2021 M340i lease deal advice

KAltshulerKAltshuler Miami, FLMember Posts: 2
edited March 11 in BMW
Hi All,

New to the forum. I'm looking into leasing a 2021 BMW M340i in the South Florida area and would really appreciate advice on negotiating the lease quote down further. Ideally, I'd like to be right at or under $600 monthly with $0 down -- is that possible at this MSRP? If so, any tips on how to achieve that would be fantastic.

Here are the details of their current offer (my wife and I will be co-applicants -- with 785 and 771 credit ratings):

36 month / 10,000 miles annually
MSRP: $60,645
Discount: -$6,065 (10% discount)
Rebate: -$2,000 (loyalty- stepdad and mom leased thru this dealership)
Sale price: $52,580.00
Money factor: .00126
Residual value: $35,174.10 (58%)
Fees:
- Document Prep Fee: $989
- License/Title: $450
- Tag and Title: $314
- Tire/Battery: $6
- Sales/Use Tax (FL): $3,403.34
Total: $59,742.34

Payment Due at Signing
$746.43 $0

$700.27 $1,500.00

$655.62 $3,000.00

$596.09 $5,000.00


Thanks!

Comments

  • MichaellMichaell ColoradoModerator Posts: 186,849

    Hi All,

    New to the forum. I'm looking into leasing a 2021 BMW M340i in the South Florida area and would really appreciate advice on negotiating the lease quote down further. Ideally, I'd like to be right at or under $600 monthly with $0 down -- is that possible at this MSRP? If so, any tips on how to achieve that would be fantastic.

    Here are the details of their current offer (my wife and I will be co-applicants -- with 785 and 771 credit ratings):

    36 month / 10,000 miles annually
    MSRP: $60,645
    Discount: -$6,065 (10% discount)
    Rebate: -$2,000 (loyalty- stepdad and mom leased thru this dealership)
    Sale price: $52,580.00
    Money factor: .00126
    Residual value: $35,174.10 (58%)
    Fees:
    - Document Prep Fee: $989
    - License/Title: $450
    - Tag and Title: $314
    - Tire/Battery: $6
    - Sales/Use Tax (FL): $3,403.34
    Total: $59,742.34

    Payment Due at Signing
    $746.43 $0

    $700.27 $1,500.00

    $655.62 $3,000.00

    $596.09 $5,000.00


    Thanks!

    The prices you've given are for a purchase, not a lease - FL taxes the monthly payment, not the entire selling amount.

    And, there is no reference to the $925 bank fee that is mandatory with every lease.

    The MF used is also the max allowed by the dealer - the base rate is .00086.

    I'd say that is a good discount from sticker, but the $1000 doc fee (!) claws some of that back.

    Ask them for a screen shot of their lease worksheet.

    Doubtful you'll see $600/mo or under on this particular vehicle.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • KAltshulerKAltshuler Miami, FLMember Posts: 2
    Hi @Michaell - thanks for the reply!

    I attached the lease worksheet. It doesn't mention the $925 bank fee.

    On the MF rate, should I expect to get close to .00086 with our credit scores (785 and 771) even with no MSD's?

    Yeah, the doc fee is crazy, hopefully, they'll clear that and perhaps go another 1% or 2% down on the discount.

    I figured... I'd like to get as close as possible or perhaps I'll need to go for a slighly lower spec'd M340i.
  • MichaellMichaell ColoradoModerator Posts: 186,849

    Hi @Michaell - thanks for the reply!

    I attached the lease worksheet. It doesn't mention the $925 bank fee.

    On the MF rate, should I expect to get close to .00086 with our credit scores (785 and 771) even with no MSD's?

    Yeah, the doc fee is crazy, hopefully, they'll clear that and perhaps go another 1% or 2% down on the discount.

    I figured... I'd like to get as close as possible or perhaps I'll need to go for a slighly lower spec'd M340i.

    Yeah, that document still doesn't provide all the details.

    Keep asking for supporting documentation, with all the numbers.

    You should insist on .00086 - nothing higher, with top tier credit.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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