Went to a lexus dealership and was offered this deal. This doesn’t look that bad, although given they are a lexus plus dealership there is no negotiating. I dont know if they are just saying that to scare me off…
This is way lower than anything im getting with BMW for similarly priced cars with higher residual values.
Year, Make, Model, and Trim: 2020 NX300 F Sport
MSRP: $40743 (price after rebates is around 37500)
Monthly Payment: $333 Including Tax
Drive-Off Amount: $2599
Months: 36
Annual Mileage: 10,000
Region: FL
Using these numbers, your pre-incentive sale price is about $38,355. That’s barely a 9% discount.
Have you shopped around? Have you asked for a breakdown of what the DAS include? How much are the dealer fees? $899? Have you confirmed the RV and MF on Edmunds to compare with the dealer’s numbers.
yes, they only discounted less than 10%. not sure what the average discount for an NX should be. they seemed to be fixated on this “no negotiating” policy, similarly to the one car max has.
First off, comparing the monthly payment of a competitor model tells me you are payment shopping. I could be wrong, though. What BMW model were you looking at? What was the quote breakdown?
@Bostoncarconcierge can probably beat any deal from a BMW dealer in FL. Reach out to him if you decide to go that route.
i went into two BWM dealerships today and for an X1, and told them that i had a strict budget of around 2K DAS and low 300s for monthly payments.
they told me they couldn’t even go lower than mid 400s, which i thought was outrageous, so they didnt even give me a quote. the said inventory was tight due to covid and could not work anything close to my numbers.
Well, I take that back… the part where you went in to the dealership to talk numbers is where you went wrong.
If you learn anything from this site, learn this:
The dealership is not the place to go to find out how much a vehicle should lease for. The dealership is the place you go to find someone to do the deal you want. You need to know what that deal is LONG before you ever entertain talking to a dealer.
So I was right about you “payment shopping”. If you have a tight budget, maybe you should stop looking at the NX or X1. A few questions for you:
Have you seen deals in your area for an X1 for 2K DAS with a monthly in the low 300s?
Do you have BMW loyalty?
Stop talking to dealers and start doing some research. Narrow down a car that is within your budget and do some research (on this forum) by figuring out what would be a realistic pre-incentive discount. Also know what additional manufacturer incentives you might qualify for.
This is true, so you might not get the same deals as some LH members pre-covid.
I would also recommend reading “Leasing 101” in the FAQ. Once you are armed with all the necessary info, then you can reach out to dealers again. Only step foot into a dealership to either test drive a car or sign the final papers (you might even be able to do this remotely).
It takes work to score a good deal on your own. However, hiring a broker could make the car buying process painless and less stressful.
For the BMW: Use the search function of the forum to figure out what deal you want to have, and go from there. I would not be shopping monthly payments, but rather putting a deal together based on the information available for free on the forum.
thanks all, this is helpful. im not that tight on budget, the price that lexus quoted was fine, i just did not think paying low 400s for an X1 was reasonable in any way… what i really wanted to know whether it was a good deal or not, but it seems like it isnt.
ill do some more research now and reach out to dealers after i am more prepared.
so after doing some more research and following some of the email templates, i reached out to like 4-5 Lexus dealerships in my area, lets see what they come back with. Thanks again for the tips, they were really helpful and i have a much better grasp on the situation now…
Out of curiosity, i also looked into the RR Evoque, which i thought would be out of my price range. However edmunds suggests a ridiculously low MF (.00009, the lowest of any car im interested in) and a relatively high residual value of 61% for my trim. I found a loaner thats currently selling for 39K (which i imagine i’d be able to discount even further since the sticker price is 43K and the car has almost 5000 miles). using the leashackr calc this gives me a payment less than 300 a month if i can get the car price down to 18% below sticker.
in your guys’ experience, what the most effective way to negotiate the MF? is it truly just asking? i doubt that off the bat thats the MF they’d give me…
I negotiate it like everything else. I tell the dealer what deal I want, and I break it out in detail, including buy rate mf. If they come back unwilling to move on the mf, I offer a larger discount amount to compensate. If they say no, I thank them for their time and move on.
Basically I was able to get them down in price but not as much as i was envisioning, so it could be that my original deal wasn’t that bad. I admit i am going a bit stir crazy and could use some advice…
For my trim and lease term of NX, we are looking at:
RV of 57%
MF of .0002.
Car cost negotiated down to 35700 (MSRP was 40743). In addition i have 2750 worth of incentives.
When i plug in these numbers on calculator, this is what i get.
However, while the dealer is claiming to be using the same MF and RV, the best deal I’ve gotten so far is 880 sign and drive (inclusive of all fees) and 360 monthly payment. while this “looks” better than the deal i got yesterday bc of the lower down payment, the total lease cost is only marginally better. Plus yesterday’s deal included maintenance, and its unclear whether this one does.
oops, nice catch. when i posted the numbers i must have accidentally used the MSRP of another quote. vehicle is the same, different dealership. discount is 12.3%
