Good Deal?

LEASE_LESS

Hi,

I was quoted in $649 per month on a new 2019 X5 last night and need your advise and guidance please?

Zip Code 11580
MSRP $64,895
Down payment $6000
MF 0.00165
Residual 58%
12,000 miles per year
3 Years Lease

Deal include paying off 1 month lease ($539) plus $500 excess miles on my current X5 and all rebates are included.

1. Can I do better on this deal, if yes what should I target for monthly payment?
2. Are MF and Residual quoted, correct?

Vehicle is in stock.

Please advise, thanks!

kyfdx

LEASE_LESS said:

Hi,

I was quoted in $649 per month on a new 2019 X5 last night and need your advise and guidance please?

Zip Code 11580
MSRP $64,895
Down payment $6000
MF 0.00165
Residual 58%
12,000 miles per year
3 Years Lease

Deal include paying off 1 month lease ($539) plus $500 excess miles on my current X5 and all rebates are included.

1. Can I do better on this deal, if yes what should I target for monthly payment?
2. Are MF and Residual quoted, correct?

Vehicle is in stock.

Please advise, thanks!

That is the correct money factor and residual.

What is your location?
What is the selling price?
Adjusted CAP cost?

Why put so much down on a car that you are renting?

LEASE_LESS

Hi, I’m in Long Island NY
I do not know the selling price. The $6000 includes 1st payment, taxes and fees and I guess after that they will apply the remainder towards cap cost? 

Please advise ice exactly what I have to ask for and I will. Thanks! 

Michaell

LEASE_LESS said:

Hi, I’m in Long Island NY
I do not know the selling price. The $6000 includes 1st payment, taxes and fees and I guess after that they will apply the remainder towards cap cost? 

Please advise ice exactly what I have to ask for and I will. Thanks! 

Hard to know if you can do better, when you don't have the selling price for the current deal.

In NY, we recommend you pay the first payment, the registration costs, and the taxes, up front. $3000, give or take.

Anything beyond that would be lost if the car is stolen or totaled.

LEASE_LESS

Hi Michaell,

I went back and got three quotes, can you please advice on the accuracy and which is the better deal? Please remember I am doing 3 yrs lease with 12,000 miles per year any my prices includes all rebates and incentives. I am a current BMW lease holder. They will pay off last month lease ($539) plus excess miles ($500) and I have a disposition fee of $350.

#1 (New Vehicle)
MSRP 67,045
Selling 58,795
Cap cost reduction 2,000
Fees and Taxes 4,000
Monthly Payment $695

#2(Loaner with 2266 miles)
MSRP 64,495
Selling 55,005
Cap cost reduction 2,000
Fees and Taxes 4,000
Monthly Payment $652

#3 (New Vehicle)
MSRP 64,895
Selling 57,645
Cap cost reduction 2,000
Fees and Taxes 4,000
Monthly Payment $649

($4000 fees consists of)
1st month payment
Bank fee $925
Tax (my tax rate is 8.625 - Long Island, NY)
Motor Vehicle 75
Inspection 10
Tyre 12.50

Please let me know as they want me to sign ASAP (duh) 🙄 . Sorry for long post, Thanks!

LEASE_LESS

Is this a good Deal?

MSRP 65,045
Selling Price 57, 650
Residual 58%
MF 0.00165

Michaell

LEASE_LESS said:

Hi Michaell,

I went back and got three quotes, can you please advice on the accuracy and which is the better deal? Please remember I am doing 3 yrs lease with 12,000 miles per year any my prices includes all rebates and incentives. I am a current BMW lease holder. They will pay off last month lease ($539) plus excess miles ($500) and I have a disposition fee of $350.

#1 (New Vehicle)
MSRP 67,045
Selling 58,795
Cap cost reduction 2,000
Fees and Taxes 4,000
Monthly Payment $695

#2(Loaner with 2266 miles)
MSRP 64,495
Selling 55,005
Cap cost reduction 2,000
Fees and Taxes 4,000
Monthly Payment $652

#3 (New Vehicle)
MSRP 64,895
Selling 57,645
Cap cost reduction 2,000
Fees and Taxes 4,000
Monthly Payment $649

($4000 fees consists of)
1st month payment
Bank fee $925
Tax (my tax rate is 8.625 - Long Island, NY)
Motor Vehicle 75
Inspection 10
Tyre 12.50

Please let me know as they want me to sign ASAP (duh) 🙄 . Sorry for long post, Thanks!

Of those quotes, #3 looks to be the best.

LEASE_LESS

Thank you Michaell, can you comment on the post above? The one with the picture of the worksheet please?

Michaell

LEASE_LESS said:

Thank you Michaell, can you comment on the post above? The one with the picture of the worksheet please?

I get $711/mo, with the numbers provided. Assumes all taxes and fees are paid up front.

You need to be comparing apples to apples on your quotes.

Ask the dealers you are working with to give you a quote with only the first payment and taxes due up front.