Thanks for the correction on Residuals. OK, then as a percentage of the MSRP (Sticker + Dealer installed options) the residual works out to 52.07%.
As for the 50,000 miles per year - yes that is what I mean. I'd buy more if BMW would let me (and have bought more from other manufacturers). Unlike most who lease I'm not concerned about the payments. I'm concerned about total out of pocket cost to "buy" the car. I intend to buy the car at lease end - and want it to have as low a buy out value at lease end as possible. My only reason to lease is that it works better for taxes than does buying for cash and depreciating.
Are my money factor numbers correct? .00215?
BTW - following my having cut a tight deal for as cash purchase, the dealer is trying to recoup profit by bumping the lease money rate. I'm not going for it.
Just picked up My X3 on a 2 yr lease, MSRP 45250 Cap Cost 42710 ( 500 over invoice) Sale Price ( including Acq fee) 43335 Residual 78% ( 24 months/10000 miles) Monthly 499.24 ( Money factor 0.00166 with 7 security deposits)
This z4driver did multiple security deposits and is a returning BMWFS customer. He got a family special since the CA sells a car or two every year to this guy's extended family .
My husband and I were at the BMW dealership again this weekend and we saw a Monaco Blue X3 w/ tobacco brown interior on the showroom floor. My husband LOVED the color combo but were never able to build it like that (interior is either beige, black or gray). The car has:
We put down a deposit on the car and locked in this months rates (although they aren't the greatest this month but just in case they go higher in June).
What do you think? Could we do better? Do u think we could still do a little more negotiating? :confuse:
It looks like the $40,600 includes the destination at that monthly payment..
How much do the fees and taxes add up to? Give us the total amount due upfront, and break it down if you can.
I had a Monaco blue loaner a couple of weeks ago.. While I liked the color (it is really blue!), my wife hated it. The loaner had gray interior with gray poplar trim. That was a really nice combo with the blue, but that interior is really light and would be had to keep clean, I think.
The Monaco blue is actually more like a navy (sometimes it's hard to distinguish it from black). We got the Monaco. It's the Montego blue that is really blue...I don't like that color either!
I have the yellow slip that gives total out of pocket as: $3515.03. Doesn't have it broken down, but I'll try doing it myself:
1st month: $499 Tax: $1560 (based on NY rate of 8.375%) Security: $500 Acq. Fee: $625 Fees & Ins: $105 TOTAL: $3289
Still need to account for $226...don't know what else was included. Maybe they jacked up the acq fee? My baby was getting cranky when they were working up the papers so I couldn't pay much attention. I'll email him for a break-up.
What do you think? Can I work on anything else? Praying that the June rates are much better!
That looks pretty good.. It's possible they ran it without a security deposit, and instead made a cap cost reduction.. Which would make it a worse deal by $500..
If there is a security deposit involved, then the deal looks more than fair... If not, then I'd want the deal to be $500 less..
Finally decided on the X3 and put a deposit down today. Here is the deal: $39,750 MSRP (metallic paint and heated seats) $38,015 sales price ( I am being told it's $275 over invoice, although Edmunds invoice price is $36,620, which would make it $1395 over invoice)
$445 month (36/10k) +$1435.64 tax (8.625%) +$625 bank fee +$67.50 MV =$2573.14 out of pocket
I thought I was getting a great deal with $275 over invoice, and they are willing to give me a copy of their invoice, but the extra $1120.00, however they explain it, still bother me. What do you think?
MSRP - 40725 Invoice - 37510 Price for Lease - 39450 Down Payment - Aqcuisition, First Payment, Sec Dep = $1897 Monthly Payment - $545 (taxes included - 10% for lease in my county in PA)
He says invoice is 38100, and that he has a 300 dollar national advertising charge or some BS.
Where did you get that quote? I am leasing my first car and I want it to be the BMW X3 i don't like talking to the sales people over the phone because all they tell you is the monthly "low" payments they hate going into detail :mad: . It's like asking them to do something out of their job describtion. I am so scared of them. any tips?
