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2016 BMW X5 35is with M Sport Package Lease Questions

nanners11nanners11 Member Posts: 3
edited April 2016 in BMW
Looking into leasing a 2016 BMW X5 with M Sport package loaner with 3500 miles, 75,000 mile warranty for 36 months. Sale price just reduced to $54,373 with residual value of $37,524. With $5k down they are offering a monthly payment of $615 all in. Is this a fair deal?

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    MichaellMichaell Moderator Posts: 244,135
    nanners11 said:

    Looking into leasing a 2016 BMW X5 with M Sport package loaner with 3500 miles, 75,000 mile warranty for 36 months. Sale price just reduced to $54,373 with residual value of $37,524. With $5k down they are offering a monthly payment of $615 all in. Is this a fair deal?

    Are you asking for a lease with 25,000 miles per year?

    What state and tax rate is this?

    What does the $5000 due at signing cover?

    .00135 and 58% for 36 month, 15,000 miles per year. The 58% is reduced for the demo miles at about .20 per mile, or $700.

    What is the MSRP?

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    nanners11nanners11 Member Posts: 3
    SC, original MSRP was $64,750, reduced to $54,657. South Carolina. I was told the $615 was an all-in number per month, 10,000 miles/year lease. What kind of monthly should I be looking for $5,000 down?
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    MichaellMichaell Moderator Posts: 244,135
    nanners11 said:

    SC, original MSRP was $64,750, reduced to $54,657. South Carolina. I was told the $615 was an all-in number per month, 10,000 miles/year lease. What kind of monthly should I be looking for $5,000 down?

    As is, I get $600/mo before tax, with those numbers. However, that isn't adjusting the residual for the miles, but that only adds about $20/mo. This calculation assumes $0 cap cost reduction.

    We don't recommend making a down payment on a lease - if the car is stolen or totaled, you lose that money.

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    nanners11nanners11 Member Posts: 3
    Wouldn't insurance cover that?
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    MichaellMichaell Moderator Posts: 244,135
    nanners11 said:

    Wouldn't insurance cover that?

    Nope.

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