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BMW X3 Lease Questions

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Comments

  • talyvantalyvan Member Posts: 17
    You're right bdr127, I though about that too, perhaps thay did that to "give" some tax savings, but that'll be easy to figure it out by reading the contract, I don't have my contract with me at the moment, but I remember that there are 2 places where you can see the tax part, one is on the "Gross Cap Cost" breakdown (this will give you the total tax to be paid) and the other one on the "Amount due at lease" breakdown, this one will give you the tax amount saved by the trade-in.

    When I said it sounded fishy, was basically because of that; In my mind there should be no hidden or "adjusted" numbers; please Mr. Dealership, explain every single line to me, it'll take only 5 minutes.

    If the Net-Trade in allowance says "N/A", indeed it might be a tax saving thing, since they say Trade-In ammount $xx, Amount owed $xx.. that clears, so you roll $0.00 into your purchase.

    My initial concern was that they were rolling $28.5K into the pruchase.

    As of the total contract... might be that by the time you leased the car, there was no incentives.. :( so, you got the full hit of a higher depreciation and higher money factor.
  • dwilly78dwilly78 Member Posts: 11
    The dealer will do 5.5% discount on MSRP of the X3 I pick and then on a 39 month lease with 10,000 miles per year, I would get a 68% residual and a money factor of .0013. He hasn't sprung the bank fees and dealer fees on me yet, but the lease terms seem pretty reasonable. Any thoughts?
  • bdr127bdr127 Member Posts: 950
    The dealer will do 5.5% discount on MSRP of the X3 I pick and then on a 39 month lease with 10,000 miles per year, I would get a 68% residual and a money factor of .0013. He hasn't sprung the bank fees and dealer fees on me yet, but the lease terms seem pretty reasonable. Any thoughts?

    Sounds like a great discount.... As far as bank fees, BMWFS has a $625 acquisition fee that they allow dealers to mark up to $825. Note that this fee is not a dealer fee, but a fee charged by BMW. Dealer doc fees vary by state and dealership, so you'll have to ask what those are...
  • talyvantalyvan Member Posts: 17
    Sounds good thus far.. You're not giving much info on the car, but assuming the one we just got (MSRP: 41,895), you're looking at a discount of $2,304.. which puts you on the ballpark of the discount we've been getting. Good Job!

    Now, only if your driving habits allows it, go for the 10K/year, otherwise shoot for the 12K and don't worry about penalties if you go over, because the reallity is that 3 months before the lease ends, they'll start to offer you a new deal; so you sort of have about 3K miles to play with.

    Money Factor looks ok, if it gets pumped to 0.00155 still is good. The $625 will be pretty much impossible to get away from.
  • jvergjverg Member Posts: 8
    Wow!! Has the MF for April really dwindled to .0013!?!?!?
  • pgeterspgeters Member Posts: 12
    If it is not to late, hotelz, I pretty much just printed out the deal that was listed in one of these posts (see #141 for my deal) and took it into the dealer and said that I wanted to see if they could match a deal. I was prepared to say, "Please don't waste my time. If you can't match it then just let me know and I will move to the next dealer", (I live in the SF bay area and have plenty of dealers to try) but never got around to it. They asked what the deal was, I gave them the paper, and they said they could.

    It would have been better to come in with the exact example deal that I wanted but I was hoping for a few more options. Since I wanted more options than that deal they tried to jack the price up unproportionately, but I stuck to my guns and told them I needed to feel good about the deal before I could do it. I got them to come down $40 per month from their first offer. They must have been in the right mood because they backed down pretty quickly and gave me the proportionate deal I was looking for.

