2024 BMW iX Lease Advice

CK_VA · March 8, 2024, 3:58pm

Hello Experts,

Thank you for all your inputs in advance. First time considering to lease a car so a newbie in leasing world. I am in the market for BMW iX and leasing makes more sense than buying this at the moment. 10% off MSRP + $9900 rebate.I have the following offer from a dealer - he has not shared other numbers yet on how he got to the monthly payments. They mentioned Residual is 50%. I drive a lot of miles so needed 15K/year. Need your inputs on how is this deal and where is the room to negotiate more if any. I am a BMW owner and purchased another BMW from the same dealer couple of years ago.

I would appreciate any inputs.

IAC_Scott · March 8, 2024, 4:05pm

It’s a pretty solid deal. I can make it match my math with 10.4% off with MF markup, I could beat it by a bit locally but frankly, you’re pretty much on the money for the average iX deal with now. Get that discount to 10.7k and take it.

Zenek · March 8, 2024, 4:12pm

Off the topic. You may consider fhis?
Oh sorry You need 15k miles a year.

z0lt3c · March 8, 2024, 4:47pm

A post was merged into an existing topic: Spammers - [report them here]

Wtmeyer · March 8, 2024, 5:45pm

Would it make any sense to take a lower mileage and then buy additional miles as needed? I don’t know what the MF is on this deal, but you are paying rent on the higher residual which would be offset by the lower depreciation. Every 1% higher residual saves about $1000 or ~$25 month. 52% residual would net you ~$50 a month x 36 months is $1.8K. Miles cost what, $0.20 a mile, so you could buy 9K miles 2 years from now once you see you are going over.

CK_VA · March 8, 2024, 7:14pm

Interesting suggestion and approach which I did not think about. I will talk to the dealer on those numbers.

z0lt3c · March 8, 2024, 7:37pm

IX miles cost $0.30 at turn in, $0.27 if purchased prior. – It’s generally cheaper to buy them upfront, if you know you will use them.

AutoCompanion · March 8, 2024, 7:52pm

Also, the base MF is only 0.00069 - 1.656% - so it’s really cheap to just get the extra miles up-front.

IAC_Scott · March 8, 2024, 7:54pm

For the iX, miles are .30c per at end of term of .27c if you buy them early.

Edit: Whoops @z0lt3c already commented this, was typing and never refreshed

CK_VA · March 12, 2024, 4:04pm

I received these number for 12K/Year which saves around $3K for the life of the lease in payments through which I can buy around 9K miles if needed or if I am over as the the agent said its .30c to buy miles now or later. Does 12K makes more sense if I am not sure I am going to use all 45K miles?

Thank you

max_g · March 12, 2024, 4:08pm

That’s not a bad find for someone in a low tax state but OP would owe tax on the value of the vehicle in VA.

max_g · March 12, 2024, 4:12pm

This was answered by @IAC_Scott in the first reply.

IDK how you’re saving any real money by just re-quoting the first deal for fewer miles and paying them later

Wtmeyer · March 13, 2024, 5:21am

Didn’t BMW just start advertising the return of the $699 iX lease?

IAC · March 13, 2024, 5:31am

In select markets.

GKV · March 26, 2024, 6:37pm

Is the dealer discount on top of the $9900 rebate. What is a typical discount that can be expected for no cash down

IAC_Scott · March 26, 2024, 6:39pm

Cash down should make zero difference as to your discount. We’re doing between 9-11% off depending on the market.

ayobami12 · March 26, 2024, 7:14pm

What is the MF for an IX (36/15K)? Zip code 23140.

max_g · March 27, 2024, 2:25am

Discount is measured before rebates, not on top ie after.

For example a $100k car with $10k rebate:

10% discount before rebate: $10,000

10% discount on top: $9,000

FYI

CK_VA · April 4, 2024, 5:01pm

Hello Experts,

Need advice on selecting the best lease offer. I have the following 2 options from the same dealer for a 2024 BMW iX - with and without MSDs. This is 1st time leasing so excuse my ignorance. I have two questions:

Are the monthly numbers what dealer has provided are correct? I could not match it with the LeaseHackr calculator. Are there any more numbers that I need to ask them for calculating? The tax is capped in the monthly payments.
Which option makes more sense, with or without MSDs?

Option 1 - Without MSD - Money Factor is 0.00109. State of Virginia tax rate.

Option 2 - With MSDs - He mentioned each MSD is $1K so with 7 MSDs

I would appreciate your opinion on which option to select and is there anything I am missing which the dealer is not sharing or making any mistakes in the numbers? We have locked down a car that I am looking for and they have in stock to be picked up.

Thank you

Femiakin · April 5, 2024, 4:56pm

Hey, what dealership did you get these lease deals from? I am in Maryland, and all the Mile One auto group of BMW dealers will be off. Besides, the $9900 is around $6700. I’ll travel to get your deal.