[hksr]

Any Canadians on here with 36 or 48 month leases? How much are you paying? What were the residuals and rates?

[Jwong]

hi there, I am leasing mine. 48 months, 1.99% with a 47% residual.
Though this video is based on the US, I highly recommend watching it before negotiating.

Key points to takeaway:
- negotiate MSRP price (don't focus on monthly payment, look at total payment)
- target a 8-10% discount off MSRP
- put no more than 5% of the total vehicle price as a downpayment
- offer multiple security deposits to reduce leasing rates

Hope this helps.

[scotchy]

Originally Posted by hksr

Any Canadians on here with 36 or 48 month leases? How much are you paying? What were the residuals and rates?

What model are you looking at and where are you in Canada (can't see location on mobile)
FYI I wouldn't expect much more than 6% off msrp in Canada. I think the most I've heard of is maybe 6.5%

I've a 48month lease on an M50i. Dm me if you want details.

[Jwong]

Depending on incentives which change month to month, I believe getting a discount around 8%-9% is doable. (I did, proof attached). Including additional rate discount on my lease, the final payment below reflects a total of a 12% discount off the BMW.ca MSRP.

To be clear, I’m not saying anyone can get the same deal as I did, as I’m not even sure I could get the same deal myself at another time. Heck someone might get an even deal. Its because varying factors affect what a dealer / BMW HQ can and cannot do from month to month. Even from day to day.

I’ve done a lot of homework on this and narrowed down price to be impacted by main factors such as the following: (BMW SPECIFIC, non-exhaustive)

- do you have a quote from other dealers
- currently driving a competitors car (dealers have access to Non-advertised “conquest” coupons they can use to discount if you’re in a competitor’s vehicle)
- which month in the year you are purchasing In (dec and winter months are better times to buy as thy have more incentives available, as they are slow months)
- the clout the sales person you’re working with has with his/her Sales manager
- dumb luck (the sales manager or sales rep may be desperate to make quota or have other hidden motivations to close the deal with a lower margin than normal)
- in-stock vs custom build order (better chance of better deal with in-stock models. These cost the dealer money to hold and they often pay interest to keep those cars on the lot)
- new release Model vs older version of the model (The longer the model has been around, the better the discount)
-corporate incentives available in addition to dealer specific incentives
- your credit rating (affects lease rate and finance rate qualifications)

Obviously not exhaustive list, but based on research and asking professional car brokers like Ari from the Boston Automotive Consulting group, these factors above are some of the key reasons behind how good a deal you can get.

Hope this helps. I know how it feels to have paid more than you needed to. And don’t wish that on anyone.

Originally Posted by scotchy

What model are you looking at and where are you in Canada (can't see location on mobile)
FYI I wouldn't expect much more than 6% off msrp in Canada. I think the most I've heard of is maybe 6.5%

I've a 48month lease on an M50i. Dm me if you want details.

[mavjay]

Originally Posted by Jwong

Depending on incentives which change month to month, I believe getting a discount around 8%-9% is doable. (I did, proof attached). Including additional rate discount on my lease, the final payment below reflects a total of a 12% discount off the BMW.ca MSRP.

To be clear, I’m not saying anyone can get the same deal as I did, as I’m not even sure I could get the same deal myself at another time. Heck someone might get an even deal. Its because varying factors affect what a dealer / BMW HQ can and cannot do from month to month. Even from day to day.

I’ve done a lot of homework on this and narrowed down price to be impacted by main factors such as the following: (BMW SPECIFIC, non-exhaustive)

- do you have a quote from other dealers
- currently driving a competitors car (dealers have access to Non-advertised “conquest” coupons they can use to discount if you’re in a competitor’s vehicle)
- which month in the year you are purchasing In (dec and winter months are better times to buy as thy have more incentives available, as they are slow months)
- the clout the sales person you’re working with has with his/her Sales manager
- dumb luck (the sales manager or sales rep may be desperate to make quota or have other hidden motivations to close the deal with a lower margin than normal)
- in-stock vs custom build order (better chance of better deal with in-stock models. These cost the dealer money to hold and they often pay interest to keep those cars on the lot)
- new release Model vs older version of the model (The longer the model has been around, the better the discount)
-corporate incentives available in addition to dealer specific incentives
- your credit rating (affects lease rate and finance rate qualifications)

Obviously not exhaustive list, but based on research and asking professional car brokers like Ari from the Boston Automotive Consulting group, these factors above are some of the key reasons behind how good a deal you can get.

Hope this helps. I know how it feels to have paid more than you needed to. And don’t wish that on anyone.

So was yours an in stock unit? Year end clear out/time of year you bought yours? What packages? What province?

[hksr]

Originally Posted by Jwong

Depending on incentives which change month to month, I believe getting a discount around 8%-9% is doable. (I did, proof attached). Including additional rate discount on my lease, the final payment below reflects a total of a 12% discount off the BMW.ca MSRP.

To be clear, I’m not saying anyone can get the same deal as I did, as I’m not even sure I could get the same deal myself at another time. Heck someone might get an even deal. Its because varying factors affect what a dealer / BMW HQ can and cannot do from month to month. Even from day to day.

