This is a long post and I appreciate your patience, because I won’t be able to afford a Bimmer unless I hack a great deal.
I am looking at leasing a BMW 320i in Atlanta for 24 months/10k miles. I am trying to determine the incentives available and have compiled the data from MANY posts, as well as from Edmunds, BMW USA and local dealer sites.
I’m assuming that in negotiating, I’ll negotiate a sales price (hopefully 15-20%) off MSRP, and then all of these credits will then be subtracted from that sales price to determine the Cap Cost.
I used @BMW_Dave’s current spreadsheet BMW New Car Programs (and Retired Loaners with < 5k miles) - UPDATED 5/8/2019 - #372 by BMW_Dave as a starting point and tried to confirm whether these apply locally.
CASH REBATES:
$3000 Lease Credit
- From Dave’s spreadsheet
- BMW USA and local dealer shows $3000 as a component of their advertised lease deals as “$3000 lease credit included in payment
- Edmunds shows this as a lease credit for my area
_Questions: _
- Is this before or after tax?
- Applicable to demo/loaners (assuming <5k miles)?
- This is NOT listed in the summary of available offers for a 2018 320i on the local dealer website (see below).
$1000 Loyalty Credit ($750 in GA)
I recently sold my BMW (which was not financed or leased by BMW), so I am assuming I qualify for Loyalty. I also own an Infiniti and an Acura (neither financed/leased), but understand I can’t do a Conquest and a Loyalty.
- $1000 From Dave’s spreadsheet
- From local dealer, it appears that this is only $750 in my region based on the following:
*** “Loyalty Offer: $750 Cash Back**
BMW Loyalty Lease/APR Credit is available for current or former BMW owners/lessees who lease or finance a new eligible MY2017 or MY2018 BMW model from an authorized BMW dealer and contract through BMW Financial Services……Former BMW owner: Customer who sold their BMW Car/SAV within the last 12 months, regardless of financing source (proof of ownership required such as vehicle registration, auto insurance card, vehicle title or DCS Vehicle History)…The following new retail types are eligible: 1-5 Consumer Retail, A-Center Employee, B-Demonstrator Update, and D-Recognition. G-Executive Allowance and J-USAA are eligible for all vehicles except the i3. Retired AMP Vehicles and Demonstrators that have accumulated less than 10,000 miles will qualify when reported to the end consumer during the program period……BMW NA Company Vehicles that have accumulated less than 5,000 miles will qualify when reported to the end consumer during the program period. ….Vehicles previously reported as the following retail types (that meet mileage requirements) are eligible when reported to the end consumer during the program period: 6-Service Loaner, 7-Sales Demo, 8-Specialty Demo, Z-Demonstrator, 9-NA Company Vehicle, E-Mobile Assistance, F-Shuttle and K-Extended Test Drive. -The following new retail types are not eligible: H-Corporate Fleet, I-Daily Rental and L-Limo & Hotel
_Questions: _
- Is this before or after tax?
- Demos/Loaners - I assume loyalty is ok (see my post at New BMWs with little to no mileage listed as Demos/Loaners), but that print is confusing.
$500 Corporate Fleet Credit
I believe I qualify for the Corporate Fleet incentive (based on Happy to help with BMW Leases - Corporate Fleet - UPDATED 08/17/2018 - #67 by BMW_Dave
) as a UC Berkeley grad (not employee).
- The local website shows this under manufacturer’s offers as
Corporate Sales Offer : $500 Cash Back On Select BMW Models
Corporate Sales Program is open to eligible employees or members of select organizations that have partnered with BMW of North America, LLC for eligible new BMW models. Incentive amounts are subject to change without notice and should be confirmed with your BMW Center at the time of transaction and must be used at time of purchase. People who finance through BMW Financial Services qualify for the incentive. Program runs from January 3, 2018 through January 2, 2019
_Questions: _
- Does leasing qualify as “Financing” through BMW Financial Services?
