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2014 BMW X5 Lease Questions

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  • mg1973mg1973 Posts: 6

    I know I keep giving this dealer a chance and this is what I keep getting. I am in texas. Apparently they are saying that BMW have tax credits which they can use to offset the sales tax. I dont have specifics but I will ask the next dealer and get back to you. Thanks again

  • kyfdxkyfdx Posts: 27,923

    @mg1973 said: I know I keep giving this dealer a chance and this is what I keep getting. I am in texas. Apparently they are saying that BMW have tax credits which they can use to offset the sales tax. I dont have specifics but I will ask the next dealer and get back to you. Thanks again

    I've heard of Texas tax credits.. Here is what I think they are doing: To use the tax credits, they have to charge you the standard money factor, which is probably .00215, then give you a credit for the PrePay, which lowers the money factor back to .00135. The standard money factor might be less than that, though... they could be marking it up, before giving you credit for the PrePay reduction. I mean.. this is better than just paying .00130, and not saving the $5200 in tax.. but, wow, are they making a killing on this deal.

    What is your pre-pay amount? $40K?

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  • mg1973mg1973 Posts: 6

    yes the total amount including acquisition fee of 975 is 40,000. And they state that they can get this by the end of april when the other dealers I have spoken to say custom build orders will take at least 2 possible 3months. Starting to sound super fishy, ready to walk away. anynumbers I should go back to them with if I am getting the tax credit and they can guarantee that they can get the car by the end of april? Thanks

  • habsonehabsone Posts: 38

    @mg1973 said: yes the total amount including acquisition fee of 975 is 40,000. And they state that they can get this by the end of april when the other dealers I have spoken to say custom build orders will take at least 2 possible 3months. Starting to sound super fishy, ready to walk away. anynumbers I should go back to them with if I am getting the tax credit and they can guarantee that they can get the car by the end of april? Thanks

  • feliksnyfeliksny Posts: 11

    Hi Car Man,

    Would you be so kind as to provide April lease rates and residuals for 2014 X5 5.0 10k?

    Thank you!

  • MichaellMichaell ColoradoPosts: 3,636

    @feliksny said: Hi Car Man,

    Would you be so kind as to provide April lease rates and residuals for 2014 X5 5.0 10k?

    Thank you!

    What lease term were you looking for?

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  • feliksnyfeliksny Posts: 11
    edited April 7

    @feliksny said: Hi Car Man, Would you be so kind as to provide April lease rates and residuals for 2014 X5 5.0 10k?

    Thank you!

    @Michaell@Edmunds said: What lease term were you looking for?

    michaell@edmunds.com Moderator, Prices Paid and Leasing Experiences 2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2010 MINI Cooper

    36 months, I thought that was the only viable option for a decent monthly price.

  • kyfdxkyfdx Posts: 27,923

    @feliksny said: Hi Car Man,

    Would you be so kind as to provide April lease rates and residuals for 2014 X5 5.0 10k? 36 months

    Thank you!

    .00130 MF and 60% residual

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  • senoromarsenoromar Posts: 3

    Hey Car Man,

    Do you have this month's rates and residuals for a 2014 X5 xDrive 35i, 12K/yr, 36mo?

    Thank you in advance.

  • kyfdxkyfdx Posts: 27,923

    @senoromar said: Hey Car Man,

    Do you have this month's rates and residuals for a 2014 X5 xDrive 35i, 12K/yr, 36mo?

    Thank you in advance.

    .00130 MF and 59% residual

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  • vonnshannonvonnshannon Posts: 2

    Kyfdx, 2014 X5 5.0 Any change for 30/36 months/12K/yr or still 62%/59% and .00130 ? Thanks!

  • MichaellMichaell ColoradoPosts: 3,636

    @vonnshannon said: Kyfdx, 2014 X5 5.0 Any change for 30/36 months/12K/yr or still 62%/59% and .00130 ? Thanks!

    MF and residual are still the same for April.

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  • dynamic323dynamic323 Posts: 4

    Can you kindly please (ASAP) let me know if this is a good deal? X5 sDrive35i Space Gray Metallic Luxury Line Premium Package 20 inch 451 style wheels Lighting Package Rear view camera

    837/month, 0 down (just first month and fees), 36 months, 10k miles.

  • MichaellMichaell ColoradoPosts: 3,636

    @dynamic323 said: Can you kindly please (ASAP) let me know if this is a good deal? X5 sDrive35i Space Gray Metallic Luxury Line Premium Package 20 inch 451 style wheels Lighting Package Rear view camera

    837/month, 0 down (just first month and fees), 36 months, 10k miles.

    We would need both the MSRP and the selling price....

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  • dynamic323dynamic323 Posts: 4

    suggested selling price is 61,925.00 msrp is 61k

  • MichaellMichaell ColoradoPosts: 3,636

    @dynamic323 said: suggested selling price is 61,925.00 msrp is 61k

    Using the base money factor of .00130 and the residual of 60%, I get a pre-tax payment of $790. Does your $837/mo include tax? Can you put money down for multiple security deposits to reduce the payment?

