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Old 06-30-2020, 06:39 PM
Seldenlo Seldenlo is offline
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Good deal or bad deal on a 2020 m340i xdrive

Hey fam!!! I got a lease for a new 2020 m340i xdrive for $549 a month with 4300 down. Msrp was 61k. 36month with 10k yearly. Is that's a good deal or bad? Thank you very much.
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Old 06-30-2020, 10:09 PM
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tturedraider tturedraider is offline
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I hate to rain on your parade, but you didn't get a good deal. Taking into account your down payment your effective monthly payment is $668. On a $61k car, figuring a payment at 1% of MSRP (which is roughly the point of a good deal) the payment would be $610. So, your payment is about $58 higher than it would be with a good deal.

Did you make the deal already? If so, don't beat yourself up. Just enjoy the car. It's a great one.
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Old 07-01-2020, 04:19 AM
Seldenlo Seldenlo is offline
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Thanks for your response. What about the tax and fees because the 4300k down payment included taxes, fees, and first month payment. What is the true rule of thumb for the 1%. Thanks.
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Old 07-01-2020, 01:44 PM
NTOwens NTOwens is offline
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Quote:
Originally Posted by Seldenlo View Post
Hey fam!!! I got a lease for a new 2020 m340i xdrive for $549 a month with 4300 down. Msrp was 61k. 36month with 10k yearly. Is that's a good deal or bad? Thank you very much.
It's definitely not a horrible deal... and good deals right now are harder to come by. Plenty of reasons I could explain for all that, but unless you really want the why, I will just focus on the particulars and offer a comparison. Just keep in mind that my deal was from last November.

So my monthly, like yours is $550 for 36mo/10k miles. But my MSRP was a little higher at $67,275.

I put down ~$1700 to cover the Dealer Acquisition ($925), Doc Fee ($425), and title fees (and to get my payment at exactly $550. lol. I registered it on my own, so those expenses are not captured in my deal. I also put down the full allotted, 7 Multiple Security Deposits (MSDs) for a total of $3850... thus lowering the MF from 3.07% to 2.23% which saved about $36 per month.

My negotiated sales price, before any rebates/incentives was 10.5% below MSRP. I was quite lucky to have qualified for $3500 of Lease Credit/Conquest Cash/USAA rebate/and a test drive event.

So for me, the stars and moon all aligned up just right. It was a special order, so I got everything I wanted and nothing I didn't want. And it all timed out just right with my outgoing lease (AMG C43).

I acknowledge that my deal isn't necessarily typical... but it IS doable.

On a side note... Just yesterday, I locked in a deal for my wife and we got her into a 330i M Sport. We also did MSDs ($2800) on this deal, but put a little more down ($2700), to get her at $400 per month / 36mos/12K miles for an MSRP of $49,895. Because he had to trade with another dealer, we "only" got 9% off MSRP to offset the invoice markup from that dealer ($425) and driver expense to get it. The lease cash was only $750, but now we qualified for Loyalty, for another $2000, and USAA is still giving $500. So alltogether, another really solid deal.

As I finished writing this, I realized it might sound horrible, or braggadocios.... but I just wanted to share what I think would be considered a "Really Good Deal". And I've helped people buy cars for over 24 years as a side hustle. I'm not an official broker or anything, I just get repeat clients from my days in the military, and word of mouth referrals. So I am definitely more experienced than the typical consumer.

Lastly, I totally agree with tturedraider... if you have already closed the deal... just enjoy it. You are in a GREAT car, and you didn't get a "Bad" deal, that's for sure. If not, there still may be ways for you to improve it a bit... and if you want any help, hit me up.

Last edited by NTOwens; 07-01-2020 at 01:49 PM.
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