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BMW X3 Lease Questions
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It seems that a small change in the MF can result in a big change in the monthly payment amount. So that seems just as important as the selling price, and yet everybody seems very focused on the selling price (for example, trying to get $1,000 over invoice). Am I missing something? I'm relatively new to this. Thanks.
I realize that everywhere I look they say not to put any money down on a lease but does that include paying for your taxes up front? Most of the cars that we're looking at on these boards are upwards of $30K factor in a NY tax of 8.75% and you're adding an extra 3,000 into the purchase calculations. Do you recommend rolling the taxes into the monthly payment then over the course of 24 months or however long the lease may be?
Trying to educate myself on this whole leasing thing but at the same time want to get a reasonable monthly payment.
Thanks for any help.
DB
Can you please tell me the residual and money factor for an 07 X3? I'm looking for a 24 or 36 month with 18000 miles.
Thanks a lot!
Any idea for the MF and % of residual of 36 terms on 2008 X3? Can I still get the MF=0.00165 and 69% for the 2008?
Thanks a lot
I have decided to buy it at the end of my lease (coming up end of Nov 2007). It has 23,000 miles and is in perfect shape.
Can anyone give me advice on how to prepare well to buy this car - what I can do to get the best deal and avoid any over payments?
I have never bought a car after leasing it so am unsure on how it goes and how much negotiating room I have.
Any assistance is appreciated.
Have 04 X3 Lease ending Nov, BMW FS does not want to 'extend' lease, but no dealers in area (meaning 300 miles away) have 07 or 08 units and/or everything is highly marked up. Have tried Internet but nothing seems to be close to my current lease price ($385). I drive < 10K/yr - Premium Pkg/Spt Pkg (not necessary or desired in next veh) but would like leather/lumbar. Trying to keep payments reasonable, but have not had any decent offers. As returning Lesee, I would think that BMW would try to retain a customer, but it seems just the opposite! Suggestions from you or anyone welcomed!
Archivist - Colorado :sick:
Car_man
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Car_man
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As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". If your vehicle's purchase price is reasonable, go for it. If not, there's no point in overpaying for your truck and you probably should just walk away from it at lease-end.
Car_man
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Car_man
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Thanks for the response, I have tried to negotiate directly and face to face with several dealers w/o much luck. Obviously, my timing is limited at this point, but I've gone out of the way to try and make a deal. What is most irritating is the lack of correspondence from BMW FS and/or the dealer(s) when looking at my lease end. I understand the BMW FS was offering a $ 404 lease in August for 07's but no one even approached or contacted me. It would seem that BMW is more interested in 'new' clients than current or existing ones as no offers even remotely approaching my lease have been forthcoming. Additionally, they seem to insist on massive amounts of cap reduction in order to even quote a decent lease. I'm now trying the Internet Brokers to see if anyone else is 'hungry'!
From the other responses, it would seem that the money factor for returning lessees should be 0.00225-0.00065 for 24 month w/75% resid for 07 and slightly more for 08 vehicles is that correct? What are you seeing for Cap Cost Reduction/Lease Fee Closing Costs for returning Lessees?
Thanks - Dave :sick:
Thanks, What about % of residual for 10k and 12k? IN addition, do you expect the rate is going to drop in Dec?
Thanks a lot
Looking for lease 2008 X3 3.0 for 36 month, 15k miles per year with $0 down. What should be my monthly payment/fees?
Options:205 STEPTRONIC 6-Speed Automatic Transmission, 522 Xenon Adaptive Headlights, -- Metallic Paint, ZPP Premium Package.
Price quoted:$40,850 + tax.
We are current BMW leassee. Old lease up this week.
We are in New York City.
Thanks
10K mile lease. Residual 78% (24 mo), 68% (36 mo)...Money factor: .00275 (minus .00065 for returning customer). Payments worked out to be a few dollars cheaper for the 24 mo lease! Is that unusual?
