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BMW X3 Lease Questions

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Comments

  • jasonmdbmwjasonmdbmw Member Posts: 117
    2014 X3 35i money factor is .00130 and 57% for 12,000 miles/yr
  • kyfdxkyfdx Moderator Posts: 234,725
    It varies, depending on your state. Where do you live?

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  • cscottmdcscottmd Member Posts: 3
    edited March 2013
    I'm looking at a 2013 X3 28i with technology, premium, premium sound, sports activity, xenon lights, and heated front seats. MSRP is $49,895 and invoice is $46,300.

    First dealer wasn't willing to go under $47k with .00145 MF and 3k cash down for $641/month. This also includes Maryland taxes which are on the total cap cost and account for about $75/month.

    I went to a second dealer and they are willing to beat the first and bring it down to $620/month. The finance manager hasn't given me their MF yet as she said she may play with the numbers for month-end targets (either adjusting sales price or MF to benefit sales or finance groups). Is $620/month a good deal given the steep taxes?

    Thanks!
    Chris
  • sean121780sean121780 Member Posts: 2
    This is NOT correct. This is for 2013. The production on 2014 has started, the rates are different. Unfortunately while trying to clear out the 2013 models, the MF are higher and residuals lower making for a worse off lease.
  • flightnurseflightnurse Member Posts: 2,217
    why has BMW started on 2014 so early has BMW done a major redo of the X3 ?
  • jasonmdbmwjasonmdbmw Member Posts: 117
    It is correct and I have the bulletin to prove it. And 2014 X3's start production on April 1st
  • flightnurseflightnurse Member Posts: 2,217
    Again, why has BMW started on the 2014 model so early, have they done a redo of the X3 already?
  • jasonmdbmwjasonmdbmw Member Posts: 117
    No they haven't done a redo of the X3 yet. I believe that is set for 2015 but not a full model change. This is just the way the X3 production is set up. The 2013's came out at this time last year
  • flightnurseflightnurse Member Posts: 2,217
    Are you sure this isn't a April fools joke?
  • kyfdxkyfdx Moderator Posts: 234,725
    Didn't they switch model years in April, 2012 because of the switchover to the turbo-4?

    You can see why they wouldn't want a model year to stretch longer than a year.... especially with a lot of leasing... Too much mileage variance between vehicles of the same model year... negatively affecting resale...

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  • jasonmdbmwjasonmdbmw Member Posts: 117
    Yes that's when the X3 28i got the turbo 4
  • cscottmdcscottmd Member Posts: 3
    Hi folks, any thoughts on this lease? I should have mentioned before this is for 10k miles and 36 months. Payment is $620/month which includes about $75/month for Maryland taxes (tax on total cap cost). MSRP is $49,895. Is this a reasonable deal? Thanks!
  • whatawavewhatawave Member Posts: 3
    In the process of leasing x3 28i for 36 month with 15000 miles.
    with the following packages

    Sport Activity Package

    Cold Weather Package

    Dynamic Handling Package

    Premium Package

    Premium Sound Package

    Technology Package

    rubber mats

    Total price of vehicle was 51 plus not including tax...my receipt doesn't state residual value.. tax or doc fees..it just list options and down payment/monthly payment....Salesman just started working there i guess.
    just 2700 total out of pocket...don't know exactly what this includes or what fees im paying.
    loyalty rebate of 750 goes to dealer i believe...that much i know coz of the promo

    599 monthly payments...

    I just gave them a list of options and they charge my credit card for 1000.00...it happen so fast that ..I didn't even get a chance to negotiate. I was hoping to get lower payments since im currently paying 559 a month on a 2010x3
  • jasonmdbmwjasonmdbmw Member Posts: 117
    I'd say that's a reasonable deal. Depending on what the final price is and if they work on the MF a little bit more, you could possibly get into the low $610's but I wouldn't stress to much over it
  • cscottmdcscottmd Member Posts: 3
    That does make me feel better. When comparing to other posts, $620 seemed very high, but I wasn't factoring in the MD cap cost sales tax. Thanks for the feedback. I'm getting my car at the end of the week and this puts my mind at ease.
  • laufuyanlaufuyan Member Posts: 2
    Just leased a 2013 X3 xDrive28i today...

    MSRP $38,500.00
    Space Gray Metallic $550.00
    Black Leatherette Included
    Roof rails in Aluminum Satin $250.00
    Navigation System $2,150.00
    BMW Asst w/enhanced BT & USB Included
    Real Time Traffic Information Included
    Destination Charge $895.00
    Total Suggested Retail Price $42,345.00

    Lease term: 36 months, 10000 miles per year

    Monthly payment: $406.89 + tax = $443.51

    Paid upfront:
    $750.00 (Capitalized Cost Reduction)
    + $443.51 (first month)
    + $345.00 (Initial License Fees)
    + $72.45 (Sales Tax)
    + $725.00 (Acquisition Fee)
    + $15.00 (Electronic Vehicle Reg or Transfer Charge)
    + $67.50 (Sales Tax on Capitalized Cost Reduction)
    + $80.00 (Document Processing Charge)
    + $7.00 (California Tire Fee)
    - $750.00 (Loyalty)
    ------------------------
    $1,755.46 Paid on delivery

    Did I do ok???
  • flightnurseflightnurse Member Posts: 2,217
    Yes you did, however, I would never lease a car with less then 12K a year....
  • laufuyanlaufuyan Member Posts: 2
    edited April 2013
    The 3 series that I returned to the dealer had approx 16k miles after driving it for 21.5 months (the lease was supposed to end in late September)... so 10K is enough for my usage...

