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2013 and earlier BMW X5 Lease Questions
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After offering to sell me the car for dealer cost (08 X5 4.8 with tech, sport, 20" whls, rear climate pkg, cold weather pkg, premium pkg, prem sound, i pod interface, $64k, money factor .27) I see a "bank aquisition fee" of $825 added on to the lease as an addition to cap cost. Is this common for Calif. dealers or are they trying to sweeten their end of the deal?
Thank you!
The base fee is $625, and BMWFS allows dealers to mark it up by $200 for extra profit.
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1) how much TOTAL up front
2) months and annual mileage of the lease
How can I score great new lease ending lease with low mileage?
My lease ends in May on 2005 X5 3.0. My mileage is aprox 20K. 10K less than allowed 30K. I bet that’s a steal for a dealer.
I want to lease 2008 X5 3.0. How can I benefit from it? What price range should I get on 3 yr 10K/yr lease with 0 down in NY/NJ?
Also, for how long can I extend my current lease?
Any suggestions are greatly appreciated. Alex
This is what was quoted from a dealership in New Jersey.
2008 3.0 X5 $51,600.00 includes, premium pkg, cold weather pkg, rear climate pkg, heated rear seat, navigation and freight.
inception cost are 2000.00 which includes: 799.00 1st payment, 375.46 cap cost reduction,825.64 motor vehicle term, doc fee, lux tax.
The price he quoted was 799.00 including taxes. Why Do i have to pay over 150.00 more for the exact same car. Is this fair our he is trying to pull one over on me. It is the same car salesman that I purchased the first X5 from.
I thought because it was the same sales person and dealership and car I wouldn't have to go through the haggling this time. Any Info or advice you can give will be greatly appreciated.
My question is below yours and I would want to know about the milage issue as well.
Hope this helps
The sales price of the 2005 X5 vehicle was 50035.10. Using the Edmunds lease calculators, I cannot get my lease payments of 630.00. Please reassure that this works. So I can negociate with confidence. If I can't get the exact same lease price using the exact same numbers that was documented on the 2005 lease agreement and quoted to me by the salesperson in 2008 what use is it?
So my question is: How was my 2005 lease price calculated and why is the lease price for the same car now 799.00 instead of 630.00? And if he is taking advantage how is he doing it?
If it helps both cars have Xenon lights, premium pkg, 6cd changer,rear climate pkg, cold weather pkg, Navigation, heated rear seats.
Also if anyone else is leasing a BMW in the NYC NJ area contact me and we could unite our efforts Ajastorm2002@aol.com
The 2005 X5 was 5 years into its development and sales had started to slow down. what manufacturers do in these situation is to increase the residual rate in the lease (one of the major determinants of your lease payments) This way the payments drop and they hope to be able to maintain consistent sales numbers.
We are not at that point yet with the new X5. The car is selling like hotcake and BMW has no incentive to take a financial hit by increasing residuals, The payments of 799 vs. 630 reflect the differences in the residuals between the two cars.
If you want to know whether you have the best deal proposed to you, you need to look for these:
1) The selling price of the vehicle
2) the money factor used to govern your lease
3) make sure you do not put any extra money down towards the lease
Then, if you calculate your lease, you will know whether in fact you have a good deal or not
2008 X5 3.0, msrp 61,075
- $0 down, taxes in payments, $809.50 per month for 12k/36months
- security of 749, bank fee of 625 and dmv for NY
---any thoughts if this is a good deal? thanx!
I am starting not to trust this entire process, including information obtained here. This is not my first lease, not even my first X5 lease. This will be my 3rd. When the X5 was first introduced it was a hot selling car as well. Everywhere I went salespeople where say 800.00+ for an X5 3.0 series with 12/36 lease package. After rigorous negotiation I got the same car for 650.00 including taxes. That was in 2002 I believe. In 2005 it was the same scenario -- I got the car for 630.00 including taxes. Now it is 2008 I have been quoted prices as high as 900.00. I recently was quoted a price of 702.30 down from the 799.00 including taxes. Each car was approximately $52K
As I am sure you know. when you lease a car you get the money factor, the final sales price and the residuals. You can easily compare that vehicle with the one i wish to lease now. It is all pretty much the same. The money factor, the residual, in fact the 2008 X5 cost a little less.