I wound up getting him down to 38800, so I think I am going to for it, which gets me to the 5% off the MSRP or better I was looking for. The other dealership I contacted wouldnt match and the third wont get back to me. Im in Eastern Pa.
hey I was looking to lease a New X3. when I contacted the Dealership (in Kansas City) a fully loaded MSRP around 46,000 -- 36 months -- 15k/year mileage was like $715 a month. I haven't yet been in to negotiate a lower price off the MSRP, but how are you guys getting these leases for the $450 - $550 range? they said that the taxes and licensing was included, will just negotiating the purchase price to about $43,000 get my lease under $600? or how in the world can I get my lease payment near the $500 range?
We've been working with the salesman for a few months (we couldn't decide b/w the X3 or 328xi) and he ended up giving $495 for 36mo/12k on an X3 w/ MSRP of $42,800. We went in 2 hours before closing and since he's met w/ us before he cut the chase and gave us a good deal. i acutally emailed other dealerships about X3's in stock w/ the MSRP as mine and asked them for quotes and one even emailed me back w/ a payment of $485/month. (but the original dealership I worked w/ had better service and amenities like free carwashes and a large fleet of loaners that I decided that it was worth the extra $10/month). But basically use edmunds free quotes service and request quotes from dealers in your area. You can even set your own price and email it to dealers and see if they are willing to work w/ your numbers. Personally I think you can do a bit better. Perhaps you can also ask abt demos models. BMW executive demos lease out pretty well.
To all NYorkers, I have had good experience w/ RallyeBMW in westbury...they're not pushy and are happy to help you with questions. It took us a few months to decide what we wanted and they were totally patient.
redvelvet go to the bmw website and find the dealers in your area. go to the dealer websites and try to find a car that you'd like and either email them for a quote or call them w/ the stock#. This way they know you r interested and serious otherwise you'll keep getting a ballpark figure. Also, be sure to know what options you want, how many miles, colors etc... From my experience salesmen don't want to take the time to explain that stuff to you. Afterall all that info is at ur fingertips on the web anyway.
Thank you I learned that the hard way and if you ask too many serious questions like MF, the BASE acqusation fee. They get really uptight and thats when they have to call you back. I am going to the dealership on Saturday and I am terrified. :confuse:
yes i certainly can order what i want! my issue is that if i take delivery late august then i am paying double for august and september. what i am debating is whether the deal is "good enough" to offset that and will the rates in july change enough to justify making 2 extra payments. in order to pay one month of double i would have to take delivery in late september, which means i have to wait for the july rates????? :confuse: :confuse:
Sorry... didn't realize your lease ended in late October..
Eating over $1000 in lease payments is a lot to swallow.. But, if you wait until July, then it will probably be too late to order an '07...
If you do decide to go ahead and order, ask your dealership to write your deal at the August rate, if the rate turns out to be more favorable to you. At least that way, if the deals get better, you won't be making double payments plus miss out on a better deal.
Normally, I'd say wait and take your chances, but with the end of the model year coming, you can't really do that, and still order an '07.
or, do i just close my eyes and order an 08?????? my sense is that significant changes are not being planned to this model and that way i walk away clean!! :confuse:
according to another dealer, they are having a "special" for previous bmw owners and came up with a lease payment of $495 a month (other dealers "best" price) was $560. so at this point sort of silly to take the chance on a rate change!! agree
Hi all, I've been researching to lease an X3 and here's the numbers that I have:
Terms 15/36 possibly thru BMWFS MSRP 42950 (prem pack, xenon adaptive headlight, privacy glass, metallic color) Buy price (looking for around) 40000 (is it possible?) Cap Cost: 43000 (includes all CA tax, tags and acq fees)
What would be good lease payment with $0 down? Are my numbers above looking good? I want to shoot for up to $500 incl tax for mthly pmt. I would like to deal with dealers thru emails so any opinions you could give me about my numbers are so very appreciated.
In CA, they tax the monthly payment. The tax isn't paid upfront, so your CAP cost should be the selling price, plus acquisition fee and registration/title/plate fees.. The total CAP cost shouldn't be any more than $1000 over the selling price.
Then multiply your monthly payment by the tax rate and add that to the payment.
Interesting... the salesmen at Universal Mini and Beverly Hills BMW both told me to come back when I had three payments left and BMWFS would waive them.
