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BMW X3 Lease Questions

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  • I don't live in LA but in Ny and am negotiating same exact vehicle. I have one dealer down to $415 per mth $2000 upon inception that's without my trade which should be 23K for my 04 325. Your dealer sounds like an A$$ MSRp is 38.9K and 34.9K list. Since it was 7/31 he wanted to force you into a month end deal to just get a sale. I would pick 4 dealers and whoever has best price wins. I went from 395 to 290 on my 325 3 yrs ago.

    Good luck.
  • I was searching for additional info on leases as it will be my first leased car. I came upon another BMW forum. It has excellent information.
    Also I found out that you can lower the payment by putting multiple security deposits. Up to seven and each will lower the money factor by 0.0007, with total of 0.00049. The deposit is refunded at the end of a lease less any charges such as millage and wear and tear.

    The link is below:

    http://www.bimmerfest.com/forums/showthread.php?t=146090

    http://www.bimmerfest.com/forums/showthread.php?t=216031
  • Hey what dealer is it in NY? Also can you give me the details as to the SPECS of the car? I have a current X3 right now, it will have about 30,000 miles on it and goes back within a few weeks. The buy out price is $22,596 or something. It is a 2004 X3 2.5 with premium package and cold weather package. Please let me know if you think the buy out price is good or should it be negotiated more? Also let me know what I should expect for a new BMW X3 lease. Thanks all.
  • dhkhandhkhan Posts: 27
    Thank you xxgrzesx for the link to bimmerfest and lease space. This is really good information and adds to the excellent help I have got from the Car Space forums in my search for a good deal on an X3.

    By the way, have not seen any replies or postings from the Hosts (car_man and kyfdx for a while). Are they still monitoring this forum?
  • Sorry, I haven't been on for a while. This was for a 10K 24 month lease.
  • Can someone tell me if the lease rates changed for August?
  • I went to dealer on August 3rd and he quoted me same residual and MF as for July. I tried to get the same deal as you listed above and was told that I cannot get so low MF (0.0017) without security deposit. I know that you cannot post the name of salesperson who gave you that deal. Could you email it to me at xxgrzesx google com
  • The person I was dealing with is the "Internet Director". I believe the reason I got such a low MF is because I am a returning BMW Financial customer. At least that is what I've read on this forum. I believe the lowest MF for a returning customer is 0.0015.
  • minoteminote Posts: 13
    Hi all, please give me your opinion.
    I've been trying to get a complete and good quote from a dealership.
    This is the quote that I got:
    MSRP 42950
    Price 40595 ($1020 over invoice)
    36mo/15Kmil per year
    mthly 548.07
    residual value 65%, .00225 MF

    drive off $2,158 incl:
    548.07 1st pmt
    550 security deposit
    326 license fee
    8.75 CA tire fee
    45 doc fee
    625 bank acq fee
    51.56 bank acq fee tax
    3.71 doc fee tax

    Which fees I can bargain and how I can use the .00215MF?
    I'm looking to pay $520/mthly incl tax & $1300 drive off.
    Thanks for your time!
  • Did you lease a car? Could you post what was the best offer you received and the options on the car? Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, sshherman. Since you are new to the world of leasing, 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.

    You really need to figure out what selling price you are being charged for the X3 that you are interested in. Does the cap cost that you were quoted include any fees, like tax, title, or BMW Financial Services' $625 acquisition fee. If it does not then you aren't getting much of a discount on this vehicle and should probably do some additional haggling with this dealer or shop around a little bit.

    15,000 miles per year is the highest mileage allowance that BMW Financial Services publishes residual values for. If you need to drive 25,000 miles per year, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the scheduled end of your lease and have to pay an excess mileage penalty.

