I want to lease a 2018 BMW 540i M Sport in June (target MSRP is $64,000. Would be curious to see by how much more would a $69,000 version be…but that’s really optional).
I want to know, is it possible to be within $640 a month with this $64,000 car (0 down, taxes tags acq fee enrolled into montly payments)?
What kind of numbers should I expect for a 12k miles, 36 month lease when I come to the dealer. 1% of 64,000 by the “1% rule” is 640.
I have seen some dealers post $10,000 off the sticker price for online price, but I have heard from people on forums that they are leasing in the $585-650 a month range with at most 1500 due at signing (I want to do 0 down though, except 1st month payment)
I do not qualify for loyalty, college grad or competetive make etc… Would also be interested in finding out the residual and MF. I do not want to go around 5 dealers without knowing which is the true payment target, or technically the best deal I can get.
Input would really be appreciated! If you had a similar deal on a 2018 BMW 540i or just a 5 series, please please share and include the breakdown if you can.
Anyone who is a BMW manager/dealer from Maryland or Virginia who can make this possible, please pm me!
Just take your number and work backwards from there.
Find the current MF and residual, look at some historical values and see if they have been pretty steady. From there you can figure out your things such as how much discount would be needed to get that target payment. Can assume the $925 accq fee, maybe $300 for dealer fees, and figure out your state taxes, title fees, etc.
Little legwork can help make it feel like it’s reasonable or not.
Currently edmunds shows 60% residual and 0.00156 MF.
So you’d need a sale price of 19% off to make the 1% deal happen without any leasing programs, rebates, incentives factored in.
Most dealers can get down to 10-12% off MSRP on those high margin cars without too much effort ($57k sale price on a $64k car), so will need to hope for either some big incentives totalling an extra $4-5k, or a bigger sale price from the dealer to make a 1% deal happen on a $64k MSRP.
I was looking at local BMW dealers, and most of them have around 2-3 cars which I like. They are advertising from 5,000-12,000 off sticker price, but I think I would be able to do about 20% off?
Because it’s a guessing game. BMW didn’t have 3,000 off the 3 series last year at this time, and nobody could’ve predicted that. To try and guess what lease deals there will be next month, let alone 4 months from now is a waste of time and energy.
No, I am not going to do any swap a lease things. Either new 540i or a service loaner with less than 5k miles. I saw plenty of 540i loaners for sale in my area. Actually, I may do it in may, which is 2 months from now.
Then wait until May and see what programs are being offered at that time. There’s no use looking into it now if you’re not planning on buying this month.
Quick question. Even though I am 20 years old, my credit is over 700. My credit age is 1.5 years, but I have opened various student loans (which are mostly paid off), credit card (pay it in full each month), and have a co-signed auto lease (stable payments past 6+ months).
In May I am looking to lease the BMW. I work as a sales consultant and have almost a year of job history there and a year before at another place (I actually make pretty decent money at my dealer). I have no late payments or derogatory marks on my credit.
Is there a good chance of me getting approved for the lease ($600-700 per month, which should still get me to a DTI of less than 45% if I was taking $1200 rent as a factor + the 700 lease. If no rent is taken in as a consideration which is the case, I would be at 24% DTI with all my monthly payments taken into account including 700 dollar lease). When I put $0 for my rent section on credit application, does the bank still devote a thousand for those expenses?
I live with my family and have no rent payment though.
Can the fact that I am 20 years old play a bad part in this?
If you work at a dealership, why don’t you ask your F+I guys what their thoughts are? They deal with this stuff day in and day out. They would be able to help/guide you in the right direction moreso than a bunch of people on a website that are going to guess.
I mean I see people getting approved with 630 scores and lower income than me. Some don’t have any score at all and 500 down (for loans). One guy who was 18 had 3 car loans open, 600 score, low income, and still got an approval with 0 down.
I tried applying and got denied and I had over 790 credit. However my credit age was only 2 years. They explained to me that credit age is pretty important with BMWFS and so they suggested to have a cosigner with a longer credit age. Idk maybe your situation is different but that’s what has been going on with me
Wow that sucks! Did you open any auto loans, student loans, or other types of loans before (for which you paid stably)? Or was your score just based on credit cards?
