I recognize that the 10% before rebates is average to “ok” in this climate. I worked with several dealers and it appears the discount off of MSRP is not going to budge in my area and supply is limited these days. Considered out of area, however 11% through a broker does not save anything once broker fee and shipping cost is factored in unfortunately.
I do not want to chase a poor deal just because I’ve invested time into the process, so any thoughts or feedback would be helpful.
It looks like you have done your homework. Your deal definitely looks fair, as you noted certain cars just don’t have giveaways right now and this is one of them.
One thing I would do is get your monthly payment to $699.99. This will make your MSDs round to $700x7, or $4900 instead of $5250. $75 down would get you there and would reduce your MSD outlay by $350. Of course, in the end you will get back whatever you put down, but in my mind coming up with less is still better. Realistically of course, what I’m implying is that you simply tell the dealer your payment needs to be $699.99 to do the deal
Try to get at least $100 more off the sales price to bring you under $700. That will save you a little in MSDs down. Do you have a PenFed account for at least 60 days? If so, that could be another $500 in rebates.
There is one other option, which I feel like a broken record on over the past week and not everyone will agree with it, but you could tell the dealer you would like them to keep your payment the same number you agree on, but to increase the sales price discount percentage. This will allow them to mark the money factor up. It will also give you more equity in the car during the lease term in case an opportunity to exit presents itself.
Also, do you have a BMW Visa card? If not, and you can’t wait a few weeks for the card to arrive, it may not matter…but if you use the BMW visa for your MSD, you can get 4xpoints back. Not all dealers will accept a credit card for the MSDs (especially if they go over a certain amount), but many of them will.
If you can wait and don’t mind the 2020s, you can try waiting until March or April which is when in the past BMW had some push to clear out leftovers. Ofc Covid changed things and all bets based on history are off.
I feel like I was so so spoiled with those old programs. I mean come on, even on lower and models like the 430 coupe I have we were getting north of $7000 in rebates…and the best programs were 24 months as well, so the end result was pretty crazy.
EDIT…I’m about to landfill myself with my non sequitur comments…
But I couldn’t resist looking at my 2019 430 lease contract. The rebates were $7000, and combined with a 20 some % MSRP discount…The depreciation charge on the lease contract was $655😁.
OP, like others have said if you can wait until March/April for a car, I would wait till then and target a leftover 2020 540 (previous gen model). Most likely a loaner.
April is BMW’s fiscal year end and they will be looking to clear out whatever 2020 models they have left . After April ends, 2020’s can no longer be leased, so dealers will look to clear inventory. I would specifically look at 2020 loaners.
Covid messed up 2020 inventory so it will be slim pickings but if you have the time to wait, you will fair much better than getting a 2021 now. Programs outright suck, your discount at 10% is “meh” and you basically have no rebates to add into the deal.
Paying $800 a month for a 5 series is no bueno.
But it’s your cash and the invoice will go to your address monthly so only you can decide.
Yeah, some of the stuff is cool but for many folks will not be directly impact the buying decision. Even the M235 is now coming with an M card to operate the car instead of the key, cool yes, but many people probably will never use it, myself included.
I’m a leasehackr newbie so just curious: if I were to wait until March/April to get a 2020 530/540, what monthly payment including tax would be considered a good deal? Assuming a few packages but nothing super loaded
I think I’m going to do what you advise: wait until March/April to get a 2020 530/540 - what monthly payment including tax would be considered a good deal? Assuming a few packages but nothing super loaded