Year, Make, Model: 2021 BMW 540i
MSRP: $65,095
Selling Price: $56,750 (12.8% off before incentives; includes OL code)
Monthly Payment: $563 + tax ($617 incl. 9.5% Los Angeles tax)
Drive-Off Amount: $1k (effectively $0 after CCA rebate)
MSDs: None
Months: 36
Annual Mileage: 10,000
MF: 0.00093 (buy rate)
Residual: 59%
Incentives: $2,750 ($1500 lease credit + $750 loyalty + $500 PenFed)
Region: Los Angeles
Leasehackr Score: 10.1
Leasehackr Calculator Link: CALCULATOR | LEASEHACKR
A bit late posting this, just haven’t had time to work it up. Signed this for a family member at the end of April, just before things took a real turn for the worse with leases. There were already some signs at the time that things would get ugly, but I didn’t realize how bad it would become. I realize this deal is not at all replicable now, but once things “normalize” it is a good sense of what can absolutely be achieved with some homework and persistence. I have to say, this deal feels like a unicorn now
Which part is not replicable? 12.8% off? You can still get lease credit, loyalty, and PenFed, right? And shopping may get you Base MF.
I helped someone get 10-11% off a 330i (plus PenFed after that) late June (all cash deal), so I would think a 540i would still be in that 10-13% off ballpark.
That’s exactly the part that I don’t think would be easily replicable today. Nothing is impossible, but with inventory levels where they are it’s highly improbable to get more than a 9-10% discount off MSRP and buy rate on a 540i.
People are scoring 7,8,9 10+ % off MSRP yet every dealer I call for , for cars I’m looking at are going for MSRP or more. Zero discounts. I’m not in the market for a BMW or audi or Mercedes but damn according to some of these leases I’m seeing here I have to question if there really is a chip shortage going on.
Care to elaborate? What cars/models are you getting quoted MSRP? May was a decent month for deals. June not so much.
I’ve seen shared deals and broker deals at 10% off MSRP + base MF on this car.
When I signed my Audi deal back in early May, most dealers were at 5 -7% off MSRP. Only one (the one I signed with) came close to my 10% off target. I ended up at 9.5% off MSRP (more like 9% off normalizing for a slightly marked up MF).
X3M at the end of June for example. The dealer wouldn’t budge for anything beyond 1% off MSRP. That despite the fact that I was already in the building signing a lease on a 530i xDrive with them and ready to trade in another car I own. That 530i by the way came out to be 10.4% off with the base MF (no MSDs). However due to some rather exorbitant fees ($799 doc, $218 title, $304 registration ) the leasehackr score came out to be a mediocre 8.0. Perhaps I shouldn’t be complaining too much given the market… The OP’s deal certainly seems like something that people can only dream of nowadays.
I don’t understand why would any Leasehackr go to dealership to begin with to negotiate. Go for a test drive, thank them and go back home. even if you want to take the car from the dealer you test drove with, just make a call, if they start with over sticker just hang up and call the next dealer, much easier than getting chased in parking lot.
The only time you go there is to pick the car up, get any free maintainance or warranty work done.
If you give an opportunity to a dealer to rip you off, they will take it 11 times out of 10.
Chip shortages are real for some brands and not so bad for others but all brand dealers are cashing in on them. They have tasted the blood and will not so easily give up cars even if inventory levels improve knowing people who really a need a car will pay higher than fair price.
We need to get in a deep recession where dealers sit with 100’s of cars on lots and floor plan burning a hole in their bottom line for them to give in. That don’t look like will happen anytime soon, so days of cheap leases are over for next few quaters at least.
When I was negotiating my A6 deal in early May, I ended up chatting with the GSM of the dealership where I got my car. It took two days of negotiating via email and over the phone, but both myself and the GSM were happy with the outcome.
At the end of the day, if dealers know you are ready to sign (and not a tire kicker) they won’t play games.
I’m with you 100%. Maybe if things are really close numbers wise and the dealer is close, that might not be a bad idea. But, in general, I’ve found that walking into a dealer generally just ensures you’ll waste a ton of time talking to someone who thinks you’re an idiot and has no power to actually make a deal. There are some dealerships that are never going to do what you want them to and the name of the game is figuring that out with as little amount of time and effort as possible