For some reason I feel I am getting the runaround from the people at BMW. I have been looking at the posts here and trying to talk to the salesmen and this is what they are telling me.
15k@ 36mo MSRP: $45,675 Cap Cost: $ 43,657 RV: 65% Money Factor: 0.00230 (Security Deposit Waived) Due at Signing: $3396.54 Monthly Payment $549.99
is this a good deal? I told them I wanted to be around the $550 range, and its weird that that is the monthly price they quoted me. does anyone know the calculations they use for a monthly payment? or do they just throw out a number?
I don't think that is weird, at all... You said you wanted to be around $550/mo, and that is what they gave you...
What would be really weird, is if you asked for $550 and they came up with $500!!
Sort of hard to tell if it is a good deal, without knowing how the $3400 upfront is broken out. Tax in there somewhere? We know there isn't a security deposit. 1st payment? Acquisition fee ($625 or $825?). Title/license fees?
If you have an itemization of the amount due at signing, we can see what's up.
thanks ill check in with bmwfs directly. went to another dealer and got the rate reduced (.00150) due to a "loyalty program" also got a break on the up front down to $1500 and a monthly payment of $495.
How accurate is this info on the .0015 rate? I have an X3 en route to my dealer as I type this. I was quoted a .00250 rate 5 weeks ago when I ordered. (Looks like they used their .0004 cap mark-up authority from the base). I would love to get this new rate!
Looks like I qualify - I am a current customer and am releasing. My lease ends on the 6/24. What would you recommend I do to make sure I get this when I sign on delivery?
Call your CA now.. and tell him that you want the new lower rate for existing customers that is effective in June.
I'd play dumb about knowing that they marked up the old rate.. Maybe you can get them to give you the base rate on the new one.
The rate with maximum mark-up should only be .0019, so even if they don't go all the way to .0015, you should be getting a substantial reduction in payment.
Thanks for your help! I called my sales rep and he confirmed that it did go down, exactly he wasn't sure of, but it was out of there hands. If BMW says do it - they just do it automatically. I will look for the new rate at signing - hopefully by the end of this week. Even at .0019, I figure I will save about $40/mo. on my payment - this is great news!
You signed in April.. I'm not sure exactly how the program works, but they could still put you through under the April program, I think.
Might let it go for now, but insist on it later. They'll make the same amount at .0019 on the new program, as they would at .00255 on the old program, so it should be no skin off their nose. Only BMWFS will make more money if they run it through the April program.
Actually, I ordered in May, received delivery last week, 6/25 - six weeks. I got the .0019 rate and saved $40+ off my monthly payment for being an existing BMWFS customer. Great timing and good luck, for a change! The only thing I should have done was become a CCA member over a year ago to get a $500 rebate. Oh well - next time. BTW, the vehicle is absolutely beautiful. Looks like I am a BMW owner for life now.
I was thrown off by the Acquisition Fee of $625. Dealer told me that this figure was non-negotiable from BMW Financial Services and couldn't be removed. Can anyone shed further light on this? I can still back out of this deal.
36 months/15K mi/yr 2007 X3 3.0si SAV 205 Steptronic auto trans. A35 Monaco Blue Metallic Paint LUAD Gray Nevada Leather ZPP Premium Pkg 761 Privacy Glass
I bought my 2005 X3 3.0 w/ Premium package, privacy glass, adaptive headlights Certified Pre-Owned for $29,275 before taxes and tags. It had 15,575 miles on it and is in outstanding condition. I found it through BMW's CPO site. I bought from Tom Bush BMW in FL and drove it back to Columbus, GA. We have a dealer here as well.
My buying experience and experience with dealers: if you have money you want to fork over, they love you. They're never as tacky as say a Nissan or Ford dealer but at their base they're just car salesmen trying to make a profit off a great name. I think the internet BMW CPO is the best way to go because the value on these drop pretty drastically from new to 1 or 2 years old. You have to search for the features/colors/price you want but it can really save you thousands. Also, I don't think there's a 'best time of year' to shop. I would go in trying to buy at the suggested internet listing cost then simply ask if they'll take less. When I was shopping around I'd always ask if they'd accept less and they always would, but they'll never volunteer that. The most I was able to reduce price by was $3,500. the least reduction was $1,500. I think it's worth that much to ask the question since the worse they can say is 'no'.
