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BMW X3 Lease Questions



  • Hi Car Man,
    My name is Maritza and my lease is up 1-28-08 (BMW x5).
    I don't think I did a good job with leasing my BMW and would like your help in this new lease offer. Please let me know what you think. Thank you.
    1. 2008 328xi
    2. white with black interior
    3. automatic
    5. 3 year lease
    5. 15000 miles a yr.
    6. MSRP $36,350 (invoice $33,540) includes the destination charge
    7. Due at signing; saleman states around $2,475.69 to $2,793.00
    1. 1st month 459.46
    2. security deposit $ 0
    3. title fee $ 0
    4. registration fee $57.75
    5. license fee $0
    6. Bank fee $ 625
    7. Sales tax (7.37%) $1,265.98
    8. No cap reduction fee $ 0
    9. Documentation fee $45.
    10. Tire Recycle fee $12.50
    11. Inspection fee $10.
    Please let me know what you think. Are there any other fees that he might come up with when I do go in for signing? He stated that the bank fee was a fee which the bank charges for doing the paper work. Is this true? Is there anyway thing I can do to negotiate this contract and make my monthly fee less because I have a couple of thousand dollar I have to pay for over mileage when I return my x5?
  • Greetings niclaf77. BMW Financial Services' December buy rate lease money factor and residual value for a 36 month lease of a 2008 BMW X3 with 12,000 miles per year are .00270 and 67%, respectively. The numbers for an otherwise identical 42 month lease are .00270 and 53%.

    At lease signing, you will have to pay your first month's payment, a security deposit equivalent to that payment rounded up to the nearest $50 increment, BMW FS' $625 acquisition fee, and any required state taxes or fees. BMW FS will waive its security deposit requirement in exchange for a .00015 increase in your vehicle's money factor. You should be able to add most of the other fees to your X3's capitalized cost to make them part of your monthly payment if you want to.

    BMW is not currently providing any cash incentives on this model.

    Prices Paid: Buying & Leasing Experiences Forum
  • Hey Ken. BMW Financial Services' current buy rate lease money factor and residual value for a 24 month lease of a 2008 BMW X3 with 15,000 miles per year are .00270 and 75%, respectively. The numbers for an otherwise identical 36 month lease are .00270 and 65%. Good luck and let me know if you need anything else.

    Prices Paid: Buying & Leasing Experiences Forum
  • Hello maritza2. You never mentioned the selling price of the 3-Series 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 car 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 the 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 its selling price is.

    This particular discussion is for community members to talk about leasing the BMW X3. Please post the information that I requested over in the BMW 3-Series discussion. Thanks.

    Prices Paid: Buying & Leasing Experiences Forum
  • kelmagkelmag Posts: 1
    Carman - thanks for the info on lease money factors and residuals and the $625 acquisition fee. Does BMW Fin. Svcs. charge an end of lease disposition fee or any other fees? My insurance company has a car buying agreement that apparently will allow me to buy (or lease I would guess) an X3 for invoice plus $1,000 regardless of options and accessories. Sounds like a good deal but I don't want to walk into the final closing and be hit with extra "fees" larded into the deal to add to their profit. It appears the acquisition fee of $625 and a document fee of about $50 is legit plus tax and license - anything else I can expect? Thanks.
  • No problem, kelmag. I believe that BMW Financial Services charges a $350 disposition fee at lease-end. It will usually waive this charge for consumers who opt to lease another vehicle through them. BMW FS also charges a security deposit that's equivalent to your vehicle's monthly payment rounded up to the nearest $50 increment at lease signing. It will waive its security deposit requirement for returning lessees. For non-loyal customers, it will waive the security deposit in exchange for a .00015 increase in the money factor that is used to calculate their monthly payment.

    $1,000 over dealer invoice is not a bad deal, but it's not that special either. Any consumer who is an area that has a decent level of competition would probably be able to negotiate a selling price of $1,000 over on their own. It wouldn't hurt to stop by the "BMW X3 Prices Paid and Buying Experience" discussion to see how much other community members have paid for their X3s lately.