    But if I do go over 30K miles (most likely not gonna happen) it's 20 cents a mile... which sounds pretty reasonable.
  • braketoolatebraketoolate Member Posts: 12
    I have been shopping for options, from 5 series to X3. Does anyone have info on the current residual value and money factor for x3 28i, 36 months lease?

    Thanks in advance!
  • chaozz1chaozz1 Member Posts: 49
    If you pre pay the miles before your last payment online.
    BMW will sell you miles at 16 cents.
  • jasonmdbmwjasonmdbmw Member Posts: 117
    MF is .00129 and RV is 57, 59, and 60% for 15, 12, and 10k miles/yr
  • lalombardlalombard Member Posts: 4
    Hey all - I need a reality check on some lease quotes I got yesterday at a BMW dealer here in Indiana. They seem a little high, but I'm also asking them to take my 2012 honda CRV (it's horrible in the snow and the honda dealer doesn't seem to think there's anything wrong), so maybe they're not being too generous. They payoff for the Honda is really close to the value, so it's likely the honda trade in will be a wash. Here's the X3 lease they're offering me:

    2013 X3 (this one is located at another dealership out of state)
    Red ext/ Sand beige interior
    Convenience package
    Cold Weather
    Premium
    Tech
    Satin Al roof rails
    Sat radio
    BMW apps
    MSRP $49445
    Discount of $1000
    They think it will be around $700 to get the X3 to the dealership
    0 down
    36 mo/12k lease
    7% state sales tax
    $750.26/month

    Other option 2014 X3
    Red/ Sand beige interior
    Cold weather
    Driver assist
    Lighting
    Premium
    Tech
    Sienna wood trim
    MSRP $50,695
    Discounted to $49,745
    36 mo/12k 0 down
    7% state sales tax
    $805.28/mo

    Seems a little high to me. anyone have any advice?

    Thanks in advance
  • flightnurseflightnurse Member Posts: 2,217
    what's the money factor they are using? Those payments seem high to me...
  • lalombardlalombard Member Posts: 4
    Went back to the dealership this evening to get the full appraisal of my honda - looks like by the time the 2014 would be in (one month) my buyoff would be around $500 above trade in, so that got rolled into the cost and I got a little more off the total to $49519.
    Rate is 0.00169 and residual is 59%, payments now down to $795. (includes taxes and such)
    What do folks think?
  • chaozz1chaozz1 Member Posts: 49
    If your willing to spend that much get a X5 diesel .with eco credits etc you can get almost 10k off MSRP
    you could actually be cheaper then that X3
  • flightnurseflightnurse Member Posts: 2,217
    They are getting you with the money factor, Since the top rated credit tier the money factor is much less then what you are being quoted. Personally, I would wait on getting a X3 if you can't not get the best rate, $800/m is a lot of money, when others on here have posted better monthly payment,
  • lalombardlalombard Member Posts: 4
    Thanks - that's what I was thinking. Unfortunately this dealership has a monopoly for most of the state so I don't think I can get the best deal around here. I have family who have recently bought a BMW in another state so I am having them check a deal with them for comparison. Thanks again!
  • flightnurseflightnurse Member Posts: 2,217
    If you can shave off $200+ a month off a lease, then it is a no brainier to go to another city and get your BMW. I would also let your BMW dealer know you have talked to another a BMW dealer and they can do the deal for XX and monthly payment for XX to see if they are willing to be realistic, if not, have yourself a nice drive home. BTW, then take your BMW to your local dealer for service....
  • lalombardlalombard Member Posts: 4
    Yup that's what the plan is - just waiting to hear from my out of state family member to see what deal he can get.

    Unfortunately the local place doesn't offer a loaner car unless you get the car from them - although I'd save enough money over a couple of months to pay for a car rental for the 1-2 times a year it comes in for service. Good news is that I'm in no rush here - I've still got my Honda, and although I don't like it, it serves my purposes for the time being at a much lower monthly price than the new X3 would be.
  • chaozz1chaozz1 Member Posts: 49
    i would email dealers with in couple hundred miles, even the web site ad special is better then what your getting
    http://www.bmwusa.com/standard/content/Vehicles/2013/X3/xDrive35i/OfferDetail.as- px?NAModelCode=13XE&OfferType=2&regiontypeid=2
  • sburgsburg Member Posts: 1
    Have you ever used a Broker? Try Swap-A-Lease - they have lots of Brokers listed and you can save considerably on those numbers you have..
  • ivanivanovichivanivanovich Member Posts: 2
    Hello folks,

    Got this one

    2014 X3 28i,
    Base price - 39,600
    Premium package (3,200)
    Heated front seats (500)
    Dest. / handling - 925

    total 44225, selling price 41800,
    12000 miles / year , 36 months
    cash on delivery - 4,594 (incl drive off, 1st payment)
    monthly payment - 476$. , before CA tax.

