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Comments
MSRP $43,920
Sale Price $41,785 ($1375 over invoice)
36 Months / 10,000 Miles
Residual 68%
Money Factor .0015
Acquisition fee $625
$0 cap reduction
COD (Sec dep, tax, license, 1st payment, etc) ~$2300
Monthly Payment $456
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1) Your sales advisor doesn't know anything about mechanical things, either.
2) Never ask someone in sales about what might be wrong with your car.
3) I agree.. they probably never checked the oil to begin with. Forget the CPO inspection. Every time your car comes into the service bay it should be checked.
4) It sounds like you were only a quart low, in total. While I wouldn't be happy about driving 600-700 miles under that condition, when you expressly brought the light to their attention, you didn't likely do any damage.
The only thing that bothers me... is the light was on.. then when you picked it back up.. it was off.. Then, 600 miles later, its on again.. It could be just an intermittent problem with a sensor. Which of course is a better problem than an engine that is burning or leaking oil (and really.. on a newer car..that would be very rare).
I'd just keep a close eye on it for awhile. If you see any further problems, contact the service manager. Your salesperson probably won't be much help.
Hope that helps,
kyfdx
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For anybody that has actually "bought" an 07 X3, please post what kind of deal you got, that would be very helpful! Thanks!
One reason that a lot of people lease the X3 is that the residual numbers provided by BMWFS are extremely high for this model.
65% residual for 3yr/45K lease is probably $2K higher than the typical BMW lease.. That translates to a lease payment that is close to $60/mo. lower than you would expect.
regards,
kyfdx
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I'm looking at a new X3 vs. a swapalease lottery X3. Without going into too much detail I "KNOW" someone in the high management of a BMW dealership, and work with them regularly, so I probably/might be able to get a BMW around invoice, based on past deals of the like (assuming there's a holdback that at least pays for their costs & sales comission)
Anyway, Looking at the present month's lease offer (feb 07) it appears, if I'm looking at it correctly that it's pretty subvented.. The residual calculation appears to be 78% which is super great, right?
(see terms here: http://www.bmwusa.com/vehicles/X3/30si/programs.htm?PanelID=4&duration=24)
At the end of the day, these are still car dealers, and they're still going to try to make money off me, so I want to make sure to get the best deal possible on the lease.
My question is, "What should I ask for?"
I realize that 78% is calculated at 24 mos, 10k, and I'm probably going to be wanting either 24 mos 12k or 36 mos 12k, so I can be sure to have a lower residual %. Will this % reflect that the 24/10k is 78%? (ie just a couple of % lower) Or will "changing the specifics" pretty much undo the promotional residual in this offer?
Furthermore, are they going to use the "good price" that I might be getting in their calculations, or am I going to get screwed by the actual MSRP somehow?
How does "dealer contribution" factor in? I'm not sure I completely understand from the fine print, "Dealer contribution may affect terms." which is on all lease deals? Are they spending out pocket money to close this, therefore I can't expect to get it at invoice, because they will have to go too far into holdback to get the deal done?
I'm planning to put NO money down on taxes and "down payment" (cap cost reduction) if I can.. Does anybody know if that will affect the residual %?
Reading over this, it sounds like I know less than I thought I've learned, but I'm starting to get it.. I understand money factor, and how the % of residual affects the payment ammount.
I am pre approved through the BMW website, so I assume we can get the deal done, but given the choice of waiting a few months for a swapalease deal and having to pay more $$ per month, it's a no brainer. Let somebody else pay the Cap cost reduction, unless I can get a super good deal thanks to the subvented lease, and still get somewhat of a choice from my local dealer....
Thanks in advance for any help!
Cory
3yr/36K residual is 67%
"Dealer contribution" just means that the dealer has to discount the vehicle a certain amount from MSRP to achieve the advertised lease deal.. What they are saying is that an individual dealer may not choose to discount the vehicle enough to make that deal.
Cap cost reductions have nothing to do with either residuals or money factors.... If you have iffy credit, they may sometimes help you get approved. Any advertised deal that has a cap cost reduction can be structured without one.
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The only options were the BMW Assist and the heated seats. The vehicle price was $38,025, and the Sticker $39,945, including destination.
BTW: The dealer-installed hitch fits well - some folks had trouble with the fit and finish on them, I think mostly pre-2007s.
Just thought I'd pass along the deal I made on an X3 in Columbus, OH. Good hunting everyone:
MSRP: $43,370
Net Cap Cost : $40,965 (about $1K over invoice)
Acquisition Fee: $ 625
Adjusted Cap Cost: $41,590
Terms: 36 mo / 12K miles per year / $0 down
Residual: 67%
MF: .002
Acquisition Fee: $625
Payment: $492.23 / month
This site is a fantastic resource for this type of information. I would have paid much more without doing the research here. Thanks everyone.
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PLEASE let me know who you dealt with and where.
X3 MSRP $41,000
Sales Price $38,400
Adjusted Cap $40,571.64 Includes $825 Aquisition fee and some thing else.
