I’m a new graduate who is interested in leasing a BMW 300i. I’ve been doing some research on car leasing, and I found a deal that I’m interested in. However, I’m not sure if it’s the best deal possible. Can you help me review the deal and see if there’s anything I can negotiate? I’m looking to keep my monthly installments as low as possible.
Thanks in advance.
Deal Terms:
Monthly lease payments: $589 per month
Lease term: 36 months
Adjusted capitalized cost: $44,600
MSRP: $49,795
Capitalized cost reduction: $4,195
Dealer contribution: $1,000
Security deposit: $0
Cash due at signing: $4,195 + $589 + $925 = $5,709
I haven’t discussed those terms. But I’m assuming 10k miles a year. I’m in Washington state that’s why looking for an xDrive. I’ll ask about the monthly if it includes tax or not.
The money factor. This is the interest they are charging on the lease. There’s a “base” money factor that the dealership is allowed to mark up, but you can’t go under the base money factor unless you start doing MSDs.
Also check if there’s additional lease cash for a new grad.
I’m sorry, I’m new to this portal, and it randomly showed me suggestions to add as a tag. They gave an actual quote to me now, attaching for reference.
Even if we had a Time Machine to back when 330i could be leased for sub $400 before tax, I wouldn’t recommend it to a new graduate.
There’s just so much in terms of home equity and 401k and savings one should have before spending this much on a car. Car payments, insurance, premium gas, yearly reg or property tax if applicable, it all adds up.
Even as a car enthusiast I would say that car expenditures should not be a high percentage of one’s net worth IMO.
You guys need to go easy on him. The BMW people in Seattle are impossible. Can’t compare with CA - I last leased a 330i for $375/mo $1k DAS as a fresh grad in 2019 in LA. Now its 2023, I tried to work on an i4 lease w $7500 in rebate in Seattle and they gobbled up the entire rebate w markups and refused to budge.
WA is a tough place to buy, and this market is not making things easy.
My advice to OP - try to find actual sales/purchases that happened in WA or OR to calibrate. Don’t compare w CA - that will only bring you sorrow.
I do agree though - for $850/mo you can probably do much better, I got a $65k car quoted at $850 from a Seattle dealer the other day. 8% off, 6.5k incentives, slightly bumped up MF. But you’ll need to speak the language to get there.
