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BMW X3, SUV
#1044 of 1822 My lease deal
Aug 21, 2005 (4:14 pm)
First, thank you kyfdx. Your posts were very helpful in getting this deal. Are you a BMW dealer?
Summary: $0 down, $400/mo, 39 months, 10K miles
2005 BMW X3 3.0IA
Titanium Silver: $475
Privacy Glass: $350
Destination Charge: $695
Total MSRP: $37,820
Cap Cost: $35,910 = $35240($250 over invoice)+$45doc fee+$625acq fee
Cap Cost Red: $2
Adj Cap Cost: $35,908
Residual Value: 23826.60
Rent Charge: $2329
Lease Payments: 369.51+tax=$399.99
My total drive-off was $1102.91 (first month, $400 sec deposit, reg, taxes, CA tire fee)
$399.99/mo for 39 months 10K per year
This was using a MF=0.001 (2.4%)
I had to put a $2 cap reduction in order to keep the payments under $400 so my security deposit stayed at $400 and not $450. The security deposit is apparently set at the next $50 mark above your lease payment. So, for an extra $2, I get to keep $50 in my pocket for the next 39 months .
I found the dealer through an internet pricing site. I did so many of them, I don't know how I connected with him. The internet is truly the best way to buy a car. I was in and out of the dealership in a couple hours.
I feel this was a great deal.
Thanks again, kyfdx.
#1045 of 1822 Re: please advise [kyfdx]
Aug 21, 2005 (6:17 pm)
Thanks. Please explain further : 319 includes taxes (299$ is monthly payment + taxes~20 $?) ; is it together with 1100$ sales tax (per your comment) or instead?
Dealer mentioned that 2500$ is downpayment; should I ask them just redistribute down to 39 month : 2500$/ 39 month = 64 $ - is that should be additional per month; i.e. total per month should be 299$+64$= 363$ +tax ???
#1046 of 1822 Re: BME X3 2005 3.0 model [kyfdx]
Aug 21, 2005 (6:39 pm)
Kyfdx Thanks for your response. I will answer your questions in the same order
1) The price doesn't include taxes.
2) Outside of security deposit there is no amount required for cash down
3) I am not sure how the dolar amount went up by 36 - will verify with the dealer
4) You are right- i am expecting the cost to go up by around $2000 with some options
#1047 of 1822 Re: My lease deal [x3guy]
by kyfdx HOST
Aug 22, 2005 (7:07 am)
$1100 upfront and $400/mo. for a $38K car.... is a good deal, no matter how you slice it..
#1048 of 1822 Re: please advise [mishka7368]
by kyfdx HOST
Aug 22, 2005 (7:10 am)
I was just using a hypothetical...
But, yes... I'd rather back that $2500 downpayment out of the deal, and yes, it will add a corresponding amount to the payment.... but, it will end up being a little more than $2500 / 39, because you'll have finance charges on the $2500 that is included in the payment.. So, maybe $365/mo.+ tax...
The deal looks okay... just avoid putting all that money upfront...
#1049 of 1822 Re: BME X3 2005 3.0 model [racno]
by kyfdx HOST
Aug 22, 2005 (7:17 am)
If the acquistion fee is added into the cap cost, the 12K/yr number is pretty close.. maybe about $5/mo. too high... That would leave only 1st payment, security deposit and registration fees due at signing... And, of course plus taxes..
If you get a comparable deal for a more expensive model, figure about $12-$13/mo. higher per every $1000 higher MSRP...
He may have just been quoting 15K numbers off the top of his head... The difference should only be $20-$22/mo. more...
Aug 22, 2005 (6:40 pm)
Interested in buying a X3 2.5, as this model won't be in production in 06. Is now a good time to buy? I checked some dealers around and they basically asked for 1K higher than invoice price. Is this a good price?
#1051 of 1822 Re: BMW X3 2.5 [bmw_x3_2005]
Aug 23, 2005 (8:25 pm)
I bought a X3 3.0 two weeks ago for 500 over invoice in rochester,ny and noticed some posts for even less. Aim for a price 500 below invoice as 2.5 does not seem to be as popular as 3.0. Good luck.
#1052 of 1822 Re: Leasing a BMW X3 2.5...wait for September? [kyfdx]
Aug 24, 2005 (11:03 am)
Hi there again, I looked into leasing the X3 3.0 as suggested and here's the deal they are offering...is this legit?
For an automatic White on Beige leather with premium pkg., privacy glass and satellite prep:
Initially their best offer was:
purchase price: $36,720
MSRP: $39,220 (plus tax and DMV)
Residual: 63% of MSRP
MF: .001 with a $450 deposit
39 month lease
I got them to lower the purchase price to $36,270
The lease came out to: $404/mo + tax = $427/mo.
Drive off: $1209.40
I'm in CA and the tax here is 8.25%
Thanks for the help! Also, should I roll the deposit into the lease?
#1053 of 1822 Re: Leasing a BMW X3 2.5...wait for September? [blu777]
by kyfdx HOST
Aug 24, 2005 (11:49 am)
If I use $36,270 as the purchase price... the only way I can get to $404/mo.+ tax, is to assume the acquistion fee is rolled into the cap cost (this looks right), and the money factor is bumped up to the maximum .0014.....
It looks like they are bumping up the money factor.. At the base money factor, the payment would only be $380/mo.+ tax..
I wouldn't roll in the security deposit...