I am new to car leases. Thank you at first for those valuable posts I have read through. Currently I am looking into either M4 Comp or 718 and get a few numbers from dealers as below:
M4 Comp 36/10000 lease:
MSRP: 85745
RV: 57%
MF: ~0.00133
Dealer fees: 799
Non tax fees: 1618
With 0 down, the DAS would be 1432 and 1432 per month
Boxster 39/7500 lease (I would like a 36 lease but the dealer didn’t pull it out):
So basically that’s all I get. It would be much appreciated if you guys want to share your thoughts on those leases, and how much discounts I could ask for. Also if you are a broker, feel free to dm me!
FYI1: Current live in VA, but might move to Texas soon. I suppose Texas is more friendly to lease deals, from tax’s perspective?
Reach out to @Ashleigh if you want an M4. Check out their thread in the marketplace, not sure if they have an M4 Comp, but there was a similar msrp M4 for significantly less. You’re basically paying 54k to lease a 81k msrp car with the deal you have…
Texas is not much more friendly to lease in…I think you have to pay tax on total msrp of the car?
Not a friendly lease market but if invoice is going rate in a majority of locales then a locally but well researched deal is better in all terms once you factor shipping and doc fees.
If in state (TX) and one pay is an option then a lender tax credit can be leveraged.
That’s what I think too! Should I ask them if there are any discounts? I haven’t leased or owned a BMW before so they said there was no incentive for me
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.
Good grief, not even considering the bad VA tax situation both of those deals are atrocious.
With the $1500 dealer add-ons you’re essentially paying over sticker for both.
With the BMW, there are plenty of brokers on here that can do a few % off MSRP at base MF without the dealer add on crap.
With the Porsche, please shop around, a $500 discount on a base 718 is pathetic. Yes Porsche’s don’t lease great but a $1300 payment on a $76k 718 is comical.
Take a big step back as Matt mentioned mentioned above, do some homework, etc.
Thank you so much for the update! I have checked those resources you have mentioned. The question hanging here is what target price I should aim for. As for the boxster, I checked the forum and some dealer/brokers mentioned that 2021 boxster would have a 57% RV, which is pretty much similar to the RV I got from the dealer, so I would be better to go for the discounts on the MSRP and some other add on BS? The target price I want to have for either car is ~1K per month. Not sure if it is applicable at the current market? Thanks for your words in advance.
Standard Porsche advice, if you do lease a 39 or 42 mo term will almost always lease better than 36 mo. so make sure that’s what you’re looking at.
For the M4, search the Marketplace section as mentioned above, there are tons of BMW brokers on here that post spreadsheets with available discounts and calculators, etc.
If you want to get the best deal you need to take the time to do your homework and research and be comfortable building your target deals in the calculator, so that you’re making the offer to the dealer and not the other way around.
I’d recommend you stepping back and re-reading what I posted/following those steps. They tell you how to determine what the rv actual is and guidelines for working out what your target price should be, rather than just a made up number.