    Make sure that the dealer you are working with is using BMW FS' buy rate lease money factor of .00215 to calculate your monthly payment. If you are making additional security deposits, you will receive a .00007 reduction in this money factor for each additional deposit after the first, up to a maximum of seven extra deposits.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi minote. There is probably around a $3,400 spread between the full MSRP and the dealer invoice price of the X3 that you are interested in. The $3,215 discount that you are shooting for would be an excellent price. The price that the dealer countered with is probably around $1,000 over invoice, which isn't terrible but can probably be beaten in areas that have a lot of competition. Make sure to stop by the "BMW X3: Prices Paid & Buying Experience" discussion to see how much other community members have paid for similar vehicles lately.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi pjo1966. BMW's August lease program for the X3 is basically the same as its July program was. Perhaps the dealer that you spoke with was implying that they are going to be willing to provide big discounts on the selling prices of X3s in August. Either that or they were just making these "great deals" up to try to get you to come back and lease from them.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey minote. $500 over dealer invoice plus the use of BMW Financial Services' buy rate lease money factor is a very good deal on an X3 right now. I doubt that you are going to be able to do much better than that.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi tony411la. BMW's lease program for the X3 is basically the same in August as it was in July. Its current 36 month, 15,000 mile per year buy rate lease money factor and residual value for the 2007 X3 are .00215 and 65%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're right, tony411la. you were able to get a lower than normal money factor on the X3 because BMW is providing special money factor discounts for returning lessees on a number of vehicles this month. It is reducing the X3 money factor by .00065 for returning customers.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi minote. $1,020 over dealer invoice isn't terrible, but I have seen community members report getting lower prices on the '07 X3. Make sure to stop by the "BMW X3: Prices Paid & Buying Experience" discussion to see how much others have paid. The money factor that you were quoted is slightly high. BMW Financial Services' current buy rate for the '07 X3 is .00215 for consumers who pay a security deposit at lease signing. This factor is reduced to .00150 for returning BMW FS lessees.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I turned in a 525i last August; was told I'd have 12 months to return and get a break. I did so and was told, no it is 6-months. I calculated the current X3 lease special offer on the BMW website to be a money factor closer to .00150, but am certain my math could be bad even with the lease calculator.

    My visit to the dealer was over a 2007 X3 with various packages in NM. The dealer quoted me an MSRP ~$43,500 and residual was ~$29,500. On a 36-month, 12K miles, $2500 down, they quoted $579/mo. I was taken back thinking I could do better. Near as I can tell that results in a money factor much more than .00215 (again, I don't get along with numbers).

    When I returned home and did some calculation I am figuring that I should be able to negotiate pricing down to ~$41K or so. I also figure I can argue the .00150 as a returning lease customer where I was originally told I had 12 months. Based on those figures and my "lease calculator" entries I get my monthly down to ~$380.

    The salesperson told me that the lease monthly payment does not vary much based on vehicle without options and those with. I tend to think that is wrong. They also said that the residual is based on MSRP (so then the difference financed remains fairly consistent) and why the previous statement was true. Therefore I should take that to mean that the lease payment should not vary that much between models with or without options. As I mentioned I am not sure that is accurate.

    I would appreciate comments on negotiating the money factor, arguing for the returning lease customer discount. It would also be good to hear comments on comparing their offer to the online lease "special deal" on the BMW website. Finally, should I be negotiating on a vehicle with less options if I frankly don't need them to get the pricing down considerably.

    I was surprised to see that their quote of $579/mo was almost $200 more than my calculation -- almost insulting. What I do know about numbers is an extra $7200 is a bad deal.

    Cheers.
  • kyfdxkyfdx Posts: 30,476
    I can't really comment on returning your old lease... except to say that if someone told you that you could turn it in with 12 months to go... was probably not being truthful..

    As far as your other questions...

    1) You have those money factors down pretty well... .00215 is the base rate for new customers. Current customers can get .0015. The difference between those two numbers on an average lease is about $43/mo.

    2) Models with higher MSRPs are certainly more expensive to lease than lower MSRP models. The difference is not hard to figure... On zero-down leases, the prices should track the MSRP relatively closely.. So, if a $40K unit has a lease price of $500/mo., the a $44K unit should have a lease price of around $550/mo.

    3) The BMW website is relatively useless, as far as computing real-world lease pricing. It pretty much ignores any lease specials.

    4) Your current lease is the real wild card. I don't think the dealer can get you out of it, without taking it in trade, and that might involve some serious negative equity.

    5) Dealers can mark-up money factors and acquisition fees for extra profit. Dealers usually don't like to get into the specifics of calculating the lease, so you can't see what you are actually paying for the car. You can probably get into a $43K X3 for around $500/mo., pre-tax, with all costs rolled in, other than the 1st payment and TTL. That is a very good deal, but you'll probably have to shop around and work for it.

    regards,
    kyfdx
    Host-Prices Paid Forums

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Update to this negotiation. Figured I would clarify something first, my 525i was turned in on time; I do not have a current lease. Rather the dealer sales person claimed as a returning customer to BMW on a previous lease I have 12-months to get a special deal on a new lease. We were running that clock out to the day only to learn they were incorrect according to the sales manager, it was 6-months. I am sure that is selective on their part.

