'19 M4 lease deal! Thoughts?

[edb4164]

Originally Posted by turboso

I end up getting$899 with $899 down. Thats $8,250 in rebates and $10,300 discount off msrp. On a $89,355 msrp m4 2019. I think i got a pretty good deal

Can you please provide details?

So you got the car at $70,000 selling price? If so, your payment would be in the $500-$600 range if the residual is 56%.

[PilotPri]

Originally Posted by edb4164

$15,000 down? Am I reading that correctly?

Refundable Security deposit: $4550
+Down payment: $ 2523
=Cash down is $7073.48
+Dealer rebate: $7500

Total down: $14,573.48

[turboso]

Originally Posted by PilotPri

Refundable Security deposit: $4550
+Down payment: $ 2523
=Cash down is $7073.48
+Dealer rebate: $7500

Total down: $14,573.48

So they basically didnt give you any discount on the car other than the rebates. If its like that you could have done a better deal on any other dealership. I got my car from a dealership in Ct and I got $8,250 in rebates plus $10,300 discount of the msrp and my payment was $838 before tax and I only put $899 down. Mf .00175.

[turboso]

Originally Posted by edb4164

Can you please provide details?

So you got the car at $70,000 selling price? If so, your payment would be in the $500-$600 range if the residual is 56%.

Residual 57% and $73,000 with fees. Remember you have to add the rent charges that are around $7,200, so that around $80k less $50,932 residual and that makes the payment around $838. Thats my payment

[edb4164]

Originally Posted by PilotPri

Refundable Security deposit: $4550
+Down payment: $ 2523
=Cash down is $7073.48
+Dealer rebate: $7500

Total down: $14,573.48

If your security deposit is refundable, then it is not a cap cost reduction. When they give you that back, it’s like it never came off the price of the car so they would be losing money since it was factored in (off MSRP) to determine your payment. Maybe I’m missing something. Unless these are MSDs (multiple security deposits) which just decrease the Money Factor.

[PilotPri]

Originally Posted by edb4164

If your security deposit is refundable, then it is not a cap cost reduction. When they give you that back, it’s like it never came off the price of the car so they would be losing money since it was factored in (off MSRP) to determine your payment. Maybe I’m missing something. Unless these are MSDs (multiple security deposits) which just decrease the Money Factor.

Ya the security deposit is strange. I've leased cars in the past and never paid a deposit before nor ever heard of one til now.

[edb4164]

Originally Posted by PilotPri

Ya the security deposit is strange. I've leased cars in the past and never paid a deposit before nor ever heard of one til now.

I would get details on that security deposit.

I think the next thing to do is ask the dealer the *actual* final selling price of the car and also the money factor rate they are using. Then, please post back the figures here and we can determine the strength of the deal.

[PilotPri]

Originally Posted by edb4164

I would get details on that security deposit.

I think the next thing to do is ask the dealer the *actual* final selling price of the car and also the money factor rate they are using. Then, please post back the figures here and we can determine the strength of the deal.

Will do that in the morning ! Thanks

[PilotPri]

Originally Posted by PilotPri

Ya the security deposit is strange. I've leased cars in the past and never paid a deposit before nor ever heard of one til now.

Got a clarification on the security deposit

[redblaze]

Originally Posted by PilotPri

Got a clarification on the security deposit

Originally Posted by PilotPri

Got a clarification on the security deposit

I don't get it.

It seems the dealer treated your security deposit as another down payment and reduced your monthly payment accordingly. In that case I guess you won't be able to get security deposit back at the end of lease?

[vitaly]

The $4550 seems like the max (7) Multiple Security Deposits (MSDs), which makes sense: it's monthly payment rounded up to nearest $50 (so $650 in this case) * 7. MF for July should've been brought down to .0011 as a result (if there was no dealer markup).

As mentioned by others, you get them back at lease termination; BMWFS is allowed to use that $ to cover any excess wear and tear, or otherwise collect unpaid debt on the account, but that's just standard legalese AFAIK.

[PilotPri]

Originally Posted by vitaly

The $4550 seems like the max (7) Multiple Security Deposits (MSDs), which makes sense: it's monthly payment rounded up to nearest $50 (so $650 in this case) * 7. MF for July should've been brought down to .0011 as a result (if there was no dealer markup).

As mentioned by others, you get them back at lease termination; BMWFS is allowed to use that $ to cover any excess wear and tear, or otherwise collect unpaid debt on the account, but that's just standard legalese AFAIK.

Thanks. So what you think about the deal overall?

[PilotPri]

Originally Posted by redblaze

I don't get it.

It seems the dealer treated your security deposit as another down payment and reduced your monthly payment accordingly. In that case I guess you won't be able to get security deposit back at the end of lease?

No the deposit is fully refundable

[spool twice]

i think its a decent deal, because in FL the stupid fees are like $2,xxx (license/tag transfer fee, dealer fees/docs, acquisition, tax on these items), if its a new license/tag, then that likely is where the extra difference is coming into play.

See if you can still get $1,000 knocked off though, just for fun.

[vitaly]

Seems like a decent deal: ~11% off before incentives. But, I’m not up to speed on the 19 M4 market, especially so in FL .

How did you rack up $7500 in incentives? I think normal lease credit is $5500 for 19s.

[PilotPri]

No idea. My brother leased a m550 for 700/month with 2500/down and asked the same sales agent if he could get me a M4 for less then 650/month and few days later he showed me this deal.