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BMW X3 Lease Questions

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  • I am about to return my 2006 X3 ( white+leather+heated seats)
    I believe my residual value is about 27,000.
    Do you think I have a chance to buy it back for 23,500 - 24,000?
    Who should i negotiate with? BNW FS? dealer?
    I would appreciate your advice.

    michael
  • billmvbillmv Posts: 145
    You need to call BWMFS, not the dealer. Just ask what them what they'll sell it to you for. Tell them you need their very best deal, as you will be making your return/buy decision based on that number. Theoretically they do not want to have a vehicle on their hands that they have to sell. They'll either look at it as turning it into a CPO or getting rid of it at auction. CPO means cost to them.

    Let everybody know how that discussion turns out.
  • Hi, does anyone know if there are any dealer incentives on this truck, any cash back like the X5?
  • I have a deal with BMW Manhattan dealer to purchase back my X3
    after the lease.

    2006 X3 30,000 Miles White leather + heated seats
    Residual 25,700

    BMW will convert it into CPO and sell it back to me for $22,000

    I need to return the car after the lease - can't wait for new X3 or Q5 or Volvo ( was thinking about GLK though... ) - there is not much else on the market I would be interested in and current lease terms are not that good.

    Good deal?

    Michael
  • Spoke too soon...

    The final deal is $23,500 with 0.9 financing.

    Still not bad I think but much worse than 22K ( Dealer said that made a mistake with previous quote)
    Michael
  • isn't that high given that residuals for 09 X3 are at 41 percent...You should try to negotiate down to 20K or leave it. i plan to try that with my X3 07 lease which is up soon.
  • kyfdxkyfdx Posts: 27,708
    I think that's a great deal for $23,500 with the CPO.. especially with only 30K miles...

    $23.5K with 0.9% is better than $22K without it.. assuming 60 months and 4.9% normal rate.

    For 36 months, it's about even ..

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • nyccarguynyccarguy Stamford, CTPosts: 7,420
    While we've got a little while to go until the lease on my wife's '07 X3 is up (July 2010), the subject of buying vs. leasing comes up every so often.

    She doesn't like leasing. She thinks it is ridiculous to be paying money every month to a car that you don't own. She doesn't feel like the car is "hers." She would rather us buy a car by taking out a 5 year loan, pay it off in 4 years, drive the car free and clear for a few years after that. Then the maintenance and reapir costs would outweigh the cost of a new vehicle.

    I agree with her to a point. Cars are made so well these days that 100,000 miles plus isn't a problem for most cars. The thing I love about leasing is that at the end of the lease you just walk away from the car. At the end of our lease, BMWFS says out truck will be worth $27,000.

    I recently saw an ad in the paper for 2 CPO '07 X3s with 16K & 36K miles. The BMW dealer is asking $24K & $25K respectively. That means the dealer either took these 2 X3s in on a trade or bought them at an auction for $18 or $19K.

    Let's say we took out a loan on our X3 instead of leasing it. In 3 or 4 years time we decide we want to get rid of it (Don't get me wrong, WE LOVE IT) for whatever reason. We need a bigger vehicle, it starts to have some problems out of warranty, my wife decides she doesn't like driving a truck... We'd be so upside down on our trade. I know I could always try to sell it privately, but I had a lot of problems trying to sell my wife's former '00 Mazda Protege ES for $2,000. I can imagine the headaches of trying to sell a $30K car to a private party.

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

  • Hey dollar_pound. Unfortunately, I do not believe that BMW is providing any cash incentives on the 2009 X3 right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • nickr1nickr1 Posts: 51
    To put it in perspective, a similarly specked Land Rover LR2 with an almost identical price, $42,000 is $2,500 down and $660/month for 36 months. However, your feeling that the BMW rate of 618.81 is too high is correct in the sense that it can be lower if the dealer is motivated to lower it. He will tell you that it's the price that BMW sets but that's not true if he's motivated and willing to eat some of his own profit, which unfortunately, BMW dealers almost never do because they think they don't have to.

