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2016 BMW X1 Lease Questions

2456

Comments

  • MichaellMichaell Moderator Posts: 255,827
    tinodee said:

    Hi thanks for the reply. There was no price agreement - that was based on msrp. My assumption was that they would drop it to 41,175 to make my offer work. So assuming they did, is that a good deal? I think it is after some more research. It comes out to just around that if I use your MF and residual, and my down payment amt.

    I don't mind the risk of the down payment. This is the structure I prefer due to my spending habits and patience with managing a personal cash flow. Any benefit is lost for me on time. I have 6 cars and 20 employees - too busy! I just want to control payment amount and get lowest down payment possible at same time. I think the numbers I have are the best possible if they make the wiggle room. But another dealer is telling me residual is super low ( ~.51) and they will cut msrp to invoice, while the other is saying high (.59) residual but offers no discount on msrp (but I assume they will take 2K off the top). Sorry if this is confusing or redundant, but it's a lot to discuss in a small space.

    But back to my questions - I found a way better calc spreadsheet at carbuyingtips and have a clearer picture now. I also realized rolling fees into payments is more expensive due to interest.

    So thank you for helping me process this information!

    Final question - where and how do you get the official MF and Residual numbers? Is this official how? Is it just from somehow reverse engineering the monthly specials? Or is there some auto industry data site you can subscribe to? I'd rather have some official proof than just saying I read it online.

    You should be able to get a discount of 5-7% off the MSRP, before incentives.

    The information we have is both official and confidential. Simply tell the dealer that you won't sign a deal with an inflated MF - they know what the base rate is.

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  • marcthedarkmarcthedark Member Posts: 14
    Hi,

    I have two offers.
    1st one
    Net Total 44,400.00
    Destination Charge 995.00
    Total Suggested Price 45,395.00
    With MSRP of $45395, Our True car pricing offer will be $42000 12,000 miles a year / 36 months/ taxes and all fees up front comes out $3620 ( Taxes, first month payment, DMV, doc fee, bank fees ) $522 a month
    (NJ Taxes 7% and Dealer Doc fees $75 NY dealer)

    The second I have less figures. Car as above but without metallic > MSRP -550 = 44.485 and he writes
    With $3451 due at signing, you would be paying $499 a month. That $3451 is all of the sales tax as well as all of the inception fees (first month payment and motor vehicle included).

    Unfortunately that is the detail level I have (an earlier version of the 2nd offer had RV 59% and MF 0.00132 > which was as expected)

    To me the second offer looks better. While I lose on the metallic paint I have a slightly lower drive off and lower monthly payments (and the 2nd dealer is in NJ so I can do MSD if the math makes sense)

    Thanks!
  • MichaellMichaell Moderator Posts: 255,827

    Hi,

    I have two offers.
    1st one
    Net Total 44,400.00
    Destination Charge 995.00
    Total Suggested Price 45,395.00
    With MSRP of $45395, Our True car pricing offer will be $42000 12,000 miles a year / 36 months/ taxes and all fees up front comes out $3620 ( Taxes, first month payment, DMV, doc fee, bank fees ) $522 a month
    (NJ Taxes 7% and Dealer Doc fees $75 NY dealer)

    The second I have less figures. Car as above but without metallic > MSRP -550 = 44.485 and he writes
    With $3451 due at signing, you would be paying $499 a month. That $3451 is all of the sales tax as well as all of the inception fees (first month payment and motor vehicle included).

    Unfortunately that is the detail level I have (an earlier version of the 2nd offer had RV 59% and MF 0.00132 > which was as expected)

    To me the second offer looks better. While I lose on the metallic paint I have a slightly lower drive off and lower monthly payments (and the 2nd dealer is in NJ so I can do MSD if the math makes sense)

    Thanks!

    For deal #1, I get about $514/mo.

    I can't calculate a payment for deal #2 as I don't have both the MSRP and the net cap cost. Yes, if you are working with a NJ dealer you can use MSD.

