Could be gastroenterologist
FYI 23MY Levante got a $9k lease cash from Maserati. Some are advertising for ~$20k discount, combined with the new $9k lease cash this month, you’re looking at about the same price as a $80k BMW X5 with a MSRP >$110k Maserati Levante Modena. (if you like Maserati).
Thank you. Unfortunately, I really would like a pure gas model right now. I’ve sat in a Grand Cherokee before and I didn’t really care for it. Thank you for the thought though!
Thank you. I actually have a spread sheet accumulated from my research and talks with dealers. I’m a dedicated HACKR hahahaha, my last two purchases were a LH score of 11 (Infiniti QX) and LH of 15 (BMW 7 series). This is the best I’ve gotten in my search.
$927 sign and drive with tax. 2024 BMW X5 Built to $70,750 with 8% discount, $2500 in Incentives, Max MSD MF to .00098 and 7.5k Miles per year.
$1,116 sign and drive with tax. 2023 Q8 with a $85,995 sticker. 3k in incentives with 4MSDs, MF of .0021 after MSDs, 7.5k miles per year.
1439 sign and drive with tax. 24 Porsche Cayenne…5% discount on a base model 39 months with 65% residual and .0037 MF
1042 sign and drive with tax. 23 Cayenne demo with 95k sticker, 39 months.
Not great numbers at all. Honestly though, if I could get somehow get the X5 discount to 10% and an extra 1,000 from a drive event, I’d be pumped and pull the trigger right away haha.
Porsche demos are tempting and the one above does interest me, but then I saw the 2024 in person and felt I would have buyer’s remorse quite quickly. Maybe a q8 demo might sneak up?
So I can write off almost $1200 through my group per month on car payments. The thing is I really only want to be spending tops $600 a month on a car (all in…no money down), any more than that sounds asinine.
I’m around the 37% tax bracket state and federal. So if I can get a good deal for around 900 a month, with tax savings I’ll be around 600 and happy.
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Hahaha, been there and done that.
Hmmm, thank you for the lead. I may actually look into this.
To be clear, no shame in wanting to drive a nice car–I would love to drive an X5 M60i or Porsche Cayenne when I am finished with residency. It just seems a little odd to be making $580k+ per year (enough to hit 37% federal if filling single) but then limit your budget to numbers that made sense 4-5 years ago AND you are also set on driving a German luxury make’s flagship SUV.
The cars it sounds like you are used to leasing would have had 60-month loan payments well over $1000/month even 4-5 years ago, if you factor in how much you would have to put down in down payment/tax/fees. Borrowing money for free is a rarity throughout modern history. In other words, I do not think we are living in a “nightmare” market…you just lived through a fairy tale one.
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Good luck with the rest of residency! It can be tough being patient with buying nice cars when you know your salary will increase exponentially soon. I ended up doing seven years of training, so I had to delay things even longer.
I always enjoyed the spring in the resident parking lot when 8 year old Hondas and Toyotas magically turned into new BMWs and Benz’s.
I had no student debt thanks to going to cheap in state schools, but I waited three years before buying a luxury car after becoming an attending. Wanted as big a house as I could get and wanted to form a solid base. Over a decade later was a great decision.
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Even the fairytale era barely extended beyond the X5. Neither the new GLE nor the Cayenne ever leased as well. RR also excluded itself from this fairytale.
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You know it’s interesting. I leased my mother an ML way back in the day for a great price. Ever since changing the name of the vehicle Mercedes never leased it well.
I passed on a Cayenne loaner for a little over 1,000 a month as the color combination and options were not great. I do see an S about 300 miles from me near LA that may work out to a great deal, and I would prefer the S. The only problem is that the 2024, to me, is such a superior refresh.
Land Rover Range Rover has never leased well. Jaguar once had a solid deal a few years ago, but other than that never leased well.
Prior to Covid the X5 would have had this same MF, discount, and similar incentives. However, the RV would have been upper 50s or lower 60s. I would order my preferred base spec model and come out close to where I want to be; however, I’m having a tough time wrapping my head around how bad of a deal this is.
The X5 is a 70k vehicle which by the 1% rule should be less than 700 a month. Rolling in the acquisition fee, Cali doc fee, and putting over 6,000 on the side as MSDS puts me over 900 a month and a far far far cry from the 1% deal I strive for.
Dont use bs rules that make no sense to judge the quality of a deal.
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Then you missed out on the best deals of the fairytale era.
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This has to be a troll post at this point. That is my opinion. I want RR and Porsche and GLE and X5 at this price when some have never been attractive leases and somehave not been good for a few years now.
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Step one, build a time machine…
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During COVID the price increase was due to demand vs supply. Now it is the high interest rates which can add an extra $100 - $200 to the monthly payment.
Is it such a bad rule though? If so, why? Surely just using it as a heuristic doesn’t hurt.
There are cars where 1% is a crap deal.