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Did I get royally screwed? Terrible lease deal what can I do?

ultrabmwultrabmw Member Posts: 4
edited April 2018 in BMW
I got zero options.
42650 MSRP +995 destination fee.

I paid 1500 down (+1500 loyalty rebate)
only 10k miles
$565 month.

I want to cry... It's my fault for signing the lease.
It's been roughly 48 hours and the financing contract is still at the dealership.
What can be done??
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  • kyfdxkyfdx Moderator Posts: 236,810
    ultrabmw said:

    I got zero options.
    42650 MSRP +995 destination fee.

    I paid 1500 down (+1500 loyalty rebate)
    only 10k miles
    $565 month.

    I want to cry... It's my fault for signing the lease.
    It's been roughly 48 hours and the financing contract is still at the dealership.
    What can be done??

    The X3 doesn't have that great of a lease program. Your deal doesn't look that bad.
    If you already took delivery, nothing else to be done.

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  • bluemkn57carsbluemkn57cars Member Posts: 1,009
    edited April 2018
    ultrabmw said:

    I got zero options.
    42650 MSRP +995 destination fee.

    I paid 1500 down (+1500 loyalty rebate)
    only 10k miles
    $565 month.

    I want to cry... It's my fault for signing the lease.
    It's been roughly 48 hours and the financing contract is still at the dealership.
    What can be done??

    Why do you think you got screwed? What was the sale price and cap cost? Can you not afford the payments?
    2021 Audi A6 P+2018 Audi A4 P+ (lease returned)2013 Honda Accord EX-L (Sold)
  • ultrabmwultrabmw Member Posts: 4
    edited April 2018
    Thank you for your reponses! Gross capitalized cost was $40,996. MSRP was $42650. Value of vehicle was $40,070.
    Total payment for 36 months will be $21,507.72.
    RESIDUAL is $25314
    These numbers look ok to me, but

    I just think my monthly payment is set too high? My credit is excellent and the money factor was .00191. After I got this deal, other dealers sent me quotes for under $500 with same money down.. :( It just doesn't make sense to me.
  • kyfdxkyfdx Moderator Posts: 236,810
    edited April 2018
    ultrabmw said:

    Thank you for your reponses! Gross capitalized cost was $40,996. MSRP was $42650. Value of vehicle was $40,070.
    Total payment for 36 months will be $21,507.72.
    RESIDUAL is $25314
    These numbers look ok to me, but

    I just think my monthly payment is set too high? My credit is excellent and the money factor was .00191. After I got this deal, other dealers sent me quotes for under $500 with same money down.. :( It just doesn't make sense to me.

    The MSRP includes destination, so from your first post, it would be $43,645.
    The Gross CAP is the selling price + $925 acquisition fee.

    The money factor markup is not ideal.. that added about $25/mo. to your payment. But, that happens a lot.

    It's not a terrible deal. Quotes aren't deals, and the numbers often don't add up, once you go to the dealership.
    Plus, that's water under the bridge. If you want to feel bad, keep asking for other quotes.

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  • ultrabmwultrabmw Member Posts: 4
    edited April 2018
    You're right, thank you so much! - So I guess I didn't get a great deal, but it's not that bad? Well... life goes on... thanks for reading & providing your help!
  • ultrabmwultrabmw Member Posts: 4
    edited April 2018
    I called BMW financing and the total buy out is $38,959.
    So including what I paid out the door (1500 - includes 1st payment), I'll be paying $40459 total for a standard 2018 x3 (no added options).
    Is that a fair price for a cash purchase?
    I'm thinking about just purchasing the vehicle now- since they played with my MF and raised my monthly payments. I just want to make sure that is a fair price for a cash deal? Could you please help me? THank you so much!
  • kyfdxkyfdx Moderator Posts: 236,810
    ultrabmw said:

    I called BMW financing and the total buy out is $38,959.
    So including what I paid out the door (1500 - includes 1st payment), I'll be paying $40459 total for a standard 2018 x3 (no added options).
    Is that a fair price for a cash purchase?
    I'm thinking about just purchasing the vehicle now- since they played with my MF and raised my monthly payments. I just want to make sure that is a fair price for a cash deal? Could you please help me? THank you so much!

    How are you going to finance it?

    Once you are in the lease, just ride it out. If you still want the vehicle after three years, then buy it.

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  • bluemkn57carsbluemkn57cars Member Posts: 1,009
    @ultrabmw Why not enjoy the car for the next 3 years as @kyfdx mentioned? Having buying remorse at this point is not going to help. My $0.02.
    2021 Audi A6 P+2018 Audi A4 P+ (lease returned)2013 Honda Accord EX-L (Sold)
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