I cannot find a reason for this car to cost over $150.00 more. I know sales people will attempt to get as much as they can. But the consumer should be able to what is an acceptable lease agreement. You say it is all about the numbers, but in this case and I suspect many others the number don't add up. Just like I can't even create either one of my lease agreement on the basic lease calculator. Even using all the numbers on my old leases(which I still have).
It should be easy to say at X5 3.0 50K 12/36 lease should be X
52K 12/36 lease should be X
54K
55 etc.
X5 4.4
These are the standard lease agreements. at least consumers would have a ball park in which to negotiate.
Anyway, I hired a consultant. I don't have the time to do the negotiations again and I shouldn't have to do this with a salesperson and dealer that I already had an acceptable deal with. It will cost me $500.00 but in the long run I will save over the course of the lease.
This whole thing makes me wanna buy a saturn.
ajastorm2002@aol.com
Please don't take this the wrong way, but I suspect you do not have an in depth understanding of how a lease works.....most people don't and that is how/why dealershiips screw people over.
If you want the numbers verified, just provide them on this site and I would be happy to run it for you. To do so, I need the following:
1) MSRP of the car
2) negotiated selling price of the car
3) the upfront fees-ITEMIZED, including, but not limited to, acquisition fee, doc fee, MACO, title fees, any taxes, security payment (if required) etc.
4) the money factor used
5) the residual percentage used (comes from the term of the lease. Meaning 36 month lease at 12k miles yeear has a different residual than 10k miles)
6) the tax rate for your state and WHETHER THE TAX IS CALCULATED ON THE PORTION OF THE CAR YOU LEASE OR ON THE ENTIRE SELLING PRICE.
Food for thought, the consultant makes $500 if he closes the deal for you; therefore, does he have your best interests in mind?? ONLY you can look out for yourself
2005
Sticker Pr. GCC 51,370.00
sale pr.ACC 50,035.10
agreed val vehicle 48957.75
inceptions 630.00 1st mo.
250.00 title, reg
625.00 Aquistion fee
105.50 NJ tire&REC/Doc Fee
total incept 1611.00
mo. factor .0029
residual val 31002.00
2008
Sticker Pr.GCC 51,660.00
sale pr.ACC 50,011.03
agrd val veh. 49,002.75
inceptions 799.00 1st mo
375.36 Cap cost reduction.
825.64 motor vehical, lease term, doc fee, lux taxtitle, reg
total incept 2000.00
mo. factor .0029
residual val 31047 20
NJ tax rate and I believe the tax in on the selling price of the car.
This is what has been given to me.
In my past two leases I negotiated them myself. I just don't have the time to go through the process that i went through the first two times. I din't crunch numbers as much as I talked to salespeople at dealerships - with knowledge of what other people paid. Not saying it is the right way- but a way and a way that has worked. The consultant only gets paid if he get a lease price at or under what we agreed would be a fair price. As he looks out for himself, he has no choice but to look out fo me.
All i am saying is if people had a ball park on what a fair lease price would be a lot of the number crunching might not be necessary. If you buy totally into the numbers process, then you have to talk only number where the average consumer is at a drastic disadvantage. All I am asking here is to give me what would be a fair lease price for a 51K ish X 5 BMW shouldn't be this hard.
I hope I am not comming across as insulting just frustrated , not at you nor the site - just the process.
ajastorm2002@aol.com
2005
Sticker Pr. GCC 51,370.00
sale pr.ACC 50,035.10
agrd val vehicle 48957.75
inceptions 630.00 1st mo.
250.00 title, reg
625.00 Aquistion fee
105.50 NJ tire&REC/Doc Fee
total incept: 1611.00
mo. factor .0021
residual val 31002.00
2008
Sticker Pr.GCC 51,660.00
sale pr.ACC 50,011.03
agrd val veh. 49,002.75
inceptions 799.00 1st mo
375.36 Cap cost reduction.
825.64 motor vehical, lease term, doc fee, lux taxtitle, reg
total incept 2000.00
mo. factor .0021
residual val 31047. 20
NJ tax rate and I believe the tax in on the selling price of the car.
This is what has been given to me.
