2016 BMW X5 Lease Questions

montepora2012

Michaell,

So here is the quote with all info.

MSRP $69,170
Sales Price $59,998
Residual at 12K p/year $39,462
MF 0.00132
net cap cost $63,309.

$798 X 36 @ 12,000 miles per year with all NJ tax, reg, acquisition fees, etc....rolled into the monthly payment. Due at sign only first payment.

Would love to know if deal is solid. I am currently waiting for 2 additional quotes inbound; will post them here once I receive them.

Thanks.

kyfdx

montepora2012 said:

Michaell,

So here is the quote with all info.

MSRP $69,170
Sales Price $59,998
Residual at 12K p/year $39,462
MF 0.00132
net cap cost $63,309.

$798 X 36 @ 12,000 miles per year with all NJ tax, reg, acquisition fees, etc....rolled into the monthly payment. Due at sign only first payment.

Would love to know if deal is solid. I am currently waiting for 2 additional quotes inbound; will post them here once I receive them.

Thanks.

Calculations are exact. If the $3300 added in the CAP cost is all for legitimate items, then that looks like a great deal.

montepora2012

kyfdx said:

montepora2012 said:

Michaell,

So here is the quote with all info.

MSRP $69,170
Sales Price $59,998
Residual at 12K p/year $39,462
MF 0.00132
net cap cost $63,309.

$798 X 36 @ 12,000 miles per year with all NJ tax, reg, acquisition fees, etc....rolled into the monthly payment. Due at sign only first payment.

Would love to know if deal is solid. I am currently waiting for 2 additional quotes inbound; will post them here once I receive them.

Thanks.

Calculations are exact. If the $3300 added in the CAP cost is all for legitimate items, then that looks like a great deal.

+


Thank you. I asked the rep to itemized $3300 but he is OOO. He did tell me that they were for tax, registration, acquisition fee and supplemental title fee,

In your opinion, do I have room to push it slightly?

Michaell

montepora2012 said:

kyfdx said:

montepora2012 said:

Michaell,

So here is the quote with all info.

MSRP $69,170
Sales Price $59,998
Residual at 12K p/year $39,462
MF 0.00132
net cap cost $63,309.

$798 X 36 @ 12,000 miles per year with all NJ tax, reg, acquisition fees, etc....rolled into the monthly payment. Due at sign only first payment.

Would love to know if deal is solid. I am currently waiting for 2 additional quotes inbound; will post them here once I receive them.

Thanks.

Calculations are exact. If the $3300 added in the CAP cost is all for legitimate items, then that looks like a great deal.

+


Thank you. I asked the rep to itemized $3300 but he is OOO. He did tell me that they were for tax, registration, acquisition fee and supplemental title fee,

In your opinion, do I have room to push it slightly?

Push what? All of those charges are legit.

montepora2012

Was thinking if there is room to negotiate on the selling price to get the monthly down slightly.

Michaell

montepora2012 said:

Was thinking if there is room to negotiate on the selling price to get the monthly down slightly.

For BMW, 5-7% off sticker before incentives is a good target. I believe you're well beyond that level of discounting, so not sure how much more there is to trim.

montepora2012

Thanks Michaell.

alexkoper

Hello, I ordered a x5E for my wife. We placed the order in December and I got qualified through BMWFS then. They told me I could get the better of those offers or when it's delivered. I'm an existing x5 customer and existing BMwFS customer. Back when we ordered, dealer promised me $3500 under invoice plus buy rate on MF. I know there are several promos that have come since. I'm either going to do a 24 or 36 month lease at 15k miles. Any suggestions on whether I should take advantage of the December promo or any of the new promos? Any thoughts on what's better between 24 and 36 months? I usually do 24 but pay more. I appreciate any guidance. We are supposed to take delivery over the weekend. Very excited, I'd like to work this all out before i go in and sign.

Michaell

alexkoper said:

Hello, I ordered a x5E for my wife. We placed the order in December and I got qualified through BMWFS then. They told me I could get the better of those offers or when it's delivered. I'm an existing x5 customer and existing BMwFS customer. Back when we ordered, dealer promised me $3500 under invoice plus buy rate on MF. I know there are several promos that have come since. I'm either going to do a 24 or 36 month lease at 15k miles. Any suggestions on whether I should take advantage of the December promo or any of the new promos? Any thoughts on what's better between 24 and 36 months? I usually do 24 but pay more. I appreciate any guidance. We are supposed to take delivery over the weekend. Very excited, I'd like to work this all out before i go in and sign.

This is the X5 xDrive 40e?

.00132 and 53% for 36/15; 59% for 24/15. $1500 option allowance, $1500 SAV Winter Adder and $3000 lease credit.

I don't have the December numbers to compare against, sorry, though I think the incentives have gone up since then.

