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2013 and earlier BMW X3 Prices Paid and Buying Experience

1323335373861

Comments

  • racnoracno Posts: 6
    Kyfdx Thanks for your response. I will answer your questions in the same order
    1) The price doesn't include taxes.
    2) Outside of security deposit there is no amount required for cash down
    3) I am not sure how the dolar amount went up by 36 - will verify with the dealer
    4) You are right- i am expecting the cost to go up by around $2000 with some options
  • kyfdxkyfdx Posts: 29,371
    $1100 upfront and $400/mo. for a $38K car.... is a good deal, no matter how you slice it..

    Nice work,
    kyfdx

    MODERATOR
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  • kyfdxkyfdx Posts: 29,371
    I was just using a hypothetical...

    But, yes... I'd rather back that $2500 downpayment out of the deal, and yes, it will add a corresponding amount to the payment.... but, it will end up being a little more than $2500 / 39, because you'll have finance charges on the $2500 that is included in the payment.. So, maybe $365/mo.+ tax...

    The deal looks okay... just avoid putting all that money upfront...

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • kyfdxkyfdx Posts: 29,371
    If the acquistion fee is added into the cap cost, the 12K/yr number is pretty close.. maybe about $5/mo. too high... That would leave only 1st payment, security deposit and registration fees due at signing... And, of course plus taxes..

    If you get a comparable deal for a more expensive model, figure about $12-$13/mo. higher per every $1000 higher MSRP...

    He may have just been quoting 15K numbers off the top of his head... The difference should only be $20-$22/mo. more...

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Interested in buying a X3 2.5, as this model won't be in production in 06. Is now a good time to buy? I checked some dealers around and they basically asked for 1K higher than invoice price. Is this a good price?

    Thanks.
  • I bought a X3 3.0 two weeks ago for 500 over invoice in rochester,ny and noticed some posts for even less. Aim for a price 500 below invoice as 2.5 does not seem to be as popular as 3.0. Good luck.
  • blu777blu777 Posts: 10
    Hi there again, I looked into leasing the X3 3.0 as suggested and here's the deal they are offering...is this legit?

    For an automatic White on Beige leather with premium pkg., privacy glass and satellite prep:

    Initially their best offer was:
    purchase price: $36,720
    MSRP: $39,220 (plus tax and DMV)
    Residual: 63% of MSRP
    MF: .001 with a $450 deposit
    39 month lease

    I got them to lower the purchase price to $36,270
    The lease came out to: $404/mo + tax = $427/mo.
    Drive off: $1209.40

    I'm in CA and the tax here is 8.25%

    Thanks for the help! Also, should I roll the deposit into the lease?

    Blu
  • kyfdxkyfdx Posts: 29,371
    If I use $36,270 as the purchase price... the only way I can get to $404/mo.+ tax, is to assume the acquistion fee is rolled into the cap cost (this looks right), and the money factor is bumped up to the maximum .0014.....

    It looks like they are bumping up the money factor.. At the base money factor, the payment would only be $380/mo.+ tax..

    I wouldn't roll in the security deposit...

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • blu777blu777 Posts: 10
    Sorry, a litle confused about the cap cost. Not sure what that means..forgive the ignorance on that one. Should the acquisition fee be included in the purchase price, or are they right to be charging me $625 (he says that they also must tax me on this now). He insists he's giving me a .001 money factor. How much should I be paying with the numbers I have?

    Thanks!
    Blu
  • kyfdxkyfdx Posts: 29,371
    Yes... the acquisition fee gets added to all leases... You can roll it into the payment (cap cost is the selling price + any additions to the selling price.. like the acq.fee).

    The only other discrepancy I could see that would explain it.... is if the MSRP you quoted me is wrong... In other words, if you have added accessories on to the price, etc....

    Only the MSRP on the bottom of the sticker is used to calculate the residual... You didn't add in any other amounts there, did you?

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • blu777blu777 Posts: 10
    Hmmm...This MSRP reflects the options on the vehicle

    MSRP: 39220
    purchase: 36270
    application fee: 45
    acquisition: 625 +tax
    title/reg. cost: 305
    residual: 24708
    deposit: 450
    10k/yr. 39 month lease
    .001 money factor
    8.25% tax
    drive off is 1209 when you include deposit, app. fee, registration/title and first month lease
    That's all I got...let me know and thank you again!