    At this price point, I would get the exact car I want.

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  • marcthedarkmarcthedark Member Posts: 14
    Thanks. It is not so much about the exact car I want it is more finding a dealer who I want to work with (as both white and grey looked good)
  • marcthedarkmarcthedark Member Posts: 14
     MSRP 44.485 Cap Cost 41.5"2.15
    $3333 due at signing and 3500 MSD (7 month) you would be paying $465 a month with 0.00083 MF. That $3333 is all of the sales tax as well as all of the inception fees (first month payment and motor vehicle included). 

    Does es this sound like a good deal for NJ (and does is add up)?

    thanks so much for your efforts it is a big help
  • MichaellMichaell Moderator Posts: 255,827

     MSRP 44.485 Cap Cost 41.5"2.15
    $3333 due at signing and 3500 MSD (7 month) you would be paying $465 a month with 0.00083 MF. That $3333 is all of the sales tax as well as all of the inception fees (first month payment and motor vehicle included). 

    Does es this sound like a good deal for NJ (and does is add up)?

    thanks so much for your efforts it is a big help

    I get about $481/mo with those prices ... get the full breakdown of the $3333 in taxes and fees.

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  • marcthedarkmarcthedark Member Posts: 14
    Motor Vehicle-$310.50
    First month payment- $465.54
    Acquisition Fee- $925
    Dealer Document Fee-$369
    NJ State Sales Tax- $1263.74
  • MichaellMichaell Moderator Posts: 255,827

    Motor Vehicle-$310.50
    First month payment- $465.54
    Acquisition Fee- $925
    Dealer Document Fee-$369
    NJ State Sales Tax- $1263.74
    Looks to be a solid deal, since your payment quote is lower than my calculations.

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  • tinodeetinodee Member Posts: 5
    edited February 2016
    I am already "approved" by bmw but not sure what that means. Is that all you need to get the good mf? I have scores of around 725 with each bureau and high income, low debt. I can see the bmw inquiry on my report.
  • MichaellMichaell Moderator Posts: 255,827
    tinodee said:

    I am already "approved" by bmw but not sure what that means. Is that all you need to get the good mf? I have scores of around 725 with each bureau and high income, low debt. I can see the bmw inquiry on my report.

    725 will get you the best MF.

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  • marcthedarkmarcthedark Member Posts: 14
    Michaell said:
    Motor Vehicle-$310.50
    First month payment- $465.54
    Acquisition Fee- $925
    Dealer Document Fee-$369
    NJ State Sales Tax- $1263.74
    Looks to be a solid deal, since your payment quote is lower than my calculations.
    Michaell said:
    Motor Vehicle-$310.50
    First month payment- $465.54
    Acquisition Fee- $925
    Dealer Document Fee-$369
    NJ State Sales Tax- $1263.74
    Looks to be a solid deal, since your payment quote is lower than my calculations.
    Thanks that is what I though so it is good to get confirmation
  • tinodeetinodee Member Posts: 5
    Thank you again, all of the tips really help the confidence.
  • bmw_x1_fanbmw_x1_fan Member Posts: 4
    Hello

    I really appreciate you guys helping us.

    I have some preliminary numbers that I received from one of the dealers (have not gotten on phone with them yet and will try to reduce cap further)
    MSRP/Cap: $38045/$35885
    Lease: $462 + taxes
    Residual is 60%, Regional interest rate .0017MF with 740+ score required.
    Driveoff: Due at signing

    I have following questions:
    1. For given the numbers (MSRP and Cap), is lease amount reasonable?
    2. Is .0017MF accurate in California?
    3. Is it advisable to include Driveoff in Purchase price?

    Thank you very much.
  • MichaellMichaell Moderator Posts: 255,827

    Hello

    I really appreciate you guys helping us.

