I think it was 9% off MSRP if I remember right but yea, probably could have pushed harder and should have considering the new models are out in 4 months.
Anyway, thanks for the info (that which was useful anyway).
Thanks bilious.
I’ll look into that when the time comes.
Can I ask, how do you get reasonable monthly payments on a 56,000 car without putting some money in?
Yes, I could have financed but I don’t want to own this car for 10 years.
I seriously think this guy is trolling.
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$0 down, $560 a month would be reasonable.
For your payments you could get probably slip into an M3 (in LA). Or you could spend $0 down and $450/month for an Infiniti Q50 Red Sport
You drove a car, fell in love and where blinded by that euphoria. It happens. The important thing is this isn’t a financial strain on you. Just an expensive mistake.
Nope, he won’t have any more equity than anyone else who got a 3 series lease recently. The residual percentage is the same for everyone (roughly).
I leased a 58K Q50 Red sport for 445/month, with $0 DAS. As I mentioned earlier, you could get a Guilia in the ~.9% of MSRP range. In my opinion, the Guilia is a much better car than the 3 series.
Check your paperwork to see if there is a mistake. Could you make an argument that you were expecting fair value in cash for your trade? It would be a fair, not great deal if you were refunded the $6700 for your trade.
eeeeek! Whatever you do, do NOT think about what other exotic machinery you could get for $836/month!
That would keep me awake at night for the next 3 years.
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Make sure they give you the base money factor and do some negotiating. It would definitely be worth your money to hire a lease broker next time. You’ll save a ton of money. Just enjoy the car. It doesn’t matter what you paid at this point,
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Ok.
I will see use a broker next time.
I was not even aware that was a thing to be honest.
I’m learning, and yes I am definitely going to enjoy the car!
I have read all the comments and totally appreciate the info. I will hire a broker next time. I don’t know how you guys do these deals. I used all the calculators and thought I did ok lol.
At the very least, yes it’s a payment I can afford and although it sounds like I probably blew 6-8 grand (which doesn’t make me feel good)… i’m going to forget about it now.
I blew it, ha ha.
Can’t get it back and I will 100% use a broker next time.
Appreciate ALL the comments, and if it makes anyone feel any better… I promise you I would have gotten a far worse deal if I had not come here first.
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Hey, would you mind explaining that to me…
I thought having a higher residual was a good thing, that it meant lower payments because I am paying on less car.
I’m not trolling or anything like that, truth is I don’t know what the hell I am doing. That’s about it in a nutshell.
I was totally stoked, thought I did well. I can see I did not. I simply do not understand how you guys do what you do. Nowhere, and I mean nowhere do I see any information that allows me to think I can lease a $60k car with no money down for $550/mo.
I don’t understand how the math works on these deals, and am 100% committed to using a broker next time because I clearly am pants. I was totally shocked to hear that I did THIS bad.
I mean, like I feel like I probably got one of the worst deals in the entire country right now. It sucks.
I see all these numbers flying around and I plug my numbers into the calculators and they come up right for what I did… so I’m really no better off now than I was before as far as knowledge goes.
One thing I know, never put money down at all on a lease. I have learned that. I mean, could I have asked for them to pay ME?
They took my car as a trade, could I have asked them to give me the cash AND the car?
…and just walk out with a new car and a lease payment?
That blows my mind. I never thought it possible, and even if it was… why would the lease payment not be like $850 a month for a $57k car?
Where did I screw up?
Is this because the residual is too high?
I have no way to negotiate that, all I have is the mf, the price, and what I am putting into the deal.
I need a remedial basic car maths lesson because i’m 100% lost in the sauce as to why I did bad.
I see jon1 saying he leased a 60k car for $445, no money down. I believe him, I just don’t for the life of me understand how. I don’t even have the frigging words in me to express how dumbfounded I am.
For example, using this formula…
Any lease that costs less than $125/month per $10,000 worth of vehicle is considered a good lease deal. Anything below $105 per $10K is a fantastic deal.
