Is this a good lease?

aliusa · 03-22-2021, 04:05 PM

Test drove a '21 M5 Comp today and loved it.

Is this a good lease? I've seen some folks getting it at $1200/month. Per the finance guy, they would have to shave $12k from somewhere to get a $1200/mth payment. MF is .00125.

ash84 · 03-22-2021, 04:24 PM

They're only giving 3% off looks like. I think many people have been able to easily get 5-8% off MSRP if not more. As a rule, I don't put cash down on leases, that's money lost should the car get totaled. Numbers are not competitive in my book. Also, correct me if I'm wrong, but your MF is marked up. I believe March base MF is 0.00086. Depending on your state, you can also maximize MSDs to decrease your MF and reduce your monthly payments. I would renegotiate or walk.

POBA · 03-22-2021, 04:53 PM

IMHO.... I will walk away from this deal, you can do much better, good luck!

milehighguy · 03-22-2021, 05:05 PM

Yeah this deal isn't competitive at all. Current base MF of .00086 should be a given. Also, noticed a crazy high processing fee too?

aliusa · 03-22-2021, 05:15 PM

Thanks gents. The MF used is coming out to 3%. The lowest finance rate the dealer is offering is 2.99%. I told them that the MF rate they used is pretty high.

Been going to this dealership for last 18 years for service work but never got a car from them because they never offer a good deal.

Ended up walking away. Told them I'll get the car today if they work out the numbers.

aliusa · 03-22-2021, 05:17 PM

Quote:

Originally Posted by dworkman99

Yeah this deal isn't competitive at all. Current base MF of .00086 should be a given. Also, noticed a crazy high processing fee too?

Some dealers are charging $899 processing fee here in Virginia.

AHall · 03-22-2021, 05:27 PM

That bluestone is a nice color!! Give them whatever they want for it

m3forme2016 · 03-22-2021, 07:41 PM

Base MF is ~2%. They marked it up to 3%, which comes out to an extra $100/month.

3% off the price is not good, but not horrible either. Many dealers sell at MSRP.

I think it depends on the colors and options. Yes, you can spend a lot of time contacting every dealer selling an M5 to get the best deal. But finding the best one that has the right colors and options at a great price may not be a lot less than this one. Also, any options that you don't really want are going to raise the price by several thousand dollars...

They are offering about $3k off MSRP. 8% off would be $10K. So that would be $5K/36 months ~ $150/month.

So a great deal would be $250/month less. It really depends on how much time you want to spend and how flexible you are about colors and options. How much time do you want to invest to save $250/month?

Also, it will probably cost $500 to $1K for shipping.

Currently CarGurus (https://www.cargurus.com/Cars/new/se...earch=76832151) is listing 112 new M5's. You can quickly contact them using the form on the site.

Also, you may want to go to the dealer just before closing on the last day of March (31), which is not far away. Dealers are typically under pressure to make sales at the end of the month. So you would have maximum leverage at that time.

spuntyb · 03-22-2021, 08:22 PM

I had trouble finding a good deal on a 21, so I went back in time on Swapalease, and took over someone else's numbers when deals were better

The5rivers · 03-22-2021, 08:48 PM

Terrible deal. MF is marked up and discount is minimal. Shop other dealers or save time and get a broker. They will get you 8% off plus base MF.

Good luck!

EDIT: read this thread to get a better idea of the deals people are getting.
https://f90.bimmerpost.com/forums/sh...541178&page=20

Stan675LTS · 03-22-2021, 10:14 PM

The deal by the owner in this thread looks like the target.
https://f90.bimmerpost.com/forums/sh....php?t=1749764

dcwjd · 03-23-2021, 02:25 AM

I was able to get 10% off, base money factor and all incentives applied to my 2021 m5 comp. I used a broker from Leasehackr. I’m paying $1346 a month with NY tax on a 125k MSRP car.

Greer · 03-23-2021, 02:29 AM

NO DEAL. Next.

