Edmunds forums show the residual is 58% for a 2018 BMW X2 for a 36/12k lease term.
How did you arrive at 60%? Is that what the dealer told you? If so, then Edmunds may be off base since the dealer cannot change the RV.
Dealer told me its 60% for this lease.
Interesting… The edmunds thread for 2018 X2s make no mention of any lease period being 60%.
I know the dealer can’t lie about the residual… the contract won’t be funded.
What trim is it? s Drive or x Drive?
I’m honestly not sure if the RV is differentiated on these trims, all I know is I can’t find a 60% residual for either a 2019 or 2018 X2.
They should be trying to push the 2018 X2 hard… if this dealer is not playing ball, you should move on to a new dealer. The taxes bit seems a little weird as you pay taxes on the monthly payment…
Still many holes here you need to fill in, but if I assume 9% tax, base MF of .00188, a 14.5% dealer discount, $4250 incentives, $925 acquisition, and $550 in other fees, I come up with $445/mo with just first month at signing.
It’s xDrive. Edited original post.
You made some good points. I will clarify these with the dealer today, and mostly about how he got this figure and tax amount.
Thanks for the inputs.
60% appears to be for 36/7500.
Okay, I found it strange since OP stated they were getting 12k miles a year?
This one doesn’t have packages I want.
Dealer got back to me and stated that MF is .00228
Incentive or rebate breakdown - $3,250 to lease and $1,000 conquest = $4,250 total
time for another dealer. Not a great discount AND significantly marked up MF.
Others here saying you have the wrong residual. Any update on that?
With a little reverse engineering, my guess is they have also marked up the acq fee and tacked on a big doc fee. Around $1600 total. Again, though, I’m guessing on some other things like your tax and DMV. But with $1600 and using 58% RV and .00228 MF, I come up with $413 and $5k up front.
If you want to give this dealer a shot for whatever reason, counter with 15% discount BEFORE the $4250 incentive and base MF of .00188. Pay $3k up front in the form of 6 MSDs and ONLY first month at signing. I believe this will put you right at about $450 even with their marked up fees.
BMW doesn’t allow marked up acq fees and the max doc fee in CA is $85.
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ah. good to know. I could be off on tax. Still guessing since I didn’t get an answer to that question.
OR, lower fees that you mentioned, tax is correct at 9%, but RV is 57%? That gets me to those numbers, as well.
Contact Vlad /Bob (sales team) in Eastbay BMW…you will be surprised with X2 offers
new or loaner?
For reference I got a similar vehicle, I think our only difference is I don’t have the harmon kardon. Mine is 47k MSRP, xDrive 28i, premium, convenience, pdc. 1.7k DAS (400 went to broker), 436/month (including 9.5% tax). It was originally 1.8k, but I was refunded money by the dealer due to incorrect registration calculation (which I knew was incorrect during inception, but didn’t care and let them figure it out).
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The whole program is right here, go find a loaner
Do you know the selling price/incentives on your lease?
I got it delivered in Jan, but incentives were for December. 36/12k. I don’t remember the exact incentives I qualified for, but I know it was lease cash + loyalty and I had a higher residual before they lowered it. (somewhere like 4250 for xDrive lease cash and 1000 for loyalty?). Selling price was 41.1k. I believe it was around 12-13% off.