2013 and earlier BMW X1 Lease Questions
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Car_man
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Car_man
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Could you provide current money factor and residuals for the X1 xDrive28i and xDrive35i, 36 and 48 months, 10k miles/year?
I'm also wondering about going 4 years vs 3 since the maintenance is covered for up to 4 years/50k miles. Do the the rates for 48 months tend to be higher than shorter term?
Thanks,
Lee
I was wondering how you obtain the MF and residual value .......
Is it possible to receive a better rate from BMW than the 0.00145 (APR=3.48%) MF that is being calculated with the credit score above 780 - 800 range?
Which one would be a better pick? Lease vs. Buy? I am getting ready to order a X1 and just wonder what is the best to go with lease or buy.....
Thank you for your time.
I plan on ordering an X1 sdrive28i with the Ultimate Package. The MSRP is $38,195 and I've been quoted a selling price of $35,525 including the destination which I believe is fairly close to invoice?
This is for a lease, I've received a quote for 10k miles, 60% residual and 0.00145 money factor.
The question I have is, they've added in License & Registration, Bank Fee ($725), Doc Fee ($85) after the MSRP. Is this typical, to make the MSRP look more attractive? Should I negotiate a lower MSRP to negate those costs, or is there no headroom for this?
Thanks in advance!
The X1 is a brand new offering and still low inventory and will prove quite a good seller/leaser. Make sure the money factor is not marked up from base rate (which it doesn't appear based on other posts) and you have what seems to be a very good lease! Good luck!
PS: I saw my first on the road today and I want an X1 !!!
The numbers for a 2013 X1 xDrive35i are .00145 / 59% and .00145 / 53%.
I gave you the 42-month numbers instead of the 48-month numbers because that is the longest term that BMW's special lease money factors are available for. You definitely don't want to go with the standard rates that a 48-month lease would use.
Car_man
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BMW's lease programs are typically fairly attractive. If you feel as though a lease would suit your needs, I personally wouldn't have any problem with leasing an X1 right now.
Car_man
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I see you have a MSRP of $47,220. What is the selling price of the X1 M Sport you ordered? Was there any luck to get any discount on the vehicle that is being ordered?
Just curious, because I am getting ready to place an order as well.
Thanks so much for your time.
I appreciate your replay. Looks like the lease interest rate is 0.00145 (APR 3.48%) and purchase finance rate @ 3.79%. From your experience, which is better? buy or lease......
I review the lease contract there are so many fees ......but I do know BMW owners who lease usually end up buying the car at the lease end using their 0.9% APR ......Will that work better financially?
Car_man
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Much appreciated from your previous feedback on lease or buy.
I got a quote from a BMW dealer in Charlotte, NC. There are only two dealership here anyway and both own by the same company so I don't have much choices living in the Queen City. Isn't that insane? LOL......
Here is the quote I got:
The configured vehicle MSRP = $45,995
Quoted at Invoice price with Window Tinting =$42,885 (Including Destination charge)
The dealership added the following to my quote:
1. Sales Tax 3% with Trading in = $656.52 (I have a trade-In as well so paying less on tax.)
2. Transfer Tag/Title= $55.00
3. Administration Fee=$499
4. NC State Inspection = $13.60
5. Vehicle Detailing = $275
6. Shop Supplies = $10.75
7. Mark up from Invoice Price= $200
I calculated the dealer mark up using odd terms on #4,5,6 and 7 = $499.35
Final OTD price = $44,059.52
I also have the drive for USA Olympic certificate so I can get $1000 off from the vehicle price which is included in the OTD price.
I think the dealership charge my for stupid items like #3,#4,#5 and #6 whcih should be included as part of the administrative fees. They just trying to confuse customer using terms that we are not familiar in the car business. I don't think these are reasonable nor valid fees. What is your opinion on those fees?
Do you think this dealership is worth doing business with?
Thanks for your time.
Having said all of that, ultimately the total selling price that you are being charged for the X1 that you want seems reasonable to me, especially considering the lack of competition in your area.
Car_man
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Three dealers I've contact have the same rate; can I expect that the MF would be that much higher based on the region, then? Is MF something that can be negotiated with the dealer?
Thank you!
Car_man
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Car_man
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I have a 2010 135i convertible with BMWFS 36 month 12k miles/year lease terminating on 12/29/2012. I estimate I will have under 21,000 miles on the car by then, well under the 36,000 miles allowed. If I lease the X1 before my 135i lease is up, would the 135i be eligible for the pull ahead program and how does that work?
I could also take advantage of the BMW Ultimate Drive App offer for $300 off the first payment I believe, and I could also apply the $750 loyalty offer. I'll have $500 from my BMW Rewards car, too.
What's the best way to apply these to the lease where I have any choices?
Thanks,
Lee
Based on: .00145 and 60%
a 36 month/10k mile per year lease:
2013 X1 xDrive 28i - Black on Black
$38,745 MSRP
$36,545 Selling Price
Premium Pkg. -
Cold Pkg.
