Year, Make, Model, and Trim:2019 BMW 530e
MSRP: $ 60,xxx
Drive-Off Amount: $ 0 (I just signed and drove off)
Months: 24
Annual Mileage: 10K
MF: 0.0015625*
Residual: $39.8k
All Disc: $15K**
Region: SowthWest ? I am in TX.
Monthly Payment: $ 505
State Rebate: $2,500
IRS Tax (EV) Credit: $4,668
Effective Mo PMT: $ 206.67
This is OC (OwnerChoice) financing (to capture EV and full State rebate). I had to pay tax on full transaction. I am upset that I failed to bring payment under $200. I left $500 PenFed money on the table (site won’t generate code for me). No CCA rebate since it is demo. Now that I have OC titled under my name and defined residual, I am aiming for next hack to be effectively <$100 monthly.
Under traditional lease structure, it was coming out to be $353/mo (with tax credit & MSD) and $283/mo after State rebate.
*PSA: OC buy rate is 3.75% (not 4.75% as mentioned here and Edmunds). I was ready to pay 4.75 until dealer contract listed lower rate, so that was a nice surprise.
**Discount breakdown:
Dealer Disc: $10.75K
Lease Cash: $1.75k,
Loyalty: $2K (don’t ask don’t tell … my first bmw)
OL: $0.5K
It took me few months of leg work to pull this off (research, grabbing OL code and getting deal check)
Deal was closed last hour of 2019 (6pm on 12/31)
Not repeatable. (I can share dealer name but he refused to repeat dealer disc)
I will need to purchase GAP separately so my effective pmt may jump (as my insurance will jump few bucks $)
I wanna thank everyone for engaging in my previous threads. I hope this will inspire others to hack even better deal.
No, it wasn’t.
They have 20+ loaners but they won’t go beyond $8500 dealer discount.
You can try and may have better luck than me. But be ready for Hyundai dealer shenanigans … they reminded me of on Don Ready.
I got the OL couple of month ago from test drive when BMW was running “drive of end hunger” promo. It was simply a web form link to generate OL code. I think @Electric even outed the link in OL thread.
At the end of negotiations, I proposed $15.5k off of msrp, regardless of however they can get there, then settled at $15k. Initially we were going back n forth itemized.
I think (could be wrong) loyalty is validated by insurance and vin. If it was conquest, then they must have bumped dealer contributions.
@ccuser011 do you mind sharing your final quote? I just want to compare what kind of fees dealers usually add on. Mine had tint, carrying charges, $110 dealer doc fees…
For 24mo lease you are getting $1666.7 instead of the $2,500 for TX EV rebate (2/3).
Otherwise terrific deal! This is what I was trying to do but no dealers would budge on a reasonable deal so I ended up with an 540i.
Incorrect statement. Its OC. I attached a coversheet with app to remind the clerk that I am claiming full rebate. This is what I got(too lazy to cash it)
I think what happened is that again, OC tricked the system and was regarded as a purchase not a 2-year lease, or the TCEQ clerks simply didn’t read thru your purchase contract, either way it worked out in your favor. Still, for any “true” 2-yr lease it would only be eligible for $1,665