Rosco P · 03-23-2021, 05:21 AM

10.5% discount plus incentives and base mf on 2021 comp. Deals are out there...

bruza · 03-23-2021, 08:33 AM

TERRIBLE deal, like others said. Never put money down on a lease.

Aim for 8% + off.

Crumbs · 03-23-2021, 08:51 AM

horrific.

Maverik259 · 03-23-2021, 11:46 AM

dude get a broker....hands down the only option for leasing IMO. This is their whole job and you don't pay a dime to them until you pick the car and approve the numbers! Only down side is that the exact car may not be readily available but shouldn't be too hard to find. Just tell em what you want.

I got my '20 for 12% off, 0 down, 10k miles with every option i wanted, for $1350 including wheel protect package.

gblansten · 03-23-2021, 11:49 AM

That's brutally non-competitive. Sorry.

shellbmb · 03-23-2021, 12:05 PM

Quote:

Originally Posted by Maverik259

dude get a broker....hands down the only option for leasing IMO. This is their whole job and you don't pay a dime to them until you pick the car and approve the numbers! Only down side is that the exact car may not be readily available but shouldn't be too hard to find. Just tell em what you want.

I got my '20 for 12% off, 0 down, 10k miles with every option i wanted, for $1350 including wheel protect package.

Just curious, how are brokers compensated? Do they charge a flat fee or percentage of reduction in overall cost? And are those fees paid by the owner or dealer? Pardon the ignorance.

spuntyb · 03-23-2021, 12:14 PM

Quote:

Originally Posted by Maverik259

dude get a broker....hands down the only option for leasing IMO. This is their whole job and you don't pay a dime to them until you pick the car and approve the numbers! Only down side is that the exact car may not be readily available but shouldn't be too hard to find. Just tell em what you want.

I got my '20 for 12% off, 0 down, 10k miles with every option i wanted, for $1350 including wheel protect package.

When did you order? My broker had zero deals on 21s in mid-February.

spuntyb · 03-23-2021, 12:16 PM

Quote:

Originally Posted by shellbmb

Quote:

Originally Posted by Maverik259

dude get a broker....hands down the only option for leasing IMO. This is their whole job and you don't pay a dime to them until you pick the car and approve the numbers! Only down side is that the exact car may not be readily available but shouldn't be too hard to find. Just tell em what you want.

I got my '20 for 12% off, 0 down, 10k miles with every option i wanted, for $1350 including wheel protect package.

Just curious, how are brokers compensated? Do they charge a flat fee or percentage of reduction in overall cost? And are those fees paid by the owner or dealer? Pardon the ignorance.

Usually flat rate. You can look here for more info. Dan is who I used for my F98 order, which I then backed out of for an F90. Lots of good info in the thread, and you can PM him directly. Others out there too.

BMW Broker here, Ask Me Anything about car leases/purchases! https://f90.bimmerpost.com/forums/sh....php?t=1714367

I agree with above though. I've leased a number of cars on my own, and become decent at it, but paying the fee and having everything handed to you is totally worth it. Takes literal minutes on the phone if they have an allocation.

The5rivers · 03-23-2021, 12:38 PM

Quote:

Originally Posted by spuntyb

When did you order? My broker had zero deals on 21s in mid-February.

Yeah 10% or higher was more common pre-January. Jan/Feb/Mar has been around 8-9% with a broker.

