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HOWTO: Negotiate BMW iX lease

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BIMMERPOST

I posted this information earlier than, it was properly obtained and helped just a few folks get their leases cheaply. With the current discussions about reductions happening, it will likely be useful to have a devoted thread on lease negotiations. Be happy to ask questions, crowdsource suggestions, and share vendor/dealer data. I’ll replace remark #2 with hyperlinks to most useful feedback to create a sort of wiki.

Overview
I ended up getting 2 related offers from 2 Bay Space sellers: (1) 10% off MSRP with MF of 0.00111, and (2) 11.65% off with MF of 0.00151. These seem like among the many finest phrases I’ve seen on-line in July/August 2023 for a customized orders, however these phrases are completely replicatable. Sellers are extra motivated to promote the incoming vehicles and vehicles already on the tons, so for them reductions can attain 12-13% at base MF. Particulars of the deal (1):

  • 10% off MSRP, so promoting value is 108K, down from 120K, for a customized order M60.
  • “Base” cash issue (MF) of 0.00111, which is the same as APR 2.6%
  • $9900 lease credit and an additional $1000 for having a commencement from Stanford GSB later this yr (it is only a certificates, not even a level, however it did work)
  • Full zero drive-off. Vendor requested for 1K refundable deposit.
  • Cost at nearly precisely $1400 monthly, inclusive of taxes and costs. That is 36/7.5K miles lease.
  • Promise that if BMW monetary improves phrases whereas the automotive is being constructed, I get the higher phrases (sometimes, it is each MF and lease rebate)
  • Vendor mentioned it is okay if I return the automotive with totally different tires, so I can change to all-season tires immediately. Not clear if this can work ultimately, however getting this from vendor in writing could be helpful if returning the automotive to the identical vendor.

Course of
It is best to positively attain out to brokers first and see what they’ve, and resolve whether or not you are prepared to go together with them. Most brokers work with a number of sellers throughout the nation, and can have entry to inventory at every of these sellers and/or can place an order at them. One in all my brokers was going to ship my automotive to a vendor at Idaho: it will be a 800 mile flight + highway journey for me, and I used to be OK doing this journey to save lots of just a few thousand. To search out brokers, go to Leasehackr discussion board, choose your state and BMW because the make. I personally messaged all of the brokers who had been energetic within the final month. In case you don’t see too many brokers who work in your area, you can too test those who checklist neighboring states as properly, for those who’re okay selecting up your automotive there. When messaging, clarify your state of affairs and what you are searching for. All of them choose to promote you inventory, but when they do not have what you need, additionally ask for a customized order and how much deal they will do. Most brokers will nonetheless provide you with an excellent low cost on orders, however normally they’re higher for inventory.

For native sellers, counsel you take a look at drive with just a few of them (as many as you care, possibly choose totally different fashions), ideally establish the vehicles in inventory you want. All of them endure from the “sunk price fallacy” and offers you a greater deal if they’ve already frolicked with you. Mine needed to push inventory at first and did not supply an excessive amount of of a reduction. Tables turned once I texted them one thing like: “FYI, obtained a few affords from brokers at 9-10% off MSRP, so must go that method. Would love to purchase domestically, however the value distinction is an excessive amount of. Thanks for take a look at drive and getting me bought on the automotive”.

I used to be solely doing it to not be impolite, and did not count on something, however there was some magic in what I mentioned and each native sellers promised to offer me 10% off on an order. One ultimately did not comply with by way of, however the different one did.

With each brokers and sellers, keep in mind which you can solely get one of the best deal for those who’re completely prepared to purchase in the present day, however you’re additionally prepared to stroll away – they will maintain supplying you with higher affords till they will not go decrease, after which they allow you to stroll. You possibly can at all times come again to one of the best deal that they had supplied earlier than you stroll away, even when they declare that deal is “useless for those who stroll out the door” or one thing.

Zero drive-off was the very last thing I negotiated. You normally begin with the massive objects and also you proceed to smaller ones. Largest objects are: 1) low cost 2) MF 3) particular automotive or order. Smaller are 4) cash down 5) further reductions (e.g. school grad low cost for me – additional work for vendor) 6) additional favors (e.g. returning the automotive with one other set of tires)

To summarize
1) Textual content all brokers who had exercise on Leasehackr inside ~1 month and see what offers / affords they’ve. Ideally you’d discover one thing you want in inventory for one of the best deal.
2) Cross-shop with brokers, inform everybody what one of the best deal you bought, they are going to all progressively enhance. Ultimately, it is best to discover just a few you’ll be able to really go together with, e.g. the drive isn’t too far to choose up and return the automotive, otherwise you’re pleased with supply charges.
3) Schedule take a look at drives with BMW sellers close by. They are going to solely provide you with their finest offers for those who take a look at drive. Counter-intuitive however true.
4) Hopefully by the point you take a look at drive, you get some respectable affords from the brokers, and might current them to your sellers. You’ll see if any of them are motivated sufficient to give you a deal.

Price it?
I did all that whereas nonetheless deciding which automotive and configuration I needed, so didn’t actually spend a lot additional time. But when this all seems like an excessive amount of work for just a few thousand {dollars} of low cost – possibly it’s, for you. Everyone seems to be at all times free to pay any value they need and be pleased with the automotive, and the value is definitely not the one issue. Construct timeline, trade-in worth, time spent, relationship with the dealership, charges, constructive and damaging extras, and different components additionally matter. I personally hate the automotive shopping for course of, however discover it helps me grasp my negotiation abilities. As well as, getting this sort of deal was important for me to contemplate BMW – it will be an excessive amount of outdoors of my goal finances in any other case.

 In case you’re making an attempt to know if a vendor is supplying you with an excellent deal – plug the numbers in Leasehackr calculator and see what fee you’re presupposed to get with the canonical finest phrases, and/or the phrases they’re providing. If one thing appears method off, vendor/dealer might be making an attempt to cover one thing.





Final edited by ilya4min; 08-15-2023 at 03:55 PM..




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