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2013 and earlier BMW X5 Lease Questions
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Comments
It is .00200 my manager goofed. The payment is $837
Big difference. Any thought on the deal I was offered now?
Thanks for the info.
MSRP $54,860
"Sell price" $48,150 (about $2K below invoice)
Cap Cost Reduction $3,000
Total out of pocket $4500
MF .0024 (yes, this was before the current MF drop)
Res 56%
36 months/10K mi per year
$658 month
Cap cost includes ($300 dealer fees, $825 BMWFS acquisition fees, and state sales tax which we pay all upfront). As a first time BMW lessee I had to pay a security deposit.
residuals are 55% for 12k miles/yr, 53% for 15k miles
Is the .002 negotiable or not?
Options: Premium, Tech, Sports, Rear Climate, Cold weather, Third row, ipod, Sirius, running board (MSRP 67520).
Total out of pocket (including taxes): 4100
Monthly payment: 754.50
Regardless of the price, Money factor or residual, Is this a good deal?
Thank you.
I had to work it a little by getting 5-6 quotes.
I didnt discuss money factor or cap cost or delar incentives with them, just the monthly payment.
Is the August MF on the 3.0 X 5 with a a 36 mth lease still .002? If thats the case, then call the police, I think I'm getting robbed! Consider the following quote from my CA
08 X5 36 mth term with 15 K Miles/year
MSRP of $57,270 (included prem pack)
Sale Price Agreed $51,290 (he's not forthcoming with the factory to dealer premium pack rebate, do you think this is included here?)
Residual 53% ( this looks correct)
Money Factor .00215 (WTF?, I initially though this would be .0016 with the owner loyalty disco, but then he re quoted with .00215 after I told him I'm an owner but not a current BMW FS customer)
Zero Down and no trade in ( no cap cost reduction to keep things simple! I'll negotiate that with him later)
Monthy Payment of $758/mth Plus 9% PA lease sales tax bringing the total monthly to $827/mth.
Some thing tells me this isn't right and that i can do much better.....your thoughts and comments/advise are appreciated.
Mister Mayor
I am having the same situation here, I know how you feel. I am driving a 2006 X5 4.4 fully loaded is almost up. Still 2 more months to go. I've been paying $710 per month includes nyc 8.375% sales tax. That was 3 years ago, the money factor was 0.00075 51% residual 15k per year.
Alway remember, try not to put a lot of money up front.
Only pay the 1st month and bank fee if they have to charge for. There was no bank fee when I picked up my x5 4.4 3 years ago. but they do now. Never understood ?
Here's the details for August 2008
2008 BMW X5 3.0 or 4.8
15K/ Year, 36Month Lease, The money factor is 0.00135, Residual Value for 15k is 55% NOT 53%. It sounds strange, but this is true.
Even the sales quote you a $758 includes sales tax, I think this is still too much.
I am not going to pay more than $710 per month not even with x5 3.0
I am hoping to see a 0.00075 money factor in September.
Good luck to you Mr. Mayor
SUV Man
This may be the case for you as a current BMWFS customer....given to you because you have an existing lease. I'm not getting that rate because I'm not a current BMWFS customer but even so, I should get the .002 MF! But the .00215 I'm being quoted is too hight I think, perhaps the dealer is marking this up in anticipation of having to lower the sale price to closer or below invoice?
On the residual for August I thought it was set at 53 for the 3.0. Perhaps Car man can clarify the MF and residual for August?
I'm going to be patient...and wait till the current offers expire....and see what they come up with for September...would be great if the MF dropped to .00075 but that is unlikely.
Sounds like the case here... though your dealer should have pointed that out..
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BMW Financial Services' current buy rate lease money factor for the X5 3.0 is .00200 with the payment of a security deposit at lease signing. If you opt to have your truck's security deposit waived, it would raise this factor by .00015, unless you are a returning BMW FS lessee which makes you eligible for a free security deposit waiver. Loyal BMW FS customers are also being given a special .00040 money factor reduction on leases of the '08 X5 right now.
