New to the forum. I’m looking into leasing a 2021 BMW M340i in the South Florida area and would really appreciate advice on negotiating the lease quote down further. Ideally, I’d like to be right at or under $600 monthly with $0 down – is that possible at this MSRP? If so, any tips on how to achieve that would be fantastic. I’ve attached the lease worksheet I was given as well.
Here are the details of their current offer (my wife and I will be co-applicants – with 785 and 771 credit ratings):
36 month / 10,000 miles annually
Discount: -$6,065 (10% discount)
Rebate: -$2,000 (loyalty- stepdad and mom leased thru this dealership)
Sale price: $52,580.00
Money factor: .00126
Residual value: $35,174.10 (58%)
If they won’t budge with the marked up MF, ask for a bigger discount.
As for asking them to remove high doc fee, I doubt it will happen. Florida dealers are known to charge outrageous doc fees cos they can.
They won’t. The doc fee is part of any other deal, but they’re the highest in Florida. I have clients just ship their cars down to Florida because the difference in the doc fee takes care of most of the shipping.
There are no other incentives, save for PenFed/military. The lease incentive is $1,500 and loyalty is $500.
I wouldn’t expect more than 10% and base MF outside of Florida. If you can get 9% and base MF, that would be good enough too, without going out of state.
The salesman likely doesn’t know the nuances of the requirements. I would take their assurance that it qualifies with about the largest grain of salt one can find. You don’t want to go to the dealer to sign paperwork and have a $500 “oops, sorry we missed that. We’ll just add it to your tab” moment catch you off guard.
I’m assuming you mean before he signs, right? If he signs the deal with loyalty included and takes the car, and the dealer finds out after the fact they screwed up on the requirements, they can’t just throw a $500 tab on the customer can they? The agreement has already been signed. I suppose they can technically take the car back if the deal doesn’t get funded by BMW FS, but I would assume for $500-1000 the dealer would rather eat the cost.
Interestingly, they’ve been able to apply loyalty for us in the past so long as a BMW is listed on the lessee’s insurance policy, even if the car is not registered under the lessee’s name or at the lessee’s address.
LOL! Touche. It was actually for a relative I was helping and it was their first BMW. But I’m curious to know how relaxed their requirements actually are for loyalty. Seemed easy enough to show the proof of insurance.
If the OP is registering the car at the same address where other BMW’s are registered then they’ll have zero problem qualifying for loyalty. I wouldn’t worry one iota more about this. It’s not the dealer’s or BMWFS’s job to police what house you can or cannot register your car at and they’re not going to hire a private detective or send out the black helicopters to make sure they really live there, or anything like that.