Hi guys! I just wanted to know if this is a good quote or not that I recently received from a dealership.
36 months lease / 10k miles a year. This is a BMW 330i with the M Package and Convenience package. This is in Northern California.
MSRP: $50,495.00
Savings: $6,061.16
Customer Rebate: $1,750.00
Selling Price: $42,683.84
Sales Tax Estimate: $4,054.31 (9.25% Tax)
Grand Total including all the other fees that I’m too lazy to type: $47,943.15
He showed me invoice price: $47,625.00 - claims to be a little over $3000 below invoice.
Money Factor: 0.00182
Residual: 61%
Offer: $1480 drive off & $550/month including taxes and everything.
If I am able to get a cosigner with loyalty rebate: $520/month
Update: Then couple hours ago… he told me if I am able to come in, he’ll do $500/month or $530/month without loyalty all in and $1,800 drive off.
Is this a good price or are there better deals to grind? Not sure how low BMW can go or am I reaching close to the rock bottom? Or should I play the waiting game for deals until there are better incentives or deals? Not in a total rush to get a new car if better deals comes out.
– Update2: Picture Posted / Note: This was the old quote before he offered me $530/month & $1500 drive off –
– Update3: I have another offer from a dealership, but MSRP is higher at $52,620 ($2000 more). Drive off is $1500 and $566/month including everything. Even though it’s more expensive, I believe this might be the better deal since it has everything that I wanted.
Something is amiss here. Sales tax in california is on the lease payment, not the purchase price. If they’re rolling $4054 back into the cap cost, they’re doing something very weird.
Was that grand total cost shown to you prior to discussing a lease?
Also, the MF is marked up to the max and you should verify incentives with edmunds.
Appreciate everyone’s feedback… but is it a good deal or no? Money factor seems suspicious but other than that… if we can get money factor down a bit, might be save another $10-20.
If you’re not in a rush, don’t pull the trigger yet. This really isn’t a good deal and you won’t regret passing on it. Neither is the second option ($52k car). Don’t pay upwards of $500 for a 3-series — there’s not a lot of support right now and that may change, but you’ll have such incredible buyers remorse down the road if you buy one of these. Especially on a marked up MF and random dealer add ons. I am confident you can do better with another car/dealer this month, or any time over the next couple months if you’re patient.
It’s ok, but not great by any means. If you’re not in a rush, I’d tell them you’ve thought about it and want to roll most things into payment— only first month DAS and $475/month. See what they do. Tell them business today or you will need to just keep looking and thank them for their time.
I’ve definitely gotten multiple quotes from different places. For a car at MSRP $51,000 or higher, it looks like out of the 5 places I’ve went… none of them refuse to budge below $520 mark @$1500 driveoff. It would be $490 if I have a loyalty, which I don’t.
Edit: Usually one of the first question sales person ask is whether or not I have a BMW. Maybe I should stop telling them that I don’t have it because it is an indication that I am a first time BMW buyer. If they knew if I am BMW owner, maybe they’ll stop playing games.