I am trying to help a friend lease a car, although its something I have never done myself.
What is the lowest MF that BMW offers right now for the lease of a 330ix? Would the MF be different for a 36 month or 39 month lease?
Here is what the dealer has offered my friend for a well-optioned 330ix m sport:
MSRP: 55,595
dealer discount: 2700
lease credit: 1000
college grad credit: 1000
Final car price: 50,895
The taxes, govt fees, $925 acquisition fee, $799 dealer processing fee add up to about $4500 and are paid up front, along with the first month’s payment.
Amount financed for lease: 50,895
Residual value: 57% or 31,689.15
Lease term: 36 months
Miles: 10,000 miles per year
MF: dealer didn’t say
Lease payment: 740
Other than the 2700 dealer discount, which I think we can do better on, how does this deal look?
If you have BMW loyalty that would be .00180 and 39 months.
If you have fleet or no addtl incentives it’s .00210 and 36 but can be potentially marked up to .00250 (sometimes this can be better if you’re in a sale price tax state) and discount increased to compensate.
Additionally, fleet cannot be combined with college but loyalty can.
We could help improve on this deal if you’d like to inquire.
So, if he has no BMW loyalty, then .0021 is the best MF you can get?
You are saying the $1,000 lease incentive cannot be combined with the $1,000 college incentive? The term sheet from the dealer has $2,000 in rebates and says:
“INCLUDES COLLEGE GRAD INCENTIVE
REQUIRES BMW FS LOAN OR LEASE”
Thanks for the offer. I will talk to my friend. If he were following my advice he would be getting a used vehcile. HAHA
That is a horrible deal on a 330ix. You should be shooting for at least 6% discount, and 8% is possible with serious negotiating. A broker like IAC will make life much easier for your friend if they are not a good negotiator. Also, drive to Maryland to save another $299 on the processing fee. Maryland is capped at $500 vs VA at $799. Passport BMW should be close.
