Hey everyone looking at a 540i X Drive in Northern NJ. The vehicle is priced at msrp with packages which I dont really mind (Broker buddy tried to close a deal for me but everyone wanted 5k over unless I ordered a build.) BMW Financial capped me out at 90% (Eliter Tier 740 Score) because I have a thin credit profile with no auto history. Im 26 this is my first lease, just making sure im not an idiot for paying so much to drive off, this makes sense to me as long as I dont total the car. All the info is below and I included screen shots from my sales guy. Thanks Hackrs!
BMW 540i X DRIVE
36 Months/15,000 Miles
Base Payment: $813.71
Cost @ MSRP $68,155.00
BMW asking $9242.32 down as cap red
Money Factor .00161 (3.86%)
Residual 56% $38,166
Taxes $2,422.38 @ 6.625%
Bmw Acquisition Fee rolled in (bad?)
Capped @ 90% Value
Cap Red $9242.32 Upfront
First Month Upfront $813.71 (Lease Change -$170.15)
Gov $583.12 Upfront
Doc $599.85 Upfront
Total Due On Delivery/Drive Off: $11,239.00
Total Payments $29,293.56
Probably not a good option for your first lease. Can’t get around the cap cost reduction if that’s being dictated by BMW. If you want it that badly, that’s the price to pay. But geez… hard pass.
Also, you should look at what incentives you can get or qualify for if you set on a BMW.
You are crazy to even consider this. $1100 a month for a meh 540. Have you considered taking over an existing lease? I am sure you could could get an M550i for similar effective if not better. I am sure your credit would still be an issue but I’d rather be in an M550 than 540i for $1100. Best advice is to walk and come back to BMW later in life.
True but with almost 10k DAS he can almost pay up front for a 12 month remaining lease. Again everything is iffy when credit is the issue, was just suggesting possible alternatives.
Fully marked up MF with no discount would be a deal breaker as it is.
I’d look into leasing something else for a few years, the G30 just doesn’t lease well right now because of low inventory and incentives. I’m paying $580 for a 12k on a 70k MSRP I got in Jan, drive offs DAS.
At the very least, if you have your heart set on a G30, go to a different dealer, one that won’t mark up the MF on a MSRP deal.
The dealership is working with BMW’s guidelines based on your credit to get this done (I don’t think the dealer is trying to take advantage), but I would never, ever, ever sign this deal, or any variation. Even if the trunk had organs I desperately needed in a cooler, no way.
Once you sign, you are married to this mistake for the term, and you best read the entire lease contract to understand what happens if you total this thing.
You’re on the wrong car, and probably the wrong brand.
@OrtizJose1114 - I believe you have enough feedback. However, if you really want a BMW, have you considered a 330i? I know it is a much smaller car and less powerful than the 540i. If you could get approved with $0 cap cost reduction, then that might be the way to go. Just depends on what the overall deal on a 330i looks like in this current market.
Paying $9k+ as a down payment on a lease is a terrible idea, IMO. Don’t do it.
I don’t disagree with you. Calling it rape is a stretch though. You gotta pay to play when there aren’t any subvented programs and supply/demand pressures result in an MSRP deal.
About the only thing that is not bad about this deal.