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      09-05-2020, 08:46 PM   #1
odiesback
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Lease Deal: Thoughts?

Hi everyone,

I met with a CA this afternoon and worked on the following deal. What do you think? Car is in production and delivery in 30 days.

2021 330i xDrive

- Mineral Gray
- Black Vernasca Lewather

Packages
- ZDA Driving Assistance
- ZPK Parking Assistance
- ZPP Premium

Options
- Remote Start
- 19" wheel 793i
- Power Tailgate
- HK Stereo Updagrade
- Wireless Charging

MSRP $54,070

Dealer Discount: $5,845 (includes $1000 Drive Event Credit)
Rebate: $ 500

Agreed Price: $48,225

36/15k Lease MF: 0.00129

Fees:
$500 docs
$331 tags
$2,927 Maryland upfront sales tax

NET CAP COST: $52,404

MONTHLY: $723 with $0 down

Thank you in advance!
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      09-05-2020, 09:09 PM   #2
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I have not run it through a lease calc so I do not know if the numbers you gave match the payment. That being said, based on the numbers you list, you are getting a 9.8% discount pre-incentive (the dealer discount is actually $5345, $500 of the drive event credit is a BMW factory rebate). That's not a terrible discount % at this point in time, though the marked up MF (see below) makes it a worse deal. For reference, I have seen brokers offering 10% pre-incentive discount, with base MF, for ordered '21 M340is.

If you have loyalty, which I'm guessing you do as you list a $500 rebate, do you have a current BMW lease? Or have had one in the last 12 months? If so, there is an additional $500 rebate available this month for current BMW lessees (total of $1000 [$500 loyalty + $500 lessee credit]). Ask your dealer where that extra $500 is, if you are eligible.

Also, your money factor is marked up. Base MF is .00099. Given the marked up MF, it means your 9.8% discount isn't as strong. I would go back and ask for a flat 10% off, pre-incentive (and make sure to remove the drive event money from your pre-incentive discount) with base MF. Also make sure they are including all eligible incentives if you have a BMW lease.
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      09-05-2020, 10:31 PM   #3
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Quote:
Originally Posted by odiesback View Post
Hi everyone,

I met with a CA this afternoon and worked on the following deal. What do you think? Car is in production and delivery in 30 days.

2021 330i xDrive

- Mineral Gray
- Black Vernasca Lewather

Packages
- ZDA Driving Assistance
- ZPK Parking Assistance
- ZPP Premium

Options
- Remote Start
- 19" wheel 793i
- Power Tailgate
- HK Stereo Updagrade
- Wireless Charging

MSRP $54,070

Dealer Discount: $5,845 (includes $1000 Drive Event Credit)
Rebate: $ 500

Agreed Price: $48,225

36/15k Lease MF: 0.00129

Fees:
$500 docs
$331 tags
$2,927 Maryland upfront sales tax

NET CAP COST: $52,404

MONTHLY: $723 with $0 down

Thank you in advance!
Something is not right there
My 2020 340 MSRP is 59,950, $0 down and $588 with TX tax per month.
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      09-05-2020, 11:14 PM   #4
mf44
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At second glance, I see this is a 330, not a M340. 330s should have a higher rebate amount, unless it's drastically lower for your region. You should verify residual and incentives for your zip code on edmunds lease forum, then run the numbers through a lease calc. If your base numbers are wrong, it makes it very hard for us to assess.
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      09-05-2020, 11:25 PM   #5
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Thanks for the replies and your input. Much appreciated!

Yes, there is something there that I am not so clear about. Looking at the Deal Summary sheet, I see a $500 rebate back on my drive-off total, so I have the first payment of $723 + $500 (Rebate) with a total of $1,223 due on delivery! Puzzled to say the least!

I have a current lease on my M4 and it is my 10th account with BMWFS. So beyond loyalty at this point!

Will plug the numbers and any other feedback will be great! Thanks
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      09-06-2020, 12:41 AM   #6
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$723 per month for a 330i? Run, not walk, away from the dealer!!!
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      09-06-2020, 06:59 AM   #7
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Quote:
Originally Posted by mf44 View Post
If you have loyalty, which I'm guessing you do as you list a $500 rebate, do you have a current BMW lease? Or have had one in the last 12 months? If so, there is an additional $500 rebate available this month for current BMW lessees (total of $1000 [$500 loyalty + $500 lessee credit]). Ask your dealer where that extra $500 is, if you are eligible.
Iíve never seen loyalty and a current lessee credit as they sound synonymous and the terms seem to match the loyalty terms? This is for first mention of that additional rebate that Iíve seen on here. A lot of us have cars coming this month and that would be welcome news.
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      09-06-2020, 07:42 AM   #8
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Quote:
Originally Posted by VipinLJ View Post
$723 per month for a 330i? Run, not walk, away from the dealer!!!
Yup.... regardless of all the other numbers, in no world should you be paying that much for a 330i unless you've rolled in negative equity or are just feeling charitable towards BMW.
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      09-06-2020, 08:46 AM   #9
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Quote:
Originally Posted by jdbimmer View Post
Iíve never seen loyalty and a current lessee credit as they sound synonymous and the terms seem to match the loyalty terms? This is for first mention of that additional rebate that Iíve seen on here. A lot of us have cars coming this month and that would be welcome news.
Itís a separate rebate and different from loyalty in that it only applies to lessees. It does not apply to those who own a BMW. I, too, have never seen this before but itís there and itís new for September. Many lease brokers have confirmed this.

