The completely redesigned BMW 7-Series already has a big discount for returning customers. According to a bulletin sent to dealers, most versions of the 2023 7-Series sedan now offer a $3,000 loyalty discount when buying or leasing. Here's what you need to know about the new BMW 7-Series loyalty discount.
The $3,000 BMW 7-Series discount is available when buying or leasing for current owners of any BMW car or SUV. Based on our analysis, this is the biggest loyalty discount on any BMW model. To put that into perspective, the 2023 BMW 5-Series has a $1,500 loyalty discount for leasing and only $750 when buying.
Having said that, there are a few catches. First, the all-electric BMW i7 is excluded from the deal. Second, if you're buying your new 740i or 760i, you'll need to take out a loan through BMW Financial Services to get the deal. Still, we think this could be a good opportunity for luxury sedan lovers to score a solid discount.
It's important to note that BMW's advertised 7-Series lease prices don't include the $3,000 discount. While the 7-Series has never been a great car to lease based on our records, the $3,000 incentive could make a big difference. Here in California, 740i leases start at $1,309 for 36 months with $7,229 due at signing.
Be sure to read the fine print on your lease. Lease prices here in Los Angeles are based on a driving allowance of just 7,500 miles per year. It's likely that this is the case so that BMW can take advantage of the higher residual value of the lower-mileage lease to offer the best price possible. If you drive a lot, expect to pay more.
Not seeing the BMW you want in stock? Shoppers should be aware that we're already seeing 2024 BMW deals start to emerge. If you're looking to make the leap to an electric car, it's also worth knowing that BMW has hidden EV deals. These factors could help ensure you get a better deal ahead of Memorial Day this year.