Finazlied Deal....Thoughts?

[radelow]

So the dealership and I have been going back and forth and finally came to the following deal. I have not accepted but wanted your guys thoughts...

2011 X5 35D
Colors still to be selected (we are ordering)
-Cold Weather Package
-Sport Activity Package
-Premium Sound Package
-Rear Climate Package
-Technology Package
-Multi Contour Seats
-Smartphone Integration
-iPod & USB Adapter
-Comfort Access
-20" Rims
-Roof Rails
-Running Boards

MSRP $68,075
Agreed to price $64,050 less $3500 ECO Credit so $60,550 (so basically $1500 over invoice plus ECO Credit)

15,000 m/yr lease
Residual - 53%
Money Factor - .002 bought down to .00151 (3.6%) with 7 security deposits (all refundable)
$925 acquisition
+ Misc

Works out to a lease rate of ~$940.00. NO DOWN PAYMENTS. Thoughts?

[Naz24]

Originally Posted by radelow

So the dealership and I have been going back and forth and finally came to the following deal. I have not accepted but wanted your guys thoughts...

2011 X5 35D
Colors still to be selected (we are ordering)
-Cold Weather Package
-Sport Activity Package
-Premium Sound Package
-Rear Climate Package
-Technology Package
-Multi Contour Seats
-Smartphone Integration
-iPod & USB Adapter
-Comfort Access
-20" Rims
-Roof Rails
-Running Boards

MSRP $68,075
Agreed to price $64,050 less $3500 ECO Credit so $60,550 (so basically $1500 over invoice plus ECO Credit)

15,000 m/yr lease
Residual - 53%
Money Factor - .002 bought down to .00151 (3.6%) with 7 security deposits (all refundable)
$925 acquisition
+ Misc

Works out to a lease rate of ~$940.00. NO DOWN PAYMENTS. Thoughts?

If you have money to do a down payment, i'd say at least put something down, it'll reduce your monthly payment...and we all know about time value of money

[radelow]

Originally Posted by Naz24

If you have money to do a down payment, i'd say at least put something down, it'll reduce your monthly payment...and we all know about time value of money

I am reducing my payment significantly by putting down the security deposits. Why would I put a down payment as well that I have to pay taxes on????

[alistairg]

Downpayment on a lease = bad plan, it's forfeit money if the car is totalled.

Multiple security deposits however likely worth it, as the money will earn less in your savings account than it will reducing your payment, and that money you'll get back at lease end.

Deal is probably not bad - I was aiming for $500 over invoice when I ordered my V8 a few weeks back, but dealer held at around $1200 over.

Congratulations!

[Netsurfr]

I just ordered a 2012 x5m and got it for $1000 over invoice plus dealer is adding the BMW stone guard film ($350 retail) as part of the deal so I'd say u got a fair deal. I'm leasing as well and agree not wise to put money down towards cap cost reduction on a lease. I did 7 MSDs and brought the money factor down to .00146 (3.5%) for 36 months and 12k miles. It's in production right now so a few 2-3 weeks before I get it.

[ShantF1]

Did you get adaptive drive?

[radelow]

Originally Posted by ShantF1

Did you get adaptive drive?

Nope. This is wifes car. M5 is for the twisties.

[Naz24]

Originally Posted by alistairg

Downpayment on a lease = bad plan, it's forfeit money if the car is totalled.

Multiple security deposits however likely worth it, as the money will earn less in your savings account than it will reducing your payment, and that money you'll get back at lease end.

Deal is probably not bad - I was aiming for $500 over invoice when I ordered my V8 a few weeks back, but dealer held at around $1200 over.

Congratulations!

good point. i guess i have never leased a car, i only think in terms of buying.

Sounds like a good deal

[Kief]

Originally Posted by radelow

(so basically $1500 over invoice plus ECO Credit)

$925 acquisition
Works out to a lease rate of ~$940.00. NO DOWN PAYMENTS. Thoughts?

Geography is everthing, but I think you can do better. It's really $1700 over as they are bumping up the acq fee.

[radelow]

Originally Posted by Kief

Geography is everthing, but I think you can do better. It's really $1700 over as they are bumping up the acq fee.

Yea I know. Late breaking news though. I called the dealership I bought my current X5 from and they said they will beat the dealer's offer by enough to make it worth my while. They said they wouldn't discuss the actual number until I got to the dealership. Both stores are ~15 minutes from my house so no biggie. Wife and I are going to head up there Sunday and see what they will do.

It's the last 2011 diesel they have in their allocation...