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BMW X6 Lease Questions

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  • Hi Car_Man

    Thanks for help in answering my specific question and all the help you provide on the forum.

    Very much appreciated!
  • You're very welcome xmonger.

    Car_man
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  • Hey Carman - I'm at the BMW dealership and I'm being quoted 59% residual with 0.00165 MF for 10kmi per year on the x6.
  • Hi sbasu. BMW FS' buy rate lease money factor for this vehicle is only .00145, so the dealer that you're working with is marking it up slightly.

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  • Thanks car_man. Any thoughts on the Residual?

    And, on the MF, is 145 the cost of the money to BMW FS or is that already marked up/margin to it's cost of the money?
  • You're welcome sbasu. The residual value is correct. BMW dealers don't have the authority to alter BMW FS' resids.

    A money factor of .00145 may actually be below BMW FS' cost of money. I don't think that anyone outside of a few employees at BMW FS knows what its cost of money is. It doesn't really matter what BMW FS' cost of money is because this is the lowest possible money factor for this vehicle.

    Car_man
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  • Ok. This helps immensely.

    This tells me that 59% residual is what it is. 0.00165 MF being offered is not the lowest. As someone with a 700+ credit score I should be able to avail of 0.00145 MF.
  • think about dealing with an used car salesman. He is going to tell you every "right" reason to charge you more. As far as I am concerned, you should only pay the 0.00145 MF and nothing more. I signed a deal recently and the dealer wanted to charge my a higher MF. All you have to say is that, another dealer is offering 0.00145. should I deal with someone else?? you will get it.
  • Glad that I could help you out, sbasu. Good luck in your negotiations.

    Car_man
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  • sbasusbasu Posts: 6
    Car-man, my x6 is finally at the dealership so my lease deal will be based on Nov figures. What is the 36mo/10k MF and residual for an x6 in nov? Thank you much.
  • What are the November lease rates for 36/10k– money factor, residual for a 2013 BMW X6 35i?
  • Sweet. Here you go sbasu. BMW Financial Services' November buy rate lease money factor and residual value for a 36-month lease of a 2013 X6 35i with 10,000 miles per year are .00125 and 59% for consumers who qualify for its top credit tiers.

    When negotiating your deal, make sure to take the $1,500 holiday credit that is currently available on the '13 X6 into account.

    Car_man
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  • Hi metamindwerx. Please see my previous post for the information that you're looking for. Thanks.

    Car_man
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  • Carman,

    Thank you for the help - with your assistance, I was successful in negotiating my dealer down to .00135, 59% residual, 1k over invoice, and capturing the 1500 holiday cash plus 750 in loyalty $.

    I have a couple of questions for you... regarding the lease deal. I want to pay all the up-fronts and not have them factored into my cap cost at all, so it doesn't affect my lease. My dealer tells me they have to be in the contract and included in my cap cost - is this true? Also, after looking at the math of doing MSDs I think it's not a bad deal - because it's basically a 11% return on money (which is earning far more than what I'm earning elsewhere and those funds are just sitting so I could afford to use them) - what are your thoughts on that?

    Finally, I had Fidelity tire warranty in the past and it worked well for me - what is a good price to pay for this, and do you know of any other sources where I could purchase it at a better price? I've not yet got a quote from my dealer.

    Thanks!
  • sbasusbasu Posts: 6
    Hey - for some reason I missed your reply. Thanks for the details - this is very helpful. You've been a great help.
  • Hey Guys,

    I'm new to the forums and so far I've learned about leasing and such, so thank you in advance for all the information you guys have provided. Before I get into my questions, I am a complete noob when it comes to leasing a car and only have a basic knowledge of how to do the math.

    At any rate, I am interested in leasing a 2013 BMW X6 xDrive35i (36 mo/10k miles) and was intrigued to learn that BMW is doing it's holiday special. The special lists the monthly lease payment at $659.00 excluding taxes based on a MSRP of $63,395.00 In the fine print, it states that total lease payments are $23,724.00 and that the vehicle may be purchased at the end of the lease for $37,757.00

    I am looking to break this down and reverse calculate the holiday special so that I can obtain the other variables needed (MF for example). I have turned to this forum in particular to find some guidance in doing so.

    So, my questions for you guys are:

    1) Am I right in my assumption to take this approach? Specifically, I am looking to get the X6 with the sports package, premium package, and premium sound and want to know about how much I will be expecting to pay for the monthly which is why I rationed that I need all the other variables not explicitly listed in the fine print.