03-22-2021, 04:05 PM	#1
aliusa Private First Class 86 Rep 102 Posts Drives: F10 M5 CP Join Date: Jun 2007 Location: Washington DC iTrader: (0)	Is this a good lease? Test drove a '21 M5 Comp today and loved it. Is this a good lease? I've seen some folks getting it at $1200/month. Per the finance guy, they would have to shave $12k from somewhere to get a $1200/mth payment. MF is .00125. Attached Images
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03-22-2021, 04:24 PM	#2
ash84 New Member 4 Rep 10 Posts Drives: '20 Merc GLC63, '18 Audi S4 Join Date: Oct 2020 Location: Melbourne, FL iTrader: (0)	They're only giving 3% off looks like. I think many people have been able to easily get 5-8% off MSRP if not more. As a rule, I don't put cash down on leases, that's money lost should the car get totaled. Numbers are not competitive in my book. Also, correct me if I'm wrong, but your MF is marked up. I believe March base MF is 0.00086. Depending on your state, you can also maximize MSDs to decrease your MF and reduce your monthly payments. I would renegotiate or walk.
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03-22-2021, 04:53 PM	#3
POBA Lieutenant 272 Rep 526 Posts Drives: 2023 M5C Join Date: Jan 2015 Location: NY iTrader: (0)	IMHO.... I will walk away from this deal, you can do much better, good luck!
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03-22-2021, 05:05 PM	#4
milehighguy Private First Class 79 Rep 102 Posts Drives: 2024 M3 Comp- On order Join Date: Oct 2015 Location: COLORADO iTrader: (0)	Yeah this deal isn't competitive at all. Current base MF of .00086 should be a given. Also, noticed a crazy high processing fee too?
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03-22-2021, 05:15 PM	#5
aliusa Private First Class 86 Rep 102 Posts Drives: F10 M5 CP Join Date: Jun 2007 Location: Washington DC iTrader: (0)	Thanks gents. The MF used is coming out to 3%. The lowest finance rate the dealer is offering is 2.99%. I told them that the MF rate they used is pretty high. Been going to this dealership for last 18 years for service work but never got a car from them because they never offer a good deal. Ended up walking away. Told them I'll get the car today if they work out the numbers.
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03-22-2021, 05:27 PM	#7
AHall Lieutenant Colonel 983 Rep 1,798 Posts Drives: 1993 Nissan 240sx Join Date: Oct 2008 Location: Frisco, Texas iTrader: (0)	That bluestone is a nice color!! Give them whatever they want for it
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03-22-2021, 07:41 PM	#8
m3forme2016 Private First Class 48 Rep 199 Posts Drives: F80 SSII/SS Comp Join Date: May 2012 Location: USA iTrader: (0)	Base MF is ~2%. They marked it up to 3%, which comes out to an extra $100/month. 3% off the price is not good, but not horrible either. Many dealers sell at MSRP. I think it depends on the colors and options. Yes, you can spend a lot of time contacting every dealer selling an M5 to get the best deal. But finding the best one that has the right colors and options at a great price may not be a lot less than this one. Also, any options that you don't really want are going to raise the price by several thousand dollars... They are offering about $3k off MSRP. 8% off would be $10K. So that would be $5K/36 months ~ $150/month. So a great deal would be $250/month less. It really depends on how much time you want to spend and how flexible you are about colors and options. How much time do you want to invest to save $250/month? Also, it will probably cost $500 to $1K for shipping. Currently CarGurus (https://www.cargurus.com/Cars/new/se...earch=76832151) is listing 112 new M5's. You can quickly contact them using the form on the site. Also, you may want to go to the dealer just before closing on the last day of March (31), which is not far away. Dealers are typically under pressure to make sales at the end of the month. So you would have maximum leverage at that time.
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03-22-2021, 08:22 PM	#9
