How to Find the Best Lease Deals for a BMW
If you’re thinking about leasing a BMW vehicle, then it’s time to start doing your research. With the holiday season in full swing, dealers are preparing for their new stock of inventory. Now is the time for them to start moving out their old inventory to prepare for the new arrivals. The best deals take time and effort to find. We’ve composed a short guide to give you pointers about how to find the best lease deals on a BMW.
What you need to know about BMW lease deals
According to US News, Manufacturers originate the lease deals handed down through dealerships. These are incentives to draw the interest of customers to come in and check out the inventory of vehicles. In most cases, manufacturers create new offers monthly.
What kinds of offers exist?
The Manufacturers often change up the kinds of deals offered on late-model vehicles from their stock, but there are generally several different kinds of offers on the table. These come in the form of special financing, cashback, and a variety of lease offers for a particular month. One of the most recent additions to the specials includes shopping from home. You can now complete lease deals from the comfort of your home by telephone and online. You can opt to have BMW vehicles dropped off at your home. You don’t even need to go to the dealership if you don’t want to. They’ll send the paperwork along with the car.
Not all deals are available from all dealers
Deals that are offered by BMW may vary from one state to another. The offers made are samples from the manufacturer. Their availability depends on where you live. These deals that are on the table are certain regions. To learn more about which deals you can get near you, you may contact your local BMW dealer to get the details and find out more about qualifications for the deals.
Examples of BMW Lease Deals
BMW tends to offer special lease deals on certain vehicles from its stock on hand at local dealerships. When you go to your local dealer’s online page, you’ll have the option to put in your zip code. The information you provide brings up all the BMW vehicles that are available for lease through the local dealer. You’ll find a selection of cars that include 2020 and 2021 models, the Series numbers, and a description of the car with the monthly cost for the lease. For example, one dealer lists a 2020 BMW 2-Series for $329 per month. Monthly lease prices can range from $289 per month up to $1199 per month depending on the year, model, and MSRP of the vehicle. Lease deals come in a broad range. It pays to compare them on the specific BMW vehicle you desire.
How are lease deal rates calculated?
According to Edmunds, the dealership advertises the lease deals that are offered by BMW on their online webpage. The site provides a list of the vehicles for lease. Most include specifics about the offers made by the manufacturer. They also give you online tools that give you details on the terms of the deal so you can learn in advance what the total monthly payment will be, along with the length or duration of the contract. In some cases, you can opt to purchase the vehicle that you lease or to return it to the dealership with no further obligation after the term of the lease expires. The lease terms are fully transparent and provided in writing so you can be sure that there won’t be any hidden fees or other charges. Help is available to walk you through the online paperwork if you opt not to appear in person at the dealership to complete the process.
Is all BMW’s monthly lease deals the same?
BMW offers deals on specific vehicles, but these may vary from one location to the other. In general, the terms of the lease may include rates that apply to the estimated number of miles you plan to drive. Low-mileage drivers may receive lower rates than those who drive longer distances on average. Some BMW dealerships may offer discounts that are similar to the manufacturer from the available stock that they have on hand.
Does it matter which dealership you go through?
Some dealerships offer deals that look better than others. It’s wise to compare them all because some dealers do not include additional fees in their advertising, which may include tax, licensing, and other charges. It’s up to you as a consumer to read the fine print and make sure that you understand precisely what these charges are before you enter into a contractual agreement to lease a new BMW.
How does credit rating affect a BMW lease deal?
Advantage BMW recommends that you find out what your current credit rating score is. The range for a credit score is 300 to 850. A BMW dealership can help you obtain your credit report. Anything under 620 is subprime and won’t help you in a lease deal. A credit score of at least 700 is a requirement for leasing a BMW vehicle. The higher your credit score, the better the deal you qualify to receive. Some dealerships work with clients with low credit scores, but not all have these programs available. You must have a stable income with proof of a consistent income through paystubs or other documents that verify you can make the monthly lease payments.
Final thoughts
There is no magic formula provided for BMW leasing. The company makes monthly offers on selected vehicles. Some deals are better than others. It’s best to keep a tab on the offers that are provided within a reasonable radius of your location to compare them. Check out the deals through local dealerships. By comparing the terms of the contract and the total monthly payment amount, you can find the best deals on a new BMW offered in your area.