    Blu
  • kyfdxkyfdx Posts: 29,371
    I added the $625 acquisition fee to the selling price.. to get a cap cost of $36,895

    With everything the same as you have listed, the payment should be $374/mo.+ tax... Tax is about $31/mo. if they tax the payment where you live (what state do you live in?).

    So, that comes to $405/mo.

    At inception: 1st payment, security deposit ($450), title/registration/app ($350).. for a total of around $1200....

    My only other explanation for the discrepancy: Maybe he is running the numbers for 36 months, instead of 39 months... the residuals and money factor are the same, so running it for the shorter period (by mistake) would result in the higher payment...

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • blu777blu777 Posts: 10
    I live in California-- 8.25% tax. I put the numbers in the edmunds lease calculator and it comes to $415/mo for 39 months. Is this a good deal for this model with these options or should I be asking for less (if I get the dealer to agree with the edmunds calculator of course)?

    Blu
  • kyfdxkyfdx Posts: 29,371
    It doesn't look like a bad deal, even at $425/mo.. Less is always better.. If you are in CA, I'm sure I calculated that correctly...

    So, unless your dealer is calculating it incorrectly by mistake, then he is either bumping up the MF, or he is not selling the car for the price he says he is....

    But, my first inclination is that $36,270 is an incredibly low selling price... So, I might hope to get another $10-$20 off the monthly price... but, if I didn't, $425/mo. seems like a pretty good deal for a $39K car...

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • blu777blu777 Posts: 10
    So you're saying it should still be about $405/mo. with these numbers in California? Is the edmunds calculator reliable, because it said $415. It seems that unless I get them down further on the purchase price, which seems unlikely at this point in the game, I don't have much room to negotiate? Is there any way I can wiggle the numbers a bit to your knowledge?

    Thanks for all the advice and I'll be sure to let you know how it went!

    Blu
  • kyfdxkyfdx Posts: 29,371
    Sometimes the Edmunds lease calculator adds in some strange numbers.. The lease calculations are fairly simple, and I do them on a spreadsheet.... And, yes.. $405/mo is correct using your numbers...

    I don't think you have any chance of getting the purchase price any lower.. All you can do is ask if they are adding anything else into the Cap Cost, besides the $625 acquisition fee..

    Unless they are adding in other charges and not disclosing... there can only be two explanations..

    1) They are mistakenly figuring the lease as 36 months, instead of 39 months.

    OR

    2) They are bumping up the money factor to .0014... It is possible the finance office could be doing this without letting the CA know about it..

    So, do what you can.. press them on the issue... If you can't get it lower, the price is pretty good, as is...

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • blu777blu777 Posts: 10
    Just the advice from edmunds to fax the dealers in my area for a quote was invaluable in getting to this price in the first place. Thanks a bunch for everything and I'll let you know :)

    Blu
  • gingibigingibi Posts: 5
    Dealer is offering the following:

    2005 X3 2.5 titanium gray with black leatherette, 6-speed manual

    installed options:
    249 milti-function steering wheel
    402 panorama moonroof
    429 aluminum finish interior trim
    459 power front seats
    520 fog lights
    522 xenons

    MSRP: $35850

    Selling Price: Invoice ($33215) plus $1000

    Lease: Owners choice: 39 monhts, 12k miles/yr, $2500 due at signing
    Payment: $434/month

    Is this a good deal?

    Thank you for your help.
  • kyfdxkyfdx Posts: 29,371
    I show invoice at around $32,900 for that configuration... But, the difference could be due to MACO (regional advertising)..

    I can't reallly comment on your Owner's Choice deal, as I don't follow the interest rates/residuals for that program. Any reason you can't do a regular lease? What state do you live in?

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • gingibigingibi Posts: 5
    I live in Texas.

    What is the difference between regular lease and Owners Choice?

    Would you recommend a regular lease? What would be good numbers for a regular lease for the above vehicle.

    Thank you!
  • kyfdxkyfdx Posts: 29,371
    In Texas, you pay sales tax on the whole car, instead of just on the lease payments.... they tend to push the Owner's Choice, so that if you decide to keep the car, you don't have to pay sales tax on it, again....

