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BMW X3 Lease Questions

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  • jpres11jpres11 Member Posts: 3
    Carman, Is this a decent deal?

    2006 X3
    MSRP- 40,370
    Premium package w/ Heated front seats & wheel, Privacy glass, Sattellite ready,

    Asking price- 38,735
    36 months
    15 miles
    MF-.00205
    Res- 65%

    Out of pocket about 1,300- (500 cash and the 800 differnce from what I owe on my trade in and what they are offering)
    Aqu fee- 725
    9% sales tax for PA.

    Per month w/ tax 516..
  • jeffaljeffal Member Posts: 28
    Carman,

    I just received this offer from an Illinois dealer on a Lease for a 2006 X3. Please let me know if you think it's a great deal or not.

    MSRP: $42,170.....(Dealer claims the selling price comes out to about $500 over invoice, but he did not give me the exact selling price)

    TERMS: 36 months, 10K miles/year
    Lease Quote: $570 per month (this quote includes IL tax)

    TOTAL DUE at SIGNING: $1,395 (This includes $600 security deposit, first payment, a Doc Fee of 57.33 and new plates for 168.00)

    Thanks for reading.
  • suniljssuniljs Member Posts: 2
    hello carman / kyfdx,

    Cld you pls advise on what I need to know and what should be a good deal on leasing a X3 here in West Hollowood?
    I have just move from Singapore and am uncertain as to the leasing conditions here.

    Many tks.
  • mbright1mbright1 Member Posts: 2
    Hi Carman / kyfdx,

    I am a newbie to leases and luxury cars. I have not signed any deals or paid any money down yet. I have an offer from the only bmw dealership in town that I would like to run by you.

    Silver X3 Non-premium package (basic model, leatherette seats, etc)

    MSRP: 38,884
    Sale price: 37,384
    Destination charge: 695
    acquisition fee: 825 (I already know that should be 625), 12K mi/mo
    MF: .00235 or 5.65%
    24 mo
    $417 mo payment
    $2500 cash down
    $4251 due at delivery

    Can I get them to come down another $1000 on the price? They say they are taking a thousand five hundred off now.
    For a non premium package it seems high.
    Is this a good enough factor?
    Please advise ASAP. I Appreciate any help. Mbright1
  • mbright1mbright1 Member Posts: 2
  • santainboxsantainbox Member Posts: 2
    I recently test drove a BMW X3, inquired to lease a 2007. With excellent credit, this was our offer: MSRP $41,920, my purchase price $40,355, 36mths 12k miles (I want 15k), Money Factor .00305, Residual 67% or $28,086, down payment
    $3013.97, payment $549.54 + $43.69 = $593.23 monthly payment. The MF seems pretty high compared to what I've seen. The down payment too? Looking for advice, I could put down $1000 more and have a payment a bit higher to buy the car. I'm still test driving others, RX 350, RDX, but I really like the X3.
    Please Help us!
  • ashguy22ashguy22 Member Posts: 4
    Hi,
    You have a few areas to improve your quote:
    - Negotiated Price: You have $40355, some dealers are willing to knock close to $2000 off MSRP
    - Money Factor: On 2007 X3, you can get 0.00265
    - Any extra fees in your quote ($625 Acquisition is ok)?

    Rest everything looks OK. Good luck!
    Ash
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jpres11. I believe that the dealer invoice price of the truck that you described is around $36,985. The selling price that you were quoted is $1,750 over dealer invoice. I don't know what the market is like for this truck in your specific area, but if I was in the market for one I personally would shoot for a little larger discount now that the 2007 models have begun to arrive at dealers. Make sure to stop by the following discussion to see how much other community members have paid for similar trucks lately: "BMW X3: Prices Paid & Buying Experience". Also, make sure that the dealer that you are working with uses BMW Financial Services' buy rate lease money factor of .00195 to calculate your truck's monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello jeffal. $500 over dealer invoice is a very good price for this truck. Just make sure to get its actual price so that you can verify that this is the price that you are actually being charged before signing on the dotted line. Also, make sure that the dealer you are working with is using BMW Financial Services' current buy rate lease money factor of .00195 to calculate your truck's monthly payment and you are in business.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome suniljs. You definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. These articles contain all of the information that you will ever need to know to get a good deal on a leased vehicle.

    The two most important numbers to focus on when leasing a new vehicle are its selling price and money factor. These are the two main areas of leases that dealers make money on. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around and negotiate as low a selling price as you can on the X3 that you want and then have the dealer that gives you that price calculate its monthly payment using BMW Financial Services' buy rate money factor of .00195.

