Hey guys, I am a new Hackr and looking for advise on this 330i lease. This is the initial quote he provided me
2019 330i Series - Mileage 992 (not sure if its a loaner, but will be asking the rep)
MSRP - $48,785
Discount - $0 (from the looks of it, I only see a rebate of $2000 - correct me if I am wrong)
Rebate - $2000
Price Including Tax - $46,738.24
Sales Tax - $1,450.01
Doc Fee, Lic&Reg - $283.50
Acquisition Fee - $925
Amount Due at Start - $2,000
MF - 0.00165
RV - 57.74%
Monthly Payment - $639.38
Obviously, this is extremely high and I would not accept this. Also, I told him I wanted zero down, so I’m not sure why he included “amount due at start” of $2,000?
Any help/advise, especially negotiating tips would be greatly appreciated. I know, I’ve seen other hackrs with similar terms as mine lease for around $400 per month. I am shooting for a monthly payment of high 3’s low 4’s with zero down.
This is definitely a loaner if you have the 992 mileage and the weird RV (57.74%). As a result you should be asking for a large amount off MSRP. One way to get an idea how much they’re willing to haggle: Look up the exact VIN on a bunch of different sites like cargurus.com where they show pricing history. From there sometimes you can deduce how much they’re willing to really discount and use that as a starting point. Or if you can’t find the VIN, you should have enough information to find the car itself on the dealer’s site.
@chrishs2000 - I should have included the MF of 0.00007 were from Jeep dealers. I assumed with BMW being a large automotive company, their MF could/would be similar.
The size of BMW relative to FCA has nothing to do with anything. MF and RV is set by each captive lender - often different for each individual vehicle, sometimes even for each vehicle trim level. BMWFS is one of the rare few where MF is the same each month for all vehicles. You can not negotiate below base MF.
@chrishs2000 - Thank you for the explanation regarding the MF, I did not know that.
You said the CarGurus price is meaningless - should I not base the discount off the $45,751? Can you explain your reasoning? Any advice would be appreciated.
Don’t use the FMV, use their pricing history. For example, I’ve seen new BMWs listed at 8k under MSRP, then brought back up to MSRP. You could still see the previous price range at the bottom of the listing though.
I submitted my proposal to the to the dealer this morning
Selling Price: $39,000
MF: .00145
Money Down: Zero, sign and drive, with first month
annnnnd he took $200 off his original selling price - quote “the loaner had limited miles and doesn’t discount well.” The new monthly payment dropped to $632.87
Honestly I’m surprised that he even responded to a 20% discount offer. If you want to hack a BMW you’re going to need to cast an extremely wide net and be prepared for a lot of rejection and disappointment.
Not on a BMW, buy rate for super elite is .00145 across the board.
Don’t waste time with these jokers as that offer is beyond laughable. Different market but even our “stonewall” dealers in TX wouldn’t try to be this cheeky.
Asking 20% before incentive on sub 1K demo/loaner is just as cheeky and I’d bet money this counteroffer is the equivalent of a horse swatting it’s tail at a fly. It’s a “F off” all the way and they obviously don’t want OP’s business.
Thanks @dmitry for the negotiating tips. Should I have not been so straight forward with my offer? I see people getting 15%-20% off loaners on this forum often. I assumed people off the bat offered the dealers 15%-20% and they negotiated down from there?
No problem. Many deals here are idealistic and unreachable for most dealerships. You have to understand that people here post the best deals they found across entire US (some of which really make me think if they were made up, or tweaked to look better). You can try either way, but you have to be reasonable. I would always try closer to the end of the month, when dealers need to make sales. That increase the chances of getting good deals.
