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BMW X3 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi redbone55. BMW is providing lease support on the 2010 X3, but I wouldn't exactly say that its current program on it is amazing.

    BMW Financial Services' August buy rate lease money factor and residual value for a 36 month lease of a 2010 X3 with 15,000 miles per year are .00150 and 57%, respectively for consumers who qualify for its top credit tiers.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to help you out, sdhlaw1701.

    BMW Financial Services' August buy rate lease money factor and residual value for a 36 month lease of a 2010 X3 with 12,000 miles per year are .00150 and 59%, respectively for consumers who qualify for its top credit tiers.

    Car_man
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  • Does anyone know what proportion of BMWs are leased versus purchased?

    It seems as if most of the new ones are leased and then someone else purchases the lease returns. Just a wild guess from the chatter.
  • Interesting question pp2009pp. The percentage of BMWs that are leased varies from model to model and from month to month. On many BMW models practically half of them are leased.

    Car_man
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  • Carman,

    Can you tell me what the money factor and residual is on the 2010 X3 ---36 month with 15,000 miles/year?

    Thank you,
    sgaister
  • I'd be happy to help you out, sgaister.

    BMW Financial Services' October buy rate lease money factor and residual value for a 36 month lease of a 2010 X3 with 15,000 miles per year are .00230 and 46%, respectively for consumers who qualify for its top credit tiers.

    As you can see, BMW is not really providing any lease support on this truck right now, but it is providing $4,000 dealer cash on it. Make sure to take this cash into account during your negotiations.

    Car_man
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  • I'd wait on the re-designed 2011 version that'll cost 2k less than the 2010 and offer a better residual.
    Nothing like the Q5 to offer competition and reveal how over-priced the X3 has been all these years.
  • That's excellent advice, lmariorod. The current generation X3 has been sort of dead in the water for a while now.

    Car_man
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  • Hi there... I got a lease quote from my local dealer - and here is what they quoted me:

    Car built:

    2011 BMW X3 with Metallic paint
    -Cargo Net
    -Heated Steering Wheel
    -Heated Front Seats
    -Navigation
    -Panoramic Roof
    -Power Tailgate
    -Smartphone integration
    -Xenon Headlights

    36 months
    $2542.39 due at signing ($750 is a security deposit which will be returned)
    10,000 miles per year
    $738.44 with tax included...payment

    FYI tax is 10% where I live...

    Is this a bad deal? It seems somewhat high considering you can get an X5 for maybe $120 more a month and that is a whole heck of a lot more car... figured it was a bit high - more so since my quotes on the X5 were not much higher & taking into account the lower base price... based on my calculations - I am looking at paying roughly 54.8% of the truck - meaning the residual value is in the toilet... I think the salesman either needs to tell his finance group to sharpen their pencils... or check out another dealer... I am in no rush to get into a vehicle, yet, but am trying to get a ball park... I am waiting on a response to what residual value it is that BMW is using since it was just released to the dealers.

    Any opinions/advice/etc.. would be appreciated!
  • nyccarguynyccarguy Stamford, CTPosts: 8,008
    If you're looking to get into a brand spankin new 2011 BMW X3, leasing is not the way to go. The 54.8% residual value is probably about right since the vehicle is brand new (has it even hit the showrooms yet?) and the residual value in 3 years cannot be predicted. Furthermore, being that the X3 isn't out yet (or is just hitting dealer lots) means that BMW doesn't have to boost the residual value (like when I leased my wife's X3 in '07 - 65%) or offer a dirt cheap money factor.

    Even the X5 which has been out for a while (same body style since '07 MY) has never had lease rates that have blown my socks off.

    I think if you are looking for a BMW truck right now, the way to go is an X5. The MSRP will be more compared to the X3, but you can negotiate a "skinny" $1000 over invoice deal + get crazy cheap financing (I think BMWFS is offering 1.9% for 60 months). If you only do the 10,000 (less than 200 miles per week? Who does that?) miles per year, then in 3 years you'll have a 2011 X5 in great condition, still under factory warranty, that you'll be able to sell for more than you owe the bank.

    Obviously either way you go isn't cheap. If you really want the new X3, then you should wait. Otherwise you'll be paying a premium to lease the first one on the block.