You also can reduce your truck's money factor by making additional security deposits. BMW FS will reduce your vehicle's factor by .00007 for each additional deposit you make, up to a maximum of seven.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
What dealership did you use? I have been looking in NYC, Southampton, NY, Tenafly (no quote), and Bayside Queens. If I put down 5K and pay $ 816 per month, I wil have Sirius, heated front seats, Navigation, 3rd row, and Sports package....So far.
Premium pack, tech pack, 3rd row, ipod, rear climate, power trunk, running boards, 1 year sat radio, bmw assist.
Black on black, bamboo.
36 mo, 12k miles, $792 mo, $0 down payment.
MSRP $56,870 EDMUNDS INVOICE $52,290 "Dealer invoice" $52600 (I know it sounds weird but I saw the dealerspeed.net screen and that was the ammount it showed)
money factor .0020 residual 55% extra miles @ .16 during lease over milage @ .20 new BMW customer.
Got 6000 dolars of MSRP for a final sale price of $50870 ($1420 bellow invoice) tried to get the full $2590 premium pack credit bellow invoice but after dealing with 2 different sales man, a manager and waking out twice in 3 days I decided to take the deal. probably with more time to quote several dealers you might get it, in my case they didn't have to many cars with the features I needed or the color we liked, beware long wait at dealership just to talk to a salesman, dealer were not reponding e-mails.
Did I mentioned I also got floor mats, trunk linner and 2 nice dealer key chains! :shades:
Bought the tire protection plan in cash so I did not brake that $800 mo mental barrier if you want to add it to de deal is $21 more a month on 36 months or 649 + tax.
I saw new lease programs for sept, same residuals, same money factor no more premium pack incentive I think tomorrow is the last day to get it.
Hope this helps, the car is parked outside, cant wait to take drive it again tomorrow.
Thanks for all the people that posted their experience here, without it I wouldn't be able to get even close to this deal.
THANKS
3rd Row, Rear Climate, Sirius with 1 year, and the Sport, Tech, Premium, and Cold Weather packages, probably Ipod as a give me.. 3 years/ 10,000 miles. The only way to do better is to take out Sport it seems. Any color I want. FEEDBACK???????
keep in mind I got a 3.0 not a 4.8
You will likely have better luck getting feedback on the specific options that you mentioned over in the "BMW X5" or the "BMW X5 - 2008" discussions.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
X5 3.0 - Premium Pkg, Tech Pkg, Auto tailgate, rear climate, ipot, heated seats, running boards.
3 years 10k miles
MSRP $55,075
Selling: just over $49,000
residual 56%
MF .0016
D.O. - around $1850 with zero cap reduct (1st month pmt, bank fees, taxes)
Monthly $697
3 years/12,000 miles per year $4800 down/ $764.00 per month or $4600 down and $714 per month without Sport. MSRP on this X5 3.0 is $58,970.00. If I can get this one, I can be loyal in 3 years....
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Andrew
What are the current lease numbers for 12K miles, for 2 year/3 year....leases.
Thanks,
08 X5 3.0
only option, heated seats
msrp $47525
Net Cap Cost: $44500
MF: .0016 (returning loyalty rate)
Residual: .53
Monthly payment W/Ca 8.25% sales tax: $701.36
I used an Excel spreadsheet to run the numbers, does the monthly payment seem too high?
tidester, host
SUVs and Smart Shopper
article from wsj
Sales Slump in Luxury-Car Segment
And Auto Makers Offer Deals
Luxury Brands Shun 'Cash Back' Rebates,
Offer Cut-Rate Financing to Draw Buyers
September 8, 2008; Page D8
Here's something you don't see every day: Factory sponsored low interest rate financing deals on new BMWs. But they're out there now, because even luxury brands are getting bounced around by a choppy economy.
Several major luxury brands, including BMW, Tata Motors Ltd.'s Land Rover, Daimler AG's Mercedes-Benz, Toyota Motor Corp's Lexus, Nissan Motor Co.'s Infiniti are promoting discounted leases or other price cutting deals to spur sales. These brands tend to shy away from crude, mass-market come-ons such as direct cash rebates or "employee pricing" offers. But the deals are there waiting for customers who start bargaining. In August, 63% of luxury vehicle sales involved some kind of cut-rate financing, compared to 43% a year earlier, according to data from the Power Information Network (PIN), which harvests transaction data from dealerships.