To the OP, this deal sounds wacky. You first need to understand what the terms of the deal are and it sounds like they are not being very clear. Either ask the dealer for specifics or find a new dealer.
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      09-06-2020, 09:15 AM   #10
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Quote:
Originally Posted by odiesback View Post
Hi everyone,

I met with a CA this afternoon and worked on the following deal. What do you think? Car is in production and delivery in 30 days.

2021 330i xDrive

- Mineral Gray
- Black Vernasca Lewather

Packages
- ZDA Driving Assistance
- ZPK Parking Assistance
- ZPP Premium

Options
- Remote Start
- 19" wheel 793i
- Power Tailgate
- HK Stereo Updagrade
- Wireless Charging

MSRP $54,070

Dealer Discount: $5,845 (includes $1000 Drive Event Credit)
Rebate: $ 500

Agreed Price: $48,225

36/15k Lease MF: 0.00129

Fees:
$500 docs
$331 tags
$2,927 Maryland upfront sales tax

NET CAP COST: $52,404

MONTHLY: $723 with $0 down

Thank you in advance!
54,050 MSRP
50,225 resale
2,000 loyalty rebate
0.00099 MF

should be $592/month for 36/10k
$640/month for 36/15k
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      09-06-2020, 09:15 AM   #11
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Below is my lease offer sheet:

I see Nitro and especially $1,256 "Non Tax Fee" as questionable charges

I have lease many cars through BMWFS before and this is the first time I am not clear on exactly what I am looking at.

According The a lease hack calc, if I take another $1000 off the sales price and remove the charges I mentioned above, I am getting $681 month.
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      09-06-2020, 09:23 AM   #12
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Quote:
Originally Posted by odiesback View Post
Below is my lease offer sheet:

I see Nitro and especially $1,256 "Non Tax Fee" as questionable charges

I have lease many cars through BMWFS before and this is the first time I am not clear on exactly what I am looking at.

According The a lease hack calc, if I take another $1000 off the sales price and remove the charges I mentioned above, I am getting $681 month.
The fees are insane, and make sure they show you the residual.
we have seen the cases where they used a bogus number even though the residual is a constant.
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      09-06-2020, 10:26 AM   #13
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Quote:
Originally Posted by drF80 View Post
The fees are insane, and make sure they show you the residual.
we have seen the cases where they used a bogus number even though the residual is a constant.
Residual is 56% and it seems to be correct in the calcs.

Agreed. Fees are insane and I am considering make them an counteroffer tomorrow.

Looking at an extra $2000 off overall and MF .000099 to bring payment down to mid 600s.

Also, taking quotes from different places and broker.
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      09-06-2020, 11:28 AM   #14
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Lmao. They're going to charge you $69 for nitrogen in the tires. Tell them you want air for free. And they can keep their nitrogen.
And $1256 in non tax fees. It crazy. Even $681 is a lot for a 330i. I pay $570 for a 51k msrp 330i with zero down and no MSDs etc and I think I got robbed compared to what others here are paying.
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      09-08-2020, 08:02 PM   #15
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Your payment should be around $616 based on your worksheet it appears to me that instead of using the residual of the MSRP to calculate the payment they have used the adjusted price of 47,725. Just ask them to put the MF and the residual on the worksheet so you will have better transparency.

47,725 x.56 =26,726. Then subject that from the final price of 52,477 you get 25,751/36 equals 715 a month. Pretty close to your payment.

FYI I just leased my 2020 M340 I and my payment is exactly 723 a month for a 36 month 15k lease and I have wheel and tire protection plus the ceramic paint protection rolled into my monthly payment. So the payment quote for your lease is off. I did put 1500 down that includes first payment.

Iíd get a revised worksheet showing MF and residual they are using and go from there.
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      09-09-2020, 02:59 PM   #16
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Thank you everyone!

