trying to wrap up a lease today with a BMW trade in (with negative equity). They told me MF is .00105, but I am not seeing it. Are there any other fees or ways to reduce monthly payment? I know security guard is a junk fee and can ask to reduce doc fee. see attached PDF. thanks in advance.
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spoke to one, didn’t have the color we were looking for and wasn’t interested in doing a trade in this late in the month. Willing to hear from anyone..
Got it. Taking the trade (and negative equity out of it) for now, let’s assume that the value they’re giving for your trade is on par with where you could sell it elsewhere (needs vetted by you by getting quotes from places like Carvana, carmax, etc.). You first need to understand how their deal compares to your target.
The priority should be putting together a target deal. I understand wanting to wrap it up by months end, but you need to find out the RV, MF, and total incentives available to you in your region, along with a target discount you know you can achieve based on broker postings, signed forum, and signed data base. From this, you need to put together a calculator with a target deal, and make offers.
If you’ve already done this, what does this information tell you in terms of what pre-incentive discount you should be targeting. And what kind of monthly payment / DAS combo does that yield using the LH calculator? How does this compare to what they are offering you?
I am not eligible for loyalty. I put all of their numbers into LH calc and chat GPT and both basically say that I should be closer to $655 based on what the numbers spit out. I went back to the dealer to confirm the MF and they confirmed it was .00105 but based on the deal, it seems like the MF is .00254. The LH calc gets fuzzy to me when putting in the negative equity?
Right now, they’re offering me more than what carvana or CarMax in. they said I also am saving slightly over 1k on the tax savings for the trade in.
This is without the trade in ( I am unsure how to add it in.. is it just a negative number on the line). please advise me if I’m incorrect on my calc based on the papers I uploaded. again, new to this but trying to learn quickly.
There is $1000 in dealer cash baked into the selling price, so I backed that out and added it to the incentives line instead to get a better idea of pre-incentive discount.
I added your negative equity to the trade equity field
Tried to marry up the gov/dealer fees, and added the securiity guard to the dealer fees.
Looks like this is ~10% pre-incentive discount. Quick glance at broker listings, and I suspect you should be able to get closer to 12%.
As is, though, you can be >$100 cheaper (and around $625 w/ $0 DAS) if you:
Have them remove the security guard you save an additional $12 / month
As @thevolvoguy mentioned, apply the maximum (9) security deposits which reduces the MF to .00015, saving an additional $94 / month
All of this being said, unless you are really dead set on this vehicle, there may be other vehicles in this segment which offer better bang for the buck.
I said may because I didn’t have time to check every luxury vehicle in this segment, but I guess what came to mind (using $730 as ballpark):
XC-90 T8s coming down in price again
Mazda CX 70/90. Yes I realize not “luxury” brand so not the same segment, but I suspect they’d be close enough in quality to warrant consideration given you can find them cheaper than OPs vehicle
Butt yea, new QX60 certain looks a lot better now than previous years…
Anyway @Robertm523 , where did you land with this vehicle/offer?
Geez Louise… you have this ass backwards. Never confirm anything with a dealer or rely on their quote sheets.
That’s very tough to do… Leasing is time-consuming and requires a good deal of study and attention to detail. If you don’t have the time or interest to commit, perhaps your best alternative is a good broker. There are some outstanding brokers on the LH website. However, if you’re willing to commit your time and resources, be sure to always control the deal. That can only be achieved with education which breeds confidence and increases the likelihood of success.
I went back once more to the dealership. They confirmed they would not budge so I walked. I tried to lower doc fee, put $ down in return for higher trade (to save on taxes), or remove security fee. I spoke with 2 other Infiniti dealers today that could not beat the deal. I worked with 2 brokers and both said they offer on the trade in was a gift and neither wanted to touch it. If I didn’t have the trade, I could probably land a better deal, but getting rid of my bmw with 72k miles (that has caused me issues and $$) and dumping a 5.3% APR loan is not a bad thing. With the tax savings, I’m only upside down 1k.
Waiting on one more broker and dealer tomorrow. Have a friend who works for genesis, so was running some numbers on a GV70 with the trade. We’ll see if programs change. As the 26s come, the deals may get better but the value on my trade will only get worse. Carvana, carmax, and brokers could not come close to the number.
If I take the deal, will put down MSDs. He confirmed 9 MSDs would save me $100 a month. That’s a 19% annualized return on my $6300 deposit. I’ll take that all day. Do I have any risk of losing the MSDs? (Theft or totaled).
A good learning experience and appreciate everyone’s insight on this. Have a baby on the way so time to get a bigger car.
I took this bmw for $380 a month from a leasehackr swap in 2019, bought it off the lease, and had it ever since.
