Quote:
Originally Posted by doctorttt
Folks, need some help. I have never done a lease before and want to lease the 2020 G06 x40i. I did some research already but wanted to check with you people to see what I'm missing before speaking with a list of dealers I have.
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Agree with everything
bluzbra responded with above, and I'll just add a couple thoughts:
1) Do people generally lease a vehicle that's already at the lot? Is it uncommon to lease a custom build?
If it's uncommon to lease a custom build it's only so because people are not aware of that option (and I'm not sure dealers advertise the ability to custom order). But you can choose to lease either way.
2) I will need to know the MSRP of my build and negotiate a discount before any incentives, right? (I will review the pricing guide.)
Yes, it's best to be as well-informed as possible when going into this process. Don't rely on the sales person to provide you with information, rather, the sales person should simply be confirming the information you already have through your research.
3) Ask the dealer to provide the money factor and residual value, right? I'm looking for 3 years/10k. I heard MF could be negotiated, right?
Residual value is fixed through BMWFS so that's ok to ask the dealer. But I would strongly advise you go in knowing what the base money factor already is, because that's something dealerships can (and often do) mark up. The money factor is negotiable up to the base rate set by BMWFS, and can not be negotiated below that. (i.e. if the base money factor is set at 0.00142 but the dealer is trying to charge you 0.00182, you have the ability to negotiate it down to the 0.00142 base rate). Edmunds forums provide a great resource for money factor and residual value information.
https://forums.edmunds.com/discussio...als-and-prices
4) I will be a first time BMW driver and I believe I'm qualified for conquer. Does BMWFS offer any lease rebate? I'm already a CCA member since summer 2019.
I would reference Edmunds for that information as well.
5) I want to get rid of my current car. If buying, I know the trade-in value of my current vehicle is tax-deductable. Does leasing have something like this? I heard that in a lease, trade-in is a separate transaction.
Trade-in can be factored into the same transaction similar to when buying, but it's typically advisable to treat a trade-in as a separate transaction so as not to muddy the waters with the deal you're getting (often times dealers may try to recoup money from one end or another, either a lower discount on your car or a lower value for your trade-in). By separating the transactions you remove any potential confusion the dealer may (intentionally or not) cause.
6) For a lease, how do I avoid upfront payment? Is it possible to have zero (or minimal) upfront payment?
Typically yes you can request a $0 drive-off in which all fees/taxes are simply rolled into the monthly payment. This may vary by region/dealer, but it's something you can request.
7) What else do I need to know?
As mentioned earlier, do as much research as possible before approaching this. Ultimately your goal is to have all the numbers figured out on your own, and at that point the dealer simply needs to agree or decline. The benefit this provides is that the sales person then sees this as an "easy sale" because all of the up-front work has been done. In that case they're more likely to agree to a better discount. Another thing I would suggest is to involve multiple dealers to help secure the best deal for you. If one dealer doesn't agree to your numbers, move on to the next. In my experience, I did all negotiations over email/phone, and the only time I stepped foot into the dealer was to sign the paperwork, and then a 2nd time when it was time to take delivery of my car.
Good luck!