My location: SF Bay Area, CA
Dealer location: Seattle, WA
Hi, wanted to start off by saying that we are thankful for this community. My girlfriend used the pre-negotiated deals feature to recently sign a lease for an i4.
I also need to replace my old BMW now (2009, 216000 miles) so I am about to sign a lease on a loaner vehicle. The car I plan to lease is a 2023 430i xDrive convertible with 7546 miles. The vehicle is sold by the BMW dealership in Seattle and I will be responsible for transporting the vehicle back to California either by driving it or shipping it. The lease will be through BMWFS.
The numbers I was given:
$2500 Drive-Off (includes first month’s payment and the rest covers taxes and fees)
$658.08 x 35 payments (inclusive of sales tax)
MSRP $68040.00
Sale price $49388.00 (negotiated from $50888.00)
MF 0.0023 (marked up by 0.004, they are not willing to do base MF, but moved down the sale price)
RV $34980.10 (54% with a $0.25/mi demo vehicle adjustment on top)
12K miles per year
Car has the M-Sport package, ventilated Vernasca leather seats (very interesting option), premium package, Shadowline package, and Harman Kardon sound system
Includes the $1000 BMW lease rebate
Numbers do not include the $1000 loyalty rebate, they need to recalculate that today
They don’t do MSDs
How does this deal sound?
I would normally buy a preowned car (3-5 years old) rather than leasing but it seems that a lot of used cars are priced much higher than normal due to the shortage during the pandemic. I was thinking leasing would allow me to get out of the car in 3 years and opt for a cheaper used car when the prices have dropped. Also, it gives me the option to swap to an EV at that point when infrastructure and battery technology are better.
I did get a good quote on another i4 e35 at $23112 all-inclusive over 3 years but worried about the practically of having two EVs and not being able to take longer roadtrips unless I rent a car (I do 10-15 day trips up to skiing in the winter).
Since this vehicle is AWD another consideration is not having to rent or put on chains when chain control is up (3 times this season).
Are you aware the pre owned market tanked hard? There’s only a few models that have kept their values since the COVID peak. Everything else has plummeted in value in the last 2 years.
Yes, I’ve looked at the market index and used car values are indeed tanking quite a bit.
I think BMW gas sedan/convertible values specifically for the Bay Area remain elevated with very little used and new inventory available. Dealers have told me they don’t have anything arriving and the market has moved heavily toward SUVs (2-3 new 3-series vs 80+ X3). The used SUV prices have returned to normal as well. I’m very weary of getting an SUV though due to the open trunk issue and the ease of the trunk getting broken into or vandalized (have gotten broken into twice already in the last few years).
Then you’ll just keep waiting forever. There’s nothing on the horizon worth waiting for. Just get one now while deals are better than ever and maybe better than they’ll ever be.
Yeah, I was torn between another i4 and this. Some context around some of the challenges with the EV:
My home’s wiring is very old (house is > 100 years old) and won’t support level-2 charging out of the box so I would be relying on public charging. From my experiences with my girlfriend’s i4, it’s difficult to find an open non-Tesla fast charger and charging times are about 35 minutes on top of that.
Going long distances requires doing a few charging stops (Tahoe trips consist of stops at Roseville, Truckee, and then Roseville again) and low temperatures in the Sierras might cause some problems with range. This makes day ski trips difficult.
For CPO 3-series, 2021 models average $30K and for CPO 4-series 2021 models average $40K in local listings so about 60% of MSRP. I would expect normal pricing would be more like $25K and $30K. With the lease, it’ll mostly be under initial maintenance (until the last year) and fully under warranty.
I’m in the market for the same type of vehicle and this is decently better than any other offers I’ve managed to pull (not saying much since I’m not that great at negotiations).
Did you get this done via email or on the floor negotiating, it seems like they’re solid numbers -just my opinion
@C10H12N2O Yeah, I ski at Palisades (I-80). The traffic hasn’t been bad on my current 2WD BMW convertible or my girlfriend’s previous Lexus when there’s no snow. When there is snow I’ve been renting an AWD vehicle from SJC the day before to avoid crawling up I-80 in chains (I’ve done it once on the BMW and chains on a low clearance car is a strange experience).
@paranoidgarliclover Unfortunately that was what I was worried about. It’s difficult to find comps and 430i convertibles are becoming rare. There’s rumors that BMW will not be carrying on the convertible form as an EV in the short term and most people in the Bay Area are looking for SUVs and EVs so new inventory will probably get harder to find over time.
@MB_Fan I did negotiation via text since this is in BMW Seattle. Looking to do the process fully remote. They sent me a picture of the numbers with everything outlined and had me go through BMW USA to confirm credit. They mentioned actual docs will need to be signed via notary. This particular convertible has been sitting on their lot since April and I assume that convertibles don’t really work with Seattle’s weather and it’s probably a hard sell.
I’ve looked into both the 230i and A5. Unfortunately BMW discontinued the 2 series convertible so there are no CPOs available for that car, there’s only one A5 CPO in all of California on Edmunds and it’s a 2021 at $41K which is similar pricing to the 2021 430i convertibles.
There are two S5 convertibles (CPO) for sale in California but they’re both unfortunately in a different price range than what I’m looking for. A 2021 Prestige for sale at $60K and a 2022 Premium Plus for $47K.
Aware of the CPO option, a lot of the used non-CPO 430i convertibles were close in price to the CPO ones though (excluding super high mileage vehicles and previous rental vehicles).
Just ran the numbers on the calculator. It matches what they have so I assumed I entered them as they did (on the numbers they sent me they set the base sale price to $50388 then applied a $1000 untaxed rebate to it to get it down to $49388).
