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BMW 2016 X3 Lease residual adjustment for dealer demo
If the July 2016 residual for the X3 is 65% for 36/12k, how is the residual calculated for a dealer demo with 10,000 miles leased through BMW Financial as a new car. In the past two duo leases I have agreed to use a .20 cent/mile reduction to the advertised residual due to large reductions below MSRP. I am being asked now for .25/mile. Is this correct? What is the dealer's cost? Is it a fixed cost regardless of miles over 500?
Thank you!
Thank you!
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The dealer doesn't have a cost on residual reduction. The residual is set by the bank.
So, when negotiating purchase price on this vehicle, you should be at least $2500 lower than on a brand-new unit. I'd want more reduction than that, or why get a demo?
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It's much easier to figure a competitive payment on a new unit, then hope to beat that by $50/mo. or more on the demo. With the demo using the new car program (minus the mileage reduction), you can calculate a lease just like you do on the new one.
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I wish you luck.
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