I am in SoCal.
Until the tesla model 3 comes out, we are looking for a cheap 24 months lease on a BMW 3 series with drivers convenience package at a minimum. We would put 0 down (security deposit ok), and get a 24/15k mile lease. I am hoping to pay $300 a month after CA taxes at most. We could consider a 320i if that helps.
Do you guys have any recommendation on pricing? So far I have received quotes up to $8,500 below MSRP. Cars are 10 to 12 months old and often have 5k to 7k miles and are 10 to 12 months old. Honestly considering how many demo cars I can find (well over a 100 in a 25 mile radius), I was hoping for a better discount.
Also what are the risks leasing demo cars? My understanding is that they will be covered by the warranty (24 month lease) and that maintenance will be free. Also my understanding is that any mile over 500 will reduce the residual value by 25 cents.
Leasing a BMW demo is a great way to go. We currently are leasing a 535i executive demo. No worries about maintenance as it’s the same warranty as new and it’s easy to get a greatly reduced cap cost. Ours listed for 62k and the cap cost, with 7k miles on it was 48k. We are leasing a 535 for 328 $$. You should head over to bimmerfest and check out the ask a dealer forum. All kinds of info on demos. One of many threads:
I emailed Greg Poland and waiting for his response.
Any other dealer recommended in SoCal? The most I seem to be able to get is $9.5k off MSRP. With the mileage adjustment (7k miles) that means more like $7.7k off MSRP which would put my monthly payment close to $400 a month (car MSRP is $44.5k). That seems expensive to me for car with many miles that has been sitting in the lot for 4 months.
I read about several folks here getting $10 - $12k off MSRP… I just can’t find anything like that.
I am also open to the 320i, will consider GT or SW.