NJ
Preface - I am trading in my ‘22 BMW X3 (Lease). Dealership is waiving the remaining 5 monthly payments I have on my lease. ($3830)
The offer sheet is attached. They are telling me I have no equity in my BMW. Down payment does not include 1st month’s payment. Feel like they added a bunch of nonsense charges at the end (Nitro for the tires?!). Walked out when they wouldn’t come down.
Any tips/thoughts? Premium plus, fully loaded.
You do understand that this isn’t what’s happening, right?
This is an awful deal. What are the mileage terms?
Why not take a look at some broker deals in the Marketplace to get an idea of what a decent deal on this car should look like.
That’s why I am asking. I understand they are going to simply buy out the lease and re-sell it.
12k/36mo. Not many marketplace deals for a fully loaded Sportback.
Please re-read my suggestion. What discount off MSRP are brokers offering on the SQ5 Sportback P+?
Roughly 9% (per auto ninjas), which is what they are doing here, with an additional $2500 in rebates.
That’s why I came to ask regarding the additional fees.
they’re cutting a check to BMW FS on your behalf. You’re getting billed dispo + damages (if any) on top.
TBH, 9% off MSRP for a soon-to-be 1 year old SUV on an older platform would be hard pass for me.
What additional fees? The $399 for nitro?
Have you reached out to multiple dealers near you? I am sure you are well aware that the Sportback has a terrible residual value, and hence does not lease well.
Yes, the Nitro and doc fee. They can certainly waive those. Only 1-2 similar spec’d ‘24s in the area, which I am not interested in the colors, etc. I also know the sport backs have bad residuals. Being picky will cost me more $$ without a doubt. I will continue to try and get them down.
Everyone pays a doc fee. Nothing you can do about that. You could ask them to discount the car by an additional $399 (for the nitro). However, the deal will still suck.
If I were in your shoes, I would tell them you will sign this weekend at 14% off MSRP + $2500 in rebates. Add Audicare for a 1% in residual bump. The dealer will probably counter, so be ready for that.
Btw, I checked out some broker deals in the marketplace and noticed a few advertising remaining 2024 SQ5s for at least 12% off, with a few one-off deals at 15%. Although, most were on the regular SQ5s and not the Sportback, I still think you can do better.
Have you driven a Q5 or SQ5? It is not worth an effective $1k/month, even for a fully loaded one, IMO.
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