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BMW X3 Lease Questions

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  • Was able to negotiate the following lease deal today...any thoughts given the demand for the new model?

    MSRP: $44,325
    Sales Price: $42,926 plus $399 Delivery ($43,325)
    Invoice: $41,285

    2011 28i X3
    Metallic Paint - 550
    Premium Package - 3450
    Cold Weather Package - 1150
    Heads Up Display - 1300
    Satin Roof Rails - 250
    Destination - 875

    Money Factor: .00175 (returning BMWFS)
    Residual: 59%
    36 month/10k lease

    No money down or out of pockets. First payment due at signing. Monthly payment is $620.03 plus tax = $667.89 (Denver, CO).

    Any thoughts would be greatly appreciated!
  • Redbone - I am sure someone else here will answer
    your questions but I just wanted to let you know that I
    think that the money factor for non-loyal customers is
    .00205 - so unless I am missing something, they are
    marking that up! So check that out.

    Also, you mention msrp but what price did u negotiate?

    Good luck!
  • yippeee - while I am not getting as many options as you,
    I just negotiated the following deal in nj for a 2011 BMW
    X3 28i with panoramic sunroof and heated seats/wheel:

    MSRP - $39,665
    Invoice - $36,370
    Negotiated Price - $36,900 (so only $530 over invoice).
    It looks like you are paying $2000 over invoice so you
    may still have room to work.

    I am a loyalty customer so I qualify for money factor of
    .00175
    59% residual for 36 months - 10,000 miles
    with $1500 in fees/first month upfront - my monthly
    payment is $525.

    Good Luck!
  • jkgetzjkgetz Posts: 1
    My wife and I just ordered a new X3 28i, but after reading these posts, I think we got taken for a ride. Our rep told us that because the model is freshly redesigned, there weren't really any deals, but that's not what it sounds like... We got the following:

    MSRP: $36,750

    Metallic Paint: $550
    Convenience Pkg: $1850
    Sport Activity Pkg: $1550
    Technology Pkg $3200
    premium Pkg: $3450
    Rear Seat Split: $200

    Dest & Handling: $875

    Total MSRP: $48425
    Taxes: $3039
    Other Fees: $1200

    Miles/Yr: 10000
    Residual: 60%
    Money Value: we don't recall

    $1500 down = $868/month pmt

    Sounds like we should be able to get this price down considerably. Any thoughts. If they won't renegotiate this price down a little, I think we'll just cancel the order and go someplace else. I'm a repeat customer at this dealership, so I'm hoping they'll come off this price to something that's more reasonable.
  • pucellepucelle Posts: 2
    edited January 2011
    I was able to get the following deal:

    BMW X3 xDrive28i
    Metalic Color
    Cold Weather Package
    Convenience Package
    Premium Package
    Technology Package
    Premium Sound System
    Satin Aluminum Roof Rails
    Smart Phone Integration

    MSRP: $49,100
    Invoice: $45,625
    Price: $47,000 w/Tags, Registration, & Documentation Fee included

    The only thing the price doesn't include is Taxes. I plan to lease and already have a BMW FS lease, I won't have to pay the disposition fee. I was thinking of leasing for 2 years as I'm not sure I'll like the X3 and the new 3 Series (my current lease) comes out later this year.

    I currently have a manual transmission 2008 328xi and I realized about a year into the lease that I didn't like the car and HATED the dealership I purchased from. I have stuff and tend to cart it around so we'll see how much I like the X3 if I don't like it, I'll buy the new 3 series as it "should" have all the features I like in the X3.

    Does anyone know what the January lease factor is for 24 months with 10K miles/year? Does the loyalty reduction count for that time period? I'll most likely do the paperwork in February but I just wanted to get an idea on numbers.
  • m00sm00s Posts: 1
    Anyone know if the preferred money factor is nullified if a previous BMWFS loan was discharged as part of a bankruptcy (within the last 7 years) ?
  • kyfdxkyfdx Posts: 27,905
    The preferred rate is for current BMWFS customers... or, at least those who have been customers within the last six months...

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Are you able to disclose the dealership you got your deal from?
  • joeyp17joeyp17 Posts: 1
    edited January 2011
    I have a couple questions about a X3 lease that I am considering.

    1. I used Edmunds to determine the invoice price of the vehicle that I would like to lease. The BMW dealer tells me that the Edmunds' invoice price does not reflect about $400 in fees that the dealership must pay to BMW. Accordingly, the dealer says that my offer of $600 over Edmunds invoice would really mean $200 over "true" invoice. The dealer is willing to use $600 over his "true" invoice as the cap cost for the lease.

