02-05-2020, 04:05 PM | #1 |
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X5 40i Lease negotiation - am I at my max, or shall I keep going?
Featured on BIMMERPOST.com In NJ and negotiating an X5 40i lease. MSRP on the build is $73,695 incl destination before NJ tax of 6.625%. I'm putting down 7 MSDs, getting me to .00107 MF. 12k mi lease (56% res) After a couple back and forth, I'm at 11% off MSRP, $2,750 in rebates ($1,250 loyalty, $500 lease, $1,000 BMW lunar event - said he can apply it to custom build). With $0 up front aside from fees, I'm at $758/mo. I usually like to stay under 1% of MSRP for my payment, so wondering if I can squeeze them for an extra $30-$60. Ideally getting it at $699/mo would be a major win, but is that even reasonable? What do you all think? Also, I dug into the drive off, they had some dealer options like nitro fill and etching that I politely declined (told them basically if I sign the deal, its a custom build, so when it comes in, I wouldn't want you doing those things). Also, dealer doc fee is $599. Sounds a little steep, thoughts? I know NY is capped at $75, but NY doesn't do MSDs, so not going through an NY dealer. |
02-05-2020, 10:08 PM | #4 |
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Squeezing them for an extra $30-60 per month might be challenging if you're getting 11%. You'd need to get them to take another 3% off to be around $700ish.
If the residual was up 1%, your monthly payment would be approximately $20 less. If the MF was down to 0.00128 and with 7 MSD, you'd only shave approximately $15. There's not any additional leasing incentives beyond what you're getting. If you're a BMWCCA for at least 6 months, you're eligible for a $1K rebate check from BMW after delivery. There's also $500 if you're a USAA member.
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02-06-2020, 12:28 AM | #5 |
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If you're getting 11% off before incentives in February, take that in a heartbeat. That sounds pretty bottom line to me in this climate. Also, just keep in mind for the Lunar New Year incentive to apply, you need to take delivery of the car by March 31st. With an approx. 6-week total delivery timeline, you would need to place your order pretty soon to close before that date. Good luck!
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02-06-2020, 08:06 AM | #6 |
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Thanks all for the feedback. Sounds like I did good. Hoping to drop by tomorrow to test drive an X5 and place an order. I can always be flexible on an option or 2 in my build to really get me to $700 if I need to be.
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02-06-2020, 08:33 AM | #7 |
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Think long and hard about that. The few dollars you save may not be worth compromising the vehicle that you want. In my opinion, when. you are spending this amount of money a little more is worth it to make sure you get exactly what you want.
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02-06-2020, 01:56 PM | #8 |
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The "1% rule" is not an actual thing. It does nothing to help you determine if you're getting a good deal or not. For some cars 1% payment of your MSRP might be a great deal, and for other cars it might be an absolutely awful deal. Don't be married to this 1% thing and end up compromising on the car you want.
Case in point - 1% on my X5 when I ordered it would have been incredible and very unrealistic. However, 1% on my M340i would be quite a weak deal because so many others (as did I) were able to get below that. What determines if you're getting a good deal or not is how your deal compares to others of the same car and region. In your case I think you did very well. 11% off pre-incentive with buy-rate money factor is up there with some of the better deals on an X5.
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02-06-2020, 02:55 PM | #9 |
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Thanks all. Hoping to have a great test drive tomorrow and put pen to paper.
Just a question to anyone who isn't in a state with capped dealer doc fees. Is $600 a reasonable amount or steep? I don't recall from my last couple leases. I know it's not a big number, no way it would be a deal breaker, but just getting your thoughts. Appreciate it. |
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02-06-2020, 03:00 PM | #10 | |
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02-06-2020, 03:44 PM | #11 | |
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Past BMWs - '20 740i, '20 X3M, '19 540i M-Sport, '19 440i GC M-Sport, '18 M3 Comp., '18 X5 sDrive35i, '18 340i, '17 X3 sDrive28i, '15 335i xDrive Sport Line, '14 428i Coupe |
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02-06-2020, 06:35 PM | #12 |
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The $758/mo that the op mentioned, is it before any tax, interest,etc? What is the actual all in monthly payment? I’m not familiar with leasing and am considering it over buying because I’m leaning towards x6 now over x5. And I probably don’t want to keep the x6 for over 3 years.
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02-11-2020, 02:29 PM | #13 |
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That looks like a great deal, enjoy it. I really missed the boat on the lunar event, I didn't know about it and apparently it's now closed . My lease 2017 X5 lease ends in April and I'm just starting the process of trying to negotiate a deal on a 2020. Hopefully I can come up with something close to this as I'm looking at a build in the same ballpark price wise.
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02-19-2020, 10:20 AM | #14 | |
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