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2013 and earlier BMW X5 Lease Questions

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  • eddie_cheneddie_chen Posts: 3
    edited August 2012
    In NYC, got this lease for a 2013 X5 35i Premium with Convenience and Cold Weather Package, running boards, 36 months 36K miles:

    Purchase Price: 58,310
    Sales Tax: 2,626
    Acq Fee: 725
    Total Capitalized Cost: 61,662
    Residual Value: 36,223
    Money Factor: Unknown - not stated on lease agreement
    Zero Money Down
    Due at signing (1st month + DMV fees): 1,294

    Monthly Lease Payment: $847

    Thoughts on this lease?
  • snow26snow26 Posts: 24
    What is the Drive for team USA $1000 rebate and how do you qualify?

    Also, what is the BMW Ultimate Drive App rebate for $500 and how do you qualify?

    Thanks
  • snow26snow26 Posts: 24
    Are there better incentives on a 2012 vs 2013 X5? Factory to dealer cash?

    Thanks.
  • habitat1habitat1 Posts: 4,282
    We recently signed a deal on a custom order X5D that we are paying cash for and picking up at the Performance Delivery Center. So I can't comment on your lease deal, as we never considered a lease vs. purchase. However, just curious as to your option choices. We found the $1,500 premium sound to be not that much better sound quality than the standard (good) system and with BMW Apps, son't see any value in having Sirius subscription. (Been there, done that with 2 Acura's and a Porsche). Also, we didn't see much value in the Cold Weather package inasmuch as heated front seats are already standard and the ski bag would be useless for us. We live in DC area, but have second home in snow country and still didn't think that rear seat heating was worth getting the CWP.

    On other hand, we ordered the sport activity package for the more comfortable sport seats, sport steering wheel and (subjective) better looking 19" wheels. The sport seats alone are worth it to me.

    Are you taking a vehicle off the lot, or ordering to your specs and, if the latter, what made you pick the options you chose.
  • i am planning buy x5 sport activity :
    jet back
    black nevada leahter
    dark bambo wood trim
    convenience package
    multi - countour seats
    running board
    destination and handing
    total MSRP : $63295 dearler offer me $58000 ? sound good deal to me ?
  • abmwfanabmwfan Posts: 47
    edited August 2012
    The person you replied to is considering a lease, which means the cost of satellite and premium sound only add a few dollars per month to the lease.

    The premium sound didn't sound much better to you because you were listening to default settings. Premium sound is noticeably better if you take the time to understand the system and set it up properly. The no-cost multi-contour seat option with the sport package is a better seating option than the sport seats when your priority is comfort.

    The down side to ordering a base vehicle without things like satellite radio and the heated steering wheel that comes with cold-weather package is that it makes the vehicle less desirable and therefore less valuable if you ever trade it in. Especially in the DC area, which has a very competitive luxury vehicle market where people expect a luxury SUV to actually have luxury features.
  • abmwfanabmwfan Posts: 47
    A simple Google search or a look at bmwusa.com website under "Experience" will answer your question.
  • habitat1habitat1 Posts: 4,282
    edited August 2012
    I'm not sure how adding $2,250 to the capital cost with premium sound and cold weather packages only adds a "few" dollars to the monthly lease. And, unless I'm mistaken, the multi-contour seats in the x5D are not a no-cost option, but something like $900. Which we tried out and did not like any more than the firmer, side bolster adjustable sport seats. Others may think the incremental $900 is worth it.

    As far as your comment on "luxury" expectations, I agree with you to a certain extent. But.....we chose to spend an extra $10-12k over a 2012 MDX "Advance" precisely because of the way the X5D drives and handles. If you want every luxury do-dad, the MDX and Audi Q7 kill the X5, with adaptive cruise control, lane change warning, accident mitigation braking, much better navigation, better sound systems, etc. You can check every box you want on a BMW X5 and you still won't have the latest and greatest luxury or technological features. As such, we decided to check boxes that were important to us, period. And if premium sound is really worth $1,500 to someone else, great. But it's an expensive box that even almost every dealer admitted they wouldn't check, if ordering for themselves. Especially with Apple i-phone connectivity putting a big dent in the value of satellite radio.

    FWIW, I sold my 2005 911S last spring that had $13,000 worth of options. I had bought the car off the lot at a $12k discount that made up for some options that I thought were frivolous. Upon resale through a high end independent Porsche shop, the $1,500 upgraded Bose system was worth exactly $0. Navigation and the performance oriented options were probably worth half of what they cost. The next time around, I'll order to my exact specs, get a 5-6% discount off MSRP, and save at least a similar amount by avoiding the boxes that aren't really worth anything to me (or 99% of 2nd owners).
  • gerry70gerry70 Posts: 3
    edited August 2012
    Looking for MF and Residual for August, 36 months and 10k/year. Been quoted 0.00165 and 60%, although others reporting 0.00145 and 57%. Ordered but not signed papers. PCD tentatively mid-September.

    Thanks,
    Gerry
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi 4tune. BMW FS' August buy rate lease money factor for a 36-month lease of this vehicle is .00145. Make sure that the dealer uses that factor, not 165 to calculate your payment.

    Having said that, the selling price that you were quoted, invoice minus all of the available incentives, looks outstanding.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi snow26. I believe that Drive for Team USA is a BMW-sponsored test drive event. Consumers who are invited to it are able to get an additional cash incentive.