    I have some preliminary numbers that I received from one of the dealers (have not gotten on phone with them yet and will try to reduce cap further)
    MSRP/Cap: $38045/$35885
    Lease: $462 + taxes
    Residual is 60%, Regional interest rate .0017MF with 740+ score required.
    Driveoff: Due at signing

    I have following questions:
    1. For given the numbers (MSRP and Cap), is lease amount reasonable?
    2. Is .0017MF accurate in California?
    3. Is it advisable to include Driveoff in Purchase price?

    Thank you very much.

    Base MF is .00132 this month - dealer is marking it up on you

    Your choice to roll fees, etc. into the cap cost.

    What lease term and how many miles per year?

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  • bmw_x1_fanbmw_x1_fan Member Posts: 4
    Michaell

    Thanks for responding. Lease is 36/10k.
  • MichaellMichaell Moderator Posts: 255,827

    Michaell

    Thanks for responding. Lease is 36/10k.

    The inflated MF is adding about $20-25/mo to your base payment.

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  • tattvatattva Member Posts: 14
    Been shopping around for X1 and here are the initial numbers from a dealer:

    Market Value
    36,145.00
    Discount Savings
    -1,645.00
    Vehicle Selling Price
    34,500.00
    Document Prep Fee
    389.00
    License / Title
    601.00
    Tire/Battery/VTR Fee
    20.75
    Acquisition Fee
    925.00
    Tax on Collected Items
    59.09
    Total Cap
    36,494.84
    Down/Cash Cap Reduction
    -1,146.53
    Net Cap
    35,348.31

    Base Payment
    467.04
    Monthly Tax
    36.43
    36 Month Payment
    503.47

    Down/Cash Cap Reduction
    1,146.53
    1st Payment
    503.47
    Due On Delivery
    1,650.00

    Rate
    0.00152
    Annual Miles
    10,000
    Residual % [36,145]
    57+3=60%
    Residual Amount
    21,687.00


    I see that the dealer has marked up the MF . My ques is regarding the additional fees he has added and the selling price.

    Any advice is much appreciated.
  • MichaellMichaell Moderator Posts: 255,827
    tattva said:
    Been shopping around for X1 and here are the initial numbers from a dealer: Market Value 36,145.00 Discount Savings -1,645.00 Vehicle Selling Price 34,500.00 Document Prep Fee 389.00 License / Title 601.00 Tire/Battery/VTR Fee 20.75 Acquisition Fee 925.00 Tax on Collected Items 59.09 Total Cap 36,494.84 Down/Cash Cap Reduction -1,146.53 Net Cap 35,348.31 Base Payment 467.04 Monthly Tax 36.43 36 Month Payment 503.47 Down/Cash Cap Reduction 1,146.53 1st Payment 503.47 Due On Delivery 1,650.00 Rate 0.00152 Annual Miles 10,000 Residual % [36,145] 57+3=60% Residual Amount 21,687.00 I see that the dealer has marked up the MF . My ques is regarding the additional fees he has added and the selling price. Any advice is much appreciated.
    The fees seem to be in line. 

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  • tattvatattva Member Posts: 14
    What about the selling price ? is it a good price
  • MichaellMichaell Moderator Posts: 255,827
    tattva said:
    What about the selling price ? is it a good price
    I don't track selling prices - use the "make / model / year " pull downs at the top of the page to link to the price tools. 

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  • ellinjtheellinjthe Member Posts: 6
    Anyone have the current rate for 2016 X1 xdrive in Rhode Island. 36mo 12k miles per year.

    Thanks
  • MichaellMichaell Moderator Posts: 255,827
    ellinjthe said:

    Anyone have the current rate for 2016 X1 xdrive in Rhode Island. 36mo 12k miles per year.

    Thanks

    .00132 and 59%. $500 SAV Winter Adder.

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  • bmw_x1_fanbmw_x1_fan Member Posts: 4
    Hello
    Here is an offer from another dealer that I received.
    2016 BMW X1 - Mineral grey metallic color with Driver Assist and Nav package
    MSRP: $39045 Purchase price: $35145
    MF: 0.00132 (but not sure) and Residual: 60%
    DriveOff: $1000 and monthly $481 (inclusive of all taxes).

