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BMW X5, Car Leasing, SUV
Nov 26, 2012 (9:21 am)
Even though I just bought a 2013 Cayenne diesel, I would agree that the 2012/13 X5d is an excellent choice - and very competitively priced with the current incentives. To me, the X5 gas models are much less of a "deal" and may need to be discounted more heavily as the 2014 model gets closer to reality.
Other than BMW, every other manufacturer - Porsche, Audi, Mercedes, VW - prices their diesels above the comparably equipped gas model by $1,500 to $3,000+. The X5d with its current $4,500 eco credit (which was only $2,500 when my son bought his 2010) puts it at least $1,500 under the comparably equipped X5 3.5i. I'm not sure why BMW has felt compelled to offer this significant of a discount on its diesel model. But if thats a vehicle that appeals to you and you can combine that with some of their other special offers and get a dealer to knock down their price to close to invoice, I'd have no trouble recommending going for it. I'm betting that a 2014 diesel will either have a much smaller eco-credit or none at all.
Pigs get fat. Hogs get slaughtered.
#2136 of 2262 Re: X5 lease [spiritinthesky]
Nov 26, 2012 (11:49 am)
Hi Spirit. What made you purchase the Cayenne diesel over the X5? Did they discount the price? Can you state how much msrp and what you paid? How did the Cayenne diesel drive? Thanks.
#2137 of 2262 Re: X5 lease [spiritinthesky]
Nov 26, 2012 (12:56 pm)
I agree that the incentives on the X5d at this time are great. When the new model comes out I suspect the eco credit will be less or disappear. As always the key on the X5 leases is to negotiate a great cap cost. In addition there are significant regional differences in deals as evident on the posts on this site. When December leasing numbers come out then I will try to strike a deal. Enjoy your Cayenne, it is a great driving vehicle.
Nov 26, 2012 (5:54 pm)
What made you purchase the Cayenne diesel over the X5?
Both are great, but I am drawn to Porsche's engineering and styling. I have a 911 and the interior of the new Cayenne is familiar and attractive. I have adaptive sport seats in both vehicles that are extraordinarily comfortable for long drives and well bolstered for more enthusiastic driving. I also think Porsche did a great job with the exterior in the Cayenne redesign. Don't need the moderately extra space of the X5, as most of my driving is alone or with 1-3 passengers (and golf clubs). I need an SUV for Pittsburgh winters, but not for carting half of a soccer team around. Been there, done that when our kids were younger.
The X5 seems a little quicker, the Cayenne handles and a little better; either one is far superior in driving dynamics to most other SUV's.
My MSRP worked out to about $75k, got a $4,000 courtesy discount, for being a multiple time previous customer. That's about $15-18k more than a comparably equipped X5d. Which, if you are on a more limited budget, is a hell of a great deal. Even though I am a Porsche guy, I would take the X5d over our sister offerings, the Q7 and VW TDI.
#2139 of 2262 I am in lust with an X5 xDr35d
Nov 26, 2012 (7:15 pm)
New to this site. I am ready to pull the trigger on a 2012 X5 diesel, MSRP of $67,800. With all the incentives the dealer has offered me $1770 down and $841/month (including Massachusetts taxes) for 36 months 12k miles/year.
I've shopped around and this is the best deal I have found. What say you?
Thanks in advance for your replies.
#2140 of 2262 Re: I am in lust with an X5 xDr35d [mmagoo]
Nov 26, 2012 (8:19 pm)
I may be mis-remembering, but thought I saw in the Washington Post an ad by BMW of Rockville for a $549 per month 39 month 10k/year lease on a X5d. Down payment was $3,000. They don't show that deal on their web site, but show $599 per month for a well equipped X5 3.51 SAV: http://www.bmwrockville.com/financing/lease-offers.htm
#2141 of 2262 Re: X5 lease [spiritinthesky]
Nov 28, 2012 (10:18 am)
Thanks Spirit. Funny, how we get used to our brands. I've owed BMW's for over 20 years and feel familiar with them
#2142 of 2262 Re: 24 month lease on 2012 35D? [Car_man]
Nov 28, 2012 (7:55 pm)
This is more than a bit embarrassing...
