Hey guys, seriously considering this deal, curious your thoughts on it (first time leaser here).
2016 X1 28i
MSRP - $43495.00
Sales Price - ?
MF - .00134
Residual - 63%
$6,026.69 due at signing ($2995 down; $3,031 upfront sales tax, doc, acq, dmv fees)
$298.02/mo 10k/36
How does this look? Sorry if I forgot any pertinent information. Thanks in advanced!
Well its really 390 a month plus fees and such and its a 2016. I think you could do a lot better in my opinion.
@NY13 Thanks a lot for the advice. Do you have any suggestions on how I can best approach a better deal? Work on the Sales Price? Thanks again.
Yup ask for better discount
Hi @pahosa
I just leased a 2016 BMW X1 - about one week ago. Here’s the deal I got for you to compare the offers you are seeing. I definitely think you can negotiate a strong discount off the MRSP, but I shopped around many dealers before landing on this.
2016 BMW X1 - includes nearly every package excluding M Sport and Handling packages
MSRP: $ 46,095.00
Selling Price: $ 38,060.00
Prior Lease Balance: $ 478.00
Cap Reduction: $ 439.89
MSD (7): $2,450.00
First month payment, fees, taxes, etc: $ 1,867.04
Total due at signing= $ 4,756.93
MF: .0008500 (with MSD)
Residual: 62%
36 months, 12k miles/yr
Monthly Payment (Excl. Tax): $ 321.10
Monthly Payment (incl tax): $ 350.00
I’m in Los Angeles, by the way.
*This is my first time posting here so go easy on me for doing the cap reduction…I know I should have avoided that.
Hope this helps.
Thanks for sharing @Sav
Seems like a pretty solid deal to me and definitely helps me put some actual comparison numbers to my current deal. When shopping around, did you shop around physically going to dealer to dealer or via email? And was there much negotiation getting to the $38k selling price?
Thanks again, this is the most valuable information i’ve gotten so far during the process and will equip me more when working out my deal.
This is nothing, good job on the deal!
I did everything via email/texts, and would recommend only dealing with Internet sales departments. That should save you a lot of time- no reason to be at a dealership besides test driving, until you’ve already firmed up a deal. Personally I feel a lot less pressure when I’m negotiating via email or text. You can ask for the moon, and the worse that can happen is they say No.
My strategy was to start by asking 5-6 different local dealerships in LA for their best offers on identically-equipped X1’s. One dealer was having a “managers” lease special on a specific model that was substantially better than the other offers. I took their numbers to another dealer and asked them if they could beat it, which they did. Two additional dealers I spoke with said that they could not even get close to this. That felt like anecdotal evidence that I was getting the best deal I could. Still ended up having to negotiate further in person, but definitely saved time by doing most of it before hand.
Good luck!
Thank you! @chrisgo
Look at truecar pricing too as a way to gauge the selling price before rebates. Just click off the rebates and then see what rebates you qualify for. A combination of emails and in person visits would work best. Again, you should run your numbers first to see what they are before approaching dealers.
The case against cap cost reductions (down payments) is highly exaggerated, especially for small ones. Don’t sweat it.
@Sav I’ve started to do this this morning, appreciate the advice. The car above actually sold last night, so kinda back to square one so reaching out to all local dealers and asking them for best price per your suggestion. I am getting some resistance in wanting to discuss via email, but will stay persistent. Thanks again.
@NY13 Thanks for the input on Truecar I will check that out too which I am assuming will help me determine a target sales price when speaking with these associates via email.
Thanks all for the help! Really valuable stuff right here.
Just because a car sold doesn’t mean it was a good deal, lots of people are overpaying for car leases (apparently) so don’t give up.
If you want to overpay, I’m sure there will be a ton of dealers that will work with you but that is not what we do here 