Hey guys, I’m very concern about the lease deal that I got from the local BMW dealer and I’d really appreciate your inquiry to figure out how bad/good is it.
*Corporate incentive applied.
Here’s the deal check link. Thank you very much.
~$1350/mo for an X7 does look pretty painful. How does the pre-incentive discount compare to what you’ve found in the marketplace here?
Why are you putting up such a big down payment?
For that much down, I’d finance it and own it!
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It’s not an M50 and you have to give 15k at signing, this should not be taken, use a broker on this forum and see if they can do better, I’m betting they can.
Bunnny with three n’s, please hop away from this deal like it’s a fox …
And if you must, please apply the 7 MSDs instead of the downpayment …
It’s a nice build but a low discount. If you really can’t wait and really want it and are ok with overpaying a bit. You can save more with a broker but that would require a custom order most likely… since x7s are pretty hard to find on the lot…
That’s not overpaying a bit. That’s criminally overpaying …
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The deal isn’t structured particularly well with the $15k up front, however, discount wise, it’s only about 2-2.5% pre-incentive lower than what several brokers are offering on these right now. By the time you get done with broker fees, this is only about $1500 higher total cost of the lease.
Now, one could certainly make a strong argument that the X7 doesn’t present a good lease value at the moment, but if one had to have an X7, this really isn’t that bad for the current market conditions.
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Why does this have 3 states tagged as well as nationwide? It only applies to you OP right?
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Please update your title with the make/model and put only the appropriate tags.
Hey guys, I sorry for the tags, I’m new to the place. The dealer tried to convince me that financing numbers are bad too and by giving me the lease ones I’m basically getting a deal. Can someone here connect and help me out do the right thing, please. Thanks.
Sorry I press “Solved” by accident.
Step 1 - search Marketplace for the car you want & deals posted by brokers in your area (you can look at surrounding states as well if you’re willing to travel)
Step 2 - go to Edmunds forums for the car you want & ask for MF & RV.
Step 3 - make a decision - whether you want to go negotiate yourself with the information you have or hire one of the brokers to do your deal.
If you got with later
Step 4 - research broker reviews to pick the one that fits your needs.
Talking numbers with the dealer is for finding someone to do your deal, not for asking them how much they want you to pay. You should always work those answers out for yourself before talking to a dealer.
At 1.5% discount and lower incentives, the numbers here are going to hurt for financing or for leasing. That’s part of the reality of the current market. You’d want to work out total cost of ownership over 3 years to see which path is better if you have to have an X7 right now.
confused on how he got 3250 on incentives? Penfed (which I suspect) is only if financing.
I called PenFed and they confirmed they’ll honor ‘22 lease due the market stagnation. Don’t know if that actually will work in reality.
yeah idk about that. i would triple confirm with your dealer and get it in writing. You don’t want them pull the rug under you, especially after you ordered + waited all this time to get the car delivered, and then they tell you (lease you can only apply $500 unless you buy cash/finance to get the 3250).
Also you might qualify for 750 if you have a current BMW, but I think you already know that.
Penfed for a lease is $500 (or if you use Bmw financing for purchase as well), to get the full amount you need to use outside financing (but not necessarily penfed).
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