An X5 with a 10k mile lease is ~ $975+ tax w $7700 MSD without loyalty or $843 + tax w $6650 MSD with loyalty. This is assuming an 8.5% discount on a $71k MSRP car, and only 1st month payment + MSD due at signing.
FWIW the total yearly cost of ownership on an X5 is about the same if you lease or purchase. Definitely will be better to purchase with that many miles.
Personally I’d take a look at something else with less depreciation and better mileage, or buy a 2021/2022 CPO X5 with less than 25k miles on it which will be way less TCO than leasing, but probably still bad compared to other options.
So this is where you have to take it upon yourself to get creative. Besides the mileage, you’re also concerned with making payments on a car that isn’t “yours” and will be out of warranty. I take it this is why you are asking about 24 month leases with a 20K per year allotment. Pick a manufacturer that has a low “over” mileage charge (Toyota Financial charges $.15 per mile) and allows you to buy down your money factor (interest rate) with MSD (Multiple Security Deposits) instead of putting “3-4K Down” as a capitalized cost reduction. This way, you can take a “normal” 15K mile per year lease and the bank will automatically deduct for the over mileage at the end of the lease instead of sending you a bill. You can also pick a vehicle like a Wrangler that historically (past performance does not gualrantee future results) holds its value very well. So there is a possibility that you’ll be able to sell the lease early to a 3rd party. I don’t think an X5 fits into your price range. I’d start your search for a CPO Lexus. Their CPO warranty is quite comprehensive and starts at 2 years/unlimited mileage (you can purchase additional years). Not as sexy or exciting as an X5 by any means.
Since you are new here, I’d suggest reading some of the boards and gain some knowledge. There are a lot of moving parts to a lease, but if you arm yourself with the proper knowledge it doesn’t have to be complicated. Good luck with your search.
Hi, I think you emailed me in the middle of the night. A 24-month lease with BMW is not favorable. Because the residual is only 4% higher than a 36-month lease, that alone is hundreds higher for a 24-month term.
The highest mileage BMW offers is 15,000, so you’d have to pay a lot for extra mileage. You’d be best in something like a CPO Lexus because it’ll still hold value relatively well.
Funny you mention that. I completely didn’t even think of it. My Mom is currently on that program. She does a lot of driving as well. She leased a 2020 RX350, traded it in early (and got a boatload of equity) and got a nice discount (at the time) and leased a 2022. I’m sure we’ll be able to get her out early again towards the end of the year.
I have to look into some of these $5,000+ discounts:)
You are SO much better off with the current body style. @AutoCompanion has them at 10% off. Drive it for a year and your 20K miles and you’ll be able to get out of it. That sucker will use A LOT of gas though:)-