Last post on May 18, 2013 at 1:32 PM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW X5, Car Leasing, SUV
#948 of 2260 X5 2009 30i Lease - Northern Virginia
Jun 02, 2009 (10:30 am)
I made the following lease deal on a 2009 X5 30i here in Northern Virginia last week at Fairfax BMW. After a couple of days of back and forth, eventually was able to custom order an X5 which will be delivered in 4-6 weeks.
X5 30i, Vermilion Red, Sand Beige Nevada Leather, Light Poplar Wood Trim
Premium, Tech, Cold Weather, Rear Climate, iPod Adaptor, Smartphone Integration, HD Radio
$52,955 Selling Price
$1,750 existing customer additional cap reduction
additions include VA tax, title, tags
36 months, 12k mileage allowance
Money Factor .00180
$1,500 due at signing + First Month payment upon car delivery in 4-6 weeks
Monthly payment $716
Dealership initially had money factor of .00220 but thanks to postings in this forum, I knew that was a markup. Salesman initially pitched a custom order to me while emailing back and forth. Once we sat down and started talking numbers it was clear they would not discount a custom order very much, so we started negotiated for a similar car on their lot (not the color that my wife wanted), so after getting that car down to basically the same numbers as above, I still did not want to pay more than $1,500 at signing (ie, no additional $716 first month payment). Manager stepped in and said there is just no way to go lower...and after much hand wringing he suggested just letting us custom order and that got us the color we wanted and pushed the first month payment back 4-6 weeks, which actually worked better for us since we have an existing lease on a Volvo that is set to expire in July. Manager said they train their salespersons not to negotiate pricing very much on custom orders and to try to move the cars already on their lot (makes sense). I think it is a fair deal and the guys at Fairfax BMW were very pleasant to deal with.
#949 of 2260 $1,750 Lease Cash Offer Vs Loyalty Cash?
Jun 02, 2009 (1:34 pm)
It looks like BMW Financial Srv is offering a $1750 Lease Cash Offer for X5 3.0 and 4.8i. For anyone or Car_man, is this Lease Cash available in conjunction with the Loyalty Cash (which is also $1750)?
Do you guys know the buy rate MF for June on the x5 4.8i? I'm gonna get my car next week! Thanks a million!
#950 of 2260 Re: $1,750 Lease Cash Offer Vs Loyalty Cash? [sleepie28]
Jun 02, 2009 (4:19 pm)
$1750 for everyone? Is this true? I can't believe it!!
#951 of 2260 Re: $1,750 Lease Cash Offer Vs Loyalty Cash? [tomcat626]
Jun 02, 2009 (4:43 pm)
That's what I'm trying to get confirmation. I was told last month that the only thing available was the $1750 loyalty cash (for current bmw owners).
But I'm trying to see if I'm actually eligible for both!
#953 of 2260 Re: X5 2009 30i Lease - Northern Virginia [johnpatrick3]
Jun 02, 2009 (7:32 pm)
Thanks for the info. So how did u negotiate the MF? And the rseidual value- i thot it was 57% for 36mo and 12k.
Also, what would u recommend- shud i tell the dealer NOW or when i negotiate the price, that i am in for a lease. And when i tell him that i am in for a lease, what new surprises should i be prepared for?
ps i am a bit nervous since this is my first lease
#954 of 2260 Re: $1,750 Lease Cash Offer Vs Loyalty Cash? [tomcat626]
Jun 02, 2009 (10:34 pm)
thanks for the clarification - i guess i can only deduct $1750 once.
thanks so much for your post tho!
#955 of 2260 Re: X5 2009 30i Lease - Northern Virginia [x5fan10]
Jun 02, 2009 (11:00 pm)
I actually test drove an X5 and walked away after little conversation with the internet manager. Home is where I do all the homework and negotiation at. I sent emails to 5 dealers and asked them to match or beat the best price. It turns out that they are quite cooperative. To me the MF is pretty much fixed however you can put some SD down to lower it by 0.00015 or so.
I remember that Edmunds lease guide recommended to act like buying before surprising them But, it's your call!
#956 of 2260 Re: $1,750 Lease Cash Offer Vs Loyalty Cash? [sleepie28]
Jun 02, 2009 (11:01 pm)
Just sent an email to a dealer to confirm the cash offer. It's too good to be true tho
#957 of 2260 Re: X5 2009 30i Lease - Northern Virginia [tomcat626]
Jun 03, 2009 (7:52 pm)
I am waiting to hear back...this is what i have do far-
X5 3.0 black saph with beige leather
cold, prem, tech, 3rd row seat with entertainment and climate
selling price 54410 plus taxes.
what do u think?