    Good luck & keep us informed!

    2001 Prelude Type SH, 2011 Pilot EX-L 4WD, 2015 Subaru Legacy 2.5i Premium

  • Can anyone tell me whether a 15000/36month Lease for a base model 2011 X3 for $560.00 month with $2,500 out of pocket is a good/bad deal?
  • Hi chris1361. It's much easier to evaluate this deal if we know what this truck's MSRP and selling price are. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without these numbers it is much more difficult to tell how large a dealer discount you are being given and in turn if there is any room left to negotiate. Let us know what they are and I'm sure that either myself or another knowledgeable community member will gladly tell you what they think.

    Car_man
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  • Just wondering if BMWFS has issued the lease factors for the 2011 X3 yet? I cannot find it posted anywhere with the other November lease factors.
  • kyfdxkyfdx Posts: 31,190
    You probably won't... can't get an X3 in November, can you?

    MODERATOR
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  • Actually you can order now and the BMW website has the X3 models listed with their current lease specials. I just cannot figure out from the details what the lease factor is. I will ask my dealer and post what they tell me.
  • kyfdxkyfdx Posts: 31,190
    Well.. you are correct... if they have a proposed lease, then someone has to know the residuals and money factors... From the ad on the website, you can extrapolate the residual..

    On the X3 2.8 model, the 3yr/45K residual is 56%... I'd guess that they are using the standard BMWFS lease money factor, right now... which should be somewhere around .0023 (but, that's just a guess on the money factor).

    You can't extrapolate all the numbers, because the ad doesn't reveal the selling price (or CAP cost) that they are using.. ("may require dealer contribution").

    regards,
    kyfdx

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  • Does anyone have any idea what credit scores BMWFS looks for to determine lease MF rates? Do they take into consideration income or is it strictly credit? It sounds like they previously had pass/fail, but have recently changed it to a tiered system. Do you know what the score was for the pass/fail system. Thanks.
  • You are correct, both models are 56 percent, and both the same on the MF. My dealer was not showing a holiday credit but I am just noticing that there may be one, too, which makes it a pretty good lease. I have bought several BMW's there and they quoted $700 over invoice on an order, production begins in January but because it is built in SC he says the vehicle will arrive 2 weeks after start of production.

    There was an auto show in Phoenix last weekend but the dealer had the X3 in the showroom.
  • kyfdxkyfdx Posts: 31,190
    The brochure that I just got in the mail says the X3 doesn't qualify for Holiday Cash... :(

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  • Just got the same brochure. One of the dealer websites clearly, but mistakenly, said it applies to "selected 2011 X3 Models." I spent an hour trying to track it down but decided it was just a mistake. Thanks for the follow up.

    I've read and seen such good things about the new X3 that we are going to order one to replace my wife's SRX, which she liked much better that her earlier X3. Even though there are really good rates on the Mercedes ML 350 (She's "always wanted a mercedes"), everything in invetory has $6,000 to $8,000 of options, and the dealers don't seem to want to order or to pass though rates without marking them up, so that vehicle ends up costing much more. They also imply that they can't hold current lease rates if you order. The X3 looks and drives better anyway.
  • Hi,

    This site has been extremely helpful in leasing my last two vehicles and I am looking for information once again on the BMW X3 28i. I would like to know what the money factor and residual is on this vehicle for 36 months with both 10,000 and 12,000 miles per year. I am in NJ. From my research, it appears that the msrp before options is about $38,000 and the invoice is about $33,000. How much above invoice should I try for this vehicle. In addition, I am turning in a bmw - is there currently any loyalty cash or other incentives that I should be aware of and if so, would that be applied after I negotiate the final price of the car?

    I have also looked at the volvo xc60 and am trying to determine which of these cars is the better deal right now.

    thanks so much!
    nicole
  • nyccarguynyccarguy Stamford, CTPosts: 8,008
    is what you are concerned with, then you're probably going to end up with the Volvo. They've probably got cash or lease incentives that BMW is currently not providing on the just released 2011 X3. Good luck & keep us posted!

    2001 Prelude Type SH, 2011 Pilot EX-L 4WD, 2015 Subaru Legacy 2.5i Premium

  • Hi nicole. Here's the information that you're looking for.

