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2013 and earlier BMW X5 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi abuckus. Here 's the answers to the questions that you asked:

    1) $1,000 over dealer invoice sounds reasonable for a 2011 X5 to me, though you might be able to shave a couple hundred dollars off of that if you are in an area that has a decent level of competition and you shop around.

    2) The money factor ad residual value that you were quoted look good.

    3) BMW's current lease program is scheduled to run through April 30th. It's difficult to say what its MAy lease program for this truck will be like, but if you're not in a hurry I don't think that you have anything to lose by waiting to lease a 2011 model. While BMW has a decent level of lease support on 2010 models, its programs on 2011 models aren't really that great yet.

    4) BMW is providing special lower money factors on certain 2010 models for loyal customers (1- & 3-Series), but it does not have any loyalty programs on 2011 models yet.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • "What should I be paying for this car? Here are the numbers the dealer quoted me.
    Thanks in advance!
    VEHICLE: 2010
    BMW X5 xDrive35d
    COLOR: Alpine White
    UPHOLSTERY: Black Nevada Leather
    Base Price $51,300.00
    0ZPP Premium Package 3,400.00
    0328 Running Boards 300.00
    0386 Roof rails 100.00
    04AZ Dark Bamboo Wood Trim 0.00
    06FL iPod and USB Adapter 400.00
    Destination and Handling 875.00
    TOTAL AS EQUIPPED $56,375.00
    SELLING PRICE $50,875.00
    Lease Terms
    Lender BMW Financial Services
    Term 36 Months
    Mileage 12,000/year
    Money Factor 2.7
    Residual Factor 56%
    Selling Price $50,875.00
    Bank Fee $925.00
    Total Capitalized Cost
    $51,800.00
    Residual Value $31,570.00
    Total Depreciation $20,230.00
    Capital Reduction ($0.00)
    Monthly Depreciation $561.94
    Monthly Rent $225.10
    Monthly Payment $787.04
    Tax (8.75%) $68.87
    Monthly Payment + Tax $855.91
    Capital Reduction ($0.00)
    Cap Reduction Tax (8.75%) $3.94
    License & Registration $696.75
    Documentation Fee $45.00
    First Payment $855.91
    Security Deposit $900.00
    Drive Off $2,501.60
    Trade Equity $0.00
    Rebate $0.00
    Due at Signing $2,501.60"

    Not a good deal at all. My 2011 35i came in at just under $58k, 36mo with 10k/yr.
    Final cost is $817/mo with taxes included, $0 down, $1200 out the door.
  • kabbalahkabbalah Posts: 38
    I am coming off my 3rd X5 lease in 4 months, and 4th BMW in 15 years. Looking to do another one. Does BMW financial look closely at credit scores? up until this past year my credit rating was sky high. Due to the economy etc that has all changed and it's pretty bad now. X5 lease is current and up to date although there were a few late charges. Credit cards were the problem and i have been making settlements with them but I'm not done. Will this be a major problem with BMW financial? I've also been told that if you lease a new vehicle in the last 3 months of the contract that BMW will waive the last payments. Any truth to this?

    How easy or likely is it to purchase X5 at end of lease term at a discount from the residual value, and will BMW financial finance it?

    thanks
  • jayriderjayrider Posts: 3,265
    Credit scores count -- especially if there is a preferred rate. They may cut you some slack if you have been on time with your current lease payments -- or not. Just discuss it with your finance mgr. Now, if you need time to sort out your credit issues I suggest walking away from the X5. You don't appear to be in the right place for a super premium ride. All is not lost. The Mazda 5 comes to mind -- brand new from 17-21k depending on the model. Kia Rondo -- Hyundai Elantra Touring -- Just step back for a few years -- late model impalas are great buys.
    Leasing is tougher than buying when credit issues are involved. Good luck.
  • kabbalahkabbalah Posts: 38
    Thanks for your input but I need one of the hosts or a BMW guy to answer for me.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi kabbalah. BMW Financial Services uses a pass / fail system for its lease program. Either your credit score is good enough to qualify for its best available rates or you can't lease through them at all. From what I have seen in the past, BMW FS tends to be fairly lenient about who it approves for leases. You will probably be able to lease through them unless your credit is reeeally messed up. If your credit is bad enough that BMW FS won't approve you then you probably should lease something less expensive and work on improving your financial situation.

    BMW does run official early lease termination programs for time to time where it will waive the remaining payments for returning lessees. While I am not aware of any such program right now, it is possible that BMW is indeed running one. Ask a dealer to find out for certain. Just make sure that BMW FS is actually waiving your payments and the dealer is not just making them for you. The latter will have a negative impact upon your ability to negotiate the best possible deal on your new lease.

    Most banks will not negotiate the end-of-term purchase option prices of leased vehicles. Having said this, they will occasionally do so so it never hurts to ask. Place a call directly to BMW FS and see what they can do for you. If your initial contact there isn't willing to negotiate, try working your way up the ladder to a manager. That sometimes will yield better results. Again, more likely than not they won't lower your vehicle's price but you don't have anything to lose by trying.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • kl07rphkl07rph Posts: 22
    Hello everyone!