Since we were debating getting a bigger car, we opted for the 24 mo.
Total due at signing $2280 (taxes, 1st mo, $625 Acq. fee)...payments: $470 mo. 36 mo. was $476/mo. with more taxes due at signing.
Thanks Edmunds...I can't imagine buying a car without this site.
MSRP: $43,750 Equiped: premium, cold weather,Adapt, xenon lights, metallic paint.
Offered at -$1100 off MSRP $42,650. Money rate.00275. Resid 67% on 12k mileage.
$2401.53 down. As close as I can figure, DP as follows: Sec.$650, prep? 160, tags 299, bank fee approx.687 including first payment of $568 + CT sales tax 37.
This deal seems high from what I see in this forum. Any comments would be appreciated.
.
Annual Mileage: 10,000
Residual: 78%
Customer Cash Down 3,944.74
Cash Cap Reduction 2,507.22
Adjusted Cap Cost: 36,214.58
Total Sales Tax: 966.93
Total Adds to Cap: 825.00
Money Factor: 0.00265
Security Deposit: 450.00
Total initial fees: 45.00
Total Annual Fees: 303.75
Base Monthly Rental: 399.00
Total onthly Payment: 431.92
Monthly Use Tax: 8.2500% $32.92
Lease End Value: 30,907.50
i am considering leasing a 2008 bmw x3 - automatic with leather - not sure about other options. i am due to turn in my audi a4 by mid december. i am also considering another a4, and a mercedes c300.
- i live in NJ
- looking to lease for anywhere from 36-42 months
- 12,000 miles per year
- what would be december residuals on this car and money factor?
- what fees should i expect to pay upfront on this car and are any of them negotiable?
- what should i strive for over invoice on this car?
- also, any incentives i should be aware of for december?
thanks!
I held off hoping December lease support might improve... can you lend a hand with residual & mf for 36 & 24 months at 15k miles/year?
Thanks,
Ken
24 Month Lease
15,000 miles per year
MSRP $43525.00
SALE PRICE $41425.00
LEASE END VALUE $32643.75 (75%)
MO PAYMENT $620.54 INCLUDING TAX
DUE AT SIGNING $1756.70 (650 SEC. DEPOSIT INCLUDED)
MONEY FACTOR .00270
--------------------------------------------------------------------------------- -----------------
36MO
15000 PER YEAR
MSRP $43525.00
SALE PRICE $41425.00
LEASE END VALUE $28291.25 (65%)
MO PAYMENT $595.55 INCLUDING TAX
DUE AT SIGNING $1731.71 (650 SEC. DEPOSIT INCLUDED)
MONEY FACTOR .00270
The selling price for the car is $41425, which is $1365 over invoice, but the dealer has to pay MAKO and Training Fees that aren't on the invoice, which brings my cost to $985 over 'invoice'...
This seems to be a great deal for this car. The only rub is that I have an even more aggressive deal from Acura on their RDX base that's basically at invoice and monthly payments for 36 months ~$453/mo with no cap cost reduction....
I'm stuck - $595/mo for the X3 or $453/mo for the RDX.... simple economics will probably win out, but I prefer the X3 (narrowly).
hope this helps someone.
Ken
My name is Maritza and my lease is up 1-28-08 (BMW x5).
I don't think I did a good job with leasing my BMW and would like your help in this new lease offer. Please let me know what you think. Thank you.
1. 2008 328xi
2. white with black interior
3. automatic
4. NO EXTRA PACAGE
5. 3 year lease
5. 15000 miles a yr.
