[XM Label]

Originally Posted by Padfan9

Thank you! I’ve decided to keep this one for the 3 years, and I tried the security deposit route but I would need to put in 7x my payment so let’s call it 15k, that’s tied up for years to get the MF down by 1%, I can make 5% on treasury bills so I’m not doing that, but you are all correct that it’s stupid to put down money in case of a totaled car, so I’m doing 5k to cover drive offs and payment will be $2450 ish, I have pushed them super hard and went through a broker and the final looks to be over 28K off in total. I hope that’s a good deal?

Congrats and welcome to the club…I already have my eye on my next XM label. Love this car. Checks all the boxes for me. I already know what color I want next. Been rolling security deposits for over a decade now so the hit to me was not great for the MSDs because i only had to put in a little extra…

[Padfan9]

Originally Posted by VirtualGuitars

My 36 mo/10K lease payment is $2,398 per month on my Label. 192k MSRP, 13k off of that, $7,500 lease incentive with $20K down; however, $13.5K of that went towards the payoff of the 2023 iX M60’s that I traded-in, so essentially just a tad bit more money down (about $6,500) than you.

Moral of the story? The money factor plays a huge part in a lease and is generally where the dealer will make up for any discounts they give you upfront. You really have to run the numbers - It’s not just about the actual purchase price or lease payment amount. Sounds like they jacked up the money factor.

This is helpful, thank you. Seems like we got a similar deal? Money factor stayed the same, I got it from them in the beginning and it didn’t move on the new contract, I made sure to see the before and after.

[Padfan9]

Originally Posted by XM Label

Congrats and welcome to the club…I already have my eye on my next XM label. Love this car. Checks all the boxes for me. I already know what color I want next. Been rolling security deposits for over a decade now so the hit to me was not great for the MSDs because i only had to put in a little extra…

Thank you! My M8 is frozen white and I’ve always had black so I’m going with frozen black label on the XM, it’s beautiful, but there are other nice colors as well. I’m a sucker for black and red! Thanks for the help!

[VirtualGuitars]

Originally Posted by Padfan9

This is helpful, thank you. Seems like we got a similar deal? Money factor stayed the same, I got it from them in the beginning and it didn’t move on the new contract, I made sure to see the before and after.

Your money factor must be higher than mine. You’re getting a much bigger discount, yet my lease payment is less for the same terms. It’s a great vehicle, and you’re going to be happy with it either way. Note that I bought mine the first week they started arriving at the dealerships in mid-October, I’m not sure what the money factor rates are today.

[VirtualGuitars]

This thread is making me reminisce of when I bought mine just five months ago. I would buy another one tomorrow!

[Padfan9]

Originally Posted by VirtualGuitars

This thread is making me reminisce of when I bought mine just five months ago. I would buy another one tomorrow!

Beautiful!

Here are some pics of mine:

[Padfan9]

Originally Posted by VirtualGuitars

Your money factor must be higher than mine. You’re getting a much bigger discount, yet my lease payment is less for the same terms. It’s a great vehicle, and you’re going to be happy with it either way. Note that I bought mine the first week they started arriving at the dealerships in mid-October, I’m not sure what the money factor rates are today.

They said .00230, what was yours?

[XM Label]

Originally Posted by Padfan9

They said .00230, what was yours?

They marked your money factor up. Pretty sure it’s still 0.00190 so your lease rate is 1% higher than base rate.

[Bornagain73]

Originally Posted by Padfan9

Beautiful!

Here are some pics of mine:

Beautiful
That’s actually where I got my base from in
Grigio Telesto Metallic.

[Kaz109]

Originally Posted by Bornagain73

Beautiful
That’s actually where I got my base from in
Grigio Telesto Metallic.

What kinda deal did they work for you?

[VirtualGuitars]

Originally Posted by Padfan9

They said .00230, what was yours?

I’ll have to go check my paperwork, but I believe it is 0.00190. I essentially got about 20K off total (including the $7500 lease incentive at the time), with about $6500 down and my payment is less than yours with the same 36/10K terms. If you got a 28K discount and have a higher payment, so the higher money factor explains it.

Dealers love to play the numbers game. You really have to work the numbers to get the real picture.

[Padfan9]

Originally Posted by VirtualGuitars

I’ll have to go check my paperwork, but I believe it is 0.00190. I essentially got about 20K off total (including the $7500 lease incentive at the time), with about $6500 down and my payment is less than yours with the same 36/10K terms. If you got a 28K discount and have a higher payment, so the higher money factor explains it.

Dealers love to play the numbers game. You really have to work the numbers to get the real picture.

