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BMW X3 Lease Questions
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Comments
$750 above invoice good on 2008?
True only 7% markup from invoice to MSRP?
How much less is true cost than invoice?
MSRP = ~45,300
Neg. Cap Cost = 42,025
12K miles for 36 months
Res: 64%
MF= 0.00125
$1 K down (~$2k to start including first month's payment)
$485 per month.
I can't complain too much as the '08's are getting scarce and I got most of what I wanted on the car.
Car_man
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Many thanks for all of the great info you provide out here! VERY Much appreciated.
Any word on the Dec. 2008 lease numbers? Too early? In partcular, looking for 2009 BMW X3, 12K miles/year.
Also, BMW just announed that sales of BMW brand vehicles decreased 36.1 percent in November for a total of 15,217 compared to 23,808 in November 2007. Year-to-date BMW brand sales were down 12.3 percent, to 231,053 vehicles compared to 263,596 vehicles sold in the same period in 2007. (Story here - http://www.forbes.com/prnewswire/feeds/prnewswire/2008/12/02/prnewswire200812021- 418PR_NEWS_USPR_____NYTU148.html)
Thanks CarMan!
Also, he is marking up the MF at .165% - does this even make sense? Shouldn't it be .00165 regardless. Its obvious he is changing it because they sent me all four terms 24/30/36/42 months and they are all the same MF. Funny.
Any tips on negotiating the MFdown & what is an assignment fee?
THANKS!
I don't know about assignment fee, maybe Carman can help. But on my last lease on X3, there was no such thing.
On the MF, a dealer I talked to said that they are allowed to mark it up by 0.0004. It adds up to about 1% more on the rate. On a typical X3 lease, that could add up to $500-600 a year. In essence they double dip on you.
My suggestion is to try to negotiate and if they won't budge, go to other dealers.
The money factor is usually the same up through 36 months. It jumps at 48. 42 I don't know about. They've probably kept it the same to 42.
You can also find out the Dec MF by searching recent posts.
Do yourself a favor and check with another dealer.
I am dealing with other dealers, but this one quoted me $80 over invoice on a 2009 328i. Of course they have a $599 Dealer Fee - plus all these mark ups. I'm thinking if I can get all these lease terms legit. I have a good deal for a 2009 BMW with Premium/comfort/ipod/integration for $37,500 - MSRP is $39,950. Not a bad discount ($2,450) for a 2009. Right?
MSRP 45,300
Sales 39,783
Net Cap 39,033
Res 28,389.60 (63%)
MF: .0014
Base Month 390.04
Use Tax 35.10 (purchased out of state)
Total Lease Payment 425.14
Monaco Blue
Xenon
Sport Activity Package
Cold Weather
Heated Steering wheel
Premium
Car_man
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Also, BMW Financial Services' current buy rate lease money factor for the 2008 X3 is .00125. The dealer is marking this up as well. If you live in an area that has a decent level of competition you should be able to get the dealer to charge you the base money factor and acquisition fee.
Car_man
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Car_man
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I am thinking about leasing a BMW 2009 X3. I went to a dealership this afternoon and this is what they offer. The MF and RV all seem consistent with what you provided on previous post. I am not sure about the purchase price, which is higher than the invoice price and lower than the TMV. Could you please let me know how much above invoice price would be a good price? Also, for some reason the invoice price provided by Edmunds doesn't show an additional charge for the color (Vermillion Red Metallic). Is that reasonable?
Thanks!
MSP: 47,925
Purchase price: 45,999
MF: 0.0019
RV: 62%
Term: 36months, 12Kmiles per year, no downpayment, no tax upfront
Monthly payment: approx. 625
Options:
Vermillion Red
Navigation
Sport Activity Package
Cold weather package
Premium package
Heated steering wheel
Is the BMW FS money factor known for this?
2007 X3 leased in feb 2007
MSRP: 43095 (nav,xenon,bmw assist,privacy,Park Distance Control)
Lease Price: 41011
24 Months/15K miles
Money Factor: .0015
Residual: 75%
Payment including NJ Tax of 7% is 508.
So... invoice is probably the best you can hope for on a brand-new one.. That's $3K-$4K off, depending on options...
They do have a pretty good lease program, still..
regards,
kyfdx
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2008 X3 - Premium option & Navigation
MSRP 45,825
Capitalized cost 42,897
Bank Fee 925
Drive off 2,500 (1st payment, cap reduction of 1,354.02, DMW, fees)
Rate: 0.00140
Residual: 25,203.75
Based payment 574
tax 44.51
Total 618.81
We feel the rate is too high. Can someone tell me if these numbers make sense? Thank you for your help.
3 year lease/ 30,000 miles. $ 550 incl taxes. does this seem like a ball park figure to start? how close to invoice price can i get for my cap cost?
Cold Weather
Premium
Sport
Servotronic
MSRP = 44925 w/dest
Net cap cost = 42,925 ( invoice appears to be 42070)
Res% = 0.6 X Net cap
MF = 0.0014
Zero down (taxes and fees only...no wierd fees noted)
Monthly payment, pre tax = 573
Need some advice cuz I notice that Res% and MF seem to move around month to month. Also need the latest info on current (Jan/09) #s for this because at the dealer they told me the Res% is now .42 or so on 2009s. Also what might be the same numbers if I buy a leftover 08? Also noticed in my little Excel sheet that residual%s diffs of 2 or 3 make a pretty big difference...
