So I just got back from the BMW dealership and I am a bit disappointed with the quote that I got based on what I have been reading here. In this thread someone claims that they got a 62k MSRP car for 290$ a month (BMW 530iX lease ~ 263 p/mo updated with lease sheet).
I went into the dealership wearing gym shorts and a t shirt so I am not sure if this affected the quote I got but I was quoted 718.99$ a month for a demo/loaner car with 3,200 miles on it sign/drive. MSRP was at 62,450 dollars and I really feel bummed out about my trip to the dealership although I am sure there is much I need to know still. Is there any advice on how I can get a similar deal to the one I posted or even 100$ more? I live in the midwest if that makes a difference. Lease term was for 36 months. Thanks.
Below are all the numbers as I was given on paper.
MSRP: 62,450.00
Cap Cost: 56,179.00
Cap Reduction:3,250
Drive Off: 3,250
Lease Term: 36
Money Factor: 0.001850
Residual Rate:58.9051%
Residual: 36,786.25
Tax Rate 6.00%
Gov Fees 1.00
License fee 97.0
Doc Fee 220
Bank ACQ. FEE 925.00
Deal Summary
Max Advance 130% 81,185.00
Net Cap cost 86% 55,085.99
Net Residual 36,786.25
Sales Subtotal 54,572.99
You don’t just want into any dealership and expect to get one of those deals. You need to do a lot more research if you want to get a unicorn deal like that.
I don’t need the deal of the century just something that isn’t completely robbery. I have only leased Chryslers/Fords before with no knowledge of leasing and they usually give you an equipped car out the door for 250$. I just don’t feel like this car was 3x more car than a loaded fusion or a 200. I have read here that you are supposed to negotiate down the MSRP and other things before hand, I really just went to the dealership to check the car out and see what they would throw at me.
As I stated, you need to do more research before attempting to get anywhere close to that deal. Do you even qualify for the same incentives as that poster? Do you think he paid a marked up MF? Did you compare your sales price to his sales price?
Yeah you’re not getting anything close to a NJ or CA BMW deal in the Midwest. Especially not walking into a singular dealership and expecting them to hand you a $260/mo 5 series without negotiating. What did you possibly expect???
Your best bet is @kubikdanon and he can vouch that these deals simply aren’t close to replicable in the Midwest. Or work with a coastal dealer and have the car shipped. Ultimately no one is going to do the work for you unless you pay them to.
It’s good that you walked into the dealer. Walk-ins are usually the ones that are taken advantage of. As others have mentioned, do your research, play with the calculator based on each individual cars MSRP, know your MF/RES, rebates you qualify for and pick a car online. Then call/email dealers and expect 9/10 will think your crazy.
If you don’t feel that a BMW is 3x more of a car then a loaded Chrysler for Ford then you need to re-evaluate these cars. A BMW interior and engine is so refined compared to both of those. The solid feeling, quietness, refinement, ride is alone 3x+ better.
But to each their own, if youre trying to be in the 250 range then you’ll have to look at some Chevrolets or buying a Hyundai.
But if youre willing to paymore then look at some BMW deals and email and call them for a vehicle they have listed with a similar MSRP (use CarGurus) and with the discount of a similar deal.
Go on Edmunds and get the MF and Residual for that model. Then get them to give it to you at that base rate.
First of all, you have to account for the fact that the person who got that deal had loyalty, grad rebate, and OL code and you do not That’s easily ~99/mo right there (assuming you qualify for conquest). Second of all, it’s really hard to get 20% off 5 series So you’re definitely not getting an offer like that when you walk into a dealership
As @Muwa said below, push for 15-16% off with base MF and you’re getting yourself a very decent deal.
Well your MF is marked up and your discount is pretty weak. Standard MF is 0.00145 and you should be pushing for a 15% discount to be realistic and asking for 18%. Additionally you should look up what incentives you qualify for. I think for a “give me a number” price, you didn’t do terrible, but there is a lot of room for improvement. Try taking a look at the Read ME First guide to get a better sense of what all goes into leasing and go from there. Good Luck!
I am the one who got the deal for 263 p/mo for the 5 but like @kubikdanon said I had all those incentives. On a 24 month lease
Loyalty= 82 dollars per month
College + OL = 82 more
So total 164 p/mo of just Incentives. If you were able to get the 22% msrp pre incentives which I did even then your payment would be 430 p/mo with 1000 DAS
Best bet to be honest would be to get a lease transfer for now so at least you will have loyalty on the next lease, when it comes closer to assuming a new lease I would search the Ol forum and get an OL code of availible
It’s all about the market your in, I’m in NJ and dealerships here don’t give BMWs let alone 5 series which sell easily for that much of a discount either however there are many dealerships to chose from and I have easy accessibility to NY and Pennsylvania as well as Maryland so that makes my search and negotiation radius a bit more also lots of ups and downs
I appreciate your help. Would 500$ a mo be realistic? As far as lease transfers go, I am a bit of a skeptic on that as I have never done it before and my understanding is that most people on leasetrader are trying to get rid of their bad lease.
I am open to having the car shipped or even flying out to get it if need be.
Go on the lease transfer forum on this site, yes 500 maybe be doable but you will have to be willing to travel to get that deal, best way would be to email dealerships with a stock # your interested in usually choose the one with the biggest listed discount and tell them what you need them to be at (works backwards on the LH Calculator to see where your monthly needs to be) after buttering them up, make sure you always mention Sales Price PreIncentive not just Sales Price
After reaching that SP I would then aim for Base MF assuming your credit is fine
You need to either learn how to do this yourself or hire a broker. People have already given you advise as far as what to shoot for in a selling price discount. We can’t help you blindly throw out monthly payments.
That’s easily ~99/mo right there (assuming you qualify for conquest). Second of all, it’s really hard to get 20% off 5 series 
So you’re definitely not getting an offer like that when you walk into a dealership