My guess is that their quote of $3500 back of invoice already factors in the incentives I listed above, but you will probably want to confirm that.

deenx

Michaell said:

montepora2012 said:

Was thinking if there is room to negotiate on the selling price to get the monthly down slightly.

For BMW, 5-7% off sticker before incentives is a good target. I believe you're well beyond that level of discounting, so not sure how much more there is to trim.

To be clear.... when I go to the dealer.... I should shoot for 5-7% off MSRP for the dealer's selling price, then ask him to apply the BMW incentives, in this case $3000. So... let's say it's a $65,000 X5. 6% discount to MSRP is $61,100. The, apply the $3000 and the cap cost should be $58,100. If that's the case.... every single dealer I've been to lately is really trying to pull one over on me.

Michaell

deenx said:

Michaell said:

montepora2012 said:

Was thinking if there is room to negotiate on the selling price to get the monthly down slightly.

For BMW, 5-7% off sticker before incentives is a good target. I believe you're well beyond that level of discounting, so not sure how much more there is to trim.

To be clear.... when I go to the dealer.... I should shoot for 5-7% off MSRP for the dealer's selling price, then ask him to apply the BMW incentives, in this case $3000. So... let's say it's a $65,000 X5. 6% discount to MSRP is $61,100. The, apply the $3000 and the cap cost should be $58,100. If that's the case.... every single dealer I've been to lately is really trying to pull one over on me.

Might have to widen your search of dealers .. it only takes one to make a deal on your terms.

The $3000 of incentives are factory to dealer - the dealer can choose to pass them along to the customer. Or not.

kyfdx

deenx said:

Michaell said:

montepora2012 said:

Was thinking if there is room to negotiate on the selling price to get the monthly down slightly.

For BMW, 5-7% off sticker before incentives is a good target. I believe you're well beyond that level of discounting, so not sure how much more there is to trim.

To be clear.... when I go to the dealer.... I should shoot for 5-7% off MSRP for the dealer's selling price, then ask him to apply the BMW incentives, in this case $3000. So... let's say it's a $65,000 X5. 6% discount to MSRP is $61,100. The, apply the $3000 and the cap cost should be $58,100. If that's the case.... every single dealer I've been to lately is really trying to pull one over on me.

It's their job to maximize the profit in a deal.

deenx

Of course... but it's also their job to assure customer retention. And I guess I expect something different from the BMW experience that distinguishes it from a Chevy dealer. If BMW continues to treat its customers as boobs, they will pay in the end.

Michaell

deenx said:

Of course... but it's also their job to assure customer retention. And I guess I expect something different from the BMW experience that distinguishes it from a Chevy dealer. If BMW continues to treat its customers as boobs, they will pay in the end.

BMW is selling more cars than ever, so I suspect that whatever the dealers are doing, it's working.

Not that I'm arguing your point - you should get premium treatment with a premium label.

But, in the end, the dealers have to keep the doors open.

deenx

true.... but to think this pace of car sales is going to continue... especially one fueled on subprime debt.. is silly.

Michaell

deenx said:

true.... but to think this pace of car sales is going to continue... especially one fueled on subprime debt.. is silly.

No argument from me on that point ... 17M sales per year isn't sustainable

montepora2012

Michaell said:

montepora2012 said:

Was thinking if there is room to negotiate on the selling price to get the monthly down slightly.

For BMW, 5-7% off sticker before incentives is a good target. I believe you're well beyond that level of discounting, so not sure how much more there is to trim.

Michaell,

One last quote before finalizing. Please advise.

MSRP: $62620
Selling @ $53695
36/12K residual: $35693
MF 0.00132
I asked tax and fee ($3300) be rolled into cap cost so out of pocket is first month payment.

Lease 36/12K is $725.

Michaell

montepora2012 said:

Michaell said:

montepora2012 said:

Was thinking if there is room to negotiate on the selling price to get the monthly down slightly.

For BMW, 5-7% off sticker before incentives is a good target. I believe you're well beyond that level of discounting, so not sure how much more there is to trim.

Michaell,

One last quote before finalizing. Please advise.

MSRP: $62620
Selling @ $53695
36/12K residual: $35693
MF 0.00132
I asked tax and fee ($3300) be rolled into cap cost so out of pocket is first month payment.

Lease 36/12K is $725.

I get $714/mo if I use $56,995 as the net cap cost

deenx

Is it standard to have the Acquisition Fee added to the selling price to get the Cap Cost? Let me ask this another way.... should the selling price of the car have the acquisition fee in it?

Michaell

deenx said:

Is it standard to have the Acquisition Fee added to the selling price to get the Cap Cost? Let me ask this another way.... should the selling price of the car have the acquisition fee in it?

It is your choice to pay the acquisition fee as part of your inception costs, or roll it into the cap cost.

