First BMW: How does this lease sound?

gullwinggt · 09-24-2016, 05:08 PM

Hi Guys, Looking to buy/lease my first BMW and today had a chance to visit the dealership to test drive the car and also got the lease offers for the car.

2016 340i
MSRP : 54,150, Dealer offer/BMW offer : 7000, so final price on offer was 47,064.
I did not do any negotiation today and the monthly lease came to $564 with 0 down.

What are your thoughts? Also when I asked the sales guy about ordering a 340i with my specs which had an MSRP of 53500, he did a 95% value from the MSRP and quoted a lease payment upward of 700$. Does this make sense?

I wanted a manual and since the car they had was an auto I persuaded him to do the Math for me and he came up with above number.

I am already blown away by 340i

mbanks21 · 09-24-2016, 05:34 PM

Year/miles, also what's the residual and MF?

DG20 · 09-24-2016, 06:36 PM

Quote:

Originally Posted by gullwinggt

Hi Guys, Looking to buy/lease my first BMW and today had a chance to visit the dealership to test drive the car and also got the lease offers for the car.

2016 340i
MSRP : 54,150, Dealer offer/BMW offer : 7000, so final price on offer was 47,064.
I did not do any negotiation today and the monthly lease came to $564 with 0 down.

What are your thoughts? Also when I asked the sales guy about ordering a 340i with my specs which had an MSRP of 53500, he did a 95% value from the MSRP and quoted a lease payment upward of 700$. Does this make sense?

I wanted a manual and since the car they had was an auto I persuaded him to do the Math for me and he came up with above number.

I am already blown away by 340i

What dealer?

gullwinggt · 09-24-2016, 06:49 PM

Quote:

Originally Posted by mbanks21

Year/miles, also what's the residual and MF?

3 year/10,000 Miles , when I asked about residual he was like 'you shouldn't try to buy this after lease end' kind of response and I forgot to ask about the MF.

Will get those figures on Monday. Is there a value or range you have in mind that should be considered as good one?

gullwinggt · 09-24-2016, 06:51 PM

Quote:

Originally Posted by EB F32

What dealer?

Dealer in Fairfax, VA. You planning to get this

? They do have about 6 340i with similar incentives.

StockLOL · 09-24-2016, 08:05 PM

That's a really good deal if it is brand new and includes tax

gullwinggt · 09-24-2016, 08:38 PM

Quote:

Originally Posted by StockLOL

That's a really good deal if it is brand new and includes tax

Yup it's brand new.

f30m · 09-24-2016, 08:48 PM

That's a pretty good deal. Whenever a dealer gives me a number, even if I'm somewhat happy with it, I always try to offer them less anyway. If he gave you that number without negotiation, then I would go back with a figure $20 less or another number in that area.

When I was negotiating my 340, my dealer started out in the mid-high $500 range with $5000 at signing (including down payment, 1st month, fees, etc) with a $57000 sticker and 12k miles per year. I ended up getting it down to $470/ month with 5000 down, but chose to do 0 down in the end so I ended up with a payment of $612/ month.

shawntech · 09-24-2016, 09:13 PM

I got 11% off 59975, 7 msds, 499 a mo... work harder.

gullwinggt · 09-24-2016, 09:37 PM

Quote:

Originally Posted by f30m

That's a pretty good deal. Whenever a dealer gives me a number, even if I'm somewhat happy with it, I always try to offer them less anyway. If he gave you that number without negotiation, then I would go back with a figure $20 less or another number in that area.

Quote:

Originally Posted by ls3c6

I got 11% off 59975, 7 msds, 499 a mo... work harder.

Thank you guys, lets see what I can negotiate on Monday.

Deleted853 · 09-25-2016, 12:28 AM

Quote:

Originally Posted by gullwinggt

Hi Guys, Looking to buy/lease my first BMW and today had a chance to visit the dealership to test drive the car and also got the lease offers for the car.

2016 340i
MSRP : 54,150, Dealer offer/BMW offer : 7000, so final price on offer was 47,064.
I did not do any negotiation today and the monthly lease came to $564 with 0 down.

What are your thoughts? Also when I asked the sales guy about ordering a 340i with my specs which had an MSRP of 53500, he did a 95% value from the MSRP and quoted a lease payment upward of 700$. Does this make sense?

I wanted a manual and since the car they had was an auto I persuaded him to do the Math for me and he came up with above number.