    Prices Paid: Buying & Leasing Experiences Forum
  • paowowpaowow Posts: 7
    My 2005 325i lease ends this month and need help deciding whether to buy off my current car or lease a new 328i...

    My Current Car

    2005 325i w/ no options except metallic paint and Auto Trans.
    current Mileage :28100
    Residual: $18730

    Lease Deal offered

    2008 328i with PREM PKG, iPOD Adapter
    MSRP: $38100
    36 month lease / 10000 miles per year
    Total Drive off : $1000
    Monthly Payment :$449+tax ($459+tax if 12000 miles per year)
    Residual $24383

    Help me decide!!!

    Thank you in advance...

    And if I keep my current car, is certifying it worth it?? (dealer said it costs $3000, but it will extend the warranty to 6yr/100Kmile and BMWFS will lower my finance rate to 3.9%)
  • pbphkpbphk Posts: 1
    Newbie on board -- Current lease on 330xi is expiring (in March) and now considering a 2008 X3. Went into first lease with blinkers on a couple of years ago -- I think the deal I got was pretty good simply based on my understanding of financing. Want to position myself to get the best deal this time and would appreciate any help/advice. Have received the following offer from dealer in North NJ

    MSRP of $45,950 (Premium & Cold Package; Metallic Paint; Servotronic; Heated Steering Wheel; NAV System; Xenon Lights)
    Cap Cost of $44,503
    Residual of 78% (24mths 10k lease)
    Money Factor of 0.00205

    Monthly lease payment = ~$526

    No cap cost reduction; taxes and all applicable fees upfront (~2700 including first payment)
    My calc tells me they are making ~$2k over invoice which seems a lot (according to posts I've read) Realistically, how low can I go? A couple of other dealers within 20 miles but their also seems to be plenty of BMW X3's on the road (in and around NYC area) presumably meaning the demand is pretty good.

  • eights38eights38 Posts: 137
    pbphk - I think that you should be able to do better in northern NJ. What dealer are you working with?

    If you need more help, please email me or reply.
  • ghstudioghstudio Posts: 970
    Does BMW Finance still discount the finance rate for multiple security deposits? If so, what's the reduction per security deposit.

    I had a BMW come off lease about 2 years ago....can I get the returning customer discount on the finance rate?

    Anyone know the February residuals and finance factors for the X3...24 month and 36 month?
  • Hi paowow. This particular discussion is for community members to talk about leasing the X3. You will have better luck getting an answer to your questions about leasing a 3-Series by posting over in the BMW 3-Series Leasing discussion.

    Prices Paid: Buying & Leasing Experiences Forum
  • Welcome pbphk. Let's take a look at the deal that you were quoted. The money factor that you were quoted looks attractive. The other important factor is this vehicle's selling price. The dealer invoice price of the car that you described is around $42,265. This puts the selling price that you were quoted at around $2,200 over invoice. If you are in an area that has a decent level of competition (which you definitely are), I personally would not be surprised if you were able to do better than this. Try getting price quotes from a couple of other dealers. Also, make sure to stop by the BMW X3 Prices Paid discussion.

    Prices Paid: Buying & Leasing Experiences Forum
  • Hey ghstudio. Yes, the last time that I checked BMW Financial Services still allowed lessees to make multiple security deposits. BMW FS will reduce vehicles' money factors by .00007 for each additional deposit, up to a maximum of seven.

    Unfortunately, I believe that two years is too long ago to qualify for any sort of owner loyalty bonus.

    BMW FS current buy rate lease money factor and residual value for a 24 month lease of a 2008 X3 with 15,000 miles per year are .00255 and 74%, respectively. The numbers for an otherwise identical 36 month lease are .00255 and 64%.

    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car_Man,

    My current X5 lease (thanks to you I got a good deal 3 years ago!) ends on February 25th and I'm thinking about leasing an X3 (or Infiniti EX35). How much is a loyalty bonus? How much should I expect to pay for a MSRP $41350? What is a dream lease for 36 months, 12,000 mi/yr in St. Louis, MO area?

    Also, between X3 and EX35, which one do you recommend? On which am I likely to get a better deal on similarly equipped cars?

