[lyjw88]

This is my first time thinking of leasing a car and I would appreciate some help from you guys.

So I will definitely negotiate the price of the car first then what other numbers can I negotiate with the dealer?

Thanks in advance!

[jd_perspective]

When are you looking? Honestly I've never gotten better deals that by using a broker. I have 2 in the NY/Tri-state area that deal all over the country. PM me if you want their info. They do leasing or buying.

Otherwise, yes you can negotiate the price of the car but I think an easier tactic is to try and get 1% of the msrp plus tax. So $50K car, $500/mo plus tax. Better would be .09%. This is really dealing on the payment, not the price of the car.

Try and do $0 down other than 1st mo payment, plus maybe DMV fees. This protects you if you drive off the lot and get hit by a bus... you'd lose your down payment because the car's value is less.

So negotiate payment and terms (usually 36 mo is the best rate - maybe 39)
Keep an eye on "money factor" which is essentially APR, right now base money factor is .00152 (multiply that by 2400 to find out your apr) some dealers mark this up and hide it!

Know what rebates you are eligible for, some don't apply to leasing or if you order vs dealer inventory.

Seriously - I'd go with a broker. PM me...

[Mauricehenry]

What’s the 2400 for? Is that the taxes and fees?

[IK6SPEED]

Originally Posted by lyjw88

This is my first time thinking of leasing a car and I would appreciate some help from you guys.

So I will definitely negotiate the price of the car first then what other numbers can I negotiate with the dealer?

Thanks in advance!

Build a car with the options.

As you are in Boston, call and get the email for the New Car Manager of 5 or more Dealers within 50 miles. Send them a copy of build/options.

Explain what you are looking to do (Lease or Buy/Months/Miles/Downpayment/Approx Fico Score etc).

Doesn’t sound like you have a trade in which makes this very straightforward.

Tell them no time or desire to haggle. Send best price and lowest monthly and out the door gets the deal.

Be man of your word. Don’t try and play one against the other when you get bids and follow through.

[kern417]

You 2 main things that you can negotiate are the sales price and the interest rate (money factor). Negotiating the money factor is harder now that the base rate is not public info, but you can always ask for a lower rate.

Also you can negotiate the price of warranties that you want to include. So if they says it's $1000 for a wheel and tire package, you can tell them that you'd be interested if it's $500 and try to negotiate from there.

I recommend reaching out to GOLFFRR and Steve Thomas BMW. They gave me the best price without any haggling and I was talking to dealers within a 200 mile radius from me. They can have the car delivered to you too so no need to drive to Cali.

The problem is that many other dealers will automatically ask what deal you got and offer to match it if you don't go with them, but I wanted to give my business to the one that worked with me up front. I agree that you shouldn't try to put dealers against each other. It screws everybody over.

[IK6SPEED]

Originally Posted by kern417

You 2 main things that you can negotiate are the sales price and the interest rate (money factor). Negotiating the money factor is harder now that the base rate is not public info, but you can always ask for a lower rate.

Also you can negotiate the price of warranties that you want to include. So if they says it's $1000 for a wheel and tire package, you can tell them that you'd be interested if it's $500 and try to negotiate from there.

I recommend reaching out to GOLFFRR and Steve Thomas BMW. They gave me the best price without any haggling and I was talking to dealers within a 200 mile radius from me. They can have the car delivered to you too so no need to drive to Cali.

The problem is that many other dealers will automatically ask what deal you got and offer to match it if you don't go with them, but I wanted to give my business to the one that worked with me up front. I agree that you shouldn't try to put dealers against each other. It screws everybody over.

The only downside of a Dealer 2,000 miles away is local service departments at dealers you did not purchase a car from are often stingy on BMW loaner cars.

Hello Enterprise.

You also risk giving up the Lemon Law Protection and other potential headaches that rarely happen when buying out of State.

Feeling lucky?

[GOLFFRR]

Originally Posted by IK6SPEED

The only downside of a Dealer 2,000 miles away is local service departments at dealers you did not purchase a car from are often stingy on BMW loaner cars.

Hello Enterprise.

You also risk giving up the Lemon Law Protection and other potential headaches that rarely happen when buying out of State.

Feeling lucky?

A dealer makes a lot of money off service (large portion of overall profits) If a dealer is dumb enough to push off business bc you didn't buy a car form them then thats prob not a dealer you want to work with TBH. We service cars everyday that we didn't sell originally. I dont see why any other dealer would be different.

[IK6SPEED]

Originally Posted by GOLFFRR

A dealer makes a lot of money off service (large portion of overall profits) If a dealer is dumb enough to push off business bc you didn't buy a car form them then thats prob not a dealer you want to work with TBH. We service cars everyday that we didn't sell originally. I dont see why any other dealer would be different.

I have seen it multiple times first hand....and there is a new topic about it on the forum as well.

You give all those owners Loaner BMWs at no charge?

Honestly, trying to get a BMW Loaner even from a Dealer you purchased from is clearly an issue as more and more are commenting about it on the forum. It certainly appears that BMW Dealers are cutting way back on their loaner fleets (or BMW reliability is getting worse).

Obviously, your Dealership does a lot of thing right. That cannot be said for the entire BMW Dealer Network.

[GOLFFRR]

Originally Posted by IK6SPEED

I have seen it multiple times first hand....and there is a new topic about it on the forum as well.

You give all those owners Loaner BMWs at no charge?

Honestly, trying to get a BMW Loaner even from a Dealer you purchased from is clearly an issue as more and more are commenting about it on the forum. It certainly appears that BMW Dealers are cutting way back on their loaner fleets (or BMW reliability is getting worse).

Obviously, your Dealership does a lot of thing right. That cannot be said for the entire BMW Dealer Network.

we do not discriminate nor do we ask if they bought their car from us. We are just happy they feel confident to bring their service business to us. I just think it would not be in the best interest of a buyer to not get quotes from other dealers bc they fear the won't be able to get a loaner. The only reason I can think of that a dealer would not offer a loaner would be due to large volume of service clients. If its a big metro area a dealer could see a large amount of customers and may just not be able to have the loaner volume to keep up. Those dealers most likely provide a car service. Best way to go around this issue is to become friends with your SA and dial in your needs prior to showing up

Thank you for the kind words on our little store, means a lot!

[Blubaron79]

Originally Posted by IK6SPEED

The only downside of a Dealer 2,000 miles away is local service departments at dealers you did not purchase a car from are often stingy on BMW loaner cars.

Hello Enterprise.

You also risk giving up the Lemon Law Protection and other potential headaches that rarely happen when buying out of State.

Feeling lucky?

I bought my cat across the state where I used to live because my sales person was awesome.

I made with the local Service Advisor, and even told her I am picking my new 340 this month. She goes: "I don't care, our sales staff sucks anyway. I'll still take care of you."

[kern417]

Originally Posted by GOLFFRR

A dealer makes a lot of money off service (large portion of overall profits) If a dealer is dumb enough to push off business bc you didn't buy a car form them then thats prob not a dealer you want to work with TBH. We service cars everyday that we didn't sell originally. I dont see why any other dealer would be different.

I mean I bought from you then moved states 3 months later. There should be no difference to them since I didn't even live in this state when I ordered it. That would be dumb for them to only treat previous customers with the best service, unless they want me to buy from that dealer again

[IK6SPEED]

Originally Posted by kern417

I mean I bought from you then moved states 3 months later. There should be no difference to them since I didn't even live in this state when I ordered it. That would be dumb for them to only treat previous customers with the best service, unless they want me to buy from that dealer again

Clearly you haven’t dealt with many different Car Dealers.

Dumb for them when it comes to Customer Service?

Have you forgotten who we are talking about?

Why do a large number of posters call them “Stealerships”

[kern417]

Originally Posted by IK6SPEED

Clearly you haven’t dealt with many different Car Dealers.

Dumb for them when it comes to Customer Service?

Have you forgotten who we are talking about?

Why do a large number of posters call them “Stealerships”

I haven't, but it doesn't negate my point. When I went to my local dealer a month ago, they asked who sold me the car. I told them that I bought the car from out of state and just moved here, and they said ok. End of convo. If they started treating me like crap for that, there's another dealer 20 min away. And if they did the same, there's another an hour away.

They'd be dumb to lose some business because they didn't get all of my business. We call them stealerships because many primarily care about $$$, and that's what they'd be forfeiting.

[jjrandorin]

Originally Posted by Mauricehenry

What’s the 2400 for? Is that the taxes and fees?

I am a bit late to this thread, but the answer to your question is that is the figure you multiply a money factor by to convert it to interest rate.

Most people are used to looking at loan interest rates, but money factors are just a "decimal point" number.

For example, if money factor is .00152, multiply that by 2400 (2400 X .00152) and you get 3.648. That means that Money Factor .00152 is = to an interest rate of 3.648% (or 3.65% rounded up). Easier to compare your lease money factor to interest rate this way.

Loan interest rate must be disclosed by the business giving you the loan (I am fairly sure that is a legal requirement). Money factors do NOT have to legally be disclosed, so you must ask for that information (and maybe confirm it).

[MConte05]

Also, search the Edmunds forums for the residuals and base money factors before talking to a dealer. Just google "BMW 3 series lease residual edmunds" or whatever car you are thinking of.

Almost every dealer will try to mark up the MF to pad their profit hoping no one will notice. Some will say they can't do buy rate (currently 0.00152), but it's all B.S. Most often will quickly find they quote 0.00192 which amounts to about $50-70 a month on a typical BMW lease. Adds up fast.

Also look into service loaners/exec demos under 5000 miles. These qualify for new car rebates, and are often severely discounted. I got myself an F31 wagon, pretty well loaded for $216 a month with zero down thanks to it being a service loaner, discounted nearly 27% off MSRP, and then add in the BMW incentives on top of that.

For reference it was a $52,000 car. There would be zero way to save that much on a lease on a new car.