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2019+ BMW 3 AND 4-SERIES FORUMS (G2x Generation) Ordering / Pricing / Order Tracking Forum Is this a fair price for an M340i in Canada?

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      05-10-2020, 03:26 PM   #1
Maxdog
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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, 05:54 PM   #7
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Same risk and no upside to putting money down in Canada. People don’t like to see the big payments, just pay yourself $500 a month and keep your cash or better yet lower your rate with msd’s.
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      05-10-2020, 06:45 PM   #8
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Quote:
Originally Posted by TorontoGambler View Post
Same risk and no upside to putting money down in Canada. People don’t like to see the big payments, just pay yourself $500 a month and keep your cash or better yet lower your rate with msd’s.
110%
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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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      06-11-2020, 09:18 PM   #10
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Quote:
Originally Posted by TorontoGambler View Post
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?
Hi Toronto Gambler , is 3k off a good price for the m340 base model ?
I’m looking to lease or finance . Thanks
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      06-13-2020, 06:27 PM   #11
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Originally Posted by Siakam2020 View Post
Hi Toronto Gambler , is 3k off a good price for the m340 base model ?
I’m looking to lease or finance . Thanks
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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Quote:
Originally Posted by TorontoGambler View Post
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.
I was able to negotiate 6% off MSRP before incentives. Incentives currently are at $2500 in Ontario for a lease. However the car is a showroom car... should I be able to get more? Also, is residual in Canada that low on these 48 month lease? Dealers all saying it’s about $28.5K!?
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      06-14-2020, 01:44 PM   #13
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Originally Posted by G20Dream View Post
I was able to negotiate 6% off MSRP before incentives. Incentives currently are at $2500 in Ontario for a lease. However the car is a showroom car... should I be able to get more? Also, is residual in Canada that low on these 48 month lease? Dealers all saying it’s about $28.5K!?
The residuals in Canada are about 10% lower than what you see in the US unfortunately, jacking up our lease costs. If you’re not currently in a BMW and don’t get the 2% loyalty the card edits are $2500, but there’s another $1k available if you’re company has a car allowance policy (mine does). 6% off for showroom I’d say is minimum. It’s not bad, some certainly do worse, but if you call a few locations for comparison you should be able to get 7%... which they’ll say is all the margin they have and more or less true before holdback. That said if it’s your local BMW you should get the extra 1% just because it’s worth it for them to get another customer into service. If it’s a location with a lot of inventory, specifically a lot of M340’s you can get better than 7% since they need cash flow. If they only have 1 or a few of the model they may hold at 6-7% off and focus on clearing other models. What part of the country are you in? I made the drive to Laval to get a car with the exact build I wanted and because they had a lot of inventory I got 8%. All that said if it’s the exact car you want and it’s local then 6% off in Canada is just fine so don’t feel bad pulling the trigger.
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      06-14-2020, 02:11 PM   #14
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Quote:
Originally Posted by TorontoGambler View Post
The residuals in Canada are about 10% lower than what you see in the US unfortunately, jacking up our lease costs. If you’re not currently in a BMW and don’t get the 2% loyalty the card edits are $2500, but there’s another $1k available if you’re company has a car allowance policy (mine does). 6% off for showroom I’d say is minimum. It’s not bad, some certainly do worse, but if you call a few locations for comparison you should be able to get 7%... which they’ll say is all the margin they have and more or less true before holdback. That said if it’s your local BMW you should get the extra 1% just because it’s worth it for them to get another customer into service. If it’s a location with a lot of inventory, specifically a lot of M340’s you can get better than 7% since they need cash flow. If they only have 1 or a few of the model they may hold at 6-7% off and focus on clearing other models. What part of the country are you in? I made the drive to Laval to get a car with the exact build I wanted and because they had a lot of inventory I got 8%. All that said if it’s the exact car you want and it’s local then 6% off in Canada is just fine so don’t feel bad pulling the trigger.
Thanks for the reply!

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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Quote:
Originally Posted by G20Dream View Post
Thanks for the reply!

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.
There is a $500 and $1000 credit with different conditions. I’ll find the code for the $1k I received. No break on the delivery costs, they’re sunk costs, Ontario is higher than Quebec so I saved a few dollars there. You do have some negotiation Being showroom... I’d go over it with a fine toothed comb and point out some micro scratches.

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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Quote:
Originally Posted by G20Dream View Post
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!
I sent a PM your way but not sure it went through, I had an error on my end.
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      06-18-2020, 03:58 PM   #18
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Quote:
Originally Posted by TorontoGambler View Post
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.
Wow 8%! Well I made a deal a few days ago and was able to get 4000 off total, I still have to pay some sort of other costs . Thanks for the info everyone
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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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Quote:
Originally Posted by G20Dream View Post
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!
Hi G20 dream , first off congrats ! Did you still have to pay any of their admin fees and registration fees ? Thanks!
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      07-07-2020, 11:59 AM   #21
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Originally Posted by Siakam2020 View Post
Hi G20 dream , first off congrats ! Did you still have to pay any of their admin fees and registration fees ? Thanks!
Hey - yeah there was a $595 admin fee and i also opted for the excess wear & tear protection (no deposit required as a result).

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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