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In any event, I'll go to the dealership on Saturday the test drive both of them and decide on the spot. Thanks for your help and I'll probably go with your 12K/yr advice.
Angel
Thanks,
Angel
MSRP - 39,620
LEV - 62%
- 24,564.40
Term - 39 Months
Money Factor - 0.00135
Total Sales Tax - 1,616.70
Initial Cap Cost - 37,417.29
Add Cap Cost - 825
Sec Deposit - 600
Annual Fee (?) - 94.05
Initial Fee (?) - 83.00
I'm also trading in a 99 528i that I owe 17,350 on, and they are giving me 13,000 for. The tax rate is 6.25% on the difference between purchase price and trade-in.
My initial amount due at start is 1,465.82 with a monthly payment of $598.15.
They didn't have any more room to negotiate on the trade, but where else (other that the MF should be .001), that I can use to lower this.
I'm going over tomorrow (Saturday) to finalize this, but I feel like I can do better.
Thanks.
Car was white X3 3.0 base with privacy glass, cargo net, thats it.
MSRP was $37,995 includes destination charge
His sale price was $36,500
I didnt ask what the MF was
They were off about $1,000 on my trade versus Kelly blue book good condition. (05 honda accord 9K miles, about 2K upside down)
Wanted 4K down and the Payment was $491
What the hell happened???????? I wanted the 39 month lease special.
Someone please walk me through this and help. Thanks
Thanks.
You are upside-down by $4350 on your trade... The numbers don't look too far off, but without knowing your initial payment, it is hard to figure..
The base MF is .0010... If you are making a security deposit (and it appears you are), then they are bumping the MF... Getting the base rate would save you $24/mo.
regards,
kyfdx
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2) The advertised lease special doesn't include taxes
3) Figure an increase of $15/mo for every $1000 higher MSRP your unit is over the advertised unit.
4) If they are jacking up the MF and acquistion fee, figure another $30/mo..
It adds up fast.. they are advertising the lowest possible payment.. it is a come-on.. very hard to get to that number in reality.. That $339 also includes an upfront payment of $3500 or so... and that doesn't count any negative equity from your car..
As far as trade-in value? I don't know which model Accord that you have.. But, on the prices paid board... they are reporting purchase prices of $22,900 for brand new '05 Accord sedan EX-V6.. I doubt a dealer could sell your car for $21,500, and even if he could.. he would have to purchase it at around $19K to make money on it...
Trading a new car with only 9K miles pretty much guarantees you a big hit...
regards,
kyfdx
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Also, if you don't want to make a security deposit, there is a waiver charge of .00015.... This is how they get to .00155..
You should make the security deposit to avoid that upcharge..
regards,
kyfdx
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:confuse:
So.. no special significance to the $339/mo.... But, comparable lease payments are significantly lower, if you extend out to 39 months...
regards,
kyfdx
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As kyfdx points out, since in the July deal they used 36 mo numbers on a 39 mo deal, its $30/month amounts to about a $1K savings on the whole lease - which I guess evens out the fact that they wouldn't reduce my MF. So while clearly not the best deal, not a total beating. And overall still a much better value than anything comparable out on the market (in terms of leases). Or am I missing something?
The paramaters that BMWFS has set up for the X3 leases is so good, it is hard to make a bad lease deal on one...
regards,
kyfdx
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I looked around at few others Acura in particularly, and although they make a nice product, its like a nice home appliance - nice to look at, reliable but evokes no passion or emotion. In my opinion, Acura, Lexus and Infiniti still have a long way to go in their quest...
One thingI still don't understand is about the acquisition fee. In the advertised "339" there was no acquisition except in NY. However, it appears dealers are charging this even outside of NY. Under the deal, is the acquistion fee supposed to be waived outside on NY?
Thanks
The fee is $625 in every state but NY, where it is $900... However, the dealer can mark it up by $200 for extra profit..
In the advertised deal, NY handles it differently... they assume a smaller cap cost reduction and pay the acq.fee upfront... The end result is the same, though... it gets paid, either way..
regards,
kyfdx
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I was considering buying x3 untill I heard a terrible accident that my friend experienced.
