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BMW X3 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey microchip. You really should find out what this truck's selling price is. You wouldn't finance or pay cash for this truck without knowing what you were being charged for it right. Not knowing the selling price of a leased vehicle is similar to that. This number makes it much easier to tell how good a deal you are getting. If you let me know what the selling price is, I will gladly tell you what I think of this deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi z0rglub. As long as the demo vehicle that you are interested in has never been titled it should still technically be considered a "new" vehicle and it would be eligible for BMW Financial Services' special lease program. The money factor that you were quoted looks good to me. I actually believe that BMW FS' new May buy rate for the 2007 X3 is .00215 with the payment of a security deposit at lease signing. A selling price of $32,000 would be a very good deal if you were able to get it.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks siuside :) . The money factor that you were quoted for this truck looks good to me. It is right in line with BMW Financial Services' current buy rate for this model. I personally would want more of a discount on it though. The 2007 BMW X3 that you described has a spread of at least $3,500 between its full MSRP and its dealer invoice price, but you are only being given a discount of $900. It wouldn't hurt to comparison shop a little bit to see if you you can do better than this. Make sure to stop by the following discussion to see how much other community members have paid for similar trucks lately: "BMW X3: Prices Paid & Buying Experience".

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  • hugo5hugo5 Posts: 68
    I am looking to find out the price(msrp & sales Price) of a total base 2007 X3
    Lease would be for 36 month with 10k miles.
    what is the May residual value and MF?
    Thanks,
    Hugo
  • hpowdershpowders Posts: 4,269
    68% residual value and 0.00215 MF.
  • hugo5hugo5 Posts: 68
    thanks! Is the base price listed on edmunds right for msrp @ $38,000 and invoice @ $34,960. If so, what would be a good negotiated price?
  • prothproth Posts: 4
    Thanks for the info. It's appreciated.
  • joechicago7joechicago7 Posts: 22
    Hello everyone,

    36 month - 15k/year leases use a residual value of 0.65

    Can someone let me know the residual value for high mileage leases? (such as 16k, 17k, 18k, and 20k)?

    Thanks
  • 4kids4kids Posts: 7
    Hi...we were interested in leasing an X3...we should've done so in Jan when the programs were really good...but anyhow, does BMW offer specials during the Memorial Day Weekend? I called a few dealers and some said yes and some said no and weren't able to give much more info than that. :confuse: Any predictions?
  • shagzieshagzie Posts: 8
    My first lease and also first car purchase alone. I'm thinking about walking in with these numbers:
    MSRP: $47,660
    Purchase Price: $45,917.00
    36mnths 10k miles
    MF: .00255 (given by local dealer)
    Residual: 68% (given by local dealer)
    Trade-in: $8,500
    WV sales tax: 5%
    Acquisition: $795 (given by local dealer)
    Security Deposit: $400 (given by local dealer)

    With the edmunds calculator, my monthly payment would be $381.11, if I did it correctly. Are these good numbers, talk them down lower, or just wait cause this isn't a good time for an X3 lease? Being female, I'm just worried about getting ripped off. Thanks!! April :confuse:
  • joechicago7joechicago7 Posts: 22
    I bought an X3 this week (in the chicago area) and I got $2,600 under MSRP. You are only getting a $1,743 discount.

    Also, I had a trade-in and I just took the trade in value upfront. Your payment will be higher and you might lose the sales tax break, but you don't risk losing the money if your car is stolen or totaled.
  • shagzieshagzie Posts: 8
    Thanks Joe. I came up with the $1,743 number on Edmunds (what people are actually paying for this exact car). So now I want at least that but will go for more. Maybe I'll buy the Negioations for Dummies book :shades: The gentleman at the the dealership stated that Gap insurance is included in the lease. I'll have to look into the details but I just assumed if the car was stolen or totalled, that would be taken care of. At the end of the lease, I am still considering purchasing it. I'd also thought of maybe putting down half of the $8500 and putting the other in a good savings account to use later if I did decide to do so. Thanks again, April
  • shagzieshagzie Posts: 8
    I read your message again, and now I understand what you're saying about putting the $8,500 down. I'd still be losing it if the car was stolen or totalled. Sorry I'm a little slow today. April
  • joechicago7joechicago7 Posts: 22
    Yes. Just taking the $8,500 upfrount would add about $250 to your monthly payment.

    Your car must really be loaded. Mine was loaded with a MSRP of $45k. You must be getting the sport package and 18" wheels also.
  • jojo718jojo718 Posts: 7
    Thanx for the follow-up "Car Man". Do you know anything about the Credit Card points.. have you or anyone cashed those in??? Was it straight forward or not??? I'm gonna take the hit on the miles, but probably order my custom vehicle. Any further advise you can offer will be greatly appreciated....
  • hey I was looking to lease a New X3. when I contacted the Dealership (in Kansas City) a fully loaded MSRP around 46,000 -- 36 months -- 15k/year mileage was like $715 a month. I haven't yet been in to negotiate a lower price off the MSRP, but how are you guys getting these leases for the $450 - $550 range? they said that the taxes and licensing was included, will just negotiating the purchase price to about $43,000 get my lease under $600? or how in the world can I get my lease payment near the $500 range?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi joechicago7. 15,000 miles per year is the highest mileage allowance that BMW Financial Services publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the end of your lease and have to pay an excess mileage penalty. I'm not sure exactly how much BMW FS charged per additional mile at signing, but someone at the dealership that you are working with, either your salesperson or the F&I person, should be able to tell you.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi 4kids. The dealers that told you BMW offers Memorial Day specials were just trying to get you to come in so that they could sell you a vehicle. BMW did not do anything special for Memorial Day. Its June lease program for the 2007 X3 is very similar to its May program.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Welcome shagzie. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    The first thing that I noticed about your deal is that you plan on trading in your current vehicle when you lease your new one. There's nothing wrong with trading in a car or truck when you lease your new one, but it would be in your best interest to have the dealer that you are working with cut you a check for your trade rather than using the proceeds from it as a down payment for your lease. I always advise consumers against making large down payments on leases. Those who do, risk losing all or part of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered.