.
ajastorm2002aol.com
based on the numbers you have quoted, the lease payment should be $602. I believe they are fully marking up the money factor from 0.0025 to 0.0029. Have them recalculate the money factor using the buy rate and lease should come out to $602 per month. security fee should also be waived if you have previously leased or financed through BMW Financial Services. If your previous BMW was bought outright or financed/leased through a third party bank, then security fee applies
Good luck
Have a look at this link
http://forums.roadfly.com/forums/financing/6451130-1.html
This is an archived list of BMWFS lease rates for April 2005. As you can see, the money factor for the X5 back then was 0.00125. In today's market, the buy rate money factor for the X5 is 0.0025. This reflects what I had previously said in a thread that manufacturers subside the interest and residuals to sweeten a lease deal to keep moving cars. The difference in money factor between 0.00125 and 0.0025 is why the same car today costs XX more.
In 2005, your dealership raised the money factor from 0.00125 to whatever number to make your $630 a month (it was not 0.0021 as you had thought). That is why you were/are not able to calculate the numbers properly. Keeping things as simple as possible is the best way to weed your way through all the fees and get an honest number.
Good luck with everything
I did this with several vehicles: BMW, Porsche Cayenne, Range Rover. The money factor adds about 200.00+ dollars per month to the lease price of the vehicle. I have since gotten the price of the $53,155.00 BMW X5 down to 722.65 including taxes, down from the 799.00 excluding taxes.
Just shows they were trying to beat me from the beginning. I even had one salesperson hang up on me insisting that if I am trying to purchase a BMW I shouldn't quibble over $20.00 - 30.00.
rezf, thank you for your help and I hope I wasn't too obnoxious. When you are right I have no problem with admitting it. And you were ABSOLUTELY right.
I still believe that consumers would benefit from knowing what the ballpark fair price for a decently equipped vehicle, so they might know where to start. So with that in mine I will share my experience thus far.
The dealer i leased my present 2005 BMW X5 offered me a lease of 799.00 excluding taxes for the following car. X5 3.0, 36/12, Sales Price $51,660.00 with options: Tech pkg, coldweather pkg, rear climate pkg, xenon lights, premium pkgs,heated rear seats, ipod adapter..
I have since been offered for 722.00 including taxes for the same car at another dealership. So if anyone pays more than that, for a similarly equipped car, they might wanna ask another dealer. I will still try to get this car cheaper. If I do I will let you know, so that others will know the ball park of a NJ X5 with similar options.
Also for those that want, between this current deal and the 799.00. I got offers of 772. 00 including taxes, 750.00 including taxes, before the 722.00. I would be happy to tell you the dealerships of my rejected offers when i finish - I may have to go back to them.
rezf thank again -- oh yeah is the $722.00 including taxes a good deal?
What I was/am saying is the best way to figure out the best deal is look at the MSRP of the car. Find the invoice price on Edmunds.com, then add $1000-$1500 to the price of the invoice. This should be your Cap Cost. Do not put any money down...only pay the upfront fees...And insist that they use a Money Factor of 0.0025 to calculate the lease. Whatever that monthly payment comes out would be the best deal
I might go with the 722.00 per month including taxes. That is closer to what you said a fair price would be. Also I was going to roll the taxes into the monthly lease payment, but the money factor would be on that amount so I am paying them up front.
Thanks again
I will let you know how i made out
Again regarding Msg# 682, what is included in upfront fees? Also you mentioned in Msg# 652 that the March money factor is/was 0.0021. What happened? Why is it now 0.0025? Will this be different for April? What about residual% for April?
Sorry for the questions, everyone. Thanks in advance. Good luck to all of us as we try to get the best deals.
That was my type mistake re money factor. For march it is 0.0021 not 0.0025. The rate for Feb was 0.0025 .
Residuals do not typically change from BMWFS (they are already inflated to make leases more attractive). The factors that likely change from month to month are the money factor and any incentives/cashbacks towards a new vehicle. Note, this is model specific and only given if they want to move a particular line more rapidly to deplete excess inventory. The other thing that changes from month to month is what's called "owner loyalty program." For this, they allow existing BMWFS customers (ones that have financed/leased) or ones whose contracts had ended in the past 6 months a special incentive towards a new lease (which is some cash back and a lower money factor)
As for April, I do not think the money factor fluctuates with the Fed rate as seemlesly as some think they do. If BMW wants to lease more cars, they will lower the rate, plain and simple. Spring is a VERY active and busy season for dealerships so I don't think so. However, if you want a bargain, you can count on August, as BMW wants to clear left-over 2008s before introducing the model year 2009 in September-October
Car_man
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Let's work up a sample lease payment on this truck and see what we come up with. For now I will assume a $3,000 discount. According to my calculations, if you were to lease a 2008 BMW X5 3.0 that has an MSRP of $61,075 and a selling price of $58,075 through BMW Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $795. That's pretty close to the payment that you were quoted. This tells me that this is a pretty good deal.
