[rivma13]

Originally Posted by ilya4min

I posted this guide before, it was well received and helped a few people get their leases cheaply. With the recent discussions about discounts going down, it will be helpful to have a dedicated thread on lease negotiations. Feel free to ask questions, crowdsource tips, and share dealer/broker information. I will update comment #2 with links to most helpful comments to create a kind of wiki.

Overview
I ended up getting 2 similar deals from 2 Bay Area dealers: (1) 10% off MSRP with MF of 0.00111, and (2) 11.65% off with MF of 0.00151. These appear to be among the best terms I’ve seen online in July/August 2023 for a custom orders, but these terms are absolutely replicatable. Dealers are more motivated to sell the incoming cars and cars already on the lots, so for them discounts can reach 12-13% at base MF. Details of the deal (1):

• 10% off MSRP, so selling price is 108K, down from 120K, for a custom order M60.
• “Base” money factor (MF) of 0.00111, which is equal to APR 2.6%
• $9900 lease credits and an extra $1000 for having a graduation from Stanford GSB later this year (it's just a certificate, not even a degree, but it did work)
• Complete zero drive-off. Dealer asked for 1K refundable deposit.
• Payment at almost exactly $1400 per month, inclusive of taxes and fees. This is 36/7.5K miles lease.
• Promise that if BMW financial improves terms while the car is being built, I get the better terms (typically, it's both MF and lease rebate)
• Dealer said it's ok if I return the car with different tires, so I can change to all-season tires right away. Not clear if this will work in the end, but getting this from dealer in writing might be useful if returning the car to the same dealer.

Process
You should definitely reach out to brokers first and see what they have, and decide whether you're willing to go with them. Most brokers work with multiple dealers across the country, and will have access to stock at each of those dealers and/or can place an order at them. One of my brokers was going to deliver my car to a dealer at Idaho: it would be a 800 mile flight + road trip for me, and I was OK doing this adventure to save a few thousand. To find brokers, go to Leasehackr forum, select your state and BMW as the make. I personally messaged all the brokers who were active in the last month. If you don’t see too many brokers who work in your region, you can also check the ones who list neighboring states as well, if you’re ok picking up your car there. When messaging, explain your situation and what you're looking for. They all prefer to sell you stock, but if they don't have what you want, also ask for a custom order and what kind of deal they can do. Most brokers will still give you a good discount on orders, but usually they are better for stock.

For local dealers, suggest you test drive with a few of them (as many as you care, maybe pick different models), ideally identify the cars in stock you like. They all suffer from the “sunk cost fallacy” and will give you a better deal if they have already spent time with you. Mine wanted to push stock at first and didn't offer too much of a discount. Tables turned when I texted them something like: "FYI, got a couple of offers from brokers at 9-10% off MSRP, so will have to go that way. Would love to buy locally, but the price difference is too much. Thank you for test drive and getting me sold on the car”.

I was only doing it not to be rude, and didn't expect anything, but there was some magic in what I said and both local dealers promised to give me 10% off on an order. One in the end didn't follow through, but the other one did.

With both brokers and dealers, remember that you can only get the best deal if you're absolutely willing to buy today, but you’re also willing to walk away - they'll keep giving you better offers until they can no longer go lower, and then they let you walk. You can always come back to the best deal they had offered before you walk away, even if they claim that deal is "dead if you walk out the door" or something.

Zero drive-off was the last thing I negotiated. You usually start with the big items and you continue to smaller ones. Biggest items are: 1) discount 2) MF 3) specific car or order. Smaller are 4) money down 5) additional discounts (e.g. college grad discount for me - extra work for dealer) 6) extra favors (e.g. returning the car with another set of tires)

To summarize
1) Text all brokers who had activity on Leasehackr within ~1 month and see what deals / offers they have. Ideally you'd find something you like in stock for the best deal.
2) Cross-shop with brokers, tell everyone what the best deal you got, they're going to all progressively improve. Eventually, you should find a few you can actually go with, e.g. the drive is not too far to pick up and return the car, or you're ok with delivery fees.
3) Schedule test drives with BMW dealers nearby. They will only give you their best deals if you test drive. Counter-intuitive but true.
4) Hopefully by the time you test drive, you get some decent offers from the brokers, and can present them to your dealers. You’ll see if any of them are motivated enough to offer you a deal.

Worth it?
I did all that while still deciding which car and configuration I wanted, so didn’t really spend much extra time. But if this all sounds like too much work for a few thousand dollars of discount - maybe it is, for you. Everyone is always free to pay any price they want and be happy with the car, and the price is surely not the only factor. Build timeline, trade-in value, time spent, relationship with the dealership, fees, positive and negative extras, and other factors also matter. I personally hate the car buying process, but find it helps me master my negotiation skills. In addition, getting this kind of deal was essential for me to consider BMW - it would be too much outside of my target budget otherwise.

 If you’re trying to understand if a dealer is giving you a good deal - plug the numbers in Leasehackr calculator and see what payment you’re supposed to get with the canonical best terms, and/or the terms they're offering. If something looks way off, dealer/broker is probably trying to hide something.