    BMW Financial Services' December buy rate lease money factor and residual value for a 36 month lease of a 2011 X3 28i with 12,000 miles per year are .00230 and 58%, respectively.

    The residual value for an otherwise identical lease with only 10,000 miles per year would be 1% higher.

    I am not personally all that familiar with what the market is like for the new X3 right now in your area. I would think that dealers would try to get as much for a new model as possible when it first comes out, particularly a new SUV in the middle of winter. I personally would be comfortable paying $1,000 over invoice. Shoot for it and see what happens.

    Car_man
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  • hi,

    thanks for the information that you provided last month regarding the 2011 bmw x3 28i. the dealer that i am working with has indicated that the programs have slightly improved on this car for the month of january. do you have those numbers for 36 months with 10,000 and 12,000 miles per year? also, any incentives i should be aware of?

    thanks!
    nicole
  • You're welcome nicole. Here's an update for you.

    BMW Financial Services' January buy rate lease money factor and residual value for a 36 month lease of a 2011 X3 28i with 12,000 miles per year are .00205 and 58%, respectively.

    This factor drops to .00175 for loyal customers.

    If you were to lease with only 12,000 miles per year, this truck's residual values would be 2% higher.

    BMW is not currently providing any cash incentives that I am aware of on the X3.

    Car_man
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  • wow - glad that i followed up for the new january numbers b/c this is different than what i got from the dealer. here is everything i was given by the dealer and if you wouldn't mind looking at these numbers and letting me know if the fees are marked up too?

    I think the selling price is a good deal - I am going to be ordering a 2011 X3 28i with heated seats and moonroof for 36 months in NJ with 10,000 miles per year.

    MSRP - $39665
    Invoice - Approx. - $36,370
    Selling Price - $36,900
    Money Factor - .00205 (I am a current BMW lessee, which they know so I should qualify for the .00175 but there was no mention of that)
    Residual - 59% (just want to confirm whether it is actually 60% b/c in the last post you wrote for 12,000 it would be 2% higher but I think it should say 10,000 - so I am not sure if the residual is actually 59% or 60% for 10,000 miles per year).

    Now as far as out-of-pocket fees:
    First month payment - $?
    Bank Fee - $725
    DMV - approx $300
    Tire Fee - $7.50
    Dealer Doc Fee - $249.00 (I thought I read here in another posting that this was lower but I want to confirm before I go back to the dealer).

    Lastly, if I decide to roll all fees in and do a sign and drive - how would i add that to the calculation? Does it add on to the selling price or get added it after the initial calculation?

    Thanks so much for your help!
    Nicole
  • Hey Nicole. The numbers for a 36 month, 10k lease of this truck are .00175 and 59% for loyal customers.

    If you decide to roll the fees that you would normally have to pay at lease signing into your payment, you will have to add them to your car's capitalized cost before your payment is calculated.

    Car_man
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  • jrr766jrr766 Posts: 1
    Hi,

    What is required to qualify for the loyal customer rate? I have never leased a BMW of any kind, but I currently have a Z4 that I am financing through BMW Financial services. Should I be able to get the .00175 rate on an X3?

    Thanks
  • kyfdxkyfdx Posts: 31,190
    If you currently have a BMW financed with BMWFS, you should qualify...

    MODERATOR
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  • Does this sound like a decent deal:

    Starting MSRP: $36,750.00

    Premium Package: leather seating, panoramic sunroof, interior light package, auto dimming mirrors, lumbar support, storage package and universal garage door opener. $3,450.00
    Heated Front Seats: $500.00
    Heated Steering Wheel: $190.00
    Satin Roof Rails: $250.00
    Satellite Radio with 1 year subscription: $350.00
    Destination Charge: $875.00

    MSRP: $ 42,365.00

    Money Factor: .00220
    Residual: 58% or MSRP

    Lease Structure;

    36 Months / 12,000 miles per year

    0 Cap Cost Reduction with only 1st payment and a $75.00 tag/doc. fee due at signing would garner a monthly payment of $678.91.*

    $1,500.00 total due at signing would garner a payment of $655.76* per month.

    $3,000.00 total due at signing would garner a payment of $609.15* per month.

    *Taxes and fees included.
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