2013 and earlier BMW X3 Prices Paid and Buying Experience

kyfdx · September 2005

I added it up.. just listed it twice.. Didn't pay it twice...

drtravel · September 2005

I went ot the bmwusa web site and tried to calculate the details of their lease special (why don't they ever publish the money factor?). Here's how I derived the $349 figure:

MSRP = $36,995
Sales price = $33,420 (you pay $2,500 upfront plus they discount the car $1,075)
Residual = 63% ($36,995 X 0.63 = $23,307)
Money factor = 0.0012 (came from the X5 leasing forum)

Payment is $348.99 plus tax

The residual value is given in the ad (36 mos 10K miles) - I don't know what the money factor is for September but it was 0.00075 in August. Of course BMW dealers are known for bumping up their money factors so I would wait until I know what the official money factor is.

Anyone have any further info to share?

kyfdx · September 2005

I think you are pretty close.. except, instead of "Sales price", I think you mean "Cap cost"..

Most of BMW's advertised leases assume a discount from MSRP of around $1000...

And, you are correct on the residual and money factor for September... 63% for 36mo/30K, and .00075 for the money factor... That is a new money factor for September.... It was higher in August..

regards,
kyfdx

drtravel · September 2005

I had the money factor as 0.00075 in August with an increase to 0.0012 in September. Is this correct? Your message indicates that 0.00075 is still used for September.

Do you know what the numbers for a 36mo/36K lease are?

kyfdx · September 2005

X3 3.0i

36 mo/36k mi  62% Residual Value  Money Factor .00075 Base Rate

drtravel · September 2005

It looks like for the X5 the money factor jumped up to 0.0028 although they are knocking $5,000 off the price. Better to buy the X5 and lease the X3.

kyfdx · September 2005

I agree...

timmboj · September 2005

What is the residual on a 15K/Year lease?

timmboj · September 2005

Sorry, disregard my last post. I found the residual info in the X3 Leasing forum.

newbmr · September 2005

I have followed this forum for the last 2 years or so and have found it to be of tremendous help. I desperately need your valuable input.

KYFDX, please help me with this. I have a 2004 X3 2.5 that I bought new in Mar '04. It has ~11k miles. I would like to trade that in and get a 2005 X5 3.0. especially since X5 has a $5000 incentive.

Here is the scenario:

2004 X3 2.5
Auto
Panoramic Moonroof
Privacy Glass
Alarm
Jet Black ext/black leatherette interior
I have approx. $14k auto loan remaining on X3.

I want to buy: 2005 X5 3.0
w/ Prem. Pkg
Auto
Alpine White/Jet Black

Questions I have are:
1. Can I do this transaction? i.e. will my bank and the dealer be okay with it?
2. Is there a way to refinance the loan to assume the difference of the cost and the value of the trade in?
3. Would I have any leverage while negotiating the price down for X5 given that I will also have to negotiate the value of the trade-in (X3)??
4. What is a good way of going about this given that I want to buy and not lease and that I will need to take a loan to come up with the difference?

I would truly appreciate any advice you can give on this topic.

Regards,
newBmr

kyfdx · September 2005

1) No problem.. this is done every day.. Almost everyone that has a trade, also has a loan on it..

2) When you trade in your car, you don't refinance the loan.. The loan is paid off from the proceeds of your trade, then you take out a new loan for the new car.

3) Leverage is about the same... You need to have a good idea of the value of your trade-in.. A lot of people say you should negotiate the sale price of the new vehicle first, then have them value your trade-in.. That is fine, if you think you might keep your old car, or sell it yourself.... But, if you have to trade it in, to complete the deal, then the only number that matters is the difference between the price of the new car, and the trade-in value of the old one.

