2018 BMW X3 M40i Executive Loaner - Good deal?

Ask the Hackrs
1

Hello,

First time on the thread and I am in the process of buying a new M40i that was an executive loaner. From what I understand, MN is a tough market to negotiate and the dealer is unwilling to go lower on the MF and says they have their best price on the vehicle. Please advise, first time lessee and feel like all efforts to negotiate have been ignored…

MSRP $62,570
Sale Price $55,900 (-$6,670 or 10.7% off)
Rebates $1,500 (500 Costco + 1000 conquest)
MF .00206
Lease 10k miles @ 36 mos
Residual $36,088
Residual 57.7% (they reduced it by .25 per mile)
Mileage 3811
Cash down $4000
Payment $683

Added Features: Parking Assistance, Premium Package, Harmon Kardon, Apple Car Play (pano roof and other options are standard on the M40)

2

Jacked up MF AND $4000 down?

Nearly $800 a month for a used x3.

Is it worth it to you?

I’ll be nice, tell that dealer no thanks. Look out of state. A single plane ticket or shipping will save you thousands

1 Like
3

Terrible, search the forum

4

I was gunna say that $683 didn’t seem that bad a deal considering the awful X3 M40 deals I’ve seen but then I saw the $4k down. NOOOOOPE.

5

The MF is frustrating, as they are unwilling to negotiate (Minneapolis is a tough market, there is little competition). A dealer in So.Cal gave me a great offer on basically the same car with the MF at the buy rate. Challenge is all in with shipping, it ended up being higher per month with the same cash outlay.

Note: payment is $683 not $800

6

No, it isn’t because you’re not accounting for the $4000 cash down.

7

Also, what would constitute a “good deal” knowing MF is not negotiable in this market? Total discount off MSRP is 13% ($8,200)

8

Note: My preference is to put down 4000 instead of 2500 to keep payment below $700. All other factors considered, can you be more specific?

9

You choosing to put ANY money down is a bad idea, but regardless you need to look at your payment with $0 down to calculate your actual monthly payment they’re offering you. The other person was correct in stating your actual payment, with the $4000 added in and annualized over the lease term.

1 Like
10

Why? Have you researched leasing? You should never, never put money down. Some will say, if you put down money, you should only put down drive offs, but I’d argue that’s still too much. Your total outlay over the lease is the same regardless. It’s purely psychological that you’re getting “under $x/month.”

Don’t put money down!

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11

You’re paying $186/mo alone on interests. I’m sure there are plenty of better car for less money out there. I’d skip this one.

12

Depends…”better cars” is highly subjective.

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13

Discount needs to be double, although doesn’t sound like this dealer would go for that

14

You can do a lot better. Run away.

Have a 2019 X3 M40i and love it though!

15

you’re better off paying $1000 for shipping (which equates to about $30/mo extra on your payment if you divided it out over 36 mo) and get a car from a competitive dealer.

1 Like
16

What dealership are you seeing this at? Im in MN and in the market for one as well around dec…i hadnt seen any x3 m40is as loaners for sale.

17

Don’t complain about your area dealers if they don’t want to play ball.

Look elsewhere and fly and drive or ship. That’s the beauty of living in a country that spans an entire continent. From sea to shining sea.

18

Terrible deal my friend. I understand your pain; I am in Michigan and have done my research in dealers in MN, IN, IL, OH and MI to no avail.

19

Yep…my first lease was from LA, 2nd from NJ…and i live in MN :stuck_out_tongue:

20

That’s very very high MF, 10% off on a used car, you can do much better.