2013 and earlier BMW X1 Lease Questions

kyfdx

Ask your BMW X1 lease questions here!

tony411la

I currently have a 2013 X1 xdrive 28 on order, completely loaded M-Sport, MSRP 47,220. It should arrive at the end of this month. Could you please tell me the current MF and Residual? Thx.

CarMan@Edmunds

I'd be happy to tony411la. BMW Financial Services' August buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 xDrive28 with 15,000 miles per year are .00145 and 57%.

Car_man
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tony411la

Thanks Car_Man!

CarMan@Edmunds

You're very welcome tony411la.

Car_man
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leeshuck

Car_man or kydfx:

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

awu0419

Hi Car_man,

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.

stillwaterla

Hey guys,

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!

jmcbmw

The Bank Fee is standard for all leases and you cannot get out of it. Some call it an acquisition fee. BMW's base bank fee rate I believe is $725 and the doc fee of under $100 isn't bad (I recently paid $75). You can double check the base rate bank fee but I'm pretty sure this is the lowest it gets for BMW. Considering I have seen dealer finance departments mark up the bank fee $100 to $200 and other charge hundreds for doc fees, you're getting a good lease deal if the selling price is near invoice.

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 !!!

CarMan@Edmunds

Certainly Lee. BMW Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 xDrive28i with 10,000 miles per year are .00145 and 57%, respectively. The numbers for an otherwise identical 42-month lease of this vehicle are .00145 and 51%.

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.

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CarMan@Edmunds

Hi awu0419. .00145 is the lowest possible money factor for a lease of an X1 right now through BMW FS. It doesn't really matter how high your credit score is...as long as your score is over 675 you will qualify for this factor.

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.

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awu0419

Hello Tony411la,

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.

awu0419

Thanks Car_man,

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?

CarMan@Edmunds

You're very welcome awu0419. Which is better really all depends upon your circumstances. If you're the type of person who keeps their vehicles for a number of years then you may want to consider financing. If on the other have you are the sort of person who gets a new vehicle every couple of years then you definitely want to lease. BMW's inflated residual values usually make leasing a very attractive option.

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awu0419

Hi Car_man,

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.

CarMan@Edmunds

You're welcome awu0419. Some of the charges that you mentioned certainly do look silly, such as the "Shop Supplies" and the "Vehicle Detailing." These are just business expenses that all dealerships have to pay but usually don't break out separately. The "Administration Fee" is also often called a doc fee. Despite how annoying they are, most dealers charge them.

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.

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netarc

I'm surprised to see lease rates here in SF being quoted at 0.00185, in light of the .00145 I've been seeing mentioned here, in other forums and at http://www.ridewithg.com/index.php/2012/09/2013-bmw-lease-rates-september-2012/

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?

nyc_eng

Car man, can you tell me what the residual is for a 2 year lease on an X1, 15k/year?

Thank you!

CarMan@Edmunds

Hi netarc. The reason why the dealers are quoting you a higher money factor is that they are marking BMW FS' buy rate up. This is pretty typical with BMW dealers, particularly on new models like the X1. If you can, try to find a dealer that will calculate your payment using the .00145 buy rate.

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CarMan@Edmunds

Hi nyc_eng. BMW Financial Services' September buy rate lease money factor and residual value for a 24-month lease of a 2013 X1 2.8 with 15,000 miles per year are .00145 and 57%, respectively for consumers who qualify for its top credit tier.

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leeshuck

Thanks Car_Man,

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

leeshuck

That should be: $500 from my BMW rewards card (not car);-).

nias

Thanks Car_Man and company, this forum has been very helpful and informative (well, let's test that) ; ) Love some feedback whether I did right or not....

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?

CarMan@Edmunds

Hi nias. The truck that you described has a spread of a little over $3,000 between its MSRP and dealer invoice price. That probably puts you at around $800 or so over invoice...which sounds like a good deal to me.

The money factor and selling price look good, but I personally wouldn't have made such a large down payment.

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leeshuck

I received a quote yesterday for the X1 xDrive35i 10,000 miles/year 36 months. The L.E.V.% is 62. I assume this is the same as Residual. Did the residual go up in October? Is the money factor still .00145?