    Also, make sure you ask and calculate out the actual depreciation rate and money factor for your deal while negotiating, because they may not be telling the truth (no, really?) and the money factor isn't quoted on the lease agreement, just the total rent charge. They said they were matching the deal when they first quoted me the payment with the extra $40 a month, but they were not and it was hard for me to verify. Most experts say to get your best deal, then take it home, calculate it out, and think about it before agreeing.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi virginiacar. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    The dealers that told you that they are not allowed to change the selling price of the X3 that BMW is currently advertising a lease on were indeed lying to you. The selling prices of leased vehicles are always negotiable, just as if you were paying cash or financing. In fact, most manufacturers' advertised lease payments leave a little meat on the bone so to speak. I would not be surprised if you were able to negotiate a better selling price on the X3 that you are interested in than the one that is being used to arrive at the advertised lease payment.

    Car_man
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  • kjboydkjboyd Member Posts: 7
    Hi All... here is my latest paper work... does it loo good?

    MSRP: 39,770
    Cap Cost: $37,223
    Bank Fee 825 (will ask for less)
    Total Cap: 38,048
    Cap Reduction: 8,632
    net cap: 29,416.
    residual: 26,645
    total deprec: 2,770
    monthly: 77
    monthly rental 95
    base pay: 172
    tax: 13.35
    total payment $185.62
    dmv fees: $305
    advance pay: 185
    security: 200
    drive off toal 10,000
    rate .00170 (will ask for .00125)

    36 term, 12k miles.

    thanks!
  • timozonetimozone Member Posts: 1
    what is Cap Reduction and money factor? this is my first time to lease a car. Do I have to know these words before I go to a dealer? Please someone explain this.
    And one more thing, the monthly payment people listed in the column, does it included tax or not? :confuse:
  • talyvantalyvan Member Posts: 17
    timozone, I definetly recommend you to follow the links posted by the Host on post (159) ASAP, read that first, it'll clear up a lot of your initial questions.
  • jjjzzzjjjzzz Member Posts: 13
    Does the $392 monthly payment include taxes? I used your numbers to calculate the payment and got $373 before taxes.

    Thanks.
  • csamherstcsamherst Member Posts: 2
    Anyone would advise me the lease rate for May? missed the April maniac, dont know if there's still a good deal going on.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome timozone. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. Consumers who do not know how leasing works often get taken advantage of by dealers. Once you have an idea of the general principles of leasing I would be happy to answer any specific questions that you have.

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  • jencamjencam Member Posts: 1
    In my quest for info on the X3, I stumbled upon this site and have learned so much just by reading the posts. Thank you!
    However, I do of course have some questions, and I'm wondering if someone here can help.

    If I were to walk into a BMW dealership this month (May), what should my "target" residual percentage be and what should my "target" money factor be? (39 months 10K/year,
    no added options)
    I noticed many posts on this for the month of April, but I have yet to see any recent numbers.
    By the way, I'm in NY.

    Thanks!
  • mookie18mookie18 Member Posts: 15
    Here's what's posted from bimmerfest for May :
    X3 3.0i Wagon / Compare Instant Lease Quotes

    24 mo/15k mi – Residual Value 75% of MSRP – .00200 Base Money Factor Rate
    36 mo/15k mi – Residual Value 65% of MSRP – .00185 Base Money Factor Rate
    48 mo/15k mi – Residual Value 41% of MSRP – .00310 Base Money Factor Rate
    60 mo/15k mi – Residual Value 33% of MSRP – .00310 Base Money Factor Rate
  • dookie83dookie83 Member Posts: 3
    Just to let all know, there are some dealers who are really "dealing" on X3's....I just ordered a car with 18" wheels, Premium and Cold Packages, Xenons, Heated steering wheel and Privacy Glass....MSRP is over $42K and I am paying:

    $480 Per month (includes NY 8.25% tax)
    No security deposit (as I already have another lease through BMW)just tags and registration down
    39 month
    15K per year.

    Not a bad deal for a car at this price.....dealer made it happen by reducing the selling price to just above Invoice.
  • dookie83dookie83 Member Posts: 3
    With what you have spelled out what is the lease cost?

