Quote:
Originally Posted by JK READY
Hi all,
I have not leased a car before and wanted some insight from this forum.
I recently received an email from a local dealer in my area and they offered me to trade in my current X5 35i (2015 AWD) for a 2020 X5 40i.
Looks like my current car is worth around $23-25k. (idk how much the dealer will offer for the car)
They are offering the 2020 X5 with $0 cash out of pocket along with Receiving $5,000 toward the new vehicle.
Two offers including:
1. $1,000 BMW Loyalty Credit.
2. $4,000 BMW Preferred Customer Bonus.
I've looked at their inventory lot for the X5 and the price ranges are around $63 - $72k depending on the specs.
I guess my question is are the two offers from the dealer a good starting point to negotiate more down on a lease?
I have not looked into the MF factors or what the residuals are yet.
Inputs would be greatly appreciated!  |
You have plenty of room to negotiate since both the incentives are through BMW and take no money out of the dealers pocket, I would look at 10-12% off the MSRP before the incentives are factored in, they're motivated to get remaining 20's off the lots so your in a good spot to deal. Also the current market for used cars is very strong so you should get a decent trade in amount