First time X5 lease coming up TODAY! Help!!

nashbmw

Hi everyone - first post ever here. Love this forum. I will try to give all the right info.

Currently have a 2013 335i Msport lease (10K/36) expiring in march 2016. Dealer would like to do an early trade-in. Only have 22K miles on it. Dealer says TODAY is the day or else all numbers change after new year. Here is the deal they have for me for another 10K/36month lease:

I live in Nashville, TN

2016 X5 xDrive35i 4dr All-wheel Drive Sports Act
Book value - 57,595
Discount - 5,534
Purchase price - 52,951
Doc Fee, tax, title fee, business tax, aquisistion fee in addition leads to a Net Price of $54,810

They are offering $2100 down, $650/month

Is this a good deal. I see all the MF/residual discussions and I can't make sense of them. I've heard the terms but not sure how to apply. Would love to know if there is room for further negotiation.

Thanks so much for any assistance and Happy New Year!

Michaell

nashbmw said:

Hi everyone - first post ever here. Love this forum. I will try to give all the right info.

Currently have a 2013 335i Msport lease (10K/36) expiring in march 2016. Dealer would like to do an early trade-in. Only have 22K miles on it. Dealer says TODAY is the day or else all numbers change after new year. Here is the deal they have for me for another 10K/36month lease:

I live in Nashville, TN

2016 X5 xDrive35i 4dr All-wheel Drive Sports Act
Book value - 57,595
Discount - 5,534
Purchase price - 52,951
Doc Fee, tax, title fee, business tax, aquisistion fee in addition leads to a Net Price of $54,810

They are offering $2100 down, $650/month

Is this a good deal. I see all the MF/residual discussions and I can't make sense of them. I've heard the terms but not sure how to apply. Would love to know if there is room for further negotiation.

Thanks so much for any assistance and Happy New Year!

First, the BMW lease programs are valid until 1/4/16, so no rush to pull the trigger today.

Second, the articles here can get you started on the basics of leasing:

http://www.edmunds.com/car-leasing/

Using the MF of .00131 and the 36/10 residual of 55%, I get a payment of $756/mo + tax

There is $1500 of option credit available on the X5, as well as $1500 loyalty credit, which you should qualify for as a current BMW leasee. You may be able to negotiate a bigger discount from sticker with that knowledge.

Find out how the $2100 up front cash is being applied - if it is all down payment, that would only reduce the pre-tax payment about $58/mo.

So, something isn't adding up. The math on a lease is quite simple - 4th or 5th grade at most.