04-25-2020, 09:51 PM | #1 |
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Should I take this M340i offer?
Just got this offer this morning, I dont have all numbers yet, requested but not yet sent over... Some of it Im sure can be guessed.
36 month lease M340, 10k (will need to up it to 15k, ~$50/mo more) MSRP $58,805 Cash from me: $3619 Discount: $4,500 Rebates: $3,000 Payment: $553.84 ($596.76 with tax) Upfront charges: $1,137.75 (What ever those are) Should I take it? There are really only about 2 M340s in my area that match what I want/need, the others have wheels I dont want, colors I dont like or are way too over optioned/priced. Ugh.. Thanks or any feedback.
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2019 Alfa Romeo Guilia (Totaled) 2020 Car-less 😁 (no more) 2020 M340 Last edited by Fraggy; 04-26-2020 at 05:27 PM.. |
04-25-2020, 09:54 PM | #2 | |
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Also ask for your residual and Money Factor |
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04-25-2020, 10:23 PM | #3 |
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I asked for MF, but still waiting for the info, residual is $35,283.
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04-25-2020, 10:30 PM | #4 |
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Yeah don't take any deal without finding out the money factor. I would check the lease hacker forum, they have brokers etc plus the calculator will show you what your getting value wise. Hold off, get the info.
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04-25-2020, 10:52 PM | #5 |
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Just based off initial impression, it doesn't look like a great deal. You're getting less than 8% discount, where you should really be in the ballpark of 10% off.
What's the $3,619 cash from you going towards?
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04-26-2020, 05:29 PM | #6 |
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I dont seem to have enough of the info for it to work to well, I used what I had and it gave me a year score of 8.xx years. I have no frame of reference if thats good or not though.
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04-26-2020, 05:30 PM | #7 |
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I am not sure without asking and they are closed today, but I'm assuming down payment.
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04-26-2020, 06:10 PM | #8 | |
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granted i did full MSD's, but i'm paying $100 more a month with 12k miles with $1600 due at signing, and my msrp was 73k
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04-26-2020, 07:34 PM | #9 | |
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04-26-2020, 07:49 PM | #10 | |
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I got $4500 off a $58350 msrp car. I am happy with my purchase, but then again it was a custom order, I think you can probably get more off a lot car off msrp. You're in san diego, theres a ton of dealers in LA that will do 10% off (unless this has somehow changed due to no new cars coming from coronavirus, but I highly doubt that) |
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04-27-2020, 06:14 AM | #11 |
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The leasehackr score is a pretty useless metric. It doesn't really tell you if it's a good deal or not because it's not car brand/model or region specific, it's just a generalized number. A score of 9 could be amazing on one car, and total crap on another car.
Best bet is to look at what majority of "good deals" are on this car, especially in your region. From what I've seen, the standard good deal has been 10% off pre-incentive, with base money factor. Don't put any downpayment, instead put that towards MSD's.
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04-27-2020, 06:57 AM | #12 | |
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04-27-2020, 07:44 AM | #13 | |
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The other issue with the score is that it's manipulated by things like incentives and residual value (things which are non-negotiable). If someone is looking to lease their first BMW, and they don't qualify for loyalty, do we tell them to simply stay away from BMW because they can't get their score over a certain arbitrary number despite all other factors being equivalent to other "good" deals? The only way I can see the score being useful is if you're comparing the same car, in the same region, and same qualifying inventives, with an adequate sample size of scores to provide an idea of the range you should be looking at. If you're simply comparing 2 cars' scores, you don't have a sense of if both of those cars are a "bad" deal, or if one's a good deal and one's not. If one doesn't understand the intricacies of leasing - well there's no shortage of information to develop an understanding. And if one doesn't have the time or desire to understand it, then, as you say, best to use a local broker.
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04-27-2020, 10:09 PM | #14 |
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If that is truly a down payment (odd to get a number like $3,619 though), that equates to your payment being around 100 more a month if you didn't add a down payment. I would get some more information on the provided numbers they gave you, doesn't sound too good from what I can tell.
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05-04-2020, 01:09 AM | #15 | |
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Also I got 11% off before incentives in SoCal, but that was back in October. You can probably do better than this offer tho. If you don't want to deal with negotiating contact a broker and see what they can do. |
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