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BMW X5, Car Leasing, SUV
#1278 of 2262 2011 X5 Taxes and Fees Question
Jul 12, 2010 (8:17 pm)
I am considering to lease a new 2011 X5 35i Premium with the following options:
* Convenience Pkg
* Technology Pkg
* Cold Weather Pkg
The MSRP of this car is $58,925.
Today I have contacted a local BMW dealer for an initial quote for 36-month with 12,000 miles per year without any negotiation. A sales person told me that they could offer $780/month with $0 down lease, but I need to pay a upfront cost of $2,800. I assume that $2,800 include a first month lease payment. Is $2000 right amount to cover taxes and fee? Any suggestion?
Please let me know.
#1280 of 2262 Is it a good deal? 2011 x5 xdrive35i premium
Jul 13, 2010 (7:43 pm)
I have tried to lease 2011 x5 xdrive35i premium
I got an offer from the local dealer.
1. Convenience pack
2. Cold weather pack
3. Running board
4. 3rd row seat
5. Park distance control
Cap: 55255 (580 over invoice)
License $ registration 165.00
bank fee 925.00
doc fee 75.00
First payment 740.38
Sec deposit 749.00
Total Drive off: 2714.38
Monthly payement: 740.38 include tax
Is it a good deal or not?
Is it reasonable for bank fee?
Jul 14, 2010 (3:20 pm)
I would like to get some advice on upfront drive off cost. Based on my conversation with a BMW dealer in NJ, they are telling me that I have to pay the following drive off costs:
Bank Fee: $925 (I see other people got the same fee info. Do I really have to pay for this?
Doc Fee: $ $369 (I see other people got $75 fee. I am pretty sure my dealer is trying to scam me on this.)
Lux Tax, License, and Registration: $533.49 (I am a NJ resident, and my sales person tells me that I need to pay a luxery tax on my lease. Is that true?)
Please let me know what you think.
#1283 of 2262 Re: Drive Off Cost [newyorkphilip]
by kyfdx HOST
Jul 14, 2010 (3:59 pm)
Bank fee: Base fee is $725.. they are marking it up the maximum for extra profit. But, no requirement that you pay it upfront, you can always roll it into your lease payments.
Doc fee: Just more revenue for the dealer... They added $369 to your deal... they probably won't take it off, but you can threaten to walk, if they don't lower the price of the car by a comparable amount... Again, this fee wouldn't have to be paid upfront.... you could roll it in.
Lux tax, etc..: Not sure, but I think the luxury tax is a NJ thing... Added to cars that have an MSRP above a certain amount ($40K?, $50K?). Although it's possible to roll everything into the lease payment, most people pay registration fees upfront.
#1285 of 2262 4500 Incentive
Jul 15, 2010 (9:49 am)
Is the 4500 incentive on the X5 only for Diesel or can it be used on all X5 models? I am interested in the X5 Premium.
#1286 of 2262 Re: BMW Deal [lmoney783]
Jul 15, 2010 (11:45 am)
I am actually looking for the same exact specs (premium, tech, & conv.) in NY (Long Island). Maybe you could answer a few of my questions.
1. What was the Selling price and how much over invoice was this deal?
2. What dealership?
3. What exactly was the Security Deposit, Bank Fee, Acquisition Fee, and Taxes?
Your answers would be greatly appreciated.