Hello all I’m new to the forum/ this is my first post. I’ve read through some posts before I decided to post my first lease deal (1st time negotiating one and 1st time buying a lease) that I was presented with yesterday. I ultimately walked away because, like others have mentioned, I tried too hard to get a “unicorn” deal and the sales manager would not discount the M340i beyond 10% pre incentives. After I left I texted the salesmen (loyalty manager?) and he said the sales manager messed up on the MF and they were giving me the best deal possible. I shopped around 3 other BMW dealers in the middle TN area and 2 said the numbers I was quoted weren’t possible lol. Ultimately the 3rd, BMW of Louisville, told me they could get me to the payment I was quoted and get me into an xdrive vs the rwd that I originally looked at. Needless to say, after driving 2.5 hours and being rushed through finance, they lied to me and used the equity from my M3 trade in to get me to that number. Which was not discussed with the salesman over the phone, in fact I was explicitly clear I only wanted to pay the 1st month and DAS. Shout out to the sales manager and the two finance guys who deserve an Oscar for their shocked performance last night. Essentially they acted like the salesman didn’t tell them the structure of the deal, total bs and a waste of over 5hrs driving back n forth. I digress though because I asked for the offer sheet via email and when I was ignored I called and was given a verbal clarification of the deal prior to starting the drive. Live and learn I guess.
But getting back to my original deal; 36/10k, $589 including tax, 1st month DAS, should I have settled?
Please see the calculator details below and let me know if I should try and sign before 3 sep (assuming they honor it) or wait for the new programs.
MSRP: 61,590
Sale: 55,431 (10% off msrp pre incentive)
Rebates: 3,000
Tax: 367.23 (9.75%)
Acq Fee: 925
Doc: 589
Inspection Fee: 0
Business Tax: 20.40
Temp Tag: not listed
Title Fee: 136.75
MSD:0
Term:36/10k
MF: .00057 (only number to get calculator to give me the $589 quoted by dealer)
When I plug .00145 into the MF the payment is higher than what I was presented on the offer sheet. I had to adjust the pre-incentive discount to 14.5 to get a payment of $590, which is still a dollar higher than the offer sheet. So does this make the deal actually really good? Just to clarify, they were getting me into the M340i for $589 with no MSD or money down and cutting me a check for my equity in my trade in…
1 offer sheet was with my trade in equity factored as a down payment on the lease, with their initial 3% discount. I have that sheet. The 2nd sheet where they factored my equity as cash back to me, with their 10% discount was left at the dealer. I’ll post what I have even though it wasn’t their best $589 per month offer.
You need to get the $589 sheet because something is not adding up. They may be using some of your trade to get down to that number. I would ask to take the trade out of the deal and just have them run numbers without the trade and see where you end up.
You can always take your car to carmax or use one of the online vendors…
I am not even going to comment on the additional add-ons…
Yeah I told them I’m not interested in them. They were on the first sheet and I crossed them off the second sheet when I tried to get a little more off the msrp pre incentive.
The 2nd sheet that I forgot to take with me had my equity distributed in the following;
100% down, $2400 down, 0$ down. The payments were like $340 with all of it down, something I can’t recall if I covered fees and 1st payment, and $589 with zero down. Their fees were the same on their second offer sheet… If they reach out to me to see if I’m still interested I’ll see if I can get a sheet from them.
Do these numbers match up with a manual calculation? Looks like they’ve reduced the selling price by thousands, gotten rid of the BS, the MF has gone down - yet your monthly payment went from 695 to 664.
Also your number won’t always line up in the calculator due to dealer tricks. When I leased my X5, the finance people thought I was paying drive offs and first month when the agreed deal was $0 due at signing. I went back to manager and said I’m walking and we ended up at me paying $500 of the due at signing and they covered some $2400 out of pocket. I caved because I loved the car lol
If you look at my lease sheet it seems like I paid it but I didn’t actually pay the full amount.
You may want to reach out to some brokers and see whatsup. @Electric seems to be able to get 12% off new in stock units with base MF in Texas which isn’t that far from you (but it depends on demand/which car). I know you’ve had a bad experience but don’t let that stop you from getting the best deal.
Just to provide an update I have found the M340i that I will pull the trigger on. The MF is .00148 and I don’t think I could get base unless I waited until the end of the month/year. Maybe letting them hold onto a couple points will give me a better standing if I return to lease/buy from them again. What do y’all think?