We'd recommend rolling it in to minimize those up front costs.

montepora2012

Michaell said:

montepora2012 said:

Michaell said:

montepora2012 said:

Was thinking if there is room to negotiate on the selling price to get the monthly down slightly.

For BMW, 5-7% off sticker before incentives is a good target. I believe you're well beyond that level of discounting, so not sure how much more there is to trim.

Michaell,

One last quote before finalizing. Please advise.

MSRP: $62620
Selling @ $53695
36/12K residual: $35693
MF 0.00132
I asked tax and fee ($3300) be rolled into cap cost so out of pocket is first month payment.

Lease 36/12K is $725.

I get $714/mo if I use $56,995 as the net cap cost

Much appreciated.

Tomas

Any updates for March? Specifically concerning: 2016 x5 35ixdrive 36/12k. 3k incentives still in place? Much appreciated.

xmjx

Looking for money factor, residual and incentive information on a 2016 X5 35ixdrive for 36 months, 10K miles per year. Thanks.

skibird

Also looking for an update for the X5M for 10k/36 mo. BMWUSA.com seems to have a $2k incentive now instead of $1,500 and $1,500 last month.

Michaell

Tomas said:

Any updates for March? Specifically concerning: 2016 x5 35ixdrive 36/12k. 3k incentives still in place? Much appreciated.

.00135 and 57%. $2000 lease credit.

Michaell

xmjx said:

Looking for money factor, residual and incentive information on a 2016 X5 35ixdrive for 36 months, 10K miles per year. Thanks.

.00135 and 58%. $2000 lease credit

Michaell

skibird said:

Also looking for an update for the X5M for 10k/36 mo. BMWUSA.com seems to have a $2k incentive now instead of $1,500 and $1,500 last month.

.00135 and 58%. $2000 lease credit.

ponytrekker

Hi kyfdx . Do you have the residual for 36 15k? Thanks.

Michaell

ponytrekker said:

Do you have the residual for 36 15k? Thanks.

55%

silverbuck1

So, I'm close to a deal on a new X5 35i . However, I believe the dealer has overstated the sales tax by about $400. FYI, I'm in IL.

In trying to resolve this, the finance manager tells me that his number is 100% correct but he does not know how it has been calculated. He said it just spits out of the software program and he can't provide any calculation details.

I'm not going to do the deal unless I find out I'm wrong, see the details of the calculation or they reduce some other cost by the $400.

What do you all think about this?

silverbuck1

BTW, the prior post concerns a lease. IL changed their car lease sales tax law starting in 2015. Taxes are supposed to be assessed on the aggregate value of any amounts paid at signing plus the total of the monthly lease payments. I believe this is just like most every other state in the country.

Seems absurd to me that a dealership finance manager can't explain a tax calculation.

The last time something like this happened, the dealership GM said he was incorrect and was going to have his software program and processes audited ASAP.

Michaell

zs

silverbuck1 said:

So, I'm close to a deal on a new X5 35i . However, I believe the dealer has overstated the sales tax by about $400. FYI, I'm in IL.

In trying to resolve this, the finance manager tells me that his number is 100% correct but he does not know how it has been calculated. He said it just spits out of the software program and he can't provide any calculation details.

I'm not going to do the deal unless I find out I'm wrong, see the details of the calculation or they reduce some other cost by the $400.

What do you all think about this?

silverbuck1 said:

BTW, the prior post concerns a lease. IL changed their car lease sales tax law starting in 2015. Taxes are supposed to be assessed on the aggregate value of any amounts paid at signing plus the total of the monthly lease payments. I believe this is just like most every other state in the country.

Seems absurd to me that a dealership finance manager can't explain a tax calculation.

The last time something like this happened, the dealership GM said he was incorrect and was going to have his software program and processes audited ASAP.

Yes, the tax laws for a lease changed in IL as of 1/1/15. Now tax is assessed against the sum of the payments - similar to NY, NJ and OH.

However, if you live in Cook County, there is another level of tax assessed as well, against the monthly payment. Makes the aggregate tax rate something like 17%, IIRC.

Most finance guys are former salesman - and rely 100% on the software the dealership uses to process contracts. If the software is wrong, I doubt that anybody at the dealer would know how to correct it. They'd simply log an issue with the software vendor.

silverbuck1

Thanks Michaell.

I'm outside of Cook county, so I don't have to deal with that issue. I think they have had some sort of incremental use tax or something.

I think you're spot on, regarding the dynamics with the finance guy. It is still astounding however. It doesn't seem too much to ask for a business to provide a clear breakdown of how each line item has been calculated. I can't really deal with "trust me" when it comes to finances. Especially when it's related to buying a car.

Michaell

silverbuck1 said:

Thanks Michaell.

I'm outside of Cook county, so I don't have to deal with that issue. I think they have had some sort of incremental use tax or something.