    2) Does the $659 include the interest payments or is this just the base monthly price? What would be the actual residual of the vehicle at the end of the lease?

    Any help will be much appreciated. Thanks in advance and I look forward to hearing from you guys!
  • car_man

    I was under assumption based on what i read that residual for x6 3.5 15k was 57% for november. I think I read that a couple places. However the dealer is quoting me 56% and I do know that residuals are set by BMW FS and dealers can't change them. However, why is it that I read a couple places that it's 57% and they are saying 56%.

    right now, i'm $1,190 over invoice with .00135 and 56%. How much lower do you think I can get to invoice base on what your saying.

    Thanks
  • You're very welcome metamindwerx. It sounds like you did a good job in your negotiations. I don't think that you have to include all of the various fees and other charges in your vehicle's capitalized cost if you don't want to, but I usually advise consumers to do so. Consumers who pay a ton of money at lease signing are usually essentially out that money if their vehicle is totaled in an accident or stolen and never recovered. It's safer to put as little money down as possible at signing whenever possible.

    MSDs are indeed usually a pretty good deal, particularly in today's low interest rate environment where that money would be earning next to nothing in the bank.

    Unfortunately, I'm not all that familiar with tire warranty pricing.

    Car_man
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  • No problem sbasu. I'm glas that I was able to help you out. See you around the boards.

    Car_man
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  • Welcome beezalee. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    I can provide you with the money factor and residual value information, so all you have to worry about is figuring out an attractive selling price, which we'll get to in a second.

    BMW Financial Services' November buy rate lease money factor and residual value for a 36-month lease of a 2013 X6 xDrive35i with 10,000 miles per year are .00125 and 59% for consumers who qualify for its top credit tiers.

    Now back to the selling price. You can look up the dealer invoice price of the exact vehicle that you are interested in over in the New Vehicle Pricing section of Edmunds.com. Once you have that number, subtract the available $1,500 holiday cash incentive from that and add whatever dealer profit you think you can get away with, say $500 or $1,000 and there's your offer.

    Car_man
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  • Hello rsingleton. The correct residual value for a 36 / 15 lease of this vehicle is indeed 56%.

    The deal that you were offered looks reasonable to me. I am not intimately familiar with what the market is like for the X6 right now, but if you are in an area that has a decent level of competition I wouldn't be surprised if you were able to shave a couple hundred dollars off.

    Car_man
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  • Car_man - Thank you very much for your help. Gonna go to the dealership this week with this new found knowledge and hopefully pull off a favorable deal.
  • You're very welcome beezalee. Good luck in your negotiations. Happy Holidays!

    Car_man
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  • warz00warz00 Posts: 11
    Hi Car Man - can i get money factor, residual, and incentives for the above car for 36 months, 15k miles? Thx!
  • Absolutely warz00. BMW Financial Services' January buy rate lease money factor and residual value for a 36-month lease of a 2013 X6 xDrive 50i with 15,000 miles per year are .00125 and 57% for consumers who qualify for its top credit tiers.

    Car_man
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  • Dang i just got an x6 3.5 4 days ago for .00135 and 58% on 12k. According to this a 12k is 59% now. Maybe the holiday credit i got offsets this. Hope so
  • warz00warz00 Posts: 11
    Thx very much Car Man! How would it change for 36 months/12k miles? Also I am familiar with multiple security deposit (MSD) programs - what is in it for the auto leasing companies to offer MSD programs? Thx
  • Hi warz00. The money factor for a lease with 12,000 miles per year would be the same, but the residual value would be 2% higher.

    I suppose that banks benefit from doing multiple security deposits in two ways. One, they have your money if your car comes back completely trashed rather than having to chase you around for it. Two, and this was more true in the past than in today's zero interest rate environment, they benefit from the float. They can invest the money that you gave them for three years and keep any interest that they earn on it.

    Car_man
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  • Hi Car Man
    I'm in south florida i'm looking to lease bmw x6 15 k year 36 months
    taxes built in 7% florida
    could you give my an idea what should i be paying
    i do not want to be taken for a ride with sales person
    your time is appreciated

    also i like gran turismo also
  • Hi rickyeee1. Please provide me with the MSRP and dealer invoice price of the exact model that you're interested in and I'll gladly use BMW's current lease program to work up a sample lease payment for you. You can find the pricing data for the base vehicle and all of its options over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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