So I am struggling a little here - I have bought and leased BMW’s for about 15 years. I was interested in upgrading my wife’s X1 to the F15 X5 to let the bugs get worked out of the redesigned 2019 + the incentives will be scarce to become an early adopter.
The problem I am running into is hitting anything close to 1%. I do live in TX, which without tax credits is almost unattainable. I can likely get access to them, but from a selling price standpoint is anyone seeing anything over 15-18% on new cars, not demos?
The marked up money factors in TX are never fun and are a pain to negotiate around, but the selling prices seem to be somewhat in line around 18% after incentives (USAA $500, BMW option credit of $1,000 and $1,000 loyalty - does this require being financed w/ BMWFS or just having one in your house?). Am I missing any for the month of October? I know they are going to change in a few days and fear that the residual will likely decrease in Nov/Dec plus the inventory will continue to be picked over.
Am I crazy to be looking for a less than 1% deal on a new 2018 X5 lease, 36/10?
I am in the boat as you. Tried to find a decent lease but without much luck. But after asking for some advise here on LH, going to go the find the best deal you can get off MSRP and then go with the BMW owners choice program (of course am in the marker for an PHEV so the Xdrive40e).
I am in Dallas - the starting problem is the markup of money factor from .00186 to .00203 and tax credits likely not arriving until November/December.
The current offer I have is $66,485 with a selling price of $55,185 (17% inclusive of all incentives - new vehicle, not demo). The doc fees are all in line, but the MF is marked up getting to a payment of $810/month even with that selling price. I have always run into this problem in TX, but dealers will not go at a base MF. This seems crazy to me, because we get charged the sales tax on the full selling price of vehicle at 6.25% plus county which equates to somewhere around 6.35%. This $810/month is with only first month at drive off and all taxes/fees rolled in.
I do have a trade that I will take the equity and put in my bank account (not roll into lease) and that will lower my tax liability to 2100-2200 from 3600+, saving about $41 a month. So out the door with the current selling price I am $768, which seems high.
The sales tax on this equates to roughly $100.90/month before reduction by $41, but even then I am not to a 1% of MSRP deal. It is almost like you need to get to a 19-20% off MSRP, 59% residual w/ no taxes in TX w/ base MF in order to achieve this. This seems insane on a G05, but shouldn’t it be doable on a F15?
Have you looked into BMW Owners Choice instead of leasing? You should use this as it’ll work like a lease but puts the car in your name so you can get the Federal and State rebates. It might reduce the discount slightly but the extra $6k in rebates should more than make up for it.
I’m in Houston and got the best deal on my BMW from Tyler, they’re a smaller dealership though. I hear that sales tax credits are easier to get around DFW in Nov/Dec.
If you are willing to travel to Houston (dont know if you are already there) Woodlands BMW has 2018’s discounted by 10-15k right out of the box.
Some demo vehicles are discounted by as much as 18k (Ex: MSRP X5 s35i 63k MSRP for 45k)
I did work some numbers with them (especially with Loyalty+BMW CCA + Corp) and it was close to about 0DAS, 529/mo
They already have an offer for NEW 2018 X5 on their main page for 1325DAS, 599/mo which falls under the 1% rule here.
TAX INCLUDED (Tax rebates)
I am in Dallas, but would be willing to drive down and get it. Now I have to pray that they have one with a third row, which is what I need. I didn’t see any on their site.
Thank you for the help nonetheless - this is exactly what I am looking for. Amazing the AutoNation dealer in Dallas won’t match this and they do have what I want…
Well that didn’t go well, they sent me an offer that was double the price of the advertised deal even when I spelled out all of the terms…
Waiting for their response as I went back and gave them a full breakout. I mean THEY are the ones who advertised the deal? I am lost as to where to go - all the Dallas area dealers even the one I have bought cars from for 15 years are quoting 900-1200 on outgoing X5.
Did I jump the gun? Is this a better conversation to have at the end of November or December?
Why won’t you try and use Owners Choice if it gets you a better deal with the same advantages as a lease? Owners Choice means YOU get the Fed and state tax rebates (which I think total $6k+), but you should still be able to get a similar discount and incentives. The other benefit is if you choose to buy the car after 3 years you don’t pay tax again as you would with a lease buyout in Texas.
With EV and hybrids you need to do way more research and reading as they’re more complicated, but the Owners Choice option is a really big advantage if leasing EV/hybrids with BMW and Mini.
I am looking at the sdrive 35i not 40e so if I can get tax credits there will essentially be no difference. The taxes on the vehicle are only around 3200-3600.
The difference in incentive is $1,000 for 35i and $2,750 for 40e.
Sorry I got my wires crossed, there was another guy from Texas who was looking for a 40e so Owners Choice made sense for him, I thought this was similar.
But if you need the 3rd row then that rules out the 40e, and a lot of the X5’s. The deal dfwguy posted looked great but not sure if they have any with 3rd row. Not a lot of higher end options with those seating options that lease well.
A couple of weeks ago I test drove a Discovery Sport which had the 7 seat option, they’re heavily discounted and incentivised at the moment. I did the maths and they’d be in the $400’s p/m even with Texas taxes, but the infotainment system is really poor.
yeah I saw that the page disappeared, I’m going in tomorrow to see what condition the lower end loaners are in. Never seen them push the Owners Choice option as their preferred financial product, that’s probably what I would go with anyway.
I noticed that it has disappeared as well. Guess they don’t want to sell for that price just using it to get people to call or email. I was pretty pissed off when talking to the sales manager after the offer I got. I spent time talking to sales guy and it’s like our conversation was never even had when he sent me a $1100/month offer on the outgoing model lol…
I spoke with Sales rep, he told me they cannot give me the quote without running my credit. Then I reached out to manager, he wants me to visit in person. I was looking at a Loaner with 4600 miles on it.
