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BMW X3 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi johnpatrick3. Yes, BMW is still running an early lease termination program on the X3 in June. In addition to that, if you are a current X3 lessee who gets a new X3 you are eligible for a special $1,500 loyalty cash incentive.

    Car_man
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  • biggdbiggd Posts: 4
    I have a 2007 X3 that comes off a 36 month lease next month. I just received my end of lease options from BMW Finance. My current monthly payment is $428/month, risidual buyout is approx $30,000.

    If I want to extend my lease for 1 year the monthly payments are $1149/month. If I want to buy the car my monthly payments for 60 months are $609/mo at 6.4% financing.

    Has anyone else experienced this from BMW?. It is not exactly a "customer retention" program.

    I like the X3 and would like something similar at around the same monthly lease payment.

    Does anyone have any suggestions?
  • pp2009pppp2009pp Posts: 228
    I have no idea why you want to buy the car in the first place - see my experience - but all remaining new 2009's are supposed to have a 0.99% financing option. Car sales are again falling off a cliff at least for some manufacturer's so buyers are again in charge.

    What the heck was on your car that you would have such a high residual after 3 years of payments?

    I have never leased anything - buy outright - so I am wondering why your used car would be worth $1200 - the price of a moderately sized mortgage. I would say to forget the blooming car, get a new one at a better price from a better manufacturer and put the remainder toward a mortgage on an asset that has a decent price of appreciating.

    Just my two cents.
  • biggdbiggd Posts: 4
    The risidual was set by BMW Finance at the time of the promotion in order to keep the payments low and push the cars out the doors
  • pp2009pppp2009pp Posts: 228
    So does that mean that if you buy the car outright you will be paying now for the promo that you received up front?

    The difference in 60 months between your 'used' car rate and the 'new' car rate is about $75/month. The same monthly payment buys you a $34,000 new car...if you financed the entire thing. Check the math though using a loan calculator. I'm just plugging in the numbers you have plus you have to add in the full warranty of the new car...not entirely sure what that is worth but it is worth something especially on cars with average reliability.

    http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx

    I would take a look at other cars and deals out there.

    My two cents.
  • kyfdxkyfdx Posts: 27,671
    1) You won't be able to extend the lease at any reasonable price, so just can that option..

    2) Contact BMWFS... Tell them you might be interested in purchasing your car, but nowhere near that inflated residual... ask them to give you a realistic price, and you might consider it... Sometimes, they'll drop the residual... sometimes not..

    3) If 2) doesn't work.... contact your dealer, and tell them the same thing.. You might be interested in purchasing your car, but not at that price... Can you save me a substantial amount? BMWFS will sell the car to the dealer for the MMR (auction) price. They'll mark it up to make a profit (the key is:how much), but you should be able to get it cheaper..

    4) If all else fails, do not buy the car for the residual... You got a great lease deal because of that unrealistic residual.. If you buy the car for that amount, you give your great deal back to BMWFS...

    Good luck!
    kyfdx
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  • pp2009pppp2009pp Posts: 228
    What about a used :lemon: :lemon: :lemon: :lemon: instead?

    I would, of course, say RUN far, far away but what about a used one instead? This idiotic car is at the end of its run anyway and they will start manufacturing them in NC instead of in an Austrian OEM plant.

    Drive a cheapo used one for a few years and see what comes up next. I don't know if this is a good bet but will they actually bother to fix the ride and the transmission problems? Maybe they will revert back to the 5 speed transmission or, heck, maybe not.

    At any rate, why take the risk?
  • donjadonja Posts: 2
    I'm coming in at the end of December on my 3yr 2007 X3 lease. Sport pkg, premium pkg, cold weather pkg; no navigation. My cap cost reduction pmt was $2974, monthly pmts made total $22248, contract residual value is $30799. I've been happy with the vehicle and would like to purchase it. I've seen some blogs where people have claimed to get as much as $9000 off the residual from BMWFS.
    Anyone else have experience with BMW reducing the residual amount to entice a lease-end purchase?
  • Anyone know the lease money factor and residual values for the 2010 X3? Need 10,000, 12,000 and 15,000 mile values.
  • tmasjrtmasjr Posts: 30
    I am also interested, '10 X3 10,000 miles, 39, 36 or 24 lease specials? Please advise on the money factor and residuals. Thanks.
  • Hi poorboytoo. Sorry for the delay in my response. I took some time off for the holidays. Here's the new January numbers for the vehicle that you're interested in.

    BMW Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2010 BMX X3 with 15,000 miles per year are .00250 and 57%, respectively.

