I’m working on a new lease deal in the northeast (CT, RI, MA, NH) for a 2024 i5 M60 demo with ~3-4k miles. I’m moving to Florida in two weeks and plan to have the northeast dealer register the car in Florida for me. I will have to ship it down when I move, but I’m not concerned about the cost of transport.
Is this a good deal or should I try again in Florida or consider a broker?
MSRP: $91,XXX
Negotiated Price: $80,XXX (11.5% discount before incentives)
Term: 36 months / 10k mileage
Residual: 53% minus $0.25 per mile on odometer (adjusted residual of ~52%)
MF: .0023 (I think there’s .0004 markup in here; they wouldn’t budge?)
Incentives: $7,500 EV + $1,500 BMW loyalty
Zero down / due at signing. With everything rolled into my payment, this gets my payment to a bit under $1,100/mo including 6% FL tax. There’s a $500 dealer fee in here and it excludes the cost of tags in Florida.
Doesn’t seem like a big enough discount on a “demo” to me. You could probably reproduce this deal on a new one, via a broker, although you still may wind up shipping it, because Florida dealer fees are notoriously high. The new one will, at least, come with the EA limited charging promo. Have you looked into MSDs?
I think it’s a grey area. Usually, the promotion is only valid for the first owner and most commonly, with demos/loaners, you would be the second owner. But it’s possible the first owner never claimed the promotion. I wouldn’t make any assumptions here. I know, for sure, you can’t transfer the promotion between first and second owners. Perhaps @IAC or @IAC_Scott could confirm.
Shouldn’t be that hard to find out if brand new and/or buyrate MF, the two obvious ways you’d see some value by going that route.
Also there are really good deals in there for I4M50 and i7, depending on if you’re looking for a nimble sport sedan or a luxury car with a grownup back seat.
I think the first question to ask yourself is do you want a new one for the same price, or do you want to spend a good bit of time trying to price-shop loaners?
If you’re happy with this pricing as is, you might as well just get a new one for the same price.
