I’m looking at a few vehicles from different dealerships in the DC area and don’t feel like I’m getting a good deal on any of them. I’m getting lease payments in the $644-757 range with no money down except first month payment. I’ve read through the forums and see people getting much better deals but even after trying to negotiate on option one I didn’t get very far. I just have basic numbers for the 2nd option and am looking for some advice on how to negotiate this one better.
Option 1: 2018 330i GT from the loaner fleet
MSRP: $$49,935
Selling Price: $44,995
Rebates: $1750
Trade-in: $0
Months: 36
Annual Mileage: 12,000
MF: .00172
Residual: $29,000
Security Deposit: $0
Total Due At Signing: $644.68
Monthly Payment (incl. tax): $644.68
MF: .00221 (was not told but calculates out)
Residual: $38193 (was not told but going on the base every other deanship gave me of .6)
Security Deposit: $0
Total Due At Signing: $757
Monthly Payment (incl. tax): $757
Zip Code: 20003
Sales Tax Rate: 10%
On a side note, I don’t plan on rolling tags/registration and a few other fees into the lease. I have some money to put down but its easier for me to compare with only 1st month down.
Assuming you are tier 1 the base mf is .00152 and the max markup is to .00192. So your calculation is incorrect. But you’re correct the deals are not good.
When I was in the dealership last night the mf they started me with was .002 and went down to .00172 claiming that was the lowest they could go. I also had another dealership give me a .00221, so I felt like that was a safe assumption. I’m assuming by tier 1 your talking about credit which would be a correct, I have excellent credit.
The max they could go would be .00192, so if they realistically told you .00221, run. If you’re tier 1, you should get the buy rate of .00152. Some dealers will knock the sales price down considerably, but try to make it up on the back end with a higher MF. This deal isn’t that great though, so either hold firm at buy rate, or, again, walk.
That seemed really high and even .00172 seems high. I leased a X1 last year and got a rate of .001339. Generally, rates have gone up since then so I was expecting to get something higher but .002 was crazy.
Maybe they were trying to make it seem like they were giving me a really good deal when they brought it down to .00172. Once we got there he said he couldn’t possibly go any lower and still make money on the car.
This one was on the lot when I picked up my loaner in December. The asking price has dropped 2k since then, so there may be a deal to be had. Note that BMW Silver Spring includes rebates in their listed prices.
Not a fan of the wagon or BMW Silver Spring. I had a 2006 325i I loved but moved to an x1 with my last lease so I could put my dogs in the back. They’re 20-30 lb dogs so a 340 hatch is a great middle ground. I’d prefer the x1 to the wagon tbh.
I managed to find a 330 GT for $452/month 12k/35m earlier today so I may end up going with that. Found it late so he’ll be sending me the numbers in the morning. Thanks for all the help so far!
On a slight side note, I went to BMW Silver Spring a few days ago looking at another X1 and they wanted something around $650/month 12k/35m lease. I didn’t think the other two deals I got were great but this one was the worst. They quoted me higher off the bat and we’re less transparent than the 4 other BMW dealerships in the area. All the others at least shared the lease worksheets when we were talking beside the one I did over the phone. Maybe I got a bad sales person but the whole experience left a bad taste in my mouth.
I had a great experience at BMW of Silver Spring, but I bypassed the sales people and dealt directly with the used car manager. Did you see this deal that @nyclife posted at $359/month plus tax? I don’t know if the deal is limited to NJ/PA buyers, but it couldn’t hurt to ask.