  • ichor0416ichor0416 Posts: 10
    I have two months remaining on my '05 X3 and would like to terminate it by assigning/transferring the lease to someone else. A few people are interested because they need a 2 month rental and others are interested in buying out the car at the end of the lease term. My question: how easy is it to transfer a BMW lease and what kind of fees are associated with it. Will BMW inspect the car and provide a document that says that it's in good enough shape that when it's returned by the new lessee, there will be no damage fees?
  • kyfdxkyfdx Posts: 66,757
    I don't think BMWFS will allow you to transfer a lease within the last six months of the term...

    Plus, even if they did, they charge the new lessee a $450 transfer fee.. That's a lot extra for just two months..


    Prices Paid, Lease Questions, SUVs

  • stevenycstevenyc Posts: 8
    I'm wondering what people's experiences are with the end-of-lease process. I may be a bit earlier but my 30 month lease expires in January. My mileage will be fine and I'm not worried about that. I do have a dog and some things are not in pristine condition. There is a pressure mark on the inside plastic surface of the rear door; a tiny pin-prick tear on the back seat, some scratches on the inside of the back seat glove holder (if that's what it's called) and a few other (hopefully) minor things. There are no dents on the exterior but one of the wheel rims got a good scratch from a curb and it grated off a bit.

    I hope I don't come off as some careless driver but it's hard when you live and drive in NYC to avoid every obstacle. How particular are they about such things?
  • nyccarguynyccarguy Stamford, CTPosts: 11,389

    BMW seems to be really pretty anal about the fact that the cars being returned at lease end pretty much look showroom new on the outside. They send a 3rd party inspector out to look at your car. I wouldn't worry about the interior scratches. My Dad turned in his '04 X5 over the summer and had 2 Great Danes in the car for the duration of its lease. We just had it cleaned up before they came to inspect. There were a couple of exterior issues that the inspector wrote up that we didn't agree with. The rear bumper got the NYC Bumper corner treatment and they banged us for $400 to repaint the bumper...OK, fine. There was a ding in the driver's door from a rock (The car had close to 80,000 miles) that you couldn't even see unless you looked at the car at a certain angle, the inspector put an arrow magnet there...BMW wanted to charge us $600 to repaint the door. There was a scratch in the clearcoat near the rear passenger side window (from the dogs trying to jump into the car when the door was closed and BMW wanted to charge $600 to repaint that door. Needless to say it was very easy to negotiate with them because we had a new BMW X5 on order. If not, I don't know.

    It sounds like they'll bang you for the one wheel. If you want to replace it, check out circlebmw's parts department or bavarian autosport. They should have replacement OEM wheels much cheaper than other dealers.

    2001 Prelude Type SH, 2011 Pilot EX-L 4WD, 2015 Infiniti G37x Q40 AWD

  • kyfdxkyfdx Posts: 66,757
    Scratches, nicks, etc. on wheels won't cost you anything...

    Strangely enough... The wheel pretty much has to be unserviceable to take a hit on turn-in..


    Prices Paid, Lease Questions, SUVs

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Man, you're making me feel old, elizariev :) . Welcome back. BMW is providing a special money factor reduction for loyal customers on select models, but I have not heard about this program being available on the X3. I am not sure if it is. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 BMW X3 with 12,000 miles per year are .00255 and 66%, respectively.

    Let's work up a sample lease payment on the truck that you're interested in. Using the above lease program, and MSRP of $41,350, and a selling price of $38,850 (a $2,500 discount, which is a good deal), I estimate that this truck's zero down, pre-tax monthly payment should be around $490.

    I like the X3, but I have not had an opportunity to actually drive the EX35 yet, so I can't really give you an informed opinion on which one is better. In general, I usually prefer BMWs to Infinitis though.

    Prices Paid: Buying & Leasing Experiences Forum
  • cer2225cer2225 Posts: 1
    Can someone please post the current lease rates for April 08? I am looking to lease an X3 and would like this information before I head to the dealership.