Ah got it, that makes sense. Either way, I think you and I got a solid deal. I talked to a few people that have a higher monthly payment with 10k down (vs 5k) on the base model, which was like 20K less.

QQ, what tires came with your XM? I thought I’d get pirellis but I have the 22 inch wheels w the red accents and they come with Yokohama… I’ve only had Michelin on all my M cars.

[VirtualGuitars]

Originally Posted by Padfan9

Ah got it, that makes sense. Either way, I think you and I got a solid deal. I talked to a few people that have a higher monthly payment with 10k down (vs 5k) on the base model, which was like 20K less.

QQ, what tires came with your XM? I thought I’d get pirellis but I have the 22 inch wheels w the red accents and they come with Yokohama… I’ve only had Michelin on all my M cars.

I wanted the 23” wheels, so mine came with Pirelli’s. I do like your frozen black paint, but I’m not a big fan of the red stripe which you can order with or without it of course.

[mitch65]

Looks like a decent deal. My friend picked up a Label in OC a couple of weeks ago.
They gave him 10% off MSRP plus the $9900 Rebate and the lease at the buy rate which is 0.00190 this month. He did 10000 miles yr.

His deal on a 36/10K lease was $2139 plus OC tax of 7.75%. Payment = $2,305 Including tax
Total Drive off was $5,634 including all taxes and DMV fees

[Padfan9]

Originally Posted by mitch65

Looks like a decent deal. My friend picked up a Label in OC a couple of weeks ago.
They gave him 10% off MSRP plus the $9900 Rebate and the lease at the buy rate which is 0.00190 this month. He did 10000 miles yr.

His deal on a 36/10K lease was $2139 plus OC tax of 7.75%. Payment = $2,305 Including tax
Total Drive off was $5,634 including all taxes and DMV fees

I think we got the same deal. I put 5K down, and just signed my contract and saw I was wrong and the money factor was actually .00190 vs what the salesman text me. MSRP was 191k, and my payment is $2,450 with 5k down on 36/10. Very close.

[Padfan9]

Originally Posted by VirtualGuitars

I wanted the 23” wheels, so mine came with Pirelli’s. I do like your frozen black paint, but I’m not a big fan of the red stripe which you can order with or without it of course.

I may have them wrap the red with frozen black at some point, we will see. I don’t mind it. I really like the front piece that’s on the front panel with the M logo, but the rest around the windows I’m not sure, just happy it’s not on the grilles.

[VirtualGuitars]

Originally Posted by Padfan9

I think we got the same deal. I put 5K down, and just signed my contract and saw I was wrong and the money factor was actually .00190 vs what the salesman text me. MSRP was 191k, and my payment is $2,450 with 5k down on 36/10. Very close.

It’s all a numbers game. Now that you have it, it’s time to start enjoying it! Some others have gotten better deals, but I bought mine within the first days that they arrived at all US dealers and even my preferred dealer didn’t want to give me a dollar off because they weren’t sure how the market would respond to them. They gave me this deal because my family has purchased about 10 cars there in the last 5 or 6 years. Actually I asked for my deposit back, then they gave me the discount.

[Padfan9]

Originally Posted by XM Label

It’s a good deal if you get base money factor 0.00190, the money factor isn’t marked up, and no money down. Everyone’s situation is different and if you are only keeping car for shorter than 36 months it will complicate matters for sure in regards to MSD.

Originally Posted by VirtualGuitars

My 36 mo/10K lease payment is $2,398 per month on my Label. 192k MSRP, 13k off of that, $7,500 lease incentive with $20K down; however, $13.5K of that went towards the payoff of the 2023 iX M60’s that I traded-in, so essentially just a tad bit more money down (about $6,500) than you.

Moral of the story? The money factor plays a huge part in a lease and is generally where the dealer will make up for any discounts they give you upfront. You really have to run the numbers - It’s not just about the actual purchase price or lease payment amount. Sounds like they jacked up the money factor.

I was wrong on the MF. Salesman told me .0023 on text, but signing the contract today, it said .00190, and they said that’s “buy rate” and I ended up w 5K down, 10k/36 @2450 per month. I think the total savings was 18.8K plus $9,900 rebate, so almost 29K total, so I think I got the best I could based on pushing multiple dealers, using a broker and lease Hacker etc.

[Padfan9]

Originally Posted by VirtualGuitars

It’s all a numbers game. Now that you have it, it’s time to start enjoying it! Some others have gotten better deals, but I bought mine within the first days that they arrived at all US dealers and even my preferred dealer didn’t want to give me a dollar off because they weren’t sure how the market would respond to them. They gave me this deal because my family has purchased about 10 cars there in the last 5 or 6 years. Actually I asked for my deposit back, then they gave me the discount.

Yes it all depends on where you are, how long it’s been sitting, relationship etc. not sure what to believe from the dealers but they did say I got a better price per month on the label then most people on the base at least out here in SoCal.

Anyways, you’re right, time to enjoy.

[VirtualGuitars]

Originally Posted by Padfan9

Yes it all depends on where you are, how long it’s been sitting, relationship etc. not sure what to believe from the dealers but they did say I got a better price per month on the label then most people on the base at least out here in SoCal.

Anyways, you’re right, time to enjoy.

Remember that you need to get to 1200 miles on the engine for the 1200 mile break-in service, not the overall miles on the vehicle. I know you’ve had in vehicles before, but I’m not sure if you’ve had a hybrid. By default, it’s going to start in hybrid mode which will use the electric motor first unless you setup on your M buttons with e-control disabled. You’ll get full horsepower and torque when you put 300 miles on the motor. You’ll also get a nag screen every time you start the vehicle until you get to that point.

I drove around for 100 miles before I realized that I wasn’t accomplishing anything towards the motor. Obviously if you mash it in the default mode, the engine will come on. You may not care, but for people like me that drive very little, I wanted to get this over with as soon as possible.

[Padfan9]

Originally Posted by VirtualGuitars

Remember that you need to get to 1200 miles on the engine for the 1200 mile break-in service, not the overall miles on the vehicle. I know you’ve had in vehicles before, but I’m not sure if you’ve had a hybrid. By default, it’s going to start in hybrid mode which will use the electric motor first unless you setup on your M buttons with e-control disabled. You’ll get full horsepower and torque when you put 300 miles on the motor. You’ll also get a nag screen every time you start the vehicle until you get to that point.

I drove around for 100 miles before I realized that I wasn’t accomplishing anything towards the motor. Obviously if you mash it in the default mode, the engine will come on. You may not care, but for people like me that drive very little, I wanted to get this over with as soon as possible.

Thank you for this, I was literally just about to ask you about this. I’m confused on the 300 mile thing? Every M car I’ve had has the 1,100 mile break in but I don’t think anything actually gets unlocked power wise, but with this car I saw there’s the same break in service at 1,100, but what is the 300 mile thing? Does it automatically engage more power? Or it lets you have the car start in non electric mode? I noticed it starts in electric super quiet, so I configured my M buttons so I switch it to the M button right away every time.

Also, do you know what econtrol mode is? I see electric, and hybrid (which is the most powerful mode) but what’s e control?

Last question, the left (downshift paddle shifter) says “boost up” or something on it. Does it actually do anything or it’s just down shifting?

[VirtualGuitars]

Originally Posted by Padfan9

Thank you for this, I was literally just about to ask you about this. I’m confused on the 300 mile thing? Every M car I’ve had has the 1,100 mile break in but I don’t think anything actually gets unlocked power wise, but with this car I saw there’s the same break in service at 1,100, but what is the 300 mile thing? Does it automatically engage more power? Or it lets you have the car start in non electric mode? I noticed it starts in electric super quiet, so I configured my M buttons so I switch it to the M button right away every time.

Also, do you know what econtrol mode is? I see electric, and hybrid (which is the most powerful mode) but what’s e control?

Last question, the left (downshift paddle shifter) says “boost up” or something on it. Does it actually do anything or it’s just down shifting?

Here’s the short version; The XM comes limited for the first 300 miles. Once you reach that point, you’ll have full horsepower and torque. No service is required. The 1200 mile break-in service is the same as you’ve experienced on other M vehicles. You’ll make a service appointment for them to change the oil and adjust the valves and differential fluid. You won’t notice any difference when you get your vehicle back from service, but you certainly will after the 300 mile threshold.

E-control is the electric motor. If you want to get to the 300 and 1200 mile thresholds quicker, disable e-control and it will be engine only. For convenience, I setup my M1 button to do just that. There’s also an option to start the vehicle with the EV or not. When I got my vehicle back after the break-in service, I set it back to hybrid mode, but I still prefer the engine on at all times. If you set up your M1 button to sport mode, it will always run the motor.

I would not attempt to use launch control until you’ve gotten through the 1200 mile break in service, but that’s just me. Certainly don’t do it before the 300 mile threshold - and again - these thresholds are on the engine not the overall miles. In other words, if you tote around town using the electric motor at low speeds, those miles will not count towards the break-in periods. It’s really nice having the option to drive in either mode or both at the same time. Just get through your break-in periods before you really cut loose.