4) Example.. New X5 has a selling price of $42K.. Trade-in price for the X3 is $25K.. The difference is $17K.. The new loan, assuming no further downpayment, would be $31K ($17K difference + $14K balance on old loan).

regards,
kyfdx

cimedman · September 2005

Our "new" X3 2.5 has never been titled and is an '04. It was in dealer service as a loaner car for 9 months and had 10K miles. It was pretty base-y, with only panorama sunroof, auto and a few minor add ons. But has everything we need.
With these cars, BMW gives the dealers a credit every month of use, so they have to sell them after a few months, but BMW also allows the dealer to extend the basic warranty to 55 K miles and additional months, also. In our case, the dealer also gave us the Certified Pre-Owned Warranty, 72 months and 100K miles. Good deal for $27.9K, huh?

cimedman · September 2005

Hey, newBmr...
The probs I see with your transactions are:
1. There are three transactions involved, separate them all to get the best overall deal:
a. The purchase (shop for the best price)
b. The trade in (sell it yourself instead and get the most you can)
c. The loan (shop for the best rate, credit unions etc have the best deals. get pre-qualified for the amount you want to borrow.

2. Don't let the dealer handle all three. They will give you a good deal on the price (you are enamoured with the $5K incentive), but not a good deal on the loan rate nor the trade in. I got a point less with my credit union than with BMW dealer's best rate.
3. Trading in.... you can probably get more selling on Autotrader.com or Cars.com, etc if you can wait a few weeks to attract a buyer and not be too greedy on price. Dealers are not giving good trade in offers on used SUVs now. Also, after direct sale you have your cash equity in hand and are in a stronger negotiating position with the dealer, not having to worry about whether you get a good price on the trade in. If you sell your car and need another while you are shopping, you can just rent one for a couple weeks cheap, don't let the pressure of needing a car force you into buying fast.
My advice... separate the transactions and deal from a position of power.

markjenn · October 2005

On the selling yourself vs. trade-in question, it is important to recognize the tax implications. Some states charge sales tax on the entire new vehicle price, some only on the difference between the new vehicle and trade, and some allow a tax credit if you sell a vehicle privately and purchase a new vehicle within a set period of time, typically 90 days.

If you are unwiling to sell a car yourself, then I have always believed that separating the new car vs. traded car negotiations is not a good idea. It is silly to negotiate on a new vehicle price, then introduce a trade, then do another round of negotiations on the trade the nullifies the first round of negotations. You also are in a position of weakness on the trade negotiation if you've already agreed to buy the new car at an agreed-upon price, but need to get rid of the used car in the transaction.

My experience also is that the difference between new car prices at dealers is typically small, but their trade in allowances, which involve a lot more judgement, vary much more. So negotiating on a single number that involves the trade makes more sense in cases where you are unwilling to sell a car privately or where the sales tax consequences are unfavorable for a private sale.

Good luck,

- Mark

malabarka · October 2005

Please if you have some recommendation to let me know what was your experience, I am looking for the same/very similar model,
thanks a lot!
MB

ladi · October 2005

Is this a good deal? It sounds like a rip off. How do I negotiate it better.
All my options - Metallic paint, Nav, Premium pkg, Privacy, Cold Weather.

Cap cost of $40,670
Acq fee $695

Not sure yet on all the other numbers..we were on the phone. The bottom line is that it works out to $622/mo.

I am in NY 7.375% tax. 12k, 2yr lease. HELP!!!! What should I go in there with to get a good deal?

kyfdx · October 2005

Before a lease deal can be evaluated, you need a lot of information...

MSRP
Selling Price
Lease term (3yr/36K, in this case)
Amount due at signing
Monthly payment (including tax, or not?)

Once you have all of that information, post it here:

BMW X3: Lease Questions

regards,
kyfdx
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ladi · October 2005

Thanks for responding. Okay, here is the deal:

My options: Prem, Nav,Cold Weather, Privacy, Metallic paint, Auto for a MSRP of $42,195. I am interested in the lease prepay option because financially, it works out better for me right now. So she first gave me a selling price of $40,670 and then a lease prepay option price of $17,654.61 at $622/mo for a 2 year prepay lease and 12k miles.

I left her a message to offer a selling price of $40,570 but that would now include the Premium Sound option. On the prepay price, I am asking for it to be bumped up to 15k miles and rounded out to $17k prepay price.

I just felt like all of her numbers were based on the MSRP and who pays that.

How does that sound? What might she come back and say, then what do I say?

The second piece of this puzzle that has not been addressed yet is that I have a lease trade-in (Jeep) and I have 8 months left on it ($3000) The residual is $12k and the car has 68k miles but is in excellent condition. That will be factored in afterwards so what might that look like? How would I handle her with that?

