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2013 and earlier BMW X5 Lease Questions
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Comments
I presume you have talked to BMWFS about this. If not, and if you would like to keep the vehicle, by all means do so.
I opted to not purchase it, gave it back to the dealer, and they made it a CPO vehicle.
Car_man
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I have a 2006 X5 with a 36 months/15 k miles per year lease, which is ending in June 2009. Unfortunately, I'm at 41,000 miles right now.
Is it true that I can call BMWFS and purchase more miles? And if so are their penalties that may come up when I turn the vehicle in? Or decide to purchase the vehicle?
Or is it better to turn the vehicle in early and get another BMW?
Thanks
Yes.. $0.16 each.. Looks like you'll need about 5900 more miles.. That's $944. They'll even amortize it over your remaining payments, if you don't want to pay it all at once.
And if so are their penalties that may come up when I turn the vehicle in? Or decide to purchase the vehicle?
If you are still over, after purchasing extra miles, they are then $0.20 each.. If you think you might purchase, then don't pay for extra miles now, as that money will be lost.
Or is it better to turn the vehicle in early and get another BMW?
Probably the most expensive option..
regards,
kyfdx
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Can't say for other makes/banks...
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I don't know what a dealer would pay BMW FS so they could turn around and sell it to you. They would have to make a few bucks in there somewhere, so it seems working through the dealer would be more costly.
Hope that helps.
Is this a good deal?
cvp
Depends how badly you want this car.
My wife chose between an Mercedes ML350 and Lexus 400H, both loaded with MSRP of $53K, a bit higher than yours, with 15000 (not 12000) miles, no cap reduction, for $580 monthly. That's $150 a month x 36, or $5400. I don't think it's worth $5400 a month extra for the X3
One dealer quoted me .0022 MF and .54 residual.
Incidentally, once I received $580 monthly, all the competitor brands (except BMW) matched.
My wife decided on Lexus 400H - about the same $53K MSRP.
We received a nice offer from Mercedes in Thousand Oaks -- (are you in So California), but we avoided Mercedes in Calabasas, because the guy tried to add $300 to the bank fee.
Nice to know this -- Lexus lease charges no turn in fee.
Includes:
Cold Weather Pkg.
Premium Pkg.
Premium Sound Pkg.
Rear Climate Pkg.
Sport Pkg. ZSP
Technology Pkg.
Space Saver Tire
Comfort Access
Running Boards
Sport Pkg. #330
HD Radio
Satellite Radio
MSRP: 72070.00
MF: .0017
36 months
12k miles
Tax is supposedly included, but I forgot to ask if they factored in the fact that PA leases at taxed at 10%. The dealer is in New Jersey.
5000 drive off. Lease is $864/mo
Could you someone let me know if this is a good deal.
2009 x5 4.8i
MSRP: 70,675.00
MF: .00155
Residual: 59%
10k miles
zero down
Drive off: $1,171.00 ( First payment + Registration )
Monthly including utah tax: $949.17
Is this good?
tidester, host
SUVs and Smart Shopper
tidester, host
SUVs and Smart Shopper
MSRP: 72,825.00
Negotiated: $68,755.00
Down bmw incentive (free for me): $2500.00
MF: 0.00155
Residual: 59%
Due at signing: $1,848.74 (1st payment + dealer fee + transfer cost from CA to Idaho)
Total a month with Tax included: $905.79
Without Tax: $847.72
Cheaper then my original. I just had to pay the extra 171.00 cap cost and 550.00 in transfer. but it came out cheaper then my original bid and i get an extra package and option. thoughts?
Also, BMW just introduced a new $2,500 cash incentive on leases of this model. Make sure to take this cash into account when negotiating its selling price.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
MSRP - 55,120
Residual - 58%
MF - .00180
36 month lease
I am offering 48,480 (50,980 invoice - 2500)
My lease calculation comes to 557.42 (7% tax for NJ)
Not sure about the basic fees but assuming within 2000.
A question i had was what determines the 10k or 12K lease? Will the Resid or MF change ?
Thanks for any feedback
58% for 10K
57% for 12K
55% for 15K
Thanks
also appreciate buying experience .....what are people paying under MSRP
Here is the lease purchase from fields bmw in orlando florida..not sure if i would recommend them.
10k miles, mf .0043 / approx 898 per month...
no discounts
msrp of the car 57800 negotiated price down to 54895..
but think I got screwed on the money factor around 5% ..any thoughts?
Thanks....
