doge

I went to check out a BMW X5 today,

I picked the following options

Xdrive 35i
X Line
Mineral White
Mocha Dakota Leather
Cold Weather Package
Drivers Assistance Plus
Drivers Assistance Package
Premium Package

Car totaled to 66,600

36 Mo x 22K miles a year

They wanted $1082 a friend a dealership across town got it to $1,029,

Is there room for negotiation or is this a deal?

RNM GS3

22k miles?

If u mean 12k then that is a horrible deal.
Pmt should be in 700s

doge

Yes 22k miles I drive alot,

TangoRed

Are you putting money down or no?

doge

No money down.

TangoRed

Smart choice. In that case the lease deal seems about right given the high mileage. Have them throw in a wheel/tire warranty and call it a day ( can't remember if the xline has low profile tires).

pbm317

I really don't know why people insist on asking if a deal is good when looking solely at monthly payments.

In order to properly examine a lease deal you need to consider MSRP vs Selling Price, and the residual and money factor that you're getting.

Are you utilizing BMW's Multiple Security Deposit option to buy down that money factor rate?

22K miles a year... is that really ideal for a lease?

Luckily Illinois finally changed their tax laws on leases.

TangoRed

Good point- I was assuming the 66k was the selling price, not the MSRP. And I agree on the mileage- I've heard of one other person doing that and that's because his company was writing it off. That's why I said that deal sounds about right...but in reality if you don't understand all the terms of the lease I'd talk to your financial advisor.

bitkahuna

iTrader: (20)

so if $1082 for 22k mi./yr

let's suppose it's $782 for 12k mi./yr

so that's $3600/yr for $10k mi or 36c a mi.

seems expensive?

SW17LS

X5s don't lease very well in general. Helped two friends last year negotiate deals on them, leases aren't great. 5 Series leases MUCH better at similar price points. $780 for 12k miles a year is actually low. That car will be in the mid $800 range even with 10-12k a year mileage.

Never lease a car with 22k miles a year. You're better off to just buy that car. If you're driving 22k miles a year you really shouldn't be leasing. 5 years at 1.9% interest payment is $1,156.54. If you lease for a business tax deduction the X5 qualifies for the bonus depreciation being over 6,000 lbs GVWR, so you'd be better off buying anyways.

RNM GS3

X5 was new model last year and inventory was limited as production ramped up.

Plenty of great deals available.....just not at 22k miles per year

SW17LS

Both of them got great deals on the purchase price of the cars, the issue was the lease terms weren't very good.

Fizzboy7

22k miles per year makes this something not worth leasing. You will be paying out more $ in the end if you add it all up.

RNM GS3

Lease terms are never good on vehicles that just came out due to high demand and limited production, therefore manufacturers set residuals lower and MF higher.
This applies to all car makes......

Residual on X5 is 60% + now, so plenty of deals avail.......

SW17LS

This was like 2 months ago, not when the X5 came out and I just pulled up the lease rates for the X5...they're just not very good.

36 months, 10k miles 62%...thats okay but the MF is .0038...which is terrible.
36 months, 15k miles 56%...which is not very good, MF is .00125 which is still not very good. Thats the same MF and residual that it was when I helped him shop for his. He wound up buying it.