Hello Good People, I am looking to lease a 430i convertible. Never leased before and I am not sure if this is a terrible deal or a horrible deal. Would really appreciate your help with navigating this leasing process. Thanks for your time and help!!
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Everyone will have different opinions on what a “good” deal is for any given car. At the end of the day, it comes down to how you feel about it. Here are some Lease 101 tips that we’d recommend:
Thanks for the tips!
This deal definitely doesn’t even come close to the 1% test with negotiated price on the vehicle is 52k.
I guess I’ll have to keep looking at other dealership for a better deal.
Move to a strategy of making offers.
Plug the following into the LH calculator after MSRP of the vehicle you’re looking at:
Selling price based on % pre-incentive discount found by searching Shared Deals and Marketplace sections of this forum.
RV, MF and incentives (lease cash) from Edmunds forums. Add any extra rebates you qualify for (college grad, etc) under incentives.
DMV fees and taxes based on your state’s official website.
Voila! Now check the box to make it $0 DAS and offer the resulting monthly payment*
- preferably rounded to a multiple of $5 or $10 to make yourself seem more like a normal person
This car won’t lease well for a while.
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The 1% rule is useless for evaluating if something is a good deal or not. Forget you have ever heard of it and go through the process to evaluate the individual deal.
While the 1% rule doesn’t mean it’s a good deal or not, most here would agree that if you can’t get a lease for around 1%, then that model/brand just doesn’t lease well (Porsche, for example).
Every vehicle I’ve had the last decade (MB, Audi, Toyota, Ford, Subaru) have all been right around 1%…and I’ve included drive offs (none usually except the occasional first month) and 9.5% Los Angeles taxes.
Thanks for your help thus far everyone.
Ran the numbers by through the leasehackr calculator.
With the price of the vehicle at 51720 / MF - .00093 and residual at 57% for a 3 year/36k lease with $3000 down, the monthly payment with tax was $601. The dealer was way off on the initial offer.
As suggested I’ll move to the strategy of making offers and will see what clicks and will keep you guys posted.
In the meanwhile, I would greatly appreciate if y’all could help me with negotiating pointers 
Thanks!
There are countless posts on this forum that break down, in detail, why the whole 1% discussion is a complete waste of time, so I’m not going to drag through it again. The correct answer is to always just evaluate the lease based on the actual deal and not bother with shortcuts that do nothing but mislead people.
Moneyfactor is probably marked up, AN dealers like doing that, find out what MF they are giving and negotiate that to base. You’re also less than 10% pre incentives discount - aim for around 11%. I’d counter with 11% off and base MF or use that as the offer you send to other dealers…or reach out to one of the brokers in the marketplace section.
This car just doesn’t lease that great right now because of RV and low incentives. Keep the email you send simple…I posted my example a little while back. It was 3 sentences.
Can you show me a lease that is well over 1% that is a good deal (I’m excluding exotics like M/AMG and in-demand vehicles like Telluride etc…)?
This is the exact problem. Sweeping generations that then require all kinds of stipulations about when they’re applicable are completely useless. When you have to say things like “well, exclude these cars and these states and only if you have these incentives” makes it a pointless metric. Likewise, there are tons of vehicles where a 1% lease is a horrible deal.
That’s the point
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Hate to break it to you but you’ve probably been overpaying.
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Well tried to work this offer out with a dealer and it didn’t go through. Will try the other dealers in the area and will keep you guys posted!
There is a share your numbers button on the bottom there that works much better than screenshots
What do you do if you can’t get to 1%? Do you move on to a different car? Or do you buy it?
Who says a lease being more or less than 1% means it makes more sense to lease than to buy?
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Do you need this car immediately?
Are you set on the car, or are you shopping for the deal?
That’s what I am not understanding. There is more to wanting/needing a car than the lease to cost percentage.
If you are going to move to a different car only because it doesn’t hit the 1% rule, then you are not putting in any value to the car itself, just the deal.
I am fine with paying more for what I actually need/want if I have too. You are still going to be stuck in a lease for months, there should be some joy in the process.
You’re also assuming that msrp actually maps accurately to the value of the car.
Some brands subsidize up front with a low msrp. Some charge a high msrp and then incentive the purchase/lease heavily. One would have a lease much lower as a percent of msrp, even though there’s no extra value being given. If you’re basing off of msrp, you’re assuming that the msrp is a normalized value.
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