The car is a 6MT with the premium package and no other options.
I attempted to use the lease calculator to duplicate the quote and came pretty close: Calculator Link
It seems to me that the residual value the dealer provided me is low, that the MF (.00154) has been padded, and there appear to be a lot of charges added-on by the dealership. For comparison, my son just leased a 2020 X5 with a sales price more than $20K greater than this car with a lower 36 month lease payment… so this quote is likely way out of line.
So I’d appreciate if anyone can guide me as to what discount (%) off the MSRP is reasonable to negotiate for, whether an RV of 53% is correct for this car, and what the base MF should be for this car. Lastly, I’d also appreciate guidance on a negotiating strategy going forward.
I think this forum is awesome and I thank you all for your help in advance.
Edmunds is the best source for verifying RV/MF/incentives. That should always be your first stop when looking at a car.
I can tell you right now that this deal is beyond atrocious. Like, I wouldn’t even bother countering since they’re so far out of reality.
My suggestion: start by going to Edmunds and gathering the key lease numbers for the vehicle. Then find a new dealer/car. Put together a target price based on the Edmunds numbers and such and approach them with the deal you want.
You could probably be in an 840 for these prices, much less a 2 series.
Ive heard that the market in FL can be brutal and I’ve never looked into the 240i myself, but this looks like a bad deal. I agree with what @Mllcb42 says about starting off on Edmunds to put together a search, but I also suggest you navigate to the “share deals” section of the website or the marketplace and filter with the “BMW” tag, or just take a look at all the deals to get an idea. Not all will be attainable as some deals are rare and not replicable, but overall it should give you a much better sense of what you should be shooting for as you see an average for each make/model. The “marketplace” section of the website can also be a good resource if you dont mind paying a broker fee and want to avoid the hassle of negotiating. To be at $705 a month with $3500 due at signing… those kinds of numbers you could find a broker deal and drive an M550i or an 8 series, etc. etc. Hope this helps, but if it were me I would not be signing this deal you’ve posted
Adding a quick Edit: I didn’t notice that it was a M coupe, which definitely makes the deal a little more reasonable than I originally thought lol. I’ll leave everything I’ve written above since I think looking around is still a good idea since you said you were new the site, and even with this piece of information I still dont necessarily think its a good deal for that price range.
I hear where you are coming from but you can’t compare an M coupe with an SUV. They have different residual values and the M240 ( with manual transmission) is a niche car. There have been some pretty good deals on the X5 reported by forum members.
Are you married to this car?
Fyi, FL dealers are known to be stingy with discounts while also adding $899+ dealer doc fees.
Since you are a newbie, I would suggest researching the numbers on Edmunds and searching here to see what type of discount is possible on this car.
I would also recommend reading Leasing 101. It is not a good idea putting any money down on a lease for a couple of reasons:
Thanks to all so far… I agree, I’m not interested at all in putting money down on the lease up front and I’m looking on Edmunds as we speak…, then Leasing 101 and I’ll move forward!
Q: If FL dealers are so stingy, at what point does it make sense to try to make a deal out of state (I presume it’s when after factoring in the cost of shipping there is still significant savings), and if I were to consider doing so, are there particular states that I should consider and any other special considerations.
Unfortunately, you are going to have to decide how much time you want to spend on getting a “good” deal on this car. As far as BMW dealers, the North East appears to be more discount-friendly, but at the same time, given that you are looking to lease a niche car, even dealers in my area (MA) might not be looking to deal this early in the year. You might have better luck in PA, NJ, MD.
Your best bet might be to reach out to a broker and figure out whether getting a car shipped from out of state might be worth the savings.
EDIT: Reach out to @Bostoncarconcierge. He is a broker in MA. He has clients who have shipped cars to FL. Although I have not worked with him, he has a good reputation on LH.
To piggy back on this - I’ve also seen posts of people saying they’ll just buy a $100 plane ticket into GA or another similar (geographically) state, and then drive their car back home. Of course that affects your miles so you’ll have to decide if this is viable, but also an option if you have the time and dont mind a drive.
I do have a broker that I worked with here on my last car… reached out to him today also, so I should have some additional perspective from him that will provide more information.
4-series lease much better. Have you looked into finding a 440i 6MT instead? Not the most common car, but if you’re opening up your search radius considerably, I’d say it’s worth a shot.
