I’d love your help evaluating this lease deal on a 2024 BMW X3 retired loaner with 8K miles. Here’s the breakdown of the offer I received w/ a trade-in:
Selling Price: $41,420
Term: 39 months
Annual Mileage: 10,000 miles/year
Residual Value: 56% ($27,294.70)
Money Factor (MF): 0.0004 (base MF used)
Monthly Payment: $571 (pre-tax) with $0 down
Non-Tax Fees: $1,123.97 (includes registration)
Questions for the Community:
Does this seem like a fair deal for a loaner X3? Are there areas I should target for further negotiation (e.g., fees, structure)?
Trade value is fair, MF can’t be marked up on a 39 month lease, they may be doing it anyway to fudge the numbers a little, also there is no way that the MSRP is 52,399 tho, maybe that’s their advertised price before discount. It’s still possible this is actually a good deal, @IAC what do your Texas senses tell you?
They said $52,395 MSRP and Selling Price: $41,420 (20.9% off including $7,975 discount, $500 military discount, and $2,500 in rebates. I also questioned this as well like hmmm, I feel like that and the MF needs to be adjusted but they won’t budge anymore. They said this was the final offer.
Is there any leverage I should try to apply to get this loaner deal closer to what would make it competitive with a new car (e.g., a larger discount or incentive adjustment)? I have a slightly higher deal from another dealer for a new x3 with M Sport Package that I liked more
Why would you want to make a loaner “competitive” with a new car? The whole point of leasing a loaner is to save a significant amount of money over a new car. Not “compete” with it.
A lot of dealers these days are opting to CPO/retail sell loaners and actually scoop some subsidy money rather than give it up to make a lease competitive against a new car.
I’d love your input on this lease deal I received for a 2024 BMW X3 sDrive30i loaner with approximately 8,000 miles. The car is Python Blue with the Black M Sport Package , and here’s the full breakdown of the deal:
MSRP (Sticker Price): $56,685
Selling Price: $46,685 (before incentives)
Manufacturer Incentives: $3,000 total ($1,500 Loyalty, $1,000 Incentive, $500 Military Bonus)
The way this reads, is that their should be $853 in positive equity and not negative equity. If it really is negative I would write a check for it vs paying interest and taxes on another $853.
Absolutely never assume base MF, people with 800+ credit scores get marked up money factors all day long. It’s one of the many ways a dealer can make a profit.
Did the RV take into account the loaner miles? I assume it did since it appears as it came from the dealer but something I would double check.
Agreed, but on a 39 month lease, it (currently) must be base MF, it can’t be marked up, but that may not stop a dealer from quoting it with a markup, and then lowering the selling price come contracting time.
