We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
Read Leasing 101 (Blog | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
Pick a specific vehicle that you want to target
Gather the current MF, RV and incentives from Edmunds forums for your zip code
Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
Post the incentives you qualify for, money factor and the RV. I will give it a try. That selling price is with incentives or not? Do you know the dealer fee? What’s your tax %?
Interesting. I’m surprised they don’t list those, as that seems like such a ripe opportunity for confusion where as I doubt anyone is really questioning if the M3 counts as an M car. Weird.
When a car has mileage over 500, BMW requires a per mile compensation when you lease it.
If you lease a car with 4100 miles, the first 500 are ignored, but the remaining 3600 miles must be compensated for to BMWFS.
If I have a M3, I would compensate BMWFS for 30 cents per mile over 500, so 3600*.3 = $1080 in compensation to BMWFS, you would have this deducted from your residual.
There certainly are. In addition to the other poster’s comment about getting a bigger discount there’s also a chance you hit certain maintenance schedules you might not have starting at 0 miles, tires have more miles etc (obviously all factors into the reason you want more discount)
@AutoCompanion I signed my M340i lease contract couple weeks ago and it states $0.25 as overage fee and the contract was funded by BMWFS. @spockvr6 has $0.30 on his contract for M235i so it looks like there’s some ambiguity here as to what really is the correct overage charge.