As for the BMW X3, I love it but in retrospect it'd be hard choosing between the X3 and the Volvo XC 90. I think the X3's interior is spartan by comparison but I like the exterior slightly better. Tough call and worth a test drive to get the final check before you take the $30+K plunge.
I'm considering my first BMW X3 lease, I'm already involved in a lease for a 325xi for my wife. My dealer tells me that 07's are no longer available, that I'll have to go for a 08.
Regrettably, I didn't do very well at negotiating the 325xi, and am hoping to do better this time around if I can. The one problem is, I do drive a lot of miles myself... around 25k per year. I also like to own new vehicles after a few years, which typically isn't a good plan for a lease. I'm having difficulty deciding if a lease would make any sense, even if I wanted to order the x3 of my dreams and buy the car afterwards. My dealer is trying to convince me to go with a 10K miles lease in that case, but that doesn't make any sense to me, even if I really love the car. The residual value will be priced a lot higher than the car will actually be worth. Should I buy 10-15K extra miles up front? I would think that payment wouldn't be much better than an outright purchase, but I am trying to keep the payments in a decent place relative to a 5 year term. Before I even bother negotiating, does anyone have any thoughts as to the viability of even considering a lease, especially if there are no special incentives left for 07?
I am looking to do a 24 months lease on the X3, 15K miles per year. I was quoted the residual value of 75%, and the money factor of .00215, which they say is discounted from .00230 since I currently have a BMW.
From the postings in this forum, I learned that the discounted rate is .00150. I currently have a bought (not leased) 2004 530i financed through BMWFS, halfway through the payments. Do I qualify for a discounted lease rate? Is the dealer tricking me into believing that I get a discounted rate while I actually do not?
Comments
- Do you really mean 50k miles per year? That's alot.
- Residuals are typically stated as a percentage of MSRP, not the selling price.
Thanks for the correction on Residuals. OK, then as a percentage of the MSRP (Sticker + Dealer installed options) the residual works out to 52.07%.
As for the 50,000 miles per year - yes that is what I mean. I'd buy more if BMW would let me (and have bought more from other manufacturers). Unlike most who lease I'm not concerned about the payments. I'm concerned about total out of pocket cost to "buy" the car. I intend to buy the car at lease end - and want it to have as low a buy out value at lease end as possible. My only reason to lease is that it works better for taxes than does buying for cash and depreciating.
Are my money factor numbers correct? .00215?
BTW - following my having cut a tight deal for as cash purchase, the dealer is trying to recoup profit by bumping the lease money rate. I'm not going for it.
NewQ
MSRP 45250
Cap Cost 42710 ( 500 over invoice)
Sale Price ( including Acq fee) 43335
Residual 78% ( 24 months/10000 miles)
Monthly 499.24 ( Money factor 0.00166 with 7 security deposits)
Happy Memorial Day weekend everyone!
How much due at inception, outside of your security deposits?
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with free floor mats
Still.. a good deal is a good deal, right?
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My husband and I were at the BMW dealership again this weekend and we saw a Monaco Blue X3 w/ tobacco brown interior on the showroom floor. My husband LOVED the color combo but were never able to build it like that (interior is either beige, black or gray). The car has:
-metallic paint
-premium pkg
-heated front seats
-heated steering
-privacy glass
Anyhow we went in to talk to our dealer and this is what he gave us:
MSRP: $42,800
Sellling Price: $40,600 + $695 destination charge
Monthly 36mo/12k: $499
Due at signing: taxes & fees...NO DOWN PAYMENT
We put down a deposit on the car and locked in this months rates (although they aren't the greatest this month but just in case they go higher in June).
What do you think? Could we do better? Do u think we could still do a little more negotiating? :confuse:
Thanks for all the postings...a great help!
How much do the fees and taxes add up to? Give us the total amount due upfront, and break it down if you can.