IF (“Real” Monthly Payment / MSRP ) * 10,000 is less than $125, then it’s a good lease deal
Using this forumla in the negotiated price I get $102.71 - which makes me think I did alright, but clearly I did not. I know I screwed up by giving them money, now I know - NO money down on a lease.
I want to understand this. I would very much appreciate if someone would share the secret with me, beyond the fact that I just suck at this game… I feel like a blind man in a library.
I got the dealer to give me an extra $1500 over what any other dealer would give me for my trade in car, hell I wouldn’t even buy it for the price they paid. If there was a damn class on how to do this crap, sign me up.
OK, you’re asking a lot of questions here but I’ll try to answer all of them as best as I can. Normally, I would say to read through the forum, because all your answers can be found in hundreds of past topics, but since you’ve already bought your car, I’ll just go ahead and tell you 
First of all, having a higher residual is a good thing. High residual + low MF = good combo. However, a higher residual, especially if it is artificially inflated like BMW financial does (in order to lease more vehicles), will usually be higher than the actual value of the car after 3 years. For people who only lease, this doesn’t matter at all, and again, is a good thing, since they can just move on to another car. In some cases, however, people can still get good deals on cars with low residuals, and then after 3 years, sometimes they can make a couple thousand on the car.
Second, you definitely have not looked around, otherwise you would have realized how simple it is to get a low payment. You just have to negotiate a significant dealer discount, before extra incentives. You didn’t post exact numbers, but from your payments, it looks like you maybe got 3-4% off MSRP. I’m not quite up to date on the BMW market right now, but 12+% off on a new car and 20+% off on a loaner have been achieved in the past. Your MF is also marked up to the max, from .00166 to .00206. If you had searched Edmunds, you would have known that.
Third, you never should negotiate a trade in alongside your actual deal. Negotiate the regular deal first, then have them appraise the trade in, and if they offer you a fair price, ask them to write you a check for the vehicle. There are some exceptions, such as adding equity to a lease to reduce the taxes, but in general, you want to receive the money from your trade in separately from the lease payment.
Overall, like I said in my last post, if you like the car, and can afford the payments, don’t beat yourself up too hard over this. Just have fun driving it, and in 3 years, do some research before buying your next car 
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Thank you so very much for this answer.
I see that my biggest mistake was doing the trade, and yes it probably is the worst deal in history.
I see it now, my calculation puts me at like 1,655 where anything under 125 is good.
Yup, I get it.
Ok, I’m going to let it go and just drive the car. But consider this blockhead enlightened.
No money down,
Never do a trade deal at the same time as the finance deal.
Understood.
Don’t be too hard on yourself. I know of someone who leased a Mercedes S450 for $634/month. After putting $25,000 (!) down as equity from a trade.
Enjoy the new ride and learn for next time!
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MF might be right because of the the credit score the OP posted. For BMW I believe you need your credit to be over 700 for the base MF, OP said they were around 680.
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Not gonna lie, it’s eating me up.
I wanna drive this damn car right through their front glass window.
Obviously I will not do that, but man… I got played.
I gotta just turn this thread off or I’m gonna lose it.
I wish you all well and god bless.
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Stupid idea to put the trade equity as the down but effective payment is $1328/mo for a 36 month lease. Is that not close to a s450 lease deal w/ only first due at signing?
No clue. Not familiar with MB S leases but I think it’s probably a bit high. The CCR absolutely masked the actual cost of the lease. They could have hidden anything in there and $25k down would have masked it well.
Yowza…as someone who previously leased a 340i, this hurts quite a bit. Enjoy what you have though.
Hey,
I went back to the dealer and they gave me three options.
Simply buy the car at $879/mo
Get 6k back and lease at $710/mo
Get 3k back and lease at $589/mo.
Can anyone tell me which of these is the best option financially?
I’m truly a spectacular idiot and I know I will screw this up, but I am happy hat maybe I can make this better. I’m thinking just buy the car right, finance it?
Quick math I’d take the 3000 back and 589 per month. Each 1000 is about 30 a month. They are giving you roughly 40 for each $1000. DO NOT BUY!!!
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