12-02-2015, 07:53 AM | #1 |
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Good deal or not? - 2015 X5M
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!!! |
12-02-2015, 08:05 AM | #2 |
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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.
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12-02-2015, 08:38 AM | #3 | |
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12-02-2015, 08:40 AM | #4 |
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residual is 58%, so it should be $63,797. Try to get it for 100K
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12-02-2015, 08:45 AM | #5 |
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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.
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12-02-2015, 09:13 AM | #6 |
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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.
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12-02-2015, 10:04 AM | #7 | |
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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 Last edited by ARam; 12-02-2015 at 10:23 AM.. |
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12-02-2015, 10:16 AM | #8 | |
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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. |
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12-02-2015, 11:26 AM | #9 | ||
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12-02-2015, 12:07 PM | #10 | |
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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 |
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12-02-2015, 12:09 PM | #11 |
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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.
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12-04-2015, 08:11 AM | #12 |
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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.
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12-04-2015, 10:57 AM | #13 |
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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.
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12-11-2015, 08:46 AM | #14 | |
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12-11-2015, 09:30 AM | #15 | ||
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12-11-2015, 04:32 PM | #16 |
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.00131 is the base rate, ~.00161 should be available down to about a 630 credit score. No matter what this rate is marked up.
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12-11-2015, 04:34 PM | #17 | |
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12-19-2015, 03:30 PM | #18 |
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Not great deal
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.
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