psp219
October 2, 2019, 9:05pm
1
I’ve got a dealer I’m speaking with to lease a 36/10k on a BMW M5.
The residual I’ve looked up on the internet is 60%. He’s not willing to come down on the selling price anymore but he’s willing to increase the residual to 62%. I thought the residual was set by the manufacturer? How is he able to do this legally and how will I get burned if I accept this deal?
The RV is set by BMW dealer can’t fudge that.
1 Like
psp219
October 2, 2019, 9:09pm
3
That’s what I figured. I’m assuming there’s something sketchy going on here?
Giving you a $1000 out of his own pocket would be sketchy. This just shouldn’t be possible.
1 Like
There is likely a misunderstanding
3 Likes
renren
October 2, 2019, 9:15pm
6
As a dealer they cannot change the residual. The contract would be outright rejected by BMW.
psp219
October 2, 2019, 9:16pm
7
My thinking is that he’s doing this to get me into the shop and then change the terms when I get there to what he had before.
Just tell him straight up that the residual cannot even be changed since it is set by BMW.
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Unless he is dropping the mileage on the lease?
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mllcb42
October 2, 2019, 10:03pm
10
It’s easy for him to inflate the residual by 2%. He just changes from a 15k per year lease to a 12k per year lease.
5 Likes
Jon
October 2, 2019, 10:05pm
11
OP stated the terms as 36/10k though. Not sure if BMWFS allows 5k/yr for the M5.
1 Like
Tf92658
October 2, 2019, 10:44pm
12
Good point, I didn’t catch that
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mp11477
October 2, 2019, 10:53pm
13
7500 is the minimum, and it’s only available on the 7 series and i8 IIRC. It’s not available to all cars.
1 Like
AB26
October 2, 2019, 11:22pm
14
You can get 7,500 on any car now.
As everyone else said they cannot change the residual.
2 Likes
mp11477
October 2, 2019, 11:42pm
15
When did they change that?
vhooloo
October 3, 2019, 12:37am
16
When bmw realized they had too much inventory and needed to start leasing out to 22 year olds at 50% debt to income
5 Likes
kobey
October 3, 2019, 7:43am
17
Is this true? Since when?
The 7500 miles only available to 6 series, 7 series, 8 Series, i8 and X7. (At least in CA).
2 Likes
AB26
October 3, 2019, 1:06pm
19
FL thing I guess I can do 7500 on any car.
1 Like
max_g
October 3, 2019, 3:06pm
20
@AB26 you need to be registered as either a dealer or a broker.
1 Like