Sounds a little complicated though.

Thanks for your help.

kyfdx · October 2005

Well.... you are all over the map here...

The prepay lease is going to be hard to evaluate.. But, before you said it was a 3 year lease, and now you say two? If that prepay is for a 2 year lease, it is very expensive.. which is not surprising, as the two year lease numbers for the X3 are not that great...

We'll just assume that you still are looking for a 3yr/36K lease..

With an MSRP of $42,195 and a Cap Cost of $41,295 (selling price + $625 acquisition fee), the payment should be about $539/mo.plus tax.. Or, around $580/mo. including tax...

So, the $622/mo. looks high... like, maybe they are marking up the money factor...

Of course, all this is moot, as they haven't valued your trade yet... It is possible that you are many thousands upside down on the Jeep.. You say it has 68K miles? What is your mileage allowance?

regards,
kyfdx

ladi · October 2005

Yes, I did say 3 yr before because I wanted a general idea. I then realized that with prepay, it is figured differently so I needed to be more specific.

It is the $17,654 is the price of a 2 yr lease. That is supposed to be with taxes and all the fees included. She said that it came out to $622/mo. She said something about it being because they have a deal now and that they really try to discourage prepay so the interest is a little higher. In my notes I have a 4.2% interest rate she gave me. My plan is to buy out the X3 at the end of the 2 yrs though.

I also thought that if I figured out the purchase part first, then whatever came of the trade-in will just be figured in on the top. But I wanted a fair price to begin with. I am already 8k over my mileage, which is why I am looking to get out fast. Had to do a lot more travelling then expected due to an ill parent during this lease term. so I am trying to get out and into an X3 as painless as possible.

My hands are pretty tied as to my options so I have a preapproved bank check which is why I am wanting to just prepay for 2 yrs and get a much lower monthly payment at the bank. As opposed to paying $500-600/mo for a regular lease.

So, with that, what do you think this route looks like?

kyfdx · October 2005

$17,654 divided by 24 payments is $736/mo...

So, I surely wouldn't do that...

The 4.2% is equivalent to the money factor of .00175 on the three year lease.. But, I think they are marking up the money factor...

Your selling price looks okay for an '06... I think a 3 year lease at around $580/mo. would be the way to go...

But, I think you are going to be way upside down on your Jeep... Is that a four-year lease?

regards,
kyfdx

ladi · October 2005

Yes, my Jeep is a 4yr lease. Please explain what it means to be 'upside down'. Are you meaning that that what is owed on the car is more than what it is worth? If so, how would that effect this new lease? Would they take my additional months, say $3000 owed and roll that into the selling price of the X3?

Again the $17,654 reflects, $622/mo, plus tax(7.375%) and fees. So, the tax is $1308, fees would be another $300 or so...maybe? That brings us down to $16046 for the total of 2yr prepay lease. Then I guess the money factor comes in at 4.2% ($675)bringing it to $15,371. In my head, this is how it works, no? So then, that comes out to $640/mo. Which may mean the fees are a little more than $300.

So if those figures are realistic, I am offering $17k, so it would possibly look like this:
Taxes:$1253.75
Fees:$300 or so
Interest:$714
Lease Price: $14732.25

So the monthly is $613.84 which is still higher than your numbers for the 3yr. So you think that perhaps a 3yr prepay would be a better situation?

You have been very helpful and I appreciate your time and input.

Thanks.

kyfdx · October 2005

1) Yes.. upside down = owe more than the car is worth.. This may be way more than just the total of the payments.... When you trade in a leased car, the payoff is the residual + the payments (more or less).. In your case since you have a nearly 4-year-old car with 68K miles, that could be way more than $3000.. If your residual plus the payments is $15K, but the dealer only puts a $9K value on your trade, then you would be $6K in the hole.. BMWFS (the leasing company) may not allow you to roll that much negative equity into your lease..

The leasing company will not allow you to just make the remaining payments and turn it in, before the lease term is up..

2) I'm having a little trouble following your math.. but, suffice it to say.. . that isn't the way they figure a prepaid lease.. If you take the pre-pay amount, and divide it by the term of the lease.... then that is your approximate effective monthly payment.... Over $700/mo., in your example..

