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      10-17-2017, 09:56 AM   #1
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Question 2017 M240 Executive demo Lease deal? Is this good...

Looking to get out of my 328I and have a few dealerships throwing around numbers.
They found a low mile (3,200) "Executive Demo" M240 . Alpine White with Black Interior.
Here is my deal below... Please let me know if this a decent deal or not, as i have no idea coming from a 328i what the lease deals are for the M240's as an executive demo..
Thanks.

2017 BMW M240. Automatic / X drive
Cold Weather Package
0ZDA Driving Assistance Package
07S9 ConnectedDrive Package
01CA CO2 relevant vehicles
02VB Tire pressure monitor
02VC Mobility Kit
0302 Alarm System
0319 Universal garage-door opener
0322 Comfort Access keyless entry
03DZ Without Lines designation
0403 Moonroof 0423 Floor mats
0430 Auto-dimming driver mirror
0431 Auto-dimming rearview mirror
0441 Smoker's package
0459 Power Front Seats
0488 Lumbar support
0493 Storage package
04FT Aluminum trim w/ Black accent
0521 Rain sensor and auto headlight
0522 Xenon headlights
0524 Adaptive light control
0534 Automatic climate control
0563 Ambient Lighting
0609 Navigation system
0655 SiriusXM Radio w/ 1 year sub.
0674 harman/kardon Premium System
0697 DVD Area coding, North America
06AC BMW Assist eCall
06AE BMW TeleServices
06CP Apple CarPlay Compatibility
06NH Hands-free Bluetooth and USB
06WA Instrument cluster
0840 Increased top speed limiter
08KL Oil Chg 10,000 mls/12 months
08S4 Variable Light Decoding
08TN Daytime driving lights
0925 Shipping package
09AA Transport protection
0ZAC Connected App Compatibility

$4000 down / 10000 miles A YEAR / $559 per month / 36 MONTHS.
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Last edited by jamoka3; 10-17-2017 at 11:13 AM..
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      10-17-2017, 10:58 AM   #2
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I pay less than that per month with $0 down on a custom ordered M240... walk away.
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      10-17-2017, 11:03 AM   #3
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Thanks for the input... Do you think i should submit a counter offer?
I don't know where to start... Like i said i can see what a new one goes for but i have NO idea about these Executive Demos...?
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      10-17-2017, 11:03 AM   #4
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Noticed that you are in NNJ. I hope you're not dealing with Prestige.
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      10-17-2017, 11:07 AM   #5
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Prestige, Paul Miller, and Open Road BMW. I have been to them all, all have there input. Listed above so far is there best "deal"...
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      10-17-2017, 11:13 AM   #6
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Quote:
Originally Posted by chois2 View Post
Noticed that you are in NNJ. I hope you're not dealing with Prestige.
Just curious about your experience with prestige? I have leases several cars from them and have gotten very good deals.
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      10-17-2017, 12:11 PM   #7
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Call Main Line and ask for Peter Ryan. They do a shit ton of executive demo cars and usually have very good deals.

Exec demos are a bit of a balancing act where you get a discount on the car then get dinged on the residual.
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      10-17-2017, 12:40 PM   #8
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Quote:
Originally Posted by sec5197 View Post
Just curious about your experience with prestige? I have leases several cars from them and have gotten very good deals.
My last experience with Prestige was very poor. First attempt for a deal was laughable. I requested a new sales guy. Second time they made it seem like they were trying but still even after I told them "this is my final deal, i cannot go lower" the CA told me I could not do it and then waited a full week to call me back. In the meantime I emailed Mike @ Park Ave (per forum rec) and he immediately accepted my offer, which makes me think I probably could've gotten lower. But anyway you can't complain if someone accepts your offer so I'm happy. Also this car was a dealer swap from DE.
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      10-17-2017, 01:08 PM   #9
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- Sounds like a ~$53k MSRP car?
- What are they using as selling price? That kind of car should have a ~$10k discount off MSRP to be a good deal.
- Base money factor should be .00152 on the 2017s. Make sure they give you the base money factor.
- How much do you get dinged on the residual for an extra 3200 miles? 1% lower than the standard 57% 2017 residual?

I ran some rough numbers on leasehackr using $43k as selling price (what you should be pushing for), .00152 as money factor (what you should be pushing for), and 56% as the residual (assumption). Using $500 for doc fees, and a 6.875% sales tax, it came up with a $542/month payment including tax. This is on a true 0 down lease with all fees rolled into the lease, so $0 due on drive-off.

Obviously the above is a rough estimate, but ~$550/month including tax with $0 due on drive-off should be attainable for that car.
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      10-17-2017, 01:17 PM   #10
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Quote:
Originally Posted by CAMOETO View Post
- Sounds like a ~$53k MSRP car?
- What are they using as selling price? That kind of car should have a ~$10k discount off MSRP to be a good deal.
- Base money factor should be .00152 on the 2017s. Make sure they give you the base money factor.
- How much do you get dinged on the residual for an extra 3200 miles? 1% lower than the standard 57% 2017 residual?

I ran some rough numbers on leasehackr using $43k as selling price (what you should be pushing for), .00152 as money factor (what you should be pushing for), and 56% as the residual (assumption). Using $500 for doc fees, and a 6.875% sales tax, it came up with a $542/month payment including tax. This is on a true 0 down lease with all fees rolled into the lease, so $0 due on drive-off.