    Please let me know if you think this is a good offer.

    Thank you very much
  • MichaellMichaell Moderator Posts: 255,827

    Hello
    Here is an offer from another dealer that I received.
    2016 BMW X1 - Mineral grey metallic color with Driver Assist and Nav package
    MSRP: $39045 Purchase price: $35145
    MF: 0.00132 (but not sure) and Residual: 60%
    DriveOff: $1000 and monthly $481 (inclusive of all taxes).

    Please let me know if you think this is a good offer.

    Thank you very much

    As is, those numbers calculate to a payment of $403/mo plus tax.

    What state and tax rate is this?

    Might also be good to find out the net cap cost, as I'm sure some of the up front costs are being rolled into the lease if you're only being asked to come up with $1000 at signing.

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  • bmw_x1_fanbmw_x1_fan Member Posts: 4
    Michaell

    You may be right. Here is the breakup I have.

    Dealer Price: 35,145.00
    Total Price (incl Tax/title/reg/other fees): 38,708.73
    Cash Due: $1000
    Lease: $481 (incl of taxes) . This is in California. So I think it is about $440 + taxes

    Let me know what you think.
  • MichaellMichaell Moderator Posts: 255,827

    Michaell

    You may be right. Here is the breakup I have.

    Dealer Price: 35,145.00
    Total Price (incl Tax/title/reg/other fees): 38,708.73
    Cash Due: $1000
    Lease: $481 (incl of taxes) . This is in California. So I think it is about $440 + taxes

    Let me know what you think.

    Still seems off .. those numbers, with a 60% residual and .00132 MF, get me a payment of $507/mo before tax.

    What tax is there that takes the dealer price up over $3500 to the total price? I'd ask for a detailed breakdown of every fee.

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  • tattvatattva Member Posts: 14
    Any idea on what the MF/residual for March ??
  • MichaellMichaell Moderator Posts: 255,827
    tattva said:

    Any idea on what the MF/residual for March ??

    Not until March. :sunglasses:

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  • tattvatattva Member Posts: 14
    Michaell said:

    tattva said:

    Any idea on what the MF/residual for March ??

    Not until March. :sunglasses:
    Its already march in other parts of the world :smile:
  • MichaellMichaell Moderator Posts: 255,827
    tattva said:
    Any idea on what the MF/residual for March ??
    Not until March. :sunglasses:
    Its already march in other parts of the world :smile:
    Patience...

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  • untdrums98untdrums98 Member Posts: 18
    What do you guys think of this? Too much right? This is the first offer I was given today from a local dealer. I'm cross shopping one of these and an i3 REX.



  • tattvatattva Member Posts: 14
    Michaell said:

    tattva said:

    Any idea on what the MF/residual for March ??

    Not until March. :sunglasses:
    Do we know the MF/Residual for March . TIA
  • MichaellMichaell Moderator Posts: 255,827
    tattva said:

    Michaell said:

    tattva said:

    Any idea on what the MF/residual for March ??

    Not until March. :sunglasses:
    Do we know the MF/Residual for March . TIA
    .00135 and 57% for 36/15. $500 lease credit.

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  • MichaellMichaell Moderator Posts: 255,827

    What do you guys think of this? Too much right? This is the first offer I was given today from a local dealer. I'm cross shopping one of these and an i3 REX.

    What state is this? The tax rates seems high; most states tax either the monthly payment or the sum of the monthly payments.

    I'd also get an accounting of the money due at signing .. how much is cap reduction and how much covers the up front costs?

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  • tattvatattva Member Posts: 14
    Michaell said:

    tattva said:

    Michaell said:

    tattva said:

    Any idea on what the MF/residual for March ??

