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BMW X3 Lease Questions

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  • nyccarguynyccarguy Stamford, CTPosts: 7,101
    We got the X5 for $1000 over invoice which is a very good price considering the car has been out for less than a year and is selling pretty well.

    I'm not entirely sure how much over invoice the X3 is (I'll let you know when I pick the truck up).

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

  • texgastexgas Posts: 7
    If you can't get good deals in Houston, I suggest checking out Garlyn-Sheldon (not 100% sure the spelling) BMW in Bryan-College Station. It's 80 miles from Houston. They are smaller and simpler and would do deals that Houston would not. Also, it seems like the dealersips North of town have less customers and are more willing to give more discounts. Good luck
  • sshhermansshherman Posts: 2
    Thank you for hosting this forum; it has been a help in my current negotiations however I still need some guidance.

    I am talking to my dealer about leasing a x-3 for my wife. I never leased a car before and am new to the terms "money factor", residual value, etc.

    The car we are looking at has an MSRP of just over $48,000 (sorry, forgot to get the exact $ amount. The salesman prepared a proposal and printed out a "lease review" for me.

    I am trying to put numbers together so I can do some of the calculations to see what kind of deal I am getting from my dealer. My deal today is as follows:

    MSRP: 48,000 +
    from the lease review sheet:

    Gross Cap Cost: 47,690
    Sales Tax (7% in NJ): 1,697.07
    Cap Reduction: 2,500
    For a net cap cost of 46,887

    I can see how the above adds up but am not sure where the Gross Cap cost comes from or what the sales tax is computed on.

    Then comes the 2nd part:
    Adj Residual: 26,960.00
    Total Term Depreciation: 19,927.01

    Monthly Depreciation 553.53
    Mo. Lease Charge: 84.19
    For a base payment of: 637.72

    I guess here it is the residual I don't know where it came from; I assume the depreciation is a "plug" that when added to the residual equals the net cap cost above.

    That said the lease is based on a 65% residual value on the vehicle at 15,000 mi/year, however we are basing it on a 25,000 per year lease. I guess this is where my problem is, trying to get from the 15 K lease to a 25K lease.

    I also, per your forum, suggested puting 7 more security deposits (@750 each)down, so the money factor is somewhat less than the .00215 which brought the monthly payment down from 713 +/- to the 637.72.

    I am just trying to find the "skeletons in the closet" so I may negotiate smartly with the dealer. If you see anything out of line would you kindly let me know.

    Thanks for your help
  • minoteminote Posts: 13
    Please give me your thoughts, thanks!

    I sent an email to my local dealership re: 07 X3 with metallic exterior, premium package, xenon adaptive headlights, privacy glass, steptronic engine and lojack (don't want it but that's the package) for $42,950 MSRP.

    Here's my numbers:
    $42,950 MSRP
    $39,735 Cap cost
    36mo/15K lease
    65% residual ($27,917.50)
    Money factor .00215 (base rate)
    Payment = $473.72/mo. + CA sales tax (approx. $510/mo. total) with BMWFS
    Due at inception: 1st payment ($510), security deposit ($550), title/license/registration fees (approx. $200)
    Total due at signing approx. $1260.00

    -----------------------------------------------------
    Here's the reply from the dealership:
    The invoice of the X3 that you inquired on is actually $40,015 (I am happy to show you the invoice when you come in) and your selling price is $40,500. If we roll the bank fee to lower your drive offs your payment goes up. So here is what I have:

    36 month 15k miles per year $535.15 + tax $576.62 with $576.62 drive offs.
    ------------------------------------------------------------

    I said the numbers are too far apart with my numbers and was hoping she would respond with numbers closer to mine. But she didn't want to get my business.

    Is my numbers too low for the car with all the options I wanted? I was hoping to make a lease by end of July, but looks like it won't happen. :confuse:

    Thanks!
    minote
  • pjo1966pjo1966 Posts: 120
    A local dealer in LA told a friend that they were going to be having great deals on X3s next month. Is that all BMW dealers, or does this sound like a special that the dealer is doing on their own?
  • minoteminote Posts: 13
    Hi pjo1966, would you let me know which dealer in LA that will be having a great deals on X3s? Thanks, minote.
  • minoteminote Posts: 13
    A local dealership in San Diego quoted me these numbers for 07 X3 w/ metallic exterior color, heated seat, premium package, xenon adaptive headlight, privacy glass:

    MSRP $43,450
    Selling price $40,970 ($500 above dealer price)
    for 36m/15K lease, she requested $982.78 down and $598.54 monthly.
    By using lease calculator with 65% residual value & .00215 MF & 7.75% CA sales tax, the total purchase or their net cap cost is $43,379.

