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Prices Paid: Buying & Leasing Experiences BMW X3 Prices Paid and Buying Experience
1544 messages, Last post on Sep 28, 2009 at 3:51 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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| I should have come to this site before I leased, but I wonder if you "experts" can tell me if I got a fair deal. I leased a X3 3.0 with the premium package, cold weather, heated steering wheel and privacy glass etc... The MSRP was $40, 500 and change. I put 3000 down and they gave me 800 over what my trade-in was worth ( based on NADA and edmunds). So, the down payment was essentially $2200. My lease payments are $468 a month. The lease is 10K a year for 3 years. Thoughts? | |
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I was thinking about leasing an X3, but after learning of the high taxes on leases in the city of Chicago, the dealers suggested the Owner's Choice purchase option. From what I've been told, this financing plan has low monthly payments like a lease, but I would own the car and have the ability to turn the car in at the end of the 42 months (or complete the purchase at the pre-determined residual value). Has anyone had experience with the Owner's Choice plan? My main concern is that I will have a difficult time turning the car in and will be hit with additional costs. Thanks. |
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I think it is, but want to double check  '05 3.0 Manual (don't want auto), Premium Pkg, Heated Steering Wheel, Heated Seats, Xenon, Sat Prep, Privacy Glass. Invoice $37,670 offered (accepted) inv + 1000 (and 200 MACO) $38,870. Thoughts?
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Replying to: jeffkiel (Jan 03, 2005 3:26 pm)
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Replying to: kyfdx (Jan 03, 2005 7:12 pm) 
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Have been reading about X3 Purchase options and experiences. Looking to lease one in March/April ...Some questions 1) Credit Rating really affect lease possibilities? 2) Will a large down payment counteract subpar credit ratings? If so, what % of purch price is helpful? 3) Is BMW financial the only leasing co for BMW'S? I imagine not. 4) If upside down, does the leasing company care what the cap cost is when some of the upside down $ are tacked on to figure out Residual? In other words .. is it simialr to the max loan amt of a vehicle a bank will allow or lend? 5) Does it follow that there is little bargaining power for the "credit challenged buyer?" Performance: Is the addtl 40 horses on the 3.0 really a big difference? Or does the 2.5 have sufficient or more than enough horses? There are commnents on the sub par quality of interior materials/ Any thoughts? To me it is still a Bimmer and is really HOT looking!
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Replying to: wait4mrch (Jan 17, 2005 1:36 pm) 1) Definitely.. leasing usually requires better credit than purchasing. 2) Not sure, but downpayments are usually a bad idea when leasing, for other reasons. 3) Usually BMWFS has the best rates for leasing BMWs.. However, if you are credit challenged, then an outside bank may be your only option. 4) Yes.. same as a loan.. there is a maximum cap cost with relation to MSRP. 5) I think your purchase price negotiation should be the same.. You may pay much more for the financing.. In this way, leasing and purchasing are similar. The additional horsepower makes a big difference.. BIG.. Also, if you option the car with automatic and sunroof, etc.. the spread is $3K or less.. The interiors don't bother me.. Kind of the difference between an Xterra and a Pathfinder.. more utilitarian.. regards, kyfdx
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Replying to: kyfdx (Jan 17, 2005 1:53 pm) Details: I have a 2004 Jeep Liberty payments at $490. I just think that $489-$550/mo should put me into an X3 and not be stuck with it for 5 years. Thus the lease. Trade Allowance ($5,800) Of course upside down - first year only. I know that I will have to pay for the negative equity and am willing to do so and can afford to. I can afford a max of $6000. I am asking if you can figure lease pymnts the reverse way to detemine what X3 (2.0 or 3.0) I can consider and what range of addtl $ and options I can consider keeping monthlys at $550 or so or less. Antcicpating whatever your experience has been coome MArch for leasing offers. I appreciate any help. Regards!
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Replying to: wait4mrch (Jan 18, 2005 8:09 am) I'll just assume you won't be rolling any negative equity into the deal... '05 X3 3.0 with MSRP of $42K.. Selling price of $2500 off MSRP.. 36mo/15K lease payment is about $513/mo + tax.. with due at signing about $1800. '05 X3 2.5 with MSRP of $38K.. Again, selling price of $2500 off MSRP.. 36mo/15K lease pymt is about $504/mo. + tax.. due at signing about $1800. They have lower money factors on the 3.0, which is why the payment is not much higher.. Your monthly payment might not be much more than the Liberty, but by the time you come up with $7K more to make the upfronts and pay off your negative equity, I think you'd be better off just to continue driving the Liberty.. From that payment, it looks like you might have rolled in negative equity from the car before that.. My advice is to bite the bullet, keep making your payments and keep driving the Jeep.. $7K is a lot of money to switch cars.. regards, kyfdx
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Replying to: kyfdx (Jan 18, 2005 8:34 am) kirstie_h Roving Host Host, Future Vehicles & Smart Shopper discussions
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