    Is it fair?

    Thanks,
  • flightnurseflightnurse Member Posts: 2,217
    Why so much down? $4500 is a lot, what is your money factor? On a lease, the goal is to put down the least amount as possible. This is not a good deal...

    Does the dealer have any 2013? I do not think there is much difference between a 2013 and 2014, you might be able to save some money..
  • ivanivanovichivanivanovich Member Posts: 2
    I know - trying to understand why it is so high. Got 2 offers with relatively high down payment...
  • fantasyduckfantasyduck Member Posts: 11
    I am new to leasing and I have found this forum very educational.

    What I would like help with, is the best sequence of actions to conduct a lease.

    I have read that you shouldn't even mention lease to the dealer until you have settled on a purchase price. Is this the best first step?

    Also what is negotiable other than price? Is MF or residual value negotiable or is this set by BMW?

    Finally I am interested in a X3 28i and they now have both 2013 and 2014. Which one would be best to lease, I assume the 2014 because it probably would have a higher residual value but not sure if this is correct?

    Thanks for your help
  • jasonmdbmwjasonmdbmw Member Posts: 117
    Price is the price whether you lease or finance it. You can negotiate the price of course but residual and MF are set by BMW, though dealers can mark it up to .00167 from the base .00127 as long as you qualify for that top tier rate.

    The 2014's actually have a 2% less residual than the 2013's right now and you could get a better price on the '13. Its up to you if the new navigation, packages, and higher price is worth it or not to get a '14
  • steevosteevo Member Posts: 389
    edited May 2013
    It seems strange to me that a 2014 could be 2% less residual than a 2013. Imagine a 2013 and a 2014 with exactly the same MSRP, fast forward to the year 2016, put 24000 miles on both cars, and then value the cars. The 2014 will NOT be valued at less than the 2013. NO WAY. Am I missing something?
    Are you sure you are not confusing the Money Factor being 2% higher?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi steevo. The reason that certain 2013 models have higher residual values than 2014 models right now is that BMW artificially inflates its vehicles' residual values to essentially hide support. Higher residual values enable them to offer lower lease payments. When BMW ramps up its lease support on the 2014 model its residual values will eventually be higher than the residuals on the 2013.

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  • fantasyduckfantasyduck Member Posts: 11
    Thanks Jason
    What is the actual residual % on the 2013 and 2014?

    Do you know what are the major differences between the 2013 X3 and 2014 x3?

    Thanks
  • steevosteevo Member Posts: 389
    Interesting, to say the least. Thanks for the explanation.
  • jasonmdbmwjasonmdbmw Member Posts: 117
    2013 residual is 57% and 55% for the '14 at 15k miles for 36 months. Add 2% for 12k miles and 3% for 10k.

    The base price went up $750 from making standard most of the equipment that was in the Premium Package. Only major difference is the 2014 has the new NBT Navigation and full black intstrument cluster. The NBT Nav is faster, more streamlined for the radio/media menu structure, improved menus, advanced real time traffic info, weather info in the navigation map, and message dictation. Also, is clearer and better picture. BMW also re-did some of the equipment in packages so that is different as well
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome steevo.

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  • flacrabbflacrabb Member Posts: 4
    Hi Car Man - Will you please provide the residual and MF for a 24 month, 12K mile/yr. lease on a BMW X3? Thanks in advance.
  • flightnurseflightnurse Member Posts: 2,217
    X28i or X35i?
  • flacrabbflacrabb Member Posts: 4
    28i
  • fantasyduckfantasyduck Member Posts: 11
    Hey All,

    Does the money factor change with the size of the down payment? In this forum I have learnt that best to have as low a down payment as possible.

    Thanks
  • jasonmdbmwjasonmdbmw Member Posts: 117
    No
  • fantasyduckfantasyduck Member Posts: 11
    What is the current MF and RV for 2014 x3 28i for 10K and 12K?

    Is it possible to get invoice for a 2014 this early in the model year?

    Thanks
  • jasonmdbmwjasonmdbmw Member Posts: 117
    .00127 base Mf and 58 and 57% RV. Of course its possible but it may take some work to try and it get that price
  • fantasyduckfantasyduck Member Posts: 11
    I need a quick answer because I am going to the dealer in the next 1 hr to finalize my lease. I guess to be conservative the dealer said MF of 0.00155.
    I believe between my wife and I, one of us has good credit.
    So is there a table of credit score to MF that I should be aware of?
    I want to be prepared if he says our credit won't qualify for 0.00127.
    Also can he deny me 0.00127 if I have good credit?

    Thanks
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