    Now what I learned on passing back to them my justification for the returning/existing customer money factor of .0015.

    The response I got was that their buy rate for existing customers is .0015 and then their sell rate is .00255 for existing customers. So the best deal they could work was still higher than my calculations were, significantly in my opinion, for a lesser equipped vehicle (and more down and 10K miles). The manager agreed to argue for giving me the existing customer rate.

    Since there is zero competition in this state for them I am certain they will eventually get the money they are holding out for, just not from me.

    Still not sure I understand the negotiation parameters on a lease in any detail, but have learned some through this forum.
  • kyfdxkyfdx Posts: 30,476
    1) If the buy rate is .0015, the maximum sell rate is .0019...

    If the buy rate for new customers is .00215... the maximum sell rate for them is .00255

    So, as you can see... again, they are being untruthful. If you were truly eligible for the existing customer money factor, there is no way they could mark it up to .00255. Whether you are eligible or not, I can't say. But, it seems your dealer will say just about anything.

    Good luck,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Does anyone know what the numbers might be for a CPO lease? looking at maybe an 04 or 05 X3 with 30k or so miles.
    Thanks,
  • But, it seems your dealer will say just about anything. Oh I agree, and why I told them no thank you. I should be down around $450/mo on my calculations and they are no where close to that. Someone will give them $579/mo but not me. Thanks for the feedback it will help if they respond to my no thank you or just blow me off.
  • ckungckung Posts: 42
    Hi guys:

    I'm new here and just got the quote for leasing 2007 x3
    2007 X3 3.0si

    Jet black

    Black leatherette

    Steptronic auto transmission

    Privacy glass

    36 month lease

    10k miles/yr

    $3,990 driveoff

    $359.92 + tax = $389.61/mo

    Do you think it's a good deal? I have 2004 325i at the endo f lease term (9/30) and thinking to lease the 2007 x3, if it's not a very good deal, anyone have any idea on the 2008? Really need ur help

    Thanks a lot
  • ckungckung Posts: 42
    Hi guys:

    I'm new here and just got the quote for leasing 2007 x3
    2007 X3 3.0si

    Jet black

    Black leatherette

    Steptronic auto transmission

    Privacy glass

    36 month lease

    10k miles/yr

    $3,990 driveoff

    $359.92 + tax = $389.61/mo

    Do you think it's a good deal? I have 2004 325i at the endo f lease term (9/30) and thinking to lease the 2007 x3, if it's not a very good deal, anyone have any idea on the 2008? Really need ur help
  • I was in the same boat as you and purchased almost the same vehicle a X3 Black Black leatherette Privacy Glass. The only additional options were heated seats and heated stearing wheel. I did 36 month 15k per year 700 drive off and 485 per month tax included

    Hope that helps
  • ckungckung Posts: 42
    Hi fieldsransom:

    Thanks. Do you mind to tell me what was ur msrp, % of residual and Money Factor on the X3 u leased? btw, where u located at ?

    thanks
  • Hi,

    Family size has recently changed and now in the market for a smaller SUV. The BMW is a front runner with my wife on looks alone however due to some recent postings on acceleration issues and a lag I'm not to sure about pulling the trigger. From my point of view I have three front runners:
    BMW X3
    Infinity FX35
    Nissan Murano

    The Nissan has the largest cargo room of what we're considering, both the BMW and X3 seem to have better steering. It's been a while since I've test drove the Murano. Interior looks great on the FX, plain on the BMW. Infinity has the highest hp but MPG suffers drastically.
    I'm looking to stay around the $399 per month mark? Love the sunroof on the BMW.
    Any thoughts and if anyone else did a similar comparison I would love to hear it.
    THanks.
    DB
  • Are any of the extra fees on top of the price of the X3 + options negotiable when leasing? Such as:

    Training & Service Fee - $180
    MACO - $350
    Doc Fee - $45
    Aquisition - $825
    License - $323
This discussion has been closed.