time to duel with my dealer

CarsRmyVICE · #1 07-31-2010, 01:24 PM

Its high noon in buffalo and given my lease expires Monday its trigger time. My x5 is spec'd to my liking at 68,500....50I most options less sport 3rd row and a couple others. My x, as some may remember is 11k over on miles! The dealer is going to eat the miles and the initial price discussed is 4100 due at signing and 1,010 per month. The mileage charge would be 2400 if I walk. My lease is for 15k a year. Opinions please!

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FSETH · #2 07-31-2010, 01:27 PM

I can't even wrap my head around leasing a car for $1,000 per month. I hope you are able to write it off as a business expense or something.

CarsRmyVICE · #3 07-31-2010, 01:35 PM

Unfortunately I cannot write it off or I wouldn't much care. I don't want to buy as I know I will want the new one when the next gen is released...

newmanium · #4 07-31-2010, 02:45 PM

Price over invoice? MF markup? Tough to compare just on down payment+monthly.

motordavid · #5 07-31-2010, 02:53 PM

Quote:

Originally Posted by FSETH

I can't even wrap my head around leasing a car for $1,000 per month. I hope you are able to write it off as a business expense or something.

I'm with Seth...I've never had a house payment that high, when I did have
a mortgage. Dunno what "opins" you could possibly need, since you are
leasing w/out write-off, and waiting for the next model.

inlacal · #6 07-31-2010, 02:54 PM

Quote:

Originally Posted by CarsRmyVICE

Its high noon in buffalo and given my lease expires Monday its trigger time. My x5 is spec'd to my liking at 68,500....50I most options less sport 3rd row and a couple others. My x, as some may remember is 11k over on miles! The dealer is going to eat the miles and the initial price discussed is 4100 due at signing and 1,010 per month. The mileage charge would be 2400 if I walk. My lease is for 15k a year. Opinions please!

I work at BMW.

Why not get the X5 diesel? There is a $4,500 eco-credit that will (definitely) help you out as it pertains to monthly pricing.

You can email me, privately, if you'd like to discuss. [email protected]

CarsRmyVICE · #7 07-31-2010, 04:37 PM

I have considered the diesel but I feel like it will be rain on my parade as i love my current 4.8 and have a hard time dealing with less power. I agree 1k a month lease does sound crazy, which is why I haven't put the money down yet. The dealer claims that the mark up on x5's is 7%, giving $4750 of profit room ( around here many people have said it is 8...which I told him) His claims are that with the $2400 excess mileage cost + 800 hitch included no cost to me (atleast not in the quote given) I am getting 3500 off msrp....he even brought up the floor mats costing the dealer 130 at which point I said get to the point idc about floor mats....he says "oh you don't want them"

"I want them" I said, "but I don't care to negotiate for them." Bottom line he is holding out at the above figures and now threw in the hitch and it will be a september production, which he claims costs them because my car is gaining mileage. I get the gist I can do better monday...but I am sort of inclined to pay my dues (2400) and walk around without a car lol

CarsRmyVICE · #8 07-31-2010, 04:42 PM

Quote:

Originally Posted by motordavid

I'm with Seth...I've never had a house payment that high, when I did have
a mortgage. Dunno what "opins" you could possibly need, since you are
leasing w/out write-off, and waiting for the next model.

Yeah sounds like the voice of reason calling. In retrospect I should have prolly bought my 07 in the first place. Now I am not so inclined to do so because with a warranty and all it would cost me nearly 40k. Not like I am waiting for the next model... but I like many do enjoy having new cars when they come out. Suppose your right there really is no advice worthy to be had. I am just venting

FSETH · #9 07-31-2010, 05:02 PM

Quote:

Originally Posted by CarsRmyVICE

Yeah sounds like the voice of reason calling. In retrospect I should have prolly bought my 07 in the first place. Now I am not so inclined to do so because with a warranty and all it would cost me nearly 40k. Not like I am waiting for the next model... but I like many do enjoy having new cars when they come out. Suppose your right there really is no advice worthy to be had. I am just venting

Do what makes you happy. If you are that into the X5, then go for it. I think they are great. I love our e53, but I couldn't imagine dropping $1,000+ per month on a car that I didn't even own. Especially, if I were limited to how many miles I could drive the damn thing. $1,000 a month on a lease should give you the right to drive the car as much as humanly possible.

If I were willing and able to spend that much on a car payment, it better be Italian with a horse on the emblem and it better be in my garage for a decade or more.

newmanium · #10 07-31-2010, 05:32 PM

Whether he can afford 1000/month or not is his business, do we really need every Joe Blow coming by to say, "Snap, 12k a year is a lot of money Jonesy!" He was just asking how competitive the deal was. For the guy who would want a Ferrari for that money... even a 0% loan for 10 years wouldn't get you a base Ferrari for 1k/month, lol.

I'd second the guy who works at BMW - try out the diesel. I've got it at almost 66k, and payments are about $730/month, no money down (not including tax). You could save a ton of money, and the diesel can be pretty satisfying compared with the old 4.8.

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