    Thank You
  • avuuavuu Posts: 2
    Hi all,
    I'm coming to an end of my 2005 X3 lease term in July and the dealer gave me an option to buy the car for $25,600 but I checked on Edmund for the TMV value of my car I found the following:

    Trade in: $20,766
    Dealer: $23377

    but is this price for a Certified car (included the extended BMW mantainance up to 100,000K) or is it not?

    I'm thinking to negotiate the price from $25,600 to $21,000. Do you think it's reasonable? I figure that I'll need to pay $1800 for the extended mantainance and $1000 to replace the tires (some issues with the tires ever since I took the car out for the lease).

    Thanks so much for your advices! This is my first lease so I'm still a bit unfamiliar with how leasing work but I learned a great deals from Edmund's leasing section and the forums.

    Thanks all!

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello cer2225. Here is the information that you're looking for. BMW Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2008 BMW X3 with 15,000 miles per year are .00250 and 64%, respectively. BMW is currently providing a special .00065 money factor reduction on this truck for current BMW lessees and owners.

    Prices Paid: Buying & Leasing Experiences Forum
  • afinnerafinner Posts: 6
    Car man, Do you know the residual and lease rate on an new X3 with 10,000 and 12,000 miles a year if offered? I assume it's less than the 15,000 mile residual. Thanks.
  • Where's this recession I've been hearing so much about?

    Leased an X3 with CT Tax included in November on a $44,250.00 MSRP for $418/mo with $1806 out the door. 10K miles yr/ 24mo lease.

    Now getting a similarly spec'd out X3, even from a Jersey dealer seems to be running in the $490. range with similar out the door costs.

    What has changed? Are the residuals now more realistic? Anybody have any experience with BMW Finance extending the 24month leases an additional year at lease end?
  • heinzerheinzer Posts: 6
    Shocked to receive letter from GM offering me $2,000 to pay off my X3 lease if I buy a GM product. Week later receive letter fom local GM dealer "assist me in paying off remaining lease payments incl early termination." I thought BMW Finance was private - how did GM do this?
  • kyfdxkyfdx Posts: 66,757
    I got the same thing on our lease that's up in November..

    My guess? State DMV records are public. They look for vehicles owned by BMW FS, and then send a letter to the person/address under who the vehicle is registered.

    I'm positive they didn't get the info from BMW.


    Prices Paid, Lease Questions, SUVs

  • gforce11gforce11 Posts: 225
    They can probably get that information from credit bureaus. Kinda how Capital One likes to slam people with junk mail on a daily basis.
  • I just started my search and negotiations for a new 2008 X3. I plan to lease the vehicle for 24 or 36 months. Below is the quote I received from a local dealership. When I run the numbers through an on-line lease calculator, the payments come out about the same (i.e., $639) vs. $641. However, the on-line calculator monthly payment is inclusive of taxes. The the dealership's quote is $641 + $53 taxes for a monthly payment of $694. What am I missing? What is causing this $54 per month difference.

    Also, the money factor seems unusually high (7.18%). I am a first time BMW customer. However, I have great credit. Any advise? Before I start negotiating price and such, I really need to understand how to calculate the lease payments. Are they hiding fees or trying to over charge me for the vehicle? :confuse:

    Lease for 3 years and 10,000 miles per year

    2008 BMW X3, $1,195 total cash including drive-off, $641 per month plus tax.*

    MSRP is $47,600 - our prefered Internet price $44,989 plus tax and fees*
    Silver Gray Metallic Exterior
    Gray Nevada Leather
    Sport package
    Premium Package
    Steptronic Automatic Transmission
    Heated front Seats
    Xenon Headlights
    Navigation System
    Privacy Glass
    Dark Ash Wood Trim
    Panoramic Moonroof
    *Offer on approved credit, valid through Internet Sales Only until 5/31/2008.

    The money factor used is .00299. The residual value is 65% or $30,940.
    I live in LA, California. The sales tax is 8.25%
  • nyccarguynyccarguy Stamford, CTPosts: 11,389
    Marking up the money factor on you. The base MF for an X3 for a 15,000 mile per year lease is .0025

    2001 Prelude Type SH, 2011 Pilot EX-L 4WD, 2015 Infiniti G37x Q40 AWD

This discussion has been closed.