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2013 and earlier BMW X5 Lease Questions
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3yr/45K lease.. 57% residual..
money factor .0010
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2006 - 3 yr., 36000 mi lease
Premium, Sport, Cold Weather, Navigation, Auto, $52.9k MSRP
Dealer's first pass was $51.9k, 59% residual, .0014 money factor, $5k down (trade and/or cash)= ~$675 per month....I know I can do better with the money factor and base price...thoughts on this deal anyone?
$50,900 Selling price ($2K off.. an average deal)
$51,525 Cap cost (selling price + $625 acq.fee)
3yr/36K lease
Residual 59%
Base money factor .0010
Payment = $647/mo.plus tax.
Due at signing: 1st payment, security deposit, license/title fees. ($1600-$1700)
Never put $5K down on a lease... If you have trade equity, have them cut you a check for the balance..
Hope this helps,
kyfdx
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Also, regarding a security deposit, is paying a security deposit a trade off between a lower money factor (and thus lower monthly payments) and the risk that you'll never see the deposit again.
I have a 1999 Volvo sedan that is fully paid for and would like to trade in and Lease a BMW X5.
Any thoughts on how I should deal the trade in into the Lease values.
Thanks for any info
Bodhi24
As to the second question, I'm not sure what risk you are referring to.. regarding the security deposit.
regards,
kyfdx
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I was quoted the following 3.0 X5 3YR/36K miles
Residual 59%
money factor - .012 ($500 security deposit)
or factor of .00135 (no security deposit)
Assignment fee $895
Do the factors seems reasonable?
What is the assignment fee for - I was told that it was a BMW Finance charge that could not be waived - is that correct? Should I expect some fees to be charged no matter what to cover paperwork/termination or something else.
Thanks in advance for any help/comments
The base money factor is .0010.. w/security deposit.. The dealer is marking it up to .0012 for extra profit.. The maximum markup allowed by BMWFS is .0004, for a total of .0014..
The acquisition fee (aka bank fee or assignment fee) is $625.. I believe that BMWFS only allows them to mark it up $200 to $825. It's true.. this fee cannot be waived, except for an addition to the money factor of .0003... It is much better to pay it, or roll it into the lease payment..
There is a disposition fee at the end of lease.. but, that is waived, if you lease another BMW..
I leased a BMW just a couple of months ago.. Other than the $625 acquisition fee and the security deposit, my other charges came to $114 total.. That covered title/registration/license plates..etc.. So, it is definitely possible to do a lease deal without getting soaked with extras..
I've leased quite a few cars, and other than over-mileage charges, the largest "wear and tear" charges I've had is $70 for a cracked marker lens.. This included one car that had $9000 of body damage (repaired, naturally).. Every turn-in inspection I've had, has been more than fair.. I haven't seen any evidence that the security deposit has anything to do with it.. Most inspectors don't even know if you have one or not....
regards,
kyfdx
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1. GAP Insurance - the dealer tells me the BMWFS covers that automatically - is that true? or will I need to pay a separate amount for that when I pick up the leased car.
2. Disposition fee - is that a standard amount or can the dealer mark that up? (I realize that it will be waived if I lease a new BMW again)
3. Assignment fee - the dealer tells me that a sales tax is due on this fee. I'm in Massachusetts and while this may vary from state to state, I was curious on whether it is typically taxed by states etc.
4. I signed a motor vehicle purchase contract detailing the terms of our agreement (i.e. trade in (I have positive equity) as well as monthly lease payments and amount due at signing of lease etc). I am curious if there are any other "tricks", last minute fees or other items that are brought up when the lease is signed that I should be aware of or prepared for so as to avoid any surprises - just curious.
Thanks in advance for any advice.
2) $350.. the dealer isn't involved with this..
3) $625 is base fee.. BMWFS allows the dealer to mark up by $200... Typically, this is taxed..
4) If you have everything in writing, I would expect the deal to be exactly that.. If it isn't.. firmly insist on it.. Most BMW dealers don't play too many "last-minute" games.. They usually give you the bad news right up front..
regards,
kyfdx
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I'M CONSIDERING ASSUMING A LEASE ON A 2004 X5 4.8
LESSOR PURCHASED 10/04
3YR/36,000 MI, $.20 OVER
PURCHASE PRICE $71,307.
PAYOFF $60,458.
RESIDUAL $37,791.
20 MOS. LEFT @ $1241.93
19,000 MI, NEW TIRES, EXCELLENT COND., MOST OPTIONS
LESSOR WIIL PAY 2 MOS. & I P/U SECURITY DEPOSIT $1350.
WILL THIS AUTO BE WORTH $37,791. IN 20 MOS?
60 payments at 5% interest would only be $1142/mo..