    My question is whether these fees are appropriately counted as part of the invoice price to the dealer or if they reflect an attempt to pass along costs to the consumer or are an effort to double-dip with holdbacks. I would like to be able to call the dealer's bluff, if he is in fact bluffing.

    2. I have roughly the following deal currently. I would appreciate any opinions on whether this is a good, bad, or average deal. Thanks.

    X3 that includes Rear-View Camera, Comfort Access Keyless Entry, Heated Front Seats, Panoramic Moonroof, Black Sapphire Metallic, Nevada Leather Upholstery, and Destination Fee:

    $42,375 MSRP

    $39,410 invoice (includes $400 dealer fees discussed above)

    40,010 sale price (same)

    $1,825 up-front, including first month's payment, acquisition fee, and all document and related fees (I think this is high by a few hundred dollars)

    10% sales tax

    .00205 money factor

    59% residual (10K for 36 months)

    Monthly payment is ~ $600 (I am shooting for $590)

    Thanks.
  • kyfdxkyfdx Posts: 27,905
    1) The dealer is correct... MACO (advertising) and a $180 training fee aren't on the Edmunds invoice.. I'm not going to tell you what a good price is, but even if it's the lower number, $400 more isn't going to make it a bad price..

    2) If you aren't a current BMWFS customer, then that's the base money factor.. which is a good thing... Does $600/mo. include the 10% tax? If so, that looks like a pretty good deal...

    You can't really do anything about the lease program.. it is what it is.. All you can do is control your purchase price (looks fair), MF markups (none), and ancillary fees (as you note, maybe a few hundred extra)..

    If you really like the deal, tell the dealer he needs to take $400 out of the deal, and you are ready to commit... can't hurt to try.. you can always take it, any way...

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Hi bluebox77. While I don't know the exact dealer invoice price is for the truck that you are considering, the selling price that you mentioned appears as though it is fairly close to invoice. This is a good deal. The .00195 money factor that you mentioned is right in line with BMW Financial Services' current buy rate for this car (7 additional deposits would reduce it by .00049. The two main profit centers for dealers, your truck's selling price and its money factor, look good to me. If you like this X3, I personally don't see any reason not to pull the trigger on this deal.

    Car_man
    Host
    Prices Paid Forum
  • leoxardleoxard Posts: 5
    edited February 2011
    Hi carman,

    I am negotiating a lease for 36mo / 10k of an X3 xDrive 28i with all 6 packages + Premium HiFi and metallic paint.

    MSRP $50,243
    Invoice $45,945 (edmunds)

    I see from the Forum that the rate should be 0.00175 (loyalty rate) with a 59% residual for February.
    What should i be shooting for as far as final sale price of the vehicle? How much over invoice?
    Also, in March, do the rates improve or not typically?
    Thanks for all you help!
    Leoxard
  • Hi Leoxard. It's difficult to say what the X3's March programs will be like at this point. I can tell you that last year BMW's March program for this model was very similar to its February program.

    If I was in the market for an X3 right now in an area that has a decent level of competition, I personally would shoot for a selling price of around $500 to $1,000 over dealer invoice and see what happens.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Sorry - I am just seeing this. The dealership is Freehold
    BMW in Freehold, NJ. Salesman - John McBride.

    Hope this helps!
  • Thanks Carman.
    There is good competition here so I should be able to get a good selling price.
    At this point I won't wait for March to secure the car since the rates won't vary by much.
    Keep you posted on what deal I was able to make as soon as its done.
    By the way, the information found in this forum was priceless. Thank you for educating and helping the buyers community as you do.
    Leoxard
  • Carman,
    I was quoted $42,735 pp, and $39,800 (although his worksheet says $39,864.59 from a NJ dealer). CWP, PP and Comfort Access....which at invoice is $39,325. I am going to lease 36mth at .00175 mf and 58% residual, $369 for doc fee....so I checked this out on leaseguide and their residual is diff. So, I don't know which is correct. Could you please tell me what they are? Upfront fees I will pay NY taxes and roll over plates,any other fees I should pay upfront out of pocket instead of financing them?
    Please help.
    :confuse:
  • Hi,
    I negotiated the price of a 2011 BMW X3 with the options I wanted for 37,500. Today I asked for the break down of figures for a lease. The money factor given to me was .00205. That seems a bit high to me. Can I negotiate the money factor? What would be a reasonable money factor?
    Thanks
  • For information purposes.

