BMW X3 Lease Questions

mvislegirl · September 2005

No, kyfdx, YOU ROCK!!!

And, by the way, I DID need you, or else I never would have had the confidence to make this deal (I was shaking the entire time I was on the phone!!) I can't believe it worked out this well. If the Edmunds.com powers that be are watching these forums...you are doing a great service to us novice's out here on our own. Thank you, thank you, and thank you again! We're not worthy!!!!!!

mmg3 · September 2005

O.K. Here's the dilema - our current lease on our Volkswagen is up in March (have suffered through 3 miserable winters with this car and not looking forward to a fourth) we are looking to lease an X3 - the 349/month deal which only goes until the end of the month - is it a legitimate deal and should we take advantage now or do you think that we will be able to get a good deal in a few months when we have a bit more money saved to put down and are closer to the end of our current lease? Any thoughts?

kyfdx · September 2005

Six months to go?

Just wait it out... If the X3 leases aren't great at that time, there will be something else to catch your fancy..

IMO, February and March are typically great months to lease vehicles... Incentives seem to be good, and residuals are still high...

regards,
kyfdx
Host-Prices Paid Forums

drtravel · October 2005

For 10K and 12K per year - 36 months.

Thank you

lizab · October 2005

What is the current advertised lease program for the 2006 X3? I have not seen any? Is it better at this time of year to lease an '05 or '06?

Thanks

CarMan@Edmunds · October 2005

You're in luck, drtravel. BMW just introduced a special lease program on the 2006 X3 for the month of October. If you were to lease a 2006 BMW X3 3.0 through BMW Financial Services right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00175 and 62%, respectively. Its 10,000 miles per year residual value would be 1% higher, but the money factor would be the same.

Car_man
Host
Smart Shopper / Prices Paid Forums

CarMan@Edmunds · October 2005

HI lizab. BMW is currently advertising the 2006 X3 at $429 per month for 36 months with a $2,500 down payment and 10,000 miles per year. Like many manufacturers' advertised lease payments though I suspect that you can do better than this if you negotiate an attractive selling price. BMW's lease program on the 2005 X3 is actually a little more attractive than its program is on the 2006 model right now. The residual values the same but its money factor is lower on the '05 model plus you should be able to negotiate a lower selling price on a leftover '05 X3 than you would be able to on a new '06 model.

Car_man
Host
Smart Shopper / Prices Paid Forums

lizab · October 2005

Thanks for your help. I went to my local dealer last night and had just a horrible experience, so will be starting over elsewhere!

ladi · October 2005

I am looking to negotiate a deal on a new '06 X3. I am getting the Prem,Nav,Cold Package and Privacy. The dealer gave me a start of a neg. $40,776. I am asking for $39500. I think that is fair. Also with one time payment...he gave me a neg 18944 for 15k/2 yrs. I think that is super high so I am asking for $16500 on one time pay. That works out to 540/mo +plus tax and fees. Is this a fair deal for the both of us?

CarMan@Edmunds · October 2005

You're welcome lizab. Sorry to hear about your bad experience. You were smart not to walk away from a dealer that you do not feel comfortable with.

Car_man
Host
Smart Shopper / Prices Paid Forums

CarMan@Edmunds · October 2005

Hi ladi. I would be happy to calculate what this truck's lease payment should be like using BMW Financial Services' actual lease program for you. However in order for me to do so I need you to provide me with its full MSRP (with the destination charge added in). Not only will knowing this truck's MSRP enable me to calculate a lease payment for you, it will also show me how much of a discount you are being given on it.

Car_man
Host
Smart Shopper / Prices Paid Forums

sailorstac · October 2005

Carman/Kyfdx--
I'm looking at leasing a 2005 X3 3.0 in Southern CA. I found a dealer that has 5 identical X3s with an MSRP of $39,965 (incl. the $695 destination). I'm hoping to negotiate a price of $500 over invoice of $36,350, for a cap cost of $36,850. (Is the acquisition cost then added to the cap cost?) I need a 36 or 39 month lease (whichever deal is better) with 12k miles per year. Can you please provide the MF and residual, and calculate the lease payments, please? The tax rate here is 7.75%. Could you also calculate the lease payments at a cap cost of $37,350? Thank you so much!

richneedsaleas · October 2005

Below was an opening offering in CT--any one have any comment?