Great post, thank you. For all of us that already got screwed by the dealers, if we got into a bad lease and we pay off the lease early, let’s say I regret doing a lease and I want to pay it off on month 3, does a crooked MF still matter?

[ok31]

Originally Posted by rivma13

Great post, thank you. For all of us that already got screwed by the dealers, if we got into a bad lease and we pay off the lease early, let’s say I regret doing a lease and I want to pay it off on month 3, does a crooked MF still matter?

How would this work? Pay off the entirety of lease 36+k upfront?

[M3WC]

Originally Posted by NOVA99

Discounting the F out EV’s already. And it’s beginning…

There is even better lease credits and msrp discounts on Benz EQS/EQE models. Benz dealers are flooded with EQ inventory.

[BMWEVGuy]

Originally Posted by M3WC

There is even better lease credits and msrp discounts on Benz EQS/EQE models. Benz dealers are flooded with EQ inventory.

are you talking about the SUVs ? what deals are available ?

[SoCali E36]

It’s being discounted for a reason. No one wants these things. The fact that bmw has large incentives on the iX and i4 says a lot about how people are voting with their wallets.

[Alpine300zhp]

Originally Posted by SoCali E36

It’s being discounted for a reason. No one wants these things. The fact that bmw has large incentives on the iX and i4 says a lot about how people are voting with their wallets.

This. I don’t care if I can get an iX 60 for 599 a month or i4 50 for 299 a month with zero cap cost reduction, I still won’t get one because I don’t want an electric car at any price. That’s just me.

[Hotflare]

I'm in the bay area too and even though I want to buy a home before dumping my dd ('16 base x5) for an iX, if they get as desperate as to let these things go for crazy deals I'd be happy to hit up Peter pan or even bmw of fremont lol

[SoCali E36]

Originally Posted by Alpine300zhp

This. I don’t care if I can get an iX 60 for 599 a month or i4 50 for 299 a month with zero cap cost reduction, I still won’t get one because I don’t want an electric car at any price. That’s just me.

EXACTLY! You couldn’t give me one for free.

[capt_slow]

The OP deal on this iX exceeds the 1% rule (payment should be 1% of the MSRP or less w/ $0 down). A leasehackr score of 8. It is not a good deal, but the idea is there: negotiate, stack on credits, use MSDs if you can.

Originally Posted by BMWEVGuy

are you talking about the SUVs ? what deals are available ?

Originally Posted by SoCali E36

It’s being discounted for a reason. No one wants these things. The fact that bmw has large incentives on the iX and i4 says a lot about how people are voting with their wallets.

Unpopular cars tend to be good lease deals. I leased my $115K EQS sedan for effectively $480/month and I wasn't alone, the EQ sales figures for those few months shot through the roof. When Mercedes decided enough was enough and yanked all trunk money, conquest credits, and other sales support, numbers dropped like a stone.

The EQS and iX suffer from the same issues: they are overpriced. It's not that EVs dont sell, it's that manufacturers got greedy in marketing their EVs as top tier models. The i4 suffers from being a sedan, the iX suffers from the price. BMW doesnt offer a smaller, more affordable EV SUV the size of a X3 or X1.

I got friends who are coming off their $57 i3 leases and they are not compelled to stay within the brand for above reason. I bought out my i3 lease and the EQS was just a YOLO for how crazy cheap the deal was.

[JohnnyBeagle]

I expect iX/EQS pricing to continue dropping because Tesla keeps dropping in entry level pricing. I think they'll be even better lease deals to compete with the much cheaper Model X. Yes the Tesla is built poorly, but I think your average person still considers Teslas as luxury and the charging network is still far superior for those that road trip or have range anxiety.

[Kief]

Excited to take delivery of one of these oinkers on Saturday for my wife! Can’t wait to see how it compares to my i4 M50. We’ve been a full BEV garage for close to a year now, and find it hard to go back to ICE or even a PHEV. We had an X5 50e on order for delivery next month, and although the LCI has improved significantly IMHO compared to last year when we considered the 45e, it wasn’t enough to sway us back.

[JK479]

Originally Posted by ilya4min

Yep, went with the 50, this was the configuration I originally wanted, but couldn't get due to Air Suspension option unavailability. BMW was great with their timing adding the option back!

Think you can lock in an order these days? How long will it take for an order to arrive?

[13 NF]

Hi I am from UK
The iX and other ranges are dominating the stock profile of our stealers, clear frustration over this and lack of buyers appears to be coming through, dispite endless training by BMW UK( brainwashing)
Currently there are new 202 iXs available in UK o. A third party site with plenty more on site! The current influx is the iX1 my local dealer had 6 in the show room, quite comical actually, it’s going back to the old Henry Ford days! You can have any car providing it’s the electric one.
On a more serious note, I am just very weiry on any lease here in uk as the prices are bonkers, being left with an expensive deal in 18 months time when things have normalise concerns me.
Just look at used values, some iXs are £50k cheaper 1year old!!
Good luck anyway just my opinion

[cfm56d7b]

Great article, ilya4min!

