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2016 BMW X5 XdDrive 35i lease terms

hammersbhammersb Member Posts: 7
edited April 2016 in BMW
I reviewed the other deals you documented and went to the dealer. I'm currently leasing a 2014 X5 35i in San Diego and shopping to turn it in for a new one.

offer: this will be an order car so I priced it on the BMW site and emailed that to the dealer which came to MSRP $63,470.
His offer: sale price $ 59,344 down payment 0, residual 38,717, MF .00135, lease payment $883.57. includes loyalty credit of $1000 to apply to license & registration.

Do these numbers match your calculation?

Thanks


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    kyfdxkyfdx Moderator Posts: 241,355
    hammersb said:

    I reviewed the other deals you documented and went to the dealer. I'm currently leasing a 2014 X5 35i in San Diego and shopping to turn it in for a new one.

    offer: this will be an order car so I priced it on the BMW site and emailed that to the dealer which came to MSRP $63,470.
    His offer: sale price $ 59,344 down payment 0, residual 38,717, MF .00135, lease payment $883.57. includes loyalty credit of $1000 to apply to license & registration.

    Do these numbers match your calculation?

    Thanks


    To keep the math simple, we'll assume the $1000 covers your first payment.

    Adding $1500 to the selling price for $925 acq.fee + title/registration/doc fee, results in a payment of $749/mo.+tax. With 9% tax, that is $816/mo. That's a long way from $883/mo.

    Of course, I'm estimating some of that.
    Ask the dealer for the net/adjusted CAP cost, the money factor used (I know what they said, but ask again), and the total amount out of pocket that is due at signing.

    Almost $900/mo. for a $64K vehicle is not that good, for 36mo, 10K/yr

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    hammersbhammersb Member Posts: 7
    I'm sorry, I left out it is 12,000 mi per year. How does this change the calculation?
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    MichaellMichaell Moderator Posts: 244,135
    hammersb said:

    I'm sorry, I left out it is 12,000 mi per year. How does this change the calculation?

    I'm assuming my co host used a residual for 15K per year. The 12K residual is 2% higher, which would reduce your payment about $35/mo before tax. So, even a bigger gap to the dealer quote.

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    hammersbhammersb Member Posts: 7
    His comment stated 10K miles per year. Is there a way to adjust for 12K / year
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    MichaellMichaell Moderator Posts: 244,135
    hammersb said:

    His comment stated 10K miles per year. Is there a way to adjust for 12K / year

    My apologies (gotta read the comments closer!).

    Subtract 1% from the 10K residual for 12K; that would raise your payment about $17-18/mo.

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    hammersbhammersb Member Posts: 7
    So $816 you got plus $20 for 2000 extra miles/month gets me to $836/month. Seems like I have some bargaining to do!

    Their quote was for absolutely no money down. Would that make this much difference

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    MichaellMichaell Moderator Posts: 244,135
    hammersb said:

    So $816 you got plus $20 for 2000 extra miles/month gets me to $836/month. Seems like I have some bargaining to do!

    Their quote was for absolutely no money down. Would that make this much difference

    The $1000 we assumed you put down equates to another $28/mo if you add it into the payment. So $860-870/mo

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    leo_755leo_755 Member Posts: 1
    hi ,i am old new to Edmund's, i read always reviews and make a researches,so maybe for somebody it will be helpful i got deal $843(includinding taxes and fees) with 0 down , 36 month/ 15000 miles, msrp $ 65895 , buy out after lease $35675.
    x5 xdrive 3.5 gas. the deal i got was from leasing company.
    dealer was way far,
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    hammersbhammersb Member Posts: 7
    What is a leasing company? You can buy a car from them and by pass the dealer?
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    MichaellMichaell Moderator Posts: 244,135
    hammersb said:

    What is a leasing company? You can buy a car from them and by pass the dealer?

    A leasing company is a third party that will act as your agent with the dealer. They help with the paperwork and try to secure you the best deal. Great for folks who can't or won't negotiate with the dealer directly. There is a fee to use them.

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    hammersbhammersb Member Posts: 7
    I got the iPhone app Leasematic (written by a BMW car club member), entered the factors and came up with $762 lease payment. I got my second dealer bid back from another BMW dealer and it was $ 861, very close to the other dealer but almost $100/month more than both your calculation and leasematic app.

    Is this part of the negotiation, that they start 100 bucks high and whats the best way to close the gap? How do I proceed?
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    MichaellMichaell Moderator Posts: 244,135
    hammersb said:

    I got the iPhone app Leasematic (written by a BMW car club member), entered the factors and came up with $762 lease payment. I got my second dealer bid back from another BMW dealer and it was $ 861, very close to the other dealer but almost $100/month more than both your calculation and leasematic app.

