Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
Options
BMW X3 Lease Questions
This discussion has been closed.
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
Lease would be for 36 month with 10k miles.
what is the May residual value and MF?
Thanks,
Hugo
36 month - 15k/year leases use a residual value of 0.65
Can someone let me know the residual value for high mileage leases? (such as 16k, 17k, 18k, and 20k)?
Thanks
MSRP: $47,660
Purchase Price: $45,917.00
36mnths 10k miles
MF: .00255 (given by local dealer)
Residual: 68% (given by local dealer)
Trade-in: $8,500
WV sales tax: 5%
Acquisition: $795 (given by local dealer)
Security Deposit: $400 (given by local dealer)
With the edmunds calculator, my monthly payment would be $381.11, if I did it correctly. Are these good numbers, talk them down lower, or just wait cause this isn't a good time for an X3 lease? Being female, I'm just worried about getting ripped off. Thanks!! April :confuse:
Also, I had a trade-in and I just took the trade in value upfront. Your payment will be higher and you might lose the sales tax break, but you don't risk losing the money if your car is stolen or totaled.
Your car must really be loaded. Mine was loaded with a MSRP of $45k. You must be getting the sport package and 18" wheels also.
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
The first thing that I noticed about your deal is that you plan on trading in your current vehicle when you lease your new one. There's nothing wrong with trading in a car or truck when you lease your new one, but it would be in your best interest to have the dealer that you are working with cut you a check for your trade rather than using the proceeds from it as a down payment for your lease. I always advise consumers against making large down payments on leases. Those who do, risk losing all or part of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered.
Also, the money factor and acquisition fee that you were quoted for this truck are too high. BMW Financial Services' current buy rate lease money factor for a 36 month lease of a 2007 X3 is only .00215 with the payment of a security deposit at lease signing and its base acquisition fee is only $625. It appears as though the dealer that you are working with is marking both of these items up to add additional, hidden profit to your deal. Try to find a dealer that will use the base factor and acquisition fee.
Now let's take a look at this truck's selling price. The X3 that you described probably has a spread of around $3,800 between its full MSRP and its dealer invoice price. You are being given a discount of $1,700 on it, which is still around $2,000 over invoice. There's still some room to play with here. It wouldn't hurt to comparison shop with a few other dealers to see if you can beat this deal. Also, 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".
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
Also, it would be very helpful if someone can provide me with a link to a listing of money factors and residuals on the BMW or BMW Financial Services website. I have seen older schedules on other posts but cannot find the information on the BMW websites themselves.
I would greatly appreciate any assistance.
Thanks!
- kp22
BTW
Does anyone know if they are going to drop the 300hp 3 series engine in the X3 and when?????
Looking at an X3:
Terms 15/36 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 for your opinion in advance, Car Man!
Went to dealership today and got a quote for X3 with Auto, Xexon light, Nav Package and Matellic Paint.
MSPR: $41850.00
Cap Cost: $39600.00
Adjusted Cap cost: $40612.91
Res. value: 77%
lease factor: 0.00215
24 month 12k/ year
NYC 8.375%
total sales tax: $1012.91
DMV Doc: $452.50
ACQ Fee: $625.00 (donno what is it)
Security deposit: $550.00
amount due at signing: $2133.62
monthly payment: $506.12
Any idea do i get a good deal? please advise.
Thank you
can you please post the details of the X3 you bought last week? Did you buy or lease?
Thanks!
I am curious why you'd go to Texas to leave a vehicle if you live in Tennessee.
2007 BMW X3 in Alpine White with Sand Beige Leatherette and equipped with auto transmission, heated steering wheel and front seats as well as privacy glass. MSRP is $40025. The current "price" is $39325. Money factor appears to be .00255, term is 36 months with 10K miles. They have me paying $5300 at signing ($450 is security dep.). Taxes are listed as $3683 - our sales tax rate here is 7.55%. The monthly lease payment is $448.23. I want to pay nothing down and negotiate to a net capital price of $38000 or pay $1000 down for a net capital price of $37000. I cannot understand why the need for the $5300 down - it doesn't add up. What are they doing?????
