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2016 X5 sDrive35i

texasbmwpleasetexasbmwplease Member Posts: 3
edited January 2016 in BMW
The dealers initial quote is as follows: MSRP: 64,120 Selling Price: 61,750 Downpayment: $5,000 Residual: 58% Rate: 4.25% (presumably a MF of .00177?) TX Tax: 6.46% (includes .21% vehicle inventory tax) 36 months/12k miles $841.36 What do you think of this offer? MF seems high to me and possible room to reduce selling price a bit more?
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    kyfdxkyfdx Moderator Posts: 237,153
    texasbmwplease said:

    The dealers initial quote is as follows:

    MSRP: 64,120
    Selling Price: 61,750
    Downpayment: $5,000
    Residual: 58%
    Rate: 4.25% (presumably a MF of .00177?)
    TX Tax: 6.46% (includes .21% vehicle inventory tax)
    36 months/12k miles

    $841.36

    What do you think of this offer?

    MF seems high to me and possible room to reduce selling price a bit more?

    That's not much of a discount, considering the $1500 manufacturer incentive on this vehicle.

    Base MF is .00132, so they are probably marking it up the maximum to .00172.

    Lease taxes in Texas are on the full selling price, so that's going to hurt, no matter what. But, I'd shop around for a better deal.

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    texasbmwpleasetexasbmwplease Member Posts: 3
    The revised offer is a selling price of $60,272 (6% off MSRP), with a rate of 3.75% (close to .00156 MF). Everything else remaining the same, for a total monthly payment of $757. Does this seem to be more market? Thanks for your assistance.
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    MichaellMichaell Moderator Posts: 241,289
    texasbmwplease said:

    The revised offer is a selling price of $60,272 (6% off MSRP), with a rate of 3.75% (close to .00156 MF). Everything else remaining the same, for a total monthly payment of $757.

    Does this seem to be more market?

    Thanks for your assistance.

    The base MF is .00132, so that is still marked up on you. Might want to reach out to another BMW dealer and get them to negotiate against one another for your business.

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    kyfdxkyfdx Moderator Posts: 237,153
    texasbmwplease said:

    The revised offer is a selling price of $60,272 (6% off MSRP), with a rate of 3.75% (close to .00156 MF). Everything else remaining the same, for a total monthly payment of $757.

    Does this seem to be more market?

    Thanks for your assistance.

    Are you doing a balloon program, like Owner's Choice? I wonder, because they keep quoting APRs, instead of money factors.

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    texasbmwpleasetexasbmwplease Member Posts: 3
    Yes, I have confirmed its OC. What are the implications with that versus a standard lease?
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    kyfdxkyfdx Moderator Posts: 237,153
    texasbmwplease said:

    Yes, I have confirmed its OC. What are the implications with that versus a standard lease?

    You see OC a lot in states that tax the full selling price of the vehicle. I believe it titles the car in your name, rather than the leasing bank, to preserve a trade-in credit, when the term is up.

    We don't see it a lot, but I can tell you that the base APR for OC is 3.25%

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