Backstory: I have been trying to find a lease around $400-500 for a sedan that I would enjoy driving 50-70 miles a day. I am not set on a model but something that can seat 5 and has decent amount of trunk space would be ideal. 530i seems like a good option. I had a 2014 535i before and it was good before I transferred the lease after 18 months to buy an A6.
So I contacted a dealer in Houston. Found a loaner (~2000 miles) and asked for a lease quote.
Their reply:
MSRP: 58700 Selling: 49700 (~15%) without negotiation Fees: Acq - 925, Doc/other - 360 Terms: 36 month / 10,000 MF: 0.00195 Rebates: NONE MSD: None Tax: 6.25% of selling, capped Due at signing: 1st month + 350 fees (assuming this is disposition?)
drum roll please for the monthly: $710
make it 20% off, adding in the 3250 lease cash and MF at 0.00145, this should be roughly $490 per month.
What do you guys think? On to the next dealer? I emailed the current one and shared my concerns about the sale price, MF and missing rebate.
That’s weird that there are no rebates, I thought that it was over 5k because of that. So it seems like the dealer included the rebates in the discount.
This month, there should be $2,250 lease credit and $2,000 loyalty on a 2019 530i.
You should be able to get a much deeper discount off MSRP before incentives. Check the forum for similar recent deals. Folks have reported >15% discount on loaners before incentives.
I have a 911 (thus the username lol) that I don’t want to put too many miles on. It’s a 2014 with 48500 miles now. (about 8800 a year)
My daily driver is a 2004 camry with 223,000 miles that needs some work (wheel bearing, suspension tweaks etc.) So I have been driving the 911 daily and the miles are adding up.
As far as I know, BMW incentives for August are very weak across the board (except on the i3). That’s going to make August BMW lease hacks a lot harder.
I agree with this. IMO older used cars only work if you either daily them or have a special purpose for them (ie a sports car, truck, van that’s only used occasionally or on weekends). AND if you do all your own maintenance/repairs. No reason to carry both a 2019 sedan and a 2005 sedan. The insurance savings alone should pay for 15k on the 5 series.
Ya I definitely want to get rid of the camry once I get a replacement. I am paying only liability on it (around 50-60 a month) but the main purpose of it currently is to keep miles down on the 911 and it also helps with keeping the porsche premium down because of multicar discount.
What I meant earlier about splitting miles was I would split miles between the bmw and the porsche (not the camry and bmw).
If I can’t get a good hack on a bmw, I am also considering a used Lexus GS350. They are around $30K for one that’s 3 years used.
Leases suck in texas because of having to pay sales tax on the entire car.
IMO I would hold out to find a deal/dealer who will throw tax credits at your lease. Otherwise it doesn’t make much sense in Texas to lease vs. buy a reliable used vehicle.
I don’t know what state you are in, but here in Maryland/Virginia you will be at 12-14% off msrp on a loaner before incentives, best case. They will also bump up the mf to 0.00185, and add a $699 (VA) processing fee, $995 acquisition fee, shipping fee $995, county tax (for VA dealers), etc…