I had a Monaco blue loaner a couple of weeks ago.. While I liked the color (it is really blue!), my wife hated it. The loaner had gray interior with gray poplar trim. That was a really nice combo with the blue, but that interior is really light and would be had to keep clean, I think.
regards,
kyfdx
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I have the yellow slip that gives total out of pocket as: $3515.03. Doesn't have it broken down, but I'll try doing it myself:
1st month: $499
Tax: $1560 (based on NY rate of 8.375%)
Security: $500
Acq. Fee: $625
Fees & Ins: $105
TOTAL: $3289
Still need to account for $226...don't know what else was included. Maybe they jacked up the acq fee? My baby was getting cranky when they were working up the papers so I couldn't pay much attention. I'll email him for a break-up.
What do you think? Can I work on anything else? Praying that the June rates are much better!
If there is a security deposit involved, then the deal looks more than fair... If not, then I'd want the deal to be $500 less..
Good luck,
kyfdx
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Here is the deal:
$39,750 MSRP (metallic paint and heated seats)
$38,015 sales price ( I am being told it's $275 over invoice, although Edmunds invoice price is $36,620, which would make it $1395 over invoice)
$445 month (36/10k)
+$1435.64 tax (8.625%)
+$625 bank fee
+$67.50 MV
=$2573.14 out of pocket
I thought I was getting a great deal with $275 over invoice, and they are willing to give me a copy of their invoice, but the extra $1120.00, however they explain it, still bother me.
What do you think?
Invoice - 37510
Price for Lease - 39450
Down Payment - Aqcuisition, First Payment, Sec Dep = $1897
Monthly Payment - $545 (taxes included - 10% for lease in my county in PA)
He says invoice is 38100, and that he has a 300 dollar national advertising charge or some BS.
Thoughts?
Thanks
To all NYorkers, I have had good experience w/ RallyeBMW in westbury...they're not pushy and are happy to help you with questions. It took us a few months to decide what we wanted and they were totally patient.
Happy Bargaining!
Good luck!
premium w/comfort seats
auto trans
heated seats and steering wheel
navigation
privacy glass
front/rear sensors
msrp of 46800 (includes dest)
sales price of 44600 +3.5% over invoice
lease pmt on 3yrs 10k miles of $560.00
this would appear to be a pretty good deal but i would have to eat the remaining 2 payments on my x5 (aug and sept) thereby cutting into that deal.
should i wait??????? :confuse: :confuse: :confuse:
Assuming it's not too late to order an '07 model.
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Eating over $1000 in lease payments is a lot to swallow.. But, if you wait until July, then it will probably be too late to order an '07...
If you do decide to go ahead and order, ask your dealership to write your deal at the August rate, if the rate turns out to be more favorable to you. At least that way, if the deals get better, you won't be making double payments plus miss out on a better deal.
Normally, I'd say wait and take your chances, but with the end of the model year coming, you can't really do that, and still order an '07.
I think this is the definition of a dilemma..
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I've been researching to lease an X3 and here's the numbers that I have:
Terms 15/36 possibly thru BMWFS
MSRP 42950 (prem pack, xenon adaptive headlight, privacy glass, metallic color)
Buy price (looking for around) 40000 (is it possible?)
Cap Cost: 43000 (includes all CA tax, tags and acq fees)
What would be good lease payment with $0 down?
Are my numbers above looking good? I want to shoot for up to $500 incl tax for mthly pmt.
I would like to deal with dealers thru emails so any opinions you could give me about my numbers are so very appreciated.
Thanks in advance!
It makes for a pretty good lease deal, if you are a current BMWFS customer. And, a decent deal if you aren't.
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Then multiply your monthly payment by the tax rate and add that to the payment.
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15k@ 36mo
MSRP: $45,675
Cap Cost: $ 43,657
RV: 65%
Money Factor: 0.00230 (Security Deposit Waived)
Due at Signing: $3396.54
Monthly Payment $549.99
is this a good deal? I told them I wanted to be around the $550 range, and its weird that that is the monthly price they quoted me. does anyone know the calculations they use for a monthly payment? or do they just throw out a number?
What would be really weird, is if you asked for $550 and they came up with $500!!
Sort of hard to tell if it is a good deal, without knowing how the $3400 upfront is broken out. Tax in there somewhere? We know there isn't a security deposit. 1st payment? Acquisition fee ($625 or $825?). Title/license fees?
