07-28-2020, 02:30 PM | #1 |
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NY/NJ/CT/PA X5 Deals? % Off MSRP?
Hi,
Not sure if this has been covered already but looking to get some input from the community on deals they've gotten in the Northeast. Looking to lease an X5 and what % off is reasonable? I've read people get 8-12% off MSRP prior to incentives. Anyone here who has recently purchased/leased an X5? What's a reasonable % off MSRP that I should offer?
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07-28-2020, 02:47 PM | #3 |
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Thanks
So basically start with 12%... but 10% seems like a good deal prior to incentives, right?
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07-28-2020, 03:15 PM | #4 |
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Pre covid 10 was good and 11-12 before incentives was an excellent deal. Now some dealers are barely budging from invoice which is 6-7% off because the demand is higher than inventory with the factory closures. Give a few months for it to normalize and it will be back to the pre covid rates.
Also it varies from model to model. There seems to be alot less build allocations for M50's and X5M's compared to the 40i. Before I got my X5M I had 11.3% off msrp before incentives for a M50i at Open Road BMW just to give you an idea. Alan
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07-28-2020, 03:31 PM | #5 |
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Yup. Another good rule of thumb is that 1% of the MSRP is considered an excellent deal, which is usually difficult to obtain (deal structured so that you pay taxes and fees up front). The closer you are to 1%, the better the deal. For example, for a $75K MSRP vehicle, $750/mo is excellent, granted you've paid taxes and fees.
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07-28-2020, 03:45 PM | #6 | |||
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Super helpful! Thank you for the input.
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07-28-2020, 04:21 PM | #7 |
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07-28-2020, 04:22 PM | #8 |
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Yup got that! Thanks again.
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07-28-2020, 05:17 PM | #9 |
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I got 9% in New Jersey on 21 m50i.
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07-31-2020, 12:08 AM | #11 | |
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Please PM me too. Also are you guys ordering '21 or getting 20 off the lot? I am hoping discounts would be deeper for '20s of the lot and better residuals?
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08-11-2020, 12:09 AM | #12 |
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Are you guys still getting these numbers, can we have some sample lease deals in tristate area please?
Based on my estimates, $71k MSRP with 10% off $0 down, and everything else due at signing with New York taxes comes out to $865, which is high compared to earlier years, but main reason for that seems to be the much worse residuals. I wonder if we will see better residuals towards end of the year.
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08-21-2020, 01:16 AM | #16 |
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Has anyone made any deal in last 7-10 days, what kind of numbers are you getting? Seems like getting 10% off is difficult unless dealer is trying to make month-end sales numbers.
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08-21-2020, 12:07 PM | #17 |
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Does anyone have any intel on purchases, rather than leases? Dealer is telling me only loyalty credit and $1000 off APR is available for 2021 X5 -- anyone have any thoughts on upping this ante? I didn't use a broker unfortunately.
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08-21-2020, 01:23 PM | #18 |
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There is also an event on BMW's US home page for another $1k off '20 and '21 purchases/orders. I think it ends tomorrow though but the coupon lasts until Jan. if you get one: https://summerdriveonprreg.eventsbmw.com
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08-21-2020, 01:55 PM | #19 | |
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08-21-2020, 07:22 PM | #20 |
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signed up an order for lease on a 2021 x5 xdrive40 with MSport - executive at al from northern nj dealer. Conducted a reverse auction. Contacted 7 dealers. Only had any real engagement from 3. Was able to get 9% off msrp plus an addition 750 rebate. Base MF. 699 doc fee (a bit steep). Had 10 percent off plus the rebate in PA and a 521 fee but decided it was not worth my while to drive 5 hours round trip. 8% off from another NJ dealer with base MF but wanted 1200 in doc fees. Not an easy process - like pulling teeth except for the PA dealer. done all on the internet but I had some time. I think if you wait a month or two you will be back to getting 12 percent off.
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08-21-2020, 07:31 PM | #21 | |
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08-21-2020, 08:54 PM | #22 | |
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I might end up extending my lease 3 months or so because I don't have the energy or patience to deal with these dealers, might as well wait and let them chase me when things slow down.
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