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BMW X3 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi georgiagirl13. The doc fee does look a little high. Most dealers charge one, but many charge less than that.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello maxlev. BMW Financial Services' January buy rate lease money factor and residual value for a 36-month lease of a 2013 X3 xDrive28i with 12,000 miles per year are .00130 and 59% for consumers who qualify for its top credit tier.

    I am not personally intimately familiar with what the market is like for the X3 right now. I do know that BMW had a huge December, sales-wise, and that some dealers are fairly light on inventory. That isn't helping selling prices any this month. If I was in the market for this vehicle, I personally would shoot for a selling price of say $1,000 over invoice and see what happens. You can find the exact invoice price of this model in the New Vehicle Pricing section of Edmunds.com.

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  • georgiagirl13georgiagirl13 Member Posts: 24
    Hi Car Man,

    Thanks for your reply. I asked the dealer the very same question regarding exactly where the $2200 goes. He replied that it is broken down into the first month payment, dealer fee, tag and title and the rest goes towards the cap cost reduction. Does that sound ok?

    Georgiagirl 13
  • okcloookcloo Member Posts: 11
    jc hills, no problem. The True Car invoice is probably correct, the Edmund's invoice price seems to leave out the MACO and training fees ($600).

    With 59% residual, those numbers look correct and fair. The only thing left to do is try to negotiate the acquisition fee down to $725 from $925, like some have done on this forum.. and try to negotiate the selling price of the car down to invoice or a few hundred under invoice. The savings from there can pay for 1/4 to 1/3 of your tire warranty should you get one!

    If you're ready to buy, the ball is in your court and they should have no problem selling to you at or little under invoice.

    See my post above regarding tire warranty. I paid $1100 for 3 years, which seems overpriced, but I'm worried about rim damage (due to poorly maintained streets in downtown LA) so would rather have peace of mind and get BMW's tire and rim warranty. If you only need tire warranty, Discount Tires quoted $395 to insure four 18" Pirelli P7 (V rating) Run Flats. Let me know how much you get your tire and rim warranty for. Thanks!
  • okcloookcloo Member Posts: 11
    I guess it depends on where you live, but I had 3 dealers around the Los Angeles area offer invoice on the X3. Also, Edmunds.com is leaving out the MACO and training fees in their invoice price, so you should add around $600 to get the true invoice price.
  • nyrg100nyrg100 Member Posts: 1
    Whean leasing a X3, what moneyfactor would be used when doing the single pay lease?
    Seems for the normal lease it is 0.00125 right now.
  • ken954ken954 Member Posts: 13
    edited January 2013
    Hi Car Man,

    Can you provide the latest residual and MF for a 2013 x3 35i for 36 months with 10K miles per year? I would qualify for the top credit tier, car will be titled in Florida but leased from a dealer in Illinois or Michigan.

    Appreciate your help!
  • ken954ken954 Member Posts: 13
    So I'm trying to finalize a deal after finally finding the vehicle I wanted with the right options, working to get the best possible price. I located a 2013 x3 35i optioned the way I'd want it, somewhat aggressively priced since it's a demo with 8000 miles. I need some advice on whether this offer from the dealer is really bad (I don't think it's great) and, if so, suggestions on how to best get the financials in line. Here's the deal:

    2013 x35i premium w/ sports appearance, tech, convenience, radio, and apps
    Demo vehicle, 8000 miles, in service 4/2012
    MSRP = $54,245
    Selling Price = $46,691
    Lease Term = 36 Months, 10,000 Miles / Year
    Money Factor = .00170 (I keep seeing .00125 - .00135 on here)
    Residual = 60% BUT salesman claims BMW will reduce the residual by $2,271 'because of miles on the vehicle'
    Payment = $651.25 (with zero capital reduction)

    Appreciate any suggestions - good deal / bad deal, best way to counteroffer? My math says that the payment should be more like $552 / month @ MF of .00125 and 60% residual, the $2,271 residual reduction is throwing me, not sure if that's reasonable.
  • okcloookcloo Member Posts: 11
    edited January 2013
    Ultimately, a good deal comes down to only 3 things, the selling price, money factor, and fees. The selling price you can negotiate; check the invoice on that car with those options and you should aim for invoice or lower. The MF is set by BMW finance, and it depends on your credit score, and with a score of 740 or higher, MF should be around .0013. Fees, they should be able to tell you upfront what the fees will be (check my previous posts for fees I paid). For your reference, I was quoted on a demo 2013 X5 diesel with around 12,000 miles for well below invoice. Just my 2 cents.
  • kyfdxkyfdx Moderator Posts: 236,681
    The residual reduction is $0.30/mi. for any miles over 500 (I think), so that looks right. Which should also give you a good idea of how big of a discount you should get compared to a new model. It should be more than that additional residual reduction.