The MSRP of the vehicle w/Nav is $43,405 and that it is a 2006 BMW X3 3.0, 36 month lease, 12k miles per year, CT tax included.

I am offering a $2,000 discount with tax included at $553.49 per month and $1790.99 due at signing (1st payment, bank fee, security deposit).

Please double check because $406 per month with $1300 due at signing is impossible.

bdr127 · October 2005

Where did the $406/mo come from?

richneedsaleas · October 2005

A dealer in the midwest ran an ad two weeks ago saying would deliver anywhere in the States. total upfront $2500, monthly $349 loaded but without Nav, i just extropolated from there. Anyone else seen that? What's realistic these days?

Seem Touregs are being given much much better support, not that BMW ever gives much.

richneedsaleas · October 2005

Midwest newspaper advert. $349mo, total of 2500 upfront w/o nav.
I extrapolated from there, Thx Rich

bdr127 · October 2005

What do they mean by "loaded"?..... That's a rather vague term. To many people, any BMW would be consider "loaded", as it has power windows/doors/windows/seats, sunroof, etc. The base price for an 06 X3 is $37,475. Are they calculating $349/mo off of that?

Need more details....

pictures · October 2005

I was offered a "great" lease for a 2005 X3 (2.5 engine). MSPR at $34445 reduced down to 32000. MF is .0014 and a 61% residual for 3yr/12k. There is a $825 "Acquisition Fee." I'm putting $2500 down. After all that, the monthly price would be $357 including tax.

Is this a great deal? I really don't want to pull the trigger unless I am sure I cannot get a better price elsewhere. Thanks!

CarMan@Edmunds · October 2005

Hi sailorstac. $500 over invoice is a good deal on this car. As far as the acquisition fee goes, you can either pay it at lease signing or have it added to your truck's capitalized cost and baked into your monthly payment. BMW Financial Services is not currently offering 39 month leases on this model, so you will have to go with a 36 month term. If you were to lease a 2006 BMW X3 3.0 though BMW Financial Services right now for 36 months 12,000 miles per year, its buy rate lease money factor and residual value should be .00175 and 62%, respectively. Using these numbers, an MSRP of $39,965, and a selling price of $36,850, I estimate that this car should have a zero down, pre-tax monthly payment of around $444. With a cap cost of $37,350, the payment would increase to around $458.

Car_man
Host
Smart Shopper / Prices Paid Forums

CarMan@Edmunds · October 2005

Hello richneedsaleas. A $2,000 discount on this truck is probably around $1,500 to $1,600 over dealer invoice, which is not bad but in an area like Connecticut (unless you live in a rural part of the state), you probably have a number of BMW dealers and I would not be surprised if you were able to beat this price by a little. You may want to stop by the following discussion to see how much other community members have paid for similar trucks recently: sharkala, "BMW X3: Prices Paid & Buying Experience" #, 12 Mar 2004 8:58 am.

For now, I will calculate a lease payment on this truck for you using the prices that you were quoted and BMW's actual lease program. According to my calculations, if you were to lease a 2006 BMW X3 3.0 with an MSRP of $43,405 and a selling price of $41,405 through BMW Financial Services for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $523.

Car_man
Host
Smart Shopper / Prices Paid Forums

CarMan@Edmunds · October 2005

I am sorry to say, pictures, that the "great lease" that you were offered really is not as great as it initially seems. It appears as though the dealer that you are working with is marking-up both this truck's lease money factor and acquisition fee to add additional hidden back-end profit to your deal. BMW Financial Services' current buy rate lease money factor for a 3 year lease of an '05 X3 2.5 is currently .00100 and its base lease acquisition fee is currently only $625. Insist that the dealer that you are working with use both of these numbers in your deal. The selling price that you were quoted is good though.

