How Much Does It Cost to Lease a BMW X5?
Are you considering leasing a BMW X5 but want to know how much it will really cost each month? With lease prices starting around $980 per month, the luxurious BMW X5 SUV can fit many budgets. But there’s more to the true cost than just the monthly lease payment.
In this comprehensive guide, we’ll break down BMW X5 lease deals and specials, cost comparisons of buying vs leasing, and tips for customizing your perfect X5 lease. Read on to learn exactly how much you can expect to pay when leasing an X5.
BMW X5 Lease Options and Average Costs
The average lease payment for a BMW X5 ranges from $1,046 to $1,098 per month, with $2,000 due at signing for a 36 month term. But payment amounts can vary greatly depending on:
- Lease length (24 to 48 months)
- Annual mileage limits (10k to 15k miles)
- Choice of X5 trim & options
Additionally, current lease deals and incentives could make your monthly payment lower than average.
Here’s an overview of common X5 lease terms:
| Term | Monthly Payment | Down Payment |
|---|---|---|
| 24 months | $1,401/mo* | $2,000 |
| 36 months | $1,063/mo* | $2,000 |
| 48 months | N/A | N/A |
*Average based on 12k miles/year
The amount due at signing an X5 lease is similar across most lease specials, averaging $2,000. This includes fees like:
- First month’s payment
- Security deposit
- Acquisition fee
- Bank fee
- Registration fees
Paying additional money upfront can reduce the monthly cost but increase your total out-of-pocket expense when leasing a BMW X5.
2024 BMW X5 Lease Deals
For the latest and greatest BMW luxury SUV, there are some attractive lease options on the newly redesigned 2024 BMW X5.
Current lease specials on the 2024 X5 allow highly qualified lessees to get behind the wheel for around $980 per month. Here’s an example 36 month lease offer on the popular xDrive40i from a Florida BMW dealer:
| Vehicle | 2024 BMW X5 xDrive40i |
|---|---|
| Lease Term | 36 months |
| Monthly Payment | $979/mo |
| Down Payment | $4,585 |
| Amount Due at Signing | $6,489 |
| Annual Mileage | 10,000 miles |
This payment is based on an MSRP of $70,695 and is available until 2/29/24. With the latest high-tech safety and infotainment options, as well as a modern turbocharged engine, the new X5 balances utility and luxury. The national average cost for a 24 month lease on this model is closer to $1,401 per month.
Cost Comparison: Should You Buy or Lease a BMW X5?
Deciding whether to lease or buy a BMW X5 depends largely on your budget and intended length of ownership of the vehicle.
Although leasing often offers lower monthly payments, you don’t own or build any equity in the X5 at the end of the lease term.
Here’s an overview of cost considerations when buying vs. leasing a BMW X5:
Pros of Leasing an X5:
- Lower monthly payments ($980 – $1,400 per month)
- Pay based only on vehicle depreciation
- Includes warranty and maintenance
- No down payment required
- Always driving a newer vehicle
Cons of Leasing:
- Don’t build equity or fully own vehicle
- Strict mileage limits per lease terms
- Extra charges for excess wear at turn-in
- Extra fees like disposition or acquisition fee
Pros of Buying an X5:
- Build equity as you pay down the loan
- No mileage restrictions
- Can sell or trade-in the vehicle later
- Full ownership at the end of your loan
Cons of Buying:
- Long term commitment of 4-6 years
- Higher monthly payments
- Responsible for repair & maintenance costs
- Stuck with an older vehicle long-term
Ultimately buying an BMW X5 tends to make the most financial sense if you plan to keep the vehicle beyond 3-4 years. Leasing can be advantageous if you want to swap cars more frequently and drive less than 15k miles annually.
Negotiating the Best BMW X5 Lease Price
When armed with the right information, you can negotiate the most competitive BMW X5 lease price. Here are 5 tips:
- Check for current lease deals & average costs for your area
- Line up pricing from multiple dealers via email
- Apply for credit pre-approval to strengthen negotiating position
- Calculate fees included to know your bottom line total cost
- Request a lease quote worksheet to compare proposals clearly
Additionally, find out if the quoted monthly payment includes amounts like:
- BMW acquisition fee ($925)
- Security deposit
- First month’s payment
- Registration fees
If not, factor them into the total amount due at signing. Reducing or waiving the security deposit could save up to $1,000 upfront.
BMW X5 Lease Deals by Model & Packages
Lease payment amounts can vary across BMW X5 model lines, as well as choice of optional features.
Here’s how monthly payments might differ:
| BMW X5 Trim | Average 36-mo Lease |
|---|---|
| sDrive40i | $1,046/mo |
| xDrive40i | $1,063 |
| xDrive45e plug-in hybrid | $1,219* |
| M50i | $1,374* |
| *Limited lease data available |
Trims with the M Sport package or executive seating packages will also increase the vehicle price, raising lease payments. More popular packages like parking assistance, premium sound systems, and head-up displays can exceed monthly average costs.
However, factor in federal EV tax credits worth up to $7,500 if you lease the X5 xDrive45e. This effectively reduces your monthly payment to compensate for the higher MSRP of the plug-in hybrid.
Customizing Your X5 Lease
BMW X5 lease deals allow you to tailor the agreement based on driving needs:
1. Mileage allowance – Most standard lease terms include 10k-15k miles per year without penalty. Adding extra miles upfront cuts back on overage charges later.
2. Lease length – You can often choose lease terms shorter or longer than 36 months. A 24 month term raises the payment but builds equity faster.
3. Condition at turn-in – To avoid excess wear and tear fees, keep the X5 in good shape and detail the exterior and interior thoroughly before lease end.
Carefully read your lease contract to understand included services like maintenance plans and mileage overage charges per BMW’s current lease end fee schedule.
Conclusion
A properly equipped BMW X5 leased with current incentives can run between $980-$1400 per month depending on lease length and services included. Balance size, luxury, and technology features when leasing a BMW X5 tailored to your budget and lifestyle.
Key takeaways:
- 36 month lease deals average $1,063 monthly
- Lower payments possible with shorter 24 month terms
- Buy for longer commitment, lease to swap cars faster
- Check for deals on 2024 model X5 SUVs
Leasing costs ultimately come down to BMW X5 configuration and lease term length. Now that you know exactly what to expect at the dealership, you can score the perfect tailored lease on BMW’s ultimate driving SUV.
