Was working on finding a deal for myself and my brother and put a deposit on two cars today, for pickup next week. The dealer was willing to work with us because we were getting two cars. Wanted to post this to see if my lease numbers are correct, as I negotiated “Sale price before all incentives” so that I could compare apples to apples across dealers. I will be finalizing the sale next week!
Both are 2017 “service loaners” that have low miles.
330i ePerformance:
MSRP: $56,235
Sale Price before incentives: $45,500
Residual Mileage Reduction: $338 (for miles on car)
Tax Rate: 9%
Term: 24 months - 12k
Residual: 65%
RESIDUAL VALUE $36,215
Incentives: 750 loyalty, 1000 college grad, 3000 build out cash (holiday?) and 3000 eperformance credit — TOTAL: $7750 My calculated lease payment: $197.56/mo
330i GT MSport:
MSRP: $53,090.00
Sale Price before incentives: $39,500
Residual Mileage Reduction: $952 (for miles on car)
Tax Rate: 9%
Term: 24 months - 15k
Residual: 64%
RESIDUAL VALUE $33,026
Incentives: 750 loyalty, 1000 college grad, 3000 build out cash (holiday?) TOTAL: $4750 My calculated lease payment: $195.85/mo
The dealer also agreed to throw in all weather mats for both cars. The pricing above assumes I will pay all lease fees upfront, which would include the bank fee, dealer fees, tax, title, tags, etc…
Is my lease math correct and would this be a good deal? I am also assuming that my residual values and numbers on MF rates are correct (based on my research).
I’ve bought from this dealer in the past and had a good experience. In discussions with my CA, I was clear that I understood buying and leasing and that I wanted to negotiate a vehicle sale price prior to any incentives before I made a buy/lease decision. Knowing that I wanted both vehicles under 200/mo, I went in for a sales price that would lease out to the numbers I was seeking. The lease calculations were done by me and not the dealer, so I wanted to come here to doublecheck my math! I will be finalizing details on Monday.
These vehicles were on the lot a long time, so I believe they want to move them.
I inquired about a 3 series loaner from this same dealer (I recognize the MSRPs) and was told the online price included the 3k rebate. Dropped the price some more but not as willing to negotiate
This is your math correct? not the dealers. Many dealers include the 3k cash in the sales price. I’d get numbers from them before jumping too far ahead.
Any reason why you need the payment to be below $200 and want to pay all the fees upfront? Personally, I like as close to true $0 sign and drive as possible. Just like down payments, if you were to total the car, I’m pretty sure you lose all that money.
These numbers look really good but not impossible based on what I saw last month. Adding the loyalty and and grad incentives and paying all taxes and fees up front drops the payment a lot. To give another data point, my deal from December 27 would have been $115/month on a $56,330 MSRP 330i xDrive ($160/month with 12k/year) if I had qualified for $1,750 in loyalty and grad rebates and paid the acquisition fee, dealer fees, registration, and taxes, but the total drive off then would have been more than $3k:
As @Jon and @nyclife, think about rolling all of those taxes and fees in so you don’t lose the money if you total the car. Also, have you confirmed that your dealer will use you the buy-rate MF along with those selling prices? Most BMW dealers I’ve dealt with usually mark it up by .0004.
Those numbers probably won’t work out. Don’t forget that BMW pulls lease support for prior year cars. The MF and residual may be different unless dealer actually confirmed.
I got a quote on that GT from the same dealership about a week and a half ago and they offered $399 with $1500 drive off, tax rate 7.25. However, I didn’t have the extra 1750 in loyalty/college that you have so maybe it’d be around $350? If you can get to $200 that would be amazing. I believe the $1500 included 1st month and fees, and about 400 in ccr.