6. MSRP $36,350 (invoice $33,540) includes the destination charge
7. Due at signing; saleman states around $2,475.69 to $2,793.00
1. 1st month 459.46
2. security deposit $ 0
3. title fee $ 0
4. registration fee $57.75
5. license fee $0
6. Bank fee $ 625
7. Sales tax (7.37%) $1,265.98
8. No cap reduction fee $ 0
9. Documentation fee $45.
10. Tire Recycle fee $12.50
11. Inspection fee $10.
Please let me know what you think. Are there any other fees that he might come up with when I do go in for signing? He stated that the bank fee was a fee which the bank charges for doing the paper work. Is this true? Is there anyway thing I can do to negotiate this contract and make my monthly fee less because I have a couple of thousand dollar I have to pay for over mileage when I return my x5?
At lease signing, you will have to pay your first month's payment, a security deposit equivalent to that payment rounded up to the nearest $50 increment, BMW FS' $625 acquisition fee, and any required state taxes or fees. BMW FS will waive its security deposit requirement in exchange for a .00015 increase in your vehicle's money factor. You should be able to add most of the other fees to your X3's capitalized cost to make them part of your monthly payment if you want to.
BMW is not currently providing any cash incentives on this model.
Car_man
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Car_man
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This particular discussion is for community members to talk about leasing the BMW X3. Please post the information that I requested over in the BMW 3-Series discussion. Thanks.
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$1,000 over dealer invoice is not a bad deal, but it's not that special either. Any consumer who is an area that has a decent level of competition would probably be able to negotiate a selling price of $1,000 over on their own. It wouldn't hurt to stop by the "BMW X3 Prices Paid and Buying Experience" discussion to see how much other community members have paid for their X3s lately.
Car_man
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My Current Car
2005 325i w/ no options except metallic paint and Auto Trans.
current Mileage :28100
Residual: $18730
Lease Deal offered
2008 328i with PREM PKG, iPOD Adapter
MSRP: $38100
36 month lease / 10000 miles per year
Total Drive off : $1000
Monthly Payment :$449+tax ($459+tax if 12000 miles per year)
Residual $24383
Help me decide!!!
Thank you in advance...
And if I keep my current car, is certifying it worth it?? (dealer said it costs $3000, but it will extend the warranty to 6yr/100Kmile and BMWFS will lower my finance rate to 3.9%)
MSRP of $45,950 (Premium & Cold Package; Metallic Paint; Servotronic; Heated Steering Wheel; NAV System; Xenon Lights)
Cap Cost of $44,503
Residual of 78% (24mths 10k lease)
Money Factor of 0.00205
Monthly lease payment = ~$526
No cap cost reduction; taxes and all applicable fees upfront (~2700 including first payment)
My calc tells me they are making ~$2k over invoice which seems a lot (according to posts I've read) Realistically, how low can I go? A couple of other dealers within 20 miles but their also seems to be plenty of BMW X3's on the road (in and around NYC area) presumably meaning the demand is pretty good.
Thks
If you need more help, please email me or reply.
I had a BMW come off lease about 2 years ago....can I get the returning customer discount on the finance rate?
Anyone know the February residuals and finance factors for the X3...24 month and 36 month?
Car_man
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Car_man
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Unfortunately, I believe that two years is too long ago to qualify for any sort of owner loyalty bonus.
BMW FS current buy rate lease money factor and residual value for a 24 month lease of a 2008 X3 with 15,000 miles per year are .00255 and 74%, respectively. The numbers for an otherwise identical 36 month lease are .00255 and 64%.
Car_man
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My current X5 lease (thanks to you I got a good deal 3 years ago!) ends on February 25th and I'm thinking about leasing an X3 (or Infiniti EX35). How much is a loyalty bonus? How much should I expect to pay for a MSRP $41350? What is a dream lease for 36 months, 12,000 mi/yr in St. Louis, MO area?
Also, between X3 and EX35, which one do you recommend? On which am I likely to get a better deal on similarly equipped cars?
Thanks!
Plus, even if they did, they charge the new lessee a $450 transfer fee.. That's a lot extra for just two months..
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I hope I don't come off as some careless driver but it's hard when you live and drive in NYC to avoid every obstacle. How particular are they about such things?
