**UPDATE after final 10/13** First time buying a car! 2016 BMW 320i xDrive lease

Updated 10/12
2016 BMW 320i xDrive
MSRP: 42,390
Sales Price: $35607 including $1,500 cash rebate. (16% discount)

MF: 0.00136
Down payment: doc fees and first monthly payment (They said that I HAVE to down a first monthly, is this true?)
MSD: $300 x 7

Monthly Payment: $288

Updated 10/11:
Here is the new deal:

2016 BMW 320i xDrive
MSRP: 42,390
Sales Price: $36,000 including $1,500 cash rebate.
is this a good or decent deal?

—INITIAL DEAL

Hello team!
It’s my first time buying/leasing a car!
I went to a BMW dealer shop in Oregon this afternoon.
I’ve studied hard before I went in, but according to my friend, only smart thing that I did was walking out there without signing the paper.

  1. Is this a good deal? Can I do better since it’s almost end of the year?
  2. Drive off = money I pay up front, right?
    I don’t understand why “drive off” is written as $7,400.
    I’m getting $1500 rebate and $1500 from my car trade-in

2016 BMW 320i xDrive
– Premium package
– Driver Assistance package

MSRP: $42,495
Sales Price: $40,500

Bank Acq Fee $925
Dealer/State Fees $499
Net Trade $1,500
Rebate $1,500
Customer Cash $ 4,400
Drive Off $7,400
Program Miles 10,000

Term 36
MF: 0.001680
RES: 66%
Monthly Payment $293.69 (When Cash down $4,400)

Thank you so much!

1 Like

Your friend was right.
First you can surely do better on the selling price. In my opinion you should be able to get atleast 10%off MSRP.
And dont put any money down if your leasing.

The numbers would be good if the 4400 cash were coming from the dealer. So tell them you want the sales price to be 36k. Anything more than that, it’s a bad deal.

as already mentioned you are not getting a big enough discount on the car at all.

Also may i suggest that you sell your trade-in privately if possible. I’m going to assume they are low balling you big time which means the dealer is making a killing on both you new car and the trade-in. Chances are your car is worth a lot more on craigslist or other private offering.

It also makes the deal cleaner and easier to compare apples to apples and opens up the opportunity to call other dealers to compare deals. You don’t want to have to go get a trade-in estimate from every dealer you try to deal with. In the alternative, you can take it to carmax and sell it there for probably the same $1500 if you don’t want to deal with private party selling your car.

1 Like

Hi all! I took all your advice and made a deal again! Please take a look and leave a comment for me!

Nice.
So that basically wipes out the money down and puts you at 290 a month.
MF should be .00136 right?
If you can get that done and add MSD’s, take it home.

EDIT: Forgot there was 1,500 from trade-in. Still a really good deal.

1 Like

Good sales price. Go for it.

Is it pretty common to get 10% off on a new BMW in general? It’s also my first lease and I’m trying to get a new X3. I want to make sure that I’m not going to get laughed out of every dealership by asking for 10% off MSRP.

It is common to get 10% off but dealerships in small towns dont offer such deals. You would have a better chance if you email a lot of dealers asking for the best price and then going to your dealer with the best quote and asking him to match it.

Dunknown, thank you so much! I went in and they showed their MF as 0.00222.
I told him that it’s way too high. Then the dealer got mad somehow, called me rude because the dealer and I are on the same team, but I trust something that I saw online. LOL
The dealer demanded me to show him the number, and I showed your comment!

Anyway, after a sales manager came, I fought for over 20 minutes and got 0.00136!
Thank you thank you thank you!

At first, I went into a dealership knowing NOTHING. That was a mistake.
I would definitely search this forum for deals on X3.
Then what I did was start sending e-mails to the dealerships that are out of the town… like 1 or 2 hours away. If I really wanted to, I could go there but those places were my second option.

So you managed to get them to eat 4400 cash down! Good job. That would have been their premium profit. Even now they probably make 1 to 2 k on the deal, so if you had fallen for the initial deal, they would have fleeced an extra 4k off you. Good job negotiating, enjoy the car.

Good to hear that!
I’m just passing on knowledge I’ve gained from my time on this forum.
Still looking for my first lease -_-

Yeah unfortunately all the best dealers are in southern california. I’ve managed to get them down to about 10% off MSRP but I need a bit more to make the deal work. keep pounding!

Hope you get the best deal out of it!

Yes, just remember that you are the boss. Just keep demanding.
One thing that I learned through this process is that you don’t have to be an angel to this dealer whatever they say. (It doesn’t mean you have to be an a.hole). No matter what type of deals you get, they are going to make money 100%.

Please update how it goes!