I went elsewhere and I am happy now with a decent deal.
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      09-09-2020, 03:05 PM   #17
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Quote:
Originally Posted by odiesback View Post

I went elsewhere and I am happy now with a decent deal.
Perfect! Not only did you get a better deal, but you didn't reward that dealership's ridiculous way of quoting leases.
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      10-04-2020, 08:50 AM   #18
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Glad you got a deal elsewhere.

Thought I'd share my experience yesterday for an almost comedic relief. I stopped at my local dealer to order a 330i. The MSRP will be $54,820. The offer sheet listed $3,000 down and $910/month for 10k miles a year (even though I asked for a zero down & 12k/year rate). With no breakdown of fees, MF, and residual value, of course.

I told the CA that is more than I pay for my $77k 540i, which required zero down. She said she would be able to "sharpen the numbers a bit" if I was sure I was ready to order. (Which I was.) I couldn't even continue the conversation with a straight face.

I have given this dealer the chance to earn my business for my past three BMWs and each time their rates add up to $4k+ more than I've negotiated at dealers an hour or so north in Tampa Bay. This offer takes the cake though, at ~$13k more than I expect to pay elsewhere based on posts here. I seriously do not understand how this dealer stays in business.
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      10-04-2020, 05:49 PM   #19
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Quote:
Originally Posted by ArchJR View Post
Glad you got a deal elsewhere.

Thought I'd share my experience yesterday for an almost comedic relief. I stopped at my local dealer to order a 330i. The MSRP will be $54,820. The offer sheet listed $3,000 down and $910/month for 10k miles a year (even though I asked for a zero down & 12k/year rate). With no breakdown of fees, MF, and residual value, of course.

I told the CA that is more than I pay for my $77k 540i, which required zero down. She said she would be able to "sharpen the numbers a bit" if I was sure I was ready to order. (Which I was.) I couldn't even continue the conversation with a straight face.

I have given this dealer the chance to earn my business for my past three BMWs and each time their rates add up to $4k+ more than I've negotiated at dealers an hour or so north in Tampa Bay. This offer takes the cake though, at ~$13k more than I expect to pay elsewhere based on posts here. I seriously do not understand how this dealer stays in business.
I don't even understand how they even came up with those numbers
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      10-04-2020, 06:33 PM   #20
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Quote:
Originally Posted by Casone238 View Post
Quote:
Originally Posted by ArchJR View Post
Glad you got a deal elsewhere.

Thought I'd share my experience yesterday for an almost comedic relief. I stopped at my local dealer to order a 330i. The MSRP will be $54,820. The offer sheet listed $3,000 down and $910/month for 10k miles a year (even though I asked for a zero down & 12k/year rate). With no breakdown of fees, MF, and residual value, of course.

I told the CA that is more than I pay for my $77k 540i, which required zero down. She said she would be able to "sharpen the numbers a bit" if I was sure I was ready to order. (Which I was.) I couldn't even continue the conversation with a straight face.

I have given this dealer the chance to earn my business for my past three BMWs and each time their rates add up to $4k+ more than I've negotiated at dealers an hour or so north in Tampa Bay. This offer takes the cake though, at ~$13k more than I expect to pay elsewhere based on posts here. I seriously do not understand how this dealer stays in business.
I don't even understand how they even came up with those numbers
Quote:
Originally Posted by Casone238 View Post

I don't even understand how they even came up with those numbers
Me neither. It wasn't even worth asking at that point. Can't wait for the follow up how can we earn your business call this week, if they even bother.
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      10-05-2020, 07:19 AM   #21
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This sounds a lot like what many home sellers are doing: listing their homes for ridiculous prices, hoping that in a short-supply market that someone will bite out of desperation.
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      10-06-2020, 12:51 AM   #22
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Quote:
Originally Posted by ArchJR View Post
Glad you got a deal elsewhere.

Thought I'd share my experience yesterday for an almost comedic relief. I stopped at my local dealer to order a 330i. The MSRP will be $54,820. The offer sheet listed $3,000 down and $910/month for 10k miles a year (even though I asked for a zero down & 12k/year rate). With no breakdown of fees, MF, and residual value, of course.

I told the CA that is more than I pay for my $77k 540i, which required zero down. She said she would be able to "sharpen the numbers a bit" if I was sure I was ready to order. (Which I was.) I couldn't even continue the conversation with a straight face.

I have given this dealer the chance to earn my business for my past three BMWs and each time their rates add up to $4k+ more than I've negotiated at dealers an hour or so north in Tampa Bay. This offer takes the cake though, at ~$13k more than I expect to pay elsewhere based on posts here. I seriously do not understand how this dealer stays in business.
Lmao wow. And I thought the quote I got in the $800s was bad. I don't understand why they bother doing this dance. I guess it must work on some suckers.
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