67% residual on 3yr 12K year lease
Mulitple security Deposits Total of 8 $4,000 for a money factor of .00176
Payment = $483.68 including our 6.75% sales tax.
$4,500 due on delivery = MSD and 1st payment.
How am I doing?
Do you live in Ohio? I think they add the tax in upfront, so that would make sense..
It looks like they are working off a money factor of .00225, instead of the base money factor of .0020, plus they are marking up the acq.fee by $200.. (assuming the numbers are the same as February... no idea if they are).
Positives? $2600 is a very good discount...
If they used the base rate of .0020, and only charged $625 for the acquisition fee, then your payment would drop to $460.82/mo.
That number would be a great deal... Your number is pretty decent, though..
regards,
kyfdx
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Seems like I should be able to knock a few hundred off these fees and look into a lower rate.
Does anyone have the March MF rates on X3 with maximun Multiple Security Deposits?
1. Is there a way to find out what the average interest rate for someone with a 630 fico score would be without actually applying? I don't want to try getting approved until I hear back from the bureaus regarding an investigation I requested on some false/old info.
2. The reason I'm looking into a lease is so that I could upgrade to a bigger SUV in a few years.... when I plan to start a family. In your opinion(s), is this a good idea or should I just buy it? I'm looking to have a car payment of about $500.
Thanks for your help!
SUVCURIOUS
So, if you qualify, you qualify for the same rate as the guy who has an 800 FICO score..
If you are buying? Sorry, I have no idea of the interest rates for less than A credit.
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If this isn't who you're dealing with, you still should be able to get a lease deal without any mark up in the acq fee, doc fee, and money factor. Good luck with it.
Second question would be if anyone has used their BMW C.C. benifits toward their current lease - "up to 5ktowards your lease" - is this as simple and straight forward as it is presented????
I love the fact that this website exists - I have read the posts for some time now. This is my first post and it has been coming for some time now..My current lease is up in Sept. 07' and I intend on releasing another X3... hopefully by then the new 3 series 300 hp engine will be an option.
One last question - sorry - do you reciweve the same discounts when you order a custom X3????
Thanx for the help, you guys are a great resource....
The closest BMW dealer is Fletcher Motors BMW, but there are many other dealers within a 200 mile radius, including dealers in Hickory, NC, Greenville, SC, Charlotte, NC, Greensboro, NC, etc. Any help or guidance would be appreciated.
Enjoy the Ride!
Dealer is selling several and has told me "hurry,purchase it, it won't last." A quick reply would be greatly appreciated.
Thanks!
MSRP $44,000
Sales price: $42700(including MACO and training fees. I think this is about $500 over invoice.
$795 acquisition fee
.002 MF
$0 down
Approx. $1400 drive off costs.
$500 security dep.
Sales price of $44,320 $2000 over invoice 3 year lease (67% residual) using 3K down w/ 12K miles per year money factor of 0024 sales tax of 6.25% = $604.27 being your monthly amount. Does this seem reasonable?
By the way, none of the calculators seem to be generating this monthly payment. Has anyone used leaseguide.com's calculator?
24 mo/15k mi – Residual Value 75% of MSRP – .00200 Money Factor Buy Rate
36 mo/15k mi – Residual Value 65% of MSRP – .00200 Money Factor Buy Rate
48 mo/15k mi – Residual Value 40% of MSRP – .00320 Money Factor Buy Rate
60 mo/15k mi – Residual Value 32% of MSRP – .00320 Money Factor Buy Rate
Add 2% to Residual Value for 12k mi/yr and 3% for 10k mi/yr on all terms
Triston
From first reading, that deal doesn't look very good...
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Thanks a bunch!
SUVCURIOUS
With the lease deal currently in place, there is no way that I would buy an X3..
But, a good lease deal is all in the details... Just like buying, a good deal depends on the negotiation.
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premium package, xenon lights, park assis, 18" wheel, heated front, privacy, servotronic, cargo net, heated steering wheel,auto.
Msrp: $45,200, dealer offer: 3% off msrp, which is $1356. Got couple questions here:
1. it seems that people are looking for 5% discount, so I guess this is just an average deal?
2. so what month is the best timing you have more chance to knock off more msrp? such as December when dealer need to clear inventory?
3. Also dealer kindly mentioned that back seat side air bag is dangerous to kids, so I removed it. What impact the air bag would have on kids, any idea or examples?
thank in advance for your reponse.
I've got two strikes against me -- 1. I'd need to special order mine because I want the six-speed manual (I'll never find one of those sitting on the lot around here), and 2. I live in a one-BMW-dealer town (no competition).
Thanks for your reply. I haven't ordered the car yet. Still bargaining with the dealer. I think you are right, if I could find a car in the lot that might give more bargainning power. I talked to another dealer, they have to order it too, but they offer 4% off msrp, better than the first one. Let me keep trying and good luck to you too.
Is money factor a regional thing or should it be standard nation wide?
