$31,000+ to drive a 2-series for 22.5k miles is absurd to me.
Hard, hard pass.
Honestly nobody cares what fake version of “M” they want to call it, it’s not an M.
This might be one of the worst deals I’ve seen recently but YOLOOOOOOO amirite?
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Of course it’s a personal finance forum (leasing is financing) it just specializes in cars.
Are you going to fault a doctor if you go in for an ear infection, but he first wants to talk about the bone that’s sticking out of your arm?
Yeah… Same idea here too, effective monthly payment is more than $800/mo, $31000 is more than 50% of the vehicle value.
He said the MF is decided by BMW FS, no negotiable space, I have no idea how can I decrease monthly payment more
any suggestion that I can lower the monthly payment more?
Despite delivery + broker fee, he said MF is decided by BMW FS, which is the lowest he can get for me with no markup.
Most vehicles are just not hackable. They just don’t have the lease support from the bank to make it possible.
Most of the time the only options are
-
Keep current vehicle
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Choose one of the few hackable cars.
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Buy what you love and own it for 5+ years
I see. Seems the problem is that M240i isn’t a car has a decent incentive from the manufacturer/dealer/bank, which makes the lease cost extremely high.
For point 3 cuz I might relocate out of the country after 3 years so that’s my concern that I cannot finance the car rather lease it
I don’t know your city pairs, but some version of this:
And then drive back.
2,000 miles / 27.5 mpg combined = 72 gallons of gas @ $4.25 = $306
$84 + $306 = $390
So there’s about $1,500 in savings, or $42 a month.
I didn’t include the cost of food (you have to eat either way) or lodging (you can nap at rest stops or stay with friends / relatives along the way).
I am planning to ask them if they can do performance center delivery, this will save a lot compared to driving to LA…
The monthly payment didn’t include shipping cost, so shipping is extra one-time payment, make the deal even worse.
The cost of the car over 36 months would, however.
I didn’t include rent charges in the calculation because I was hoping you wouldn’t roll the delivery into the payment.
For sure I won’t do it, that causes more expense based on the interest
For the deal solely despite the delivery cost, is it bad for M240i?
I feel 6% and no incentive makes the leasing expense extremely bad based on another dude post before
As of September 1, BMW discontinued performance center deliveries for cars not build in South Carolina. So, if you’re not buying an SUV made there, you can’t do PCD.
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Wow good to know but man that sucks
It looks like a terrible value to me.
Lease cost is roughly the same as my 750i (2019) and e-tron GT (2023), and while I know these aren’t directly comparable, you’re looking at an entry-level subcompact BMW with a bigger engine and some handling upgrades.
I almost leased a Z4 M40i, so I get the general appeal, but I was kicking around the idea when they were giving them away for $5-something a month… and still took a pass. And I didn’t have the same budget constraints.
They’re fun, but that only gets you so far.
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Agreed. Maybe due to the allocation issue, leasing the car has terrible monthly payment (almost 1.3 times of the 1% of MSRP rule). Maybe the good idea would be financing it after I graduate and get incomes.
I might just look around and see if I can get a better deal, if not I might just pass this idea. Like you said, it’s fun but only get you there.
Really appreciate your suggestions here!
Also when do you get the Z4 quote? I wouldnt be mad if i can get similar quote on this M240i, which I don’t think it’s possible due to the nature of rising interest rate lol.
There isn’t really a rule. But the good BMW deals historically have been like 0.6% of MSRP and sometimes lower.
So you’re not paying 30% over an imaginary rule, you’re paying double.
That was pre-covid, so not relevant now, aside from explaining my personal perception of value.
Good luck with whatever you decide to do. 
But since federal reserve rise the interest rate to this extremely high level, and still has potential to going higher. I don’t think that 0.6% rule is applicable anymore.
Also depends on the car model, like you mentioned hackable, it’s not an EV so relatively no lease incentive baked into this situation. I saw national wide BMW leasing MF is about 0.0021. Idk, how that CA delaer can get me $740 pretax but most offer i get is around $1k/mo.
Redo my calculation based on extremly high apr at 6.04%/36 mo financing on BMW website, still doable after I have income. But the thing is I may relocate out of country after 3 years, so really cannot keep it for 5+ years.
Put together a calc and post it.