2020 BMW X5 M50i lease help

LOLFactory

Hello! This is my first BMW as well as first least. I’ve been browsing around and lurking on all the forums for awhile now and have finally decided to move forward and start reaching out to some dealers. I was able to find a decent deal but was wondering if the more experienced could help me out to see if this is actually a good deal or not.

I’ve been looking at 2020 BMW X5 M50i. Below are the details that I was offered:

Location: SoCal at 92604
MSRP: $96,395
Selling Price: $91612 (~5% off MSRP)
Months: 36
Miles/year: 15k
Residual: 52%
MF: 0.00139
MSD: None (I am considering putting it down as I haven’t found any extreme circumstance why this is bad yet)
Down: $0
Incentives: $3000
Acq Fee: $925
Dealer Fee: $905
Sales tax: 7.75%

Monthly w/ tax is $1,360 and drive off is $3,585.

Michaell

LOLFactory said:

Hello! This is my first BMW as well as first least. I’ve been browsing around and lurking on all the forums for awhile now and have finally decided to move forward and start reaching out to some dealers. I was able to find a decent deal but was wondering if the more experienced could help me out to see if this is actually a good deal or not.

I’ve been looking at 2020 BMW X5 M50i. Below are the details that I was offered:

Location: SoCal at 92604
MSRP: $96,395
Selling Price: $91612 (~5% off MSRP)
Months: 36
Miles/year: 15k
Residual: 52%
MF: 0.00139
MSD: None (I am considering putting it down as I haven’t found any extreme circumstance why this is bad yet)
Down: $0
Incentives: $3000
Acq Fee: $925
Dealer Fee: $905
Sales tax: 7.75%

Monthly w/ tax is $1,360 and drive off is $3,585.

Observations:
1. MF is marked up the max allowed (base is .00099). Tell the dealer you want the base MF, or you'll shop elsewhere
2. Don't know what kind of discounting is possible with these, but look here for help: https://www.edmunds.com/new-cars/
3. Do you have a breakdown of the drive off costs? In CA, we recommend first payment and DMV only - maybe $2000-2500
4. CA caps the dealer fee at $85 by law, so I'd ask why they want $905.

Lots of room to improve on this initial offer.

LOLFactory

Thanks for the quick tips. I'll reach out to him regarding the base MF and also regarding the drive off breakdown and the dealer fee. I was wondering why the dealer fee was high compared to other posts I saw but didn't realize there was a law that caps it.

Michaell

LOLFactory said:

Thanks for the quick tips. I'll reach out to him regarding the base MF and also regarding the drive off breakdown and the dealer fee. I was wondering why the dealer fee was high compared to other posts I saw but didn't realize there was a law that caps it.

CA is one of a few states that does.

LOLFactory

So the dealer got back to me saying that since there's such few in stock right now, he doesn't have much wiggle room and can't discount the MSRP or give me base MF. I guess it's time to go find another dealership unfortunately. It was difficult to find a model with the right specs/pkg though.

I was incorrect about the dealer fee. That was actually the govt fee. Dealer fee is $85.
Drive off broken down:
- First Month Payment: $1,360
- Down Payment: $0
- Upfront Fees: $1,915
- Upfront Taxes: $311

kyfdx

LOLFactory said:

So the dealer got back to me saying that since there's such few in stock right now, he doesn't have much wiggle room and can't discount the MSRP or give me base MF. I guess it's time to go find another dealership unfortunately. It was difficult to find a model with the right specs/pkg though.

I was incorrect about the dealer fee. That was actually the govt fee. Dealer fee is $85.
Drive off broken down:
- First Month Payment: $1,360
- Down Payment: $0
- Upfront Fees: $1,915
- Upfront Taxes: $311

That makes sense. $905 for DMV