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In general, have you found that dealers are more willing to drop the purchase price of a car for a purchase vs. a lease? The reason I am asking is that we have never leased before but are thinking about jumping in on a BMW 340i XDrive. We did not intend to have a leasing discussion, but the dealer was really pushing that.
Since neither of us were considering a lease, it caught us by surprise and was a little hard to follow. We have a couple of different sets of worksheets from the dealer, and the one detailing the purchase options the MSRP is $57,315 and the purchase price is $51,150. However, the lease worksheet has very little usable information, so we'd like to assume the $51,150 and start from there...
Would this be an ok offer to make in your opinion? Ie. Do you think we'd get laughed out of the place? We've been trying to stay under that $125 per 10K rule of thumb.
MSRP $57,315
Sale price $51,150
Acquisition Fee $925
Fees $393
$4500 down rolled into the monthly payments
10K Miles/Year
Payments: $600 per month
We live in Illinois. Credit 700+.
Where in Illinois do you live? Lease taxes vary based on your location.
For 36 months, 10,000 miles per year, the relevant lease numbers are .00134 MF and 62%.
We do not recommend making a large down payment on a lease - that money would be lost if the car is stolen or totaled. Suggest you pay only the first payment and DMV costs up front, and roll everything else into the monthly payment.
Ask the dealer what the adjusted cap cost is, with the acquisition fee and taxes added to the selling price. This will tell us if the dealer is marking up the MF for extra profit.
You don't want to negotiate the payment, but rather the selling price.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
And typically how much of a discount off the MSRP should I be aiming for?
7% off MSRP is a good price.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
2017: .00134 MF and 62% residual (68% for 24/10)
2016: .00134 MF and 60% residual (66% for 24/10). $1500 option allowance
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Can someone confirm if this is a good deal? The money factor and residual seems to align with what the mods have been indicating for January, 2017, but the net cap cost seems a little high to me.
Market Value: 36,560
Discount Savings: -1,382
Vehicle Selling Price: 35,178
Doc prep fee: 389
License/Title: 612
Tire/VTR fee: 21.75
Acquisition Fee: 925
Tax on collected items: 86.66
Capitalized Initial Fees: 500.99
Total Cap: 37,713.40
Rebate: -1,500
Net Cap: 36,213.40
Base Payment: 464.74
Monthly Tax: 36.25
36 mo payment: 500.99
Capitalized Initial Fees: -500.99
1st payment: 500.99
Due on delivery: 0.00
Rate: .00134
Miles: 12k
Residual: 61%
Thanks in advance.
Every $1000 off the selling price reduces your payment about $28/mo, before tax.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
I got the following quote for a 2017 BMW 330 XDrive with the following options: Mineral Grey Metallic, Navigation, Premium Package, Driver Assistance Package, Cold Weather Package. I'm looking for help on where I should negotiate this further as this is my first time looking to lease instead of purchase. This is in MN.
MSRP: $51,415
Doc fee: $75
Acquisition Fee: $925
Cap Fees: $646.75
Cap Taxes: $1,382.03
Net cap Cost: $49,393.78
Residual %/$: .62
Residual Amount: $31,868
Mileage: 10,000
Term: 36
Rate: .00114
Thank you
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
How much of a discount are you getting from MSRP? We suggest you target 7%.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Dealers are getting smarter about base MF vs. sticker discount. You can get one or the other, but not always both.
Try multiple dealers - you might find one who is willing to play ball.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Residual: $31,017
Money Down: $979
Did they give you a dollar residual amount or money factor?
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The Residual amount is $31,017.00
I have asked for the MF but they haven't told me yet. My calculations so far is hovering 0.00162
That's a really small residual reduction for 6700 existing miles.. Only about $700 less than a new one.
Maybe the CPO thing gives it a bump.
The selling price looks pretty good, too, considering the small residual reduction.
You are pretty close on the money factor, I think.. That, or the residual turned out be a little different than what they quoted.
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http://www.stevenscreekbmw.com/specials/new.htm
Would this be considered a good deal? No clue of how to negotiate a good deal in terms of leasing cars.
You want to negotiate the selling price, just like you would if you were buying. And, make sure the MF isn't marked up - the base rate is .00134 - dealer can inflate to .00174 for extra profit.
https://www.edmunds.com/car-leasing/
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Would it be possible for dealerships to do 0 down for BMW? Would they just transfer that money into monthly payments? Like you said instead of 199$ per month with 4995$ down. Now it would be 0 down 339$ per month?
They have a 2016 BMW 328i MSRP $48670 for 199$ per month with 4995$ down for 24 months. And a 2017 330i MSRP $41490 for 299$ per month with 4995$ down for 36 months.
Why would a higher MSRP car be cheaper to lease than the lower one? Is it because of the lease term? Or is it because the year of the model?
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Also, $4995 might just be the CAP cost reduction portion of the upfront money. You may have other charges in addition.
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Add 1% for 10K/yr.
Residual on the 4-series is 1% lower.
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$3000 lease credit
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
2016 328i 10k miles/36mo with and without technology package
2017 330i 10k/36 mo with and without tech package
is there $2000 cash back on 2016s?
thanks
2016 discussion is here:
https://forums.edmunds.com/discussion/36225/bmw/3-series/2016-bmw-3-series-lease-questions#latest
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MSRP: $61,895
Residual: 61% (36m/12k)
Base MF: 0.00154
Net of 7 MSDs: 0.00105
Security Deposit: $5,250
Selling Price: $57,363
Tax Rate: 7%
Fees: $1,429
Title/Doc $349
Reg: $155
Lease Acq: $925
Net Cap Cost: $59,292 (Rolling in Fees)
Payment $749.13
Only put down security deposit + 1st payment
Thanks!
Why is the CAP cost $1929 more than the sale price?
What is your tax rate?
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$1,429 is the indeed the fees broken down below it
Selling Price should be $57,863 - Cap Cost adding in $1,429 in these fees
Thanks!
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Add 1% for 10K
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Also, what is the RV and MF for 36 months / 10K miles per year?