    I leased a 2006 with an MSRP of $42,300 and am paying zero down (exept for tags) and $480 a month for 39 months with 15K miles per year.

    Your deal sounds beeter than most but how does it compare to mine?
  • dookie83dookie83 Member Posts: 3
    What dealer are you working with?
  • freshwaterfreshwater Member Posts: 92
    MSRP=43865, premium, navigation, xenon, cold pkg,
    The dealer want down $4450 (all inclusive, tax, first month payment, deposit, TL).
    10k/yr, 39 month $439/month.

    Is this a good lease numbers.
  • pgeterspgeters Member Posts: 12
    Freshwater, in early April I did a deal for the exact same option list where I put $3K down all inclusive ($930 down, plus first, security, and other charges) for 10k/yr, 39 mo, and $430/mo. including tax. I also got $2250 off of MSRP and a 67% residual. You should push for something similar to these last two numbers also. Good luck...
  • nlproductionsnlproductions Member Posts: 25
    Carman:

    What is the current BMW lease program for the X3 on a 15/24? :confuse:

    I need the current residual and money factor (top tier credit, current BMW finance customer).

    Thanks Car_Man!!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome jencam. I'm glad that you find this site so informative. According to the latest information that I have seen, if you were to lease a 2006 BMW X3 through BMW Financial Services right now for 39 months with 10,000 miles per year, its buy rate lease money factor and residual value should be .00185 and 68%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello freshwater. You never mentioned the selling price of the X3 that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this lease if you let me know what the selling price is.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi nlproductions. According to the latest information that I have seen, if you were to lease a 2006 BMW X3 through BMW Financial Services right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00200 and 75%, respectively. The 39 month term is BMW FS' most attractive one for this model right now, but that might be a little long for you.

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  • gregdbuschgregdbusch Member Posts: 1
    I currently have 15 months remaining on an '04 X3 3.0 at $475/month. My wife and I just had a baby and we need a bigger car. We also are driving way more than the mileage on our lease will allow due to visiting her family in another state. I would like to upgrade to an X5, b/c it is bigger (even though yes, technically, the X3 has more cargo room). I would like to finance the X5 to avoid mileage restrictions. Can anyone help me know if a dealer might help me get out of my X3 lease and into an X5 finance? I've tried having someone assume the lease, but with no success, and I am in a bad situation right now. Please help! Thanks!
  • mschu3mschu3 Member Posts: 1
    Car Man:
    I just leased an X3 for my wife. Did I get a fair deal? Here are the terms:
    MSRP: $38,820
    Price Paid: $37,200
    Dealer invoice: $35,575
    Payment: $411.82
    Money factor: .00185
    Term: 39 month / 10000 miles per year
    Residual: 68%
    Bank fee: $625 (rolled into monthly payment)
    Out of pocket: $2,484.66 (sales tax=$1405.34 + reg and other fees=$217.50 + Sec deposit=$450.00 + 1st payment=$411.82)
  • jjjzzzjjjzzz Member Posts: 13
    Here is the best quote I have got so far:

    MSRP: $40,195(premium package, privacy glass, satellite radio, metallic color)
    Sales price: $37,665
    Dealer invoice: $36,825
    Payment: $455 (including tax at 8.25%)
    Money factor: .002
    Term: 36 month / 10000 miles per year
    Residual: 68%
    Bank fee: $625
    Out of pocket: $1,400(bank fee $625+ reg and other fees $311 + 1st payment)

    Does anyone know if this is a good deal? Thank you in advance! ;)
  • kyfdxkyfdx Moderator Posts: 235,188
    That looks liike a great deal..

    Base money factor and less than $1K over invoice...

    The only thing that I would change? I'd make a $450 security deposit.. That would lower your money factor to .00185, and lower your payment by around $10/mo... $360 saved, and you get the $450 back at the end of the lease...

    regards,
    kyfdx
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  • 07110711 Member Posts: 5
    Dear Car Man:

    I'm hoping you can answer these ?'s for us ASAP! We are hoping to close on our lease deal this week. Thanks!