Thanks for your input - this site has been a very useful resource.
On a typical X3 lease, this will raise the payment by around $30/mo.
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====================================================
I was walking the lot today (Sunday), and noticed that you had a leftover '05 330 convertible.. in Silver Gray.. I think it is this unit from your website:
Description:
Exterior Color: Silver Gray Metallic
Interior Color: Black Leather
Engine: 6-cylinder
Transmision: Automatic
Packages:
Cold Weather
Safety Features:
Dual Front Airbags
Front Side Airbags
Traction Control
ABS (4-Wheel)
Features:
Xenon Headlights
BMW Assist
----------------------------------
I'd be interested in leasing this car, if you can do this deal:
$49,345 MSRP
$45,200 Selling price
$45,825 Cap cost (selling price + $625 acquisition fee)
3yr/45K lease
61% residual ($30,100.45)
Money factor .00075 (base rate)
Payment = $494/mo. + KY sales tax (approx. $525/mo. total)
Due at inception: 1st payment ($525), security deposit ($550), title/license/registration fees (approx. $200)
Total due at signing approx. $1300
Thanks for your time and consideration..
=========================================
I made almost that exact deal within 4 days.. My actual deal was for $200 more, resulting in a payment that was $529/mo... and my due at signing was $1196.
So.. it can work!!
regards,
kyfdx
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One particular dealer showed him a 2007 X3, which was VERY nicely equipped with a msrp around $44,xxx. The lease details are as follows:
$3,000 total out of pocket cash (clearly stated not interested in hidden fees, just want to write one check).
12,000 miles a year
24 month lease
$425 a month
I've seen a few people on this site with $500+ lease rates. Does this monthly rate ($425) seem about right, a bit sketchy, or simply a great deal?
Very much value your input...
Thanks,
Joe
Still.. not a bad deal on a $44K vehicle...
But, I'm sure that quote from an out-of-state dealer doesn't account for Illinois taxes.. Illinois taxes the full selling price on a lease.. Over 24 months, that will likely add more than $100/mo. to the payment. Which is why short-term leases aren't usually cost effective in Illinois.
regards,
kyfdx
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I think this was a pretty good deal. What do you think?
Terms: 36 months / 15k miles
MSRP: $42,975
Sale Price: $41,685.75
Down Payment: $2,000
Residual: 65% ($27,933.75)
Money Factor: .002
Tax Rate: 8.25%
Monthly Payment: $563.04
They sent me an email back saying that they can't control the money factor, but that everything else with the offer is fine. They also said that they are running a special for this month with no sales tax. That is a big deal in Texas since sales tax is based on the total sale price instead of the used value.
I have a couple questions:
1. My equifax credit score is 710. What kind of money factor should I expect to be getting?
2. In Texas, to calculate the total lease payment, the tax is based on the sale price only or is it sale price + fees?
3. What kind of fees should I be seeing? I'm guessing just an acquisition fee.
By my calculations, with the no sales tax offer, I should be looking at $461.88/month for this without any fees being accounted for yet.
2) Tax is most likely on selling price plus any non-governmental fees (acq.fee, doc fee, etc.) No tax would be a big, big savings. I've heard of TX dealers having tax credits available.
3) Acquisition fee of $625 (dealer can mark this up to $825), most TX dealers charge an inventory tax (it is under $100, I think, registration.. Watch out for document fees, prep fees, dealer fees.. these are all just profit padding.
With the .00215 MF, I get around $471/mo. with a $2000 CAP cost reduction..
If you use the $2000 to pay the upfront costs (1st payment, security deposit, acquisition fee, title), then the payment would be approximately $532/mo.+ tax..
No tax is a huge savings... Tax would be around $70/mo in Texas..
regards,
kyfdx
PS: $2000 upfront and $532/mo. is a very achievable deal.. don't let them bump you up any higher.. They are only providing a $1300 discount from MSRP.. They shouldn't have to make any more from the financing..
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I've just ordered a new X3 loaded to the gills. Found an accomidating dealer and have placed an order. Now I'm figuring out leasing terms. This is my first potential BMW lease - but I've leased before and I am familiar with how leasing works.
I only lease for tax purposes. It can help accelerate tax write off of a business luxury car. The alternative is paying cash.
So, here is my question. Right now I'm being told that for a 24 month lease with 50,000 miles per year the money factor is .00215. This translates into 5.16%. Here on this site I've also seen money rates being discussed at .00200 and even someone talking about .000700 or an ultra-low 1.68%. My credit scores are north of 800 (perfect). Lastly the residual buy the car at lease end value that I'm being quoted is about 54% of the negotiated cash price,(remember 24 month at 50K miles per year).
Is this residual in line or should it be different?
Is .00215 the deepest discount money rate BMW offers right now?
Is the $625 "acquisition fee" standard or is it negotiable? BTW does the dealer get part of this?
Do you have any idea how the money rate and or the residual value may change over the next 6 to 8 weeks (the time needed to build and deliver the car)?
Many thanks,
NewQ