She was driving x3 and noticed minor problem with keyless entry system;it sometiems worked and sometimes didn't. Then one time, she found out that the car went without stopping even though she pressed a brake pedal. She never thought that it was a brake problem because it was just a few days after she bought it. She just thought that she might have pressed acccelaration pedal instead of brake pedal. The other day she went to daycare center to pick up her child. While she was parking a car, she stepped on a brake pedal but the car did not stop at all and kept going breaking a wall of playgound. Fortunately there were no children on that side of playground but I can guess that she felt like she was in a hell when she passed a wall of a playground of daycare center. This time she was sure that she was using brake but it failed to stop a car. If there is anyone who experienced or heard about a similar problem, please let me know.
Thank you
What does this have to do "buying experience"?
In anycase, if this is true, there are anamolies in all manufactured products. Its a only a 99.9% perfect world - just ask NASA.
I am looking to lease a 2005 X3 3.0. A dealer has given me a quote of monthly payment $423.26 (including tax) for X3 3.0i which includes premium package, cold weather package, heated steering wheel and privacy glass. It with 1000$ down and no trade in. I don't have any other details yet like the MF and other things. I will have to follow up on these with the dealer. But in the mean time, how does this deal sound?
Thanks
Is the $1000 your total upfront cost? Or is it a downpayment, to which you'll have to add 1st payment, security deposit and acquisition fee?
What is your tax rate?
All the variables matter... Total costs on similar sounding quotes can vary by as much as $2K...
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MSRP is $40,595,
selling price is $38,115.
The term is 39 months / 12000 miles per year.
MF: 0.00125
Residual 62%
Total due at lease inception $2,076 which includes:
$423.26 first payment
$450. Security deposit
$1,000 money down
$58.05 (Tax)
$90 Plates and title
$55.39 Doc fee
Total $2,076.70
So is the deal worth it, or should I try some other dealers ?
I wouldn't want to make that $1000 downpayment, though.. I'd just roll that into the lease.. That would reduce your upfront to under $1100, though it will add about $28/mo to your payment.. It will make no difference to the dealer..
regards,
kyfdx
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I have read before that the base invoice price on Edmunds does encompass MACO and training. Just want to know if the dealer has created a false invoice, or if the actual invoice from BMW does charge the dealer for these in addition to the base invoice price. Thanks
I'm gonna go shopping around tomorrow for an x3 2.5i, the one I want is around 33,500 and I wanted to at least know what I'm talking about when I go into a dealership. I'm in LA so there are many BMW dealers so getting a good deal is possible if I know what a good deal is.
Can anyone give me an idea and anything to look out for?
Thanks
MACO varies by area.. It is an advertising charge that the dealer pays to BMW..
If you negotiate an "invoice plus" deal, this is what you have to deal with..
regards,
kyfdx
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2) They are bumping up the money factor from .0010 to .00125.. this adds about $16/mo to the price..
You aren't very far away from a good deal.. (about $16/mo away..ha)
If you don't put the $1000 down, the payment goes up about $28/mo.., but if you can get them to use the base rate, you'll save $16/mo. of that...
So... I'd want an upfront of around $1050... with a payment of $435/mo. including tax.
Ask for that, and take anything within $10/mo of it... That would be a good deal..
regards,
kyfdx
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MSRP: 35,500
Acq. fee: $625
Money factor: I asked, they said something about it being around 3%, does this make sense?
Residual value: 63%
Lease term: 39 months/15k year
CA Sales tax: 8.25%
Monthly payment: $419 including tax
No money down, $1575 due at signing
They said I could drop to 12k a year for about 25 bucks less a month.
It sounds like a good deal to me. Both dealerships weren't pushy at all and didn't seem to mind that I wanted to think about it for a while.
2) At an MSRP of $35,500, it would have to be a 2.5... but need to know this.. or..is $35,500 the selling price?
3) 3% rate is an MF of .00125, which is the base rate for the 2.5 model
4) Residual value.. 10K residual for 2.5 is 62%.. for the 3.0 model, it is 63%.. You might find when you get ready to close the deal, that they are quoting 10K numbers, not 15K numbers..
