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.
As always, I recommend using TrueCar No Haggle and CarsDirect to see the lowest prices your local dealers are willing to offer.
3 Steps Every Car Buyer Needs to Take to Save Maximum Money
The key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:Step 1 Get Prices From My Trusted Network
Select the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).Step 2 Get Prices From TrueCar / CarsDirect
TrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.Step 3 Complete my Checklist
Follow this up with my checklist to make sure you squeeze out every last bit of savings.- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid
About The Author
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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