    Is this part of the negotiation, that they start 100 bucks high and whats the best way to close the gap? How do I proceed?

    You negotiate the selling price just like you would for a purchase. Then, review all the fees you are paying up front or adding in to the sale price.

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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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    hammersbhammersb Member Posts: 7
    I got the MSRP down by $4200 which is OK, along with the MF of .00135 and the residual of .60 which all matches your model. Then I get to the lease payment and its $840 and you guys think a $62,000 car should be more like $ 750. Are there places where they can hide fees etc. One big factor is I had them quote this with 0 down and rolled all fees into the lease. Maybe this is where the discrepancy lies.
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    MichaellMichaell Moderator Posts: 244,135
    hammersb said:

    I got the MSRP down by $4200 which is OK, along with the MF of .00135 and the residual of .60 which all matches your model. Then I get to the lease payment and its $840 and you guys think a $62,000 car should be more like $ 750. Are there places where they can hide fees etc. One big factor is I had them quote this with 0 down and rolled all fees into the lease. Maybe this is where the discrepancy lies.

    Exactly ... nothing wrong with rolling in your fees into the lease, just want to know what that final cap cost number is as well as a breakdown of all the fees being added.

    Each $1000 will add about $28/mo, pre-tax, to the lease payment.

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    polsencapolsenca Member Posts: 2
    Checking on a lease deal for a X5
    MSRP - 61,370
    Residual - 59%
    36 months/12k miles per
    Residual Value - $36,208
    Cap Cost - $58,000
    Cash Cap Reduction - $2117.33
    Rebate - $2k
    Bank Fee - $925
    Adjusted Cap Cost - $54,807
    Lease Factor - .00157
    Total Monthly - $718.91
    Cash Down - $3,900

    Is this a good deal? Thanks in advance
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    kyfdxkyfdx Moderator Posts: 241,355
    polsenca said:

    Checking on a lease deal for a X5
    MSRP - 61,370
    Residual - 59%
    36 months/12k miles per
    Residual Value - $36,208
    Cap Cost - $58,000
    Cash Cap Reduction - $2117.33
    Rebate - $2k
    Bank Fee - $925
    Adjusted Cap Cost - $54,807
    Lease Factor - .00157
    Total Monthly - $718.91
    Cash Down - $3,900

    Is this a good deal? Thanks in advance

    I get $659/mo.+tax.

    Your $3900?
    1st payment
    CCR $2117

    What is the other $1000 for?

    Money factor is marked up from base .00137.

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    polsencapolsenca Member Posts: 2
    Thanks for reply

    I'm having trouble figuring out which numbers roll up into the others but, based on your response, is this the math:

    MSRP - $61,370
    DownPayment - $3,900 (subtract)
    !st payment - $718.91 (subtract)
    CCR - $2117.33

    = $54,633.76 (should this equal the Adjusted Cap Cost?)

    Then you multiple that by the money factor to get the % interest?

    Regardless of me fully understanding the math, is this a decent discount off the MSRP for the car?

    Thanks
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    kyfdxkyfdx Moderator Posts: 241,355
    polsenca said:

    Thanks for reply

    I'm having trouble figuring out which numbers roll up into the others but, based on your response, is this the math:

    MSRP - $61,370
    DownPayment - $3,900 (subtract)
    !st payment - $718.91 (subtract)
    CCR - $2117.33

    = $54,633.76 (should this equal the Adjusted Cap Cost?)

    Then you multiple that by the money factor to get the % interest?

    Regardless of me fully understanding the math, is this a decent discount off the MSRP for the car?

    Thanks

    $58,000 selling price
    -$2117.33 CCR (this is the portion of your $3900 that is going to Cap cost reduction).
    -$2000 Rebate
    +$925 acquisition fee
    = $54,807 adjusted CAP cost.

    So, you are paying $3900 upfront.
    $2117 goes to CAP cost reduction (downpayment)
    $719 goes to first payment.
    That leaves over $1000 to pay for.... what?
    There could be legitimate charges.. but, without a breakdown, you can't be sure.

    They are giving a 5.5% discount from MSRP, which is average, but then marking up the money factor for extra profit. Seems like you could do better.

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    zoombie99zoombie99 Member Posts: 320
    I'm confused now. Is the OP's lease based on MSRP less the $2,000 rebate only? If so run, don't walk, from that dealer.
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
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    zoombie99zoombie99 Member Posts: 320
    Also, to the OP, you don't want to put extra money down to reduce the payments, What happens if the SUV gets stolen or is totalled? You probably lose the excess money you put down.
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
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