    1. Can you tell us if we got a good deal -
    MSRP: $41,095
    Our offer (accepted): $39,607
    Money Factor .0013 (filed paperwork by April 30 for special)
    Bank Fee: $625
    Term: 39 months, 12K/year
    Residual: 67%
    Security Deposit $350

    2. Is the .20/mile excess mileage fee negotiable up front? Our dealer told us BMW does not negotiate on this, but said they typically offer .16/mile excess a few months before lease expires. Is it true that this is a BMW policy and non-negotiable?

    3. Should we be concerned about the verbiage on the lease re: excess wear and tear? It is BMW's standard lease contract, but states that we agree to pay BMW the cost of all repairs, including, but not limited to: dented, scratched, chipped, rusted, pitted body parts, paint, trim, grill work, etc. There is no further definition of size, etc. of scratches, dents, rust, etc. It seems very subjective - who is to say what type of a scratch/dent, etc. is due to normal wear and tear, and what is considered excessive. I don't want to treat the car like a museum piece just to avoid it getting a minor scratch. The lease does not define minor scratches or state that they're excluded. In my opinion, small scratches should be normal wear and tear. Dealer said they are reasonable at the end, but how can I be sure, when nothing is clearly defined in writing??!! BMW and dealer will not further define this in our contract. What is your advice on this??!!

    4. Also, there is nothing in that contract about distinguishing rust as a mfr defect vs. rust from a chip on the paint that was never repaired. BMW Financial said that mfr defect is discussed and covered under the BMW warranty; therefore, and that their contract is separate from this. Does this sound ok to you?

    Please help us answer these questions - we need your advice ASAP!! Thank you in advance for your help!
  • talyvantalyvan Member Posts: 17
    0711
    #1 sounds like a decent deal, you might get better discount off the MSRP, say to a total of $2000 or $2250.. push it a little bit., other than that the rest of the numbers look good.

    #2 If you feel that you'll need more miles, you can buy them at ANY time through the BMW Owner's circle website (actually i found this as a very cool feature).

    #3 Just keep the car clean and well maintained (sp?), of course after 3 years, the dealer won't expect the carpet mats to be shine and clean, the'll look wear, but if they are burned or falling appart of course it'll be considered as an excess.. you get the idea. Also on the BWM'w website you'll find a very comprehensive checklist to run your car through and you cna even drop it at the dealership few months before your lease end to a wear and tear checkup.

    #4 A chip is a Chip and a rust is a rust.. unless you live right next to a beach or oyu get hit by a lot of rocks and drive on a lot of snow, don't be worried about this, modern cars are very well protected against rust, and unless is a very bad tratment, I don;t think that in 3 years you'll see any damage, but that's just my opinion.

    Hope it helps

    The Talyvan
  • 07110711 Member Posts: 5
    Dear Car_Man,

    Re: my message on 5/29, I was wondering if you could add a bit to Talyvan's reply, which was also helpful.

    Re: Excess mileage fee: Is the .20/mile negotiable at the lease signing? Dealer said this fee is not negotiable, and cannot be written into the contract. I understand I might be able to get a lower rate later on (though not guaranteed), but want to know if this is actually something that can be negotiated prior to lease signing and written into the lease contract, or is the dealer correct that we cannot do this?

    Re: BMW contract wording on excess wear and tear: Should I be concerned that the actual lease contract does not clearly define how big a scratch or dent is that is considered excessive? The lease end inspection form does, but this form is not part of the actual contract. Any advice on this?

    Re: Rust - the contract does not distinguish between rust from a mfr defect (mfr responsibility) vs. rust from chipped paint owner doesn't repair (owner responsibility). Should I be concerned that contract doesn't distinguish between the two? Any advice on this?

    Also, is the wording about excess wear and tear pretty much the same on all car lease contracts, or is BMW's any different?

