Hi all. I am new to the board and looking to lease a 530i with sport package and auto trans in the next few weeks. I am new to leasing and was hoping someone could shed some light on what I need to know when I go to the dealer and sit down to strike up a deal. Also does anyone have any suggestions on the best dealer in Houston, TX to go to. Any help and info on what I need to do to get the best deal and monthly price possible is greatly appreciated.
Thanks in advance.
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Quote: Hi all. I am new to the board and looking to lease a 530i with sport package and auto trans in the next few weeks. I am new to leasing and was hoping someone could shed some light on what I need to know when I go to the dealer and sit down to strike up a deal. Also does anyone have any suggestions on the best dealer in Houston, TX to go to. Any help and info on what I need to do to get the best deal and monthly price possible is greatly appreciated.
Thanks in advance. | read some threads after doing a serach for leasing. after that specific questions you are still fuzzy on you can post.
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I would recommend the following:
1) check Bimmerfest dealer feedback forum. There are probably several threads there about Houston dealers. Don't limit yourself to one. Go to at least 2 and let them know you are getting competitive bids. Also get an online offer from a local or national dealer like Nalley. Don't be afraid to tell the dealers you have a better deal. Some preference should be given to your local dealer as you will probably want to get your car serviced there and you want to get perks like free loaner cars and valet service that you may not get if you buy from a different dealer.
2) Edmunds.com has excellent information on understanding leases and comparing lease deals. It gives a good picture of what the going rates are for leases on specific models. It has a lease calculator and very knowlegable people who post regularly.
3) Do not pay a lot of cash down on a lease. If your car gets totaled, you won't get it back. Use multiple security deposits instead (you get them back and it lowers the money factor)
4) Consider European Delivery or Performance center delivery. They are a lot of fun. ED offers a trip to Europe, a lower price on your car and a great memory.
Have fun!
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Lots of experts on here and the stickies should walk you through the process. I leased a 530i two days ago in Memphis and the forums really helped. You should be able to get a couple thousand discount off the list price for starters. The incentive lease rate for 36 months is .0005 which is an APR of 1.2%. The residuals are real strong so your monthly payment should be very reasonable, BMW has an advertised rate of $489 per month for 36 months. However at that low APR I would not put any cap reduction money into the deal.
Good Luck
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Thanks for the responses!
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530i lease questions