07-24-2019, 10:43 AM | #1 |
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Is this a good deal?
Hi, got quoted with $718/mo with no out of pocket. 36/mo lease. The MSRP is $62000. This is all the info I got for now... Is this a good deal? Thanks.
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07-24-2019, 11:17 AM | #2 | |
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- Do you have BMW loyalty? - Is this a car on the lot or is it a custom order? - What region are you in - What is the lease cash for your region? Some have $1000, others have $500. - Do you qualify for education or military rebates? - Is this a 10K mile a year Lease? - Are you putting MSDs down? - What is your lease tax rate? - Is tax included on those numbers? - Do you know the Money Factor they used? - What is the selling price before incentives? |
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07-24-2019, 12:36 PM | #3 | |
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07-24-2019, 12:58 PM | #4 |
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Drives: 2019 X740i
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07-24-2019, 01:01 PM | #5 | |
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If you had horrible credit, didn’t put any additional security deposits down, didn’t put a down payment, you didn’t qualify for any special offers or credits, didn’t pay your taxes upfront, and/or you were asking for an allowance of 15,000 miles per year then $718 per month might be an amazing deal. But if you have great credit, put multiple security deposits down, placed a down payment, you qualified for rebates / offers, prepaid all the taxes, and only wanted an allowance of 10,000 miles per year than $718 per month is a horrible deal. These are the type of factors that matter in a lease payment. You can take a look on some of the threads here to see what type of deal people are getting based on these various factors. And as an FYI, my MSRP is just over $63k and I’m paying $650 a month (including taxes, no money down). And a few others here managed to get even better deals than me. You can see my post history to find a post that includes all the other factors that applied to my deal. |
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07-24-2019, 01:17 PM | #6 | ||
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The $534 number is also without using an OL code or student/military discount, any of which can reduce this number even more. If this car was on the lot, you could possibly aim for $507/month with first month and DMV DAS. So without knowing anything else, I would say this is not a great deal. Here is the calculation I used: leasehackr.com/calculator?make=BMW&miles=10000&msd=7&msrp=62000&s ales_price=55490&months=36&mf=.00145&dp=0&dealer_f ee=0&acq_fee=925&taxed_inc=0&untaxed_inc=3000&reba te=366&resP=61®_fee=320&sales_tax=9&demo_mileag e=0&memo=&monthlyTax_radio=true Here are the assumptions I made: - You have BMW loyalty ($2K incentive) - Your region has $1000 lease cash incentive - You negotiated 10.5% pre incentives like I did - You received base MF, and then reduced it to 0.00110 after 7 MSDs - You are looking at 10K miles/year - You are custom ordering a car and not picking one off the lot - Your region charges sales tax only on the monthly and not on the complete price of the car I think you can do better, but depending on other factors, your deal may be good. |
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07-24-2019, 03:35 PM | #7 | |||
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07-24-2019, 03:39 PM | #8 | |
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