    This about sums it up, but let me know if you have any other questions.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings mbright1. For a newbie to the world of leasing, you did a great job at finding out all of the important information about the truck that you are interested in leasing. First let's take a look at the selling price that you were quoted. A base 2006 BMW X3 has a spread of a little over $3,100 between its full MSRP and dealer invoice price. You were quoted a discount of $1,500 on the specific model that you are considering leasing. I personally would want a little larger discount on a leftover 2006 X3 this late in the model year, but I suspect that the level of competition is not nearly as high in Oklahoma City as it is in my neck of the woods. If there are any other BMW dealers around you can always see if you can negotiate a slightly larger discount. If you can't, at least try to get the dealer that you are working with to eliminate the acquisition fee mark-up and to use BMW Financial Services' buy rate lease money factor of .00195 to calculate your X3's monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi santainbox. Ash gave you great advice. The only thing that I'd add to it is that BMW made a fairly significant enhancement to the 2007 X3's lease program for the month of October. It's new buy rate lease money factor is .00200. Make sure that you get the dealer that you are working with to use this factor to calculate your truck's lease payment.

    Car_man
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  • billmvbillmv Member Posts: 148
    hello Car_man

    Kdfyx just said on the other forum that the 36/15k residuals for the '06 and '07 X3 were virtually identical. 65%. For purposes of clarification, could you confirm for me what the RVs are for the '07 for 36/12k and 36/15k? The usual 2% higher for 12k? Gotta run my numbers!

    Acq fee still $625 on the 07s? Also, do you know what BMW's typical disposition fee is at the end of their leases, if any? I've never leased a BMW before.

    Thanks!
  • cknodlecknodle Member Posts: 4
    I just got back from the BMW dealership. I didn't ask questions other than this is the car I want and I would like to know what it will cost for leasing. I did not negotiate at all. It is a 2007 X3 with CW, Premium, Sport...MSRP is 38K with add-ons it is 46.5K
    Wanted 24 and 36 month numbers
    Deal:
    1.6K down
    24 month at 15K miles = 843 to 854
    36 month at 15K miles = 751 to 769

    I know not asking the right questions or negotiating is the wrong approach, but I was just curious to see the results. After looking at some of the deals on this site, these numbers seem outrageous...am I right or wrong? I have since asked for the money factor and residual that they are using to calculate this payment and whether or not it includes all additional fees/taxes.
  • cknodlecknodle Member Posts: 4
    Additional Information...I asked for residual/money factor...along with X5 information with same options....

    Reply from dealer:
    I put together some numbers on the X5 3.0 for you. The best lease on the X5 is for 36 months.

    36 months 15,000 miles per year:

    $850.00 per month with $1,600.00 down at signing. The residual is 56% and the rate factor is .00240. The rate is better on this one than on the 2007 X3.

    The rate on that one 65% for 36 months, with the rate factor being .00255. The X5 list for $51,118.00, so it is a few thousand more than the X3.

    CKnodle
  • billmvbillmv Member Posts: 148
    cknodle.....You serious about getting one? If you are, and if you enjoy running your own numbers to see what's possible, then you have to negotiate the selling price, which, when you add in the acquisition fee, will become your capitalized cost. Be aware, the dealer will try to jack up the acq fee and the money factor to make hidden profit.

    Remember too, that any down payment is just $$ up front rather than put into a payment.

    So let us know what they say on this go around.
  • jxtaijxtai Member Posts: 9
    Just got this from my dealer,MSRP $44,705 for premium package, sport package,added rear door airbags, automatic and metallic paint. Got it for $42,705 for sell price. With 78% residual and 0.002 money factor for 24 months. I got it for $510 per month(tax included). No money down. How is this number? Good?
  • kyfdxkyfdx Moderator Posts: 235,199
    Looks really good.. How much due at signing?

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  • jxtaijxtai Member Posts: 9
    $1503.73 due at signing which include first month, plate and bank fee.
  • kyfdxkyfdx Moderator Posts: 235,199
    $2K off MSRP this early in the year is very good... base money factor also... and a very good lease program from BMWFS....

    What's not to like? :)

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  • jxtaijxtai Member Posts: 9
    I think so too.. for 24 months and the 36 months at the same money factor, it is amazing. For $2.00 extra per month on the 24 months, I rather take the 24 months. I am ordering it right now. :P
  • billmvbillmv Member Posts: 148
    jxtai.....very sweet deal. What city and dealer? i'm going to be right behind you if it's a CA dealer.
  • jxtaijxtai Member Posts: 9
    Sorry, is in NJ.
  • billmvbillmv Member Posts: 148
    Bummer. BTW, was that 24 mo. residual for a 12k or 15k lease?
  • kyfdxkyfdx Moderator Posts: 235,199
    10K

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  • bimmerfan58bimmerfan58 Member Posts: 2
    About to lock in the following '07 X3 lease:

    MSRP= 44,500
    Price = 42,100
    24 mos/10k miles
    3K down/acq. cost of 825
    Payment = 323/mo.(plus 5% Mass tax)=339/mo.

