I am working on a 2024 X5 lease in Northern NJ and have negotiated the below deal:
2024 BMW X5 xDrive40i (M Sport, Premium, Park Assist, DAP)
MSRP: $77,995
Discount: $3,995 (5% discount)
Cap Reduction: $1,000 (BMW Rebate)
Selling Price: $73,000
Residual: 52%
MF: 0.00180
Due at signing: $3,500 (fees and first month, taxes rolled in)
Term: 39 months / 10,000 per year equivalent
Monthly = $1,080
Additionally, I am turning my 2021 X5 in that has a stated residual value of $37k. I was able to get the dealership to agree to $5k in equity credit which I thought was pretty fair given that I am 5k over my miles and the car needs new tires and brakes. I have the option of applying it as a cap cost reduction or having it cover inception fees with the remainder going towards reducing the lease. I am going to do the latter. This would make the net effective monthly payment $1,041 over 39 months.
Any feedback on the MF, the application of the $5k in equity and the overall deal would be appreciated. Thanks.