    The maximum markup on the MF is .0004, so it looks like they are taking the max.. Most dealers that markup the money factor also bump the acq.fee the max as well ($925 vs $725)

    Best way to counteroffer? Tell them you won't pay a marked up MF, or no deal.. That alone will knock $32- $35 per month off..

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  • ltlladyltllady Member Posts: 27
    A tire warranty for $1,100? That seems like a lot of money for some insurance against potential, not factual, tire damage. As always such "warranties" are designed not to save the customer money but to provide profit for the dealer and warranty provider. Most consumer advocates seem to advise not to purchase such things.

    Experienceing "a nail every two years" seems very unusual. I don't think I have had more than three or four nails in thirty years. I have never destroyed a rim.

    In any case, on a three year lease that would mean one tire will be replaced. Certainly not worth $1,100 or more.

    The buyer would be better served to put the $1,100 in a savings account to cover any tire damage occuring during the lease. If no damage, the buyer, not the warranty company, will have the $1,100 at the end of the lease.
  • ltlladyltllady Member Posts: 27
    With the numbers you listed, the monthly lease payment computes to about $472 not $499. Adding an aquisition fee of about $900 to the sale price of $40,190 gets you to $499.
  • billy3554billy3554 Member Posts: 148
    I always find it interesting people are so willing to spend thousands of dollars for protection against the possibility of future events that, statistically, will not occur. Warranties, such as a warranty against future tire damage, are designed by people fully versed in statistics and set up in such a way to assure significant profit is made.

    Making the matter even worse, from a consumer prospective, is the profit is exagerated since both the warranty provider and dealer have their hands in the money pool pulling out profit. It is never a benefit to the consumer to become involved in a monetary exchange involving muliple levels of profit.

    Spending well over a thousand dollars for tire protection on a lease of three years does not appear prudent.
  • karhill1karhill1 Member Posts: 165
    I read Edmunds forums on a regular basis as they often contain valuable information along with some amusing comments. I do find it interesting that so many people seem to accept two items presented in a dealer's F&I office as necessary products/fees when they are really overpriced, useless, or false.

    One is warranties of any kind. Seems every year the F&I people come up with a new warranty to make money. Five years ago, I bought my daughter a new car. The F&I guy pitched the tire protection product for $500. To intice me to buy, he told me about his daughter who had the same vehicle had replaced the tire and rim twice in three years. I suggested his daughter was obviously not a very good driver. Well here we are five years later and my daughter has not damaged a single tire or rim and I, not the dealer, have the $500.

    Another is the dealer documentation fee. Dealers in some places, like Florida, charge hundreds of dollars for this "fee." Any cost of preparing documents for the sale of a vehicle is minor and is covered by the dealer's overhead which is included in the selling price. This is basic cost accounting.

    Most of the document preparation is done in the F&I office while the customer sits across the table from the dealer's best sales person. Of course the only reason the customer must sit with the F&I person is so the F&I person can have an opportunity to increase the dealer's profit on the back end of the deal.
  • sk_websk_web Member Posts: 5
    x3 28i - premium pkg, tech pkg, roof rails, comfort keyless entry, 36 month/10K year.

    3000 total drive off including 1st month payment, taxes etc.

    MSRP: 47,695
    Residual value: 27,992
    Lease factor: 0.00125

    lease payment: $499 + tax per month

    good deal?
  • ken954ken954 Member Posts: 13
    Thanks so much kyfdx - dealer isn't budging much so far, but that info gives me a bit more ammunition. I've been back and forth between new and demo, sport appearance and m-sport - and not a lot of inventory in my area. Appreciate your help.
  • kyfdxkyfdx Moderator Posts: 236,681
    Some (most?) BMW dealers will always mark-up the MF and won't budge.. If that is the case, you have to inject some real competition into the equation. And, be willing to go elsewhere..

    Your local dealer has to believe you'll go to another dealer, and even then, you might have to actually do it...

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  • flightnurseflightnurse Member Posts: 2,217
    Ken, something else you need to know is, if you want a certain model and it is a high demand model dealers aren't willing to deal on them. Give you an example, 328ix aren't not in high demands in SoCal, one can get a good deal on them, however, if you want a X3 and live in Northeast in the middle of winter, you might have a hard time getting the deal you want on it. Just keep this in the back of your mind...
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome georgiagirl13. There's nothing wrong with paying the first month payment, dealer fee, tag and title at lease signing, but you really should avoid making any sort of capitalized cost reduction on a lease.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello ken954. BMW Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2013 X3 35i with 10,000 miles pr year are .00130 and 60% for consumers who qualify for its top credit tiers.

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  • wpattisonwpattison Member Posts: 1
    Car_man,

    What would the residual and money factor change to for a 15,000 mile on a 2013 X3 35i?

