PLEASE HELP - IS THIS A GOOD DEAL? would like lower monthly and less down payment. Wisconsin lease - 2020 BMW 230 i drive 2 dr convertible. demo with 1525 miles MSRP 47935; discount 7940; rebate 2000; doc fee 300; acquisition fee 925. This is what the dealer offered 10,000 miles/ 36 months/$473 month with $2,000 down payment.
Please include a lot more info. Breakdown of incentives. MF, rv, try filling in the calculator with all these details so your deal can be evaluated
Hi, what is MF? rv must be residential value? I’ve never leased before.
MF is money factor. Essentially the interest rate bring charged. I’d recommend reading leasing 101 as well
Take a step back and please read leasing 101 before you talk to a dealer again
Stop talking to dealers until you have a MUCH better idea of what you’re doing. Getting a good lease deal is about being educated about the deal… that takes having a solid understanding of the fundamentals of what goes into a lease.
Talking numbers with a dealer is for finding someone to do your deal, not for finding out what a vehicle should lease for. You should never find yourself with a dealer offer in front of you asking “is this a good deal?”
MSRP 47,935; discount 7940; rebate 2000; adjusted price 37995. doc fee 300; ert fee19.50; title fee 270; tax 142; acquisition fee 925; residual $25,149.
Dealers lease numbers are 36 months/10,000 miles $473 month with $2000 personal money down payment.
This is a demo with 1,525 miles on it.
Any advice? Thank you in advance.
Yes. Stop talking to dealers until you have a much better idea what you’re doing. People that are suggesting that aren’t doing it to be an ass, they’re trying to be helpful. Often times people post here new to leasing without having spent the time learning what is needed. They take the “step back and learn” comments as an insult or an attack. It’s not that. We’re trying to help you build the foundation you need to be successful, and that means stepping away from focusing on the specific deal for a bit.
You’re missing key information in your data there. What MF is the dealer charging? What is buy rate? Have you confirmed rv and incentives with edmunds?
What is your target pre-incentive discount that you’re shooting for?
Why so much money down?
I’m waiting for dealer to get me the missing information. I’m trying to get a payment under $400 a month. I don’t want to put anything down. But trying to figure out how to get a good lease. I have never leased before…
You stop talking to dealers and spend more time learning. Read through the leasing101 section here a few times, ignoring the section the 1% rule. Work through using the calculator and how things go in. Research through comparable deals to determine your target pre-incentive discount. Go through the BMW wiki to maximize your incentive opportunities.
You should know EXACTLY what it’ll take to get you under $400 /mo and if that’s a feasible target before you ever approach a dealer trying to get there.
Will do. Thanks. The dealer informed me the MF is .00139 and rv is 53%.
Make sure you compare that to buy rate as they’re marking it up and costing you an extra $1000 or so there.