We’ll never know until you post a link to your LH calc so we can see what you entered.
2 Likes
I have a 2015 X5 I financed, finished paying it off August 2020. It was about $900/month.
Today I could get $10k for it, so if I were to sell it, it’s like I paid $730/month for it. Plus a few years of no payments!
Last year I leased an X7. In 2.5 years, I’ll give it back with nothing to show for it. Might even have to pay extra because of extra miles.
I don’t think I’m leasing again.
Here’s a link to the leasehacker calcs I did. Which come up about $150 less than the screenshot I shared above from dealer.
No it doesn’t… Match your due at signing amount to the dealer shot and your calculator comes out higher…
There’s no $48k lease cost here… You’re leaving out the $10k in trade equity rolled in.
Then it’s 10k more for purchase as well, numbers are still the same.
That’s interest rate from 2015 though, very different from now.
which one is interest fro 2015? I was quoted .0025 MF
If we look at this deal it is really 5% off MSRP (assuming inclusive of incentives) when you factor the dealer adds on a model that is going to be outdated next week as the factory rolls over to MY25 on April 1. On top of that the MF is marked up at .0025 (6% APR), when the base is .0021 (5.04% APR), and there are no tax credits on the deal.
Overall this is not a good deal IMO. Were I OP, I would find a dealer willing to give a decent deal and use the trade to max MSDs to reduce overall cost. Or use a broker to do all this.
Personally, I purchased my X7 over leasing because the leases just are not attractive right now. But I purchased my '24 X7 in April of '23 and got 5.5% off + free tint on one of the first '24 models built. BMW is running a financing promo for 2.99% right now on purchases too.
2 Likes
I realized 2 things
1/ I didn’t have taxes included in monthly. If I put taxes in monthly payment it seems to tie together
2/ I thought they gave me 6% off MSRP but I need to add back in $1000 of dealer add ons (tinting etc) so it’s really only like 5% off MSRP
That makes the calculator tie but no longer seems like a good deal especially with 2025s rolling
1 Like
Yes! Phasers you’re 100% right. Thank you. I just realized the add ons are included back in. And definitely looking less attractive for a car that’s basically now “one year old” given 2025s are rolling.
1 Like
any idea what a good % off MSRP would be right now for a 2024 knowing factories are rolling 2025?
Personally I’d shoot for 9% + incentives, and a base MF, but @IAC or @IAC_Scott could probably tell you what is realistic since they are local to TX and have relationships with BMW dealers across the state.
Still doesn’t change the fact that X7s are not leasing well at the moment and it will probably be better to purchase at 2.99% rather than lease. An $86,000 loan over 5 years is $1550/month at 2.99%. At least you own the car at the end rather than nothing after 3 years.
2 Likes
You are not handling your $10K trade-in properly. You want a total of $10K down, which covers your taxes and first month payment. Work the calculator so total DAS is $10K
save your money and reach out to @IAC for TX bmw - i’m sure i’ve seen better x7 deals on his page
1 Like
No, the calculator has an input for trade equity and that’s where the $10,000 belongs. Cash DAS is zero.
OP, click the button for zero drive off. You’ll get to around &1,400 and zero cash DAS which is very close to your quote for $1,375.
Without further investigation IDK if the difference is something state-specific that a generic calculator cannot know such as a tax credit from the trade