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BMW X3 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi redbone55. BMW is providing lease support on the 2010 X3, but I wouldn't exactly say that its current program on it is amazing.

    BMW Financial Services' August buy rate lease money factor and residual value for a 36 month lease of a 2010 X3 with 15,000 miles per year are .00150 and 57%, respectively for consumers who qualify for its top credit tiers.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    I'd be happy to help you out, sdhlaw1701.

    BMW Financial Services' August buy rate lease money factor and residual value for a 36 month lease of a 2010 X3 with 12,000 miles per year are .00150 and 59%, respectively for consumers who qualify for its top credit tiers.

    Car_man
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  • Does anyone know what proportion of BMWs are leased versus purchased?

    It seems as if most of the new ones are leased and then someone else purchases the lease returns. Just a wild guess from the chatter.
  • Interesting question pp2009pp. The percentage of BMWs that are leased varies from model to model and from month to month. On many BMW models practically half of them are leased.

    Car_man
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  • Carman,

    Can you tell me what the money factor and residual is on the 2010 X3 ---36 month with 15,000 miles/year?

    Thank you,
    sgaister
  • I'd be happy to help you out, sgaister.

    BMW Financial Services' October buy rate lease money factor and residual value for a 36 month lease of a 2010 X3 with 15,000 miles per year are .00230 and 46%, respectively for consumers who qualify for its top credit tiers.

    As you can see, BMW is not really providing any lease support on this truck right now, but it is providing $4,000 dealer cash on it. Make sure to take this cash into account during your negotiations.

    Car_man
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  • I'd wait on the re-designed 2011 version that'll cost 2k less than the 2010 and offer a better residual.
    Nothing like the Q5 to offer competition and reveal how over-priced the X3 has been all these years.
  • That's excellent advice, lmariorod. The current generation X3 has been sort of dead in the water for a while now.

    Car_man
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  • Hi there... I got a lease quote from my local dealer - and here is what they quoted me:

    Car built:

    2011 BMW X3 with Metallic paint
    -Cargo Net
    -Heated Steering Wheel
    -Heated Front Seats
    -Navigation
    -Panoramic Roof
    -Power Tailgate
    -Smartphone integration
    -Xenon Headlights

    36 months
    $2542.39 due at signing ($750 is a security deposit which will be returned)
    10,000 miles per year
    $738.44 with tax included...payment

    FYI tax is 10% where I live...

    Is this a bad deal? It seems somewhat high considering you can get an X5 for maybe $120 more a month and that is a whole heck of a lot more car... figured it was a bit high - more so since my quotes on the X5 were not much higher & taking into account the lower base price... based on my calculations - I am looking at paying roughly 54.8% of the truck - meaning the residual value is in the toilet... I think the salesman either needs to tell his finance group to sharpen their pencils... or check out another dealer... I am in no rush to get into a vehicle, yet, but am trying to get a ball park... I am waiting on a response to what residual value it is that BMW is using since it was just released to the dealers.

    Any opinions/advice/etc.. would be appreciated!
  • nyccarguynyccarguy Stamford, CTPosts: 7,127
    If you're looking to get into a brand spankin new 2011 BMW X3, leasing is not the way to go. The 54.8% residual value is probably about right since the vehicle is brand new (has it even hit the showrooms yet?) and the residual value in 3 years cannot be predicted. Furthermore, being that the X3 isn't out yet (or is just hitting dealer lots) means that BMW doesn't have to boost the residual value (like when I leased my wife's X3 in '07 - 65%) or offer a dirt cheap money factor.

    Even the X5 which has been out for a while (same body style since '07 MY) has never had lease rates that have blown my socks off.

    I think if you are looking for a BMW truck right now, the way to go is an X5. The MSRP will be more compared to the X3, but you can negotiate a "skinny" $1000 over invoice deal + get crazy cheap financing (I think BMWFS is offering 1.9% for 60 months). If you only do the 10,000 (less than 200 miles per week? Who does that?) miles per year, then in 3 years you'll have a 2011 X5 in great condition, still under factory warranty, that you'll be able to sell for more than you owe the bank.

    Obviously either way you go isn't cheap. If you really want the new X3, then you should wait. Otherwise you'll be paying a premium to lease the first one on the block.

    Good luck & keep us informed!

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

  • Can anyone tell me whether a 15000/36month Lease for a base model 2011 X3 for $560.00 month with $2,500 out of pocket is a good/bad deal?
  • Hi chris1361. It's much easier to evaluate this deal if we know what this truck's MSRP and selling price are. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without these numbers it is much more difficult to tell how large a dealer discount you are being given and in turn if there is any room left to negotiate. Let us know what they are and I'm sure that either myself or another knowledgeable community member will gladly tell you what they think.

    Car_man
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  • Just wondering if BMWFS has issued the lease factors for the 2011 X3 yet? I cannot find it posted anywhere with the other November lease factors.
  • You probably won't... can't get an X3 in November, can you?

    Moderator - Prices Paid, Lease Questions, SUVs

  • Actually you can order now and the BMW website has the X3 models listed with their current lease specials. I just cannot figure out from the details what the lease factor is. I will ask my dealer and post what they tell me.
  • Well.. you are correct... if they have a proposed lease, then someone has to know the residuals and money factors... From the ad on the website, you can extrapolate the residual..

    On the X3 2.8 model, the 3yr/45K residual is 56%... I'd guess that they are using the standard BMWFS lease money factor, right now... which should be somewhere around .0023 (but, that's just a guess on the money factor).

    You can't extrapolate all the numbers, because the ad doesn't reveal the selling price (or CAP cost) that they are using.. ("may require dealer contribution").

    regards,
    kyfdx

    Moderator - Prices Paid, Lease Questions, SUVs

  • Does anyone have any idea what credit scores BMWFS looks for to determine lease MF rates? Do they take into consideration income or is it strictly credit? It sounds like they previously had pass/fail, but have recently changed it to a tiered system. Do you know what the score was for the pass/fail system. Thanks.
  • You are correct, both models are 56 percent, and both the same on the MF. My dealer was not showing a holiday credit but I am just noticing that there may be one, too, which makes it a pretty good lease. I have bought several BMW's there and they quoted $700 over invoice on an order, production begins in January but because it is built in SC he says the vehicle will arrive 2 weeks after start of production.

    There was an auto show in Phoenix last weekend but the dealer had the X3 in the showroom.
  • The brochure that I just got in the mail says the X3 doesn't qualify for Holiday Cash... :(

    Moderator - Prices Paid, Lease Questions, SUVs

  • Just got the same brochure. One of the dealer websites clearly, but mistakenly, said it applies to "selected 2011 X3 Models." I spent an hour trying to track it down but decided it was just a mistake. Thanks for the follow up.

    I've read and seen such good things about the new X3 that we are going to order one to replace my wife's SRX, which she liked much better that her earlier X3. Even though there are really good rates on the Mercedes ML 350 (She's "always wanted a mercedes"), everything in invetory has $6,000 to $8,000 of options, and the dealers don't seem to want to order or to pass though rates without marking them up, so that vehicle ends up costing much more. They also imply that they can't hold current lease rates if you order. The X3 looks and drives better anyway.
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