If so the sales tax plus security deposit plus the first payment nearly equals 5,300 dollars. Throw in a few hundred dollars for registration, plates and doc fee and you have 5,300 dollars.
Also, that tax amount is huge... do you live in Illinois or Texas?
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
Our factory ordered X3 has arrived at the dealership. We were approved for a lease at time of order. I've been told that if lease rates drop by closing, we will be entitled to the lower rate. When will rates be available(or what are) the rates for July 2007?
Many thanks.
do you have a sense of what the new numbers are for the X3?
I'm interested in an Automatic with Premium and Climate package, and only basic inception fees at signing.
Term: 24/36 months
Miles: 10k/year
MF: ?
Residual: ?
Thanks very much.
I'm not a returning BMW customer... do you know what the July money factor is for first time BMW purchasers?
Thanks.
Q
Residuals are 78% and 68%..
All of this is unchanged from last month.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
http://www.bimmerfest.com/forums/showthread.php?t=216031
For the X3 3.0si 4WD:
24mos,10k: Residual of 78%, MF=.00215
36mos,10k: Residual of 68%, MF=.00215
For 12k, subtract 1% from the Residual.
For 15k, subtract 3% from the Resiudal.
The Residual for 24mos is excellent! MF, not so much. Apparently, there's a discount on the MF if you're a current BMW customer.
I'm in the market for a small SUV, and the residual here makes me want to go check out an X3 this weekend...
2007 X3
MSRP: 42,325 includes Auto, Premium, Heated Seats and Steering Wheel, privacy glass
Selling Price: $40,105
Residual: 78%
MF: .00215
Term: 24 month/12k per year
Payment: $496 (includes tax)
~$2100 basic inception fees due at signing (first month, $500 SD, reg fees, and acquisition)
Sound like a decent deal? By my calculations, I'm about 12 over, but I still think it's not too bad.
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
The acquisition fee is standard -- the money goes to BMWFS, I believe. $625 is the base fee, but dealerships are allowed to mark it up to $825. You've got it as low as it can get.
Also... I was curious about the discounted MF with security deposits (and if it's really a good deal or not). For those who are interested, I went ahead and calculated the NPV of the two lease options:
With Security Deposits:
1. Monthly Payment: $499
2. NPV (r=0%): $18,333
3. NPV (r=12%): $16,611
4. NPV (r=20%): $15,592
Without Security Deposits:
1. Monthly Payment: $534
2. NPV (r=0%): $19,603
3. NPV (r=12%): $16,616
4. NPV (r=20%): $14,985
What do those numbers mean? It means... if your money would otherwise sit in a 0% checking account, you're saving almost $1200. If it would be making 12% in the S&P500, you're breaking even. If it would be making 20% in the Russell2000, you'd be losing about $600.
Interesting. Probably a solid deal. Essentially, a zero-risk return of 12%. That's a good deal.
I also learned that finance guys use a "magic number" to determine the interest rate of the MF. Basically, take the MF number and multiply by 2400. So the base MF of .00251 x 2400 = 6.02%. The discounted MF for 7 extra sec deps is .00161 x 2400 = 3.8%. On .00151 it's 3.62%.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
Car_man
Host
Prices Paid Forum
Once you arrive at a selling price that you are comfortable with, make sure that the dealer that gives it to you calculates your X3's monthly payment using BMW Financial Services' current buy rate lease money factor and residual value of .00215 and 65% (for a 36 month lease with 15,000 miles per year). Using this lease program, I estimate that the zero down, pre-tax monthly payment for a lease of the truck that you described at $500 over invoice would be around $483.
Car_man
Host
Prices Paid Forum
Now let's take a look at the selling price that you were quoted. The dealer invoice price for the model that you described is $38,535. That puts the selling price that you were quoted at just over $1,000 over invoice. That isn't a bad price for a lease of this model using the buy rate lease money factor. Still, it wouldn't hurt to stop by the following discussion to see how much other community members have paid for similar models lately: "BMW X3: Prices Paid & Buying Experience".
