Hi guys please let me know if this is a good lease deal. Originally this was posted
2018 BMW x5 sDrive35i loaner
MSRP: $59.8
Selling price 51.8
Monthly Payment: $535/Mo plus tax
Drive-Off Amount: $1.5k DAS + $4200 MSDs
Months:36
Annual Mileage:10,000
MF:.00188 (.00153 after MSDs)
Residual:~57%
$2000 Lease Credit, $1500 Loyalty included
I needed it to be adjusted to 12,000 per month, and said $2k drive offs so it is $2k plus $4,200 MSDs
he quoted me 590/mo tax inclusive 2k das, 4200 msds (tax 9.5%)
is this a good deal? is it the same deal as he originally posted just adjusted to 12,000 vs. 10,000 and he said only $1500 vs. I said $2k. How do I calculate this?
also what do you think about MSDs it sounds good in theory as it reduces my monthly payment by $30 monthly.
Plug in the numbers you have in the leasehackr calculator. If they are relatively close to what you received then chances are the dealer is being straight forward.
Then head to edmunds and find the residual value in 10K vs 12K. Change the mileage, residual and any DAS in the calculation you already have to the new deal with new RV. If the numbers match on both calculation then there you go.
If you have the capital for MSDs, then definitely go for it. It makes sense with BMW.
BTW, compare apples to apples because if it was $590 w/o tax vs $535 w/o tax then there would definitely be something wrong; as additional miles cost 25 cents at lease end and 22 cents if you pre-purchase overage miles. But you have $590 w/tax. So keep that in mind when you do your calculations.
If the discount includes the incentives, it’s not good as you are at like 10%, which you could easily get on a new one. You should shoot for 15-20% off MSRP then the discounts.
The 12k payment is typically just 1% difference in RV to go from 10 to 12k, so $600 across 36 months is only $17/month. Not clear why the drive off would change, although the MSDs may be slightly higher based on how they round up. It’s hard to compare as the 10K doesn’t have tax included but the 12K does.
End of lease support for ‘18 X5 i believe is coming up at the end of this month so the dealer will want to move the car before then. Look at other local dealership by you and see how many loaners are available in stock to gauge how much you want to push.
As for MSDs, if you have the cash available, do it. If you do the math, it’s close to a 10% return on the money based on reduced interest, so better than sitting in a savings account.
Haha small world, to further clarify the msrp and sales price are estimates, but the discount is before incentives. Additionally, the 590 is based on 9.5% tax rate while the 535 was before tax and driveoff is based off 7.75% tax rate so that’s why there’s a small discrepancy in the numbers. I listed at 1.5k but she wanted 2k with 12k miles. All in all, fully transparent on my numbers and calculated it off the leasehackr calculator with the dealer we were working with on this deal