For a monthly cost of....
$309.
... I traded in my old car for $5500 ($1900 still due) and put 3k down in addition to get the monthly down (didn't like putting equity into a lease, but wanted low monthly for a few years).
Thoughts?
The money factor and selling price look good, but I personally wouldn't have made such a large down payment.
Car_man
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Thanks,
Lee
Car_man
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Would the .00135/62% be true for the sDrive28i as well? At 12K miles, does the residual drop to 60%?
Thanks!
With 12,000 miles per year, this vehicle's residual would drop to 59%.
Car_man
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Looking to get a X1 with Sport Line, Cold Weather, Drivers Assistance, Technology and BMW Apps installed. MSRP is $37845, but looking to get it at $36000. What are lease rates and residuals looking like for a Top Tier Customer (FICO 780)? How is residual calculated (on MSRP or Negotiated price)? Are there any ways to get better offers (like with joining a Volvo group gets you "Friends and Family" discount)?
Thanks!
Glenn
Vehicles' residual values are based upon a percentage of their full MSRPs, including the destination charge and the MSRPs of any options that can be residualized.
BMW is providing a $500 cash incentive and $750 owner loyalty cash on this truck right now.
Car_man
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Can you provide BMW Financial Services' November buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 xDrive28i with 10,000 miles per year as well as same for 12,000 miles per year? As I will probably be committing to the lease in December when would you have December rates as well? Thanks so much!
Could you please share residual and money factor for December in Seattle area, for 2013 sDrive28i with 10,000 miles/yr for 36 months?
Thanks!
On a separate note, the X1 is a nice addition to the BMW line-up. I am a current Audi owner and I was please with the driveability of the X1 - plus of course, functionality and looks.
Thanks in advance for your input!
Car_man
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The residual value for a lease with 10,000 miles per year would be 1% higher.
There is currently a $500 holiday cash incentive on the X1. Make sure to take it into account in your negotiations.
Car_man
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There is a $500 cash incentive for everyone and $750 loyalty cash on this vehicle this month.
Car_man
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So this year I am looking at the X1.
I'm confused abt what Edmunds and CarPriceSecrets and TrueCar post as their MSRP and Invoice Price. They all tell me different when they call me.
Actually I found that Edmunds showed a better TMV for this vehicle.
I live in NY, have had BMW's past 9 years, lease it and for this car, which I am looking at leasing (2)...1 my daughter will be leasing again. I don't know for sure what numbers I should be looking at. The only option I am looking for is the Cold Weather Package, and the Servotronic, and Bluetooth (apparently now we have to pay for this feature?).
Can you please guide me, and help me what I a good price would be, and the residual and MF for 12,000 miles, 36 months?
Thank you so much again!
Hermie :sick:
I am hoping you help me with regard to the leasing of this vehicle at 12,000 miles, for NY area.
Thank you! :confuse:
Hermie
Term = 36 mos.
MF = .00125
Residual = 59%
Tax = 8.38% (on lease payment, not car value)
Acquisition Fee = $725
Fees, MSRP, negotiated price all shown in image.
My calcs show $554/mo -- not $618. What am I missing? (Or how am I being taken?)
Thanks in advance!
2) Cash due = $0 ?? If so, capitalize the $725 and the 1st payment.. neither of those are shown on the worksheet, either..
I didn't do the math... just looking at the information you provided...
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All that will show up in the capitalized cost, if so..
The other possibility is they are marking up the money factor....
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Thanks.
I found that taxes are charged on rebate cash, doc fees, etc. once I knew that, and once the dealer used the correct money factor, the numbers matched (within $2).
All, any reason NOT to capitalize the first month's payment?
BMW Financial Services' December buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 28i with 12,000 miles per year are .00125 and 59% for consumers who qualify for its top credit tier.
Car_man
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What would be a fair cap cost on the sDrive 28i? xDrive 28i?
Also do you know the January 2013 buy rate lease money factor and residual value on a 36 month lease? Do you know if there are going to be any incentives for January?
I live in the NYC area. Dealer just told me that my out-of-pocket costs would be ~$2100, this is not including any down payment but includes 1st month lease payment. Does that sound right?
We have a family member who works at a dealership and may be able to get us an employee incentive deal too, making the X1 look very attractive right now. Considering this incentive, do you think its even worth the oxygen to try to negotiate?
Any other advice is welcome and appreciated.
Thanks!
Will be talking to dealer later today.
Hopefully he doesn't tell me that you can't get the cold weather package with the leatherette too! SOunds like they want me to get a pkg with leather, and I am trying to keep the car down to just the basics ..... ugh!
BMW Financial Services' January buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 sDrive 28i with 15,000 miles per year are .00130 and 57% for consumers who qualify for its top credit tiers.
The numbers for the xDrive would be exactly the same.
the only cash incentive that is currently available on this model is $750 owner loyalty cash.
If you can get employee pricing, it certainly would be much easier for you than negotiating.
Car_man
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