Please provide feedback on this lease. Is the Capped fees high in your opinion? Thank you.
MSRP $80,602.00
Residual Amount (58%) $46,749.16
Term 36/12K
Money Factor Rate 0.00142
Selling Price $71,735.78
Rebates $1,250.00
Total Cap Reduction $1,250.00
Capped Fees $1,940.00
Total Taxes $2,050.00
Adjusted Cap Cost $74,475.78
Security Deposit $6,650.00
Amount Due at Start $7,592.32
Base Monthy Rental $942.32
Total Monthly Payment $942.32
Does the 7582 include the MSD? Or is it 7582 + 6650 due at signing with 6650 returned at end of lease?
I have to pay $7,592 ($6,650+ first payment $942.32). Yes 6650 is returned at end of lease.
IMHO, Not a bad deal at all. Ignoring the 1% rule due to this being a popular re-designed car, you are getting a solid deal for a pretty loaded X5. Is it new?
Is this in Texas? Are you grandfathering MSDs from a previous lease?
Tax is lower than normal, are you trading something in or getting tax credits?
Is it the 40i or 50i?
2K Demo
No grandfathering. This is the first time I am doing a lease. Currently own a BMW
40i (will update the title).
Any thoughts on the capped fee?
Also, this post says
“Have them remove taxes from CAP cost, you pay taxes monthly in MA not on the lease …”
Should I do the same here?
I am leasing the car from NJ and driving in Texas.
Are you registering the car in Texas, because if you are the tax will be $4.5k not $2k.
What is your recommendation - register in NJ or TX?
When a vehicle is leased in another state and the lessee brings it to Texas for public highway use, the lessee (as the operator) owes motor vehicle use tax based on the price the lessor paid for the vehicle. The standard tax rate is 6.25 percent. Credit will be given for any tax the lessor or the lessee paid to another state.
If you live in Texas, yes you will need to register it in Texas. With out of state leases you’ll pay the full Texas sales tax.
This is where these kind of out of Texas state deals fall flat most of the time. You’re going to be paying all the tax, whereas you might be able to get Texas sales tax credits from a dealer in Texas (that would save you $4k). You’re also going to have to get it from NJ to Texas. The only upside with getting it from NJ is you can do MSDs and maybe the incentives are slightly better.
I think with the extra tax and delivery you’ll be near $1100p/m including down payment, plus the MSD money for an $80k loaner. That’s not a good deal and with the Texas tax situation for out of state deals it’s unlikely to be better than one closer to home. I would shop the quote around, especially if you can live with a lower optioned vehicle.
I am no expert on this but what has been explained to me is that the $2050 is the tax for Texas since the car is being registered in Texas. I was also told I don’t have to pay any additional tax in Texas. Thanks.
The sales tax rate in Texas is 6.25% and for leases we pay it on the full sales price. The only way to lower that is through sales tax credits, which are only available in Texas.
you are absolutely right. The dealer just called me and said they made a mistake. My tax is now double - around $4k 
Are you flexible on what vehicle you want? In terms of value the 2019 X6 is great, can probably get them in the $600 or $700’s depending on the model and options. Even a Merc GLS would be cheaper. Those would be vehicles sourced in Texas too. The 2019 X5 is too new for great deals.
Thanks for the response and points. I need to rethink this and look at other options like you said.
Thanks!
Can you share the dealership who offered this? I am really struggling with getting a decent selling price
from Texas dealers on an X5.