I’ve done a lot of homework on this and narrowed down price to be impacted by main factors such as the following: (BMW SPECIFIC, non-exhaustive)

- do you have a quote from other dealers
- currently driving a competitors car (dealers have access to Non-advertised “conquest” coupons they can use to discount if you’re in a competitor’s vehicle)
- which month in the year you are purchasing In (dec and winter months are better times to buy as thy have more incentives available, as they are slow months)
- the clout the sales person you’re working with has with his/her Sales manager
- dumb luck (the sales manager or sales rep may be desperate to make quota or have other hidden motivations to close the deal with a lower margin than normal)
- in-stock vs custom build order (better chance of better deal with in-stock models. These cost the dealer money to hold and they often pay interest to keep those cars on the lot)
- new release Model vs older version of the model (The longer the model has been around, the better the discount)
-corporate incentives available in addition to dealer specific incentives
- your credit rating (affects lease rate and finance rate qualifications)

Obviously not exhaustive list, but based on research and asking professional car brokers like Ari from the Boston Automotive Consulting group, these factors above are some of the key reasons behind how good a deal you can get.

Hope this helps. I know how it feels to have paid more than you needed to. And don’t wish that on anyone.

Holy crap, that's a good deal. Most I can ever muster seems to be 4-5% off MSRP...

[bubbahead]

I'm not sure what the rules are now for joining BMW Car Club of Canada and getting car discount, but when I got my car last year, I was a member and got additional 2% off MSRP. This is on top of whatever you have negotiated with your sales rep.
In total, I got 8.5% off MSRP. I ordered my car and got it end of April 2019

[scotchy]

Originally Posted by Jwong

Depending on incentives which change month to month, I believe getting a discount around 8%-9% is doable. (I did, proof attached). Including additional rate discount on my lease, the final payment below reflects a total of a 12% discount off the BMW.ca MSRP.

To be clear, I’m not saying anyone can get the same deal as I did, as I’m not even sure I could get the same deal myself at another time. Heck someone might get an even deal. Its because varying factors affect what a dealer / BMW HQ can and cannot do from month to month. Even from day to day.

I’ve done a lot of homework on this and narrowed down price to be impacted by main factors such as the following: (BMW SPECIFIC, non-exhaustive)

- do you have a quote from other dealers
- currently driving a competitors car (dealers have access to Non-advertised “conquest” coupons they can use to discount if you’re in a competitor’s vehicle)
- which month in the year you are purchasing In (dec and winter months are better times to buy as thy have more incentives available, as they are slow months)
- the clout the sales person you’re working with has with his/her Sales manager
- dumb luck (the sales manager or sales rep may be desperate to make quota or have other hidden motivations to close the deal with a lower margin than normal)
- in-stock vs custom build order (better chance of better deal with in-stock models. These cost the dealer money to hold and they often pay interest to keep those cars on the lot)
- new release Model vs older version of the model (The longer the model has been around, the better the discount)
-corporate incentives available in addition to dealer specific incentives
- your credit rating (affects lease rate and finance rate qualifications)

Obviously not exhaustive list, but based on research and asking professional car brokers like Ari from the Boston Automotive Consulting group, these factors above are some of the key reasons behind how good a deal you can get.

Hope this helps. I know how it feels to have paid more than you needed to. And don’t wish that on anyone.

Weird, they entered your options as a negative number? Maybe they screwed up, lol. If we're talking previous year models then sure, higher discounts are totally doable. Was your deal a previous year model? I was offered more than 13% off a 2019 back in January.

[hksr]

Originally Posted by bubbahead

I'm not sure what the rules are now for joining BMW Car Club of Canada and getting car discount, but when I got my car last year, I was a member and got additional 2% off MSRP. This is on top of whatever you have negotiated with your sales rep.
In total, I got 8.5% off MSRP. I ordered my car and got it end of April 2019

Where do I sign up for the BMW Car Club of Canada???

[bubbahead]

Originally Posted by hksr

Where do I sign up for the BMW Car Club of Canada???

http://trilliumbmwclub.ca/

The rules have changed since I got my discount. I planned ahead and purchased a 1 year membership for $60cdn knowing my lease would be up the following year. I had to be a member for 1 year in order to get the 2% discount. Now I believe, if you want immediate discount, you would have to purchase 3 year plan. Or, you can but a 1-year if you plan on buying the following year. In the end, you will net about $1500-$1800savings. But look around the website for the information. Rules changed last year. I believe the discount is now in the form of a mailed rebate after purchase as opposed to 2% discount at signing.

[hksr]

Originally Posted by bubbahead

http://trilliumbmwclub.ca/

The rules have changed since I got my discount. I planned ahead and purchased a 1 year membership for $60cdn knowing my lease would be up the following year. I had to be a member for 1 year in order to get the 2% discount. Now I believe, if you want immediate discount, you would have to purchase 3 year plan. Or, you can but a 1-year if you plan on buying the following year. In the end, you will net about $1500-$1800savings. But look around the website for the information. Rules changed last year.

