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BMW X3 Lease Questions

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Comments

  • Thank you. Where can I find a benchmark for the money factor?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Here you go, afinner. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 X3 with 12,000 miles per year are .00240 and 64%, respectively. The money factor for an otherwise identical 36 month lease with 10,000 miles per year is the same, but its residual value is 65%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi justwntd2know. The following Edmunds.com article shows how monthly payments for leased vehicles are calculated: Calculate Your Own Lease Payment.

    The two most important numbers to focus on when negotiating a lease are your vehicle's selling price and its money factor. These are the two main profit centers for dealers. Shop around and negotiate the lowest possible selling price on the X3 that you want. I would not be surprised if you were able to negotiate a price that's fairly close to dealer invoice in the ultra-competitive Southern California market.

    Once you have a price that you are comfortable with, have the dealer calculate your truck's monthly payment using BMW FS' buy rate lease money factor of .00240 (with the payment of a security deposit at lease signing).

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey justwntd2know. BMW FS' buy rate lease money factor for the '08 X3 is currently .00240 for first time customers who pay a security deposit at lease signing. BMW will waive its security deposit requirement in exchange for a .00015 money factor increase.

    Car_man
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  • lfm3lfm3 Posts: 3
    I'm looking for the BMWFS MF and residual on a 24 month 10,000 mile/yr X3 lease. Has the MF been reduced from .00250 in May to .00240 in June on the 24 month term as well?
    Has the Owner Loyalty Program MF reduction of .00090 in May also changed for June?
    Have they added an option credit or other dealer cash to the X3 for June?
    I'm in San Francisco - any regional credits/incentives etc?
    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi lfm3. BMW Financial Services' June buy rate lease money factor and residual value for a 24 month lease of a 2008 BMW X3 with 10,000 miles per year are .00240 and 75%, respectively. I believe that the owner loyalty money factor reduction is still .00090 on this model. BMW is still not providing any option credits on the X3.

    Car_man
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  • suznsaxsuznsax Posts: 9
    Hi Car_man
    Do you happen to know what BMW FS July money factors and residual value for a 36 month lease of a 2008 BMW X3 with 10,000 is? Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Here's the information that you're looking for, suznsax. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 BMW X3 with 10,000 miles per year are .00200 and 62%, respectively.

    Car_man
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  • mlassitmlassit Posts: 5
    I'm trying to make end-of-lease (3 yr/12K mi) decision on my BMW X-3. X-3 I'm returning in excellent condition and only 33k mi so 3k below. Offer from local BMW dealer is below. Is this good or bad or somewhere in between?

    MSRP$ 43,000
    Floor mats $145
    Discount -$1850
    Sales price $41,295
    Trade allowance $19500
    Difference $21795
    Tax $1292
    Tag/title $59.50
    Processing fee $399
    Total $235454.73
    Trade payoff $19480
    Balance Forward $43025.73

    Cash down $2683
    36 mos payment $532
  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,951
    If you are returning your leased BMW, why is there a trade involved, at all?

    Is it a lease, or a balloon payment? Are you in Illinois or Texas?

    regards,
    kyfdx

    Moderator - Prices Paid, Lease Questions, SUVs

  • mlassitmlassit Posts: 5
    Virginia

    Lease -- No clue why the trade. It was their creative way of getting payments close to current lease payment.
  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,951
    Yeah.. I'm not sure how it helps, if the trade allowance is shown as the same as the payoff... I thought maybe it was a tax issue... but, isn't tax in VA, 3% on the selling price? So, it doesn't look like that saved you anything there, either..

    That payment looks pretty close to others that I've seen.. Assuming 3yr/36K like the old one?

    Most people in the know at BMW expect the lease deals to get worse next month, so there is some urgency... There are also special money factors for returning customers this month..

    Without the specifics on what MF they are using, it's hard to tell how good your deal is... It certainly isn't terrible..

    regards,
    kyfdx

    Moderator - Prices Paid, Lease Questions, SUVs

  • billmvbillmv Posts: 142
    kyfdx......Any idea what the "special money factors" are for returning customers in July? I've got an X5 lease that's up in early October, but would like to get an X3 next. I had planned on waiting a month or so to sort things out, but it sounds like maybe I should try to do it July 31 if things are about to hit the fan in the leasing world.

    What else do you hear about BMW's attitude toward leasing? I read in the paper today that Chase will no longer provide lease financing for Chrysler, and that does not bode well for the world of leasing in general.

    Any inside info might be VERY timely for many of us. Thanks!
  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,951
    I'm pretty sure that the OLP MF on the X3 is .0016 for July... Not great, but not bad.. Plus, the X3 is the last BMW model that still has an unrealistically high residual (64% for 3yr/36mo.?)

    I wouldn't worry about leasing issues at BMW... We are seeing a correction to those residuals, but BMWs still have great resale..

    Strangely enough, I just leased a Subaru this week.. and the financing was through Chase...

    Also.. none of this is "inside info".. I just read a lot.. :)

    regards,
    kyfdx
    Host-Prices Paid Forums

    Moderator - Prices Paid, Lease Questions, SUVs

  • Hoping to lease a 2008 X3; Does anyone know what the money factors and residuals are on 36 and 24 months from BMW financial this month?

    I received the following deal from one dealer.

    New 2008 X3, White/Black, Premium, Cold Weather, Heated steering Wheel,
    Navigation, and Privacy Glass. MSRP is 45525. Sell price $43600. The 36
    month lease with 20000 miles per year is $635, taxes included, $2500
    required at signing.

    I know NJ has a 7% sales tax, not sure what the 2500 goes towards; but does this seem like an OK deal?

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Here you go, sshherman. BMW Financial Services' current buy rate lease money factor and residual value for a 24 month lease of a 2008 X3 with 15,000 miles per year are .00200 and 72%, respectively. The money factor would be the same for an otherwise identical 36 month lease, but the residual value would be 62%. Keep in mind that BMW is providing a .00040 money factor reduction on this model for current lessees.

    I am not personally all that familiar with what the market is like for the 7-Series right now, but you may be able to get an idea of the selling price that you were quoted is attractive or not by hopping on over to the "BMW 7-Series Prices Paid and Buying Experience" discussion.

    Car_man
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  • abm2abm2 Posts: 4
    Just leased 08 new X3, base model from Braman in Miami. Wasn't even looking at this vehicle but saw an ad and went to see if it was a bait. It wasn't. MSRP 39125, 24 MONTHS, 10000 per year, 359+tax. At signing only first month and taxes, total 723.
    I usually go thru the whole inquiry process of cap cost, mfactor etc, but it was clear that this was a great price. You need the owner incentive. The residual was 75% and I can't positively quote the Mfactor, but I think the incentive was for .0004 (.96% interest rate). This was after returning an 05 volvo s60 and was looking at an S40, but was quoted best price for a base S40 at $385 per month. Not much of a chance anyone goes for that-maybe that is why no one was there on a Saturday while the BMW dealer was loaded with customers.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Congratulations on getting a great deal on your new X3, abm2. Thanks for taking the time to share the details with everyone. It sounds like you had a positive dealer experience as well. If you are interested in sharing more information about it with everyone, hop on over to the Dealer Ratings & Reviews section of Edmunds.com. Enjoy your new ride :shades: .

    Car_man
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  • Wow!!! That's the type of deal that I'm looking for!! Who did you speak with? I've been watching the papers for that same deal!
This discussion has been closed.