Leading indicators are what they are but this one is worth sharing. When the consumer reigns in spending, the discounts could be larger. To be monitored and continued ...

"Macy’s and Costco sound a warning about the economy"

https://www.cnn.com/2023/06/01/inves...tco/index.html

[stoked335d]

If they had it for $299 a month with no money down then I would think about it as a second car and save putting in garbage miles on my ‘22 X3MC from shopping/errands etc. No way leasing one of these for $1400!

You guys are out of your mind if you think 12% off one of these overpriced cars is a great deal!

[evobeatsti]

If you’re looking for a good deal, bmw Santa Barbara had one on the lot they were advertising at ~$1,500 a month on a lease lr something in that range

[chmura]

Originally Posted by NOVA99

Discounting the F out EV’s already. And it’s beginning…

Long Live V8’s and Diesels. 😎

Hope so! I just rented a Puegot 5008 in Europe 7 passenger vehicle and I got 47 MPG and a 1000 km range without even driving on a highway.

Beats any hybrid in the US.

[darksilkx1]

Originally Posted by capt_slow

The OP deal on this iX exceeds the 1% rule (payment should be 1% of the MSRP or less w/ $0 down). A leasehackr score of 8. It is not a good deal, but the idea is there: negotiate, stack on credits, use MSDs if you can.

Unpopular cars tend to be good lease deals. I leased my $115K EQS sedan for effectively $480/month and I wasn't alone, the EQ sales figures for those few months shot through the roof. When Mercedes decided enough was enough and yanked all trunk money, conquest credits, and other sales support, numbers dropped like a stone.

The EQS and iX suffer from the same issues: they are overpriced. It's not that EVs dont sell, it's that manufacturers got greedy in marketing their EVs as top tier models. The i4 suffers from being a sedan, the iX suffers from the price. BMW doesnt offer a smaller, more affordable EV SUV the size of a X3 or X1.

I got friends who are coming off their $57 i3 leases and they are not compelled to stay within the brand for above reason. I bought out my i3 lease and the EQS was just a YOLO for how crazy cheap the deal was.

Not sure the 1% rule works for the majority of BMW's in demand vehicles anymore. Waited 18months to trade in 19 X5 but couldn't bring myself to pay 1k to 1100 on an 85kish X5 50e. Same story with X6, X7, almost all the M models etc. Interest rates make financing equally brutal. Unfortunately no choice but to do something. My paid off X5 is calling for expensive out of warranty repairs like a leaking AC evaporator - 5k repair that requires ripping the dash and everything thing out. Long story short I bit the bullet and signed on an ordered 101k msrp IX50 for 920 a month with 0 down with MSD's 36/10. I hate the looks but love the 10% off, 9900 incentive and .00111MF (.00069 - 1.66% with MSD's). I tell myself its just a car. I'll move on in 3 years.

[darylp310]

The replies are so funny when the EV threads are on the home page and we get random people chiming in.

I’d love to take each and every one of you for a ride in my iX and change your minds! It’s like how sushi looks so weird and gross and unsafe, but once you taste it you’ll be hooked!!

I've been eating cooked food my whole life, you'll never catch me eating anything raw. I won't enjoy it!

[MaC-N54-E82]

Originally Posted by darylp310

The replies are so funny when EV threads are on the home page and we get random people chiming in.

I’d love to take each and everyone of you for a ride in my iX and change your minds! It’s like how sushi sounds and looks so weird and gross and unsafe, but once you taste it you’ll be hooked!!

Feel compelled to share my perspective on this. We have a full EV in our 5 car fleet, so I definitely drank the koolaid and know the benefits first hand. I also know no current EV, including BMW’s offerings, provides the driving experience I enjoy in my M4CX. EVs are like sushi as they’re an acquired taste that few enjoy eating/driving everyday.

[Pawtato]

Originally Posted by MaC-N54-E82

I also know no current EV, including BMW’s offerings, provides the driving experience I enjoy in my M4CX.

Have you driven a Taycan?

[exxxviii]

Originally Posted by MaC-N54-E82

Feel compelled to share my perspective on this. We have a full EV in our 5 car fleet, so I definitely drank the koolaid and know the benefits first hand. I also know no current EV, including BMW’s offerings, provides the driving experience I enjoy in my M4CX. EVs are like sushi as they’re an acquired taste that few enjoy eating/driving everyday.

At risk of further derailing an already derailed thread (this is about getting a best lease deal, not BEV preferences), the two recent objection posts are attempting to compare the driving experience of a couple M Competition models to a regular SUV. That the target of the objection is a BEV is almost irrelevant. The same two statements would apply to an ICE 7 Series boulevard cruiser. Few cars on the planet compare to an M4CX or X3MC. On the other hand, those two suuuuuck compared to the driving experience of about any BEV in stop-and-go and short trip daily driving. So, somebody sold you guys counterfeit Kool-Aid.

Our household has a full fleet of 5 cars including 2 BEVs. One is not ideal, so I have a balanced view. But the day-to-day driving comfort of a BEV is unparalleled.