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2013 and earlier BMW X5 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi x5fan10. I personally don't know how sales tax is calculated on leased vehicles in Maryland, but you may be able to find out by visiting one of the following sites:

    Maryland Department of Motor Vehicles

    or

    Comptroller of Maryland

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi rahulskh. The X5 that you're interested in probably has a spread of around $4,800 between its full MSRP and its dealer invoice price. Plus BMW is providing a cash incentive of $1,750 on it right now. That gives you a total of around $6,550 to play with during your negotiations. The $53,000 selling price that you were quoted is actually a really good deal. The $48,000 price that you want is probably not attainable.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey mensah007. The best way for me to evaluate this deal is for me to take a look at this truck's selling price in relation to its MSRP. Let us know what these numbers are and I'm sure that either myself or another knowledgeable community member will let you know what we think.

    One thing that I notice about this deal right off the bat is the large $5,000 down payment that you are considering making. I always advise consumers not to make large down payments on leased vehicles. Lessees who make big down payments risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered.

    Car_man
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  • x5fan10x5fan10 Posts: 17
    thanks Carman

    Had one more q?
    i finally got a deal on made to order X5.
    one thing where the dealer took me is sec deposit. he told me i have to pay that irrespective- i pay it down or rol it in my payments(MF 0.00195). In the latter case, i will not get it back- is that true??
    if i pay it upfront to cut my MF to 0.00180 i will get it back, but if i roll it into the lease, then it wont be refunded plus the MF is 0.00195
  • kyfdxkyfdx Posts: 27,613
    When you don't make the security deposit upfront, it isn't really being "rolled into the lease". In that case, the security deposit is waived, and the money factor is adjusted upward to account for no deposit.

    So, in effect, the dealer is correct.. If you don't make the deposit upfront, there is no deposit to be refunded, and you have to pay the higher money factor.

    If you do the math, you'll find it is a much better deal to make the deposit and get the lower money factor.

    Returning BMWFS customers have their deposits waived, with no additions to the money factor.

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • dpeck1dpeck1 Posts: 51
    I heard that BMW has just announced a $4,500 rebate on any 2009 X5 diesel. Carman, is that in addition to the $1750 lease incentive? Please advise. Thanks.
  • danf1222danf1222 Posts: 11
    CarMan:

    A few questions, thanks.

    Can you give a ballpark figure of what the spread between dealer invoice and a base BMW x5 3.0 (MSRP 47,500) is (I'm not sure what options we are interested in yet, but a good start would be just to know how much to negotiate off the base model).

    We have some time and dont need to get into a new car until November. Any idea as far as when the best time of year to lease this truck is? I guess along these lines would also be how long the $1750 conquest cash will be offered?

    Do you have the July figures for MF and Residual on a 36 month 12K lease.

    Thank you.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi dpeck1. I hadn't heard that BMW introduced such a large cash incentive on the X5 diesel. I do know that it has $1,750 on non-diesel models in July. I'll have to make some calls and see what I can find out about the 35d.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi danf1222. You can look up the exact dealer invoice for the X5 that you are interested in, as you want it by looking up this truck in the New Vehicle Pricing section of Edmunds.com.

    It is difficult to say how long BMW will continue to offer the $1,750 lease cash on the '09 X5. This cash has already been around for several months, so it would surprise me if it disappeared after its current scheduled expiration date of August 31st, but it is difficult to say what manufacturers will do with their future incentives.

    BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 BMW X5 3.0 with 12,000 miles per year are .00180 and 57%, respectively.

    Car_man
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  • mangoolermangooler Posts: 3
    I want to lease a new X5

    Sgolshani1@gmail.com
  • tidestertidester Posts: 10,110
    I want to lease a new X5

    And, ... ? :confuse: :confuse:

    tidester, host
    SUVs and Smart Shopper
  • yz1281yz1281 Posts: 2
    Car man

    im in Texas, I am dealing on an x5 30i
    MSRP 58,370
    SALE PRICE 57,370
    CCR 0
    APR 6.5%
    RESIDUAL 55%
    MILEAGE 15K
    REBATE 1750
    SECURITY DEP. 0

    This was the dealers first offer. Im not very happy with it. What should residual and apr. be on that vehicle? This is not an instock vehicle. It would be transferred in from about 300 miles away.Should There be a charge for that.? Also im turning in a 3 series that is 6k under on mileage is there any credit there? Also dealer told me 6.5% apr is not negotiable on lease program is this true?

    Sorry so many questions just trying to be prepared for next round!

    Thanks in advance.
  • ardvarkusardvarkus Posts: 90
    I heard the same thing, BUT NEED SOME CONFIRMATION!

    I am actually pretty surprised folks aren't talking about it, make me wonder... but your post is exactly what I heard from a salesperson (who might have spoken too soon)

    Not sure if it is a cash rebate, dealer incentive or lease incentive.

    Anyone????

    A
  • dpeck1dpeck1 Posts: 51
    Found out from two dealers it is a $4,500 options credit in liu of the $1750 offered now. HOWEVER, if you lease, they bumped the rate up from .0018 (4.32%) to .0025 (6%), so really doesn't save a whole lot. But if you figure that most dealers will give you $4,000 off MSRP, you could save $8,500 on the 35d. Just pray the price of diesel stays low and that you can find it.
  • rahulskhrahulskh Posts: 2
    Thanks for your advise Car_man! I still have a months time for my other lease to expire and thats when I would start shopping aggresively for x5. Had couple of more questions.
    1) Is money factor purely based on credit score?
    2) What is max money factor?
    3) Do you think which would give me lower payments 24 months or 36 months?
    4) What would be your preference 24 or 36 mths?
    5) Do you know when 2010 is coming out?
    6) Do you think if I wait for 2010 to come out I can get 10k off of the MSRP (59k)?

    Please let me know.
    Thanks
  • ardvarkusardvarkus Posts: 90
    Yes, it replaces the 1750 lease credit.

    The good news is that the 4500 is a straight reduction in the cost to the dealer- so it can be applied to a purchase, loan or lease.

    I never lease, I purchase or use a line of credit, so creative financing is useless. Give me a lower cost!

    :)

    A

    PS "Find diesel"?!?! You must not own a diesel. :) For me an F2504x4 PSD and a diesel tractor, and finding diesel (think truck stops) is never a problem.... in hundreds of thousands of miles...
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi yz1281. BMW Financial Services' July buy rate lease money factor and residual value for a 36 month lease of a 2009 X5 3 with 15,000 miles per year are .00180 and 55%, respectively. A money factor of .00180 is equivalent to an interest rate of around 4.3%. I wonder if the dealer quoted you a balloon note on this truck. Given the fact that you are in Texas it would not surprise me.

    Dealers do not usually tack on an explicit charge for swapping for a vehicle, but don't expect to get the best possible deal on one that the dealer has to go out and get. Dealers would much rather sell you something that they have in stock.

    Unfortunately, lessees do not get any credit for unused mileage.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem rahulskh. While many banks' money factors vary by credit score, BMW Financial Services uses what one might call a pass / fail system. Either a lessee qualifies for its best available money factors or they cannot lease through them at all. BMW Financial Services' July buy rate lease money factor for an '09 X5 3.0i is .00180 for returning BMW FS customers or new ones who opt to pay a security deposit at lease signing. BMW will waive its security deposit requirement for new customers in exchange for a .00015 money factor increase.

    Dealers are often allowed to mark vehicles' money factors up, and BMW dealers are notorious for doing so. Savvy customers who are in an area that has a decent level of competition can usually convince dealers to use the buy rate to calculate their monthly payment.

    Typically 36 month leases provide much lower monthly payments than 24 month leases. This is because new vehicles experience their most rapid depreciation hit during the first year of ownership. Thirty-six month leases have an extra twelve payments to spread out this large initial depreciation hit out over.

    I don't know exactly when the 2010 X5 is scheduled to arrive at dealers. When the 2010s do begin to arrive, I suspect that you will be able to negotiate a selling price that's fairly close to dealer invoice, perhaps a couple hundred dollars over, minus any available cash incentives on a leftover '09 model.

    Car_man
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  • yz1281yz1281 Posts: 2
    thanks for the reply car man.

    So what is a good negotiated sales price on an x5 that has a Msrp of approx, 58K ?
  • nycbmwnycbmw Posts: 6
    Just started lease search for x5 diesel.
    first try:
    Premium Pkg., Cold Weather Pkg., Rear Climate Pkg. & Ipod Adapter.36 Months, 12,000 miles. $0 down as cap cost. The payment is $729.99 including tax with $2799.00 due at inception this includes the First Month, Motor Vehicle Charges, The Bank Acquisition fee,.dealer conveyance & $799 Security Deposit.

    what i can figure is MSRP is $57975 and Invoice is $53,350.

    This initial quote is pretty awful i think. any comments?

    ps. sales tax here is ~6%

    Thanks
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