Car_man
Host
Smart Shopper / Prices Paid Forums

drtravel · November 2005

Money factor is 0.00175 for 3-year lease with security deposit

Residuals
10K = 63%
12K = 62%
15K = 60%

Happy renting

go_germany · November 2005

I just leased an 06 X3 and here are the details:

MSRP: 38820
Cap Cost: 36550
Acq fee: 750
Term: 36 month
Base Pmt: 515.60
Pmt W/tax: 551.69

Did I get a good deal or not?

mrviti · November 2005

I need an opinion. I can buy 06 x3, msrp 40370, for 37970. I can lease for 36mos., 36,000 miles, $2990 down plus $500 security deposit, for $454, which includes tax. Good deal? Opinion on lease or buy. Thanks/.

CarMan@Edmunds · November 2005

Hi go_germany. It appears to me as though the deal that you got is a little less than $1,000 above invoice. This is a reasonable price for this truck right now. The acquisition fee that you were charged is a little high though. BMW Financial Services' charges a base lease acquisition fee of only $625 on vehicles. The dealer that you are working with may have marked this fee up a little bit to add additional hidden profit to your deal. The lease payment that you were given looks a little high to me as well. I just worked up a sample lease payment on this truck using the prices that you mentioned in your post and BMW FS' actual lease program and I came up with a 36 month, 15,000 mile per year, zero down, pre-tax monthly payment of around $473. The dealer that you got your truck from may have marked-up your money factor.

Car_man
Host
Smart Shopper / Prices Paid Forums

CarMan@Edmunds · November 2005

Hi mrviti. The selling price that you were quoted for this truck looks reasonable to me. It appears to be less than $1,000 above invoice, perhaps like $800 or so. I just estimated what this truck's lease program should be using BMW Financial Services' actual lease program and I came up with a 36 month, 12,000 miles per year, zero down, pre-tax monthly payment of around $470 using the prices that you mentioned in your post. I based the payment that I worked up on zero down because I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your X3 would be exactly the same, regardless of whether you had put $3,000 down, or had made absolutely no down payment at all. Since you mentioned it, I also worked up a payment for an otherwise identical lease with a $2,990 down payment and came up with a monthly payment of around $382.

Car_man
Host
Smart Shopper / Prices Paid Forums

virgosista · November 2005

I would like to lease a 2005 or 06 3.0 X3. But I really do not know alot about negotiating a lease. In order for the lease to work for me the monthly payment should be around 400 and mileage must be 15k. Please help me with the negotiation of my future dream car.

MSRP
Net Cost
Net Cap Cost
Acq Fee
Money Factor fro Dec
Security deposit
Residual for Dec

tgameck80 · December 2005

I've been quoted 2 different options on a X3 that lists for 43,520. they are offering $1,000 discount. Upfront costs are about $1,163, 15K miles, 36 months $644 and 24 months $696.(both include tax) is this a good deal?

CarMan@Edmunds · December 2005

Greetings virgosista. 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.

Once you have checked out these articles, stop back and let me know the full MSRP and an approximate selling price for the truck that you are interested in and I can estimate what its lease payment should be like.

Car_man
Host
Smart Shopper / Prices Paid Forums

CarMan@Edmunds · December 2005

Hi tgameck80. A $1,000 discount doesn't sound like enough to me, especially in today's ultra competitive luxury SUV market. A base 2006 BMW X3 has a spread of $3,130 between its full MSRP and dealer invoice prices. If you are in an area where there is a decent level of competition for your business I would not be surprised if you were to negotiate a price that's $500 to $1,000 lower. You may want to stop by the following discussion to see how much other community members have paid for similar trucks recently: "BMW X3: Prices Paid & Buying Experience".

Car_man
Host
Smart Shopper / Prices Paid Forums

basement · December 2005

I was feeling lucky: On a 24-month, 12,000-mile-per-year lease, I got a quote of $500 over invoice on a 2006 X3 (MSRP $38,470, invoice price $35,250, quoted purchase price $35,750).