I'm assuming that if you are worried about it being worth the residual, that you intend to buy it, anyway?
If you buy it, you won't have to worry about mileage restrictions... only 17K miles left for 20 months.
regards,
kyfdx
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FOR NO MONEY DOWN... EVEN GET $$( LESSOR PAYING DOWN 3 PAYMENTS). WHAT I'M NOT SURE OF IS THE VALUE OF $37,791. IN 20 MOS... IS THERE A FORMULA TO DETERMINE ?
GETTING A LOAN FOR $60K WOULD RUN ABOUT $1172. BUT REQUIRE $6500. DOWN.. PLUS IF YOU DIVIDE OUT THE BAL OF THE THE LEASE PAYMENTS $19870.(LESS THE PAY DOWN) PLUS THE RESIDUAIL OF $37791 COMES OUT TO LESS THAN $60K....AND
I WOULDN'T BE UPSIDE DOWN IN 20 MOS IF I WANTED TO SELL,
NOT TO MENTION LAYING OUT $6500. & BEING MORE INDEBITED...
I DON'T RUN MORE THAN 7TO800 MI PER MO.
DO'T KNOW IF YOU RECED THIS REPLY B4, DON'T MEAN TO PESTER.
BOB
Now.. let me adjust my bi-focals...
Okay... I see your point.. I don't know of any way to know for sure what the car will be worth in 20 months.. If you think you might want to ditch the car at that time, then by all means, assuming the lease has a lot less risk than buying the car...
Not sure who quoted you the loan payment... but, you should be able to get an $1150 payment on a loan with no money down... It sounds like they might be quoting a 9% APR loan...
This is still a lot of money.. even for a $70K MSRP vehicle.. You'll be making 17 payments net, after getting the security deposit back.. Even dividing that over 20 months is close to $1000/mo..
So.. not the deal of the century.. But, if you want a nice ride for a short time at $1K/mo., you could do worse..
regards,
kyfdx
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Base money factor is .0010
regards,
kyfdx
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06 X5 3.0, black sapphire,cold, premium, rear climate, auto, heated steering, rear airbags, self dimming, xenon.
MSRP (including dest) 50,905
Now the deal:
24 mos, 15k miles per year (upgraded from 10k), money factor .0015, residual 72%,i believe cap cost is msrp (if that makes sense).
I am told that this is a deal the dealership is subsidizing with BMWFS and that nobody can touch it. They want $2500 down (TTL), no sec deposit, and payments of $550.00 per month.
I would greatly appreciate any help you can provide. Also I am in no hurry. My guess is that SAV/SUV sales will continue to be soft resulting in more incentives. Anybody heard anything?
Hello. May I ask what dealer (what state do you live) gave you those lease rates? I was recently quoted on a 36 mo. 12k mile per yr. lease a residual of 59%, money fact .00115 on a similar priced '06 X5. Does the $550 per mo. include tax?
Just curious about the differences.
Thanks!
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I am currently shopping around for lease deals on a 3.0 X5. I've heard from one dealer that the money factor is staying the same at .001, but I'm not certain. Any news on the new BMW programs for March? I'm interested in either a 36 or 24 month lease with 12K/yr. I'm also curious if 3% over invoice is a negotiable purchase price for this vehicle, or should I be able to get closer to dealer invoice? My best deal found in Feb was a little more than 3% over the invoice, ~49K. Thanks.
Car_man
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The problem is BMW won't extend my lease unless I have a purchase order for the X5. I have been told the new ones won't be ready until September. My dealership told me that the best they could do is offer $2200 off invoice when they come out. I am looking at a highly loaded 3.0i. My salesman told me that their profit for this is car is typically $3800 and they usually don't discount when new models roll out.
Is this a really bad offer to take? I am really new to leasing so I am not sure how much of risk I am setting myself up for getting a really bad deal. I can afford whatever the end payment so that isn't my concern, just not getting completely taken.
Thanks so much in advance for any help.
Anne
PRICE WITH AUTOMATIC TRANSMISSION: 44,470
SELLING PRICE: 42,150
MONEY FACTOR: 1.15
RESIDUAL FACTOR: 59%
MONEY DOWN: 0
MONTHLY PAYMENT: 520.66 + tax = $563
License: 343
Bank Fee: 625
Documentation fee: 45
Security Deposit: 0
First Payment: 563
#1. What is the bank fee and documentation fee and why do I have to pay them?
#2. Why is money factor 1.15 and not 1.1. Are they trying to rip me off and if so, how do I tell them to drop it to 1.1?
#3.Is this a good, decent or average deal?
What are your payments and were are you located? I may be interested.
Based on my reading of the posts in this discussion, the base money factor for March is 0.0010.
However, a lease broker with whom I am shopping says that the money factor is 0.00115. He claims that the 0.0010 is only available for repeat customers(BMWFS loyalty program).