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  • aliberry11aliberry11 Posts: 3

    Can you tell me how much doing 7 MSDs will reduce the money factor?

    I am looking at a X5 xDrive35i MSRP: $62,800 + $925 total adds (don't know what this is for) Selling Price: Got them down to $61,725 MF without MSD's 0.00130 Residual 60% 36 months, 15K miles, $1,100 due at signing, $845/mth

  • marc68marc68 Posts: 27
    I think residual for 15k is 57 and not 60.
  • MichaellMichaell ColoradoPosts: 3,636

    @aliberry11 said: Can you tell me how much doing 7 MSDs will reduce the money factor?

    I am looking at a X5 xDrive35i MSRP: $62,800 + $925 total adds (don't know what this is for) Selling Price: Got them down to $61,725 MF without MSD's 0.00130 Residual 60% 36 months, 15K miles, $1,100 due at signing, $845/mth

    Each security deposit reduces the MF by .00007, so 7 would result in a total reduction of .00049, making the final MF .00081.

    The good news is that your dealer isn't marking up the MF from the base rate of .00130; however, they are padding the acquisition fee by $200 to $925.

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  • dynamic323dynamic323 Posts: 4

    yes, that is WITH tax.

  • MichaellMichaell ColoradoPosts: 3,636

    @dynamic323 said: yes, that is WITH tax.

    OK. Your quote of $837/mo with tax seems reasonable. You can still work to reduce the payment by making multiple security deposits to lower the money factor.

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  • dynamic323dynamic323 Posts: 4

    what are multiple security deposits? you mean down payment?

  • MichaellMichaell ColoradoPosts: 3,636

    @dynamic323 said: what are multiple security deposits? you mean down payment?

    No. A security deposit in a lease is the amount of the monthly payment, rounded up to the nearest $25 or $50. It is often used to reduce the amount of the money factor. Some manufacturers allow multiple security deposits to substantially reduce the MF. This has the effect of reducing the monthly payment.

    Unlike a down payment, you get the security deposit(s) back a the end of the lease.

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  • darksilkxdarksilkx Posts: 11

    @kyfdx@Edmunds said: Really... you just have to shop more dealers. Most dealers mark up the money factor, but perserverance will eventually pay off. The new X5 is popular, but I wouldn't really bother trying to bargain with a dealer that is giving me $700 off MSRP, then making back $2000 extra on the financing. You might as well just hit yourself in the head with a hammer.

    True words, Initially considered this for my wife's GL replacement but ended up going with an ML diesel. I like the new X5 but not enough to pay MSRP for it. I'm on my second BMW in the last 5 years and I'm yet to pay more than $750 over invoice for one. Not about to start now. Of course if you don't have the flexibility to wait out the initial rush that becomes a problem.

  • aliberry11aliberry11 Posts: 3
    The dealer called back and said they screwed up on the residual. They told me 60% originally but then called me back today and said that is for 10k miles and that 15k miles is 57% residual. Is this correct?
  • kyfdxkyfdx Posts: 27,923

    @aliberry11 said: The dealer called back and said they screwed up on the residual. They told me 60% originally but then called me back today and said that is for 10k miles and that 15k miles is 57% residual. Is this correct?

    Yes.. 57% for 36mo, 15K/yr... 60% for 36mo, 10K/yr.

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  • stunyccpastunyccpa Posts: 42

    @aliberry11 said: Can you tell me how much doing 7 MSDs will reduce the money factor?

    I am looking at a X5 xDrive35i MSRP: $62,800 + $925 total adds (don't know what this is for) Selling Price: Got them down to $61,725 MF without MSD's 0.00130 Residual 60% 36 months, 15K miles, $1,100 due at signing, $845/mth

    I'm not overly familiar with pricing on this model. Is it difficult to negotiate sales price on an X5? Is it common to pay at or around MSRP with options?

  • peterx6peterx6 Posts: 2

    Hi car man...... Would you be so kind as to provide The May lease rates and residuals for 2014 X5 5.0 10k? 36 months ...... If available yet

            Thanks PeterX6
    
  • peterx6peterx6 Posts: 2

    Also are there any promotion or pullback incentives for the x5 5.0 10yr/36 month ....... And how much should be expected for lease loyalty program

    Thanks again

  • MichaellMichaell ColoradoPosts: 3,636

    @peterx6 said: Hi car man...... Would you be so kind as to provide The May lease rates and residuals for 2014 X5 5.0 10k? 36 months ...... If available yet Also are there any promotion or pullback incentives for the x5 5.0 10yr/36 month ....... And how much should be expected for lease loyalty program Thanks PeterX6

    .00130 and 60%. BMW has a 'pull ahead program' in effect - if your lease is up between July and December, BMW will cover up to 6 lease payments if you lease another BMW.

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