BMW seems to be really pretty anal about the fact that the cars being returned at lease end pretty much look showroom new on the outside. They send a 3rd party inspector out to look at your car. I wouldn't worry about the interior scratches. My Dad turned in his '04 X5 over the summer and had 2 Great Danes in the car for the duration of its lease. We just had it cleaned up before they came to inspect. There were a couple of exterior issues that the inspector wrote up that we didn't agree with. The rear bumper got the NYC Bumper corner treatment and they banged us for $400 to repaint the bumper...OK, fine. There was a ding in the driver's door from a rock (The car had close to 80,000 miles) that you couldn't even see unless you looked at the car at a certain angle, the inspector put an arrow magnet there...BMW wanted to charge us $600 to repaint the door. There was a scratch in the clearcoat near the rear passenger side window (from the dogs trying to jump into the car when the door was closed and BMW wanted to charge $600 to repaint that door. Needless to say it was very easy to negotiate with them because we had a new BMW X5 on order. If not, I don't know.
It sounds like they'll bang you for the one wheel. If you want to replace it, check out circlebmw's parts department or bavarian autosport. They should have replacement OEM wheels much cheaper than other dealers.
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD
Strangely enough... The wheel pretty much has to be unserviceable to take a hit on turn-in..
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Let's work up a sample lease payment on the truck that you're interested in. Using the above lease program, and MSRP of $41,350, and a selling price of $38,850 (a $2,500 discount, which is a good deal), I estimate that this truck's zero down, pre-tax monthly payment should be around $490.
I like the X3, but I have not had an opportunity to actually drive the EX35 yet, so I can't really give you an informed opinion on which one is better. In general, I usually prefer BMWs to Infinitis though.
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Thank You
I'm coming to an end of my 2005 X3 lease term in July and the dealer gave me an option to buy the car for $25,600 but I checked on Edmund for the TMV value of my car I found the following:
Trade in: $20,766
Dealer: $23377
but is this price for a Certified car (included the extended BMW mantainance up to 100,000K) or is it not?
I'm thinking to negotiate the price from $25,600 to $21,000. Do you think it's reasonable? I figure that I'll need to pay $1800 for the extended mantainance and $1000 to replace the tires (some issues with the tires ever since I took the car out for the lease).
Thanks so much for your advices! This is my first lease so I'm still a bit unfamiliar with how leasing work but I learned a great deals from Edmund's leasing section and the forums.
Thanks all!
Vu
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Leased an X3 with CT Tax included in November on a $44,250.00 MSRP for $418/mo with $1806 out the door. 10K miles yr/ 24mo lease.
Now getting a similarly spec'd out X3, even from a Jersey dealer seems to be running in the $490. range with similar out the door costs.
What has changed? Are the residuals now more realistic? Anybody have any experience with BMW Finance extending the 24month leases an additional year at lease end?
My guess? State DMV records are public. They look for vehicles owned by BMW FS, and then send a letter to the person/address under who the vehicle is registered.
I'm positive they didn't get the info from BMW.
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Also, the money factor seems unusually high (7.18%). I am a first time BMW customer. However, I have great credit. Any advise? Before I start negotiating price and such, I really need to understand how to calculate the lease payments. Are they hiding fees or trying to over charge me for the vehicle? :confuse:
Offer
Lease for 3 years and 10,000 miles per year
2008 BMW X3, $1,195 total cash including drive-off, $641 per month plus tax.*
MSRP is $47,600 - our prefered Internet price $44,989 plus tax and fees*
Silver Gray Metallic Exterior
Gray Nevada Leather
Sport package
Premium Package
Steptronic Automatic Transmission
Heated front Seats
Xenon Headlights
Navigation System
Privacy Glass
Dark Ash Wood Trim
Panoramic Moonroof
*Offer on approved credit, valid through Internet Sales Only until 5/31/2008.
The money factor used is .00299. The residual value is 65% or $30,940.
I live in LA, California. The sales tax is 8.25%
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD