When considering the purchase of a new 2024 BMW X5, the amount you should expect to pay varies significantly based on the specific trim level and features you choose. Generally, you can expect to pay anywhere from around $62,000 to over $85,000 for a new 2024 model, before options, taxes, and fees. The Kelley Blue Book (KBB) Fair Purchase Price serves as a strong indicator of what others in your area have recently paid for the vehicle, often being a more realistic target than the Manufacturer's Suggested Retail Price (MSRP).
2024 BMW X5 Pricing Overview
The price of a new BMW X5 depends on the trim level, which determines the engine, standard features, and drivetrain. Below is a breakdown of the Manufacturer's Suggested Retail Price (MSRP) and the national average KBB Fair Purchase Price for each 2024 BMW X5 trim:
| Trim | MSRP | KBB Fair Purchase Price (National Average) |
|---|---|---|
| sDrive40i | $66,195 | $62,104 |
| xDrive40i | $68,495 | $64,700 |
| xDrive50e | $73,495 | $69,371 |
| M60i | $90,295 | $85,301 |
- MSRP (Manufacturer's Suggested Retail Price): This is the price the manufacturer recommends. It often includes the destination charge but typically excludes options, taxes, title, and licensing fees.
- KBB Fair Purchase Price: This represents what consumers are typically paying for a vehicle, factoring in market conditions, supply, and demand. It's often a more accurate reflection of the actual transaction price you might achieve.
Understanding What Influences Your Final Payment
While the figures above provide a solid baseline, several factors can influence the final amount you pay for a BMW X5:
- Optional Features and Packages: BMW offers a wide range of optional upgrades, including premium paint colors, advanced driver-assistance systems, luxury seating, enhanced audio systems, and performance packages. These can add thousands of dollars to the total price.
- Dealer Incentives and Discounts: Dealerships may offer various incentives, special financing rates, or discounts, especially towards the end of a model year or during specific sales events.
- Location: Pricing can vary slightly by region due to local demand, taxes, and dealer costs.
- Negotiation: The final price can be influenced by your negotiation skills. Researching the KBB Fair Purchase Price before visiting a dealership can provide a strong basis for negotiation.
- Trade-in Value: If you have a vehicle to trade in, its value will reduce the amount you need to pay out of pocket for the new X5.
- Taxes, Fees, and Licensing: Don't forget to factor in sales tax, registration fees, and other administrative costs, which can add a significant percentage to the overall price.
To determine how much you should pay, start by identifying the specific 2024 BMW X5 trim that meets your needs and budget, then research its KBB Fair Purchase Price in your local area.
