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2013 and earlier BMW X1 Lease Questions

kyfdxkyfdx Posts: 29,863
edited January 28 in BMW
Ask your BMW X1 lease questions here!

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  • I currently have a 2013 X1 xdrive 28 on order, completely loaded M-Sport, MSRP 47,220. It should arrive at the end of this month. Could you please tell me the current MF and Residual? Thx.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to tony411la. BMW Financial Services' August buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 xDrive28 with 15,000 miles per year are .00145 and 57%.

    Car_man
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  • Thanks Car_Man!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome tony411la.

    Car_man
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  • leeshuckleeshuck Posts: 73
    Car_man or kydfx:

    Could you provide current money factor and residuals for the X1 xDrive28i and xDrive35i, 36 and 48 months, 10k miles/year?

    I'm also wondering about going 4 years vs 3 since the maintenance is covered for up to 4 years/50k miles. Do the the rates for 48 months tend to be higher than shorter term?

    Thanks,

    Lee
  • awu0419awu0419 Posts: 8
    Hi Car_man,

    I was wondering how you obtain the MF and residual value .......

    Is it possible to receive a better rate from BMW than the 0.00145 (APR=3.48%) MF that is being calculated with the credit score above 780 - 800 range?

    Which one would be a better pick? Lease vs. Buy? I am getting ready to order a X1 and just wonder what is the best to go with lease or buy.....

    Thank you for your time.
  • Hey guys,

    I plan on ordering an X1 sdrive28i with the Ultimate Package. The MSRP is $38,195 and I've been quoted a selling price of $35,525 including the destination which I believe is fairly close to invoice?

    This is for a lease, I've received a quote for 10k miles, 60% residual and 0.00145 money factor.

    The question I have is, they've added in License & Registration, Bank Fee ($725), Doc Fee ($85) after the MSRP. Is this typical, to make the MSRP look more attractive? Should I negotiate a lower MSRP to negate those costs, or is there no headroom for this?

    Thanks in advance!
  • jmcbmwjmcbmw Posts: 64
    edited September 2012
    The Bank Fee is standard for all leases and you cannot get out of it. Some call it an acquisition fee. BMW's base bank fee rate I believe is $725 and the doc fee of under $100 isn't bad (I recently paid $75). You can double check the base rate bank fee but I'm pretty sure this is the lowest it gets for BMW. Considering I have seen dealer finance departments mark up the bank fee $100 to $200 and other charge hundreds for doc fees, you're getting a good lease deal if the selling price is near invoice.

    The X1 is a brand new offering and still low inventory and will prove quite a good seller/leaser. Make sure the money factor is not marked up from base rate (which it doesn't appear based on other posts) and you have what seems to be a very good lease! Good luck!

    PS: I saw my first on the road today and I want an X1 !!!
  • Certainly Lee. BMW Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 xDrive28i with 10,000 miles per year are .00145 and 57%, respectively. The numbers for an otherwise identical 42-month lease of this vehicle are .00145 and 51%.

    The numbers for a 2013 X1 xDrive35i are .00145 / 59% and .00145 / 53%.

    I gave you the 42-month numbers instead of the 48-month numbers because that is the longest term that BMW's special lease money factors are available for. You definitely don't want to go with the standard rates that a 48-month lease would use.

    Car_man
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  • Hi awu0419. .00145 is the lowest possible money factor for a lease of an X1 right now through BMW FS. It doesn't really matter how high your credit score is...as long as your score is over 675 you will qualify for this factor.

    BMW's lease programs are typically fairly attractive. If you feel as though a lease would suit your needs, I personally wouldn't have any problem with leasing an X1 right now.

    Car_man
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  • Hello Tony411la,

    I see you have a MSRP of $47,220. What is the selling price of the X1 M Sport you ordered? Was there any luck to get any discount on the vehicle that is being ordered?
    Just curious, because I am getting ready to place an order as well.

    Thanks so much for your time.
  • Thanks Car_man,

    I appreciate your replay. Looks like the lease interest rate is 0.00145 (APR 3.48%) and purchase finance rate @ 3.79%. From your experience, which is better? buy or lease......

    I review the lease contract there are so many fees ......but I do know BMW owners who lease usually end up buying the car at the lease end using their 0.9% APR ......Will that work better financially?
  • You're very welcome awu0419. Which is better really all depends upon your circumstances. If you're the type of person who keeps their vehicles for a number of years then you may want to consider financing. If on the other have you are the sort of person who gets a new vehicle every couple of years then you definitely want to lease. BMW's inflated residual values usually make leasing a very attractive option.

    Car_man
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  • Hi Car_man,

    Much appreciated from your previous feedback on lease or buy.

    I got a quote from a BMW dealer in Charlotte, NC. There are only two dealership here anyway and both own by the same company so I don't have much choices living in the Queen City. Isn't that insane? LOL......

    Here is the quote I got:

    The configured vehicle MSRP = $45,995
    Quoted at Invoice price with Window Tinting =$42,885 (Including Destination charge)

    The dealership added the following to my quote:
    1. Sales Tax 3% with Trading in = $656.52 (I have a trade-In as well so paying less on tax.)

    2. Transfer Tag/Title= $55.00
    3. Administration Fee=$499
    4. NC State Inspection = $13.60
    5. Vehicle Detailing = $275
    6. Shop Supplies = $10.75
    7. Mark up from Invoice Price= $200

    I calculated the dealer mark up using odd terms on #4,5,6 and 7 = $499.35

    Final OTD price = $44,059.52

    I also have the drive for USA Olympic certificate so I can get $1000 off from the vehicle price which is included in the OTD price.