The average cash rebate offered by luxury brands in August was $3,240, up from $2,624 a year ago, PIN's surveys found. But a few brands went above and beyond. Land Rover's British-made SUVs went off lots in August with an average $7,016 cash rebate tucked into the glove box, according to PIN data. Land Rover's deals outdid Cadillac and Lincoln – which have tended to discount more heavily than European and Japanese brands. General Motors Corp.'s Cadillac brand offered cash rebates averaging $4,105 dollars a vehicle last month, up from $2,758 a vehicle the year before, according to PIN.
JOIN THE DISCUSSION
Readers, over to you: Do you think more deals will boost sales of luxury vehicles?Join a discussion1.
Discounts in the luxury vehicle segment are seasonal and cyclical. They tend to be richest in the fall, when car makers launch their new models, and in the dead of winter -- December and January, according to data from Edmunds.com2, which tracks the ebb and flow of incentives. The cyclical part has to do with the auto makers' product timing. When important model lines get old, the discounts rise.
Minor ups and downs in the economy tend to have less impact on luxury car demand, because affluent consumers usually ride out those dips without much real damage to their financial profiles. But if the storm gets violent enough, even well-to-do people will rethink whether it's absolutely essential to trade in a perfectly good car.
That's happening now. The coinciding crunches in the real-estate market and in the finance industry apparently have prompted difficult discussions around kitchen tables even in homes with granite countertops.
Sales in the "lower luxury" car segment, which includes the BMW 3-Series, Acura TL, Infiniti G35 and Lexus ES and IS models, are down 10.3% for the year through Aug. 31, according to Autodata figures. That's almost five times worse than the 2.1% decline for passenger car sales overall. Total luxury car sales are down 14.2% for the first eight months of 2008. Luxury sport-utility vehicle sales are down nearly 18% for the year so far -- a decline that understates the accompanying impact on car makers' profits.
At BMW, the company's U.S. marketing arm has extended its low interest rate financing offers on 2008 models to the end of October, though the deals on certain models aren't as generous as in August. Still, if you qualify, you can get a 0.9% loan on a 335i sedan, or a free automatic transmission.
One of BMW's goals in promoting low-rate financing deals is to encourage more customers to buy, rather than lease, says BMW spokesman Jan Ehlen. BMW has tended to lease about 60% of its cars. Now, the company wants closer to a 50-50 ratio, Mr. Ehlen says.
Leasing has been causing heartburn across the car industry. Too many vehicles -- particularly leased sport-utility vehicles -- leased three years ago when gas was still relatively cheap and the economy was relatively strong are coming back to dealerships worth thousands less than the finance companies had bet when the deals were written. That's translated into huge losses for car makers' lending arms and for the banks and independent finance companies that underwrote leases in the past. Many financial institutions are pulling back from auto leasing, as part of a broader credit retrenchment.
Discounts for several major luxury brands may have peaked in July, when gas prices hit new highs and overall new vehicle demand plunged, says Jesse Toprak, executive director for industry analysis at Edmunds. Now, some of the deals are less generous, he says. But pressure will likely continue for the luxury makes, particularly when it comes to the lower ends of their model ranges. A lot of upper middle-class families stretched to buy $35,000 or $40,000 BMWs and Mercedes-Benz C-Class models when times were good.
Now, says Mr. Toprak, "they're thinking twice."
The current crop of luxury car promotions will dwindle as new models arrive this fall, many equipped with higher sticker prices. BMW has already signaled prices for its vehicles will rise an average of 2.1%. Most of the top-selling luxury brands aren't saddled with huge inventory overhangs. At the end of August, BMW had 30 days worth of unsold vehicles on dealer lots, Mercedes had 62 days' worth of unsold vehicles and Lexus 41 days' worth.
Audi has already largely sold off leftover 2008 A4 models, and dealers have only about a month's worth left, as they await delivery of redesigned A4s from Germany.
Luxury brand shoppers – particularly fans of European brands -- who are considering buying a new car in the next few months should probably book time to discuss options with dealers this month. Otherwise, it may be best to wait to see how the December year-end deals look.