Hello All,
I am planning on getting an SUV as a family vehicle since it’s difficult to use my F150 with an infant. I’ve leased vehicles before with the forums help, I just seem to get stumped on negotiating on a used vehicle lease.
The dealers numbers do not seem to be adding up.
The Vehicle has 11,640 miles on it.
Dealers numbers:
Price: 59,995
Residual (10k): 33,269
MF: 0.00195
Taxes and fees: 5015
Monthly (all in): $1,049
My Research:
Original MSRP: 69,335
Sales price: 60k
RV: 52%
NJ Tax 6.62
MF: 0.00175
KBB is valuing the car at 50,626
I don’t understand how the RV works in relation to the original MSRP and sales price. Ask any questions. All help is appreciated!
I agree that it’s more than some new car deals. I’m hoping with it being a used vehicle I can keep the prices lower. I like the X5s I just dont care for it being brand new
That dollar number gets further deducted for loaners. Something like $0.25 for every mile after the first 500 or something like that. So a 11k loaner will have a huge RV deduction.
This dealer is charging way too much for an untitled (technically eligible for new car programs) former loaner. He’s just fleecing the sheep who walk in, get shocked at their $1,400 new car offers to noobs and then take the $1,000 loaner car “deal”.
So I take the original MSRP of 70k the RV being 36k. The cost of depreciation would be roughly 34k. Can’t I just take the the negotiated sales price, lets say 55k, minus the depreciation and have a cost to lease of 21k, which is 583 over 36 months?
I can tell you right now…cut your losses with this dealer. You’re never going to get them down enough for this “courtesy” vehicle to make sense to lease. I doubt they’ll even supply the Vaseline for this deal
We’ve all been where your at in our head before. Pre Covid a loaner / courtesy vehicle had a good chance of being a great deal.
With the program changes ( rv penalty on miles) and more limited production and a seemingly endless supply of buyers for an X5. It’ll be a very uphill challenge.
Lastly you can’t change the way BMWFS underwrites a lease and just manipulate the rv the way you see fit. If you’re looking to keep the costs down, purchase a CPO one or go even further back to a 2016 or something and set aside a little money for maintenance.
Agree w/ others here, you’ll never get a good deal on one with 11,000 miles to make it worth it.
You forgot the rent charge, acq, doc, DMV and taxes. Ofc leases would be way cheaper if you’re only paying for the depreciation.
Start plugging numbers into the LH calculator
Expecting Mr. Fleece to give you $5,000 off seems like wishful thinking but even if you plug in that number into the LH calculator you’ll see the payment comes to way more than $583
As Max mentioned above, the lease equation is kind of like the annoying college algebra class, it’s a pain till you understand every variable and the way they inter play with each other to allow for a good deal.
With interest rates up, less incentives, and slightly lower rv’s than historically allowed & smaller dealer discounts, means a lease is going to cost more.
Subsidized APRs are starting to come back in that segment. Hyundai Tucson and Santa Fe and Mazda CX5 have 0% APR… that’s actually worth a nice chunk of change as an incentive
.