spuntyb Brigadier General 4062 Rep 4,984 Posts Drives: 2019 F90 Competition Join Date: Aug 2013 Location: USA iTrader: (0)	I had trouble finding a good deal on a 21, so I went back in time on Swapalease, and took over someone else's numbers when deals were better __________________ <b>2023 M5C SRG\|Aragon \|\| 2018 Macan GTS</b> 2019 F90 Comp MBB\|Black (sold) 2018 F80 ZCP TB\|SS (sold) 2015 F30 335 AW\|CR (sold) 2015 F31 MG\|CR (sold) 2011 E90 JB\|Oyster (sold)
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03-22-2021, 08:48 PM	#10
The5rivers First Lieutenant 314 Rep 342 Posts Drives: 21 M5C, 22 X3MC, 24 X7 40i Join Date: Feb 2021 Location: Indianapolis iTrader: (0)	Terrible deal. MF is marked up and discount is minimal. Shop other dealers or save time and get a broker. They will get you 8% off plus base MF. Good luck! EDIT: read this thread to get a better idea of the deals people are getting. https://f90.bimmerpost.com/forums/sh...541178&page=20 Last edited by The5rivers; 03-22-2021 at 10:17 PM..
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03-22-2021, 10:14 PM	#11
Stan675LTS Enlisted Member 14 Rep 39 Posts Drives: BMW M6 GC 2017 comp pkg. Join Date: Dec 2015 Location: Philadelphia iTrader: (0)	The deal by the owner in this thread looks like the target. https://f90.bimmerpost.com/forums/sh....php?t=1749764
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03-23-2021, 02:25 AM	#12
dcwjd Private First Class 29 Rep 113 Posts Drives: 2021 m5 comp Join Date: Mar 2008 Location: Long Island , NY iTrader: (0)	I was able to get 10% off, base money factor and all incentives applied to my 2021 m5 comp. I used a broker from Leasehackr. I’m paying $1346 a month with NY tax on a 125k MSRP car.
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03-23-2021, 02:29 AM	#13
Greer Colonel 1893 Rep 2,512 Posts Drives: 2022 M5 Competition Join Date: Dec 2007 Location: Los Angeles iTrader: (0)	NO DEAL. Next. __________________ 2022 F90 M5 Competition & 2019 M2 Competition 2019 F90 M5 Competition 2017 F80 M3 Competition 2014 F10 M5 Competition 2003 E39 M5
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03-23-2021, 05:21 AM	#14
Rosco P Second Lieutenant 225 Rep 208 Posts Drives: 23 M3CX Join Date: Apr 2008 Location: San Antonio, TX iTrader: (0)	10.5% discount plus incentives and base mf on 2021 comp. Deals are out there...
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03-23-2021, 08:33 AM	#15
bruza Major 367 Rep 1,202 Posts Drives: '21 M5 & '06 Volvo S60 R Join Date: Jul 2011 Location: Georgia iTrader: (0)	TERRIBLE deal, like others said. Never put money down on a lease. Aim for 8% + off. __________________ 2021 M5 Competition Marina Bay Blue/ Individual Tartufo/ Individual Piano Black Trim. Took delivery 11/27/2020 2017 X5 ///M Silverstone/Mugello Red/ Carbon Fiber Trim Turned in 11/27/2020
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03-23-2021, 08:51 AM	#16
Crumbs First Lieutenant 192 Rep 306 Posts Drives: 2018 F85 X5M Mineral White Join Date: Jun 2012 Location: NYC iTrader: (0)	horrific.
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03-23-2021, 11:46 AM	#17
Maverik259 Major General 4140 Rep 7,160 Posts Drives: F90 M5 / F15 50i Join Date: Jun 2017 Location: Virginia iTrader: (1) Garage List 2020 BMW M5 [10.00] 2014 X5 50i [0.00]	dude get a broker....hands down the only option for leasing IMO. This is their whole job and you don't pay a dime to them until you pick the car and approve the numbers! Only down side is that the exact car may not be readily available but shouldn't be too hard to find. Just tell em what you want. I got my '20 for 12% off, 0 down, 10k miles with every option i wanted, for $1350 including wheel protect package. __________________ '07 Yamaha R1 (sold) '06 C55 AMG (sold) ‘?20 M5, MP Carbon Pro Spoiler, MP Carbon Diffuser, MP Black grille and gills, MP Carbon Mirrors, CF side sills, 789M w/ Ti studs, eventuri, Dinan X pipe '14 X5 50i (wife’s now)
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03-23-2021, 11:49 AM	#18
gblansten Brigadier General 1981 Rep 4,230 Posts Drives: 23 Tesla S Plaid Join Date: Sep 2007 Location: Thick ascending limb iTrader: (0)	That's brutally non-competitive. Sorry.
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