I said I'd pay up front for taxes, which would be $1,788 in Maryland (5% of the purchase price, even on a lease) plus fees, which they said would be $1,674 ($299 for tags and title service, $825 acquisition fee, which they called "standard," and $550 security deposit). This would make my initial payment $3,462, leaving a cap cost of $35,750, the same as the quoted purchase price.

I then got their monthly payment quote: $503. For residual value, they said they were using BMW's "standard" 73% of the MSRP, which would be $28,083, and .0023 for money factor (5.5% interest), even though I mentioned that another dealer used .00205 (4.9%).

Well, using these numbers, I came up with a $37 per month discrepancy--in their favor, of course. The monthly payment should be $466. So, unless I'm missing something (am I?) they're using a higher cap cost, lower residual percentage, or higher money factor. My money's on the latter, as $503 would be the payment on a .002875 money factor (6.9%).

I want to call them on it and enjoy the great price they "offered," but wanted to know what the proper money factor should be. Should it be .00175? And what about the acquisition fee? Is it inflated? What do you recommend I do?

kyfdx · December 2005

This doesn't look right... But, I have some ideas..

I added up your $3462, but I don't see a provision for the first lease payment.. Something tells me that there is no security deposit, but there is a first payment, and possibly sales tax on the acquisition fee?

Using these numbers, I too, get a payment of $466..

The only way to get to .0023 for the money factor, is to mark up the base rate the maximum (.00175 + .0004), and then add the .00015 for the security deposit waiver..

Did they break down all of the upfront numbers as you've shown? Or did you extrapolate this from their offer? Also, are they saying that the Cap cost is the same as the purchase price, or are you just assuming that it should be?

As you've already discovered, something doesn't add up..

It should look like this:

$38,470 MSRP
$35,750 Selling price
$35,750 Cap Cost
2yr/24K lease
Residual 73%
Money factor .00175
Payment $432/mo.
Due at signing: Tax, 1st payment, $450 security deposit, $625 (base) acquisition fee, $299 tags
About $3600 total..

If you roll the tax and the acquisition fee into the cap cost..
$38,163 Cap cost
Payment $536/mo.
Due at signing: 1st payment, security deposit, $299 tags.
About $1385 total.

They did give you a great price.. maybe too great.. I doubt they would make this deal on an '06 model, without marking up the money factors and fees...

regards,
kyfdx
Host-Prices Paid Forums

jrynn · December 2005

KYFDX,

basement wrote that the deal IS on a 2006. What in the numbers prompts you to think that the deal s/he is describing is on a 2005?

(Not that I necessarily disagree with your thought that a $2750 discount on a 2006 sounds high. Unless "lease" pricing is better than "purchase" pricing, in the MD/VA/DC area, several dealers I've spoken too about an X3 buy are quoting discounts in the $1900-$2100 range.)

kyfdx · December 2005

I didn't say that I thought it was an '05... I just mentioned that with that big of a discount on an '06 model, they are likely going to make up the money somewhere else..

In other words, the big discount is most likely dependent on the marked up money factor..

regards,
kyfdx
Host-Prices Paid Forums

dr_of_rx · December 2005

check out these 3 senarios..

SCENARIO #1 (w/security deposit)
36 months
12000 miles allowed annually
$41,895.00 MSRP
$40,500.00 Selling Price
$25,974.90 Residual
.00175 Money Factor
$550.66 Monthly Payment
$600.00 Security Deposit
$128.50 Tag Fees
$2,500.00 Total Due

SCENARIO #2 (w/o security deposit)
36 months
12000 miles allowed annually
$41,895.00 MSRP
$40,500.00 Selling Price
$25,974.90 Residual
.00190 Money Factor
$543.42 Monthly Payment
$0.00 Security
$128.50 Tag Fees
Total Due $2,500.00

both on a 06 x3 automatic transmission
metallic paint
premium package
cold weather package
heated steering wheel
xenon headlights
satellite radio preparation
privacy glass
$41,895.00 MSRP

and finally this one:
#3
24 months..10K/yr
Black Sapphire with Beige
leather, Premium pkg., Automatic, Heated Steering Wheel, Heated Seats,
Xenon Headlights, Satellite Radio Prep., and Privacy Glass for an M.S.R.P. of
$41,645.00 and a selling price of $41,000.00 for $538.31 per month with $3946.81 down.
It is a 73% residual and a money factor of .00175.

they all sound high. opinions??

markcincinnati · January 2006

Our 8+ month old 2005 BMW X3 is one of my wife's favorite cars EVER (and she and I combined since 1977 have had 28 Audis and 2 BMW's -- take a deep breath that did include several company cars that were Audis.)