I am already blown away by 340i

There are better deals out there on 16's..if you ordered a17 with same MSRP and a manual, and it arrived before new years, 564 would probably be an average deal.

eluded · 09-25-2016, 02:00 AM

#SaveTheManuals

ErkanTR16 · 09-25-2016, 03:21 AM

Quote:

Originally Posted by gullwinggt

Hi Guys, Looking to buy/lease my first BMW and today had a chance to visit the dealership to test drive the car and also got the lease offers for the car.

2016 340i
MSRP : 54,150, Dealer offer/BMW offer : 7000, so final price on offer was 47,064.
I did not do any negotiation today and the monthly lease came to $564 with 0 down.

What are your thoughts? Also when I asked the sales guy about ordering a 340i with my specs which had an MSRP of 53500, he did a 95% value from the MSRP and quoted a lease payment upward of 700$. Does this make sense?

I wanted a manual and since the car they had was an auto I persuaded him to do the Math for me and he came up with above number.

I am already blown away by 340i

Go to BMW of Alexandria and ask for Bulent Inal.

He is a close friend of mine and bought my first BMW from him. Wouldn't hurt to give it a try maybe he can give you a better offer.

Bulent Inal
BMW of Alexandria
499 S Pickett Street
Alexandria, VA 22304
Cell (703) 969-3977
Main (703) 684-8500
binal@bmwofalexandria.com

Mention my name. Erkan Sen

gullwinggt · 09-25-2016, 11:16 AM

Quote:

Originally Posted by Mwm1166

There are better deals out there on 16's..if you ordered a17 with same MSRP and a manual, and it arrived before new years, 564 would probably be an average deal.

Great, probably will let this one pass. Since it is not exactly what I want and I am already regretting not having a manual in my Mazda 6. I intend to keep the BMW that I am going to get for at least 6 years, so better wait and spec it the way I want.

gullwinggt · 09-25-2016, 11:19 AM

Quote:

Originally Posted by Erkan_340i

Go to BMW of Alexandria and ask for Bulent Inal.

He is a close friend of mine and bought my first BMW from him. Wouldn't hurt to give it a try maybe he can give you a better offer.

Erkan Sen

Thank you Erkan. I actually had spoken to them, but not to this person so will certainly ask for him and give your name when I go to that dealership.

ErkanTR16 · 09-25-2016, 12:09 PM

Quote:

Originally Posted by gullwinggt

Quote:

Originally Posted by Erkan_340i

Go to BMW of Alexandria and ask for Bulent Inal.

He is a close friend of mine and bought my first BMW from him. Wouldn't hurt to give it a try maybe he can give you a better offer.

Erkan Sen

Thank you Erkan. I actually had spoken to them, but not to this person so will certainly ask for him and give your name when I go to that dealership.

You're Welcome.

bavarianboar · 09-25-2016, 11:15 PM

Quote:

Originally Posted by gullwinggt

Hi Guys, Looking to buy/lease my first BMW and today had a chance to visit the dealership to test drive the car and also got the lease offers for the car.

2016 340i
MSRP : 54,150, Dealer offer/BMW offer : 7000, so final price on offer was 47,064.
I did not do any negotiation today and the monthly lease came to $564 with 0 down.

What are your thoughts? Also when I asked the sales guy about ordering a 340i with my specs which had an MSRP of 53500, he did a 95% value from the MSRP and quoted a lease payment upward of 700$. Does this make sense?

I wanted a manual and since the car they had was an auto I persuaded him to do the Math for me and he came up with above number.

I am already blown away by 340i

Seems really high monthly given the residual on the car is close to 66% for 10k miles.

Understand the "lease math" before you accept or think of considering anything seriously

gullwinggt · 09-27-2016, 06:33 PM

Quote:

Originally Posted by bavarianboar

Seems really high monthly given the residual on the car is close to 66% for 10k miles.

Understand the "lease math" before you accept or think of considering anything seriously

You are right, newbie mistake. Have to read through the thread on leasing again.
Thanks.

XKxRome0ox · 09-27-2016, 06:39 PM

Quote:

Originally Posted by gullwinggt

I wanted a manual and since the car they had was an auto I persuaded him to do the Math for me and he came up with above number.

wanted a manual ... but settling for auto?

nothing wrong with auto
but it's just not the same

bavarianboar · 09-27-2016, 07:12 PM

Quote:

Originally Posted by gullwinggt

Quote:

Originally Posted by bavarianboar

Seems really high monthly given the residual on the car is close to 66% for 10k miles.