    I'm hoping to finalize the lease in the next couple of days, and would appreciate your advice before I sign it. Thanks in advance for your help!
  • zoshanzoshan Member Posts: 1
    Hi Car Man my first post I hope you'll add your comments,

    I got this X3.0 fully loaded sport package navigation leather every option except parktronic and high-end sound system. I don't know money factor but got the price reduced to $42500 from $45000, gave down $1650 for 12000 miles/ month for 39 month. Total monthly payment 467.85 including taxes and every thing, not sure if this is the best deal. :confuse:
  • 07110711 Member Posts: 5
    Dear Talyvan,

    Thanks for your response. I'm still hoping to get Car_Man's response on my 2nd email, but had a couple of questions on your #2 response about mileage.

    I assume the BMW's circle website rate must be higher than the initial .15/mile that you can buy before the lease is signed - is this true, and do you know what rate they charge on the website (we don't have access to owner's circle yet)? Also, do you know if this rate fluctuates over time or does it remain the same?

    Do you also know if the rate listed on the contract you sign up front of .20/mile for excess miles is negotiable prior to signing the lease? The dealer said we can't change this rate on the contract and is not negotiable up front.

    If anyone else out there knows the answer to any of this, I would really appreciate your response as well! We'd love to get the contract finalized this week. Thanks!
  • kyfdxkyfdx Moderator Posts: 235,188
    I'm not the expert on leasing that Car_man is, but I've recently leased a BMW, so I can answer some of your questions..

    1) The $0.20/mi. excess mileage charge is not negotiable.

    2) At some point, up until the last six months of your lease, you can purchase excess miles from BMWFS for $0.16/ea. These can be added to your lease payment and amortized over the remaining months of your lease. I'm sure it is possible for this number to change, but it has been this way for at least the last three years, if not longer..

    I think this is a much better deal than buying the miles upfront, as you will be able to come closer to the exact number of miles that you need, once you have some history with the vehicle.

    Hope this helps..
    kyfdx
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  • 07110711 Member Posts: 5
    Dear Kyfdx

    Thanks so much for your quick response. It was a great help!
  • talyvantalyvan Member Posts: 17
    Exactly as posted, aditional miles price are not negiotiable, I took the time to cut and paste this from the OC website, I though it'll be interesting to have around.

    "
    What does it mean to buy more Lease miles?
    More Miles = more driving fun. So, you think that you might go over the number of miles in your lease contract? BMW Financial Services allows you to buy additional miles today, for up to a 20% savings, and enjoy more driving fun now without paying more later.

    Why should I buy more miles
    Enjoy more miles of exhilarating driving behind the wheel of your BMW. Why worry about having to pay at the end of your lease for going over your allotted miles? Use the mileage calculator to estimate the number of additional miles you want to enjoy in your BMW and see how much you will save by purchasing them now.

    What are the benefits?
    Cost Savings - Save up to 20 percent on additional lease miles by purchasing them ahead of time

    Flexibility - Additional miles can be purchased in one lump sum payment, or the total cost may be spread out over the remaining monthly payments.

    It's Easy! Everything you need to complete this process is available right here on the Owners' Circle.

    Don't delay! This service is available to you until you reach 4 months from the end of your lease. So purchase your additional miles today!
    "

    Talyvan
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your new baby, gregdbusch. I certainly know what it is like to have to change vehicles because of a new arrival. That's why I don't drive coupes any more :cry: . It's worth it though :D . Anyhow, I am sure that lots of dealers would like to "help" you get out of your X3 lease and into a new X5. However, dealers do not have some magical way to get you out of your current lease for free. It is probably going to be fairly expensive to get out of your leased X3 over a year before the scheduled end of your lease. You will probably have to pay money out of your pocket to get out of this truck at this point or at least pay way more than you should on your X5 lease. By far, your least expensive option would be to continue to drive your X3 until you are closer to the scheduled end of your lease. If you only have one child it should be big enough to tough it out another couple of months. It's not like we're talking about a Z4 ;).

