Good deal or not? - 2015 X5M

[smjsa79]

Hey guys,

Is this a good deal on a 2015 X5M?

MSRP: $109,995.00
Discount: $8,140.00
Customer Price: $101,855.00

DMV Fees: $799.00
Taxes: $4,495.84
Adjusted Cap Cost: $102,780.00

Term: 36 months
10k miles/year
0 down payment

Money Factor: 0.00171
Residual Balance: $61,597.00

Payment: $1549.75/month

First time leasing here!
Please let me know what you guys think
Any feedback will be appreciated!!!

[UrbanExtant]

I say no. I got a better deal than that on my 2015, back when 2015 was the only model year out. Now, it's the 2016s that are new. You should be able to get a much better deal on last year's model.

[SuddenDebt]

Originally Posted by smjsa79

Hey guys,

Is this a good deal on a 2015 X5M?

MSRP: $109,995.00
Discount: $8,140.00
Customer Price: $101,855.00

DMV Fees: $799.00
Taxes: $4,495.84
Adjusted Cap Cost: $102,780.00

Term: 36 months
10k miles/year
0 down payment

Money Factor: 0.00171
Residual Balance: $61,597.00

Payment: $1549.75/month

First time leasing here!
Please let me know what you guys think
Any feedback will be appreciated!!!

2 things seem wrong with this deal. The discount should be more, at least 15% for MY2015. The money factor looks high. I think it was .00131 in Nov. It could change in Dec but I doubt by that much.

SD

[vstM3]

residual is 58%, so it should be $63,797. Try to get it for 100K

[vstM3]

Also look into financing if you can afford this high monthly payment, it might be worth it more to finance than lease. The interest rate is less than leasing.

[UrbanExtant]

Originally Posted by vstM3

Also look into financing if you can afford this high monthly payment, it might be worth it more to finance than lease. The interest rate is less than leasing.

I second this. I purchased mine, and my monthly payment is equivalent to your lease payment, and I'll own mine outright in a few years.

[ARam]

Originally Posted by smjsa79

Hey guys,

Is this a good deal on a 2015 X5M?

MSRP: $109,995.00
Discount: $8,140.00
Customer Price: $101,855.00

DMV Fees: $799.00
Taxes: $4,495.84
Adjusted Cap Cost: $102,780.00

Term: 36 months
10k miles/year
0 down payment

Money Factor: 0.00171
Residual Balance: $61,597.00

Payment: $1549.75/month

First time leasing here!
Please let me know what you guys think
Any feedback will be appreciated!!!

Wow!!CONTINUE TO SEARCH ELSEWHERE!!!!I think mine was an Excellent deal when i saw your deal and others. I'm no LEASE expert and and i know when a deal is GOOD or NOT.... I careless about Money factors, Residual, Cap Cost, Lease Calculators and i'm not in a search of a deal teaching sales personnel that i know about leasing numbers.. My plan is to come up clean with the sales manager and tell them what you can afford and work around it....My plan was that i don't want to pay more than $1100.00 a month for an X5M. After working with several sales Managers directly (Avoid sales person bc there will be back and fort communication. Sales manager has the final said on the sale) they tend to give you better deal. 2 Weeks ago i put pen to paper and my deal was $1047.00 a month + First Payment and TAX.... 9K to drive off the lot... I understand your spec is $5000+ more but we are talking about $500 a month difference($18,000 in 36 months)... CONTINUE TO SEARCH ELSEWHERE!!!!

It takes time and making calls directly to differet Sales manager but it pays off in the end!

$1047.00 a month + First Payment and TAX
36month
10k a year
Total MSRP as Built $104,395

[TonySCV]

Originally Posted by smjsa79

Hey guys,

Is this a good deal on a 2015 X5M?

MSRP: $109,995.00
Discount: $8,140.00
Customer Price: $101,855.00

DMV Fees: $799.00
Taxes: $4,495.84
Adjusted Cap Cost: $102,780.00

Term: 36 months
10k miles/year
0 down payment

Money Factor: 0.00171
Residual Balance: $61,597.00

Payment: $1549.75/month

First time leasing here!
Please let me know what you guys think
Any feedback will be appreciated!!!

You can do better on the discount (dealers in CA are offering in the neighborhood of $18k off a 2015 X6M, so for 2016 X5M's you should be able to get $10k off fairly easily).

The money factor they are quoting you is also marked up significantly. Dealers often try this as a way to get extra profit because most people don't know what the base rate is.

The base rates for December are .00131 MF and 64% residual for 24 months, or a 58% residual for 36 months assuming 10,000 miles a year (residuals are 2-3% lower for 12k or 15k/yr). There is also a $1500 option credit for December. The additional $1500 Novemberfest credit was discontinued for December.

I'd insist on a $100,000 sale price (that includes the $1,500 option credit) and a .00131 MF. If they agree to both, that is a good deal. I they won't budge on the sale price, then insist on the .00131 MF (they call that the base rate money factor). They're making a decent profit on the sale price alone. There is a LOT of BMW marketing money being given to dealers to move X5's and X6's this month.