She got the 3.0 with the 6spd manual and

Premium
Sport
Cold Weather
Sound system upgrade
Bi Xenons
Servotronic
Sat Nav
Sirius
Chrome tail pipe extensions
In car built in/removable Sony Ericsson T637 Bluetooth and mounted phone.
BMW specific (dealer sold) Kleen Wheels

And probably a couple other things I forget right now.

MSRP including shipping and the three accessories mentioned above ~$47K; we put $250.00 down (for the Servotronic), sec dep and got a 36 month 15K per year lease including tax (state of Ohio) for $581/mo.

We custom ordered the car, it took 7 weeks to come in -- black gloss (at the time the bumpers ONLY came in black, now they are body colored) with the Terracotta Leather Sport seats and the light birch wood.

We have had the wiper blades changed once, it has over 13,000 miles on it and we have had to add one pint of oil during this period of time. Picked up the car in May 2005, car was built in April 2005. Only other visits to dealer are for weekly free car washes Starbucks and choc chip cookies avail to all customers all day Saturday.

I assume there are changes in the 2006's beyond the dressed up bumpers.

We thought the vehicle with the 5spd auto was adequately powered as the transmission seemed to hunt a lot (Cincinnati is the city of "7 Hills.") With the 6spd manual it was a blast and the mileage is good (~24 highway around town; in the city ~20; on long trips over 25mpg even with the A/C on.)

Regrets: we didn't get the home link transmitter option (didn't know it didn't come with it); we didn't get the privacy glass option (the only one we've seen without it is ours); AND MAYBE the power folding mirrors, but frankly this has never been a problem so for $350 or whatever, we might re think that one.

Encourage others to: ORDER the car with SERVOTRONIC it is "only" $250 and it transforms the steering and feeling you get via the wheel. It was here in Cincinnati a sold order option only. Beats me why. The stock sound system is lame. The upgraded system with Sat Radio and the single CD in dash is very nice.

It is a BMW -- it is NOT based on a truck. It is NOT really an off road vehicle. It rides higher than a BMW sedan and has a firm suspension. It handles, therefore, like a somewhat taller sport sedan from Germany -- the ride is firm, at slower speeds on a "washboard" surface the sensation can be one of being jostled. This happens, to us here in Pot Hole Central, less than 5% of the time.

This is a relatively quiet vehicle, but there is a bit less isolation than in a similar Lexus -- some people love this (my wife) some don't want to hear or feel the road -- hell, some don't even want to see the road. The X3 needs a slight upgrade to the material covering the dash. This has not been and I suspect it will not be a durability issue, it is an appearance issue. It seems to look better in black which hides the coarse pebble grain of the dash.

With a high contrast interior, like Terracotta, it is not really too much of an issue, but for $47K you'd think they would take a page out of the book of the 3 series or from an Audi A4 for Pete's sake.

Confidence inspiring is what my 50 year old lawyer wife says after 3 Audi TT 225HP coupes and a dozen Audis of various ilks since her first Fox in 1979.

She likes being slightly higher off the road and the feeling of the X drive when we have one of those nasty but brief Cincinnati Snowstorms (luckily only 1 this year.)

Hope this helps if you are a shopper at this moment in time. The deals, too, seem to be quite good as the residual (subvented or not, who cares?) on these cars seems impressive.

Drive it like you live.

:shades:

CarMan@Edmunds · January 2006

Thanks for taking the time to post such a detailed message about your lease, markcincinnati. I'm amazed that you've had over 28 Audis :surprise: . What made you switch to BMW? Did you just get sick of them or did you get a bad one?