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your first new BMW, mschu3. It looks like you paid $1,600 over invoice for this truck. That is a reasonable price, but if you are in an area that has a decent level of competition I would not be surprised if you would have been able to get another couple hundred off. The money factor that was used to calculate your truck's monthly payment is right in line with BMW Financial Services' current buy rate for it. Plus this dealer did not try to mark your vehicle's acquisition fee up like a lot of BMW dealers do. Overall I would say that this is a reasonable deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings zoshan. The selling price that you were quoted for this truck looks reasonable. If you want to fid out how much over dealer invoice it is, you can look up your vehicle's invoice price in the following section off this site: Edmunds.com - New Vehicle Pricing. Let's use BMW's actual current lease program to estimate what its monthly payment should be. According to my calculations, if you were to lease a 2006 BMW X3 with an MSRP of $45,000 and a selling price of $42,500 through BMW FS right now for 39 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $452. Since the payment that you were quoted includes tax, it looks about right to me.

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  • lponz7lponz7 Member Posts: 25
    Looking at an X3 on a 39 month, 10K per year miles, lease. Are BMWFS's May numbers (.00185 and 68%) still in effect or are there new numbers? I'm not sure I've ever seen a residual value that high after thirty-nine months. lponz7
  • spindoc1spindoc1 Member Posts: 6
    After reading the numbers in this forum, i'm feeling that i'm paying way to much for my lease on a 2006 X3. The car i'm going to lease (I say going to because I haven't received delivery of the car yet, it's currently on a ship on the atlantic) is fully loaded: cold weather package, premium package, servotronic steering, xenon, navigation, premium sound, park distance control, rear airbags, performance 18" tires, privacy glass and auxillary input. Total price is $47 620. Dealer told me they will knock the price down to about $46000. With that I signed a lease with zero down, 12k miles/year, 39 months for $599/month including taxes. First month I owe first month lease and security deposit. By looking at the numbers in this forum i'm thinking that I didn't really get a good deal. Can anyone let me know how these numbers sound and if i'm still bound to te lease even though the car won't be here for another 3-4 weeks? Thanks
  • lponz7lponz7 Member Posts: 25
    I think the payment is too high. First, it seems folks are getting a discount of about $2,000 to 2,500 on the X3 now, depending on competition in the area. With all those options, which often have higher mark-ups, a $1,620 reduction to determine base rate cap cost seems a little stingy. As for the lease terms, even using your numbers, and a sales tax rate of 7% (you didn't indicate what taxes are in your area), I come out with a payment of $540.92 based on the June money factor and residual value that I understand are being offered by BMW's captive finance subsidiary--.00185 and 67% on a 12K miles per year lease. This leads me to believe that the dealer also marked-up the money factor to hide additional profit--not uncommon among BMW dealers. Of course, with a lower cap cost, the monthly payment would be even lower--there a lots of free on-line lease calculators available to run these numbers under different scenarios. In terms of whether you are bound to the deal, that is a function of the nature of the contractual commitment you made when you ordered the vehicle and how accommodating your dealer is willing to be. Good luck. lponz7
  • spindoc1spindoc1 Member Posts: 6
    Thanks for the advice and info Iponz7. I really appreciate it. Will keep this forum posted on what sort of a deal I can strike. Wish I had been here sooner. :mad:
  • cmcewen2cmcewen2 Member Posts: 3
    Hi. I just finalized a lease deal with my local Massachusetts BMW dealer - for an X3, heated seats, heated steering wheel, metallic paint, leatherette seats, privacy glass, rubber floor mats. It's not a loaded vehicle - but after some negotiation...here's the final deal I received:

    Term: 39 mths, 10k miles
    Monthly payment: $398.86 (incl MA 5% tax)
    Selling price: $36675 - Edmunds says the MSRP is $38970, and invoice is $35705)
    Residual: 68% based on MSRP
    Money factor: .00185
    Down Payment: $0
    Sec Deposit: $400
    Bank Fee: $761
    Title/registration: $285.25

    My drive off costs come to $1845.11 and I'll have monthly payments of $398.86 - All appears good, what dya think? Did I get a good deal?