    I think the dealership charge my for stupid items like #3,#4,#5 and #6 whcih should be included as part of the administrative fees. They just trying to confuse customer using terms that we are not familiar in the car business. I don't think these are reasonable nor valid fees. What is your opinion on those fees?

    Do you think this dealership is worth doing business with?

    Thanks for your time.
  • You're welcome awu0419. Some of the charges that you mentioned certainly do look silly, such as the "Shop Supplies" and the "Vehicle Detailing." These are just business expenses that all dealerships have to pay but usually don't break out separately. The "Administration Fee" is also often called a doc fee. Despite how annoying they are, most dealers charge them.

    Having said all of that, ultimately the total selling price that you are being charged for the X1 that you want seems reasonable to me, especially considering the lack of competition in your area.

    Car_man
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  • netarcnetarc Posts: 1
    edited September 2012
    I'm surprised to see lease rates here in SF being quoted at 0.00185, in light of the .00145 I've been seeing mentioned here, in other forums and at http://www.ridewithg.com/index.php/2012/09/2013-bmw-lease-rates-september-2012/

    Three dealers I've contact have the same rate; can I expect that the MF would be that much higher based on the region, then? Is MF something that can be negotiated with the dealer?
  • Car man, can you tell me what the residual is for a 2 year lease on an X1, 15k/year?

    Thank you!
  • Hi netarc. The reason why the dealers are quoting you a higher money factor is that they are marking BMW FS' buy rate up. This is pretty typical with BMW dealers, particularly on new models like the X1. If you can, try to find a dealer that will calculate your payment using the .00145 buy rate.

    Car_man
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  • Hi nyc_eng. BMW Financial Services' September buy rate lease money factor and residual value for a 24-month lease of a 2013 X1 2.8 with 15,000 miles per year are .00145 and 57%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • leeshuckleeshuck Posts: 73
    edited September 2012
    Thanks Car_Man,

    I have a 2010 135i convertible with BMWFS 36 month 12k miles/year lease terminating on 12/29/2012. I estimate I will have under 21,000 miles on the car by then, well under the 36,000 miles allowed. If I lease the X1 before my 135i lease is up, would the 135i be eligible for the pull ahead program and how does that work?

    I could also take advantage of the BMW Ultimate Drive App offer for $300 off the first payment I believe, and I could also apply the $750 loyalty offer. I'll have $500 from my BMW Rewards car, too.

    What's the best way to apply these to the lease where I have any choices?

    Thanks,

    Lee
  • That should be: $500 from my BMW rewards card (not car);-).
  • niasnias Posts: 4
    Thanks Car_Man and company, this forum has been very helpful and informative (well, let's test that) ; ) Love some feedback whether I did right or not....

    Based on: .00145 and 60%
    a 36 month/10k mile per year lease:
    2013 X1 xDrive 28i - Black on Black
    $38,745 MSRP
    $36,545 Selling Price
    Premium Pkg. -
    Cold Pkg.
    For a monthly cost of....
    $309.
    ... I traded in my old car for $5500 ($1900 still due) and put 3k down in addition to get the monthly down (didn't like putting equity into a lease, but wanted low monthly for a few years).
    Thoughts?
  • Hi nias. The truck that you described has a spread of a little over $3,000 between its MSRP and dealer invoice price. That probably puts you at around $800 or so over invoice...which sounds like a good deal to me.

    The money factor and selling price look good, but I personally wouldn't have made such a large down payment.

    Car_man
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  • I received a quote yesterday for the X1 xDrive35i 10,000 miles/year 36 months. The L.E.V.% is 62. I assume this is the same as Residual. Did the residual go up in October? Is the money factor still .00145?

    Thanks,

    Lee
  • Hi Lee. BMW Financial Services' October buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 xDrive35i with 10,000 miles per year are .00135 and 62%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • timo12timo12 Posts: 2
    Hi Car_man,

    Would the .00135/62% be true for the sDrive28i as well? At 12K miles, does the residual drop to 60%?

    Thanks!
  • Hey timo12. BMW Financial Services' October buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 sDrive28i with 10,000 miles per year are .00135 and 60%, respectively for consumers who qualify for its top credit tier.

    With 12,000 miles per year, this vehicle's residual would drop to 59%.

    Car_man
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  • GBrianKGBrianK Posts: 211
    Carman:

    Looking to get a X1 with Sport Line, Cold Weather, Drivers Assistance, Technology and BMW Apps installed. MSRP is $37845, but looking to get it at $36000. What are lease rates and residuals looking like for a Top Tier Customer (FICO 780)? How is residual calculated (on MSRP or Negotiated price)? Are there any ways to get better offers (like with joining a Volvo group gets you "Friends and Family" discount)?

    Thanks!
    Glenn
  • Hi Glenn. BMW Financial Services' November buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 xDrive28i with 15,000 miles per year are .00125 and 57% for consumers who qualify for its top credit tiers.

    Vehicles' residual values are based upon a percentage of their full MSRPs, including the destination charge and the MSRPs of any options that can be residualized.

    BMW is providing a $500 cash incentive and $750 owner loyalty cash on this truck right now.

    Car_man
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  • Does the two cash rebates also reduce dealer invoice? For example if I agreed to $1000 over invoice then would I be able to take that amount off the "$1000 over invoice" price ?
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