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2015 BMW X5 xDrive35i Lease in NJ, please advise if this is a good offer
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.
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.
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Comments
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.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
He told me that he can give 5% of on this price to arrive at the agreed upon selling price.
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.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
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.