Car_man
Host
Smart Shopper / Prices Paid Forums

mnovodvor · January 2006

Hi,
I wanted to ask your opinion on the deal I am considering here in NY:
X3 White/Terracotta 2006
Premium Package, Heated Seats, Privacy Glass
The MSRP comes to $40,220
The lease I was quoted was
36 motnth/10,000
$495 per month before taxes
$3,495 due at signing ( including 8.25% NY sales tax)
Does it seem fair?
I want to get as low as $470 per month, do you think it is reasonable?
Also, in general do you get a better pricing when you buying off the lot, or when ordering and waiting 8 weeks?
thank you, appreciate your comments.
michael

fogdogpd · February 2006

Looks like with the current demand for sedans so high (up 10% over 2004) no great deals are currently offered on a 3-series sedan (325i or 330i)and I am looking to switch to an X3 when my 330i lease runs out next month, and I had two questions:

1. Has anyone moved from a 3-Series to a X3 and what did you like and not like after the switch that you had not predicted, and

2. What are the current lease terms for February - I am looking for a 2 year 15K a year lease or possibly a 20K miles a year lease.

Also, my lease is up in March and the current programs only last through the end of February, any thoughts on gambling on a better rate in March versus doing a deal this month? The rates seem to have gotten better in February from January based on the nominal offer on bmwusa's web site.

Thanks for any thoughts!

Peter

mariab · February 2006

Wish I could help...I'm looking too. My salesperson is reluctant to reveal anything and I'm getting irritated. I think I am getting a reasonable deal, but her attitude is turning me away. All she will tell me is my total payment and the Purchase price, no down payment, no 1st payment, No deposit. The purchase price includes a navigation system I don't want and she has told me I won't have to pay for because it's the only one they have that has all of my other options. That tells me she is not so honest. I have sent her an email asking for all of the specifics but not sure what to watch for in her response.
I am looking for 36mos/15K/PremiumPackage.

Also, what is the "Prepay amount" that they did specify in the info sheet she gave me?

jaydeepb · February 2006

Hey there,

I moved from a 2002 325Ci Coupe to a 2005 X3 3.0 last year after my lease was over. Considering I had the Sports Package on the 325 I still like the ride of the X3. It handles very well for its height, it has more interior space, and the huge sunroof is great.

I don't know if the 2006 received an upgrade to the interior or not but it is not as good as the 3.

If you want to know more let me know.

JD

CarMan@Edmunds · February 2006

Hi Michael. 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 work give you my opinion on this deal if you let me know what its selling price is.

Generally speaking, dealers usually prefer to sell vehicles that they already have in stock to ordering them. The logic behind this is that when they sell a unit that they already have, they can stop paying floorplan interest on it. Plus, a lot can happen between the time that a consumer orders a vehicle and they take delivery of it. If you drive off in something that is in stock, they know that you won't back out of the deal like you can with an order.

Car_man
Host
Smart Shopper / Prices Paid Forums

CarMan@Edmunds · February 2006

Greetings Peter. According to the latest information that I have seen, if you were to lease a 2006 BMW X3 through BMW Financial Services for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00125 and 60%, respectively. 15,000 miles per year is the highest mileage allowance that BMW publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

It is difficult to say what BMW's March lease program on the X3 will be like. BMW just enhanced its lease program on this truck for the month of February. If I had to make an educated guess, I would say that its lease program for it will probably be about the same next month. Again, it is tough to say what will happen for certain though. A lot of what BMW does will depend upon how its February sales turn out.

Car_man
Host
Smart Shopper / Prices Paid Forums

CarMan@Edmunds · February 2006

Hi mariab. Please see my previous message for the money factor and residual value information that you are interested in. I'm not sure what the "prepay amount" that was on the info sheet that you were given means. Perhaps it is the amount due at lease signing. BMW Financial Services charges lessees their vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $50 increment, a $625 lease acquisition fee, and any other required state fees or taxes at lease signing. You can have your truck's security deposit waived in exchange for an increase of .00015 in the money factor that is used to calculate its lease payment.