Car_man
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Even if you have leased a BMW in the past, if you are not a current BMW Financial Services' lessee you are not eligible for any owner loyalty specials and you would have to pay a security deposit on your new lease.
The best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible on the exact model that you want and then have the dealer calculate your monthly payment using its buy rate lease money factor. The selling price that you were quoted on the X5 that you are considering leasing isn't bad. It is tough to say exactly, but you are probably at around $1,500 over dealer invoice or so. If you are in an area that has a decent level of competition, you may want to consider comparison shopping with a couple of other dealers just to make sure that you are getting the best possible deal. Once you have found a selling price that you are happy with, have the dealer calculate your truck's monthly payment using BMW Financial Services' buy rate lease money factor of .00210.
Car_man
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2008 X5 3.0- msrp 62,070, invoice 57,015, offer of 58,500
2008 X5 4.8- msrp 69,670, invioce 63,195, offer 66,700
-this is to purchase the car, what do you guys think? thanx!
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
MSRP (including all options) = $58,125
Residual value 61%
Lease end vlaue = $35,456.25
Term = 36 mos
Money Factor = .0021
Sales Tax = $2,586.68
Initial Cap Cost = $56,250
Adjusted Cap Cost $58,784.34
Amount due at sigining = $1,590.75
10k mi/year
Monthly payment = $845.91
Is this a good lease deal? I'm in the NYC Metro area. How do I determine what the actual sale price of the car is? Also, how much over invoice should I be negotiatiing for?? Any help would greatly appreciated !!
I just priced an X5 - the first price I got was $2,000 off list, which is about $2,300 over invoice. I hope I can do better than this.
BTW, I got the same 61% residual, .0021 MF, 36 mo, 10K/year.
MSRP 55.925
Sale Price 51, 725
But this was on March 31
The X5 as described above, comes in at around $750/month.
I'd like to know what I can realistically pay over invoice or below sticker (for either car).
Your numbers add up fine, but I don't think it is much of a deal. If you were to get the negotiating price to $1000 above invoice which would be $54475 (which is a no brainer in this market) then you can expect the same lease payment to drop to $792 a month
I was thinking of going back to them and telling them if we are using the .022 money factor then I am willing to offer 62,250, basicially 1K over invoice.
Any opinions on this deal ?
Options: Premium Pkg, Rear Climate Pkg, Technology Pkg, Heated Front seats, Running boards, floor mats and 3rd row seat.
Monthly payment: $781.91 with $1,284.76 down payment.
60% residual and money factor .00225 (I would be curious if anyone thinks I should have gotten a better rate here)
3 yr - 12k miles a year
Ordered directly from factory and delivered to our home address. Had a great experience with the whole process using a dealership in Raleigh, NC.
Did you inquire about a BMWFS loyalty discount? How was your experience during the inspection of the car you returned. How many inspections did you have to go through?
On your SAV, what was MSRP and your agreed price? Then you'll know how close you were from invoice price. I thought money factor was .00210 for April.
What is your tax rate in Raleigh, NC and did you pay taxes up front?
I'm in the process of dealing for my 3rd BMW from same dealer and salesman (2008 X5 3.0si) and second time around with BMWFS. My specs...
Sport Package
Rear Climate Package
Gray Nevada Leather
BMW Assist
MSRP $53,375
Invoice Price via Edmund's $49,105
Told salesman my price...$800 over invoice. Does anyone think he'll make a deal? I welcome any comments.
Tax rate is 3% in NC and is incorporated in the monthly payment. I paid roughly $1,000 over invoice. The down payment break out was:
1st months payment($781) + Fees (472) + Tax ($14) = $1,267.
manneydom, I think you have good shot with $800 over invoice. I didn't return my other car, so can't help you with the inspection process.