08-18-2020, 02:35 PM | #1 |
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My M340i Lease Worksheet
Just posting as FYI for other members. I have read a few threads where people were wondering about current lease discounts etc. I ordered my car back in March and will be taking delivery this Friday. Couple things to keep in my here for my numbers: it’s a 3 year lease, 15k year miles, 56% residual. Buy rate for the MF. I’m only putting $1,500 out of pocket “down” with $803 going to first payment, so my capital cost reduction is only $697.00. This is my first BMW. Cheers!
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08-18-2020, 02:54 PM | #2 |
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I'd point out that, based upon the worksheet you've posted, this is for a 2020 model. The incentives for the '21s are a great deal different (a great deal worse...). For those who don't want to do the math, this is a pre-incentive discount of 8.25%. For reference, there is a broker on this message board who is advertising 9% discounts, pre-incentive, on 2021 orders.
Edit: for future reference, the pre-incentive discount is closer to 5%; I did not see that the car was marked up above MSRP. Please see my post #10 below. Hope this helps anyone looking to negotiate a lease going forward. Last edited by mf44; 08-21-2020 at 09:35 AM.. |
08-18-2020, 02:58 PM | #3 | |
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You can get 9% off without paying a broker a fee |
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08-18-2020, 03:01 PM | #4 | |
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The MF and the residual are the same for '20s and '21s. (The MF is the same for ALL BMWs actually.) The only difference, at present at least, between '20 and '21 M340s is the lease cash and loyalty/conquest incentives. |
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08-19-2020, 04:06 PM | #5 |
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M340 Lease Current Worksheet 8/18–special order
Right on my 2020 order that got canceled I had more then 9% on my order. Once it got canceled I didn't want to go thru the process of hunting for a dealer that would give me the same deal so choose a broker for the interest of time.
For the OP congrats on your new car. If your monthly payment is $697 then it's solid it lines up with the numbers assuming your $1500 down payment went towards the fees, if your payment is $800 they hiding about 100$ from you in payments. Also according to the calculator your residual should be 35k. Don't let my respond steal your joy and happiness of your new and first bmw. |
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08-19-2020, 05:12 PM | #6 |
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Thank you for the feedback. Your point re residual is a good one. It should be $35,400.00, yet the worksheet has it at $33,542. Can the dealer manipulate the residual i.e. lower past the 56% BMW has set.
Appreciate the feedback. |
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08-19-2020, 06:14 PM | #7 |
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Your welcome I do feel bad because when I signed the lease on my last car (c43) and found out that the dealership mislead me and basically robbed 4k from me I was pretty upset.
They can't change the residual value it's a number given by the manufacturer. What they can do is move money around to manipulate the price of the car which affects the RV. From what it looks like they took the 2k incentives took that off the msrp making it 60k and when you plug those number back in it's at 33k residual. They did some funny stuff with the numbers. |
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08-21-2020, 12:31 AM | #8 |
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so wait is your payment $803?!
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08-21-2020, 08:04 AM | #9 |
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Yes, the projected payment is $807, but as Casone238 pointed out the dealer has lowered the residual in calculating the numbers to 53% instead of 56%, which has artificially increased my payment. I’ll post revised worksheet once I address this issue with the dealer.
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08-21-2020, 09:33 AM | #10 | |
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The dealer CANNOT change the residual value of a vehicle. Residual is a percentage of the MSRP, period, end of story. What is MSRP? Generally, the price printed on the window sticker. The residual % is set by the manufacturer, on a monthly basis, and it only changes based upon the term and number of miles for your lease. What is going on here? The dealer is marking *up* the car, plain and simple. Notice what the worksheet says: Market Value Selling Price. It does not say MSRP. What they have done is taken the value of incentives you qualify for ($2000), and then added that on top of the MSRP, so that the dealer pockets *your* incentives. Frankly, this is a terrible deal and I'd be furious if a dealer pulled this on me. There is no reason a M340i should be marked up. When you factor in the fact they are essentially marking up the car, your true pre-incentive discount is 5%. |
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08-21-2020, 11:17 AM | #11 |
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I appreciate everyone’s feedback here. Just left the dealer, so they weren’t increasing the price of the car, I have port installed accessories so that is the correct price, but what they did was used the msrp without the port installed accessories to calculate the residual. Needless to say I was pissed. So now my payment with the correct residual is $735 a month got an additional $500.00 discount plus free wheel and tire protection.
Thanks again. I’ll post pic once car is finally here. |
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08-21-2020, 11:23 AM | #12 | |
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Enjoy the car once you take delivery! |
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08-21-2020, 11:27 AM | #13 |
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Thank you! And, thanks again for feedback. Much appreciated.
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08-21-2020, 04:21 PM | #14 |
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I'm Sooo happy that your deal wasn't locked in that you still had the chance to revise it, I still believe your payments could be lower but your new payment is in the ball park
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08-22-2020, 03:05 PM | #16 |
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Congrats on new car. Yeah I’m happy at 735, but I’m still waiting on car to be delivered from port, it’s now been two weeks since car arrived at port.
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08-25-2020, 05:12 PM | #17 |
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I have an X5 lease and it’s over in 2021 and I’m leaning toward the M340i. What do you think if I go in and tell them I want to pay $600 a month for an M340i with a sticker of 62k. How do you think it will turn out for me?
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08-25-2020, 06:05 PM | #18 |
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Always aim for the best deal, not the lowest payment. They are not always one in the same.
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08-25-2020, 08:14 PM | #19 |
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$600 a month. With any downpayment/cap cost reduction? Fees up front or rolled in? Or true sign and drive? How much DAS? Will you use MSDs? Kind of hard to assess just based on saying "I want to pay $600 a month". My best suggestion is to learn a bit more about how leasing works before you even engage with the dealer.
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08-25-2020, 09:21 PM | #20 |
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I would add always negotiate the price of the car first and do not tell them how much you want to put down or what your ideal monthly payment is because if you do they will try to just hit that number, instead of you getting the best deal.
And, then check your eligibility for all rebates and incentives. Once you start talking cap cost reduction make sure to tell them you only want to spend X out of pocket the idea with a lease is to pay as little as possible out of pocket IMO. By telling them your max out of pocket that will include your first monthly payment otherwise they may get ya with a down payment plus first months payment. Try to avoid that. Go to a dealer and give them to do a worksheet and post it. You will get feedback. |
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08-26-2020, 06:49 AM | #21 |
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Hey On_the _go thank you for the advice I will do that and post what they input. The CA I got my current lease is on here so hopefully that being said I might get a fair shake. Again thank you.
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