    TIA,
    WP
  • sk_websk_web Member Posts: 5
    I posted couple of posts asking for help and never got any response. Probably I should change my screen name to georgiagirl or calgirl or something.

    thanks so much guys for all the help you provided. so long.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi WP. The money factor for a lease with 15,000 miles per year would be the same, but the residual value would be 3% lower than it would be for a lease with 10,000 miles per year.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited February 2013
    Hi sk_web. I'm sorry that you never got a reply to your post. The Edmunds.com forums are a community of car shoppers and car lovers who talk with and help others. I answer as many questions that I can for community members, starting with the ones that are specifically addressed to me. It doesn't have anything to do whether they were posted by a boy or a girl :).

    More often than not a fellow shopper or owner will chime in with an answer to a politely worded question, though the higher volume vehicles and discussions certainly have more discussion than the lower volume ones like the X3.

    Do you still need assistance on a deal? Your original message is only from a couple of days ago. If so, I'd be happy to help you our.

    Thanks and have a great weekend.

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  • ncluvluxcarsncluvluxcars Member Posts: 4
    I am interested in leasing a new vehicle for 36 months (maybe 39 mo.) and 15k or 12k a year. I am flexible if the numbers are much better on one vs. another. What is the money factor, residual and any lease deals for these vehicles? Which one would lead me to a better deal?

    BMW x1 sDrive28i with Tech, Premium and Driver Assistance Package.
    BMW X3 xDrive28i with Tech, Premium and Cold Weather Package.

    Do you have the numbers for an Infiniti FX37 with Premium package also? I am not sure which is the "better" deal for what you get. Any thoughts? Thank you!
  • pichapie1pichapie1 Member Posts: 6
    Here's what my dealership offered:

    2013 X3 xDrive28i with Cold weather package, Navigation and moonroof
    MSRP: $45,595
    Selling Price: $42,554
    Capped Fees: $1,557
    Total Taxes: $1,398.48
    Total Cap Reduction: $3,165
    Adjusted Cap cost: $42,345
    Customer Cash: $3,684
    Base Monthly Lease: $519 (including tax)
  • pichapie1pichapie1 Member Posts: 6
    I forgot to add, this is for 12K.

    I need your feedback if this is a good deal or not.
  • chaozz1chaozz1 Member Posts: 49
    web site shows similar car for less
    http://www.bmwusa.com/standard/content/Vehicles/2013/X3/xDrive28i/OfferDetail.as- px?NAModelCode=13XD&OfferType=2&regiontypeid=2

    search the pages of this thread you will see what others are paying.
  • flightnurseflightnurse Member Posts: 2,217
    As someone posted the "standard" lease special that BMW has for the X32.8 is a much better deal with more equipment for same down and a much lower monthly payment.

    Have you gone to trurcar.com and see what prices people have paid for the same X3 in your area? Truecar price in my area Phoenix, is $41,808 the same model, What money factor is the dealership charging you? what is the residual they quoted you?

    I would print off the BMW own special for the X3 and bring it to the dealership and ask they need to meet that special or you are walking.
  • pichapie1pichapie1 Member Posts: 6
    They're using MF = 0.013 and Residual is 59%.
  • pichapie1pichapie1 Member Posts: 6
    edited February 2013
    I checked that as well but mine had the navigation and its 12K instead of 10K.
  • bestdeal42bestdeal42 Member Posts: 9
    That can't be right 0.013 is too high, it is equivalent to interest rate of over 30% !! Are you sure it is not 0.0013?
  • ncluvluxcarsncluvluxcars Member Posts: 4
    Is the money factor and residual the same between the 35i and 28i? 57% and .00130?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ncluvluxcars. BMW Financial Services' buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 sDrive28i with 15,000 miles per year are .00130 and 57% for consumers who qualify for its top credit tiers.

    The numbers for an otherwise identical lease of a 2013 X3 xDrive28i with 15,000 miles per year are .00130 and 57%.

    If you were to lease with only 12,000 miles per year, these vehicles' residual values would be 2% higher.

    The numbers for a similar lease of a '13 FX37 AWD are .00071 and 55%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ncluvluxcars. Yes, the money factors and residual values for both trim levels are exactly the same, .00130 and 57%.

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  • tu71586tu71586 Member Posts: 1
    I'm looking at a deal on 2013 X328i with premium pkg, tech pkg, cold weather pkg, convenience pkg, and satellite radio. This is what I'm quoted:

    MSRP $49195
    Selling price $47190
    MF 0.00130
    Residual 60%
    10k miles/ 36 mo. lease.

    I'm being quoted a monthly payment of $735/mo (per salesperson, sales tax is rolled into this quote). My tax rate is 8.25% When I put numbers into a lease calculator, I don't get anywhere near $735/mo. Am I off base thinking that I'm not being told about a boatload of fees?

