2019 BMW X1 xDrive28i (loaner?) $199/month $2999 DAS - good deal?

Ask the Hackrs
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1

Hello! I’m new to the forum and leasing in general, so apologies in advance if I ask silly questions :slight_smile:

A local dealer emailed me a supposed lease on this 2019 BMW X1 xDrive28i, looks like it might have been a loaner (~3200 miles), a base config with very few add ons.

Email says:

2019 BMW X1 xDrive28i
$199 Per Month*
*VEHICLE SHOWN EXAMPLE ONLY // JUST $199 PER MONTH // 36 MONTHS // Stock # DLK3H33925 // $2,999 CASH DUE AT SIGNING. 10,000 MILES PER YEAR. MSRP $38,495.00. VALUE AT LEASE END $22,712.05. SALES PRICE $32,434.61. DOES NOT INCLUDE TAX, TITLE, LICENSE, OR DMV FEES. OFFER INCLUDES $3,000.00 BMW LEASE CREDIT. REQUIRES CREDIT APPROVAL THROUGH BMW FINANCIAL SERVICES.

I tried to calculate the money factor here but ended up with something like 0.5% APR, which makes me think I made a math mistake somewhere. I tried playing with the calculator, but couldn’t quite get it to reflect what the email said.

Is this a good deal?

Also, have people had luck moving across state boundaries before a lease is up?

Thanks a lot!

2

I mean, never put money down, but yeah, in theory it’s a great deal but there’s a gotcha in this “deal.”

Also, what do you mean “luck”? You just move. Your leased car goes with you.

3

There’s the catch. $2999 is a cap cost reduction here so the true due at signing is probably $5k

Base MF for August was 0.00145 and September is 0.00128.

4

It’s not a bad deal. If you know how to hack it using MSDs and loyalty rebate, you should be ok. But I am sure the dealer has a few trick up his sleeve too.

5

Thanks so much for your quick replies!

Went into the dealership today and was told the MF is 0.00185, quite a bit higher than the two values that Parth_Bharwad had mentioned. Do the MF values vary by state/region, or is that just additional markup for the dealer?

Re: moving out of state, one of our friends mentioned that they were charged a huge fee when they moved from Oregon to Washington and re-registered there. Maybe it was the sales/use tax of some kind, but it sounded like it was something the dealer put on it - but we may have completely misunderstood that part. Thanks for the input!

6

MFs are often marked up by the dealer. Based on the number your dealer gave, it seems like they’re marking it up by 0.0004 based on last month’s 0.00145, which is definitely possible if they emailed you that offer prior to yesterday (9/4) when the updated September numbers came out. I would ask if there’s been any revision due to the updated MF for this month.

7

Gotcha - that’s a good idea, thank you rgao007!

Playing around with the calculator… I don’t quite understand how they could do a monthly payment of $199, when, according to the calculator, my monthly should be over $300? Where could the discrepancy be coming from?

Also, the email mentions that

OFFER INCLUDES $3,000.00 BMW LEASE CREDIT.

How is that factored in? Could that be related to the $2999 cash DAS? Thanks again!

8

Oregon has no sales tax and Washington does, so their lease payment went up by the sales tax rate. Nothing to do with the dealer. But it’s easy to avoid, just don’t re-register the car. I’ve moved across state lines, I don’t get why people go through that total hassle for something you’ll never get in trouble for. Unethical life tip, but whatever.

As for the $3k lease cash, that’s a discount they are applying to the sales price.

9

Probably that big fine they can receive should they get pulled over for speeding, not to mention it just being illegal, would be my guess.

1 Like
10

Haha, don’t worry, we are perfectly law-abiding citizens and will do our due diligence on how long to wait before moving to avoid the sales/use tax issue :slight_smile:

Thank you all for your responses! This has been very educational.