    Wife and I are deciding on an X5 3.5 and was wondering if anyone in the Chicago area used the Costco Auto program prior to negotiating more? Trying to determine if it's worthwhile joining Costco or not.

    Thanks!
  • sherilahsherilah Posts: 1
    Hello,

    I was wondering if someone could tell me if this is a good deal, and if not, what we should try to negotiate. Here it goes:

    2011 X5 in Sparkling Bronze, Sand Beige Nevada Leather
    Convenience Pkg
    Tech Pkg
    Running Boards
    Heated front seats
    Bluetooth
    Satellite radio w/1 year sub.
    Rear Seat Entertainment
    Total as Equipped: $60,875
    Destination and Handling $875.00
    MSRP $60,875.00
    Residual %: 62.00%
    Residual Value: $37,742.50
    Cap Cost: $57,375.00
    Bank Fee $725.00
    Adjusted Cap Cost: $58,100.00
    Rate: 0.00230
    Total Monthly Payment: $862.54
    Base Monthly Payment: $785.91
    Use tax: $76.63
    DMV Fee $746
    Doc fee: $45
    California Tire Fee $7.
    Amount Due at Start: $1,664.93

    36 months/12 k per year

    or if we put $5,000 down our total monthly payment is $759.12 incl tax

    Any thoughts would be appreciated
  • kl07rphkl07rph Posts: 22
    edited April 2010
    I hope someone can concur as this lease does not add up for me...

    2010 X5 3.0xdrive Monaco Blue, 36 months 15k mile/year

    MSRP: $59175
    Cap cost: $57000
    MF: 0.0023
    Residual: 60%

    Plus 8% Sales Tax (Due upfront, stupid state): $4560
    $5k cash due at signing (which I assume includes sales tax)
    $895 a month

    How is the dealer coming up w/ something close to $900/month? Assuming tax comes from $5k due at signing, I am only coming w/ lower 800s/month. Dealer won't say how they calculated figures (shady?)

    Hope someone can verify my suspicion
  • you got ripped off kid, read my post all the way up at the top of this page.
  • kl07rphkl07rph Posts: 22
    edited April 2010
    Thanks for concurring; contrary to your response, I did not even consider that deal. However I was hoping someone here could shed some light into what my dealer was smoking.

    Seems like you got a fair deal however as my post stated, my state (IL) requires sales tax upfront. An ideal comparison would be from someone who leased from a similar state (Texas, Ohio, Illinois, etc) versus another state where taxes are rolled into the monthly payment.

    PS: Not sure if you're insulting me or not, but your condescending "kid" attitude toward me is not appreciated.
  • oiakouoiakou Posts: 18
    Hi kl07rph,
    Taxes:
    - I think the difference b/w IL and other states is that you are taxed on the value of the car (as opposed to just lease payments), but I am pretty sure that you can still roll your sales tax into the lease ("capitalize" it)
    - In Chicago there's also an additional tax on each lease payment

    Amount due at signing: I doubt that it includes sales tax since the inception fee and security deposit is 750 (for non-bmw customers) and 875... So it's not clear what the dealer is doing

    Money Factor/Residual: I've seen different numbers on the internet, you may want to double-check yourself. Dealer can mark-up money factor!!

    In any event, if he's not willing to give more information, he seems to be into game playing :) I guess you have to decide whether you want to deal with that.
  • kl07rphkl07rph Posts: 22
    edited April 2010
    Hi oiakou,

    Thanks for the clarification! I know IL is crazy in that sales tax is applied to the entire car (versus per payment), but I'm still hearing conflicting rules whether tax is paid upfront or not (it's all hearsay since all but 1 dealer have stated tax is upfront). Need to consult my state's books to find the truth...

    I'm glad you confirmed my suspicions; for the life of me I could not come up with the inflated numbers my CA quoted! Not to mention they based the MF on 0.0023 for a '10 X5 3.0, which is much higher than the base 0.00175 listed on ridewthg.com. Compounded with the inflated monthly, I didn't take the deal even if it was one "I couldn't refuse."
  • abuckusabuckus Posts: 3
    1. In Illinois, the state tax is indeed paid all upfront. Either in cash or added to your loan value (if the lender allows). If you lease, it is either paid up front or added to the cap cost and paid entirely over the term of the lease.

    2. X5 money factor for a 36 month lease on a 2011 50i is about .00215.
  • zheckszhecks Posts: 35
    Anyone knows when is the 2011 X5 coming to the showroom?

    thanks in advance.
  • tomy3tomy3 Posts: 20
    I just spoke with a sales person here in the Cleveland area and he said he had one coming Monday or Tuesday of this week.
  • tjs2010tjs2010 Posts: 1
    My lease quote includes a line item for "Total Annual Fees" and the cost is $275. Anyone know what this is? I'm in NY if that makes a difference.
  • awf_axisawf_axis Posts: 136
    Found a 2011 35i in Sacramento, with Premium, Cold, Tech and Sport Package. $62k. Did a quick neighborhood drive and found it much more responsive than a '10 30i and '10 35d. I'm not trying the 50i just because its more than I can justify.