I desperately want to replace my totaled X5 (2004 4.4i) with a new X5, but BMW does not seem to want to play ball in this economy. Sadly, I'll probably end up buying an MDX this weekend.
What fees are negotiable and can I ask dealer to waive?
Please provide the mf and residuals on a new '08 and '09 X5 3.0 with leather seats and heated seats.
10K
12K
15K
Are lease rates on CPOs aggressive?
I'm open to any and all suggestions for negotiating an aggressive lease deal on above specs with no money down. Thank you so much!
Also got a phone quote from another dealer for $648/month based on the same terms above except only $24++ due at signing and a MSRP of $54,+++.
BMW is providing a $1,750 cash incentive and a .00030 money factor reduction on this truck to current BMW FS lessees right now.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
BMW is providing a $1,750 cash incentive and a .00030 money factor reduction on this truck to current BMW FS lessees right now.
If I was in the market for this truck right now, I personally would shoot for a selling price of a couple hundred dollars over dealer invoice minus the available cash incentive.
Car_man
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As a returning lessee, BMW will waive its security deposit on this truck for you for free, but you will not be able to get them to waive BMW FS' $725 acquisition fee.
BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 X5 3.0 with 15,000 miles per year are .00180 and 55%, respectively. If you were to lease this truck with only 12,000 miles per year, its residual value would be 2% higher. Its 10,000 mile per year resid would be 3% higher.
I don't believe that BMW is providing lease support on the 2008 X5 any longer. I am not familiar with BMW's current lease program on CPO X5s.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
2 cars
#1 cold ,premium ,technology,Ipod addapter rear climate..$56675..12 miles..36 month.. $810..That sounds HIGH!!!
#2 premium/ cold pkg/ ipod...Msrp 54425 ..Same terms as above $729.. that sound high also..
.I want a payment of $650,NO MONEY DOWN everything included...,What will the Msrp be then? I am returning an x5 in 3 weeks so Im a loyal customer.. NY
Without seeing how the dealer who quoted you structured the deal, I have no way of telling you how he/she figured it. But, I can surmise that he didn't factor in the loyalty cash and ran you at the base mf w/o the loyalty reduction. Then car # 1 could realistically be $810/mo.
Car # 2, same scenario; $607/mo + tax.
You've probably heard this before, but as a reference, for every $100 you add or subtract on a lease, figure about $3 bucks to your payments.
In short, the best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible on the model that you want and then have the dealer calculate your vehicle's monthly payment using its buy rate lease money factor. BMW Financial Services' current buy rate for the '09 X5 3.0 is .00180.
You can look up the MSRPs and dealer invoice prices for the trucks that you are interested in over in the New Vehicle Pricing section of Edmunds.com.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
My question is this ... I cannot find used pricing for 2009 vehicles on KBB and other like sites, and I'm trying to determine what's a fair price for a demo/loaner with maybe 5-10K miles on it. If going price for brand new is right around invoice today, then how far below invoice can I push these dealers on these "used" vehicles?
Thanks in advance.
As for BMW's money factors, it can be a bit confusing for multiple reasons. The mf can flucuate based on whether or not you're a repeat customer, whether you pay a security deposit, etc. BMW leases have definitely been more attractive as of late for "loyalty" customers.
Good rule of thumb for figuring out a good price on a demo ... .25-.35 cents/mile. Meaning, if the vehicle has 5000 miles and you figured say .30 cent/mile, that's $1500. Therefore, if you could realistically buy a "new" one for, let's just say $200 over invoice, then you should be able to snag the demo at $1300 below invoice. Also, if it's an '08, deduct another $1000 or so.
You also need to consider the warranty too. Ask them if they actually have an in-service date on the vehicle. They probably do, especially if it was driven 5k or so, but you'll wanna' see how that affects the manufacturer's warranty, since the time and mileage started ticking from the "in-service" date.
1st Formula ((your cost*(list price*residula percent))/term in months
2nd Formula ((your cost+(list price*residual percent)*money factor
when you add the results of those together you will get your payment
Once I had this negotiating got much easier
hope this helps
Lease Payment Calculation Formula:
(Cap Cost – Residual Value) / Term = Depreciation
(Cap Cost + Residual Value) X Base Rate = Interest
Depreciation + Interest = Base Monthly Payment
Terms Used in Lease Formula:
CAP COST = Vehicle Purchase Price (amount financed)
RESIDUAL VALUE = MSRP (window sticker) X Residual %
TERM = Length of Lease in Months (3 years = 36 months)
BASE RATE = Dealer’s Buy Rate (dealer can mark this up for profit)