    This truck's 12,000 mile per year residual value is 2% higher. Its 10,000 mile per year residual is 3% higher.

    Car_man
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  • Hi tmasjr. I don't believe that BMW is currently offering 39 month leases on the X3.

    Please see my previous post for the 36-month data that you're interested in.

    BMW FS' money factor for 24-month leases is the same, but its 24-month, 10,000 mile per year residual value for the 2010 X3 is 66%.

    Car_man
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  • hugo5hugo5 Posts: 68
    edited May 2010
    Hi guys,

    It's been three years and now my lease is coming to an end. I have been paying $420/month on a 36 month/10000 lease. I called BMW, dealer and financial services to see what my options were. I told them that I would like to go lower on payments, couldn't effort to put any money down, but would be interested in extending the lease, buying this car, getting a pre owned or changing into another model, and they totally blew me off. To buy this car, which , with 18 000 on it, now has a value of 27 000 plus tax on a 60 month plan would cost me over 600 month, the 2011 x3 would come to over 600 month on the same kind of lease that I had before, didn't even ask if I had to put money down for that, and for under $420, she couldn't even put me into a regular 3 series. She told me that I could possible extend my lease for 18 month at the same rate, which I thought was weird. Why would I wanna pay the same monthly rate on a 3 year old car, as I was paying for it when it was new, and she told me that I wasn't being charged any tax right now. I am confused. I have been driving BMW's for the last 12 years, and just felt that she blew me off. Is BMW doing that well that they don't even try to work with you or try to find something that would work with my budget, as the lease end letter promises. I told her I was willing to go with a used car...I'd like to stay with a german car, and possible with the same kind of size car, to fit kids and toys, and their bikes and scooters in, any suggestions? Best case scenario: no money down, $300/month...I know this is all over the place, and possible not even in the right category...just really frazzeled right now.
    Thanks,
    Hugo
  • kyfdxkyfdx Posts: 27,671
    German... for $300/mo.? The only thing that comes to mind is a Golf or a Jetta...

    They aren't BMWs, but are pretty nice cars..

    As far as why you would re-lease for $420/mo.? Because the payments on a new one are $600++. Might not be a great deal, but if you want to stay in the same type/make/model of vehicle, it's really your only choice.. You can't really lease any new BMW for under $500/mo., without some money upfront.

    X3 leases from '06 to '08 models were dirt cheap... extremely low in comparison to their MSRPs... Those deals are hard to come by..

    regards,
    kyfdx

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  • jayriderjayrider Posts: 3,251
    The passat might be possible for under $500 zero down. There are also some deals on Audi 4's with few options other than heated seats. Check out the Tiguan as well.
  • hugo5hugo5 Posts: 68
    I guess I am gonna have to give up on the BMW experience. The lowest I got so far is same price around $420/month with $2700 down including 8.875 tax for a 328i
    I don't have the down pay and I can't swing the $420/month anymore.. I checked VW's incl Tiguan, Passat and Jetta and it seems that without money down, teh only thing close is a real basic Jetta...Aren't we in a recession? Here is what I got offered for Passat and Tiguan:

    2.) Passat, automatic transmission, Komfort model.
    370/month with 2,600 up front

    3.) Tiguan, front wheel drive and auto transmission, Wolfsburg model.
    359/month with 2,400 up front.

    If I role the upfront into the monthy, which is what I did on the X3, I am looking at the same payment as my X3 for a much lesser car in both cases?

    Is the Jetta a decent car for the buck? any other suggestion on cars I should look into? Should I consider buying used and any chance I can find something BMW used with no money down for $300/month?
  • njwillnjwill Posts: 1
    My wife is planning on leasing a new 2010 X3. I was hoping someone would be able to provide the current money factor and residual % for a 36 month 10,000 miles per year lease.

    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Anyone who is familiar with BMW Financial Services knows that since the beginning of time it has used a pass / fail system for its lease approval process. Either consumers qualified for its best available rates or they could not lease through BMW FS at all...and your credit had to be pretty messed up for the latter to happen.

    Yesterday BMW announced that BMW FS is introducing a tiered system for its lease program. Its rates now vary by credit tier, with the people who have the best credit scores getting slightly better rates than what was available last month and much higher money factors for people with low credit scores.

    I should be able to get the full details of this new program some time today. Please feel free to post your questions about it here and I'll gladly fill you in on what I am able to find out.

    Car_man
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  • Are there any lease specials currently being offered on the X3?
  • Carman,

    Can you tell me what the money factor and residual value would be for a 2010 X3 with the Premium Package on a 36 month 12,000 miles per year lease? Thanks.
This discussion has been closed.