- Is this before or after tax?
- Demos/Loaners - ?
$1000 Spring Into Summer Test Drive Event
$1,000 offer valid on eligible vehicles test-driven June 7, 2018 through June 9, 2018 and delivered and retailed June 7, 2018 through August 31, 2018. Eligible models include most new 2017, 2018 and 2019 BMWs, ineligible vehicles include any 2016 BMW, 2017 or 2018 M2 Coupe, 2018 M3 CS, 2019 M5 MINI vehicles and BMW CPO/CPO Elite vehicles. This offer cannot be used for previously ordered or previously delivered vehicles and is only valid on delivery of in-stock vehicles. Offer valid to Q2 Spring Into Summer Test Drive Event participants and their family members residing within the same household. Offer valid on final negotiated price and may be combined with other applicable BMW offers that are available at the time of purchase. It may not be used toward tax, title, destination and delivery charges. Only one redemption code per vehicle may be used. Only valid at participating dealers.
_Questions: _
- Is this before or after tax?
- I believe others have said that this is NOT applicable to demos or loaners, but am unsure about that.
SO FAR IT APPEARS THAT I HAVE $5250 available (I don’t qualify for BMW CCA, military, USAA or college grad):
$3000 Lease Credit
$750 Loyalty
$500 Corporate Fleet
$1000 Test Drive
In addition, the local BMW dealer also shows the following “Manufacturer Offers” for a 2018 320i, and I can’t quite figure them out. These do not include the $3000 Lease credit discussed above: https://www.nalleybmw.com/global-incentives-search/2018-BMW-320i-Sedan-Offers-US2018BMW62ebb67f13e2fd3c5bc96db.htm
- “$2000 Cash Back on Select BMW Models” Offer only valid 5/15/2018 through 1/02/2019
What doesn’t make sense is that the fine print talks about the Corporate Sales program, and is the same fine print used for the $500 Corporate Sales offer listed above!
Corporate Sales Program is open to eligible employees or members of select organizations that have partnered with BMW of North America, LLC for eligible new BMW models. Incentive amounts are subject to change without notice and should be confirmed with your BMW Center at the time of transaction and must be used at time of purchase. People who do not finance through BMW Financial Services qualify for the incentive. Program runs from January 3, 2018 through January 2, 2019.
There is another cash back offer listed as:
“Financing Offer : $2,000 Cash Back On Select BMW Models” Offer only valid 6/01/2018 through 7/02/2018
Does this only apply to loans and not leases? The fine print only says:
Cash only available on vehicles with 9,999 or fewer odometer miles and must be the 1st consumer retail.
Finally, is it possible that this is the “Lease Cash” (although is says $2000 instead of $3000)?
- “Dealer Allowance: $2000 Cash Back on Select BMW Models
Cash only available on vehicles with 300 or fewer odometer miles. Dealer Contribution cashback may not be available in all areas, to all consumers, or to all dealers. Dealers who participate may not be able to contribute the entire cashback amount. See dealer for details.
MONEY FACTOR:
Standard .00166 confirmed by Edmunds
MSD’s: It is unclear in recent discussion about MSDs coming back whether they are available in Georgia for NEW lease customers. Maybe @AB26 or @Swift can help with this. Bmw enhancements for the month of june
@Jon said that you can can waive the acquisition fee for a .0005 MF increase, but it’s only worth it for cheaper and shorter BMW leases. Is this something that varies locally? At $925, it may be worth it for me.
RESIDUALS:
67% FOR 320i Rwd 24/10 confirmed by Edmunds
If a loaner w/ less than 5000 miles, subtract 500 miles from actual miles and multiply by $0.25 and subtract that amount from the residual value (MSRP x 67%). Correct?
Thanks so much for your help and help keep me from having to lease a Jetta (which would not be the end of the world - I’ve had both).
My neighbor drove past with a Stelvio the other day and I ran out and accosted him - he let me sit in it.
