08-11-2022, 08:35 AM | #1 |
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Another "the dealer is trying to screw me" lease thread
I'm looking to buy (lease) a 2023 M550ix that is enroute to the dealer, and they sent me the "deal" yesterday for a lease. I'll break down the numbers below, but long story short, their price is $1354 and when I crunch it on leasehackr (using all defaults) I come up with $1066. That's a fairly significant difference.
My dealer loves to maximize their profit. I get that, especially these days when they are selling fewer cars but still have a stiff overhead to cover. And I can buy the car instead of leasing with little hardship... I just like the safety margin of a lease - which I know has pros and cons, I'm just sayin'... I have tier one credit, and so I should get the best MF. They know this - I am a repeat customer. There may be some paint protection plans built into their quote that they didn't break down for me. And wheel protection. And paid maintenance. And nitrogen. I don't know what residual or money factor they are using. I get a worse number when I use the BMW web site, so maybe I should shut up? 2023 M550ix MSRP 87,195 Net Price 82,208 Due at inception 2196 NC tax rate: 7.5% 10K miles/year 36 months no multiple MSD TYIA for comments and suggestions.
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08-11-2022, 10:57 AM | #3 | |
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08-11-2022, 02:34 PM | #4 |
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Wow.
After I wrote the post, I discovered that the military discount only applies if you do not use BMW financing, so I'll be better off getting more money off the top and just paying cash. Thanks for the feedback!
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08-14-2022, 01:23 PM | #6 |
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This is not correct. When you lease with BMWFS the incentive is available but reduced and the amount depends on where you are located. In the Western region it is $250 and in the other regions it is $500. When you finance with BMWFS it is also available.
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08-16-2022, 06:19 AM | #7 |
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Thank you for the correction.
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08-17-2022, 10:55 AM | #8 |
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I feel so blessed to lease an M5 for $1270 (with tax) (picked up Dec 31, 2020). Insane what these are going for at the moment.
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08-18-2022, 06:45 AM | #9 | |
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We didn't know how good we had it back then!
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08-22-2022, 10:13 PM | #10 | ||
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I think when my 2021 540 lease is up I'll most likely buy it out. Especially since I've only put on 7k mikes in 1 year and 8 months. |
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08-23-2022, 08:05 AM | #11 |
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I did think about it. About a year ago I also had my M4 which I drove so much more than the 540i, I did a lease swap and got out of it early. Because of the super deal that I had on it, the residual was pretty high and more than the car was worth at the time. And I got out of the lease with no fees, which was nice. And the guy that assumed the lease got a great deal and he was able to sell the car to his dealer at lease end for the residual, so he skipped out on the fees as well.
Of course, since then I sold the M4 and kind of regretted getting rid of the 540i, but then I got V8 fever and ... so here I am. If I had a nickel for all of the cars that I should have kept, and especially a nickel for all of the cars that I shouldn't have bought...
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08-23-2022, 10:28 AM | #12 | |
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08-23-2022, 12:24 PM | #13 | |
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The wonderful B58 I6 is really plenty of power for this car, I'm just a real fan of the "more power is always better" philosophy, despite the miserable resale of the BMW V8 cars.
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08-23-2022, 01:04 PM | #14 | |
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03-12-2023, 09:22 PM | #15 | |
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03-15-2023, 03:31 PM | #16 |
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We really had it good with lease deals before all this supply chain ruckus, no doubt about it. Don't have a detailed breakdown of all the numbers, but in 2019, I leased a loaded '20 M340i at ~$600/mo ($0 down, 3-years, 45k miles). Fast forward to 6 months ago, and I signed a close-to-base '22 M550i for an obscene ~$1.5k/month like a total idiot ($0 down, 3-years, 36k miles), which amazingly sounds less stupid than a mid-optioned '22 540i I was quoted for @ $1.4k/mo for the same lease terms. Not going to sugarcoat my buyer's remorse here: the M550i is a fantastic beast, but it ain't $1.5k/mo fantastic to me... really wished I'd been less impulsive. Heck, I would've happily rocked a 540i for ~$600/mo, which is what my loaded 2016 540i M Sport leased for way back in 2016...
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Last edited by Rocket455; 03-15-2023 at 03:38 PM.. |
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03-15-2023, 09:10 PM | #17 | |
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