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Need some help in determing if we got a good deal. 2014 BMW X3.

jacmaxijacmaxi Posts: 1
edited October 2014 in BMW
We are hoping to lease a 2014 X3 3.5i, Alpine, Black Interior. I do not know much about leasing..Thanks to your sight I have learned about "Money Factor" "Residual Value" and much more. I was not told ( I did not ask) what the money factor or the residual value of the car was.

Here is what the dealer is offering us..
The car has a MSRP of $53,075.00 with Options. They have agreed to reduce the price by $6,000.00 because the car has 6,000 miles on it. We have a trade in they are giving us $5,000.00. They want us to put down an additional $2,000.00. They put in a capitalized cost reduction of $3,217.00, Bank Acquisition fees of $725.00. The lease is for 36 months with 20K miles per year. The monthly payment is $597.00.

Comments

  • kyfdxkyfdx Posts: 119,942
    jacmaxi said:

    We are hoping to lease a 2014 X3 3.5i, Alpine, Black Interior. I do not know much about leasing..Thanks to your sight I have learned about "Money Factor" "Residual Value" and much more. I was not told ( I did not ask) what the money factor or the residual value of the car was.

    Here is what the dealer is offering us..
    The car has a MSRP of $53,075.00 with Options. They have agreed to reduce the price by $6,000.00 because the car has 6,000 miles on it. We have a trade in they are giving us $5,000.00. They want us to put down an additional $2,000.00. They put in a capitalized cost reduction of $3,217.00, Bank Acquisition fees of $725.00. The lease is for 36 months with 20K miles per year. The monthly payment is $597.00.

    I can't really comment too much on your lease, because I don't have access to this month's numbers on 2014 X3 models..

    But, if you have a $5000 trade and $2000 more in cash, with a CAP cost reduction of $3217, then we need to know where the other $3783 is going.. 1st payment of $597 and acquisition fee of $725.. That's only $1322. Maybe your state taxes the lease upfront? Title and registration fees? Dealer's retirement fund?

    Some other things to think about... Are you worried about the vehicle being out of warranty and maintenance plan for the final 16K miles of the lease? $7000 upfront and $597/mo. is about $775/mo. in real money.. That's a lot.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

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