Thanks to Leasehackr forum, learn a lot for leasing a car from this forum! This is my first lease car!
I was targeting about 18% plus 2k incentive for a loaner X3 with 2k drive off. Contact several dealers in bay-area. Only one offer me back something is closed.
Seems like dealer offered me a good discount based on the selling price, but marked up the the MF to 0.00123 instead of using the base MF 0.00093. The monthly payment was about the same. Is this good or bad to me?
Also I was convinced to buy the lease end protection package with a discount price of 1500 (original 2k). Did a little bit research 4 set of 19inch run flat will cost about 1k. Just a little bit worry dealer will over charge me on other stuff after lease end. So I feel ok to pay extra 500 for dent/scratch and other stuff.
You did great, especially in this market. This is alittle over 16% off considering buy rate on a highly desired BMW (its BMWs best seller). You’re better off taking the higher discount and marked up MF as you could potentially have more equity if you sold it etc.
Where/how is this reflected in the calculator? Or did you pay cash for it?
The dealer doesn’t charge you. The dealer doesn’t hold your lease. BMWFS does.
How did you get to “extra $500” for dent and ding? Are you assuming you’ll use $1000 coverage in tires? The plan isn’t going to cover normal tire wear/replacement tires. If you blow a tire out, the reimbursement will likely be prorated according to tread wear (see your contract)
Oh I didn’t add the lease end protection package to the calculator. I pay up front with DAS (they accept credit card which cash back helps a very little bit if you have a 5% cash back credit card on this)
Before I went to sign the documents, I was pretty deterministic not to sign any protection plan.
Then I was told, in order to avoid the charge on the tires at the end of the lease, the tires need to be 70% above which is not possible after 36m/10k per year. I know the disposition fee ($350) can be waived if you continue to lease another car after the lease ends. Not sure about the tire fee.
I was assuming the tires fee cannot be waived. And I searched around the forum, found out people might found used OEM tires that can be purchased with cheaper price. That might needs some extra effort. So I searched the new 4 19-inch run flat tires. The cost is about 1k.
Anyone know if the tires fee can be also waived if decided to lease another car after the lease ends? If so, I think I am going to cancel the protection plan. I confirmed with the dealer, the protection plan can be canceled any time, the prorated refund will go to your coming monthly payment.
Regarding the “$500” discount on the protection package, I was asking if there’s corp discount or Costco discount. Turns out that was from Costco.
Oh forgot to mention, the $1500 end lease protection package covers the tires dent scratch up to $5000 cost of fixing those.
Do you know if the tires fee can be also waived if I decide to lease another car after the lease ends? If so, I think I am going to cancel the protection plan. I confirmed with the dealer, the protection plan can be canceled any time, the prorated refund will go to your coming monthly payment.
I don’t think they would waive a full set of tires (if you actually do use up all the tread) from X3 to X3, for example… What I suggest you do is cancel the plan anyway since it’s not going to be worth it in most cases. Order a set of non run flats which will be much cheaper and much better than the run flats. Best mod you can do. Put the run flats back on for lease return or if you use up all the tread on the other set.
I don’t know where that 70% came from, but I’m pretty sure you only need 4/32 remaining tread when you give the car back (double the wear bars which are at 2/32). It’s common for people to need new tires before lease end, but not always the case. Buying used tires for lease return is an option as well.