Last post on Mar 06, 2013 at 2:48 PM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW X5, SUV
#245 of 2444 Re: 2005 X5 3.0i LEASE [mannydom]
Mar 27, 2005 (5:09 am)
Assuming the acquisition fee will be paid in cash and will not be part of the capitalized cost, your monthly pre-tax payment should be $512.71. Adding 8.75% tax brings it to $557.57.
I was able to verify my BMW lease with my dealer to the penny.
I don't know about Illinois doing it differently, perhaps kyfdx or Car_Man knows, but I sure wouldn't do a deal where I come up with $557 and they come up with $627. Sounds like a $2500 over-charge.
#246 of 2444 Re: 2005 X5 at $500 over invoice [mannydom]
Mar 27, 2005 (1:13 pm)
Yes, invoice the same as Edmunds and Kelly, I checked to makes ure.
I don't know what is Gap insurance? Can you explain?
#247 of 2444 Re: 2005 X5 3.0i LEASE [mannydom]
by kyfdx HOST
Mar 27, 2005 (2:03 pm)
In Illinois, you pay sales tax on the entire price of the car, not on the monthly lease payment... I think if you multiply the tax rate by the selling price, you will come pretty close to the dealer's payment.. Your calculations are right on the money, other than the tax thing..
Sorry I don't have better news for you.. You have negotiated a great lease deal, otherwise...
Mar 27, 2005 (7:43 pm)
Any dealer that says they don't discount X5s...you should run the other way and don't look back. It doesn't matter where you buy your BMW, EVRY BMW service center MUST honor the 4 year/50K warranty & free maintenance. Some dealerships won't give you a priority service appointment or a loaner car if you don't buy from them.
Mar 29, 2005 (12:28 pm)
Gap insurance covers the difference between what the car may be worth if totalled and what is remaining on the lease. BMWFS as well as others include GAP insurance in their leasing programs.
#250 of 2444 Re: Gap Insurance [kobayashi]
Mar 29, 2005 (9:57 pm)
how is gap insurance incorporated into a lease plan or program? thanks
#251 of 2444 Current X5 finance rate
Mar 30, 2005 (10:39 am)
Anyone know the current finance rate? My new X5 should be here in about a month... I'm buying, will pay cash, but if finance is good, 2.9% or under, I'll take a 5 year. Any ideas?
#252 of 2444 X5 3.0, 4.4 how much to pay
Apr 01, 2005 (6:55 am)
What is a good figure to get to for a 3.0 or a 4.4. I would prefer to get the number as a percentage above invoice. Also how much above invoice should I pay for any options. I was thinking about negotiating to 5% above for the basic vehicle, 0% above for destination, title etc, and 1% above for optional extras. How does that sound? Even though this isn't the X3 forum, can someone add the same numbers for an X3 3.0? I am in the Danbury, CT area with multiple dealers in the surrounding area.
#253 of 2444 Re: Current X5 finance rate [gnailuh]
Apr 01, 2005 (6:56 am)
If you have the cash available, you are going to be better off investing it than spending it. eloan etc. have rates about 5.5% for 60 months. You will surely do better than that by investing.
#254 of 2444 Re: Current X5 finance rate [sirman]
Apr 01, 2005 (10:45 am)
Is it? I do a lot of investing... 5.5% rate, let's say I take the lot and invest it, and let's say I make money on my investment... after taxes, 33% (let's say) of that goes away, for me to make back my 5.5% I'll need to earn about 9%. 9% average return for 5 years is not easy with mutual funds... if you hit a good year, yes. Stocks, sure, but high possible lose too... And then the management overhead and trouble you have to take, especially stocks.
ING Direct offers 2.8% on savings, if I get 2.9% for a car loan, then I'd do it for sure... but 5.5%... I'm not sure. Home equity lines are always good (tax deduction).. but with interest going up, month-to-month adjustables will creep up.