Prepaid leases are more complicated than traditional leases.. I wouldn't recommend entering into one, unless you are financially savvy...

Another thing... I think you said you had a preapproved check? Is that for a car loan? Because, if it is... you can't use that to prepay a lease... That is only to purchase a vehicle..

First, I'd see how much it is going to cost to get out of your Jeep lease... Once you find that out, getting into a new car now, may not be an option..

regards,
kyfdx

ladi · October 2005

Got it! Thanks so much. I did not know that about the check either. This puts a competely different spin on my car options, as you have said. Thank you for informing me.

div2 · November 2005

What monthly payment should I shoot for on a 36(or 39 if the money factor and/or residual is better) month lease of a 2005 X3 3.0 with a MSRP of $38195? No cash down or security payment. The long term plan is to buy it at the end of the lease, so the miles per year isn't an issue. Thanks!

kyfdx · November 2005

$38195 MSRP
$36000 Selling price (invoice is $35,005.. so..guessing)
$36625 Cap cost
3yr/30K lease
Residual 63%
money factor .00075
Payment = $394.46/mo.+ 6% KY tax = $418.13/mo..
Due at signing = 1st payment ($418), security deposit ($450), and title/license fees ($115).. Around $1000 total.

3yr/36K, residual 62% = $429.08 including tax.
3yr/45K, residual 60% = $450.96 including tax.

Obviously, I don't know your driving needs, but I'd encourage you to at least step up to the 12K mileage allowance, if you think you might use it.. Even if you plan on buying it, your needs or wants might change, and it is good to have the option of turning it back in, if you need to.. $11/mo. is awfully cheap to get 6000 extra miles.. those extra miles would be $1200 at lease end, if you had to pay them as overage...

Different selling price? The delta is $3.03 tax inclusive for every $100 difference in selling price, assuming the 3yr/36K lease..

regards,
kyfdx
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(who will have a new car in the stable, as of this coming Friday..

)

div2 · November 2005

Thanks for the assistance. I really wasn't planning to ditch the 5er, but my wife REALLY wants an X3. I tried to convince her that the Soob STi is an SUV but with little success. I guess I should have suspected something was up when my wife told me to go ahead and buy that Speed Triple I found in Crestwood.
So, what's your new ride?

kyfdx · November 2005

Yeah.. what is it, with women and SUVs?.. My wife loves the X3... If it were entirely up to her, I think that would have been the choice... as the lease deals are pretty darn good..

But, I got a pretty good lease deal on an '05 330Ci convertible.. silver-gray with black leather and top..

They gave me a decent trade on our 325i, but a friend of mine is giving me a little more for it, so it goes way on Thanksgiving, and we get the new car on Friday..

Oh.. what is a Speed Triple?

regards,
kyfdx

div2 · November 2005

It's a Triumph motorcycle. Mine is a first generation 1996, which means it has the 885cc inline three, a six speed tranny, and "only" 100hp. It's kind of a cafe racer/streetfighter.
That '05 sounds fantastic. I think the E46 cabriolet is the best looking droptop 3er ever.

kyfdx · November 2005

Nice bike...

I guess we'll see about the convertible.... I'm waiting to hear the complaints, "Too noisy... my steering wheel shakes when I hit big bumps"...

A little worried about the practicality of it, for a family of three... We've got another car, but it is still just two vehicles for two drivers, so it will be put to use...

I'm sure everything will be just fine, when the top is down.

thanks,
kyfdx

cinn · December 2005

My wife is hot for a new X3 and since I am hot for her we are looking. Decked out X3 with sticker at $44,420 includes Nav, Premium pkg, xenon, 18" wheels with all season tires, heated seats, park assist and more. Cash deal with no trade. He has gone down to $42,900 and it still seems to be room (at least to me) for a bit more. I guess the question is "am I being unrealistic to want to get down below 42K? The car is on the lot and ready to go so there is no looking for one or ordering. I don't mind writing the check, but I want the best deal possible. Told him I would think about it tonight, but don't know if its worth the extra bucks. Thanks for any input.

bdr127 · December 2005

I don't think it's out of the realm of possibility to get under $42k... but the X3s are selling like hotcakes, so it's less likely that a dealer will sell one for that. To get an idea, the Edmunds TMV for that X3 is $43469. That's what other people are paying. If you're $500 below that, then I'd say you're doing better than most.

cinn · December 2005

Thanks. I'll sleep on it tonight. I think that I may max at 42K just psychological on paying between what they pay and what they charge. I want them to make a profit---just not all from me. :shades: Appreciate it...

kyfdx · December 2005

Is it an '05 or an '06?...