    Dealer to dealer deals can be a little different so check with at least two other dealers, and get an internet price, most dealers have an email guy that answers lease questions for internet only deals. It's a lot easier than driving in and haggling, internet deals are sometimes a little lower. Give them your exact spec but don't tell them you are shopping or already know what it is. Good luck.
  • mnovodvormnovodvor Posts: 14
    This info may help you if you are considering to purchase X3 after lease:
    I have purchased back my X3 2006 after the 3 year lease:
    2006 White X3 premium leather, privacy glass, heated front seats, otherwise standard
    29,000 miles
    Residual value $25,700
    Purchased at BMW Manhattan for 23,500 with 0.9% financing
    as a CPO (with extended warranty)
    At BMW Brooklyn I was quoted 29,000.
    Michael
  • anjoranjor Posts: 18
    Michael....does that purchase price include tax?
    I am about to purchase my 2005 X3 at lease end with CPO and 0.9% financing (that was the promotion last month that I secured). I was quoted a price and was told the CPO could run between $3,000-$5,000,. They are performing a 40 point inspection (for $150) and will let me know if it qualifies. Then, the dealer will tell me if I need new tires, etc and how much it will cost, so they can "adjust" the quote accordingly. I was under the impression that when they CPO the car, they sell it back to you in "like new" conditon. My dealer said that since it is my vehicle, it is a "lease to retail" and they don't fix anythng they don't have to. Just curious if you needed any work done on your X3 when they certified it and if they charged you. Also, what condition was it in when they sold it back it you? If they don't intend on "fixing" anything then, I would have liked to take the "Orignal owner extended warranty" since it covers more than a CPO, but I wouldn't get the 0.9%. Thanks for your input.
  • mnovodvormnovodvor Posts: 14
    Anjor,
    1) my price did not include tax. it did include CPO. With tax in NY full price was close to 25,000 and final per month payment of $435 for 60 month

    2) My car was in pretty good condition, not after-lease charges. They did not charge anything extra - 23,500 was all I paid ( plus inspection, registration, some other fees about $200) They did full detailing on the car and replaced some plastic inserts inside - like mirror controls on the door.

    Michael
  • acorvineacorvine Posts: 17
    Do you know of any lease specials on the 2009 X3. I don't want it loaded, just heated seats and leather. And do you think I should wait until the end of August when the 2010 start coming in??

    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi acorvine. You're in luck. For some reason, BMW decided to pull its lease support on the 2009 X3...but now it's back. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 X3 with 15,000 miles per year are .00250 and 53%, respectively.

    It is difficult to say what BMW's lease program will be like on the 2010 X3 when it is initially introduced at this point.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car_man,

    Need the MF and Residual on a '09 X3 for 10K miles both for 24 and 36 month lease. Also, can you confirm what loyalty cash/incentives that are available for current BMW FS customers?

    Thanks once again for your help on the '06 BMW Z4 we are turning in soon. The info you've provided over the years has saved us hundreds if not thousands of dollars!
  • lalakrsfanlalakrsfan Posts: 44
    Hi Car_man,

    Didn't see a reply to this request.Can you please provide the MF and Residual on a '09 X3 for 10K miles both for 24 and 36 month lease? Also, can you confirm what loyalty cash/incentives that are available for current BMW FS customers?

    Thanks,
    Tyler
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, Tyler. According to the latest information that I have seen, BMW Financial Services' current buy rate lease money factor and residual value for a 24 month lease of a 2009 BMW X3 with 10,000 miles per year are an unattractive .00280 and 49%, respectively. The numbers for an otherwise identical 36 month lease are an equally unattractive .00280 and 43%.

    BMW is currently providing $4,000 dealer cash on this truck.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • nyccarguynyccarguy Stamford, CTPosts: 7,420
    out sometimes...

    When we leased our 2007 X3 back in July of 2007, the residual value at the end of our lease is 65% after 3 years. 75% if we would have taken a 2 year lease.

    Things were much different back then.

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

  • Hello...I am trying to find out if BMW is still offering an early lease termination special for X3's for June 2009. My understanding was that in May BMW was offering to waive the final 3 months payments if you leased a new BMW (ie, a pull-ahead program).

    Any information would be appreciated.
This discussion has been closed.