    Pulled the trigger on a 3 yr, 36,000 mi X3 lease today in the Chicagoland area:

    XDrive281 –

    Base MSRP - $36, 750

    Metallic Paint

    Convenience Package

    Premium Package

    Heated Front Seats

    Heated Steering Wheel

    Satellite Radio

    Carpet Mats

    Destination & Handling

    Total MSRP as built – $44,515

    Edmunds Invoice – $40,960

    Sales price – $42, 715

    Residual – 58%

    MF - .00245 (I’m a new customer)

    $2500 out of pocket (cap cost reduction)

    Payment - $660 includes all fees, taxes, title & license

    Ordered today, delivered in 4 weeks…….maybe a bit much but I’m happy.
  • rj9rj9 Posts: 1
    I just signed for a 36 month 10,000 mile a year lease this is the deal any info on if its a good deal would be great this is in the NY area:

    35i

    premium package
    sport utility package
    heated front seats
    heated steering wheel
    Metallic paint

    $0 money out of pocket just first month and dmv fees.

    MF: .00175
    MSRP: $47,865
    Neg price: $44,550 $500 above invoice
    Residual: 56% + 3 for 10,000 mile lease
    Total per month including taxes $680
  • You're very welcome, leoxard. I'm glad that you've found this forum so helpful. I'm looking forward to hearing how everything turns out.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hello voldermort. The money factor and selling price that you were quoted for this X3 look good. The 58% residual value that you were quoted is correct for a 36 month, 12,000 mile per year lease of this vehicle.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi bellatrix1. BMW Financial Services' buy rate (lowest possible) money factors on the 2011 X3 are .00205 for non-loyal and .00175 for loyal BMW customers. If you do not currently have a BMW, the factor that you were quoted is correct.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thank you Car_man, I was at the dealers, and he told me that the MF and Residual's will be better in March.....don't know if it would be that much of a difference, but I guess I'll wait to see.

    Wld you know if that is true, or if that happens every year with BMWF?
  • leoxardleoxard Posts: 5
    edited February 2011
    Good news Car_man!

    I was able to negotiate the following:

    MSRP - $51,650 (includ. all packages, Premium HiFi and metallic paint)
    $500 over invoice
    Drive Off: 1st month, $870 (bank fee + doc fees) + DMV Fees
    36mo/10k
    MF 0.00175 (loyalty program)
    59% Residual

    Thanks again!
  • Xenon package
    Panoramic Moonroof

    $0 Down Payment
    Loyal Customer
    MSRP Quoted: $40,205

    $610 w/tax per month

    Is this a good deal?
  • skeets7skeets7 Posts: 5
    Went to Palm Springs to trade in my '08 335i with 16k miles and 2 years left on warranty/maintenance. Wanted to lease a new X3. Offered less on my 335i than every other dealer that I visited (three others. Also told that they would not budge much, if at all, on MSRP. And get this, I was told I did not qualify for BMW Owner Loyalty Rate because my original BMW loan was sold to Bank of America. To qualify for rate, you must have a current loan with BMW Financial Services. I did, but BMW sold it to BofA!!!! I walked out of the dealership quite upset and disheartened. So I decided to test drive Acura and Mercedes. Nice vehicles, but just something not right for me. Ended up passing a Volvo dealer, never even thought of one. Drove the XC60, loved it and leased it (really comfortable). The Volvo people seemed like they wanted my business, they needed my business, and they worked hard for my business. I really wanted the X3, but this was a very close second. Five years free maintenance is now free and standard with Volvo. I hope someone at BMW reads this because they absolutely lost an enthusiastic customer; and a customer that will tell his story.
  • techlvrtechlvr Posts: 2
    My '08 X3 lease is ending soon, and I will be leasing a new X3.

    The following configuration has a MSRP of $41,575 and an invoice of $38,280 (edmunds).

    2011 X3 xDrive28i

    Alpine White
    Premium Package with Nevada Chestnut Leather
    Comfort Access keyless entry
    Destination & Handling: $875

    What monthly payment should I try to get? Also, I never put more than 5,000 miles per year on my car (my current '08 X3 has 13,000), so do you think this could help me negotiate a lower lease payment?

    Thanks!
  • rdxerrdxer Posts: 33
    Don't turn in your car. If one is nearby, sell it to CarMax. Like you, we drive very little each year. We always sell our leased vehicles to CarMax and always walk away with $1k-3K each time. They love lo-miles cars in great shape.
  • techlvrtechlvr Posts: 2
    Unfortunately I'm in Illinois where you have to pay sales tax when you lease a car and again if you decide to buy it, so I would have to pay almost $2,000 sales tax if I were to buy the car and sell it to CarMax.
  • kyfdxkyfdx Posts: 27,905
    You don't have to buy it first... CarMax is a dealer.. if you go before the lease expiration, they can buy the car directly from BMWFS.... giving you any excess amount over your lease payoff, just as if it were a car loan.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

This discussion has been closed.