On an '06, I'd want to be $2K under the MSRP... I don't know if you'll get to $42K, but it is definitely possible..

It is hard to say what one specific dealer will do... To get the lowest price, you have to be in a competitive situation... either with another BMW dealer, or with a competing model...

regards,
kyfdx
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cinn · December 2005

06 for sure. She also likes lexus but wasn't keen on waiting for the one she wanted. Also she likes an 06 X3 on another dealer's lot with msrp of 41170 that we can get for 38500. Of course this one has a lot of toys on it (and if mamas happy, everybodys happy). You gotta figure that it's on the lot and a cash deal. They still get a pretty good profit for an hour's work (we didn't even test drive theirs since we had driven the other one just a day earlier. again, thanks. By the way, I was really impressed with the test drive. Couldn't have convinced me that I would like it before, but big WOW factor compared to what I expected. We'll probably be getting one, just not sure which one.

kyfdx · December 2005

Unless the options are something that you really, really want, I'd go with the cheaper model... When I priced out a relatively well-optioned X3, I came in around $41K for the MSRP..

An extra $3K-$4K in options will be worth about $500 at trade-in time... If they are options you want, then it may be worth it.. but, otherwise, take a pass....

I think the X3 is a great drive for an SUV..

regards,
kyfdx
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div2 · December 2005

If you don't mind driving a 2.5, there are some really good CPO deals out there. My wife and I recently picked up a 16K 2004 2.5 with Step, PP, CWP, Heated Wheel, Leather, Privacy Glass, Satellite Prep and Xenons for $29595+TTL. Our dealer was Swope BMW in Louisville, KY. We are extremely happy with our new(to us) SAV and the dealership.

gracie2 · January 2006

Hi - I am looking to lease a 2006 X3 3.Oi and would like to get an idea on the price I should be paying. The invoice price according to Edmunds is 33,670. I would like to add the following options, Premium package, Nav system, parking sensor control, servotronic steering, satelite prep,heated front seats. I am not sure if adding the rear side airbags makes this a safer car or not (dealers have told me that the rear side door airbags are not necessary because the car comes standard with side curtain airbags). I have teens who will be sitting in the back. The invoice price of the options runs about 4,990 without the rear door airbags. What would be a good starting point for negotiation of the total price. Also if you could give me some insight on leasing. I know that I will be putting around 15k per year. Can you give me an idea on a fair price and break down the lease for me? Thanks,

kyfdx · January 2006

1) Don't forget to add the destination charge of $695 to the invoice..

I'll just use an example, since I'm too lazy to figure out the MSRP with your exact options..

Also, I'll use December numbers, since I don't know the January numbers..

$43,005 MSRP
$39,385 invoice
$40,385 Selling price (invoice + $1000) seems fair
$41,010 Cap cost (selling price + $625 acq.fee)
3yr/45K lease
Residual 60%
Money factor .00175
Payment = $540/mo.+tax
Due at signing = 1st payment, security deposit, title/license fees (Approx.$1400-$1500 total)

Hope this helps.. in another week, we'll know the January numbers, and can give you something more specific... but, this is a ballpark, at least..

regards,
kyfdx
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raver8 · January 2006

Here's my deal: 04 BMW X3 3.0i w/ every option but heated seats and heated wheel - ie - Premium & Sport, air, auto, 18" alloys, big moonpie roof, Nav, leather, Xenons, parking detectors, premium sound, etc in "silbergrau" anthrocite/grey leather w/aluminum trim and only 12700 miles. Mint condition - only one pin-hole (gravel) in front bumper near grill.

