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- Do you really mean 50k miles per year? That's alot.
- Residuals are typically stated as a percentage of MSRP, not the selling price.
Thanks for the correction on Residuals. OK, then as a percentage of the MSRP (Sticker + Dealer installed options) the residual works out to 52.07%.
As for the 50,000 miles per year - yes that is what I mean. I'd buy more if BMW would let me (and have bought more from other manufacturers). Unlike most who lease I'm not concerned about the payments. I'm concerned about total out of pocket cost to "buy" the car. I intend to buy the car at lease end - and want it to have as low a buy out value at lease end as possible. My only reason to lease is that it works better for taxes than does buying for cash and depreciating.
Are my money factor numbers correct? .00215?
BTW - following my having cut a tight deal for as cash purchase, the dealer is trying to recoup profit by bumping the lease money rate. I'm not going for it.
NewQ
MSRP 45250
Cap Cost 42710 ( 500 over invoice)
Sale Price ( including Acq fee) 43335
Residual 78% ( 24 months/10000 miles)
Monthly 499.24 ( Money factor 0.00166 with 7 security deposits)
Happy Memorial Day weekend everyone!
How much due at inception, outside of your security deposits?
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with free floor mats
Still.. a good deal is a good deal, right?
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My husband and I were at the BMW dealership again this weekend and we saw a Monaco Blue X3 w/ tobacco brown interior on the showroom floor. My husband LOVED the color combo but were never able to build it like that (interior is either beige, black or gray). The car has:
-metallic paint
-premium pkg
-heated front seats
-heated steering
-privacy glass
Anyhow we went in to talk to our dealer and this is what he gave us:
MSRP: $42,800
Sellling Price: $40,600 + $695 destination charge
Monthly 36mo/12k: $499
Due at signing: taxes & fees...NO DOWN PAYMENT
We put down a deposit on the car and locked in this months rates (although they aren't the greatest this month but just in case they go higher in June).
What do you think? Could we do better? Do u think we could still do a little more negotiating? :confuse:
Thanks for all the postings...a great help!
How much do the fees and taxes add up to? Give us the total amount due upfront, and break it down if you can.
I had a Monaco blue loaner a couple of weeks ago.. While I liked the color (it is really blue!), my wife hated it. The loaner had gray interior with gray poplar trim. That was a really nice combo with the blue, but that interior is really light and would be had to keep clean, I think.
regards,
kyfdx
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I have the yellow slip that gives total out of pocket as: $3515.03. Doesn't have it broken down, but I'll try doing it myself:
1st month: $499
Tax: $1560 (based on NY rate of 8.375%)
Security: $500
Acq. Fee: $625
Fees & Ins: $105
TOTAL: $3289
Still need to account for $226...don't know what else was included. Maybe they jacked up the acq fee? My baby was getting cranky when they were working up the papers so I couldn't pay much attention. I'll email him for a break-up.
What do you think? Can I work on anything else? Praying that the June rates are much better!
If there is a security deposit involved, then the deal looks more than fair... If not, then I'd want the deal to be $500 less..
Good luck,
kyfdx
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Here is the deal:
$39,750 MSRP (metallic paint and heated seats)
$38,015 sales price ( I am being told it's $275 over invoice, although Edmunds invoice price is $36,620, which would make it $1395 over invoice)
$445 month (36/10k)
+$1435.64 tax (8.625%)
+$625 bank fee
+$67.50 MV
=$2573.14 out of pocket
I thought I was getting a great deal with $275 over invoice, and they are willing to give me a copy of their invoice, but the extra $1120.00, however they explain it, still bother me.
What do you think?
Invoice - 37510
Price for Lease - 39450
Down Payment - Aqcuisition, First Payment, Sec Dep = $1897
Monthly Payment - $545 (taxes included - 10% for lease in my county in PA)
He says invoice is 38100, and that he has a 300 dollar national advertising charge or some BS.
Thoughts?
Thanks
To all NYorkers, I have had good experience w/ RallyeBMW in westbury...they're not pushy and are happy to help you with questions. It took us a few months to decide what we wanted and they were totally patient.
Happy Bargaining!
Good luck!
premium w/comfort seats
auto trans
heated seats and steering wheel
navigation
privacy glass
front/rear sensors
msrp of 46800 (includes dest)
sales price of 44600 +3.5% over invoice
lease pmt on 3yrs 10k miles of $560.00
this would appear to be a pretty good deal but i would have to eat the remaining 2 payments on my x5 (aug and sept) thereby cutting into that deal.
should i wait??????? :confuse: :confuse: :confuse:
Assuming it's not too late to order an '07 model.
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Eating over $1000 in lease payments is a lot to swallow.. But, if you wait until July, then it will probably be too late to order an '07...
If you do decide to go ahead and order, ask your dealership to write your deal at the August rate, if the rate turns out to be more favorable to you. At least that way, if the deals get better, you won't be making double payments plus miss out on a better deal.
Normally, I'd say wait and take your chances, but with the end of the model year coming, you can't really do that, and still order an '07.
I think this is the definition of a dilemma..
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I've been researching to lease an X3 and here's the numbers that I have:
Terms 15/36 possibly thru BMWFS
MSRP 42950 (prem pack, xenon adaptive headlight, privacy glass, metallic color)
Buy price (looking for around) 40000 (is it possible?)