Oh bummer, if I knew about this I would have joined last year. I knew I was gonna replace my X5 this year Oh well, I guess I can do it for my next bimmer.

[bubbahead]

Originally Posted by hksr

Oh bummer, if I knew about this I would have joined last year. I knew I was gonna replace my X5 this year Oh well, I guess I can do it for my next bimmer.

Sign up for 3 year membership and you will qualify same day. I think thats how it works for the 3-year membership. No waiting for 1 year.

[hksr]

Originally Posted by bubbahead

Sign up for 3 year membership and you will qualify same day. I think thats how it works for the 3-year membership. No waiting for 1 year.

Is that only for the Trillium chapter? I'm in BC.

[bubbahead]

Originally Posted by hksr

Is that only for the Trillium chapter? I'm in BC.

BC has their own..

https://www.bmwccbc.org/

http://bmwclub.ca/benefits/discount/

[Jwong]

The quote above was for a 2020 XDrive 40i custom order. There are 5 reasons out of the list I provided that helped me secure this deal specifically.

1. I shopped around and used dealer offers against each other to get gradually better prices. In my case 4 quotes from 4 dealers, same specs. After I got the target 8% off, I went back to a fifth dealer (my preferred choice) and asked them to beat it.

2. Timing part 1- end of month purchase allowed the dealer to meet their sales quota that month. Dealers get extra perks and incentives to hit quota...so even if they make less on a deal (mine), Sales managers can more than make up for it By meeting or exceeding that months quota. Moral of the story timing matters. End of month, or end of season is a big deal.

3. Timing-part 2- this is a great time to buy. Covid-19 hurt business bad. Dealers need sales, so it’s to the buyers Advantage to shop around as dealers get aggressive for your business. All you need is one aggressive offer to leverage against other offers. Dealers also have access to HQ incentives/rebates to help them during tough times, and some of those aren’t advertised. So the key here is to shop around.

4. I got a preferred lease rate because I’m a return customer with decent credit. That saves hundreds off the deal.

5. Got lucky. All the HQ incentives, timing, and quotas combined with leveraging offers against themselves all worked out to my favour. Like I said, not saying I could do it again, as offers change month to month and day to day. For highest probability of getting the best deal, please consider the list I provided.

I hope this helps all of you get a stellar deal for you.

Originally Posted by mavjay

So was yours an in stock unit? Year end clear out/time of year you bought yours? What packages? What province?

[mavjay]

Originally Posted by Jwong

The quote above was for a 2020 XDrive 40i custom order. There are 5 reasons out of the list I provided that helped me secure this deal specifically.

1. I shopped around and used dealer offers against each other to get gradually better prices. In my case 4 quotes from 4 dealers, same specs. After I got the target 8% off, I went back to a fifth dealer (my preferred choice) and asked them to beat it.

2. Timing part 1- end of month purchase allowed the dealer to meet their sales quota that month. Dealers get extra perks and incentives to hit quota...so even if they make less on a deal (mine), Sales managers can more than make up for it By meeting or exceeding that months quota. Moral of the story timing matters. End of month, or end of season is a big deal.

3. Timing-part 2- this is a great time to buy. Covid-19 hurt business bad. Dealers need sales, so it’s to the buyers Advantage to shop around as dealers get aggressive for your business. All you need is one aggressive offer to leverage against other offers. Dealers also have access to HQ incentives/rebates to help them during tough times, and some of those aren’t advertised. So the key here is to shop around.

4. I got a preferred lease rate because I’m a return customer with decent credit. That saves hundreds off the deal.

5. Got lucky. All the HQ incentives, timing, and quotas combined with leveraging offers against themselves all worked out to my favour. Like I said, not saying I could do it again, as offers change month to month and day to day. For highest probability of getting the best deal, please consider the list I provided.

I hope this helps all of you get a stellar deal for you.

Thanks! It was just curiosity as someone else mentioned about the options being a negative as it's usually all shown in adjustments. Did that price include any lease return or warranty packages?

But congrats! You did really well. I factory ordered mine back in December and specifically asked for a late March / early April delivery date to line up with my lease return from another brand. Got 7% off MSRP and an addition delivery credit when I got it. So it worked out to be about 8% off MSRP. But you got a killer deal. Looks like they gave you the dealer hold back and maybe some more as you mentioned timing.

[Jwong]

No lease return, and no warranty purchased. I think there's so many deals out there. Luck of the draw more than anything else. You did well too! 8% is a good deal for a bimmer.

Originally Posted by mavjay

Thanks! It was just curiosity as someone else mentioned about the options being a negative as it's usually all shown in adjustments. Did that price include any lease return or warranty packages?

But congrats! You did really well. I factory ordered mine back in December and specifically asked for a late March / early April delivery date to line up with my lease return from another brand. Got 7% off MSRP and an addition delivery credit when I got it. So it worked out to be about 8% off MSRP. But you got a killer deal. Looks like they gave you the dealer hold back and maybe some more as you mentioned timing.