Dealer ask was 34,991. My firm offer was $32K flat - cash.
He countered at $32,690. I walked (headed for the exit door - he said split the dif, so I said: do U mean $32,300? He said YES and I said write it! MSRP on original sticker was $49,430. Low milage was dealer employee (techie) who traveled by airplane. Car spent last two years at airport parking. HAHAHAHAHAHAH!

I ran Edmunds at 38,495 for my locale, and he ran kbb at 40K
why he took 32300 is beyond me. Oh - he was a VW dealer!
Wife and I love it - tired from detailing it all day today.
I think I did OK, bought on implulse - starting looking for a Forrester/CRV or Rav4 in low 20's. Couldn't resist - am I ok? edited typo MSRP price to $49,430. (almost NEW!!!)

gracie2 · January 2006

Thanks - but is the $1000 above invoice for the added options? I am confused -

kyfdx · January 2006

Yes.. $1000 above invoice includes the options...

bobbyr35 · January 2006

My wife and I picked-up our X3 on Saturday. Here is the options and price.

X3 3.0L PA93 $32,500.00
Steptronic 205 inc
Saphire black 475 $ 475.00
Black leather LGSW inc
Premium pkg ZPP $ 1,800.00
18" Alloys (all season tires) 2CB $ 500.00
Aluminum trim 439 inc
Privacy glass 761 $ 350.00
Satellite radio prep 693 $ 75.00

Subtotal: $35,700.00
Germany freight $ 200.00
Paperwork fee $ 80.00

Total Delivery price to our door step: $35,980.00

This was a great buy (bimmer number five) for the money. I was set on buying an X5 3.0. However, once you compare the price and look at how much room you must have in your SAV I was sold on the X3. I am driving the 2005 Z4 that I bought for my wife last year, but now she will be the primary driver of the X3. The xDrive on the new Bimmers is great in the snow and ice.

tpcleary · February 2006

ANy idea of the money factor for Feb?

kyfdx · February 2006

.00125 for leases up to 36 months.... that is down from .00175 in January...

timmboj · February 2006

I've seen on the BMW website that they'd charge $325 for the Sirius Satellite, but what does a dealer charge including installation? Also I'm interested in finding out the cost of the Universal Tranceiver including installation. I just want to make sure my dealer will be similar to what others have paid.

kyfdx · February 2006

Hi, timmboj..

You might also ask this question in the general BMW X3 forum:

BMW X3

regards,
kyfdx

timmboj · February 2006

Hey kyfdx, I just got this e-mail from the Sam Swope dealership in Kentucky. Basically they're offering 1.9% interest. Do you think its legit? Is there a national program offering 2.9%?

Their e-mail says: "February is the best time to buy a new BMW. BMW Financial Services is offering a rate of 2.9% for up to 60 months. BUT! if you print off this e-mail**, we will lower the rate to 1.9%. This is a simple interest loan for up to 60 months! Think about it. The difference in interest charges on $50,000.00 financed for 60 months using 1.9% instead of 5.9% is over $5,500.00. Rates are going up everywhere, except at Sam Swope BMW, but only for a limited time. We can lock in this rate for 60 days if you need some time to think about it, but we need a credit application submitted by you no later than 12:01a.m. on February 28th, 2006. ** All of our advertising states 2.9%, even on our web site. This 1.9% rate is available only to those that receive this e-mail from us. You MUST print this and bring it with you!"

kyfdx · February 2006

I know my local dealer is advertising 2.9% 60-month financing from BMWFS.. But, my dealer usually marks up any promotional rate from the actual rate supplied by BMWFS.

So, there are two possibilities..

1) BMWFS buy rate is actually 1.9%, and Sam Swope has decided not to mark the rate up the maximum 1% that BMWFS allows..

2) Or, the rate is really 2.9%, and Sam Swope is buying the rate down to offer the lower rate (meaning they will have to make it up somewhere else).

I'm betting on #1

Either way.. it is a great deal..

regards,
kyfdx
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div2 · February 2006

FWIW, I've purchased three BMWs(535is, 528i, X3 2.5) and one Nissan(Pathfinder SE) from Swope and each time I've been pleased with the entire transaction. The dealership is fair and honest-no games and/or tricks.

2013 and earlier BMW X3 Prices Paid and Buying Experience

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