Looking at leasing a BMW. Awaiting allocation. Build is priced at 70,665. Spoke with another dealer hoping to get an allocation earlier (MO). They quoted $1295/month. HARD NO! I know that ordering cars can stiffen negotiations but I want this exact car and I want a decent deal. I have been reading that lease deals have been pretty bad lately. I am open to using a broker but I’m still working on finding some that service my area (IN). I’m wondering if the dealer closer to home will quote me similarly.
MSRP:70,665
$0 down
MF: 0.0025 (not base but they refused to go down because of the rarity of the car)
Residual: 52%
No incentives
36 months/12
Haven’t leased in a market like this before so is this an expected deal for this car? Or BMW’s in general. I know the car isn’t sitting on lots right now but $1300/month is insane. I feel like I should be in a Porsche for that. Would $700-$850 be possible right now?
Just a heads up I’m new here. While I did do a lot of reading and checked the calculator, I’m still learning so this might be a silly question to some.
I’m looking at some other luxury sedans such as the S5 but this is the car I want just not the deal….I’m willing to wait for the market to change but my lease is also ending and I’m not sure how long it will take to come down from these high prices. Thanks in advance for any responses/advice!
I’d be at $970/mo + tax with 1st and fees at signing on a 36/12k based on that MSRP. What you have here is a horrible deal, but to answer your question, 700-850 isn’t realistically possibly for an M340i with a 70k MSRP.
Ooof, this is definitely not good, but it’s a good thing you came here before signing!
I’ll be honest that $700 - $850 isn’t possible on this car, especially given the lack of incentives and low-ish residual, plus you are at a $70,000 MSRP. The MF was marked up, but the residual was also off by 2% (it’s 52% for 15,000 miles).
Even at a 5% discount, you’re going to be over $1,000:
Realistically, you’ll need 13.5% off with tax and fees paid at signing to get to $850 per month. If you’re dead-set on this car, you may want to consider purchasing it.
Yea I may have better luck finding one that’s sitting on a lot. I’m looking into Audi, I’ve seen that they have had some better deals and discounts. A little more inventory from what I seen. May just have to wait out the storm for better prices.
I really like the M440i but the lease programs are atrocious. The best convertible lease deal right now is the SL55/SL63 if you can find the unicorn. A SL55 is cheaper than this lease yet almost double the price
Beautiful car but I hate convertibles. I also haven’t heard the best about MB in terms of reliability. I checked out a couple of their leases out of curiosity for cars at similar price points. They were even higher!
Are you looking for performance sedans? I like BMW over MB but if this is the gran coupe, look into the M550i, I know now its a little late but @HN308 has one for 5% off. Pretty sure that’s a 1k a month payment as well and its faster but less fuel economy. If you want a coupe, go smaller and get a m240i instead. 3.6 0-60 and a 33 MPG
Thanks for the heads up! I definitely want some level of performance. No 2 series for me! I need a little more space as I’m pretty tall. I love the sleekness of the M440i Coupe.It’s really one of the only cars I wanted. The Audi S5 comes as a strong second. I’ve started looking at past deals for those.
Can anyone explain why finance makes more sense? My understanding is that a lease has a lower interest rate and you can finance it any time before or when the lease term ends. If this is the case, why don’t take advantage of the lower interest rate of a lease term? What am I missing?
The lease price depends on several factors, at least one of which is out of your control. You can negotiate the price of the vehicle (most of the time) and the finance rate (sometimes). The residual value is set by the leasing company.
Right now, finance rates are high (comparable to normal purchase credit rates) and most finance companies are not using inflated residual value rates that can be used to make leases much cheaper.