    This seems like a very good deal-is it?????? :confuse:

    btw: car is base X3 with premium pack plus heated ft. seats and wheel w/metallic pt.

    Not sure about the money factor-looks like it needs to be .00075 using a residual of 78%-is this possible?

    What am I missing here?

    Supposed to sign today-thanks for any help!
  • yhmhyhmh Member Posts: 2
    Can I have the dealership name? I'm in NJ too and gonna lease an X3 soon and really appreciate if you could tell more details such as options and add-ons. Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I sure can, billmv. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 X3 with 15,000 miles per year are .00200 and 65%, respectively. Yes, if you were to lease this truck with only 12,000 miles per year as usual, its residual value would be 2% higher. BMW FS' acquisition fee is still $625 as well. I believe that BMW FS charges a disposition fee of $350.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cknodle. The payments that you were quoted sound a little high to me. I would be happy to give you a more detailed analysis of this deal if you provide me with this truck's MSRP and selling price. These are very important numbers for you as a consumer to know. They show you how much of a discount you are bring given and when combined with BMW's actual lease program they enable you to estimate what your vehicle's monthly payment should be. Find out what these numbers are and I'll let you know what I think.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey CKnodle. The money factor that you were quoted to lease this X5 is way too high. BMW Financial Services' current buy rate lease money factor for a 36 month lease of a 2006 X5 3.0 is only .00185 with the payment of a security deposit at lease signing and .00200 with the deposit waived. When negotiating your lease on an '06 X5 3.0, make sure to take the $2,500 dealer cash that BMW is providing on it into account. This cash will help you to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi bimmerfan58. The selling price that you were quoted for this truck looks reasonable to me. You can always stop by the following discussion to see how much other community members paid for similar vehicles though: "BMW X3: Prices Paid & Buying Experience".

    You need to make sure that the dealer you are working with uses BMW Financial Services' buy rate lease money factor to calculate this truck's monthly payment. Its current buy rate for a 24 month lease of a 2007 X3 is .00200. Also, this dealer is trying to mark BMW FS acquisition fee up to add additional hidden profit to your deal. BMW FS' current base acquisition fee is only $625.

    Car_man
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  • billmvbillmv Member Posts: 148
    Thanks, Car Man. Couldn't get to enough SF Bay Area dealers by end of business today to get in on the October programs, so it looks like I'll be doing something on an '07 X3 or an '06 X5 3.0 soon. Got it narrowed down to those two. If you could let us know what the November programs are for them I'm sure many of us would appreciate it.

    By the way, thanks for all your good work on these forums. kyfdx too.
  • mishka7368mishka7368 Member Posts: 4
    Please advise, is it good good numbers compare with current deals for 2006 x3 lease:

    A 36 month lease with 15,000 miles a year is $465 a month with $2161.00 total due at signing, incl taxes for 2006 X3-3.0i in silver with Letherette. Options include the automatic transmission, heated steering wheel, heated front seats, satellite radio prep, privacy glass. The MSRP on this car is $39045.00

    OR

    $479 monthly, with $2145 total due at signing. This includes all taxes and motor vehicle fees for 2006 X3 equipped with the automatic transmission, premium package, satellite radio preparation, and privacy glass.
  • gokhangulecgokhangulec Member Posts: 23
    2007 BMW X3 Wagon 3.0si 4WD

    24 mo/15k mi – Residual Value 75% of MSRP – .00150 Base Money Factor Rate
    36 mo/15k mi – Residual Value 65% of MSRP – .00150 Base Money Factor Rate
    48 mo/15k mi – Residual Value 41% of MSRP – .00322 Base Money Factor Rate
    60 mo/15k mi – Residual Value 33% of MSRP – .00322 Base Money Factor Rate
  • timmbojtimmboj Member Posts: 123
    What is a Disposition Fee?
  • oc24oc24 Member Posts: 7
    Does anyone have the current money factor from BMWFS for 24 and 36 months at 12K miles/year? Thanks for any guidance! oc24
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the latest program info, [billmv. BMW Financial Services' November buy rate lease money factor and residual value for a 36 month lease of a 2007 X3 with 15,000 miles per year are .00150 and 65%, respectively. As you can see, you actually came out ahead by waiting to get your new truck. The numbers for an otherwise identical lease of a 2006 BMW X5 3.0 are .00185 and 56%, respectively. This program is not as attractive as the '07 X3's is, but BMW is providing $2,500 dealer cash on the '06 X5 3.0. If you decide that you want one, make sure to take this cash into account when negotiating its capitalized cost.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mishka7368. You never mentioned the selling price of the X3 that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what the selling price is.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings timmboj. A disposition fee is a charge that banks charge consumers when they return their leased vehicle. I believe that BMW Financial Services charges a $350 disposition fee. This means that if you lease a BMW through BMW FS, you will have to pay a $350 charge when you return it. Most banks, I believe including BMW FS, waive their disposition fees for consumers who lease another vehicle through them when they return their old one.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the info that you're looking for, oc24. BMW Financial Services' current buy rate lease money factor and residual value for a 24 month lease of a 2007 X3 with 12,000 miles per year are .00150 and 77%, respectively. The numbers for an otherwise identical 36 month lease are .00150 and 67%.

