I’m in Texas and I’m in the process of buying a new BMW m240i. I went to Edmonds and was told the money factor would be 0.00123. However, on my lease quote, the dealer showed they are using 0.00165.
I want to know what leverage I have to get them to honor the 0.00123. Obviously I know I can walk away from the deal. However, given how in-demand this car is, I’m sure they’ll find someone else to buy the car the second I walk away from the deal.
Can I report the dealership to BMW Financing and get corporate to force the dealership to honor the 0.00123?
The dealer is allowed to mark up the MF if they choose, up to a specific amount. This markup is well within their right. If they won’t lower the MF and it’s a deal breaker for you or preventing the deal you want, move on.
That being said, you’re not going to find a good deal anywhere on this car in the current market.
Welcome to the world of leasing. Dealerships are allowed to markup money factor for profit. Sometimes a point or two. Not much you can do but counter or walk. You should also be sending offers rather than asking for them.
Share your deal sheet? Look at your total deal, rather than a specific lever. If they are giving you a good discount, does it matter they are offsetting it with the MF? If you are not tier 1, your MF will also be bumped up. Dealerships have no obligation to offer you buy rate.
Some dealership groups (ahem, Autonation) will almost certainly mark up the MF, no matter what anyone says. But they will find other ways to make a deal happen.
In this case, you’re trying to pull a lever where you have no leverage. You will have better success giving them the lease terms you want, based on the factors you want (rather than trying to dictate line items) to the dealer. Otherwise, find another car/dealer
Doesn’t seem like you’re familiar with the new BMW m240i. BMW just released the 2nd generation in November and because of production issues the car is crawling its way to dealerships.
You simply can’t find them on the lots of any dealerships. If you try to order one, there’s at least a 3 month lead time before the plant will even start producing the car. I ordered mine back in Sept and it’s finally arriving at the dealership this week.
So I’m paying full MSRP and there are no cash incentives being offered at all by BMW.
Given the poor residual and rate I wouldn’t lease this car if you can help it and would instead finance it. (They may be more willing to do buy rate on a retail contract)
You can so as much about a marked up mf as you can them not giving you the discount you want… take your business elsewhere if the deal isn’t what you want it to be.
