So I’ve never leased a car before, hell, the car I have right now is the first car I’ve ever bought 3 years ago. I’m 23. I currently have a 15 328i at 97k miles. Looking to get rid of it by the end of the year but wanted to explore possible options. Take a look at the pic and let me know what you think. It will include my trade in.
A few things I noticed, I was given an excel sheet with vehicle’s to pick from and this one had a selling price of ~$38,900 but showed differently. I brought it up and sales guy tried to say that would be after the rebate/incentives/etc and wouldn’t budge on changing the actual selling price of $40,255. I tried to ask for a complete breakdown of how some totals came about but salesman just kept avoiding it. I also stated for NO down payment but I saw that he put on there $3000 “Customer Cash” which I assume is down payment.
From here I pushed to know what the exact drive-off fees were with 0 down and he never gave an exact amount and kept on saying how the cash down is required and included payment for fees, etc. Idk seemed really sketch. Yo I just need insight and advice lol idk what I’m doing.
Stop talking to dealers. All those emails you sent out? Delete them. Delete the email address from your address book. Unplug your wifi.
Spend a long while reading through the leasing 101 articles on here. Take it all in, except the one that talks about the 1% rule. Forget you ever saw that one.
Once you have that down, pick a vehicle or two you’re interested in, gather the RV/MF/incentive information from Edmunds and research comparable deals on here to develop a target pre-incentive discount for each vehicle.
Take those numbers and determine what your target deal is for each vehicle.
Then, and only then, think about reaching out to dealers to find one that will do your target deal.
Talking to the dealer is for finding someone to do your deal. It is not for finding out what the car might cost. If you don’t already know exactly what the numbers should be before you reach out, you’ll get stuck with offers like this to choose from.
Yeah I’ve researched all of that. Just not too sure how I find vehicles. Are all new / loaner 2020 model year eligible for lease? I know the lowest MoneyFactor for BMW is .00118 and 61% RV from the post and looked at other deals here. Idk maybe it’s the negotiating part because I had to fight with this guy bc I wanted to lease instead of finance.
There is a “BMW wiki” that breaks all of this down. 2020 loaners with less than 5k miles are leasable. Btw, RV is based on your annual mileage allowance.
On a dealer’s website. Some dealers will also have a separate section (on their website) for loaners/demos.
As @mllcb42 stated, you should stop talking to dealers. There have been several 330i deals posted in the “Shared Deals” section of this site. On average, you should be getting a pre-incentive discount of 10-12% off MSRP on a new BMW. Edmunds is your source for confirming current incentives, MF and RV.
If a dealer is not being transparent, move onto the next one. Separate out your trade from the lease.
Here’s the wiki. ‘19 MY support ended today. June programs will be live soon. The wiki goes over executive demos and loaner cars, mileage and RV rules.
Good job on the rv and MF. Figure out if you can get a summer drive 2020 code in the west coast. Also you’re rolling 5k ish negative equity into this, anything you get will be rough, is your car starting to fail, or is it still running?
Sorry for the delayed reply. I’ve been working with a dealer but their inventory is sort of terrible at the moment.
As for my car, it’s perfectly fine. 2015 328i, I have had 0 issues with it realistically. Only issues were thermostat, valve cover gasket leaks(replaced twice), brake line clip breaking, and 1 time a rat chewed on my power steering. All of the issues were covered by my extended warranty besides the power steering.
It’s hitting 100k and my warranty ends in December so I’m sort of trying to avoid paying for future repairs by getting into a new car.
This was also my first car so I’m still new to the whole car buying/leasing but I believe a lease would be more favourable for my life
Haha, the legendary vegetable oil based BMW cables eh? You’ve done 20k miles per year, are you sure leasing is good for you? You really need to be under 15k miles per year to make things realistically doable.
What’s your geographical location, we can hook you up with a broker that can help if you don’t want to go through the entire process.
Oh I only drove a lot because it was my first car.
I was so excited when I bought it and to this day I love it.
I’m located in AZ. Also, a sales person at a dealer wouldn’t give me a MF and said it relies on a credit check, is this accurate? + How does credit go into a lease other than showing how responsible you are with money
I’m willing to drive out of state, pretty much explore every angle to get another BMW. Man I absolutely love these cars and I’ve driven a handful of different cars. I’ve been trying to apply as a Genius for the last 3 years but due to my driving record they can never insure me
MF can be higher with poor credit, just like interest rates on a loan. With that said, they certainly can tell you what the mf would be based on approved credit, and I’d be willing to bet if they aren’t, it’s because they’re marking it up.
Glad to hear, first cars you fall in love with, except Nissans… I regret paying for this thing… anyways, you willing to roadtrip to Cali, rent a car and pick up in SoCal?
reach out to them, they are both suited to your needs potentially if you can make it to Cali, David also has a nationwide network. This is probably the path of least resistance.