Car_man
Host
Smart Shopper / Prices Paid Forums

mnovodvor · February 2006

Car_man, thank you for reply; I see what you are saying
The selling price quoted was 39,800.
So:X3 White/Terracotta 2006
Premium Package, Heated Seats, Privacy Glass
The MSRP comes to $40,220 ; Selling Price 39,800
The lease I was quoted was 36 motnth/10,000
$495 per month before taxes
0 down
$3,495 due at signing ( including 8.25% NY sales tax)

This seem high to me especially with this month deal;
what is reasonable monthly payment I can bargaain for?

thank you
michael

kyfdx · February 2006

My first reaction to your deal is that you aren't getting nearly enough off of the MSRP... $420 discount... A decent deal would be at least $1000-$1500 less.. Which would equate to a payment that is $30-$45 lower per month...

regards,
kyfdx
Host-Prices Paid Forums

josephalvarado · February 2006

After much research on the internet and e-mails to BMW car dealers, I got the following written lease information on a X3 2006 premium pkg, black exterior and light leather interior. $299.00 for 24 months with $4,500 down. The $4,500 includes first month's payment and $625.00 acq. fee.
Sales tax of $977.83,$45.00 Doc fee and $10.00 inspection fee are extra. The lease is for 12,000 miles per year, two year and .20 per extra mile. Total amount due at inception, $5,844.31 Total cost $12,721.31. Is this a good deal?

billmv · February 2006

CarMan

In a prior post of yours you made the following statement: "...if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through..." The implication is that the lessee's obligation to the bank/lessor is then extinguished, and everybody walks away with no further obligation on the part of the lessee.

I have always operated under the impression that my insurance company would pay me the value of the vehicle at the time it was stolen, and then I would have to settle up with the lessor, which may or may not fully satisfy my obligation under the lease. The fact that they will pay off the BALANCE of the lease is surprising. Since the value of a vehicle theoretically drops most quickly right after the vehicle is sold, doesn't that put the insurance company in the position of potentially having to pay more to a lessor than they would if they had to pay someone who owned their vehicle free and clear, if the theft occurred early in the lease, rather than toward the end, when the balance owed and the value converge? I just can't believe they would take this additional exposure on willingly.

I don't know how the lessors compute the remaining balance on their leases at any given point in time, but if it's anything like a normal loan payoff there would definitely be a gap between the balance owed and the value of the vehicle. So you pay a little extra for "gap insurance" if it's not already built in to the lease rate to protect against just this situation.

My wife leased her car through a private leasing company, and they passed the bank's gap insurance fee ($125) through to her (at no markup, unlike the Mercedes dealer would have done if she had leased through them).

Can you enlighten us all on this, please? Is this something that BMW FS agrees to do (take the amount offered by the insurance company) that is different from other lessors?

Thanks! By the way, great intel on MFs, promotions, timing and other nuances of how to tailor a BMW lease to your needs.

tpcleary · February 2006

Sorry about the previous blank message.

Anybody every try one of the free lease quote sites? This one is attached to a site selling lease analyzing software.
http://www.autoleasingsoftware.com/cgi-bin/aldpartner.pl?aldcbt

Wanted to see if anyone had any experience. might just try them to see. Thanks, Tom.

emilyk3 · February 2006

Car_man,
I've been talking to a few dealers about leasing the 2006 x3. They keep quoting a money factor of .00165 indicating it is based on a "buy rate" of .00125.

What is the difference between the two? Or, is one just the rate from BWM and the other the rate after their markup?

Does the dealer have the option of reducing/eliminating the markup on the "buy rate"? (i.e. is it a negotiation point).

Also, they all keep quoting me an acquisition fee of $825 (vs the $625 I've seen here) and one dealer quoted a 60% residual on a 36mo/30K mile lease (even after I asked why it wasn't 63% as quote on the board...his response was "BWM has one of the highest residual values" so if feels like I'm getting the runaround).

Any input regarding how to get the dealer down to the "buy rate" and higher residual value would be greatly appreciated!

Thanks for your help!

BMW X3 Lease Questions

Comments

Helpful Tools

Most popular vehicles