2022 bmw x4 i30

Ask the Hackrs
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Hey,

Went to BMW dealer for a 2022 X4 xdrivei30 I will be ordering MRSP 56,800. 2k down 4300 drive off after fees, $845 a month. Top their credit rating.

I love the car but I know nothing about a lease this will be my first one ever.

Should I finance with %1.79 interest for 48 months for $1200 a month?

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If you lease, you spend 34k to drive a 56k car for 36 months. You won’t get anything back - you just rented the car. What does the deal look like, discount, etc. did you do any research on the money factor, rv?

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No, I didn’t I will call the dealer to get details.

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Lets break this out for the sake of simplicity.

You have a large bag of candy.

Would you ask a child if he/she would like a piece or two, or leave the choice of taking the entire bag?

You’ve asked the child (dealership) if the entire bag of candy is preferred.

At a glance, these numbers seem high for this vehicle. You have to do your research and TELL the dealer what you are willing to pay. Edmunds forum is a great place to receive residual value, money factor, etc. You’ll be eaten alive if you walk into a dealer (as you had done) with no knowledge or any sort of defense.

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Thank you, I honestly compared lease payment vs finance payment. I ended up on this forum and realized I made a wrong decision.

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You talk numbers with the dealer to find someone willing to do your deal, not to ask them how much they want you to pay.

You should work out all the numbers independently of talking to the dealer.

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.

  1. Read Leasing 101 (EDITORIAL | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!! While you’re at it, be sure to watch the LH video (https://www.youtube.com/watch?v=jjgvLxqcLfA) to brush up on how to most efficiently use the resources here.
  2. Pick a specific vehicle that you want to target
  3. Gather the current MF, RV and incentives from the LH Calculator - Lease Program Query or Edmunds forums for your zip code
  4. 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?
  5. Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
  6. 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.

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What’s your target deal?

Hint: it doesn’t contain that mf

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Money factor is 0.00163

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No, it isn’t. That’s the inflated mf the dealer is charging but it isnt buy rate from bmw. This is why you need to follow the instructions to make a target deal before talking to the dealer.

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But you really built a nice car! ( Love the subtle salesman attempt to tip you over the finish line)

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