A lot of numbers here... but, they aren't quite matching up... If you check on them, I can give you a better idea..
regards,
kyfdx
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The 10k number was $299/mo with 4159 at signiing. I told them I only wanted to pay the minimum at signing which they said was around 1600, taking out the 2500 down payment. And I told them I needed 15k miles a year. Their total with tax was $419/month, 1600 at signing for 39 months.
Here's how it broke down:
cost: $32,500
Residual: 20160
Monthly dep: 316.40
mo lease charge: 73.72
base payment: 390.12
plus tax comes to 422.30 because he was charging me for placemats and when I said, "you're seriously gonna charge me for the place mats?", he said "alright $419/mo"
As for the payment due at signing:
1st payment: 419
sales tax: 68.
1st year fees: 281.75
other upfront: 825
Total: 1597.11
Thanks for looking into it.
1) The residual for the 2.5 model for 39mo/15K is 59%... that is okay, but the residual at that number is $20,945, not $20,160.. $20,160 residual would assume an MSRP of $34,170...
2) Actually, at $34,170, the numbers start to make sense... I can get the same exact payment, using that as the MSRP.. You can't add accessories or dealer installed options into the MSRP, for purposes of figuring the residual..
3) They are using the base money factor, but bumping the acquisition fee from $625 to $825... You would be better off rolling the acquisition fee (hopefully $625) into the lease, and paying a $450 security deposit... that would lower the money factor, and you would get the $450 back at the end of the lease..
If you do that, your payment goes up by $17/mo., but your upfront would drop by $375 ($825 minus $450).. and you get the $450 back..
How did the vehicle get from $34,170 to $35,500? (assuming I'm correct).. Did you add that much in accessories? If so, the $32,500 selling price looks pretty good, and I could overlook the $200 bump-up in the acquisition fee.. If not, then you ought to look into why they are mis-representing the MSRP of the vehicle..
regards,
kyfdx
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Thanks for the info...it's helped tremendously!
Basically, is this a good deal? The money factor is a bit high at .00155 and I plan to negotiate down to .001. He gave me the current leasing incentive (39 months same as 36 month lease). 12K miles a year/62% residual. I'm putting nothing down other than the required deposit and first month plus fees and coming out to $490/month on the lease. This seems high, I'm not sure why. Can you help me out?
Thanks,
Blu
In addition, residuals are 1% higher on the 3.0 models....
The lease rates are good, either way (not their quoted MF, the base rate).. I think you are taking a big chance by waiting, though.. The 2.5 is discontinued for the '06 model year, and at some point, they are likely to drop the lease incentives and add purchase incentives.. Since, you want to lease, your cost could actually go up...
If it were me, I'd look for a 3.0 model that MSRPs for about $40K... If you get them to the base rate, you could likely lease that for under $500/mo..
regards,
kyfdx
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The 2.5 model has a base money factor of .00125.. If they are quoting .00155, then they are marking it up, for additional profit.
The 3.0 model has a base money factor of .0010....
You always want to get the base money factor, naturally....
regards,
kyfdx
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Also, is leasing to buy a smart option? Thanks kyfdx!
I'm not sure if leasing to buy is a great idea.... the tax laws in your state sometimes have a bearing on that... But, I will say that the lease deals on the X3 are great... and if I were choosing between buying and leasing, I'd definitely pick leasing with the program presently in place..
With the 2.5 model being discontinued after '05, If I were purchasing, I'd worry a little about resale values... Generally, with BMW, the smallest engine, cheapest versions of a car have the best resale... but, I think in this case, resale might favor the 3.0 model...
Although the difference in base MSRP is about $6K, the difference is only about $3K, popularly equipped..
regards,
kyfdx
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best,
blu
Floor Mats $195
Destination Charge $695
Acquistion Fee $895
Processing Fee $295
Taxes 3.20%
Discount $0
Downpayment $500
Net Capital Cost $41,100
Residual % 62%
Residual $23,743
Term 39
Money Factor 0.001
Depreciation Fee $445.07
Finance Fee $64.84
Total Monthly Payment $509.91
Thanks!
He also claimed that because of the lease incentive he was not able to discount the price of the car from MSRP. Is that correct?
Thanks!