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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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Hi, Hoping you can help. We are looking at the x3 3.0 in Maryland. The MSRP is 40,500 with the options we want. We want to lease for 3yr/45K. Question #1 what do you think the best deal is given those numbers? we would like to put down $2000. (hoping for payment around $500) #2 we were told the money factor sell rate is .00155- is that negotiable? Thanks in advance!
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Replying to: drmy (Mar 14, 2005 10:55 am) And.. you are off to a bad start.. your dealer is already lying to you.. the "buy" rate is .0010.. This could also be the "sell" rate if the dealer so chooses.. A rate of .00155 would be with the maximum possible markup and with the security deposit waived.. Be sure to learn the difference between a "downpayment" and "due at signing". I recommend never making a downpayment.. regards, kyfdx
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Replying to: kyfdx (Mar 14, 2005 8:14 am) I agree on the Edmunds calc., don't say it too loudly though, there be spies among us. Thanks again |
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kyfdx, I don't know how you put up with all these questions but here goes another one for me. You may remember me as the guy with the current Freelander lease trynig to figure out if the current promo is good enough to terminate the lease early. Anyway...here are some rough numbers I got from the dealer. MF .00100 - 62% Residual for 10k/yr X3 3.0 Automantic, Premium package, heated seats, & Metallic paint. MSRP $ 39,770 Cap Reduction (cash down) $2,500 *Can I ask why you don't agree with down payments?* Initial payment (includes cap reduction, 1st. payment & security deposit) ...... $3,602. Payment before taxes $ 406.94 Payment including taxes (7.4%) $437.05 $437 sounds about right for what I expected to pay for an X3 but I wouldn't mind it a little lower. What are your thoughts on 39mo leases?
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Replying to: robertv (Mar 14, 2005 2:34 pm) 2) To get to that cap cost, I have to assume a selling price of $38,955 $38,955 - $2500 down + $625 acq.fee = $37,080. That is only $825 off of MSRP for the selling price.. So, while they are using the base money factor, which is good.. they aren't giving you much of a discount off the MSRP.. I think you should get at least $1000 more off.. IOW, you should get this same payment with only $1500 down, and $2602 due at signing.. Reasoning on "no downpayment" to follow.. regards, kyfdx |
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Hello! I have been working with a dealer on getting a new X3 3.0. I had been conversing over email about the pricing and we came to an agreement. When the dealer located one to our specs, we went in and worked out the numbers. When I say we I mean the dealer. He had gone in to the "office" and came out with a sheet that had some numbers worked out on it. Upon inspection the final monthly payment looked around what we had been working towards. ( I know, mistake number one, monthly payment isnt the goal, cap cost is!) Well we signed a sheet saying the price looked good and we put down a deposit. Problem is, when I sit down and work the numbers we agreed upon, the monthly payments don't match up. I don't know where they are adding stuff in but there is a small (read $19) difference. I want to know if it is too late to call them on it. I have signed something (no legal information on it looking the sheet over) and put down a deposit. If I've made a mistake, I'll eat the difference. We have to have that car!  But I'd like to at least know if I have a chance working it out a little bit, maybe add on an alarm or something...make that $19 up in the car. Anyone?
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Replying to: nappie1 (Mar 15, 2005 12:02 am) Or, maybe they added the acquisition fee into the cap cost.. You can't ask for something, until you've ascertained if they took something away.. And.. the goal IS the monthly payment.. After all, that is what you are paying.. Knowing what constitutes a good deal requires that you know what affects that payment. regards, kyfdx
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I always recommend against making a downpayment (aka: cap cost reduction) on a lease.. 1) It doesn't appreciably change the amount you pay for the lease overall.... All it does is mask the monthly cost of the vehicle.. Advertised leases usually involve a downpayment, because that makes the car seem cheaper. 2) Any money you pay upfront is at risk in a lease.. If the car is totaled or stolen early in the lease, any downpayment you made will likely disappear.. If you put $2500 down, then after three months the car is stolen, you've likely spent 1300/mo to lease that car for three months.. regards, kyfdx
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Replying to: kyfdx (Mar 15, 2005 7:16 am) What are your thoughts on a 39mo lease?
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Replying to: robertv (Mar 15, 2005 8:29 am) 2) You will pay taxes on your downpayment, in addition to taxes on the payment, so no savings there... 3) You may be "comfortable" with the lower payment.. but, that is exactly my point.. Your payment isn't really lower... you are paying part of it upfront... You can always put your downpayment in a money market account and draw out 1/36th of it to defray the payment each month... 4) 39 month leases are fine, if your are under warranty.. as long as there is a savings over 36 month... BMW occasionally runs a special on 39 month leases, but not that often, and isn't doing that now, I don't think... regards, kyfdx |
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