    Any help is much appreciated!
  • okcloookcloo Member Posts: 11
    They should be able to tell you the fees upfront, if not go to another dealer. I'm in Southern California and got the same car you were quoted on, minus convenience, at $400 below invoice, monthly payment of $600, paid 1st month + $1500 in fees to drive away. Hope that helps.
  • flightnurseflightnurse Member Posts: 2,217
    Find another dealer that is way too high even with Tax included, for that price you should be driving a X5.
  • gsreddygsreddy Member Posts: 3
    MSRP: $45,245
    Sale Price: $42,575 ($400 over invoice)
    Sales Tax: 0% as there is no sales tax in OR
    36 months 3000 down 10k per year is 521 per mo
    Residual Value: 57%
    Money Factory: .00150
    Adj cap cost 41382

    Is this calculation correct? I need to confirm tomorrow morning, so please advise.
  • chaozz1chaozz1 Member Posts: 49
    to high
    look at web site its cheaper and better car.
    this is not even with working a deal.
    msrp is $48,295.00.
    http://www.bmwusa.com/standard/content/Vehicles/2013/X3/xDrive35i/OfferDetail.as- px?NAModelCode=13XE&OfferType=2&regiontypeid=2

    $499 First months payment
    • $3,000 Down payment
    • $0 Security Deposit
    • $725 Acquisition fee
    • $4,224 Cash due at signing

    even if you did 3k only down on this car your payment would be about $530..that dealer your working with is taking you to the cleaners
  • gsreddygsreddy Member Posts: 3
    Thank you for your response. what is the best leasing price for this car?

    this is what the dealer response was today evening. he was just trying to put pressure on me so that I can commit and finalize the deal.

    57% or 58% .00150 adj cap cost 41382. Yes we are using a total of 3000 down. So the 1000 already received and an additional 2000. Please let me know if you have any issue asap so that we can reallocate this vehicle if necessary.
  • gsreddygsreddy Member Posts: 3
    this is what I see for X3, similar to the configuration I had chosen.

    • $459 First months payment
    • $2,750 Down payment
    • $0 Security Deposit
    • $725 Acquisition fee
    • $3,934 Cash due at signing

    http://www.bmwusa.com/standard/content/Vehicles/2013/X3/xDrive28i/OfferDetail.as- px?NAModelCode=13XD&OfferType=2&regiontypeid=2
  • chaozz1chaozz1 Member Posts: 49
    I would search this thread and keep going back to see what others got..

    second email 5 dealers in your area, requesting lease prices on cars they have in stock.

    Some dealers like they one your dealing with just won't budge..Move on.
  • ams_7ams_7 Member Posts: 10
    I am wondering if the lease offer I was quoted us a good deal:

    Car Msrp is 41,650 (pretty basic options)
    3,000 down including first month payment.
    12000 miles per year
    $488 a month with taxes.

    What do you guys think?
  • ams_7ams_7 Member Posts: 10
    It is a 2013 x3 by the way. And I am getting out early from my current BMW lease which ends in September.
  • chaozz1chaozz1 Member Posts: 49
    to high
    look at web site its cheaper and better car.
    this is not even with working a deal.
    msrp is $48,295.00.
    http://www.bmwusa.com/standard/content/Vehicles/2013/X3/xDrive35i/OfferDetail.as- - px?NAModelCode=13XE&OfferType=2&regiontypeid=2

    $499 First months payment
    • $3,000 Down payment
    • $0 Security Deposit
    • $725 Acquisition fee
    • $4,224 Cash due at signing

    even if you did 3k only down on this car your payment would be about $530..that dealer your working with is taking you to the cleaners
  • ams_7ams_7 Member Posts: 10
    Ok, this is the latest offer I have:

    MSRP $42650 -- weather package, rails, moonroof, bmw assist and bluetooth.
    $3000 Down, which includes first Month Payment
    15,000 miles a year
    $465 a month.

    What do you think?
  • chaozz1chaozz1 Member Posts: 49
    to high you only need 12k miles you can buy more if you run out at 16 cents a mile.

    this car featured online..ask then what deal on this car
    msrp is $48,295.00.
    http://www.bmwusa.com/standard/content/Vehicles/2013/X3/xDrive35i/OfferDetail.as- - - px?NAModelCode=13XE&OfferType=2&regiontypeid=2

    $499 First months payment
    • $3,000 Down payment
    • $0 Security Deposit
    • $725 Acquisition fee
    • $4,224 Cash due at signing
  • burundukburunduk Member Posts: 12
    Hi,

    What is March money factor and residual for 2014 X3 35i 12000 a year 36 month lease.

    Thank you,
    Alex.
  • sufansufan Member Posts: 10
    When calculating the sales tax on a lease deal is that based on the MSRP, the selling price, or the total number of lease payments?

    Thanks.
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