03-22-2014, 06:00 PM | #309 |
Registered
0
Rep 2
Posts |
I'm looking at an X5 xDrive 35i. Add-ons are premium package, rear-view camera and third row. I'm being quoted $859/month at a well known urban BMW dealer in the Northeast for a 36-month, 10K miles/year lease (around $6K due at signing). Higher than I expected and seems quite high compared to others here. What would be a good deal for this package? Thanks a lot.
|
Appreciate
0
|
03-22-2014, 08:10 PM | #310 | |
Colonel
576
Rep 2,353
Posts |
Quote:
|
|
Appreciate
0
|
03-22-2014, 08:48 PM | #311 | |
First Lieutenant
32
Rep 338
Posts |
Quote:
|
|
Appreciate
0
|
03-22-2014, 08:49 PM | #312 |
Private First Class
20
Rep 179
Posts |
I am always shocked that people focus on monthly payment when negotiating a car lease. When leasing a car you pay depreciation plus interest for keeping someone else's property for a certain period of time. Always focus on the final negotiated price of the car (just like you would when paying in cash). You should agree on a price that is lower than MSRP. If the MSRP is $10,000 and residual 60%, you will pay $4,000 plus interest (money factor) during the lease term. Assuming $500 down and 0% interest for now, your payments will be $97.22 a month.
[$10,000 - $6,000 = $4,000] But if you are able to negotiate a better price, say $9,000, then you get a better deal because the difference between residual (which does not change) and your negotiated price (which can always change) are now smaller. Your new payment would be $69.44 a month. [$9,000 - $6,000 = $3,000] Another point to remember is the money factor. This is the interest rate charged. Find out what is the rate and negotiate a lower one when possible. |
Appreciate
0
|
03-22-2014, 11:18 PM | #313 |
Private
9
Rep 53
Posts |
0 for 3
Been hearing the same story up and down the east coast since nov. Blah blah blah .... Only 1 X5 available in the US (I'm exaggerating) .... Blah blah blah ..... I can't sell you this car for that price ..... Blah blah blah .... My allocations have been sold for close to MSRP .... Blah blah blah ..... Don't trust the prices on those forums. Frustrating!
|
Appreciate
0
|
03-23-2014, 08:53 AM | #314 | |
Private
9
Rep 53
Posts |
Here is an interesting sales metric
Quote:
Still searching for a dealer in the South/Northeast that is willing to accept margins in the "unusually low" region of the bell curve. |
|
Appreciate
0
|
03-23-2014, 11:40 AM | #317 |
Captain
397
Rep 714
Posts |
Question for any experienced finance people...is it better to lease then purchase at residual or finance directly at purchase? I always lease but think I may purchase as I may keep the vehicle longer than usual. If its a wash I guess leasing provides some sort of greater option after 3 years.
|
Appreciate
0
|
03-23-2014, 08:04 PM | #318 | |
Colonel
576
Rep 2,353
Posts |
Quote:
|
|
Appreciate
0
|
03-24-2014, 12:01 PM | #321 |
Private
4
Rep 54
Posts |
|
Appreciate
0
|
03-24-2014, 01:21 PM | #322 | |
Major General
3243
Rep 5,066
Posts |
Quote:
Also on the money factor subject.. I thought it was not negotiable when financing with BMW NA. |
|
Appreciate
0
|
03-24-2014, 03:35 PM | #324 |
Private First Class
20
Rep 179
Posts |
Money factor at 0.00081 x 2400 = 1.94%. This seems like a good interest rate. If the previous comment is correct (you cannot negotiate money factor from BMW financial), then the only thing you can do is to get the best below-MSPR price you possible can.
|
Appreciate
0
|
03-24-2014, 03:37 PM | #325 |
Private First Class
20
Rep 179
Posts |
|
Appreciate
0
|
03-24-2014, 04:21 PM | #326 | |
New Member
2
Rep 18
Posts |
Quote:
|
|
Appreciate
0
|
03-25-2014, 12:07 PM | #329 | |
Private
4
Rep 54
Posts |
Quote:
I think that's a good deal so long as your taxes/fees add up to ~$2350. |
|
Appreciate
0
|
03-29-2014, 07:32 AM | #330 |
New Member
2
Rep 7
Posts |
Got a great deal on a X5 35d from Christine Kick at Orange County BMW in Harriman, NY. I paid $1000 over dealer invoice, minus $500 drive credit locked in from February. Leased it for 36 months / 15,000 miles per year at base money factor (.00130) and 57% residual. Placed order Feb. 28th and X5 arrived at dealership on Friday, March 21st. I picked it up on Tuesday. It is an awesome ride, much improved over my 2011 X5.
|
Appreciate
0
|
Post Reply |
Bookmarks |
|
|