Trying to get the best lease deal from BMW 2017 x3 28i
As per the title, I'm trying to get the best lease deal on a BMW X3 series and I need some advice/insight. I have done a little research on how to get the best lease deal before posting here and contacting BMW dealers in the GTA because I didn't want to go in blindly (wanted to have as much knowledge as possible so I get the best deal).
Please bear with me and the relatively lengthy post because I am trying my best to write this while understanding all the terminology and how the leasing a car works.
Here are some points I gathered that would help me in getting the best deal (in no particular order):
- Don't tell the dealer whether I am leasing or financing yet
- Try to find the invoice price from website like unhaggle (which I did)
- In order to get the best leasing price, I want to get the purchase price as close to the invoice price
- Want to get a low interest rate (money factor) and as much incentives/rebates as possible.
So one of the dealers contacted me, and he found me an X3 that fit what I wanted in terms of color and optional packages. He let me know the MSRP of the car is close to $57000 and asked me if I was interested. I said yes, but wanted to discuss what is the lowest purchase price before we take it further. After chatting a bit, he said he can do discount 10% of the MSRP ($5000) and if I came in he could reduce it further. I said yes, I would go in to see the dealer. He said the car is in the store and that they are getting rid of 2017 models - it seemed like he wanted to try get rid of the car from their dealership. I know that BMW is having a private sale event this weekend and the minimum $5000 discount offered includes the $3500 event credit that is being promoted. (So I am only getting $1500 extra discount on top of the $3500 event credit).
My question is, have I got off on the right foot? Is this a good starting point assuming if I go in and he offers even further discounts?
I plan to discuss with him other factors such as mileage (we only need 12K per year) and that we are going to lease the car instead of finance.