Please run as far away from this deal as you can - you could have pretty much any luxury car/truck/SUV out there for $700 a month. The residual and money factor look right, but the sales price isn’t good. You should be able to get another $4,000 or so off the selling price, ideally more with 2018s likely being due out soon.
Without doing a ton of research, you should probably shoot for $1,500 drive off and $550 a month (including sales tax), and that would just be an ok deal. Or you can move to Tennessee and takeover my lease for $450 a month.