    If the dealer would have disposed of my ML350 with 4 months left on the lease, I would have done the deal, but he said I'd have to get rid of it myself. Couldn't justify the $2300 loss for my impatience.

    The offer (without having to work) was 2k off MSRP, 63% residual but a questionable 0.00264 factor for 36 months (12k miles). More reasonable terms were offered, but I decided not to keep working because I didn't want to deal with the ML.

    CAR_MAN, do you have any official info regarding the money factor for the 2011's? Knowing that Audi has a 0.00101 rate gives me some pause about a factor that is more than double, since Audi's Q5 is supposedly in high demand, yet has the low rate.

    Based on the residual for the BMW, it's almost the same payment on a Q5 with its 49% residual, even though the vehicles are $18k apart (as I want configured).

    Thanks,
  • zheckszhecks Posts: 35
    Here is the money factor for 2011 X5. for 36 months, 0.00230.

    Here is the link. http://www.ridewithg.com/index.php/2010/05/2011-bmw-x5-x6-z4-7-series-lease-rate- s-may-2010/

    I think the salesman is trying to make a couple more bucks on you by charging you a high money factor.

    Also, I think the first shipment is loaded with all options. $62K seems high for a 3.5i X5. The 2010 3.0i X5 is listed mostly at low to mid $50K. I am also looking at the 2011 X5 3.5i but with only the Premium & Technology, 3rd row seat package. Hoping for a better deal somewhere in S. CA

    Guess I have to wait until the early rush is over.
  • eagleeye3eagleeye3 Posts: 44
    My 335i lease is up in 2 months, so I test drove the X5 over the weekend in the San Diego area. I drove the 35 Sport and 50 (did not have one with sport). Man, I was very disappointed with the 35. I recommend everyone drive both first - the 35 is much slower than I expected given the new engine. Given the relatively small difference in price between the 35 Sport and the 50, I would probably go with the V8. Since I drive 9K miles/year, the gas mileage difference is not much of a concern. I must admit I was not overly impressed. The dealer was not helping his cause by referring to a lack of supply, wanting close to sticker, and marking up the money factor. Spare me. Confirms why you only deal with the internet people at the dealer. Definitely going to drive the Range Rover Sport HSE before I make final decision. Good luck to all.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi awf_axis. BMW really isn't providing much in the way of lease support on 2011 models yet. BMW Financial Services' May buy rate lease money factor and residual value for a 36 month lease of a 2011 X5 35i with 15,000 miles per year are .00230 and 56%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • kr3pt0nkr3pt0n Posts: 6
    edited May 2010
    Coming to the end of my 335i lease as well in a month or so. Test drove the x5 3.5i and unlike the commenter above felt the vehicle had adequate power. It's not 5.0 but the price of 5.0 is significantly higher.

    I drive less then 10k/year and would like to do a 36m lease. Can anyone tell me a good money factor I should be looking for from a BMW dealership and what is the residual cost when leasing 36month 10k/year? How much over invoice are you getting your 2011 x5?
  • stonfre1stonfre1 Posts: 2
    My 335IX lease is up in a couple of Months, and I ordered a 2011 X5d.... Platnium Grey with Cinnamon, Premium, Comfort, Cold Weather RR seat ent etc..,... My MSRP is $61670 w/o dest
    The Dealership did quote me $2500 off MSRP plus the $4500 eco credit , is that fair? I offered $3500 off today
    I will be leasing it at 10k miles per year. Can you help me out with the residual and money factor? Plan on putting down 10k as cap reduct

    thanks
  • icb2779icb2779 Posts: 25
    What state are you getting the car in? Why are you putting 10k as a cap cost? Send me an e-mail and I will try to help you.
  • stonfre1stonfre1 Posts: 2
    I am putting 10k down to get to a $565 payment...the dealership is in Ca, I am in NV
    email address?
    Thanks
  • fubar2fubar2 Posts: 12
    Someone tell me if i am wasting my time. I want a new 2010 X5, 3 yr lease, 10,000 miles per year, first payment down max, can spend max $700 per month for a lease payment. Ready to lease in June or July. Is this car out of my range completley? Thanks.
  • apa1128apa1128 Posts: 11
    I'm getting ready to pull the trigger on a '11 35d order. I was wondering if anyone had luck getting the dealer to shave off some money factor. We're about $50/mo apart and I want to know if I have a chance of getting that down....
  • jayriderjayrider Posts: 3,265
    edited May 2010
    Check mandvleasing --- they have some listed. Don't know anyone who leased through them so don't know if their prices are real. Post your contact experience.
  • pt838pt838 Posts: 16
    We are picking ours up this week
  • pt838pt838 Posts: 16
    Not too knowledgeable about IL, but we were able to get 12,000 miles per year with no upfront for under $600 per month. Includes Premium Package, you did not mention what equipment you wanted
This discussion has been closed.