    It is a balloon note, rather than a lease... In effect, it is the same, if you turn the car in at the end of the lease/balloon term.

    I'll run the numbers for a regular lease... .and we'll see how they compare... Does your $2500 include everything you have to pay at signing? And.. do your numbers include the sales tax?

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • gingibigingibi Posts: 5
    Not sure how the dealer calculates the monthly payment.

    The sale price is invoice ($33215) plus $1000 plus TTL. I think the sales tax in TX is 6.25%.

    $2500 includes everything due at signing.
  • kyfdxkyfdx Posts: 29,371
    Does the payment he quoted include the sales tax?

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • gingibigingibi Posts: 5
    Yes, this should be the whole payment.

    Thank you for your help!
  • gingibigingibi Posts: 5
    I am sure I can push for regular lease instead of Owners Choice if it gives me better numbers.

    I would like to keep my monthly payments below $400 and pay the least possible amount due at signing.

    Please run the numbers for a regular lease.

    Your help is greatly appreciated! Thank you!
  • kyfdxkyfdx Posts: 29,371
    I ran the numbers... Of course, I have to guess on the exact tax and registration fees, etc...

    Doing a regular lease, I come within about $8/mo. of the payment they quoted for the Owner's Choice.... Since that is only about $300 over the term of the lease, you can chalk that up to almost anything..

    Given that, I'd stick with the Owner's Choice.. If you end up keeping the car after the 39 month term, you'll be much better off that way, than with the lease...

    As I tell almost everyone else looking at the 2.5... Ask them what the payment would be on a comparably equipped 3.0 model... You might be surprised at how small the difference will be.

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • avantgoavantgo Posts: 4
    X3 3.0 MSRP of 40,345 - with premium package, cold weather, heated seats, and privacy glass - silver gray with black interior
    Buying price of $38,345
    Lease term: 39 months - 12,000 miles annually
    Confirmed the 0.00100 lease factor but don't have all other details yet
    Pricing quoted is $2195 upfront (tax, deposit, first month payment, Ohio apparently requires sales tax upfront, ) and $452/month.

    Based on what I've seen here, these numbers seem higher, though I'm not sure where.

    Quote for 39 months, 15,000 miles annual is $472 with similar upfront payment.

    Thanks in advance.
  • kyfdxkyfdx Posts: 29,371
    If $2195 includes all that...

    I rolled the $625 acq. fee into the cap cost
    MSRP 40345
    Sale price $38345
    Cap cost $38970

    39mo/12K residual is 62%
    Money factor is .0010

    Payment is $422/mo.

    39mo/15K residual is 60%
    Money factor is .0010

    Payment is $442/mo.

    They are either adding something else into the cap cost, or they are bumping up the money factor.

    The one item that gives me pause.. $2195 upfront.. after subtracting $950 for first payment and security deposit, that leave $1250 for tax and registration.. That seems low for Ohio.. they recently changed their tax treatment of leases, and I'm not sure how it works now... But, that amount seems low.. Are you getting a tax credit on a trade-in?

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • avantgoavantgo Posts: 4
    Thank you for your quick help. The information on the residuals for 39 months is certainly helpful.

    Regarding the tax treatment for Ohio - that has been confusing for me as well. The best that I can assess is that the $1150 or thereabouts (if I subtract $100 for registration) is the tax is for the difference between the Capcost and the residual - in which the case the numbers are close.

    Thanks again.
  • avantgoavantgo Posts: 4
    Found a 2002 posting that explains some of the tax treatment in Ohio. See below:

    "I recently heard some information that I thought some of you might find helpful when leasing a new vehicle, well OK just those of you who live in the state of Ohio. Changes were recently made in Ohio's tax taws that require all sales and use taxes for leased vehicles to be paid by the dealer upfront. This new law officially began on February 1st, 2002. After this date, taxes on leased vehicles in Ohio will be collected in advance and be based on the total amount paid by the lessee under the lease agreement, including any down payment that they made to reduce the vehicle's capitalized cost. So in order to figure exactly how much tax you owe on your leased car or truck, take the sum of all of your lease payments, add your down payment to it, and multiply it by Ohio's 5% tax rate. This sales tax may be collected in full or be baked into the vehicle's capitalized cost. Please feel free to use this discussion to discuss this specific tax law or tax laws in general. Thank you.

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