I think you're spot on, regarding the dynamics with the finance guy. It is still astounding however. It doesn't seem too much to ask for a business to provide a clear breakdown of how each line item has been calculated. I can't really deal with "trust me" when it comes to finances. Especially when it's related to buying a car.

Agreed. It's math, so no grey area exists.

But, in the world of IT, the maxim "Garbage in, garbage out" still applies.

Try contacting another dealer and see if you get a consistent answer.

APC33

I'm close on an X5 35D - does this deal look ok? I'm maxing the MSD and CA 9% tax.

MSRP $70,420
Selling Price $64,430
Cap Reduction $2000
CAp Red Tax $270.45
L&R $554
Bank Fee $925
Doc $80
1st PMT $812.38
Sec Dep $5,950
-------
Drive Off $10,591.83
Rebate <$2,000>
-------
Due at signing $8591.83

Thanks!

kyfdx

APC33 said:

I'm close on an X5 35D - does this deal look ok? I'm maxing the MSD and CA 9% tax.

MSRP $70,420
Selling Price $64,430
Cap Reduction $2000
CAp Red Tax $270.45
L&R $554
Bank Fee $925
Doc $80
1st PMT $812.38
Sec Dep $5,950
-------
Drive Off $10,591.83
Rebate <$2,000>
-------
Due at signing $8591.83

Thanks!

Term/mileage?

APC33

36/15
LOL - any I tried so hard to get all the info...

kyfdx

APC33 said:

36/15
LOL - any I tried so hard to get all the info...

.00135 MF and 55% residual. $2000 lease credit.

I calculate $745/mo.+tax.. That looks about right.

kps2107

Hi, can someone please give me the link for the discussion page for buying a 2016 x5? All I could manage was to find discussions on leasing. Thank you!

Michaell

kps2107 said:

Hi, can someone please give me the link for the discussion page for buying a 2016 x5? All I could manage was to find discussions on leasing. Thank you!

Answered in the other thread you posted in.

dhkhan

"Answered in the other thread you posted in."

Can you please give a link for the "other thread", thanks.

kyfdx

dhkhan said:

"Answered in the other thread you posted in."

Can you please give a link for the "other thread", thanks.



http://forums.edmunds.com/discussion/40009/bmw/x5/2016-bmw-x5-prices-paid?new=1

chrisch70

Do you have MF and RV for X5 xDrive 40e @ 36/15? Any other Incentives on this model available than the $5k lease credit, such as loyality credit?

What is the average discount one can negotiate off the MSRP for the X5 xdrive 40e? The 6% to 7% as mentioned in an earlier post? 

Thanks

chrisch70

Also, how much is each additional security deposit buying down the MF? Can you do MSD in Maryland?

sammy81

I'm looking to purchase 2016 35i xdrive. Besides 2000 lease credit, is there any other incentive such as royalty rebate?

kyfdx

chrisch70 said:

Do you have MF and RV for X5 xDrive 40e @ 36/15? Any other Incentives on this model available than the $5k lease credit, such as loyality credit?

What is the average discount one can negotiate off the MSRP for the X5 xdrive 40e? The 6% to 7% as mentioned in an earlier post? 

Thanks

.00135 MF and 53% residual. $5000 lease credit.

No clue on selling prices for this model.

kyfdx

chrisch70 said:

Also, how much is each additional security deposit buying down the MF? Can you do MSD in Maryland?

It's the payment, rounded up to the next $50 increment. Yes, MSD program is valid in MD.

kyfdx

sammy81 said:

I'm looking to purchase 2016 35i xdrive. Besides 2000 lease credit, is there any other incentive such as royalty rebate?

None that we are aware of.

newtown03

Hi, I'm looking to lease a new BMW 2016 x5 e40, here's what the dealer is quoting me, any help would be appreciated if I'm missing anything.

MSRP $81,070
discount $4500
tags $96
Processing $195
Rebate $5000
Balance $71,861

36 month 12,000 miles
$0 down
$1063 month payment, taxes are included
residual $44,588 @ 36 months
first months payment due at pickup

I asked them to add to this the $1000 BMW discount since I have a BMW already, they said they would.

Thank you

Michaell

newtown03 said:

Hi, I'm looking to lease a new BMW 2016 x5 e40, here's what the dealer is quoting me, any help would be appreciated if I'm missing anything.

MSRP $81,070
discount $4500
tags $96
Processing $195
Rebate $5000
Balance $71,861

36 month 12,000 miles
$0 down
$1063 month payment, taxes are included
residual $44,588 @ 36 months
first months payment due at pickup

I asked them to add to this the $1000 BMW discount since I have a BMW already, they said they would.

Thank you

I get $915/mo plus tax with those numbers, assuming the base MF of .00135 is used.

What state and tax rate is this?