Obviously the above is a rough estimate, but ~$550/month including tax with $0 due on drive-off should be attainable for that car.
Thanks so much for the reply, ill use these figure as firing power, in negotiations.
I will absolutely post the outcome, and attach other offers, as they come from other dealers.
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      10-17-2017, 01:26 PM   #11
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I would never put any money down on a lease unless you are getting MSDs or don't have the credit.
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      10-17-2017, 01:40 PM   #12
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Quote:
Originally Posted by TMatt View Post
I would never put any money down on a lease unless you are getting MSDs or don't have the credit.
I would love to not put any cash down, and i have no idea how a Multiple Security Deposit works so...?
My credit is excellent , (Ie: over 825) debt to income is great as well. I will qualify with no issue.
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      10-17-2017, 02:53 PM   #13
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Quote:
Originally Posted by CAMOETO View Post
- Sounds like a ~$53k MSRP car?
- What are they using as selling price? That kind of car should have a ~$10k discount off MSRP to be a good deal.
- Base money factor should be .00152 on the 2017s. Make sure they give you the base money factor.
- How much do you get dinged on the residual for an extra 3200 miles? 1% lower than the standard 57% 2017 residual?

I ran some rough numbers on leasehackr using $43k as selling price (what you should be pushing for), .00152 as money factor (what you should be pushing for), and 56% as the residual (assumption). Using $500 for doc fees, and a 6.875% sales tax, it came up with a $542/month payment including tax. This is on a true 0 down lease with all fees rolled into the lease, so $0 due on drive-off.

Obviously the above is a rough estimate, but ~$550/month including tax with $0 due on drive-off should be attainable for that car.
I replied with your help and information and this is the response I got...
"I'm giving you over $11,000 discount,
Residual is .52%
Money factor is .00152
You have to add taxes, bank fee, doc fee, DMV.
As you can see I'm giving you a great deal."
-Open Road BMW.
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      10-17-2017, 03:15 PM   #14
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Quote:
Originally Posted by jamoka3 View Post
I replied with your help and information and this is the response I got...
"I'm giving you over $11,000 discount,
Residual is .52%
Money factor is .00152
You have to add taxes, bank fee, doc fee, DMV.
As you can see I'm giving you a great deal."
-Open Road BMW.
I would love an explanation of why residual is only 52% for a 36 mo/10k per year lease when new 2017s have the residuals at 57% on the same lease terms. I can see a 1 point residual difference for adding on 3,200 miles, but 5 points is crazy. In that case it would make more sense to do a 36 month/12k per year lease, which has a 56% residual and not have the extra miles added on. Not sure there is such an option though.

If they start moving in the right direction and are close, ask them for a full breakdown, including all fees involved, and post back here. If they won't budge, I would not waste any more time and just walk away. If they want to make the sale, they will call you back in a couple of days.
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      10-17-2017, 03:18 PM   #15
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Quote:
Originally Posted by CAMOETO View Post
I would love an explanation of why residual is only 52% for a 36 mo/10k per year lease when new 2017s have the residuals at 57% on the same lease terms. I can see a 1 point residual difference for adding on 3,200 miles, but 5 points is crazy. In that case it would make more sense to do a 36 month/12k per year lease, which has a 56% residual and not have the extra miles added on. Not sure there is such an option though.

If they start moving in the right direction and are close, ask them for a full breakdown, including all fees involved, and post back here. If they won't budge, I would not waste any more time and just walk away. If they want to make the sale, they will call you back in a couple of days.
I really appreciate your help with all this. I also have a 2018 2SS Camaro deal going on, I talked them down to $550 a month with $0 due at inception. Not sure if that's a better move if so I can always go to Chevy..lol
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      10-17-2017, 04:10 PM   #16
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Quote:
Originally Posted by jamoka3 View Post
I really appreciate your help with all this. I also have a 2018 2SS Camaro deal going on, I talked them down to $550 a month with $0 due at inception. Not sure if that's a better move if so I can always go to Chevy..lol
Well, do you want a daily driver? I used to have a 2013 2SS Camaro, and that car was definitely harder to live with on a daily basis than the M240i. I know the new one is more refined, but it has even less space in the back and still has the visibility of a cave on wheels.
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      10-17-2017, 04:42 PM   #17
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Kinda more of a nice weather/ weekend car I have a 2016 Chevy Silverado Z71 that's my "work Truck" so i have a few cars. That's the other reason Chevy has deals for me, loyalty customer rebate etc.
Im not giving up on pressuring Open Road BMW for that m240 above ,but If the 2018 Camaro is a overall better deal then im torn...
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      10-23-2017, 01:04 PM   #18
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Quote:
Originally Posted by jamoka3 View Post
I would love to not put any cash down, and i have no idea how a Multiple Security Deposit works so...?
My credit is excellent , (Ie: over 825) debt to income is great as well. I will qualify with no issue.
MSD program is gone, so you won't have to worry about that. What's the MSRP and sell price of the car?

To put it in perspective, I have a similar car minus cold weather and xdrive but with leather. I pay $590/month with $0 down, 12k miles. Granted I got in when residuals were better, but I imagine this is really close to the price of a brand new car.
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      10-23-2017, 07:57 PM   #19
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I registered just to post, please avoid Prestige and Park Ave at all costs. I have been to just about every BMW in the tri state area (I've helped friends and family buy cars) and those two dealers are just so unpleasant or trying to upsell you always.

I guess it could be because of the Mini headquarters so close by or something odd, but the one executive I occasionally see at the local deli always recommended Orange County BMW in Harriman NY (he also said he could be horribly miss informed, as he always had a new BMW fleet loaner thing). But my experience tended to jive with what he said, so be careful if you're going there.
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