Being part of the BMW world means I get a lot of questions about the new BMW iX. One of the most common is regarding payments and leasing specifically. A a handful of iX models have been delivered so far, and even those who missed out on the pre-order program are beginning to get production numbers. When it comes to lease payments, though, it’s not a cut-and-dry response. BMW has promised pre-order customers a “rate-lock” for iX and i4 early adopters, which is great since rates have done nothing but climb higher and higher over the last few months. Here we look at what you might expect to pay when leasing a new BMW iX.
BMW iX Leasing for Pre-Order Customers
iX pre-order customers can lease the iX at a lower money factor, roughly equivalent to a 2.99% interest rate. That’s great compared to the current rate of around 5%. So, pre-order customers stand to save a lot when their delivery time comes. The earliest pre-orders, received before 6/28/2021, also receive an enhanced residual value. All in, BMW quotes a lease price of $1,249 per month for 36 months. That also assumes $5,025 capitalized cost reduction, $1,249 first month’s payment, $925 acquisition fee and does not include taxes and fees. So a total of $7,199 down. Remember that these quotes also assume a dealer contribution – unlikely – and an MSRP of $93,295.
BMW iX Leasing for Everyone Else
If you missed out on the iX pre-order program, it might benefit you to lock in your rate today if you plan to lease through BMW. Current rates are high, with BMW’s base money factor hovering around 5%. There’s still no rebate for these cars, and the residual value is a bit lower. BMW advertises a figure that isn’t quite realistic – 7500-mile leases don’t work out for most people – at $1,309 per month for 36 months on an $89,145 car, with $7,634 due at signing.
More likely, you will require higher mileage than that. For consistency’s sake, lets keep the same MSRP of $93,295 and even the same dealer contribution of $2,600. At 10,000 miles a year with the same $7,199 down, your payment is $1,405 per month for 36 months. That’s also before dealer fees, taxes, and registration.
Additional Costs: Leasing a BMW iX
Just as a reminder, all of these quotes are before tax and registration, which you’ll be paying no matter where you’re buying an iX. Dealer fees are also excluded – generally, these are in the hundreds, maybe even close to $1,000 in some cases. You might also want to purchase additional coverages – BMW extended warranties and the like – which can add up quickly too. And if you didn’t pre-order: you might also be paying a market adjustment on these hard-to-find electric vehicles. Happy shopping!