Thanks,

Lee

CarMan@Edmunds

Hi Lee. BMW Financial Services' October buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 xDrive35i with 10,000 miles per year are .00135 and 62%, respectively for consumers who qualify for its top credit tier.

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timo12

Hi Car_man,

Would the .00135/62% be true for the sDrive28i as well? At 12K miles, does the residual drop to 60%?

Thanks!

CarMan@Edmunds

Hey timo12. BMW Financial Services' October buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 sDrive28i with 10,000 miles per year are .00135 and 60%, respectively for consumers who qualify for its top credit tier.

With 12,000 miles per year, this vehicle's residual would drop to 59%.

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gbriank

Carman:

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

CarMan@Edmunds

Hi Glenn. BMW Financial Services' November buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 xDrive28i with 15,000 miles per year are .00125 and 57% for consumers who qualify for its top credit tiers.

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.

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cartman503

Does the two cash rebates also reduce dealer invoice? For example if I agreed to $1000 over invoice then would I be able to take that amount off the "$1000 over invoice" price ?

allanny13

Hi Car_Man,

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!

hattri

Hi Car_Man,

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!

targetx1

My dealer is using a money factor higher than what I've seen posted here (0.00165) and I'm trying to secure a 3-year /12K miles lease payment of ~$607 on an X1 (MRSP of $37090). Part of the trick is a trade that is involved where I'm adding about $2K in negative equity to the deal. My planned down payment is $1650. Am I off on my expectations? Their current offer stands @ $642.

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!

CarMan@Edmunds

Hi cartman503. The semantics are between you and the dealer, but dealerships don't foot the bill for the cash incentives... BMW does. So if there is a $1,000 cash incentive on the vehicle that you want, in a way I suppose that one could say that its dealer invoice price is $1,000 lower.

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CarMan@Edmunds

Hello allanny13. BMW Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 xDrive28i with 12,000 miles per year are .00125 and 59% for consumers who qualify for its top credit tiers.

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.

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CarMan@Edmunds

Certainly hattri. BMW Financial Services' December buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 sDrive28i with 10,000 miles per year are .00125 and 60% for consumers who qualify for its top credit tiers.

There is a $500 cash incentive for everyone and $750 loyalty cash on this vehicle this month.

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voldermort

Hi Car_Man
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:

voldermort

Hi, I'm just wondering if you have gotten around to reading my post from yesterday.
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

x1_buyer

Can anyone help me do a sanity check on this lease? It looks WRONG.

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!

kyfdx

1) You say the tax is on the lease payment, but that work sheet shows a tax amount that would suggest it's on the whole selliing price..

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...

x1_buyer

Yeah, they claim it's not the tax. I'm going in today to learn more. Below is my calc...

x1_buyer

kyfdx

Your math is right... but, with $0 due at signing, you'd have to capitalize the first payment.... That would add around $17/mo... Something tells me there is a big doc fee in there somewhere, and maybe something else they didn't disclose, like a wheel insurance policy..

All that will show up in the capitalized cost, if so..

The other possibility is they are marking up the money factor....

x1_buyer

Thanks. I'm glad to hear that I'm at least doing the math right. (And it does match all the online calculators.) I'm headed in tomorrow to figure out what the extra $$ is all about.

voldermort

What is meant by "Net cap Cost"? How did you get that number?
Thanks.

timo12

That was essentially the sum of other fees, rebates, etc that was being capitalized for the lease.

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?

CarMan@Edmunds

Hi Hermie. Of course, the correct dealer invoice price is listed here at Edmunds.com . You can look it up over in the New Vehicle Pricing section of Edmunds.com.

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.

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jalmanzar

Car_man:

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!

voldermort

Thank you car_man.
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!

CarMan@Edmunds

Hi jalmanzar. I am not intimately familiar with what the market is like for the X1 right now, but if I was interested in getting one in an area that has a decent level of competition I personally would shoot for a selling price of $500 or so over invoice minus any available incentives.

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.

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