    The BMW Ultimate Drive App is a smart phone App that one can download. Consumers who schedule a test drive through it are eligible for an additional cash incentive off of a new BMW.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi snow26. Other than the $750 owner loyalty cash that is available on both, there really is not any cash incentives on either the 2012 or 2013 X5 right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Gerry. The .00145 money factor that you have seen mentioned here is indeed correct. If your credit is in good shape, the dealer that quoted you the .00165 factor is marking your rate up to add additional back-end profit to your deal.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • 4tune4tune Posts: 15
    Thanks Car_man, the dealer is not going down on the MF of 0.00165, can you please tell me the 2013 BMW X5 residual on a 36 month 10k and 12k lease. Thanks.
  • gerry70gerry70 Posts: 3
    Car_Man,

    Thanks for the info regarding MF. Knowing that, I'm better prepared to negotiate my lease payment.

    I'm still fighting their contention that I can't combine the USAA member $1000 discount with the BMW Drive for USA $1000 credit, the BMW Loyalty $750 credit and the BMW Ultimate Drive $500 toward first lease payment. Am I asking too much of them??
  • 4tune4tune Posts: 15
    Hi gerry70, all the incentives you are trying to get are stackable. Meaning you can combine them all. None of them are mutually exclusive. Don't let the dealer tell you otherwise. I checked all the rules on each of them and none of them say that they cant be combined. Hope this helps.
  • habitat1habitat1 Posts: 4,282
    Are you sure about that? I was told that the drive event $1,000 could be applied on top of the others, but that one could EITHER get a USAA or a BMW Loyalty discount, but not both of those. We were working with a sales manager that had a direct line to a BMW financial services "insider" and was able to let us know 2 weeks in advance that the $4,500 eco-credit was going to be extended past the original July 9 expiration date, so I'd be surprised if he was wrong about this either/or question.
  • bmwgal3bmwgal3 Posts: 13
    4tune, this looks like a better deal than I have found. Please tell
    me where you got a deal at $500 over invoice, before the rebates. The lowest I can find in Northern California is $1000 over invoice..
  • nd_irishnd_irish Posts: 33
    Hi Car_man,

    I would like to know what the August 2012 money factor and residual would be for a 2013 BMW X5 50i lease with 36 months and 12,000 miles per year. Thanks, again!
  • Dear Car_Man

    Can you please look at the following deal and see if it reasonable:

    2012 x5d with premium and cold weather package (nothing else added).
    MSRP $61845
    Selling $58250
    Loyalty $750
    Eco credit $4500
    MF 0.00145
    Residual 57% for 10K and 36months
    No down payment
    Due at pick $835 (includes delivery, doc, first month payment)
    Monthly payments 680$ including about 30$ WV tax.

    Does this sound like a good deal?
  • bdr127bdr127 Posts: 950
    Hi Car_Man,

    Interested in getting 12k and 15k miles residuals for the X5... Any difference between the base/premium/SAV trims? I assume the buy rate MF is still 0.00145 for August?

    Thanks for your help!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem 4tune. BMW Financial Services' buy rate lease money factor and residual value for a 36-month lease of a 2013 X5 xDrive35i Premium with 12,000 miles per year are .00145 and 59%, respectively for consumers who qualify for its top credit tier.

    The residual for an otherwise identical lease with 10,000 miles per year would be 1% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi nd_irish. BMW Financial Services' August buy rate lease money factor and residual value for a 36-month lease of a 2013 X5 50i with 12,000 miles per year are .00145 and 61%, respectively.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • nd_irishnd_irish Posts: 33
    Thanks, again, Car_man!
  • Hi Car_Man

    Can you please look at the following deal and see if it is reasonable:

    2012 x5d with premium and cold weather package.
    MSRP $61845
    Selling $58250
    Loyalty $750
    Eco credit $4500
    MF 0.00145
    Residual 57% for 10K and 36months
    No down payment
    Due at pick $835 (includes delivery, doc, first month payment)
    Monthly payments 669$ including sales tax.

    Does this sound like a good deal?
  • 4tune4tune Posts: 15
    Hi Car_man, thank you for that information. I have posted on this forum a couple of times and thanks to your information I was able to agree on a great deal on a BMW X5 premium. However, I was checking in with the dealership this week to set up a time to go in to sign papers and the dealership went back on the deal. The sales manager said that the client advisor had made a mistake and the deal is no longer on the table. I had done a credit app but have not signed any papers. Because they have done this I will be walking away from the deal. Just wanted to make sure I am not liable. Please advise. Thanks.
  • habitat1habitat1 Posts: 4,282
    How could you be liable for THEIR mistake, even if you signed papers?

    If anything, you could claim damages against them if you lost another deal, due to their mistake, but it's probably not worth taking legal action.

    FWIW, the sales manager at a BMW dealership in Baltimore went out of his way to call me on my office and cell phone when he realized that I as not a previous BMW customer and they made a mistake on a quote. He offered that if I still wanted tl drive 50 miles and look at the car, he'd pick up dinner for my family, no obligation to buy.
  • kyfdxkyfdx Posts: 27,888
    Where in Baltimore?

    I leased a car in Silver Spring last September.. flew in and drove it home.. :)

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  • habitat1habitat1 Posts: 4,282
    BMW of Towson.

    We ended up ordering from Silver Spring as they were.the only Maryland dealer that could still order a 2012 X5d to our specs. Picking it up at the performance delivery center Sept 5.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome again nd_irish :).

    Car_man
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This discussion has been closed.