Understand the "lease math" before you accept or think of considering anything seriously

You are right, newbie mistake. Have to read through the thread on leasing again.
Thanks.

Raw math using LeaseHackr.com calculator.

Plugged in the numbers you mentioned and 66% residual with .00136 MF. Check these two before you trust my numbers. I remember these from last month somehow for 2016 340i.

Base payment 454
Including tax at 9% : $495 per month.
Acquisition fee rolled in

Acquisition of 925 upfront
Base payment 427
Including tax at 9% ; $466

Use leasehackr site very useful. I have come to within a $1 when comparing numbers with my CA.

Note: tax is only on the lease part of the money. In some states it is on full price. Something to check. Don't know your state, I did for California and 9% sales tax

gullwinggt · 09-30-2016, 08:01 PM

Quote:

Originally Posted by bavarianboar

Raw math using LeaseHackr.com calculator.

Plugged in the numbers you mentioned and 66% residual with .00136 MF. Check these two before you trust my numbers. I remember these from last month somehow for 2016 340i.

Base payment 454
Including tax at 9% : $495 per month.
Acquisition fee rolled in

Acquisition of 925 upfront
Base payment 427
Including tax at 9% ; $466

Use leasehackr site very useful. I have come to within a $1 when comparing numbers with my CA.

Note: tax is only on the lease part of the money. In some states it is on full price. Something to check. Don't know your state, I did for California and 9% sales tax

Thanks a lot for your math. That site is very helpful

09-24-2016, 05:08 PM	#1
gullwinggt New Member 3 Rep 24 Posts Drives: Mustang GT Join Date: Sep 2016 Location: PA iTrader: (0)	First BMW: How does this lease sound? Hi Guys, Looking to buy/lease my first BMW and today had a chance to visit the dealership to test drive the car and also got the lease offers for the car. 2016 340i MSRP : 54,150, Dealer offer/BMW offer : 7000, so final price on offer was 47,064. I did not do any negotiation today and the monthly lease came to $564 with 0 down. What are your thoughts? Also when I asked the sales guy about ordering a 340i with my specs which had an MSRP of 53500, he did a 95% value from the MSRP and quoted a lease payment upward of 700$. Does this make sense? I wanted a manual and since the car they had was an auto I persuaded him to do the Math for me and he came up with above number. I am already blown away by 340i
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09-24-2016, 05:34 PM	#2
mbanks21 Colonel 1268 Rep 2,957 Posts Drives: 2015 335i MSport Join Date: Aug 2013 Location: High Bridge, NJ iTrader: (8)	Year/miles, also what's the residual and MF?
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09-24-2016, 08:05 PM	#6
StockLOL Private First Class 51 Rep 155 Posts Drives: 2018 340i MPPSK Join Date: Nov 2015 Location: Newport Beach, CA iTrader: (0)	That's a really good deal if it is brand new and includes tax
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09-24-2016, 08:48 PM	#8
f30m Private First Class 64 Rep 181 Posts Drives: 2008 E90 M3 Join Date: Sep 2016 Location: Rhode Island-New York iTrader: (0)	That's a pretty good deal. Whenever a dealer gives me a number, even if I'm somewhat happy with it, I always try to offer them less anyway. If he gave you that number without negotiation, then I would go back with a figure $20 less or another number in that area. When I was negotiating my 340, my dealer started out in the mid-high $500 range with $5000 at signing (including down payment, 1st month, fees, etc) with a $57000 sticker and 12k miles per year. I ended up getting it down to $470/ month with 5000 down, but chose to do 0 down in the end so I ended up with a payment of $612/ month. __________________ 2008 E90 M3 - Sparkling Graphite Metallic / DCT / slicktop / single hump
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09-24-2016, 09:13 PM	#9
shawntech The Wolf 247 Rep 987 Posts Drives: stuff Join Date: Oct 2013 Location: Midwest iTrader: (0) Garage List [0.00] 2019 BMW M850i conv ... [0.00]	I got 11% off 59975, 7 msds, 499 a mo... work harder.
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09-25-2016, 02:00 AM	#12
eluded 2JZ-GTE 3045 Rep 3,996 Posts Drives: 340 6MT, 50e, others Join Date: Nov 2015 Location: Sofia iTrader: (0)	#SaveTheManuals __________________ A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.
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