Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Did you get a great deal? Let us know in the Values & Prices Paid section!
Meet your fellow owners in our Owners Clubs

2015 BMW X5 xDrive35i Lease in NJ, please advise if this is a good offer

jack0812jack0812 Posts: 2
edited July 2015 in BMW
Hi everyone, I am looking to lease a 2015 BMW X5 xDrive 35i, and the dealer offered me the below:

Selling Price: $57,950.00
Aftermarket: $199.00
Customer Cash: $6245.00 (include first month payment,and entire tax amount collected in advance. Its 7% tax in NJ)
Term: 36 months
Money Factor: .00130
Mileage: 12,000 per year
Zero down payment towards the car
The residual value is as per BMW standard.

Monthly Lease Payment - $ 846.93 including taxes

Now here is what I tried to negotiate:
(1) Selling Price: He agreed to discount $3200 on the selling price.
(2) MSD: Said I can do 7 monthly payment as MSD, and it will bring down my rate of interest.

With the above, he said my monthly lease payment will be around $750 per month including taxes.
I asked him a lot of time what is the exact break-up of Customer Cash. If there is zero down payment towards the car, what is $6245 comprise of other than first month payment and all the tax collected in advance.

Please can anyone help if the above is a good deal, and what else I should ask dealer. Its my first time leasing.
Tagged:

Comments

  • MichaellMichaell ColoradoPosts: 124,199
    jack0812 said:

    Hi everyone, I am looking to lease a 2015 BMW X5 xDrive 35i, and the dealer offered me the below:

    Selling Price: $57,950.00
    Aftermarket: $199.00
    Customer Cash: $6245.00 (include first month payment,and entire tax amount collected in advance. Its 7% tax in NJ)
    Term: 36 months
    Money Factor: .00130
    Mileage: 12,000 per year
    Zero down payment towards the car
    The residual value is as per BMW standard.

    Monthly Lease Payment - $ 846.93 including taxes

    Now here is what I tried to negotiate:
    (1) Selling Price: He agreed to discount $3200 on the selling price.
    (2) MSD: Said I can do 7 monthly payment as MSD, and it will bring down my rate of interest.

    With the above, he said my monthly lease payment will be around $750 per month including taxes.
    I asked him a lot of time what is the exact break-up of Customer Cash. If there is zero down payment towards the car, what is $6245 comprise of other than first month payment and all the tax collected in advance.

    Please can anyone help if the above is a good deal, and what else I should ask dealer. Its my first time leasing.

    What is the MSRP?

    X5's are very popular and dealers are not inclined to discount them very much.

    Using MSDs is a great way to lower your payment. Your dealer has already quoted you the base MF (.00130), so your rate after 7 MSDs would be .00081.

    Continue to press them for the exact breakdown of the money due at signing - NJ taxes the sum of the payments of the lease and you can choose to pay it up front or add it to the cost of the lease. Other fees (bank fee, dealer fee, etc.) are usually due at signing. Bank fee is $795, but dealer may inflate it to $995 for extra profit.

    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

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • jack0812jack0812 Posts: 2
    Thank you Michaell. The Selling Price is the MSRP i.e $57,950.00
    He told me that he can give 5% of on this price to arrive at the agreed upon selling price.
  • MichaellMichaell ColoradoPosts: 124,199
    jack0812 said:

    Thank you Michaell. The Selling Price is the MSRP i.e $57,950.00
    He told me that he can give 5% of on this price to arrive at the agreed upon selling price.

    Thanks - if I use $57,950 as the MSRP, $55,053 as the selling price (5% discount), .00081 MF (max MSD) and 57% residual, I get a payment of $683/mo before tax.

    The 7 MSD's would cost you $4900 up front (payment rounded up to the next $50), in addition to any other up front costs, fees and taxes. If you choose to roll those into the cap cost, then the payment will go up accordingly.

    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

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • tonka858tonka858 Posts: 112
    USAA and True car discount 5k on that car. I have no probelm in So Cal getting a dealer to do that.
    But 2016 is now available so I will work a deal on 2016.

    The BMW deal on the web site is better even if you don't put down the $3500 that should add around $100 a month to the car making the payment on a 59k car $780 thats with no deal at all.
Sign In or Register to comment.