'24 BMW iX M60 Demo Lease Deal

Ask the Hackrs Used Cars
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1

Hi

I am located in CA (SF) and looking at demo iX M60 that is located in WA state.

The iX in question has 4k miles and is heavily discounted as a demo. I’m attaching the deal sheet they sent below. They landed on $1.8k/mo payment which is almost 3x what I calculated on our calculator:

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My questions are:

  1. Wouldn’t this be eligible for the full $9900 lease credit BMW is offering? The information in the leasehackr calculator would indicate that it does apply here. Dealer is saying it does not because it is a demo.
  2. Residual value seems to be based off the sale price. Shouldn’t it be based on the original MSRP? Dealer says that BMW calculates based off the sale price.
  3. Money Factor is WAY inflated. How do you suggest I push on this?
  4. How do taxes and DMV fees get calculated when purchasing out of state? They said they used CA calculator but when I used the CA DMVs calculator the numbers are all wrong.

I appreciate any help!

1 Like
2

Forgot to mention this is not a service loaner. They called it a factory demo.

3

That seems really high.

PM an unredacted sheet to look into the status of the vehicle, this doesn’t seem like an SSP (subvented) type of lease.

1 Like
4

Thanks! I think I DM’d. My first time so let me know if it didn’t come through.

5

Yikes.

The Money Factor and Residual Value listed in your calculator does not match what this dealer is using. Did you ask them whether they are using BMWFS as the leasing bank?

Probably one of the worst lease offers I have seen in a long time.

6

My attempt at matching the deal sheet you posted. I’m at an effective payment of $1821. I am sure I am missing something, but close enough.

7

Brass hat without subvented rates and dollar based residual. Yikes.

1 Like
8

Yep! I tried the same. Would never jump on this in a million years, might as well get new for way less.

9

Was it a BMW dealer? Why were you looking at a demo iX in the first place? Much better broker deals in the Marketplace.

10

WA leasehackr here, I reckon I know where this is coming from (the only BMW dealer outside metro Seattle).

In my 10 years here (under different market conditions) I failed to get (or help others get) a single vehicle from WA dealers that was worth posting on here. Very meager discounts and systematic inflation of MF is the norm in this state (BMW stores are all basically under two groups). I’ve always ended up trucking up cars up I-5 from CA, OR and as far as TX.

I would be very, very surprised if you can’t get a significantly better deal from CA, tons of dealers (and brokers on here) to choose from.

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It was a BMW dealer. I just thought I found a unicorn but was very wrong. I am working through marketplace now!

12

Thanks! Good to know!

13

You found a unicorn alright, just in the wrong direction.

I don’t think i’ve seen an M60 lease that high since we were getting our first ones in two+ years ago.

1 Like
14

that monthly payment is crazy. Also check out how much it would cost to insure this. I hear its quite high