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Acceptable X1 lease?

axxfishaxxfish Posts: 5
edited December 2016 in BMW
Hi there. Trying to sign the dotted line this Saturday for a 2017 X1 $45.500 MSRP incl $995 dest/handling fee.

Dealer offered $489 lease ($3500 upfront for taxes, fees, first payment). After quizzing him on the lease he provided details as follows:

36month/10k miles
Cap Cost is $42,185
Residual value is $27,965.45 = 61.13%

I came up with a money factor of 0.00134 or 3.21%.

I have an excellent credit score. Where to you see the most room for negotiation?

Thank you for your input!

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Best Answers

  • kyfdxkyfdx Posts: 107,062
    Accepted Answer
    axxfish said:

    Hi there. Trying to sign the dotted line this Saturday for a 2017 X1 $45.500 MSRP incl $995 dest/handling fee.

    Dealer offered $489 lease ($3500 upfront for taxes, fees, first payment). After quizzing him on the lease he provided details as follows:

    36month/10k miles
    Cap Cost is $42,185
    Residual value is $27,965.45 = 61.13%

    I came up with a money factor of 0.00134 or 3.21%.

    I have an excellent credit score. Where to you see the most room for negotiation?

    Thank you for your input!

    Residuals are full percentages. The MSRP has to be $45,845.
    .00134 MF and 61% residual
    The payment calculation is correct.

    So, $3000 for taxes and fees. Do you have a breakdown of that amount?
    If all the charges are valid, then your discount from MSRP is $3660.
    But, there is a $1000 incentive from BMW on this model, so the actual dealer discount is $2660.
    That's a little less than 6%. Not too bad.
    I'd be more worried about what's hiding in the $3000 upfront.

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

    Edmunds Moderator

Answers

  • Thank you!

    Breakdown of the upfront payment is as follows:
    $1,324 sales tax
    $319.45 DMV
    $925 bank fee (insane imo)
    $395 DOC fee

    Can the bank fee be negotiated.

    In the meantime my local dealer found an existing perfect match (+sport seats) at a nearby dealer (he'll trade a car) and offered it to me for $459 per month and same upfront payment. I am haggling with him but am inclined to take the deal. He'll have to throw in the wll weather mats though ;) Frankly I though I would get a better deal given it's the last day of the year.

    Thanks a lot again!


  • My dealer was so slow with his quote that the car at the other dealer's lot was already gone. Long story short. I can't get a deal this year, as there is no matching vehicle. So I'll have to order (and pay more with the year-end discounts gone). At least I can get exactley what I want. And I know what a decent enough deal will look like. Thanks for your help. Happy new year!
  • MichaellMichaell ColoradoPosts: 96,415
    axxfish said:

    Thank you!

    Breakdown of the upfront payment is as follows:
    $1,324 sales tax
    $319.45 DMV
    $925 bank fee (insane imo)
    $395 DOC fee

    Can the bank fee be negotiated.

    In the meantime my local dealer found an existing perfect match (+sport seats) at a nearby dealer (he'll trade a car) and offered it to me for $459 per month and same upfront payment. I am haggling with him but am inclined to take the deal. He'll have to throw in the wll weather mats though ;) Frankly I though I would get a better deal given it's the last day of the year.

    Thanks a lot again!

    Bank fee is set by BMWFS and cannot be negotiated.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • MichaellMichaell ColoradoPosts: 96,415
    axxfish said:

    My dealer was so slow with his quote that the car at the other dealer's lot was already gone. Long story short. I can't get a deal this year, as there is no matching vehicle. So I'll have to order (and pay more with the year-end discounts gone). At least I can get exactley what I want. And I know what a decent enough deal will look like. Thanks for your help. Happy new year!

    If you put your order in before close of business Tuesday, you can get these numbers. That's when the December programs expire.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Could you please tell me the January lease residuals, money rates, and current incentives - 2017 X1

    looking at 12k or 15k/36 months or possibly 12k or 36k/24 months for comparison
  • kyfdxkyfdx Posts: 107,062
    blazer007 said:

    Could you please tell me the January lease residuals, money rates, and current incentives - 2017 X1

    looking at 12k or 15k/36 months or possibly 12k or 36k/24 months for comparison

    .00134 MF and 64%/58% residual for 24/36 months, 15K/yr
    Add 2% for 12K/yr

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

    Edmunds Moderator

This discussion has been closed.