If you have an itemization of the amount due at signing, we can see what's up.
regards,
kyfdx
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i pulled the trigger. thanks for your help!!
If you are, the rate is .0015.. If not, the base rate is .00215..
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I'd play dumb about knowing that they marked up the old rate.. Maybe you can get them to give you the base rate on the new one.
The rate with maximum mark-up should only be .0019, so even if they don't go all the way to .0015, you should be getting a substantial reduction in payment.
regards,
kyfdx
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Might let it go for now, but insist on it later. They'll make the same amount at .0019 on the new program, as they would at .00255 on the old program, so it should be no skin off their nose. Only BMWFS will make more money if they run it through the April program.
Good luck!
kyfdx
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36 months/15K mi/yr
2007 X3 3.0si SAV
205 Steptronic auto trans.
A35 Monaco Blue Metallic Paint
LUAD Gray Nevada Leather
ZPP Premium Pkg
761 Privacy Glass
MSRP + Dest. Chg. = 42150
Invoice + Dest. Chg. = 38805
My Price + Dest. Chg. = 39599 ($794 over invoice)
Acq. Fee = 625
Adj. Cap Cost = 40224
Residual = 65%
Base Money Factor =.00215
Discounted MF* =.00166
*Discount MF applies when you make 7 add'l security deposits, which you get back at the end of lease term, for a total of 8 security deposits.
Sec. Dep. ($500 x 8) = 4000
FL Title/License Fees = 369
Base Monthly Payment = 468
with FL 6% tax = $499/month total payment
36 months @ 15K miles/year
You have a low selling price, base MF and base acq.fee.. And, no extras... If your amount due at signing is $4868, then I'd jump on this deal.
There is a special money factor for current BMWFS customers. But, if you are a new customer, this is as good as it gets.
regards,
kyfdx
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My buying experience and experience with dealers: if you have money you want to fork over, they love you. They're never as tacky as say a Nissan or Ford dealer but at their base they're just car salesmen trying to make a profit off a great name. I think the internet BMW CPO is the best way to go because the value on these drop pretty drastically from new to 1 or 2 years old. You have to search for the features/colors/price you want but it can really save you thousands. Also, I don't think there's a 'best time of year' to shop. I would go in trying to buy at the suggested internet listing cost then simply ask if they'll take less. When I was shopping around I'd always ask if they'd accept less and they always would, but they'll never volunteer that. The most I was able to reduce price by was $3,500. the least reduction was $1,500. I think it's worth that much to ask the question since the worse they can say is 'no'.
As for the BMW X3, I love it but in retrospect it'd be hard choosing between the X3 and the Volvo XC 90. I think the X3's interior is spartan by comparison but I like the exterior slightly better. Tough call and worth a test drive to get the final check before you take the $30+K plunge.
Good luck.
Regrettably, I didn't do very well at negotiating the 325xi, and am hoping to do better this time around if I can. The one problem is, I do drive a lot of miles myself... around 25k per year. I also like to own new vehicles after a few years, which typically isn't a good plan for a lease. I'm having difficulty deciding if a lease would make any sense, even if I wanted to order the x3 of my dreams and buy the car afterwards. My dealer is trying to convince me to go with a 10K miles lease in that case, but that doesn't make any sense to me, even if I really love the car. The residual value will be priced a lot higher than the car will actually be worth. Should I buy 10-15K extra miles up front? I would think that payment wouldn't be much better than an outright purchase, but I am trying to keep the payments in a decent place relative to a 5 year term. Before I even bother negotiating, does anyone have any thoughts as to the viability of even considering a lease, especially if there are no special incentives left for 07?
Many thanks for any thoughts/suggestions.
I am looking to do a 24 months lease on the X3, 15K miles per year. I was quoted the residual value of 75%, and the money factor of .00215, which they say is discounted from .00230 since I currently have a BMW.
From the postings in this forum, I learned that the discounted rate is .00150. I currently have a bought (not leased) 2004 530i financed through BMWFS, halfway through the payments. Do I qualify for a discounted lease rate? Is the dealer tricking me into believing that I get a discounted rate while I actually do not?
Thanks for the help.