i4 eDrive35 Base Model | $421/month | $5000 down!
Monthly Payment: $421
Down Payment (total incl everything): $5000
Color: White
Interior: Beige
Additional Costs: Shipping from CA to WA: $900 (Due to most dealerships upselling in WA)
Thoughts: I believe I secured a good deal. Let me know your feedback!
Tags: bmw, wa
Why did you put $5,000 down?
We need more details like MSRP, discount, etc. to determine if this was a good deal.
On the surface doesn’t sound bad
I gave $5000 to have the monthly close to $400. The MSRP was $54k and discount was around $6800 and add another $7500 for credit.
FYI
I reached out to you multiple times over last year and every single broker including AutoCompanion, IAC and other refused to give me any deal for WA. Everyone said all their deals are for CA only!
This dealer gave me the deal with WA delivered…no one even came close or even comited so I think I have a steal here.
To be fair, the only car I see that you reached out about was an Altima, and our Nissan dealerships generally do not service Washington. We did, however, tell you that shipping would be pricey and provided a quote.
That $5,000 will be lost if anything happens to the car, so whether you wanted the payment near $400 or not, that’s something to consider.
I understand, I did roll the dice there. I am still confused why 95% of all the dealerships and broker never want to work with anyone from WA.
I struggled a lot with that, it wasn’t even a starting point for anyone, straight up NO.
You should generally not put down money on a lease because if you total the car, all that money is gone. I know that mentally people want to see a certain amount, but imagine losing the down payment if something happens to the car.
Roughly $560/month effectively. Based on base mode I assume MSRP is roughly 53k.
Oh no. They got you too. 
This total loss argument is a bit silly in the current environment where many leases have an underlying interest rate of 8% or higher.
The risk of total loss (-100%) for a new vehicle and thus the down payment in the first 4 years is 2%. On the other hand the risk of paying additional interest (+8%) on the down payment is 98% (guaranteed unless the vehicle is a loss).
The main reason to put close to no money down is the attractive lease APR - there are still some companies leasing at 3% which is free money right now.
I also hope all the people who are doing gigantic MSDs take this into account. That money could be chilling in a savings CD at 5%.
Exactly.
Plus the amount at risk is never 100% of what you put down, because your first payment, due at signing, is lower, as is every payment from that point forward.
So on a 36-month lease you’ve recouped 3/36, or 8.3% of it before you even leave the dealership.
And you recoup 8.3% more of it every month until you’ve gotten it all back by month 35.
I argue a lot with the Flat Earthers over this matter.
The 5% chilling in a CD is actually only 2.5% after taxes for me.
Which happens to be the MF on my i4 after MSDs
