Hey I’m Krissy - I want to lease a 2023 x4 M40i but I’m not confident in the deal. I don’t have SURE #s since they haven’t released them yet but I have a rough deal. See pic attached for money breakdown.
Again these are approx -
MF = .0023
Acquisition Fee = 925
ZERO DOWN, USING TRADE IN FOR NEXT LEASE
The monthly they gave me looks better than the calculator (but I could have done that wrong) but the GA TAVT is much higher on the deal, it’s almost double.
I’m researching how to check MF but yea I checked the residual. I’m new to this so it might be this simple but when I break down the residual with the amount of months the monthly looks to make sense.
I haven’t shopped the deal yet, I’m going to try to find a broker and hopefully that would work out better.
Keep the deals separate. If you total the new lease you’d lose the entire down payment. You can still sell it to this dealer, but have them cut you a check.
And then go do your research: get tons of quotes for the old ride, and confirm the particulars of what a good deal looks like. Then come back to confirm what you’ve learned and then go do the deal.
I’ve gotten three quotes on my car and BMW matched one of them by a couple of dollars. Below about 3500-4500 under market price.
I’ve only compared month costs I’ve seen on swapalease, other lease forums of peoples deals, broker price lists and I’m going to go to the only other BMW in my area and see if I could get a competing offer. We shall see.
It is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, etc.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
Read Leasing 101 to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!! While you’re at it, be sure to watch the LH video to brush up on how to most efficiently use the resources here.
Pick a specific vehicle that you want to target
Gather the current MF, RV and incentives from the LH Calculator - Lease Program Lookup or Edmunds forums for your zip code
Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
Plug your numbers into the LH calculator, and use a pre-incentive discount similar to what you have seen
Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
