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Prices Paid: Buying & Leasing Experiences BMW X3 Prices Paid and Buying Experience
1453 messages, Last post on Jun 23, 2008 at 2:53 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
When the time is right, I think what I'll do is create my own fair deal lease and send it to my local dealer. Giving them the option of meeting MY requirements for a lease (or at least getting close) before venturing into markets outside of my city. Sort of like the fightingchance.com fax attack, except the calculations have already been done to my specifications. This way they'll know I'm an informed consumer, and hopefully keep the negotiating shinanagins to a minimum. If my one-BMW-dealership town rejects my offer, then I can send the same to outside markets and let them fight it out. Has anyone out there tried this approach?Bright idea? Or not?
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Replying to: timmboj (Apr 18, 2007 4:42 pm) ==================================================== I was walking the lot today (Sunday), and noticed that you had a leftover '05 330 convertible.. in Silver Gray.. I think it is this unit from your website: Description: Exterior Color: Silver Gray Metallic Interior Color: Black Leather Engine: 6-cylinder Transmision: Automatic Packages: Cold Weather Safety Features: Dual Front Airbags Front Side Airbags Traction Control ABS (4-Wheel) Features: Xenon Headlights BMW Assist ---------------------------------- I'd be interested in leasing this car, if you can do this deal: $49,345 MSRP $45,200 Selling price $45,825 Cap cost (selling price + $625 acquisition fee) 3yr/45K lease 61% residual ($30,100.45) Money factor .00075 (base rate) Payment = $494/mo. + KY sales tax (approx. $525/mo. total) Due at inception: 1st payment ($525), security deposit ($550), title/license/registration fees (approx. $200) Total due at signing approx. $1300 Thanks for your time and consideration.. ========================================= I made almost that exact deal within 4 days.. My actual deal was for $200 more, resulting in a payment that was $529/mo... and my due at signing was $1196. So.. it can work!! regards, kyfdx |
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I'm interested in leasing a bmw x3. I shopped around the Chicago area, and asked my brother to stop by bimmer dealerships in a few neighboring states. One particular dealer showed him a 2007 X3, which was VERY nicely equipped with a msrp around $44,xxx. The lease details are as follows: $3,000 total out of pocket cash (clearly stated not interested in hidden fees, just want to write one check). 12,000 miles a year 24 month lease $425 a month I've seen a few people on this site with $500+ lease rates. Does this monthly rate ($425) seem about right, a bit sketchy, or simply a great deal?  Very much value your input... Thanks, Joe
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Replying to: phatjoe (Apr 18, 2007 9:48 pm) Still.. not a bad deal on a $44K vehicle... But, I'm sure that quote from an out-of-state dealer doesn't account for Illinois taxes.. Illinois taxes the full selling price on a lease.. Over 24 months, that will likely add more than $100/mo. to the payment. Which is why short-term leases aren't usually cost effective in Illinois. regards, kyfdx |
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I just picked up my 07 x3 today. I got the premium package, heated front seats, privacy glass, rear and front sensing system. I am paying $475 a month for a 36 month lease with 12,000 miles (no money down and I paid the taxes upfont). I think this was a pretty good deal. What do you think? |
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I just sent an email to a local BMW dealer (Dallas, TX area). Here is the deal I sent them: Terms: 36 months / 15k miles MSRP: $42,975 Sale Price: $41,685.75 Down Payment: $2,000 Residual: 65% ($27,933.75) Money Factor: .002 Tax Rate: 8.25% Monthly Payment: $563.04 They sent me an email back saying that they can't control the money factor, but that everything else with the offer is fine. They also said that they are running a special for this month with no sales tax. That is a big deal in Texas since sales tax is based on the total sale price instead of the used value. I have a couple questions: 1. My equifax credit score is 710. What kind of money factor should I expect to be getting? 2. In Texas, to calculate the total lease payment, the tax is based on the sale price only or is it sale price + fees? 3. What kind of fees should I be seeing? I'm guessing just an acquisition fee. By my calculations, with the no sales tax offer, I should be looking at $461.88/month for this without any fees being accounted for yet.
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Replying to: ejsmith (May 11, 2007 9:17 am) 2) Tax is most likely on selling price plus any non-governmental fees (acq.fee, doc fee, etc.) No tax would be a big, big savings. I've heard of TX dealers having tax credits available. 3) Acquisition fee of $625 (dealer can mark this up to $825), most TX dealers charge an inventory tax (it is under $100, I think, registration.. Watch out for document fees, prep fees, dealer fees.. these are all just profit padding. With the .00215 MF, I get around $471/mo. with a $2000 CAP cost reduction.. If you use the $2000 to pay the upfront costs (1st payment, security deposit, acquisition fee, title), then the payment would be approximately $532/mo.+ tax.. No tax is a huge savings... Tax would be around $70/mo in Texas.. regards, kyfdx PS: $2000 upfront and $532/mo. is a very achievable deal.. don't let them bump you up any higher.. They are only providing a $1300 discount from MSRP.. They shouldn't have to make any more from the financing.. |
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Hi Folks: I've just ordered a new X3 loaded to the gills. Found an accomidating dealer and have placed an order. Now I'm figuring out leasing terms. This is my first potential BMW lease - but I've leased before and I am familiar with how leasing works. I only lease for tax purposes. It can help accelerate tax write off of a business luxury car. The alternative is paying cash. So, here is my question. Right now I'm being told that for a 24 month lease with 50,000 miles per year the money factor is .00215. This translates into 5.16%. Here on this site I've also seen money rates being discussed at .00200 and even someone talking about .000700 or an ultra-low 1.68%. My credit scores are north of 800 (perfect). Lastly the residual buy the car at lease end value that I'm being quoted is about 54% of the negotiated cash price,(remember 24 month at 50K miles per year). Is this residual in line or should it be different? Is .00215 the deepest discount money rate BMW offers right now? Is the $625 "acquisition fee" standard or is it negotiable? BTW does the dealer get part of this? Do you have any idea how the money rate and or the residual value may change over the next 6 to 8 weeks (the time needed to build and deliver the car)? Many thanks, NewQ
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Replying to: newq7 (May 21, 2007 3:10 pm) - Do you really mean 50k miles per year? That's alot. - Residuals are typically stated as a percentage of MSRP, not the selling price.
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