In your post you mentioned that you didn't know what the acquisition fee is. All banks that lease vehicles charge an acquisition fee and individual dealers do not have the authority to waive it. BMW Financial Services' base acquisition for is $625, which is right in line with the fee that you were quoted. This means that the dealer you are working with is being very straightforward with you because BMW dealers are notorious for marking up acquisition fees by a couple hundred dollars.
Car_man
Host
Prices Paid Forum
The next day she goes to go to work and the car is dead (OK, maybe they left the door open while they were working on the car at the tire place). AAA comes and gives her a jump. The AAA guy says the battery is deader than dead and she shouldn't turn on the AC or radio, just go and get that battery replaced right now (Its possible, the battery is 4 years old.
She goes to sears to get an new battery and they guy tells her that the Alternartor isn't charging and the car is running on pure battery power.
She goes from sears to a trusted mechanic who tells her the alternator is shot. Not a problem as she has an extended warranty that covered the car until 7/13/07. A new alternator set me back only $50 (hey, at 7 years the alternator should be replaced.
A few weeks go by without a hiccup and my wife calls me at work and tells me her car isn't feeling good. I drive it and it keeps hesitating on the highway between 3rd & 4th gears.
We bring it to the Mazda dealer. He tells me they can't road test the car to see if there is a transmission problem because the timing belt tensioner is loose and must be replaced. The extended warranty company won't pay for a new tensioner unless a compression test is performed. They want me to pay for everything in advance and then IF the car passes a compression test, they'll pay for the tensioner (well over $500).
That's when I decide they are going to drag their feet and fight me until the warranty is up so I decide to throw the towel in and get my wife a new car.
First I looked at an '07 Accord EX-L V6. I liked it, she didn't. She said there are too many of them on the road and too many old people in our condo complex drive and Accord. The 3 year lease on an '07 (with a new body style coming out soon) were almost too good to pass up.
Then we checked out the CR-V EX-L NAVI. She liked it because of the amount of interior space, I didn't because I felt like I was sitting on a toilet and with the AC running there was a distinct lack of power.
I saw an ad on the VW website for a cheap lease on a Passat Wagon. OK, this thing really isn't bad looking and leasing a VW means I don't have to worry about it. We emailed a close dealer who gave me all pricing in her reply including residual, sticker price, selling price, & .00006 money factor (yes that is 4 ZEROS). It was Saturday and she told me the rates were changing on Monday. Well, the lease rate changed from .42% to 2.4% which is still cheap but made the payment jump $44 per month due to VWs crummy residual value. Suddenly the Passat Wagon that we drove and both loved was too expensive (at $400 per month it was a decent deal, at $445 it was expensive). We leave the dealership almost heartbroken.
While all this is going on, I'm negotiating a lease for my Dad on a new '07 X5 3.0si as the lease on his current '04 X5 3.0iA is set to expire. I made a great deal for $1000 over invoice with base mf and acq rates on a 30 month, 50,000 mile lease.
After he faxed all the paperwork in, the salesman at Wide World of Cars in Spring Vally, NY calls my Dad at work to get a deposit so he can go ahead an order a truck for him.
My Dad tells the guy: "Listen, I'm buying this X5 from you for August delivery and the lease is up on my wife's '05 530i at the end of December. My son is interested in an X3, call him here at work tomorrow and make him an offer he can't refuse.
So we found a lightly optioned (Metallic Paint, Heated Seats, Privacy Glass, & 18" wheels) 2007 X3 3.0si. $471 per month with a $0 Cap Cost reduction including tax for a 36 month/15,000 mile per year lease with only first month, security, DMV fee, & bank fee due at signing.
Sorry for the long post, but after being a HUGE BMW fan for many years, I'm finally going to have one to call my own (as long as my wife isn't using it)!
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD
What a saga! Glad your wife is finally in a good car. How much over invoice did you pay for the X3 (and you Dad pay for the X5)?
Thanks!