example.

$925 is the acquisition fee. No way around this.

Also, this looks terrible but your effective payment is ridiculously high (>$1100) if you take the trade in out of the equation.

I got a 24 month/10K 540i demo for $560 per month with $0 DAS to put things into perspective.

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His trade-in has less than $800 equity, so it isn’t even covering the acq fee.

Agree discount is horrible.

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You’re correct. … thank you!

Thank you for the insight! I’m in AL, about 4 hours away from Gwinnett. I was told, “it’s not mathematically possible” for a 36/12k, $600/mo, $0 DAS. Time for a new dealership.