    Car_man
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  • jrynnjrynn Member Posts: 162
    2007 BMW X3 Wagon 3.0si 4WD

    24 mo/15k mi – Residual Value 75% of MSRP – .00150 Base Money Factor Rate
    36 mo/15k mi – Residual Value 65% of MSRP – .00150 Base Money Factor Rate
    48 mo/15k mi – Residual Value 41% of MSRP – .00322 Base Money Factor Rate
    60 mo/15k mi – Residual Value 33% of MSRP – .00322 Base Money Factor Rate


    Something seems screwy with the drop-off in value between 36/48 months. At 21%, it's nearly as high as the initial TWO years (25%). Especially when it's followed up with an 8% drop-off the following year.
  • walker_brandywalker_brandy Member Posts: 3
    Car Man,

    I am about to lease a 2007 X3 tomorrow and need to know if the follwing is a good deal:

    MSRP $43,120.00 Lease Price $42,047.50, 36 mo., Money factor being used (.00190) 10k miles/yr
    Prem. and Cold Package, Metallic Blue, Privacy Glass, Heated Steering Wheel.
    Lease Payment per month $487.00
    Down payment $4,000.00 through trade-in

    Thanks for your help!
  • izmirianizmirian Member Posts: 49
    Guys,

    I'm in VA and just got a price from the dealer. The car has premium, sports and navigation + heated seats. MSRP is $45955. Selling price is $43600. 24 Mos lease is 499 with taxes and fees and first months down payment. I'm shooting for 449$ per month with the same down. They want to charge .00175 MR but I didn't accept. They wanted to charge .002 at first. I don't understand. That's too much mark up. I've been shopping for 07 MDXs as well but they can't even come close to X3s figures with the same sticker price. Anyways, I'll continue shopping till they offer what I'm asking for.
  • darthwohldarthwohl Member Posts: 10
    could you clarify your down money on the lease you are negotiating?
  • izmirianizmirian Member Posts: 49
    so tax rate should be 3%. I'm not sure about the fees but I think there is a security deposit and some fees associated with DMV. So looking to put down 2250 for all that. I didn't get the breakdown yet but I'm not paying anything towards capitalized cost. (At least that's what I'm shooting for)
  • vizviz Member Posts: 75
    Dealer quoted the following: Looking at other posts here, mine seems too high.

    Options- heated seats only

    msrp - 39195
    Selling -37610
    Money fact -.002
    Residual - 28496
    18,000 miles /yr ; 24 months
    585/month, including tax. Zero down.

    What should be the Money factor, residual values for 18,000 miles /yr ; 24 months

    Thanks,
    Viz
  • jxtaijxtai Member Posts: 9
    Anyone know the newest money factor and residual values for 24 months/10,000 miles? :blush:

    Thanks
  • chaselachasela Member Posts: 3
    Greetings,

    I'm planning to lease a 2007 X3 in the near future and am hoping to get $5,000 on my trade-in. I would appreciate your advice on what specific costs, in addition to the 1st month's payment, I could deduct from the $5,000 trade-in towards the lease and then have the dealer cut me a check for the balance? I do not wish to make a down payment.

    Also, I have excellent credit so is it possible that I won't have to pay a security deposit? If so, could I negotiate a lower money factor by offering one?

    Thanks for your thoughts.
    ~Chase
  • walker_brandywalker_brandy Member Posts: 3
    What type of car are you trading in? I got them to a money factor of (.00160) on a 36 month lease and they waived the security deposit.
  • darthwohldarthwohl Member Posts: 10
    Hi all......i am working on the following deal:

    2007 x3 w/ performance pkg, cold weather pkg, park distance control, xenon lights, heated front seats, metallic paint, privacy glass, heated stearing wheel, nevada leather uphostery.

    msrp 43, 920 vehicle cost 40, 520 I believe i am getting the car for 41,232.

    lease deal: 455/mo including tax, 2400 down which is 1664 is cap reduction, plus first mo payment and 280 in other fees.

    what does everyone think? This seems like a great deal, compared to others that i have seen.
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