05-10-2020, 03:26 PM | #1 |
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I just ordered a m340 2020 4 yr lease and it put 13k down and payment is $750 a month base no options etc , at 3.99% I thought there would be some better deals out there? This is ontario Canada msrp is 62k I'm putting 13k upfront to keep payments down mileage is 20k a year I haven't signed yet and it's In the west gta
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05-10-2020, 04:15 PM | #2 |
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What's the msrp? 13k down and 750 a month doesn't sound like a good deal without other details.
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05-10-2020, 04:22 PM | #3 |
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Guys keep in mind this is a lease in Canada. We don't get some of the very aggressive offers you guys do. That being said, I would never put $13k down on anything let alone a lease.
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05-10-2020, 04:43 PM | #4 |
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More info
Is the 13k security deposits? How many miles a year? Msrp of the vehicle? Have you checked any of the leasing forums and used their calculators? Also are there zero rebates available to you? This sounds like a horrible deal just off the bat though, walk away and maybe consult a leasing agent |
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05-10-2020, 05:09 PM | #5 |
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Hey Max. Where in Ontario and what dealer. I’ve reviewed almost every M340i in Ontario over the last month and have negotiated with 6 dealers so I have a pretty good idea on pricing. Send me a PM with more details. Have you already closed?
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05-10-2020, 05:40 PM | #6 |
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How much of that $13k is down payment vs refundable security deposit? Not sure if the laws are different in Canada, but in the US if your lease is stolen or it's totaled in an accident, you get 0% of your down payment back. (If you have adequate gap insurance, you should get all your security deposit money back though.) I never offer more than one month's payment as a down payment on a lease to avoid the risk.
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05-10-2020, 06:45 PM | #8 |
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05-13-2020, 09:48 PM | #9 |
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If you're putting down $13,000.00, that's essentially a full MSRP deal if you're really getting a base M340i xDrive with no options and no delivery credit & 3-month lease credit:
MY20 MSRP M340i xDrive: $62,100.00, 48 months @ 3.99% with 43% residual on $13,000 downpayment would be $732.71 after taxes - different dealer fees and charges would get you to +/- $750/month. |
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Maxdog49.00 |
06-11-2020, 09:18 PM | #10 | |
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I’m looking to lease or finance . Thanks |
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06-13-2020, 06:27 PM | #11 |
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Hey there, what city are you in and what’s the msrp based on the options you want? $3k (before incentives) is more or less the standard starting point, you can do better. Before incentives for a 2020 on the lot in Canada you should be around 8% off of msrp.
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06-14-2020, 01:14 PM | #12 | |
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06-14-2020, 01:44 PM | #13 | |
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06-14-2020, 02:11 PM | #14 | |
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Im in Ontario (GTA specifically) and all the local dealers are saying 7% is their entire margin. I guess it’s good to know they are telling the truth haha. I’m going to go for the 7% plus see what my employer offers with BMW in terms of fleet discount (think someone mentioned a $500 incentive). This would be my first BMW so not loyalty yet. Were you able to get PDI/freight waived at all? I’m thinking I have some flexibility here due to showroom factor. This is the colour and options I want so I may just pull the trigger - will report back to you all on details. |
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06-14-2020, 02:26 PM | #15 | |
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Great car for the record, just so fun to drive and in sport + it literally feels like the car is begging you to put your foot down, so fun! |
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06-14-2020, 03:15 PM | #16 |
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Awesome - appreciate the help. You aren’t kidding about Laval having a ton of m340’s... they easily trump any inventory here in the GTA!
And yeah, I test drove the m340 a few times and sport + caught me by surprise every time. Can’t wait to lock something down. As promised, will come back here to let you all know how I fared. Thanks very much! |
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06-14-2020, 11:18 PM | #17 | |
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06-18-2020, 03:58 PM | #18 | |
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07-06-2020, 09:14 AM | #19 |
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Just wanted to report back for everyone -- I was able to secure a deal for 8% of MSRP + incentives on a brand new Tanzanite Blue m340. Thanks to TorontoGambler and his referral to a great rep at the BMW dealer in QC! Great customer service and very reasonable negotiation!
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07-07-2020, 07:11 AM | #20 | |
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07-07-2020, 11:59 AM | #21 | |
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Like TorontoGambler said, there are some savings from a freight perspective when buying in QC vs ON so I did save there as well to offset some of that. |
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09-09-2020, 03:20 PM | #22 |
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any incentives update
I'm so glad I found this thread! I'm in Ottawa and looking to get a 2020 m340i. I'm searching for some info on the latest incentives for September.
Since its the end of the model year, could there be some more aggressive incentives? I am a current BMW owner and qualify for the 2.49% rate. The first (and only) quote I got so far is unreasonable: they want me to pay for 58% of the total value of the car!!! 48month lease for 2020 m340i (excellence package and adaptive suspension, and a couple of other things) price: 72845 cad (+ freight,pdi and anti-theft = 75705) residual (42%) 30594 interest 2.49 Last edited by david mck; 09-09-2020 at 03:28 PM.. |
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