They would have cut me a check but I used it to lower the total cost since it brings interest down.
wholesale value on your trade is around 54.5k and they paid 60k. If you were to sell the X5 anywhere else, i would guess maybe 50k for the x5. That being said, you had more like 8k equity than 18k.
So I sold it well?
if you adjust their 10k overpay on the trade to % off the IX, its around 13.6% off with the MF markup or 12.3% with base MF so id say its a pretty good deal.
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Yes. That’s the right approach. Partly. The second step you should also do, is to compare your total cost against the total costs of other leases of the same model. This will give you a relevant benchmark for your deal.
It matters a bit more than that, especially in case something happens to the vehicle you would be out most of your cash down.
Sure you could have, but by focusing on the mechanics of the deal you will get a much more informed understanding of the variables and just how much you can net by tweaking the higher-leverage-levers.
Wanting to be under $45k is a nice ceiling to be aware of from a personal finance perspective, but does not have any input from the deal. Even just security deposits likely would have saved a few more thousands. Why not be under $40k too!
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I was thinking there’s no way someone had $18k equity in an X5.
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well dealer is smoking something too lol
MMR 54.5k, listed for 69k, MSRP 72k.
oh and it has 10k miles
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Fair - which is why I posted my deal 
I don’t have enough experience to benchmark it. How would you rate it?
Yes, but more than likely nothing will happen so more than likely the total cost is already spent, it just has not left my account yet.
I could not find a scenario that brought me under $40k unless the dealer was willing to take another $2k off MSRP. The MF would have gotten me down to about $41k from $43k but the net delta on the $5k or whatever it was at 5% for 3 years on the interest earned brings the actual difference closer to $1k than $2k and for that it didn’t seem worth it to deal with SD.
Side note: To your other point of being out the cash, the SD per the lease agreement can and will be used for whatever incidentals/overages/etc…you encounter, so you’re kind of exposing yourself there which you didn’t want to do.
I didn’t expect this much discussion and I can’t tell if I did good or bad on this lease 
The lease itself was not good, but the trade-in was overvalued, which negated most of the low discount. However, most of us here would advise to never put down that much money on a lease. Even though the likelihood that anything happens is low, you never know.
What could I have improved on the lease or what made it not good? If the trade in negated most of what was bad then does it matter?
The money down saved me about $2k so it seemed like it was worth it but I understand there are risks with that.
You had the equivalent of a 2.5% discount with base MF. Most of us are doing 9-10% with base MF right now. As others have said, the trade should have been separate, and you could have seen if they were going to give you the same value. What’s done is done though.
MF=money factor? So effectively I am paying too much on the interest? That is what it seemed like to me but I did not know how to negotiate that down.
The trade being separate you mean a separate transaction? So trade in the car on one set of paperwork and then do the lease on the other? What would I have seen different?
What’s done is done meaning the trade saved me on the lease but I could have done better overall?
next lease you’ll be prepared, don’t worry and enjoy the car.
Far fetched but no other way I can make sense of it - mislabeled trim? No way they would list it that high. Tells me they still haven’t caught their “error”
Definitely will but still trying to understand how to be better prepared
You got a discount by way of inflated trade value rather than on the sale price, Either way you arrived at the same spot on the map.
Enjoy your iX!
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I see…thank you. Well, whatever got me there! I understand for next time to work both deals separate to get maximum results. Overall, hopefully it’s a good overall deal.
At most, you probably left 1-1.5K on the table against separating the transactions.
Now, ask yourself if it’s worth the time and or aggravation of schlepping and shopping the trade around or listing it privately?
Leaving $1k off the table on my first lease, I’ll take it.
For whatever it’s worth, I actually worked with 3 dealers who all agreed to the $60k on the trade.
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