NY BMW Dealer - Does this look/sound right? 2020 m340

Ask the Hackrs
, , , ,
1

Hello Hackrs,

Really need your help!!

A BMW dealer told me last night, that there is no way I can roll all my fees into the monthly payment ($695) in New York.

In my past month of researching this car and getting prices from multiple dealerships, no one has questioned making only the 1st month payment at signing only.

Basically ended up taking an additional $440 in addition to 1st month payment ($695) for a total of $1135.

I didn’t take delivery as of yet and only completed preliminary paperwork (credit app etc.)

Attached below is a snip of the lease order. Did they lie to me?

Please help! Thanks!

1558690711947650495313841810778
15586907119476504953138418107783024×4032 2.14 MB

2

Where’s the beef?

MSRP
Dealer discount
Rebates
MF

And what is fuel charge? They’re charging for first fuel tank?

3

@Electric sorry please see below.

2020 m340
MSRP $65,570
Registering & Purchasing in NY
Money Factor: .00165

Only Qualified for 1 Incentive (Corp Fleet $2,750) and cant stack unfortunately

Selling Price: I didn’t get exact number but I believe he mentioned 10.2% off MSRP

4

And yes I just saw that gas charge, is that a BS charge I’m assuming??

5

Get exact number for sale price and make sure your dealer discount and rebate aren’t bundled to arrive at said 10.2%

That being said, if it’s a true blue 10.2% prior to rebate that’s pretty decent for this new model but I wouldn’t feel bad about pushing for 12%.

6

Not an expert on NY leases by any means but it looks fishy to me, Can someone more familiar with NY leases chime in on this?

7

Good call.

What are your thoughts about the fees though? Are they legit? And is it true I cant roll everything into monthly payment?

8

Hmm just saw on paperwork here:

Lease Price: $58,660.29
Residual 61% @ $40,119.7

9

Other than that fuel charge (which could be valid but we’ll assume it’s a nickel and dime charge for now), the fees look legit.

I don’t see why you couldn’t roll in the $440 in doc/title/.gov money grabs but be aware that if you did do MSD’s to save some dough on the actual payment that will push payment above $700 (which would add $50 per MSD from where you’d be now) assuming the deal is up to snuff.

edit: NVM the MSD’s, Silly NY!!

10

Any seperate line item for the $2,750 rebate? If not, then they’ve baked it into the “10.2%” discount.

11

True about MSDs, but unfortunately NY doesn’t allow for MSDs. Trust me, I wish I could have done it on this car, but this specific build was only available in NY not NJ/CT where I could have taken advantage of the MSD

12

Yeah, I just remembered this as you replied back. Bah. Do you have the other side of that deal sheet?

13

Wonder how I can reverse calculate this to see what he is selling this truly at and confirm your thought on incentive being applied towards 10.2

15

20190524_062825
20190524_0628252138×2851 2.87 MB

16

Since it was last half hour, guy rushed through the deposit process. I dont see anything else detailed other than this 1 portion unfortunately.

17

It’s a new model so I wouldn’t expect a lot more than 10% prior to rebate, but as i said before I don’t see any reason not to push for 12%.

Shop some more dealers and most importantly, don’t shop them in person.

1 Like
18

The purchase price is 10.8% off MSRP, or my math could be off. You would wanna subtract the $2750 from that price and that should make the monthly payments lower than $695, or $695 0 DAS.

20

So it should be a bit lower when they correct that right?

1 Like
22

I would just straight out ask for a break down

Msrp
Selling price before incentives;
Incentives
Money factor
Residual
Itemized fees
NY tax

If they give you push back or play games… move on to the next dealer. Don’t got time for that

1 Like
23

Wow, nvm. Just went back over everything and it looks clear…discount is 10.8 and 2,750 rebate applied. Get confirmation of this though for sure.

1 Like