Car_man
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Car_man
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Car_man
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Car_man
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I believe my residual value is about 27,000.
Do you think I have a chance to buy it back for 23,500 - 24,000?
Who should i negotiate with? BNW FS? dealer?
I would appreciate your advice.
michael
Let everybody know how that discussion turns out.
after the lease.
2006 X3 30,000 Miles White leather + heated seats
Residual 25,700
BMW will convert it into CPO and sell it back to me for $22,000
I need to return the car after the lease - can't wait for new X3 or Q5 or Volvo ( was thinking about GLK though... ) - there is not much else on the market I would be interested in and current lease terms are not that good.
Good deal?
Michael
The final deal is $23,500 with 0.9 financing.
Still not bad I think but much worse than 22K ( Dealer said that made a mistake with previous quote)
Michael
$23.5K with 0.9% is better than $22K without it.. assuming 60 months and 4.9% normal rate.
For 36 months, it's about even ..
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She doesn't like leasing. She thinks it is ridiculous to be paying money every month to a car that you don't own. She doesn't feel like the car is "hers." She would rather us buy a car by taking out a 5 year loan, pay it off in 4 years, drive the car free and clear for a few years after that. Then the maintenance and reapir costs would outweigh the cost of a new vehicle.
I agree with her to a point. Cars are made so well these days that 100,000 miles plus isn't a problem for most cars. The thing I love about leasing is that at the end of the lease you just walk away from the car. At the end of our lease, BMWFS says out truck will be worth $27,000.
I recently saw an ad in the paper for 2 CPO '07 X3s with 16K & 36K miles. The BMW dealer is asking $24K & $25K respectively. That means the dealer either took these 2 X3s in on a trade or bought them at an auction for $18 or $19K.
Let's say we took out a loan on our X3 instead of leasing it. In 3 or 4 years time we decide we want to get rid of it (Don't get me wrong, WE LOVE IT) for whatever reason. We need a bigger vehicle, it starts to have some problems out of warranty, my wife decides she doesn't like driving a truck... We'd be so upside down on our trade. I know I could always try to sell it privately, but I had a lot of problems trying to sell my wife's former '00 Mazda Protege ES for $2,000. I can imagine the headaches of trying to sell a $30K car to a private party.
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD
Car_man
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Dealer to dealer deals can be a little different so check with at least two other dealers, and get an internet price, most dealers have an email guy that answers lease questions for internet only deals. It's a lot easier than driving in and haggling, internet deals are sometimes a little lower. Give them your exact spec but don't tell them you are shopping or already know what it is. Good luck.
I have purchased back my X3 2006 after the 3 year lease:
2006 White X3 premium leather, privacy glass, heated front seats, otherwise standard
29,000 miles
Residual value $25,700
Purchased at BMW Manhattan for 23,500 with 0.9% financing
as a CPO (with extended warranty)
At BMW Brooklyn I was quoted 29,000.
Michael
I am about to purchase my 2005 X3 at lease end with CPO and 0.9% financing (that was the promotion last month that I secured). I was quoted a price and was told the CPO could run between $3,000-$5,000,. They are performing a 40 point inspection (for $150) and will let me know if it qualifies. Then, the dealer will tell me if I need new tires, etc and how much it will cost, so they can "adjust" the quote accordingly. I was under the impression that when they CPO the car, they sell it back to you in "like new" conditon. My dealer said that since it is my vehicle, it is a "lease to retail" and they don't fix anythng they don't have to. Just curious if you needed any work done on your X3 when they certified it and if they charged you. Also, what condition was it in when they sold it back it you? If they don't intend on "fixing" anything then, I would have liked to take the "Orignal owner extended warranty" since it covers more than a CPO, but I wouldn't get the 0.9%. Thanks for your input.
1) my price did not include tax. it did include CPO. With tax in NY full price was close to 25,000 and final per month payment of $435 for 60 month
2) My car was in pretty good condition, not after-lease charges. They did not charge anything extra - 23,500 was all I paid ( plus inspection, registration, some other fees about $200) They did full detailing on the car and replaced some plastic inserts inside - like mirror controls on the door.
Michael
Thanks.
It is difficult to say what BMW's lease program will be like on the 2010 X3 when it is initially introduced at this point.
Car_man
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Need the MF and Residual on a '09 X3 for 10K miles both for 24 and 36 month lease. Also, can you confirm what loyalty cash/incentives that are available for current BMW FS customers?
Thanks once again for your help on the '06 BMW Z4 we are turning in soon. The info you've provided over the years has saved us hundreds if not thousands of dollars!
Didn't see a reply to this request.Can you please provide the MF and Residual on a '09 X3 for 10K miles both for 24 and 36 month lease? Also, can you confirm what loyalty cash/incentives that are available for current BMW FS customers?
Thanks,
Tyler
BMW is currently providing $4,000 dealer cash on this truck.
Car_man
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When we leased our 2007 X3 back in July of 2007, the residual value at the end of our lease is 65% after 3 years. 75% if we would have taken a 2 year lease.
Things were much different back then.
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD
Any information would be appreciated.