The deal looks pretty shitty to me. I am confused about the difference between the customer rebate ($2000) and the $1500 rebates mentioned in the Lease Options below. I just inputted $2000 as a Taxed incentive in the calculator.
Any tips on how to negotiate with the dealer? I did not clarify what his MF is, just calculated based on other numbers. But that 0.0027 is insanely high.
where you getting that from? 0.00093 is base, and they can mark it up as far as 0.00133 with profit, only higher if your credit is subprime. The top left box is a finance option.
The $2000 rebate is a purchase rebate, which is why it’s listed in the purchase section. The $1500 lease rebate is for leases, which is why it’s in the lease section.
You should input the $1500 into the lease calculator, not the $2000.
No, you incorrectly filled out the calculator and then messed with the mf until you got an output that you thought matched (which wasn’t even for the same deal offered)
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 (Blog | 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. There is a very detailed FAQ on the calculator that walks through using the calculator, line by line.
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.
Your calculator shows a mf of .00166. This is only possible with a bank marked up mf due to credit issues. If this is accurate, you will not get down to .00093.
That definitely isn’t going to help your credit situation, particularly with bmw. They’ll need to run your credit to tell you what bmwfs actually is charging, but I would not expect with a low 700 and no vehicle lease history for you to qualify for tier 1.
I see. I will see how much the dealer is willing to come down to. In the meanwhile, will see if other dealers may provide a better deal. Or just try my luck with Mercedes c300.