[vstM3]

Originally Posted by ARam

Wow!!CONTINUE TO SEARCH ELSEWHERE!!!!I think mine was an Excellent deal when i saw your deal and others. I'm no LEASE expert and and i know when a deal is GOOD or NOT.... I careless about Money factors, Residual, Cap Cost, Lease Calculators and i'm not in a search of a deal teaching sales personnel that i know about leasing numbers.. My plan is to come up clean with the sales manager and tell them what you can afford and work around it....My plan was that i don't want to pay more than $1100.00 a month for an X5M. After working with several sales Managers directly (Avoid sales person bc there will be back and fort communication. Sales manager has the final said on the sale) they tend to give you better deal. 2 Weeks ago i put pen to paper and my deal was $1047.00 a month + First Payment and TAX.... 9K to drive off the lot... I understand your spec is $5000+ more but we are talking about $500 a month difference($18,000 in 36 months)... CONTINUE TO SEARCH ELSEWHERE!!!!

It takes time and making calls directly to differet Sales manager but it pays off in the end!

$1047.00 a month + First Payment and TAX
36month
10k a year
Total MSRP as Built $104,395

I am not judging your deal in any way but I would highly recommend on your next purchase to look at all these things (money factor - is the interest you pay; residual values; negotiated price). Never go into a dealer with a monthly payment, there are multiple ways the dealer can make profits out of your hard working money. Looks like you got it for about 100K, 4K or so off MSRP. People are getting 10K or more off MSRP. Just fyi. Good luck!

[KMFX6M]

Originally Posted by smjsa79

Hey guys,

Is this a good deal on a 2015 X5M?

MSRP: $109,995.00
Discount: $8,140.00
Customer Price: $101,855.00

DMV Fees: $799.00
Taxes: $4,495.84
Adjusted Cap Cost: $102,780.00

Term: 36 months
10k miles/year
0 down payment

Money Factor: 0.00171
Residual Balance: $61,597.00

Payment: $1549.75/month

First time leasing here!
Please let me know what you guys think
Any feedback will be appreciated!!!

Hey man,

That's not a good deal at all. I got a cheaper deal on my 2016 X6M with an MSRP of $116,695. Also your money factor is totally marked up, should be .00130 or .00131. What dealer are you talking to? I live in OC and I was talking to almost every big dealer around here including LA area less than 3 weeks ago when I was getting my car so I kind of know the inventory around here

[UrbanExtant]

One thing to consider regarding money factor, is not everyone is eligible for the base rate. The rate offered is based on one's credit score, with a lower score equalling a higher money factor. We know nothing of the OP's credit history, nor do we have a right to. I agree, however, that even with a poorer credit score the money factor offered him is excessively high, and only done so to pad the dealership's pockets.

[aas5]

Check out Steve Thomas BMW in CA. They gave me by far the best deal and much better than I could find in NY and NJ. They are on this forum, too.

[shellbmb]

And remember you can also add security deposits to further reduce the money factor. For my M5 lease, I got base rate plus the additional discount with multiple security deposits. I forgot what it was exactly, but for every deposit (up to 7 I think) it decreases it by a certain amount. And it's not a down payment as you get the money back at lease end.

[cooks02]

Originally Posted by TonySCV

You can do better on the discount (dealers in CA are offering in the neighborhood of $18k off a 2015 X6M, so for 2016 X5M's you should be able to get $10k off fairly easily).

The money factor they are quoting you is also marked up significantly. Dealers often try this as a way to get extra profit because most people don't know what the base rate is.

The base rates for December are .00131 MF and 64% residual for 24 months, or a 58% residual for 36 months assuming 10,000 miles a year (residuals are 2-3% lower for 12k or 15k/yr). There is also a $1500 option credit for December. The additional $1500 Novemberfest credit was discontinued for December.

I'd insist on a $100,000 sale price (that includes the $1,500 option credit) and a .00131 MF. If they agree to both, that is a good deal. I they won't budge on the sale price, then insist on the .00131 MF (they call that the base rate money factor). They're making a decent profit on the sale price alone. There is a LOT of BMW marketing money being given to dealers to move X5's and X6's this month.

I don't mean to be a dance here, but what exactly is the " money factor " and how is it determined? Thank you in advance!

[vstM3]

Originally Posted by cooks02

I don't mean to be a dance here, but what exactly is the " money factor " and how is it determined? Thank you in advance!

Money factor is your interest rate. Multiply money factor by 2400. Base interest rate you get if your credit is good. If is not so good you may still qualify but at a higher rate.

[Salespunk]

Originally Posted by vstM3

Money factor is your interest rate. Multiply money factor by 2400. Base interest rate you get if your credit is good. If is not so good you may still qualify but at a higher rate.

.00131 is the base rate, ~.00161 should be available down to about a 630 credit score. No matter what this rate is marked up.

[Salespunk]

Originally Posted by smjsa79

Hey guys,

Is this a good deal on a 2015 X5M?

MSRP: $109,995.00
Discount: $8,140.00
Customer Price: $101,855.00

DMV Fees: $799.00
Taxes: $4,495.84
Adjusted Cap Cost: $102,780.00

Term: 36 months
10k miles/year
0 down payment

Money Factor: 0.00171
Residual Balance: $61,597.00

Payment: $1549.75/month

First time leasing here!
Please let me know what you guys think
Any feedback will be appreciated!!!

One other question, what are the "taxes" they are quoting you? Drive off's should be less than $3K including first month's payment. There is no tax on a lease in California since sales tax is collected with the monthly payments. Also does your payment include California sales tax?

[vicratz]

I got my new 2016 BMW X6 M for $125,000 incl tax and massive road tax here in AZ ( $1750 a year!) tax 8.3% on original price. I'd push harder.