Is this lease deal good? 2022 BMW 228i Gran Coupe 4 door (FL)

Ask the Hackrs
, ,
1

MSRP=$38,230
Discount=$3,215
Rebate=$2,500
Selling Price=$32,515
Net Sales Price with taxes and fees added=$35,019.36
36 months / 15,000 miles
Downpayment: $2,500 (includes capitalized cost reduction + 1st lease payment)
Monthly payment: $422.87
MSD = $2,250
Money factor before MSD: .00123
I forgot to ask for the residual value, but for a car like this it should be 57%-59%. (i’m guessing since I have 15,000 miles it would be on the lower end of the range)
Total overall cost of lease = $17,300.45
Credit score=750

List of Fees (these are incorporated into the downpayment and monthly payments listed in addition to the sales tax of 7%):
Doc fee=$899
Acquisition fee = $925
Registration = $175
Rental surcharge = $60
Tire fee= $5
Battery=$1.50
Lemon law=$2
Electronic filing=$149

Does this seem like a pretty decent deal that I negotiated? I originally was looking at a total lease cost of $17,022 for 12,000 miles but I got them to give me 15,000 miles a year for only a small increase after some negotiating. I am guessing in normal circumstances I could probably get the numbers lower, but for this current time it seems like I am somewhere within target range. I even managed to get this one in the color I want (and thats asking a lot in COVID times).

I had terrible trouble with the Mercedes A class despite loving the car, as there is such a shortage of them. My total lease cost would have been $22,500 (36 months,12,000 miles) on a former courtesy vehicle (a new one would have been a few thousand more). I love that car but I couldn’t stomach overpaying so much to lease it.

A Honda dealership wanted me to pay about $430 month with $1,000 down for a 2022 Honda Civic EX (36 months, 12,000 miles). I’m guessing if I really wanted to pursue that car I could have gone to more Honda dealers and done better on price, but this car seemed to involve pre-ordering and waiting for it and I technically need a car now so I didn’t love that option.

Acura wanted to charge something similar (a little more) for the ILX which, in my opinion, is a somewhat unimpressive and aging car that has a much lower MSRP than the BMW. One Acura dealer did tell me to come back in September because their incentives would be better than in August and they could get me a better deal, but I didn’t love the car and wasn’t sure if it was worth saving only $1000-$3000 off my total 36 month lease cost versus BMW.

2

Why not do 7 MSD and less cap cost reduction?

As for other cars, forget the ILX. check out the TLX and Volvo S60.

1 Like
3

What were you basing this lease cost goal on?

1 Like
4

17,000 can sure get you into some nicer sedans . Acura TLX, Lexus , Camary v6

5

I am curious, what makes the Lexus (IS?) and Toyota Camry nicer? The Lexus seemed to be a similar price or more and the reviews seem mixed. I would consider the Camry in a different class of car, it is a bigger car and not a luxury brand. I find them kind of boring. Also, I am a woman and I really don’t care if the Camry is V6 lol, I would actually rather have a 4 cylinder with a bit better gas mileage.

The Acura TLX is a nice car, my dad has one so I guess I didn’t want to get the same thing as him but maybe I should have priced it out rather than an ILX.

6

It was what I had initially negotiated them down to for a 36 month, 12,000 mile lease for the same car. The total lease cost was going to be in the $19,000 range with the original numbers they gave me. I got them down about $2,500 to $17,020.

7

I’ll see if putting down an additional 2 MSDs would make much of a difference in the down payment. The money factor is not going to change that much so I think it might not be worth it to tie more money up to save only a little.

I was also thinking about asking to roll some of the downpayment into my monthly payment but that would add on to my total cost a little, but may be worth it.

8

Generally, it is recommended that you set your target prices based on something. The generally means looking at pre-incentive discount targets, normalized for buy rate, and then applying the appropriate lease programs from there.

Right now, your target price is based on, well, not much of anything of value. You’re taking a dealer offer, which isn’t grounded in anything, and subtracting off a nominal amount, leaving you still not based on anything of value.

If you want to establish if this is a good deal, your best bet is to step back and establish a target price with a stronger foundation. You always want to have a solid understanding of what a good deal is before talking to dealers; after all, how can you effectively negotiate without knowing where you’re trying to get to?

9

Just the looks.The interior as well isn’t off by much either. I didn’t know you needed a smaller car. So I guess the 228i is good for you .

image
image640×480 22.5 KB

image
image880×588 216 KB

10

If she does a 1 pay lease wouldn’t she save more money?

11

What do you think about comparing it to the lease prices BMW advertises? I did look at what their current promotional lease advertised pricing is for the same car ($16,564). I got pretty close to the total lease cost they have advertised and that promotional pricing doesn’t include tax, title, fees and it is based on a lease of 7,500/year miles rather than 15,000/year like I have. Also, the MSRP of my car is about $585 higher than the MSRP used in the promotional lease ad pricing.

I was thinking with what I have experienced with trying to lease a car post-covid I probably am not going to do much better than near what is advertised at a lot of brands. Is my thinking wrong? It did seem like I had about maxed out on how far the dealership would go.

I used the leasehacker calculator and it ends up close to matching what I will pay when I put the inputs in. All the other lease deals I got for the other cars the leasehacker payments/total cost was lower than what was offered to me and I could tell they were a bad deal.

12

Personally, I think this is pointless. You’re trying to establish your target prices based on what the market supports with dealers that are actually selling products, not off of what the manufacturer thinks is the lower common denominator.

Head to the marketplace and shared deals section of the forum here and pull some pre-incentive discount numbers from broker listings and recent completed deals.

1 Like
13

That may be true, but does it max out how are the next dealership down the road will go? Or the next one after that? Maximizing your lease value rarely means focusing on only one dealership.

14

228i GC is a lot smaller than Camry, I had it for a couple month, and it’s very MINI like(peppy).
Even it has less power than Camry V6, it’s still more fun then the Camry on the twisty road, due to the size and the suspension setup. Road noise is a lot more noticeable though, not a long car for long distance travel imo.
Camry do give you more standard feature, such as ACC…

15

Also also depends on where you live. In Florida a 228i would be good because it never snows. A 228i in the northeast would be no good.

16

Oh that’s right! if there’s snow, better option with xDrive.
Not sure if OP want to shoot around with other dealership.
228i around me is the less popular car for some reason, dealers has a lot more of those compare to the rest of the modal.

17

It is. I’ve never seen a single 228i in nyc or Long Island . A lot of 330i’s though.

18

You can save what you would pay for the money factor (borrowing money), but it’s not so much savings that it is worth taking the risk of paying all of it upfront considering you can never account for what may happen to the car.

19

A one pay does not risk the upfront money like a large cap cost reduction does.

20

This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.