Got this quote from a local BMW dealership here in Los Angeles, went over to Reddit and posted this up, and they sht all over me. One of them did point me to Leasehacker, and so here I am doing research, but damned if I can find a 2024 740i lease over here. Meanwhile, can’t swing a dead cat without getting sub $1K EV BMW deals.
Trading in a car valued at $11K.
Someone far smarter than me will comment on this (I hope). If you haven’t read leasing 101 you should.
#1) General accepeted rule to never put any money down on a lease.
#2) Seperate your transactions-treat your vehicle trade in (11k) as a seperate and evaluate the lease from that perspective.
#3) Looks like there giving you 5k off-I would search the marketplace to see what similar deals you can find and use that as guidance for your lease payment.
MSRP: car value
Selling price: what the dealership is giving you off prior to any incentives you may qualify for:
Incentives: regional dependent-become a super supporter/go to edmunds to find them
New selling price
MF aka APR: can be marked up so become a super supporter and check rate findr or search on edmunds to see what it should be.
RV: non-negotiable-set by bank.
-I always use what brokers/dealers are advertising as a guidance for the payment I am looking for. GL!
I have a dealership in NorCal with a 2024 740 left. There’s nothing left in SoCal.
Brokers in the Marketplace are offering ~10% off and there’s 10k lease cash/incentives on top of that if you have loyalty or conquest. Whatever you do don’t put all of your 11k equity towards the new lease, treat them separately and make sure 11k is actually a good offer by getting online quotes.
The best place to start is
Please read links in there such as “how to calculate payments” and other helpful articles.
It might seem like a lot but TBH there are fewer <60 minute exercises which will save you so much time, money and anxiety over your driving lifetime.
It may also save you (after your negotiations with LH input) inside the finance office where no one can from the internet can really help you.
Remember, it’s almost impossible to reverse-engineer the math starting from the output (monthly payment) and figure out if it’s a good deal. Start at the beginning.
I can do better on a 2025. 949-775-1714.
Asking a dealer for a quote almost always results in subpar offers, which is why we never recommend shopping this way.
If you don’t want to spend the time and energy (no judgment) researching market price and how to effectively make offers, hire a broker to get you an aggressive deal.
$2.000 / month effective is absurd.
Ooof don’t forget the trade equity. We’re looking at ~$1,825 effective on this. OP definitely take the great advice here and/or reach out to one of the brokers above.
Oh dear god, it’s much worse than I noticed
As others have said, it’s a bad deal. No matter the drivetrain, OP, as you would get hosed on an i7 deal as well with your approach.
Check CarMax and caravana don’t just trade your car in. I got quated 10500 by bmw and 8800 by Mercedes and carmax gave me 12600.
I’ll tell ya what, Hulk. I got a 10.8 offer from Carvana, but CarMax just gave me a 13.7K offer, and I completely forgot they existed. We’ll see, but thank you!
Great to hear!
15%! I posted a brand-new one at 15% off, albeit with a marked up MF, but that’s still 13% off a new car. The 2024 has $3,000 more in lease cash than the 2025 does, too. I haven’t heard from OP yet, though.
I’m guessing this is from another post? I don’t remember getting an offer from you as it looks like your from Norcal?
I don’t think you inquired with me at all.
You have to find and inquire with brokers in the Marketplace I think she is referring to a deal in her broker thread.
The point for @ShanghaiSix is that I have one available at a steep discount.
