Hey Could anyone let me know if this is a good deal?
This is all the information that they provided me with, so sorry in advance if I am missing something.
2017 bmw 340i loaner with about 4,400 miles
Msrp: $53,795
Rebate: $3000
Sales Price:46,995
Residual: $33,277 for 24 and 31,664 for 36
MF: 0.00152
Doc fee: $699
Acquisition Fee: $925
They are telling me 36 months is better than 24 months
489 a Month for 0 down just 1st month
429 a Month for 1,773.75 and 1st month
I feel like this is really high was looking to be closer to lower 300’s
10k Miles
36 Months
Could anyone offer any help on this deal to get it lowered or any tips will be greatly appreciated.
I’d say around 20-25% is ideal, but even in the 18-20% range before incentives would represent a good value. This is of course assuming buy rate on the money factor.
If it were me, I’d target a sales price of $43k before incentives, but inclusive of that crazy high doc fee - so a target sales price of $42,300 before doc fee.
This is a terrible deal, especially for a loaner. I’d encourage you to read some of the recent BMW posts on this board and you should be able to get a sense of what would be good.
In order to truly evaluate this deal we would need to know the full MSRP, full selling price before rebates, what incentives are being applied, the money factor, and the adjusted residual. We also need to know how the $2000 is being allocated.
Off the bat, I can tell you that you need to negotiate a much deeper discount.
they are giving me USD 2000 on rebates after which the selling price is 41500
The drive off includes first month and all the other legal fees
the money factor they are using is 0.00172
Also would be very grateful if you can give me an idea what should be the deal I should be looking to goo for this car, as i really liked the car
You should be targeting a sales price before rebates of 20+% off, if possible, though personally I consider 18-20% off to be reasonable if you can get the buy rate. I’d start at a 20% discount from MSRP and buy rate on the lease, which is .00152 all before incentives. They are marking up your money factor here and not compensating with enough discount.
(2) BMW loaner residuals on cars less than 5000 miles are calculated at the new car rate less $0.25/mile over 500 miles. The residuals depend on the term and annual mileage.
So, on a 24/10k lease of a 3 series, the new car residual is 67%. Your loaner car has 4,400 miles (though you need the exact number to get this right). So the approximate residual for a 24/10k lease would be (.67 x 53,795)-((4400-500) x .25) = $35,067.
So now on the website it says that the msrp is 48,742 and so let’s say I talk them down and the money factor stays the same at 0.00152 and the residual 67% because $48,742 x .67 = 32,657.14 and it has 4600 miles so $32,657.14 - (4604-500) x.25 = 31,631.14. So the residual would be 67% correct?
No, the sales guy told me that the msrp is 53,795 but the website says that " Original MSRP: $48,742" and that sales price is “$44,697” so i’m going based off of the 48k one