    Also, I drive anywhere from 11-13k miles a year - I'm counting on BMW's mid term mileage adjustment to allow me to up my mileage, paying $0.16/mile vs $0.15/mile upfront based on a guesstimate of my future miles.

    I also read on this forum about Owner's circle pricing ($0.16/mi that can be purchased UP TO 4 mths before the end of the lease period - that's great - in fact, when I mentioned this, my dealer knew nothing about this.

    Thanks in advance!
  • stevenycstevenyc Member Posts: 8
    It sounds pretty good to me. You got it for less than a thousand above invoice. About the miles, I beieve the owner's circle says you can buy extra miles as long as you have at least 9 months left on your lease. You can access the owner's circle immediately by setting up an account using your production number.

    I just signed a lease in NYC for an X3 with the Premium package and Nav.
    Term: 30mths, 12K miles
    Monthly payment: 311
    Selling Price: $39.5K (MSRP=41,095; INV=37,645)
    Residual: 71%
    Money Factor: .002
    Down Payment of about 4800
    Sec Dep 350
    Bank Charge: 650
    Upfront (including 1st month, sales tax (8.375), downpayment, title, registration and bank fee): 7500.

    After reading other posts I feel like the money factor is too high and maybe could've gotten a better price, but even so I like the dealership and my rep there is great.
  • pgeterspgeters Member Posts: 12
    Well stevenyc, if it is a done deal, then all you have to do now is enjoy your X3. Once you start driving it, any issues you may have had buying it will long be forgotten. Welcome to the club!
  • mappermanmapperman Member Posts: 3
    I am looking to lease an X3 BMW. I have no experience with making "deals" as far as leasing goes. Could you please explain to me what I can do and what I should know going into this experience. I do not want to get ripped off.
    I am looking at X3's range 41-45K.
    I live in Bend, Oregon. there is only one BMW dealer here in town. should I drive over to the valley...Salem/Portland to get a better deal?
    I have Volvo V50 2005 at this time. can I make any deals with a trade-in? the Volvo is bluebooked at around 25K+.
    what is the best way to approach this?
    please help. I don't want to be ignorant going into this lease.
    Thanks,
  • pgeterspgeters Member Posts: 12
    mapperman, if you are really serious, I would recommend reading a good book on automobile leasing to really understand what to look for. I also recommend reading through this entire thread. When I leased my X3 I found a deal that someone had posted here, took it in to the dealership, and asked them to match it. The numbers posted here will give you a good idea of what to shoot for. But, if you don't understand how a lease works the dealership can still slip some part of the deal by you that may look OK at first, but really is just extra money in their pocket.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lponz7. If you were to lease a 2006 BMW X3 through BMW Financial Services right now for 36 months with 10,000 miles per year, its buy rate lease money factor and residual value should be .00185 and 68%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi spindoc1. The dealer that you are working with can't force you to take the X3 that you ordered if you haven't physically taken delivery of it. However, if you gave them some sort of deposit they certainly can make it difficult to get back. If you decide that you don't want to do this deal and they refuse to give you your money back, if you paid your deposit with a credit card you can at least dispute the charge.

    As far as this truck's price goes, a 2006 BMW X3 with similar equipment to the one that you described has a spread of around $4,000 between its full MSRP and dealer invoice prices. You are only being given a discount of $1,620 on this tuck. If I was in the market for one, I personally would want at least a $3,000 discount. You may be able to get an idea of how much others have paid for similar trucks by stopping by the following discussion: "BMW X3: Prices Paid & Buying Experience".

    Car_man
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