I’m hoping to help my parents with choosing a luxury mid sized SUV.
They’ll be looking for 10K miles per year.
They have a 7% tax rate.
I told them I liked my demo 3 series so they initially looked at the X3 and were ready to lease. They sent me some numbers on that, and I offered some high level feedback. Unfortunately they didn’t have all the numbers but the gist of the deal that originally sent me was:
2017 BMW X3 $54,295 MSRP
$2000 Down & $600 a month with tax in.
Dealership offered a $4,000 discount from MSRP.
I told them I thought they could probably get this lower… they had MF listed for .00181 which I believe is slightly marked up. Also I thought they could probably get more discounts since BMW is already offering $1,000 on X3 leases.
I had casually mentioned the new XC60 looking really nice and they may want to wait for that. Well that planted the Volvo seed in their mind and they went in to look at the 2017 XC60. I don’t have details on this one, but the high numbers I got from them was:
2017 Volvo XC60 $50,000 MSRP
$999 down and $496 per month with tax in
Dealership offered a $8,700 reduction from MSRP so my parents assumed it was a great deal.
I told them that regardless of price, this may not be a great deal just because of how much better the '18 model is going to be over the outgoing '17. But that aside they should be looking for a much lower payment. If they move in this direction, I’ll advise them about the Costco deal.
My 2 questions:
Specific to those 2 cars - where should I be targeting monthly payments?
Hey Max - thanks for the reply. Those XC90 deals are great. Unfortunately they do not have a very large garage and do not think the XC90 will fit. I told them they could probably get the XC90 for less than the XC60 but they’re worried about fitting the car in the garage and having any extra room.
If the XC90 doesn’t fit, check out the Acura RDX (again, search is your friend). To be honest, neither the X3 nor the XC60 are super luxurious; if your parents are not stuck on a ‘premium’ badge on the rear, check out the deals on the Toyota RAV4 – probably the best value among 5-seater SUVs and crossovers.
The new X3 (available in a few months) will be a huge improvement over the 2nd generation models. I doubt there will be much in the way of incentives on the new BMW while demand is high.
The 2018 XC60 Inscription was pretty nice…great mix of luxury and technology. I suspect there will be stronger incentives by year end or early next year. The XC90 leased very poorly when it came out and look at the incentives now.
Hi @Ultgar - unfortunately my parents are looking at 2 cars that are going to be completely re-done as 2018 models - what are the chances . My personal opinion, but compared to the incomings models the outgoing X3 is better than the XC60. IMO incoming XC60 is so much improved it makes the outgoing model a tough choice.
@einandrew & @vhooloo - thanks for your suggestions, I’ll make sure to pass them along.
While trying to determine what cars in the class may lease well I put together a spreadsheet that compares all of the SUVs in the class and their advertised offers. Would that be helpful to post in the Wiki?
Get them to do a test drive and ask the salesperson to let them drive to their house and see how easy or hard it is to get it into the garage. I bet the salesperson will agree as long as it isn’t a crazy distance from the dealership.
My dad once test drove a 3 series to his house 10 miles away (with the sales guy in the car) so he could see if his golf clubs would fit in the trunk.
. My personal opinion, but compared to the incomings models the outgoing X3 is better than the XC60. IMO incoming XC60 is so much improved it makes the outgoing model a tough choice.