BMW Lease Discount Ends Soon
If you have good credit and are thinking about leasing a BMW, you may want to do it this month to take advantage of BMW's multiple security deposit (MSD) discount while it's still available - BMW is ending the discount starting May 1st.
The MSD discount is an "interest rate reduction" given to those who put down multiple security deposits on their lease (which is fully refundable). BMW allows you to stack 7 security deposits into the down payment, reducing your interest rate by up to 1.3% - which translates into savings of around $50 per month in some cases, or close to $2,000 on a 36 month lease.
I got tipped off to this on the Bimmerfest.com forums, I urge you to check out the post for more info. Note that NY residents have never been allowed to take advantage of the MSD discount, although I read you can get around this by leasing the vehicle from a NJ dealership.
P.S. - If you're going to lease a BMW, you should also take advantage of a little-known AARP incentive that can get you additional discounts of up to $5,000 - (you can be any age to become an AARP member). See this post for more info.
My Recommendation for Car ShoppersTrueCar, Edmunds, and 1-800 Car Show are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
California Residents - Important:There is a new online car buying service called Roadster, available only to California residents, which I highly recommend you try - especially if you hate the stress of haggling with a car salesman. They provide an expert concierge who negotiates the price of the car and delivers it to your home with zero hassle - you never have to interact with a dealership. Here is my in-depth review of Roadster and why I recommend it.
- Gregg Fidan
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About: Gregg Fidan
Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
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