Is this a good deal

I got a quote for a 2013 X5 35i Premium. MRSP is 63,645 with 7 security deposits and owner loyality bonus for $750. Paying $1,187 extra including the first month lease payment for a monthly payment of $818.80 for 10,000 miles per year. Is this a good deal?

Based on the website, I think I should be paying about $767. Sales tax in FL is 6%.

Thanks for any info.

I would say that's a pretty bad deal. I'd rather have the money in my pockent than MSD. I'll throw down maybe 1-2K cap cost reduction. rework the lease numbers of the car factoring a fair profit for your dealer. for me, that's around 1K (very small market).

Make the dealer explain why their number is so much higher than your number. Look at bank fee and other costs.

I negotiate that separately and do not include any fees, or bank fee into the lease. Why pay interest + state tax on paperwork and bank fee?

I didn't run your numbers, but from my gut I think that's not too hot of a deal.

Website is only a "guide" so you really can't go from that. You need to get the residuals, money factor, and purchase price.

To get the base capital cost of the car you need to:

1. Get the invoice for the model. NADA is pretty accurate
2. Subract all discounts like loyalty
3. This will give you a base capital cost of the car

After that, you can figure out with downpayments what the lease should be. The dealer is still making money unless you have uber knowledge of every program and BMW's and the dealer's pricing structure.

So a quick way is to take invoice, subtract out any incentives, which should give you the base cap. cost. IMO pay the doc fees, bank fee, and other up front costs and do not factor them into the lease.

Find out what the actual money factor is. I've found that one site has become popular is not offering the most accurate data in terms of money factor. If you have the residual you should be able to calculate it even on a crude calculator such as leaseguide.com.

good luck!

Originally Posted by schnell525

I'd rather have the money in my pockent than MSD. I'll throw down maybe 1-2K cap cost reduction.

I disagree with this assessment. If the car is totaled you lose your cap cost reduction but you get your MSD back. I'd rather max out MSDs; they save you a lot of money over the course of the lease.

Originally Posted by Z-man

I got a quote for a 2013 X5 35i Premium. MRSP is 63,645 with 7 security deposits and owner loyality bonus for $750. Paying $1,187 extra including the first month lease payment for a monthly payment of $818.80 for 10,000 miles per year. Is this a good deal?

Based on the website, I think I should be paying about $767. Sales tax in FL is 6%.

Thanks for any info.

What is the sales price of the car?
What is the acquisition fee?
How much exactly are you putting down?
What is the dealer calculated monthly payment before taxes?

Use http://www.leaseguide.com/calc.htm and it should get you exactly what the dealer got +/- a couple of bucks.

Originally Posted by the_fox

I disagree with this assessment. If the car is totaled you lose your cap cost reduction but you get your MSD back. I'd rather max out MSDs; they save you a lot of money over the course of the lease.

Agree completely!

At original poster....... Contact me we should talk .. The questions on this thread should be addressed before you make a deal.