Hi everyone… I have never leased a car and have been researching your site for the past few months. This is what my local dealer offered me on a 2020 BMW 740i X-drive for a 36month lease and 10k miles. I do not own a BMW and do not qualify for loyalty. I also asked for a 1 time payment at pickup so I won’t have monthly payments. Please let me know your thoughts on whether its a good deal or not.
MSRP: $103,845.00
Discount: -$13,846.00
Rebate Savings: -$1,000
Net Price: $88,999
Taxes and Fees: $5,168.78
Total: $94,167.78
Due on Delivery: $39,324.96
Residual Value: $60,230.10
That’s $1,092.36 month. Have you looked at broker deals? MSDs will help lower the payment. I think you can push for a bigger discount. Shop more dealers in your area. Do some research.
@sjp888 - Aim for at least a 15% pre-incentive discount off MSRP. If you are in no rush, I would wait another month for better deals, UNLESS dealer is ready to play ball.
I’m no expert, and I have done 1 pays myself, (granted only 4k, not 40k like we have here), but isn’t putting 40k upfront as a 1 pay very risky. If the car gets totaled a month later, I believe he will only get what insurance pays out, which means he could get substantially less. I would possibly consider going monthly, and then maybe add a GAP plan instead?
You are currently a little over 13% off MSRP. Counter with 16% by telling dealer you will sign immediately (ONLY SAY THAT IF YOU ARE READY TO SIGN). If dealer comes back at 15%, I would take the deal.
Does the car have all the options you want? Is it in your preferred color combination?
EDIT: Have you confirmed RV, MF and incentives on the Edmunds Forum for your zip?
It was the only black 2020 740i I could find that was within 100 miles from where I live. I could get a 2021 as well but I figured the discount wouldn’t be as big.
I think the tax rate in PA is 9% on leases. That would bring this payment up to $940ish a month and I still have to pay $5,950 MSD. I know I get the 5950 back but its held up for 3 yrs. Am I looking at this right?
