Hi Ya’ll I was wondering if someone could take a look at the lease quote I was given for a demo 2021 x3 m40i with 2,446 miles on the car. I currently have 4 months left on my bmw lease and I was also wondering if I can exchange the car with 3 months left?
MSRP: $65,370
Selling Price: 59,570
Add Cap items: 925
Total Tax: 2,060.35
Gross Cap Cost: 62,555.35
Cap cost reductionL 1,212.77
Adjusted CAp cost: 61342.58
Residual Value: 34,159.60
Depreciation 27,182.98
Lease term 36 months, 15,000 miles per year
Monthly Payment: 846.76
MF: 0.00096
Base Residual: 53%
Rebate: 1750
Zipcode for me is 07649
from Edmunds:
MF was 0.00086
55% residual
1500 lease credit
0.25 miles from residual
This looks like a horrible deal. And no you cannot just exchange your current car with 3 months left (unless BMW has an official pull ahead offer, which they don’t AFAIK). The dealer will just roll the 3 remaining payments into this deal, which will make it even worse.
There’s no pull ahead from bmw- some of the dealers advertise a pull ahead (“pay your last 3 months including dispo fee but not greater than $1000).
In this scenario you have a poor discount for a demo vs new (I believe many of the brokers are doing 10% on new). Part of that may be “eating” your last 3 payments and selling you the car at the higher price.
MF is marked up.
Check to see what rebates there are and what you qualify for and make sure some of that is not hidden in the discount (which is poor as it is now)
It is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, etc.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
Read Leasing 101 (Blog | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
Pick a specific vehicle that you want to target
Gather the current MF, RV and incentives from Edmunds forums for your zip code
Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
Plug your numbers into the LH calculator, and use a pre-incentive discount similar to what you have seen
Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
With 3 months left on your current lease, just order a brand new one in the exact spec you want. Will be here right about the time your current lease is up. It’s just silly to roll any payments or negative equity into a new deal now (especially such a poor deal on a loaner). Search the Marketplace. There are tons of BMW brokers that service the NJ area that will blow the pants off this deal on a brand new order.
If by leasing the same you mean same discount as a % of msrp, you may be right. But definitely not gonna come out to the same payment on a base x3 30i vs a x3m40i
Hi, I have a build slot available at 10% off, with base MF.
This is where you would be at that MSRP with all taxes and fees at signing:
You definitely won’t be in the high $400s to mid $500s on a build with this many options, unfortunately. To get to $550 with all taxes and fees at signing, you would need an MSRP of no more than $54,000, which is a fairly well-optioned xDrive 30i. Let me know if you have any questions!
