Year, Make, Model, and Trim: 2021 BMW M340i xDrive
MSRP: $65,395
Selling Price: $62,210
Trade-in: $6,000 (2010 Honda Civic LX, 61k miles)
Drive-Off Amount: $2,500
Monthly Payment: $711
Months: 36
Annual Mileage: 10k
Residual: 54%
Incentives: $3,185
Region: VA
Leasehackr Score:6.1
Leasehackr Calculator Link: CALCULATOR | LEASEHACKR
I was told they “took all of the profit out” at this price. As listed above, the $711 monthly payment includes $2,500 down, and a $6,000 trade in. I’m new to leasing, wondering if this is a good deal. This is obviously a sales tactic, but they kept referencing stock shortages and how cars are going for MSRP or higher recently, and it will likely get worse. Not sure how much/if at all to take that into account. Thanks!
Not positive I did the calculator right, so also attaching a photo of lease payment summary:
Check out some of the broker deals in the Marketplace section to see how it stacks up. Try for a $60k selling price.
Have you tried selling your current car on your own? At the least check with CarMax, Carvana, etc. it will only take a few minutes.
Also you said $2500 drive off at the top and $2500 down later on, figure out which it is, you generally don’t want to put money down. I would get clarification of that.
RV should be 58% and MF is .00093. This isn’t really the best deal seeing as you’d effectively be putting 8500 down and the payment is still pretty high. You could do better with a broker if this dealership isn’t willing to move on the price. Try to get the selling price lower and at base MF.
M340i stock is a bit rough right now so deals are harder to get but they’re not impossible. I’ve seen deals in the 600s w/ fees + first mo DAS.
this is somewhat how a broker deal would look like if it were structured the way your current deal is.
The difference is huge but good luck finding a broker that has a M340 in stock.
From the surface of your deal, it looks like the $6K +2.5K you’re putting down is being completely washed out.
They’re lying.
At $930/mo, this is an atrocious deal.
Yes and yes, but OP is in VA, where he or she is taxed on the selling price after incentives at 4.15%, about $2,500 here, so the payment will be $75 higher with tax rolled into the payment.
I can get OP to about the same price on an M340i and keeping the trade out of the deal, but it would have to be an order, because I have zippo in stock.
Sounds like a good deal, he keeps his car till the new one shows up. Then sells it and can probably cover his first 8-10 payments with the income.
Yeah…I just cant believe the payments we are seeing now. Pretty soon 4 figures will be the norm?
I think Ill be hibernating soon…just need to finish fattening myself up to ride out the cold leasing winter🐻
Well, that’s only if one is the kinda person who is desperate to throw away his or her money. Nothing has changed, dealers were always motivated to take all the money they can get when they have willing subjects as is apparent here.
