Hi!
I live in NY. My lease is up this week on my 2021 X5 40. I was deciding between a 2024 X5 40, 2024 IX, or X5 50E. I will upload the deals i was offered. I’d love your opinion. The prices have gone up significantly but i dont know if these are good deals or if they are bad deals. I’m being told these are the best they can offer.
The IX seems like the best deal because BMW is offering teh $9,900 rebate. But im not sure if im ready for fully electric and the size of the trunk seems small. The IX quote is from a different dealership. The MSRP is $101,850. When they discount the car on the quote sheet they took the discount from the msrp section and changed it to $96,539.25
The lease price of $1059 is just taxes and tags. Their quote seemed the most confusing because they dont break it down. The dealer also takes a 2% commission. I’ve never seen that on a quote. They claim all dealers do it but don”t label it so I wouldn’t know. I dont know how accurate that is
The 2 other quotes are for taxes and fees down no additional.
All 3 leases are for 12,000 miles/ 36 month lease.
I can’t get a straight answer on what the current incentives and lease interest rates are and if anything carries over to the next year if you order a car until end of year. I have the option of extending my current lease for 2 months but not sure if it’s better to wait until February or order something today.
Also the IX they have in stock to take home today.
The other two cars id have to order to get the color combo i like.
I appreciate any help and feedback
Thank you
Having current, accurate information for residual value, money factor, and incentives is important in understanding your deal. As such, going directly to a source that has access to that data from the captive banks is your best option.
Rate Findr has that information, as they have direct access to it from the captive banks. It’s a tool on the Leasehackr Calculator, available to Super Supporters.
These are all terrible deals. Whatever dealerships you are using, don’t go back. You also have a trade mixed in which complicates matters. Suggest you browse our Marketplace to familiarize yourself with competitive offers.
I know we are saying “purchase” because the interest rate is lower, but I would NOT want to be on the hook for the depreciation at any interest rate. At least with a lease your TCO is fixed.
Thank you for your advice. They do seem terrible. They are all saying that’s the best they can do. But i don’t know how to get them to do better. My current car is a lease going back
You are basically getting no discount, it’s not even a reasonable starting point. If you prefer to work a deal yourself, you need to canvas a larger array of dealers, after putting together a target deal proposal. As an example, on the IX I would be asking for 12% off at base MF.
If you want the easy button, use a broker. I am sure @AutoCompanion@IAC_Scott or @AutoNinjas can beat any of these deals easily. In addition, other models you should be cross shopping are EQS and Etron, both of which are leasing well.
Under no circumstances should you put a deposit / trade-in on a lease. Take that money put it in the bank and withdraw it toward the lease payments of the time of lease. When you put money down you never get it back. Especially if the car is totaled (hopefully you’re not in that position). Remember you are essentially renting this car. You don’t go to a car rental agency and say here’s $XXX reduce my rental.
The other thing you might do with deposit money is use it as a MSD (multiple security deposit) to reduce your money factor! The nice thing is you get that cash back at the end of the lease. Pretty sure BMW uses MSD
Interesting point. When is the “Best” or “better” month to have a lease end? I had heard BMW allows a longer lease extension, if you are committed to a build.
