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Advise on Lease Offer Please - 2016 BMW X5 eDrive

teck2u2teck2u2 Posts: 33
edited July 2016 in BMW
Hi all,

Thank you for your continued support and education from this forum. I have yet another question. I went to a BMW dealership in Long Island NY looking for a 2016 X5. I was offered $650 on a basic X5 3.xx lease but passed on it. So the "manager" came at me with the following and i need your help before i pulled the trigger:

2106 x5 Xdr40e with 2900 miles
Total Suggested Price $71,770
36 Months lease 12 miles per year
$580 monthly payment
$0 down
MF .00165
Residual 59%
Total at drive off (tax, title etc) including 1st month payment is $3856

This is a "Brass Hat" vehicle

1. Is this a fair deal?
2. Is there any knows issues with the X5 Electric?

Please let me know ASAP so I can decide. I'm also considering the Volvo XC90 and I will ask separately about this. Thanks!!

Comments

  • zoombie99zoombie99 North JerseyPosts: 282
    aren't the taxes in the monthly payment? Money factor is higher than the money factor for a new BMW.
    BMW 2019 540x Bluestone
    BMW 2017 Melbourne Rent X3 28i (wife's)
  • kyfdxkyfdx Posts: 119,685
    teck2u2 said:

    Hi all,

    Thank you for your continued support and education from this forum. I have yet another question. I went to a BMW dealership in Long Island NY looking for a 2016 X5. I was offered $650 on a basic X5 3.xx lease but passed on it. So the "manager" came at me with the following and i need your help before i pulled the trigger:

    2106 x5 Xdr40e with 2900 miles
    Total Suggested Price $71,770
    36 Months lease 12 miles per year
    $580 monthly payment
    $0 down
    MF .00165
    Residual 59%
    Total at drive off (tax, title etc) including 1st month payment is $3856

    This is a "Brass Hat" vehicle

    1. Is this a fair deal?
    2. Is there any knows issues with the X5 Electric?

    Please let me know ASAP so I can decide. I'm also considering the Volvo XC90 and I will ask separately about this. Thanks!!

    So, $71,770 is the MSRP?

    Any idea of the selling price or adjusted CAP cost?
    .00137 MF and 59% residual (reduced by $725 or so, for the existing mileage).

    With the residual, it must qualify for the new car program, but as @zoombie99 noted, the money factor is marked up. If it's NY, I assume you are paying the taxes upfront in that $3856 due at signing?

    Do you really want an electric vehicle?

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • teck2u2teck2u2 Posts: 33
    Yes, I'm paying the taxes up front and I just spoke with the dealership and they confirmed that the $580 would be my actual monthly payment because I'm paying taxes up front.

    1. I don't mind driving an electric car and from what I see, the reviews are pretty positive. No?
    2. I assume I should bargain for a MF of .00137 instead of .00165?
    3. Yes, $71, 770 is MSRP and I'll hopefully get the selling price later today and will update all.

    Thank you so much.
  • teck2u2teck2u2 Posts: 33
    edited July 2016
    Test drove the X5 x drive 4.0e today and loved it!

    They are selling me the car for $60,020 and the payment went down to $569 so I sign pending inspection (want to see if there are any scratches etc.)

    @kyfdx can you please let me know your thoughts? Is this a good deal or not. They did mention that if I have Tier1 credit the money factor will go down to .00137 shaving ~$10 off the monthly.

    Thanks all.
  • kyfdxkyfdx Posts: 119,685
    teck2u2 said:

    Test drove the X5 x drive 4.0e today and loved it!

    They are selling me the car for $60,020 and the payment went down to $569 so I sign pending inspection (want to see if there are any scratches etc.)

    @kyfdx can you please let me know your thoughts? Is this a good deal or not. They did mention that if I have Tier1 credit the money factor will go down to .00137 shaving ~$10 off the monthly.

    Thanks all.

    Looks like a very solid deal.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • teck2u2teck2u2 Posts: 33
    Thank you sir. I'll update everyone later in the week.
  • teck2u2teck2u2 Posts: 33
    Picked up my X5 today with 2910 miles. Not a scratch, looks, feels, smells brand new! My payment went down to $539 per moth and my total down was $4025 which included, tax, title, dmv, fees etc. if anyone want the details numbers I can post it. Again, this was a "brass hat" vehicle and I guess I was lucky to get such a great deal.
  • teck2u2 said:
    Picked up my X5 today with 2910 miles. Not a scratch, looks, feels, smells brand new! My payment went down to $539 per moth and my total down was $4025 which included, tax, title, dmv, fees etc. if anyone want the details numbers I can post it. Again, this was a "brass hat" vehicle and I guess I was lucky to get such a great deal.
    Can you post details?? Does it have 3 rows??
  • cand1unccand1unc Posts: 26
    What dealer I want that car?
  • lhh1026lhh1026 Posts: 9
    Same here. Where is this dealer?
  • teck2u2teck2u2 Posts: 33
    @m_kothuri, no third row
    @cand1unc, Freeport BMW worked with Lucia Santiago
    @ihh1026, the dealer is in Freeport NY
  • zoombie99zoombie99 North JerseyPosts: 282
    I don't think 3rd row is an option with the "E" because of the location of the batteries. Many dealers are pushing the "E" and some people have reported getting nearly 9k off with the 3,500 credit.

    The dealers with the most stock have the biggest incentive to move them (Economics 101/supply & demand).

    For instance, some dealers may only have one in stock:

    http://www.bmwoftenafly.com/bmw-x5_edrive/


    but others like Park Ave in NJ have 12 in stock.

    http://www.parkavebmw.com/new-inventory/index.htm?search=&superModel=X5&model=X5+xDrive40e&saveFacetState=true&lastFacetInteracted=inventory-listing1-facet-anchor-model-1

    I know that Park Ave is aggressively trying moving them based on my conversations with Mike, the sales manager. My wife's 428 is eligible for a pull ahead now and BMW will eat the last three payments, While I'm currently leaning towards a loaded X, I am going to test drive an E tonight before I make my final decision.

    BMW 2019 540x Bluestone
    BMW 2017 Melbourne Rent X3 28i (wife's)
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