    I think that is too high and the salesperson is really rude when I asked if she could give me better numbers, or closer to the one that I asked, which I like to have $530/m at the most with no down.

    Would anybody give me recommendations on any local San Diego or LA area dealerships that are willing to give a good deal on an 07 X3?
    Thank you so much. :confuse:
  • pjo1966pjo1966 Posts: 120
    It was Nick Alexander. Personally I've had nothing but bad experiences with them. I might give them another chance as they fired the last salesman I dealt with.
  • tony411latony411la Posts: 14
    Century West in Los Angeles, quoted me the following. Anyone, please let me know what you think.

    '07 X3 Metallic; Premium Package; 18" wheels; Xenon; Heated Seats; Privacy glass & Navigation.

    MSRP: $45750
    Sale Price: $43150
    $1777.13 drive off (includes first payment, reg, and acquistion fee of $825)
    Residual 78%
    MF: 0.0017
    Monthly: $481.78 including taxes

    He said I needed to come in today or I will lose the rate because they will change next month.

    Also, he's telling me his invoice price is 42,645 but according to consumer reports car buying site, it's closer to 39,925. When I questioned him on it he says consumer reports is wrong and so is edmunds.com

    I've tried to get him to come down on the sale price but he won't budge.

    This was all done over the phone but I plan on paying him a visit this evening about an hour before closing.
  • I am looking for the same car I have contacted them through Costco auto program and they offered me a price around $50 higher with $3,600 down. Can you email me if it is for 12k miles and 24 months? My email is xxgrzesx google com

    Thanks
  • I don't live in LA but in Ny and am negotiating same exact vehicle. I have one dealer down to $415 per mth $2000 upon inception that's without my trade which should be 23K for my 04 325. Your dealer sounds like an A$$ MSRp is 38.9K and 34.9K list. Since it was 7/31 he wanted to force you into a month end deal to just get a sale. I would pick 4 dealers and whoever has best price wins. I went from 395 to 290 on my 325 3 yrs ago.

    Good luck.
  • I was searching for additional info on leases as it will be my first leased car. I came upon another BMW forum. It has excellent information.
    Also I found out that you can lower the payment by putting multiple security deposits. Up to seven and each will lower the money factor by 0.0007, with total of 0.00049. The deposit is refunded at the end of a lease less any charges such as millage and wear and tear.

    The link is below:

    http://www.bimmerfest.com/forums/showthread.php?t=146090

    http://www.bimmerfest.com/forums/showthread.php?t=216031
  • Hey what dealer is it in NY? Also can you give me the details as to the SPECS of the car? I have a current X3 right now, it will have about 30,000 miles on it and goes back within a few weeks. The buy out price is $22,596 or something. It is a 2004 X3 2.5 with premium package and cold weather package. Please let me know if you think the buy out price is good or should it be negotiated more? Also let me know what I should expect for a new BMW X3 lease. Thanks all.
  • dhkhandhkhan Posts: 27
    Thank you xxgrzesx for the link to bimmerfest and lease space. This is really good information and adds to the excellent help I have got from the Car Space forums in my search for a good deal on an X3.

    By the way, have not seen any replies or postings from the Hosts (car_man and kyfdx for a while). Are they still monitoring this forum?
  • Sorry, I haven't been on for a while. This was for a 10K 24 month lease.
  • Can someone tell me if the lease rates changed for August?
  • I went to dealer on August 3rd and he quoted me same residual and MF as for July. I tried to get the same deal as you listed above and was told that I cannot get so low MF (0.0017) without security deposit. I know that you cannot post the name of salesperson who gave you that deal. Could you email it to me at xxgrzesx google com
  • The person I was dealing with is the "Internet Director". I believe the reason I got such a low MF is because I am a returning BMW Financial customer. At least that is what I've read on this forum. I believe the lowest MF for a returning customer is 0.0015.
  • minoteminote Posts: 13
    Hi all, please give me your opinion.
    I've been trying to get a complete and good quote from a dealership.
    This is the quote that I got:
    MSRP 42950
    Price 40595 ($1020 over invoice)
    36mo/15Kmil per year
    mthly 548.07
    residual value 65%, .00225 MF

    drive off $2,158 incl:
    548.07 1st pmt
    550 security deposit
    326 license fee
    8.75 CA tire fee
    45 doc fee
    625 bank acq fee
    51.56 bank acq fee tax
    3.71 doc fee tax

    Which fees I can bargain and how I can use the .00215MF?
    I'm looking to pay $520/mthly incl tax & $1300 drive off.
    Thanks for your time!
This discussion has been closed.