2020 BMW X5 40i xDrive Loaner Help

Good evening everyone,

I’m helping a friend out with a deal, I want to run these numbers on here for some insight on how to improve this for him. This was the first pencil he got. My friends objective is to get to $700 per month with no additional money down in addition to below. At first glance it seems that the money factor is inflated by 50 basis points. Any advice is much appreciated, thank you in advance!

Again this vehicle is a 2020 BMW X5 40i xDrive loaner vehicle. Massachusetts sales tax of 6.25% is included in the payment.

$63,295 MSRP
$57,500 Selling Price
$1,000 Loyalty Rebate
$56,500 sale price including all incentives
$6,500 trade allowance 2012 X5 (subject to appraisal)
$7,585.36 payoff 2012 X5
54% Residual minus the miles on the car. The residual value is $33,216.80
.00118 money factor
12,000 annual miles
36 months
$853 per month includes sales tax

$1,250 total cash due at signing. This includes 1st monthly payment, documentation and registration fees.

Try Carvana or Vroom for your 2012 x5, hard to believe its worth only $6500 unless very high miles.

115k miles

What should he be shooting for discount off of the MSRP?

Bad deal. I paid less on a new X5 at a higher MSRP. I’m LA (SoCal) btw. Here you go for reference - hope it helps! Signed: 2019 BMW X5 xDrive40i ($639mo + tax, $700 drive-off, no MSD)