I have been shopping to buy a 2012 X5 xDrive35d, and then I was presented a lease deal that seemed great. I signed on the dotted line only to find out I did not get a very good deal. Shame on me for not doing the investigation first. I ordered the car about a week ago with delivery expected at the end of November. The unit is now sitting in the VPC in Port Elizabeth and will likely be delayed a bit (a few days or more) due to the current X5 35d Stop Sales memo by BMW because of a bolt issue.
Here is the deal I agreed to:
The sales guy says he took another 2k off. Thats puts the deal at $59,050
The quoted MF=.00145
Residual was said to be 53%
These seem to be inline with your posts on this matter, though others have said I can get MF=.00125 and residual of 56%
The deal I accepted called for $2500 at signing and $840/month for 36 months.. 12k miles/year. This includes 6% tax.
Using BMWconfig the invoice is $63,365... add $1000 for the dealer/sales guy mark-up and minus incentives = $57615
The BMWconfig tool says the deal (including tax) should be about $2500 at signing and $780/month.
This is a lesson learned. But I am hoping its not to late. Here are my questions:
1) Am I doing the math correctly? Is the deal I accepted $840 based on the terms I described?
2) Is the $780/month the correct number based on $1k over invoice?
3) Are the MF and residual correct? If not, what are they?
4) What is a fair deal for this X5?
4) Can I renegotiate? I have not taken possession yet. Can I say I feel like I have been taken advantage of and that I want out of this deal unless they come down to $780/month? (if this is the correct number.)
I really like the car, and I *don't* want to walk from the deal, but I feel like I've been had. Again, lesson learned. And again, I hope its not too late to rectify this issue.
Thanks very much for your timely reply Car_Man (and/or others!)
#2143 of 2262 Re: 24 month lease on 2012 35D? [x54bd]
Nov 29, 2012 (6:39 am)
A couple of things don't smell right here:
(1) You "ordered" the car a week ago and it's already sitting in a port? When I ordered our X5d on July 13, it took several days just to get back a production number and slot, another 3-4+/- weeks for the car to queued into production and built. It was ready for pick up in late August, and that was a week ahead of the 6 week estimate I was given when we placed the order. There is no way that you could have custom ordered a car from scratch a week ago and have it sitting at a port today. So what exactly do you mean by "order" - a dealer trade or taking an existing/dealer order vehicle that was already in process? Because if that's the case, you may have a little more leverage than if you actually had the car built to your own personal specifications.
(2) It looks like the price you negotiated is $1,440 over your (new) $1,000 over invoice target. Not sure how that translates into a full $1,440 more in lease payments over 24 months (i.e. $60/moth), but maybe that's lease math (and why I always buy). On the positive side, does that make the eco credit worth nearly $200 per month??
I'm not a lawyer or financial advisor, but I think you hit the nail on the head with the "shame on me for not doing the investigation first". If this is a car that the dealer had coming anyway, I would try hard to renegotiate the deal. But if this was a vehicle that they customized for you - and got a deposit with the order - I wouldn't blame the dealer for holding you to the deal or keeping the deposit. I'm in the middle of an extreme example - negotiating on a brand new 2011 Porsche 911 GTS that was custom ordered 18 months ago and the buyer defaulted. Dealer kept a $5k deposit (way too low), but they have been unable to sell the car since. It's now gone from bad to worse. We are now haggling between the $33k discount they offered and my proposal at $40k off. Either way, the dealer is taking a huge bath. Maybe in your case you could agree to split the difference and chalk it up to lessons learned.
Nov 29, 2012 (9:31 am)
All - Any thoughts on buying my vehicle out of lease. Have a 2010 X530i due in at end of December. Outstanding condition with only 19.5k miles on a 30k allowance. Purchase price around $35.6k -- Trade in estimate around $37k, Dealer reatil about $42k. Option is to buy or purchase/lease 2013 X5. Any insights would be approciated. Thanks.