(Dealers are trying to get me at 0.0014, and I already read the warning about that in the previous postings.)
What is the actual money factor? Is it just a matter of standing firm in order to get the rates discussed in this forum.
Thanks...AlexanderV2
Brokers don't work for free.... He's looking for his cut.
My question still stands. What is the base money factor for march. Is it truly 0.0010 as this discussion threat contends, and is it available for non-repeat customer(non loyalty program).
Your note implies the broker is lying. This goes without saying, especially when his lips are moving, but what is the real money factor.
I thank you in advance for you input.
AlexanderV2
The bump for not making the security deposit is .00015, resulting in your quote of .00115...
So, you can get the same rate.... just make a security deposit..
regards,
kyfdx
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I will confront the broker with this information. As I recall, I specifically asked him to structure a deal where I have zero down, and minimal drive-off. Therefore, he may have quoted me a number with no security deposit. I will verify this.
Can you give me an idea of what a fair discounted selling price would be on a X5 3.0 with an MSRP of 51K.
I thank you in advance for you assistance.
Thanks...AlexanderV2
Off the top of my head, I think you should be looking for a discount of $2500-$3500 from MSRP..
regards,
kyfdx
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Can you tell what the lease payment would be on a 2006 X5 3.0, 36 months/36,000 miles. I plan to pay a security deposit of $625. MSRP of $51,000. Selling price of $47,500. Money factor of 0.0010(with security deposit)
If possible, please include details of how this number is calculated.
Thanks...AlexanderV2
- Premium Package
- Rear Climate Package
- Sport Package
- Adjustable Ride Height
- Heated Steering Wheel
- Heated Rear Seats
- Navigation System
- Premium hi-fi System
Cap Cost = $61745.00
Residual = $36762.15
Money Factor = .0014
I'm in New England and this is the quote I've received. Does this seem to be in line or should I push for a lower Money Factor?
I am in a bad leasing situation. My BMW530 lease expires at the end of next month. I have decided I want an X5 but I would really prefer getting the newly designed version as I think the features/design on the current one are dated.
The problem is BMW won't extend my lease unless I have a purchase order for the X5. I have been told the new ones won't be ready until September. My dealership told me that the best they could do is offer $2200 off invoice when they come out. I am looking at a highly loaded 3.0i. My salesman told me that their profit for this is car is typically $3800 and they usually don't discount when new models roll out.
Is this a really bad offer to take? I am really new to leasing so I am not sure how much of risk I am setting myself up for getting a really bad deal. I can afford whatever the end payment so that isn't my concern, just not getting completely taken.
Thanks so much in advance for any help.
Anne
You don't say if you are leasing the new X5 or not. Leasing a brand new design can be very expensive since money factors are usually high.
My info is the 2007 X5 will not be available until late fall. The new X5 will also be bigger and heavier, I'd want to drive it first. I actually really like my 2004 X5.
Dave
The doc fee is just a charge that dealers add to vehicles' prices to cover the cost of doing the paperwork and often to add a little profit to deals. A doc fee of only $45 is very reasonable. Most dealers add doc fees of several hundred dollars to every deal.
BMW Financial Services' current buy rate lease money factor for a 36 month lease of a 2006 X5 is .00100. The reason why your truck's factor is higher is because you are having your security deposit waived. BMW FS charges a security deposit that is equivalent to vehicles' monthly payments rounded up to the nearest $50 increment on every vehicle that it leases. Consumers can opt to have this deposit waived in exchange for a .00015 increase in their vehicle's money factor. That is what is happening with your lease.
A base 2006 BMW X5 3.0 has a spread of a little over $3,600 between its full MSRP and dealer invoice prices. You were quoted a discount of a little over $2,300 on this truck. Tis probably amounts to between $1,000 and $1,500 over dealer invoice, which isn't bad. For additional feedback on how much you should pay for this truck, make sure to stop by the following discussion: "BMW X5: Prices Paid & Buying Experience".
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Can you help me by filling in the blanks at the bottom. Thanks in advance for the help. This will be the 3rd car you have helped me with.
2006 X5 3.0
Premium Package
Automatic
Cold Weather package
Park Distance
Rear Climate Package
Rear Door Mounted Airbags
Heated Steering Wheel
36 Month Lease 12k miles per year
MSRP: $50,455 (based on Edmunds)
Money Rate: .001 (based on this forum)
Sell Price:
Residual:
Thanks,
Frank
Cold wether $1350
comfort seat $1200
rear climate $400
rear door air bag $385
heated steering wheel $150
Panarama Moonroof $1320
For a total of $58530, I got $706 a month with 12K/year.
My money factor is 0.0014 and down payment is $1650.
I think it is good deal, any inputs?