    Not until March. :sunglasses:
    Do we know the MF/Residual for March . TIA
    .00135 and 57% for 36/15. $500 lease credit.
    ouch ... bad nums compared to Feb.. :(
  • jiggyjiggy Member Posts: 17
    Hi Everyone,

    Can you help me decide if this is a good lease price? Thanks in advance

    X1 with loaded options
    Vehicle Price: $46,610.00

    Sale Price: $43,990.00

    Sales Tax (estimate): + $3,858.67
    Weight Fee: + $24.00
    Tag/Registration Fees (estimate): + $356.00
    Flat Add/County Fee: + $20.00
    Electronic Filing: + $29.00
    Smog Abatement Fee: + $20.00
    Documentation Fee: + $80.00
    Tire/Battery/MVWEA: + $7.00
    Balance Due (estimate): $48,384.67

    LEASE OPTIONS
    Cash Due 36 months
    Rebates: $500
    12,000 Miles
    $0 upfront/due at singing $690/month


  • kyfdxkyfdx Moderator Posts: 257,570
    jiggy said:

    Hi Everyone,

    Can you help me decide if this is a good lease price? Thanks in advance

    X1 with loaded options
    Vehicle Price: $46,610.00

    Sale Price: $43,990.00

    Sales Tax (estimate): + $3,858.67
    Weight Fee: + $24.00
    Tag/Registration Fees (estimate): + $356.00
    Flat Add/County Fee: + $20.00
    Electronic Filing: + $29.00
    Smog Abatement Fee: + $20.00
    Documentation Fee: + $80.00
    Tire/Battery/MVWEA: + $7.00
    Balance Due (estimate): $48,384.67

    LEASE OPTIONS
    Cash Due 36 months
    Rebates: $500
    12,000 Miles
    $0 upfront/due at singing $690/month


    Is this California? If so, tax isn't paid on the purchase price. The tax is applied to the lease payment, each month. So, your "balance due" isn't relevant to a lease.

    No disclosure of the money factor or residual?

    .00135 MF and 59% residual. $500 lease credit.

    Using base rates and assuming 8% sales tax, you should be at $630/mo. with 1st payment due at signing.. If rolling that payment in, about $650/mo. including tax.

    Since they are about $40/mo. higher, I'd assume they are marking up the money factor.

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  • jiggyjiggy Member Posts: 17
    This is California Bay Area and sales tax is 9.25. 

    They rolled the first month's payment into the lease so it's 0 cash due at signing.

    I'll double check the money factor they are using.

    Thanks for the help.


  • lucyredlucyred Member Posts: 95
    Hi, can I please have the residual/MF for 2016 bmw x1 automatic 12/36 lease in NY.
  • kyfdxkyfdx Moderator Posts: 257,570
    lucyred said:

    Hi, can I please have the residual/MF for 2016 bmw x1 automatic 12/36 lease in NY.

    .00135 MF and 59% residual. $500 lease credit.

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  • tinodeetinodee Member Posts: 5
    edited March 2016
    Hey guys just reporting back I got a great lease and they honored the MF and Residual I got from here. I got a below invoice lease on exact color, model and options I wanted. Aside from small seats it's a great car! It's worth looking at M sport version to see about the sport seats. Really nice and smooth, solid punch on the highway and around town where applicable.

    Thanks for the info!
  • kyfdxkyfdx Moderator Posts: 257,570
    tinodee said:

    Hey guys just reporting back I got a great lease and they honored the MF and Residual I got from here. I got a below invoice lease on exact color, model and options I wanted. Aside from small seats it's a great car! It's worth looking at M sport version to see about the sport seats. Really nice and smooth, solid punch on the highway and around town where applicable.

    Thanks for the info!

    Congrats on the new X1!

