The power of knowledge
This board has been such a wealth of knowledge for novices like me. I still remember leasing my first Infiniti in 2004 and letting the dealer take me by the leash I like to call "monthly payments"!
A good friend of mine finally decided to fulfill his 10 year obsession and get a BMW this week. Of course, knowing I am OCD about all the nuances and intricacies of leasing he called me. My advise was:
- Find the car you like
- Negotiate off invoice price (93% of MSRP to get ballpark)
- Gave him the December MF - told him no markups
- Gave him the residual
- Told him to look out for exorbitant document fees and acquisition fee markup
- Told him not to freak out about MACO
- Told him all about MSD
- Told him not to make any down payments
He walked into an East coast dealership today, finds the car of his dreams. The CA of course starts negotiating off monthly payments. My friend called me at least 10 times over the next two hours to nail the deal down. He got a very fair deal without screwing the dealer (700 over invoice). At the end of the day, he drove out of the dealership in a 2013 535X with a big smile on his face.
Bottom line: I want to thank all the members and sponsors on this forum for making our community so awesome!
Current: 2016 M5|| Black Sapphire, Black Full Merino, CP, Exec P, Dri Ass +, Performance Exhaust, B&O, Black Grills
Retired: 2014 535|| Jet Black, Mocha, M-sport, 704, Premium, SAT, Nav, HUD[/B]
Retired: 2012 535|| Titanium Silver, Black, M-sport, Premium, SAT, Nav, Apps
Retired: 2010 535|| White, Natural Brown, Sports, SAT, iPOD, Rear airbags
Retired: 2008 528 - Premium, iPod, Cold Weather, Titanium with black interior