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BMW X3 Lease Questions

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Comments

  • gary55gary55 Posts: 3
    try going to morristown bmw I got my 07 x3 there.got a great deal,msrp 46,100 paid 43,000,put down 3,400 including n.y.s.tax. 36 month lease 12000/year $460 a month.plus first month payment and $500 security.appox$1100 in tax. Good luck Gary55
  • prothproth Posts: 4
    Thanks a lot. Good advice. Found a guy here (VT) who will do the job at the price you noted. Definitely beats the $1,000 our dealer is quoting.
  • vsaxenavsaxena Posts: 201
    I am currently driving an X3 3.0si (MSRP $48K+ Step, Sports, Premium, Cold Weather, Nav, Xenon, PDC, Cargo Net, Servotronic, Privacy Glass) with a payment of $358+tax. I did European Delivery and made multiple security deposits but no cap down. Deal was $1000 over ED invoice plus base lease rates for a 24 month/10K term. This was based on December 2006 lease rates.

    Lease payments can vary a lot depending on the current incentives. As the person who was quoted $499 for the Hyundai found out, very often you can lease BMWs at a price very close to what you would pay for a car which costs half as much :shades:

    And those who like driving BMWs should join the BMW Car Club of America. Their rebate program ($500/$1000/$1500 for 3er,5er,7er) is excellent value for the $40/year you pay.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're very welcome, addi.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi jimabood. The selling price that you were quoted for the X3 that you are interested in is around $1,800 over invoice. If you are in an area that has a decent level of competition, you may want to shop around to see if you can do a little better than that, say $1,000 over. There's no guarantee that you will be able to, but it doesn't hurt to try. 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".

    The money factor that you were quoted for this truck is a little high. BMW Financial Services' latest buy rate lease money factor and residual value for a 24 month lease of a 2007 BMW X3 with 12,000 miles per year are .00215 and 77%, respectively with the payment of a security deposit at lease signing. Make sure that this is the money factor that the dealer uses to calculate your truck's monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Welcome t_ho. 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 money factor that you were quoted for this truck looks about right to me. The truck that you described probably has a spread of around $3,500 between its full MSRP and its dealer invoice price. So you are at around $1,200 over invoice, which isn't too bad if X3s are selling as well in your area as you described. If you like the truck, I personally don't see any reason not to go for it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Welcome jojo718. Unfortunately, you will not receive any refund from BMW for the miles that you did not use during your lease. While I suppose it might be possible to purchase your vehicle at the end of your lease and then turn around and sell it or trade it in for a profit if you were enough under your allowed mileage, given how artificially inflated BMW Financial Services' residual values are it is unlikely that you would be able to make money doing this.

    The selling prices of ordered vehicles are negotiable, just like vehicles that dealers have in inventory. Having said this, most dealers prefer to sell a vehicle that they already have in stock to ordering one for a customer. This is for two reasons. One, dealers are constantly paying floorplan interest on the vehicles that they have on their lot. The sooner they sell them, the sooner they can stop paying interest on them. The second reason can be described using the old saying "a bird in hand is worth two in the bush." From the dealership's perspective, the sooner you drive off in your new vehicle the better. A lot can happen to sour a deal on an ordered vehicle over the course of several months. Dealers would rather book a deal immediately than risk losing it by waiting.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    I'm glad that you enjoy this site so much, drews1. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 BMWX3 with 12,000 miles per year are .00215 and 67%, respectively. Using these numbers, an MSRP of $43,920, and a selling price of $41,600, I estimate that this truck's zero down, pre-tax monthly payment should be around $491.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi lasher30. The money factor that you were quoted looks good (it has since been increase to .00215), but the selling price looks a little high. You are only being given an $800 discount on a truck that has a spread of at least $3,500 between its MSRP and dealer invoice price. Plus, this is really only like a $600 discount because dealer is marking up BMW FS' acquisition fee by $200. I personally would want a much larger discount than this on this truck. Try stopping by the following discussion to see how much other community members have paid for similar vehicles lately: "BMW X3: Prices Paid & Buying Experience".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi proth. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 BMW X3 with 15,000 miles per year are .00215 and 65%, respectively with the payment of a security deposit at lease signing.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    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: 38,518
    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: 38,518
    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".

    Car_man
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    Prices Paid Forum
  • 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:
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