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      11-23-2013, 02:03 PM   #1
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X1 lease- good deal?

I got an offer of $2500 due at signing and $356 a month for 36 months, 10k miles a year. It is an xdrive28 sport line with tech package (about $35k MSRP). Another option is $892 due at signing and $406 a month. Is that a good deal? Thank you in advance.
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      11-23-2013, 02:09 PM   #2
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I'll take it is a lease, yeah sounds good if you only gonna drive 10k a year... Both deals are fine.
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      11-23-2013, 02:58 PM   #3
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I should mention that it's going to be a Euro Delivery vehicle.
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      11-25-2013, 07:59 AM   #4
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Quote:
Originally Posted by BMW E90 View Post
I got an offer of $2500 due at signing and $356 a month for 36 months, 10k miles a year. It is an xdrive28 sport line with tech package (about $35k MSRP). Another option is $892 due at signing and $406 a month. Is that a good deal? Thank you in advance.
Greetings,

What's the MSRP? What you buying it for (invoice)? Money factor rate? And residual after 3 years?

Personally, I would never put any money down...ever.

Semper Fi
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      11-25-2013, 04:56 PM   #5
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Quote:
Originally Posted by Former USMC View Post
Greetings,

What's the MSRP? What you buying it for (invoice)? Money factor rate? And residual after 3 years?

Personally, I would never put any money down...ever.

Semper Fi
+1, especially on the second part.

All you're doing is pre-paying your lease payments by putting down a down-payment. I would pay only taxes and DMV fees, nothing else. The only form of "down-payment" that would truly provide cost savings would be multiple security deposits which you can get back at the end of the lease.
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      11-25-2013, 05:08 PM   #6
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Here is what BMWUSA is currently offering for the X1 2.8 X-Drive:

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Well equipped including great features such as Premium Package (Leather, Comfort Access, Moonroof, Power Front Seats), Heated Front Seats, iPod/USB Adapter and Destination charges.
$339*/month for 36 months. $750 Option Allowance, $500 Loyalty Cash are included in payment.
Vehicle Registered outside N.Y.
• $339 First months payment
• $2,500 Down payment
• $0 Security Deposit
• $725 Acquisition fee
• $3,564 Cash due at signing
If we use the formula: for every $1,000 you put down, the payment decreases by $30 a month, then:

$339/mo + $116 = $455/mo

So that means that BMW is offering approximately $455 a month with zero down for a car with the options above (compare that car to your MSRP and this should give you an idea of where your deal stands). BMW is able to do better numbers for the car mentioned above versus one that is similarly built but not with the same exact options.

You are at: $406+ $28 ( about $28 for the extra $900 you're putting down) = $434 a month with zero down.

Now you can compare.

The dealer basically took off about $1k off the price of the car from what BMW is advertising.

If BMW is offering $455 a month with zero down for this car, in my opinion, you should be able to do better than $400 a month. I would shoot for $370 with zero down and you can also shop this number around to see how dealers feel about it.

If anyone knows better, feel free to correct me if I'm wrong. However, I have had a very good track records thus far using that formula... being able to get the lowest numbers in the market that most dealers could not even match.

PS. I am also in the market for the X1/X3 so I'll keep you updated.
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      11-27-2013, 12:21 AM   #7
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Quote:
Originally Posted by Former USMC View Post
Greetings,

What's the MSRP? What you buying it for (invoice)? Money factor rate? And residual after 3 years?

Personally, I would never put any money down...ever.

Semper Fi
Quote:
Originally Posted by Crisp View Post
+1, especially on the second part.

All you're doing is pre-paying your lease payments by putting down a down-payment. I would pay only taxes and DMV fees, nothing else. The only form of "down-payment" that would truly provide cost savings would be multiple security deposits which you can get back at the end of the lease.
The US MSRP (per bmwusa.com) is $37,675 (sport line + tech package). I believe the residual value after 36 months is something like 60% for 10k miles per year. Dealer noted $31,895 selling price. After sales tax, registration and other fees it comes out to $35,168.

With $892 due at signing it's $405 a month and with $2500 due at signing it's $356. I take it that the $2500 includes some money down (which I know is not recommended). I would rather put that money toward lowering the MF (which I'm not sure what it is at this point).
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