No, this would be $1000 off msrp, so $300 less than their $700 list price (assuming they aren’t factoring the incentive into their list price, which they probably actually are).
Honestly, this deal is absolutely atrocious. If that’s their opening offer on a demo, you’ll never close the gap with them to get where you should be. Walk away, sort out what a good deal actually is, and after you know what you should be paying, then re-engage other dealers. This dealer has demonstrated they have no interest in doing business with you.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
Read Leasing 101 (EDITORIAL | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
Pick a specific vehicle that you want to target
Gather the current MF, RV and incentives from Edmunds forums for your zip code
Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
Go to the broker listings on this website and look at the BMW tagged ones. There are a few who work in the Midwest. You could also look at BMW of Des Moines - I almost closed a good deal and they were going to drive the car to me here in KC.
that’s their listing, They had other 2021 540s, and 530s as loaners with 7k in savings… this one has similar miles, but hardly any savings, not sure why. I sent an email to ask and they said:
“2020 models have bigger discounts due to being older inventory and they do not lease well because of the residual difference which is why they’re discounted more. Some of our vehicles listed online have built in finance rebates/incentives that not everybody qualifies for and can be misleading.
The 2021 model you and your wife drove today has a $500 lease rebates off the MSRP and we will take an additional $1,000 off to make up for the mileage.”
also, I see in the fine print, that they have 1500 in lease credit… sneaky?
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.
All I can do is submit my offer,
Do I need to submit all the parameters in the lease calculator including the MF, RV, terms, payment, etc… or just offer them what I want the selling price to be before incentives?
Thanks
You don’t need to give them MF RV numbers - just make an offer (net cap cost).
Make sure you factor in the miles depreciation for a USED car price - never go off MSRP as it was new - it’s not - already titled by the dealership making it USED…