    Also, the money factor and acquisition fee that you were quoted for this truck are too high. BMW Financial Services' current buy rate lease money factor for a 36 month lease of a 2007 X3 is only .00215 with the payment of a security deposit at lease signing and its base acquisition fee is only $625. It appears as though the dealer that you are working with is marking both of these items up to add additional, hidden profit to your deal. Try to find a dealer that will use the base factor and acquisition fee.

    Now let's take a look at this truck's selling price. The X3 that you described probably has a spread of around $3,800 between its full MSRP and its dealer invoice price. You are being given a discount of $1,700 on it, which is still around $2,000 over invoice. There's still some room to play with here. It wouldn't hurt to comparison shop with a few other dealers to see if you can beat this deal. Also, make sure to stop by the following discussion to see how much other community members have paid for similar trucks lately: "BMW X3: Prices Paid & Buying Experience".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome, jojo718. I've never used credit card points on a BMW before, but doing so shouldn't be difficult. Negotiate the best possible deal that you can on the vehicle that you want and then tell the dealer that you would like to have your earned points subtracted from that.

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  • kp22kp22 Posts: 20
    Can someone please provide me with the most recent money factor and residual value on a 36 month lease with 10,000 miles?

    Also, it would be very helpful if someone can provide me with a link to a listing of money factors and residuals on the BMW or BMW Financial Services website. I have seen older schedules on other posts but cannot find the information on the BMW websites themselves.

    I would greatly appreciate any assistance.
    Thanks!
    - kp22
  • jojo718jojo718 Posts: 7
    I will. There is still a few months until I actually get my new X3. I will post the results once I have started and finalized the process. For those who read this post, you can earn points on the BMW Visa and use them towards your next lease. I will let everyone know how that plays out once I have done so. If anyone has had this experience already, please share with me......

    BTW
    Does anyone know if they are going to drop the 300hp 3 series engine in the X3 and when?????
  • minoteminote Posts: 13
    Hi Car Man,
    Looking at an X3:
    Terms 15/36 BMWFS
    MSRP 42950 (prem pack, xenon adaptive headlight, privacy glass, metallic color)
    Buy price (looking for around) 40000 (is it possible?)
    Cap Cost: 43000 (includes all CA tax, tags and acq fees)

    What would be good lease payment with $0 down?
    Are my numbers above looking good? I want to shoot for up to $500 incl tax for mthly pmt.
    I would like to deal with dealers thru emails so any opinions you could give me about my numbers are so very appreciated.
    Thanks for your opinion in advance, Car Man! :)
  • ipip316ipip316 Posts: 8
    Hi All and Carman:
    Went to dealership today and got a quote for X3 with Auto, Xexon light, Nav Package and Matellic Paint.

    MSPR: $41850.00
    Cap Cost: $39600.00
    Adjusted Cap cost: $40612.91
    Res. value: 77%
    lease factor: 0.00215
    24 month 12k/ year
    NYC 8.375%

    total sales tax: $1012.91
    DMV Doc: $452.50
    ACQ Fee: $625.00 (donno what is it)
    Security deposit: $550.00
    amount due at signing: $2133.62
    monthly payment: $506.12

    Any idea do i get a good deal? please advise.

    Thank you
  • jvosjvos Posts: 61
    Joechicago -

    can you please post the details of the X3 you bought last week? Did you buy or lease?
  • timmbojtimmboj Posts: 123
    Does anyone know how I can figure out how the taxes get paid on an out-of-state lease? Like, if I'm in Tennessee, and I lease a vehicle in Texas and bring it back to Tennessee, how does it all work out? Does the dealer handle this? Or do I need to ask Tennessee government officials what the procedures are? Seems like it would be an easy thing for dealerships to handle, but I want to know so there aren't any surprises.

    Thanks!
  • jvosjvos Posts: 61
    With neighboring states, the dealder is typically knowledgeable and can handle it all. Otherwise, I think its handled (paid) when you go to get your plates.

    I am curious why you'd go to Texas to leave a vehicle if you live in Tennessee.
  • helaynahelayna Posts: 2
    My dealer has offered the following deal:
    2007 BMW X3 in Alpine White with Sand Beige Leatherette and equipped with auto transmission, heated steering wheel and front seats as well as privacy glass. MSRP is $40025. The current "price" is $39325. Money factor appears to be .00255, term is 36 months with 10K miles. They have me paying $5300 at signing ($450 is security dep.). Taxes are listed as $3683 - our sales tax rate here is 7.55%. The monthly lease payment is $448.23. I want to pay nothing down and negotiate to a net capital price of $38000 or pay $1000 down for a net capital price of $37000. I cannot understand why the need for the $5300 down - it doesn't add up. What are they doing?????
  • british_roverbritish_rover Posts: 8,476
    Are you paying all of the sales tax for the lease up front?

    If so the sales tax plus security deposit plus the first payment nearly equals 5,300 dollars. Throw in a few hundred dollars for registration, plates and doc fee and you have 5,300 dollars.
  • kyfdxkyfdx Posts: 28,017
    This looks like a bad deal.. even if you are paying all of the tax upfront..

    Also, that tax amount is huge... do you live in Illinois or Texas?

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