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  • bmlover84bmlover84 Member Posts: 2
    Hi, is it normal for a dealership to charge tax on a rebate cap reduction? Questioning the $216.91 below

    First payment: $534
    Security: 0
    Cap red: $944.01
    Rebate on cap red - $1,500
    tax on cap red: $216.91
    dmv fees: $75
    tire fee: $10
    Inspection fee: $10
    Doc fee: $75
    Other Fee: 0
    Tax on Fees: 0
    rebate: -$1,500
    Cash due on lease: $1,864.92

  • MichaellMichaell Moderator Posts: 255,827
    bmlover84 said:

    Hi, is it normal for a dealership to charge tax on a rebate cap reduction? Questioning the $216.91 below

    First payment: $534
    Security: 0
    Cap red: $944.01
    Rebate on cap red - $1,500
    tax on cap red: $216.91
    dmv fees: $75
    tire fee: $10
    Inspection fee: $10
    Doc fee: $75
    Other Fee: 0
    Tax on Fees: 0
    rebate: -$1,500
    Cash due on lease: $1,864.92

    Yes, it is common for that to happen.

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  • bmlover84bmlover84 Member Posts: 2
    Thanks! I'll be driving away in my X1 on Wednesday :D
  • MichaellMichaell Moderator Posts: 255,827
    bmlover84 said:

    Thanks! I'll be driving away in my X1 on Wednesday :D

    Care to share your deal details with us?

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  • uno_ru6uno_ru6 Member Posts: 9
    hello, can I please have the numbers for 2016 x1 for march? 36/10K in washington.

    Also, this might be a dumb question, first time buyer here, what would be a good % for MSRP discount? (The 2016 X1 pricing page doesn't have as much information as I'd hoped). We were looking at a very basic built, with a MSRP of $37K, the dealer gave us a potential sales price of $34,700, that's a 6% discount, with 0.00155 MF, 60% residual. If we were able to knock the MF back to 0.135 and keep everything the same, would this be considered a good deal?

    Also, I know people normally negotiate on the sale price. Would it be ok to push on the MF and residual value as well? or is the MF/RV you provide here a hard requirement that dealers would never be able to go below the base?

    Thanks so much!
  • kyfdxkyfdx Moderator Posts: 257,570
    uno_ru6 said:

    hello, can I please have the numbers for 2016 x1 for march? 36/10K in washington.

    Also, this might be a dumb question, first time buyer here, what would be a good % for MSRP discount? (The 2016 X1 pricing page doesn't have as much information as I'd hoped). We were looking at a very basic built, with a MSRP of $37K, the dealer gave us a potential sales price of $34,700, that's a 6% discount, with 0.00155 MF, 60% residual. If we were able to knock the MF back to 0.135 and keep everything the same, would this be considered a good deal?

    Also, I know people normally negotiate on the sale price. Would it be ok to push on the MF and residual value as well? or is the MF/RV you provide here a hard requirement that dealers would never be able to go below the base?

    Thanks so much!

    .00135 MF and 60% residual. $500 lease credit.

    6% off with base MF would be a good deal, especially on a low-priced unit.

    Residuals are set by the bank. The base rate is the lowest you can get.

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  • forkliterforkliter Member Posts: 4
    Hi everyone, wanted to share some potential deal numbers and get feedback.

    MSRP 44000
    Selling price 42000
    36 mos 10K miles
    $1000 at closing
    60% residual is assumed
    MF .00173 is what I'm backing into
    NY State 8% Sales Tax capped into payment

    Sounds like this deal could be better. Where are the leverage points? I've seen discounts as much as $3400 on $44000 on Cars.com and BMW dealer sites.

    Sounds like $41,360 with as close to .00135 would be the numbers.
  • MichaellMichaell Moderator Posts: 255,827
    forkliter said:

    Hi everyone, wanted to share some potential deal numbers and get feedback.

    MSRP 44000
    Selling price 42000
    36 mos 10K miles
    $1000 at closing
    60% residual is assumed
    MF .00173 is what I'm backing into
    NY State 8% Sales Tax capped into payment

    Sounds like this deal could be better. Where are the leverage points? I've seen discounts as much as $3400 on $44000 on Cars.com and BMW dealer sites.

    Sounds like $41,360 with as close to .00135 would be the numbers.

    We don't track selling prices, but $2K off is not bad on the X1.

    .00135 is the MF for March - be advised, these numbers expire today. New numbers released tomorrow, but we may not see them until next week.

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