First post! I’ve spent some time browsing around and think I have a decent grasp of the mechanics of these lease deals. I’ve seen some crazy good deals on BMWs posted here - congrats to you all!
So, I have some maybe basic BMW questions. I live in NYC and do not currently own a car. Wife is pregnant with our first child and now the X5 seems appealing to me. I test drove it at the Manhattan dealership recently and it is indeed a sweet ride! Still need to decide if I want to splurge on parking etc. Given that I don’t currently own a car are there any incentives apart from the conquest incentive (which salesperson said was no problem) that I would be eligible for? I’m also a USAA member and my company has a corporate discount - but it seems I can use one or the other and not both. I also know about the BMWCCA rebate which I plan to use.
Another question - I really was thinking I would wait until early in the year - but will there be relatively better deals at year end than at the start of the year? If so probably better to decide earlier than later. Just curious if anyone has specific insight into this or any other upcoming dealer incentives.
Since I live Manhattan I can fairly easily get to dealers in the tri-state area. Are there any reasons to go to a dealer in one state vs another on these? I understand MSD do not work in NY State which is disappointing as otherwise I liked the Manhattan BMW dealership. I guess that just means the bar is higher for them.
Finally, can you comment on this initial deal proposed by the dealership? This isn’t the exact build I would take but mine would likely be ±2% on an MSRP basis and just looking for commentary on the discount and anything else I should be asking for - I would guess I can negotiate them down a bit more as this was their opening offer.
MSRP: $70245
Residual: 58%
Lease end value: $40742
Term 36 mos
Sell price: $63500
Rebate amount: $750
Adjusted cap cost: $62750
Initial fees are going to be things like the acquisition fee, dealer doc fees, etc.
What MF are they charging? You’re a little under 10% pre-incentive discount. That’s not a bad starting point with base MF. Little low if they’re marking it up.
I’m curious how conquest is “not a problem,” because BMW clearly says this for conquest:
It’s that simple. You’d need to submit a registration or insurance card to prove it to be eligible. Also, I am assuming this is a 2019 because of the residual and it’s a 10,000 mile lease?
10k lease. It would be for a new build 2020. Is the residual different for the 2020s?
I honestly don’t know about the conquest, just what the guy said. I assumed that was the $750 in the “rebate amount” but maybe not? I asked about the loyalty and he said definitely could not do loyalty as he needs proof of previous BMW ownership.
I guess I don’t really follow thought - I have a deal sheet that shows a $750 rebate. Are you suggesting that if it turns out to be invalid that they wouldn’t honor it after the fact or change the terms right before signing? I would have guessed that as the buyer it wouldn’t really be my problem - after the fact - if a given rebate by the dealer wasn’t valid, wouldn’t it just be on them?
BMWF has to validate with proof… he could give you a quote with loyalty and new college grad and it means nothing. Last minute he could say you don’t qualify and you would be out the $750.
On a side note, I got my X5 from BMW of Manhattan last year and it was straight forward and painless.
Good to know then. And thanks for the dealer feedback. Aside from some snafus with setting up a time to test drive I’ve been impressed with them - straightforward so far. About the only downside I can see from going with them is that I can’t do MSD…
Also, are the taxes based on the state of purchase or state of registration? If the latter it obviously makes no difference where (if) I end up getting the car.
Yeah I’m kind of lost on how he is qualifying you for the conquest if you don’t actually qualify lol.
You said yourself you don’t have any vehicles.
He’s either gonna take it away and raise the price on you or I guess fraudulently create document to qualify you for it if he’s saying it’s “No problem” lol
Got my first car in NYC 2 And a half years ago. I looked at the x5 but got a sedan cause the price difference for SUV of this size vs sedan was outrageous in midtown for monthly parking. The parking was more than the payment. Valet will also bump into things so I wanted something less pricey for my first Manhattan car. Although getting a car in nyc was the best thing I ever did. Freedom.
Parking is outrageous although oddly the garage in my building is the cheapest around by at least $100 / month or so and they are not upcharging for the X5 vs a sedan. I put a deposit down to hold the spot a couple of days ago
Yep - said premium would be applied for “exotic” aka > $100k value, which this car is not, or a very large SUV like an Escalade. Assuming for the former case that that has to do with their insurance / damage risk. The upcharge for a regular SUV based on the height of the vehicle never really made sense since they take up roughly the same amount of floor space (or at least the same 1 parking space).
Totally, insurance actually not so bad … ~$130 / month. But yes it is a total splurge especially when factoring in the price of parking. Still deciding if this is something I want to spend my money on, hah, and debating between the X5 and something cheaper like a Subaru - but need to run the traps on the numbers to make a decision.
Haha yes I have been there and totally agree. I parked an Infiniti G37 on the street for a few years back in the day when I commuted out of the city each day… this should be a little better with parking indoors and mostly used for weekend trips out of town which will be much easier with an SUV rather than train / renting cars now that I have a baby on the way. But the Infiniti experience has me wanting to stick with the standard wheels and all season tires…
