I’m looking for some guidance leasing an M240i. I can find about 3 in california/arizona that meet my requirements for manual transmission, sunroof, HK audio. MSRP on these ranges $52,670 - $59,795
Reading around the 2 series forums I see reports of monthly payments in the mid $500. I am talking to one dealership, and after some negotiation on removing their built in fees for window tint and gps tracking, their quote to me is this:
MF was .00118 and a 36 month residual is 52%. I’m aware this is a bad deal… I’m looking for some advice on how to achieve monthly payments closer to $500. I see on here that cars will be discounted 20% off MSRP, is this really viable for me?
Ideally someone could help me set up the Leasehackr Calculator where I could plug in the MSRP of the vehicle I want and find what a good monthly payment is. I may go for the high spec one at $59,795 MSRP but before reaching out I want to know what a fair deal is. Thanks for your help
You have all the variables, you can plug in your numbers to the calculator and then post a link here so people can evaluate. Plus, you can play with the sales price at that point to see how much of a discount you need off MSRP to get your payment closer to $500.
Can you link to where you are pulling this number from? Sure, there are a few BMW loaners that are at 20+% off MSRP, but for a new car, I think a safer number is going to be 10-12% off.
Plus, with your specific requirements that leave you with only 2-3 cars in your region, you’re aren’t going to have the advantage when it comes to negotiating.
Thanks for your reply. I made an example here with 4k down (I’d rather do 0 down) but the monthly isn’t matching what the dealer quoted me. What else can I change?
As I see it right now I’m getting 2.8% off MSRP, not including the 3k BMW lease credit. I can ask for more off right?
Just glancing at the calculator, your government fees aren’t going to be zero, so you’ll need to adjust that accordingly.
If you want to put $0 down, create a calculator with $0 down and then manipulate the selling price to determine what kind of discount you’ll need in order to reach your target monthly payment.
Yes, you can ask for more than 2.8% off MSRP. Whether they’ll give it to you is another story, with the whole pandemic and all. But, 2.8% off a BMW is laughable at best. You want to negotiate the % off MSRP prior to the incentive being considered.
Adding government fees is only affecting my drive-off, not the monthly payments. I want the monthly payments from the calculator to match what they quoted me as-is so I can know what to expect when I ask for more discount…
I’m basically entering values from the picture I posted to the best of my ability into the calculator but something is not adding up.
Thanks I found the FAQ. Do you mean that I should adjust the Down Payment till my monthly matches? I’m finding that inputting 2k or 3k down for what the dealer quoted at 4k or 5k down respectively, will make the monthly match
Put all the correct fees in, make the monthly match, and if you have the correct info, the due at sale amount between the calculator and the dealer should be very close.
thanks this is close. so you are inputting $513 for what the dealer quotes at $3k down ? if I wanted to see a 0 down number I could just subtract from to the rebate correct?
“0 Down” as in you sign and drive? Or “0 Down” and only pay 1st months at signing?
Look to the right on the calculator in the shaded box and you’ll see you’re true Due at Signing. See how I’ve got that at $3k? That’s the “Drive Off” amount. If you want that to be zero then keep subtracting from your “Down Payment” until you get to 0 “Drive Off”
If you’re willing to go auto, there’s a lot more demos/loaners around. You could probably get into the mid 400’s for a 12k lwase with like 2-3k das. The limited quantity of manuals isn’t going to work in your favor.
True, there are so many autos. But I’m pretty set on 6MT. It’s really good in this car!
Also the one I mentioned above has been on the lot 317 days … that should give me some bargaining power right? I don’t need it, if they don’t cut me a deal I’ll order one that’s exactly the spec I want.
I test drove a '17 M2 at the same time as the M240i. It’s a great car but not what I’m looking for… too much to handle for me every day. I really do wish there was a car at this price point I liked more but I can’t think of one
