Folks,
This is my first time leasing a car and dealer sent me this quote. Based on the numbers that you see below, could you please suggest if this is a good deal or I can negotiate further?
MSRP - 67,720.00
Discount - 6,772.00
Rebate - 2,000.00
Adjusted Price - 58,948.00
Monthly lease payments for 36 months for 10,000 miles - $671
Residual Amount - 41,309
how much out of pocket at signing?
The out of pocket is at $5000
Way too much out of pocket. Think about it this way $5k/36 = $138.89, so your effective payment is $809.
In terms of the rebate, do you qualify for any other incentives:
Loyalty = $2
Corp Fleet = $1k
North Eastern sweepstakes = $1k
Also, what MF are they giving you? Base is .00152, but they can mark it up to .00192.
Where are you located?
Thank you for the inputs. I qualify for corporate fleet only. I’m located in Atlanta area.
You know that the new tax law for leasing in GA goes into place on Jan 1, so you should sign your lease on Jan 2. It will save you a considerable amount of $.
Also, you should be at $3k in rebates = $2k holiday + $1k Corp Fleet.
I would submit a credit app and lock in the MF, Residual, & Holdiay Credit. Then I would lease on Jan 2nd to save the extra taxes.
If you do that, you can lease this car, based on the info you have above for $653/mo w $2,553 up front:
Thank you for your help. Much appreciated,
Anytime! Good luck.
If you have any issues with your dealer/CA, I’d be happy to put you in touch w/ my CA at PassportBMW in Maryland. They will give you a solid deal.
Thank you. I will keep you posted. I’m going to the dealership here tomorrow.
I went to the dealer today but unfortunately that car was already sold out. I liked another car 2018 340xDrive and here is a quote that the dealer offered to me.
Please let me know if this is a better deal.
MSRP - $56,535
Sale price - $45,900
Residual - 61%
Money factor - .00152
Down payment - $5000
Monthly lease - $399 per month for 36 months and 10k miles
BMW stopped making the 535i in 2016. Starting with the new 2017, they only offer the 530, 540, and 550.
You may want to look into this prior to leasing that car you are looking at.
You’r right. Sorry, it was a typo on my end. Fixed the subject line.