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2020 BMW X5 M50i lease help

LOLFactoryLOLFactory Member Posts: 4
edited August 2020 in BMW
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.
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Comments

  • MichaellMichaell ColoradoModerator Posts: 212,195

    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.

    Edmunds Price Checker
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    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • LOLFactoryLOLFactory Member Posts: 4
    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.
  • MichaellMichaell ColoradoModerator Posts: 212,195

    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.

    Edmunds Price Checker
    Edmunds Lease Calculator
    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

  • LOLFactoryLOLFactory Member Posts: 4
    edited August 2020
    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
  • kyfdxkyfdx Moderator Posts: 212,042

    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

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

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