Cap Cost: 43000 (includes all CA tax, tags and acq fees)
What would be good lease payment with $0 down?
Are my numbers above looking good? I want to shoot for up to $500 incl tax for mthly pmt.
I would like to deal with dealers thru emails so any opinions you could give me about my numbers are so very appreciated.
Thanks in advance!
It makes for a pretty good lease deal, if you are a current BMWFS customer. And, a decent deal if you aren't.
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Then multiply your monthly payment by the tax rate and add that to the payment.
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15k@ 36mo
MSRP: $45,675
Cap Cost: $ 43,657
RV: 65%
Money Factor: 0.00230 (Security Deposit Waived)
Due at Signing: $3396.54
Monthly Payment $549.99
is this a good deal? I told them I wanted to be around the $550 range, and its weird that that is the monthly price they quoted me. does anyone know the calculations they use for a monthly payment? or do they just throw out a number?
What would be really weird, is if you asked for $550 and they came up with $500!!
Sort of hard to tell if it is a good deal, without knowing how the $3400 upfront is broken out. Tax in there somewhere? We know there isn't a security deposit. 1st payment? Acquisition fee ($625 or $825?). Title/license fees?
If you have an itemization of the amount due at signing, we can see what's up.
regards,
kyfdx
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i pulled the trigger. thanks for your help!!
If you are, the rate is .0015.. If not, the base rate is .00215..
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I'd play dumb about knowing that they marked up the old rate.. Maybe you can get them to give you the base rate on the new one.
The rate with maximum mark-up should only be .0019, so even if they don't go all the way to .0015, you should be getting a substantial reduction in payment.
regards,
kyfdx
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Might let it go for now, but insist on it later. They'll make the same amount at .0019 on the new program, as they would at .00255 on the old program, so it should be no skin off their nose. Only BMWFS will make more money if they run it through the April program.
Good luck!
kyfdx
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36 months/15K mi/yr
2007 X3 3.0si SAV
205 Steptronic auto trans.
A35 Monaco Blue Metallic Paint
LUAD Gray Nevada Leather
ZPP Premium Pkg
761 Privacy Glass
MSRP + Dest. Chg. = 42150
Invoice + Dest. Chg. = 38805
My Price + Dest. Chg. = 39599 ($794 over invoice)
Acq. Fee = 625
Adj. Cap Cost = 40224
Residual = 65%
Base Money Factor =.00215
Discounted MF* =.00166
*Discount MF applies when you make 7 add'l security deposits, which you get back at the end of lease term, for a total of 8 security deposits.
Sec. Dep. ($500 x 8) = 4000
FL Title/License Fees = 369
Base Monthly Payment = 468
with FL 6% tax = $499/month total payment
36 months @ 15K miles/year
You have a low selling price, base MF and base acq.fee.. And, no extras... If your amount due at signing is $4868, then I'd jump on this deal.
There is a special money factor for current BMWFS customers. But, if you are a new customer, this is as good as it gets.
regards,
kyfdx
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My buying experience and experience with dealers: if you have money you want to fork over, they love you. They're never as tacky as say a Nissan or Ford dealer but at their base they're just car salesmen trying to make a profit off a great name. I think the internet BMW CPO is the best way to go because the value on these drop pretty drastically from new to 1 or 2 years old. You have to search for the features/colors/price you want but it can really save you thousands. Also, I don't think there's a 'best time of year' to shop. I would go in trying to buy at the suggested internet listing cost then simply ask if they'll take less. When I was shopping around I'd always ask if they'd accept less and they always would, but they'll never volunteer that. The most I was able to reduce price by was $3,500. the least reduction was $1,500. I think it's worth that much to ask the question since the worse they can say is 'no'.
As for the BMW X3, I love it but in retrospect it'd be hard choosing between the X3 and the Volvo XC 90. I think the X3's interior is spartan by comparison but I like the exterior slightly better. Tough call and worth a test drive to get the final check before you take the $30+K plunge.
Good luck.
Regrettably, I didn't do very well at negotiating the 325xi, and am hoping to do better this time around if I can. The one problem is, I do drive a lot of miles myself... around 25k per year. I also like to own new vehicles after a few years, which typically isn't a good plan for a lease. I'm having difficulty deciding if a lease would make any sense, even if I wanted to order the x3 of my dreams and buy the car afterwards. My dealer is trying to convince me to go with a 10K miles lease in that case, but that doesn't make any sense to me, even if I really love the car. The residual value will be priced a lot higher than the car will actually be worth. Should I buy 10-15K extra miles up front? I would think that payment wouldn't be much better than an outright purchase, but I am trying to keep the payments in a decent place relative to a 5 year term. Before I even bother negotiating, does anyone have any thoughts as to the viability of even considering a lease, especially if there are no special incentives left for 07?
Many thanks for any thoughts/suggestions.
I am looking to do a 24 months lease on the X3, 15K miles per year. I was quoted the residual value of 75%, and the money factor of .00215, which they say is discounted from .00230 since I currently have a BMW.
From the postings in this forum, I learned that the discounted rate is .00150. I currently have a bought (not leased) 2004 530i financed through BMWFS, halfway through the payments. Do I qualify for a discounted lease rate? Is the dealer tricking me into believing that I get a discounted rate while I actually do not?
Thanks for the help.