Thanks to loberant I’ve been considering a BMW X3. Went to the dealership today to test drive one, and got an offer to lease. Here are the numbers, could someone let me know how they look? I’m not excited about having a down payment but the price looks pretty ridiculous.
It was a 2017 BMW X3 xDrive28i, Driver Assistance package, Lighting Package, Premium Package, heated front seats, Navigation, 36 month, 12k miles/yr.
Breakdown was:
MSRP 49445
Discount $6600
MF 0.00065
Residual 63%
Customer cash $4800 (Confirmed that this is total due at signing)
… Cap reduction 1019.17 (not thrilled about this)
… 7x MSD = 2800
… The rest is registration, first payment, etc
Well initially they gave me numbers for a 2016 with less features and 7k miles on it for over $500/month. Then I mentioned the $400 number and it was 10 minutes before closing and they came out with that offer. The guy pretty much said he couldn’t even budge $100 on it, which I’m inclined to believe since I didn’t think they’d come down even that low. Was really hope they could at least get rid of the $1k cap reduction.
I actually didn’t even get into specifics on the rebates. He asked who my insurance carrier is and unfortunately its not USAA. Also he asked what company I worked for and apparently that didn’t qualify for anything either. I believe I get the holiday promotion but that’s probably it.
Well invoice is about $44,995 on that car, so $4,500 + $1,000 holiday rebate give $5,500. So they are $1,100 below invoice on the car. I got $2,000 below on an X3 last week.
The MF is off as well, it should be 0.00085 after 7 MSD’s (Maybe it is different for the 2.8, mine was 3.5.)
By customer cash, do you mean drive off? What is included in that?
Interesting. If I could get 2k below invoice that’d be pretty close to zero cap reduction which is what I’m looking for. How much was your lease and which area are you in?
He said for the MF that 0.00065 was pretty much them breaking even on that. I’m still learning the jargon, so excuse the confusing information.
For Customer cash, as I understand it, that includes cap reduction + drive off fees (dmv, first months payment, etc) + MSDs. Basically I’d be paying $2k out of pocket + the MSDs.
wow! 462 for a 61k car seems pretty good. I’m not even sure I should be spending anywhere close to 400, but its just too tempting if I can get there. I wish they would’ve given me the numbers sheet. He said I couldn’t keep it, so I just jotted down everything I thought was important and left.
I’m in San Diego, but I’d be willing to drive up to LA for the right deal. I was considering a 2016 that loberant had listed up in Beverly Hills, but if there’s minimal difference in price obviously I’d rather have the 2017
This is a good deal. 36/12, 2017 brand new model. The reason they came up with this offer is because you said under 400, so they did the numbers and came up with 1k cap reduction. It’s not bad, if you roll in the cap reduction, your monthly and MSD will increase.
