Are advertised lease deal options from the mfg good deals?
are dealers obligated to provide the mfg offer? I assume it is for 780 credit scores… but does that mean that for a couple more points someone with a 700 credit score won’t qualify at all?
in you guys opinion, is this a good lease deal? it is more $$ down than I would normally consider but with that said when I run the calculator I keep getting a .74% APR.. that can’t be right?
and when I ask the dealer to run me numbers, their numbers are not even close to this no matter how I run the numbers…
what am I missing?
here is the deal.
Through August 31, 2021, lease offer available on new 2021 BMW X3 M40i models from participating BMW Centers through BMW Financial Services NA, LLC, to customers who meet BMW Financial Services’ credit requirements.
Monthly lease payments of $689 per month for 36 months is based on an adjusted capitalized cost of $56,335 (MSRP of $61,745, including destination and handling fee of $995, less $3,385 capitalized cost reduction, $0 security deposit and suggested dealer contribution of $1,025 and $1,000 Lease Credit). Actual MSRP and dealer contribution may vary and could affect your monthly lease payment. Cash due at signing includes $3,385 capitalized cost reduction, $689 first month’s payment, $925 acquisition fee and $0 security deposit. Lessee responsible for insurance during the lease term, excess wear and tear as defined in the lease contract, $0.25/mile over 30,000 miles and a disposition fee of $350 at lease end. Not all customers will qualify for security deposit waiver. Tax, title, license, registration and dealer fees are additional fees due at signing. Advertised payment does not include applicable taxes. Purchase option at lease end, excluding tax, title and government fees, is $34,577.
Offer valid through August 31, 2021 and may be combined with other offers unless otherwise stated. Models pictured may be shown with metallic paint and/or additional accessories. Visit your authorized BMW Center for important details.
Everyone will have different opinions on what a “good” deal is for any given car. At the end of the day, it comes down to how you feel about it. Here are some Lease 101 tips that we’d recommend:
Also the acquisition fee is paid upfront, so make sure to check the box on the Calculator. I assume that you were trying to reverse calculate its MF based on the advertised monthly payment, even though the advertised deal is of a different MSRP?
great input… yes, at the end of the day I can’t seem to make their “offer” work in the calculator… which is why I am so confused on this one… I thought perhaps they were trying to dump the 2021’s if they had any in transit (or on dealer lots - which is rare). thank for all of the assistance.
It is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, etc.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
Read Leasing 101 (EDITORIAL | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!! While you’re at it, be sure to watch the LH video (How to Use Leasehackr - YouTube) to brush up on how to must efficiently use the resources here.
Pick a specific vehicle that you want to target
Gather the current MF, RV and incentives from Edmunds forums for your zip code
Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
