Dear Leashackr Community,
After several months of educating myself from your valuable experience and contributions, patiently waiting for the right market conditions, and spending more time on this project that I’m willing to admit, I finally pulled the trigger on a new 2019 BMW 530e.
The MSRP for the car was $61,810 and I managed to obtain a 14.5% off MSRP discount before incentives at base money factor, and take advantage of $4,250 from Loyalty and Lease credits in addition to a $500 OL code. The $925 acquisition fee was rolled into the lease and I added 7 MSDs.
My monthly payment is $385 ($421 including 9.5% tax) for a 36 month, 10K mile/year lease. The total due at signing was $5,722, which I put on my BMW credit card, and included $3,150 from the 7 MSDs, first month’s payment, taxes, registration and fees and a $893 down payment, which was a botched attempt at trying to reduce the MSDs to the next lower tear that failed after the college graduate credit I was trying to get did not go through (see my previous posts on that topic).
I am aware of the risk of losing the down payment if the car is totaled, but the amount is manageable for me and given that I closed the deal around midnight, I did not have the energy to redo the numbers with the finance manager at that point and I just let it go.
If I factor net credits from BMWCCA ($916), CVRP ($1,500), BMW CC bonus ($470), BMW lease return waiver from my previous lease ($350), the Leasehackr score gets close to 15 years. Add to that a California HOV sticker and the potential for a credit for an L2 EV Charger ($500), I think I got a sweet deal.
I believe some of the factors that contributed to this aggressive pricing were that I expanded my search radius to 100+ miles from home to find a car with the specs I wanted, that the car had been in the dealer’s inventory for a long time (~200 days), had some mileage on the odometer (~300 miles), and perhaps end of the month conditions.
I have not received permission from the dealer to disclose their name at this point and I don’t know if the deal is replicable.
Thanks to all for your help!! I’m happy to pay it forward by sharing my experience with others.
The link to the lease calculator is below: