[bjrft]

Hi Folks!

I'm getting ready to start my first lease on my first BMW.

I've been reading through the stickies and have gotten the following information on this car:

Certified Preowned Elite
Model: 328i xDrive
Year: 2016
Miles: 3,369
Packages:
- Premium Package
- Navigation
- Driver Assistance Package
- Cold Weather Package
- Sport Package
- Storage Package
- LED Headlights

From the dealer:
MSRP: $50,095
Residual: $32,300 (64.48% of MSRP)
Money Factor: 0.00137
Dealer Fees: $75
Net Cap: 43,961.32 (Sale Price - $163.68 Cap Cost Reduction + $925 bank acquisition fee)

The cap cost reduction is left over from the $2,000 due at inception. It covers sales tax (7% in NYS), 1st month's payment, and estimated fees. This puts the monthly payment at about $406 for 10k miles (I'll end up doing 12k).

We've done no negotiating yet but was wondering what your thoughts were about this deal? What are some realistic offers I should start with or is this a pretty good deal?

Thanks for the help!

[BEM-S4]

So you're paying what $46k for the car selling price? That's 8% off for a used car? Granted the CPO is nice and a $2k value but you should be able to get 8% off a brand new car. If you don't keep the car after the lease who gives a shit if it's CPO - if you do you can usually get CPO free of charge at buyout.

You're paying a mileage penalty on the residual - you should be getting more off.

[bjrft]

Thanks for the feedback.

The sell price works out to 43,200 which is about 13.5% if I did my math correctly. What is a realistic discount % for a used car? I am not planning on keeping the car after the lease is over; are you saying I should tell the dealer to ditch the CPO designation/warranty (they mentioned I could save money if I lose the extended warranty on another car; I'm assuming this is what they meant) if possible?

[BEM-S4]

Originally Posted by bjrft

Thanks for the feedback.

The sell price works out to 43,200 which is about 13.5% if I did my math correctly. What is a realistic discount % for a used car? I am not planning on keeping the car after the lease is over; are you saying I should tell the dealer to ditch the CPO designation/warranty (they mentioned I could save money if I lose the extended warranty on another car; I'm assuming this is what they meant) if possible?

If they already paid to certify it not much you can do there. Ask though they may not have done it yet. You should also see if it's really used or exec
demo. If demo you should have BMW new car incentive $ available to you too.

[jmg]

That's new car money IMHO. I've always been told that leasing a CPO car is just a bad decision overall. Might as well buy it or lease a better NEW car.