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Prices Paid: Buying & Leasing Experiences BMW X3 Lease Questions
723 messages, Last post on Oct 26, 2009 at 8:06 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Updated website today shows BMW offering X3's at $349 for 36 Months. This is better, right? Does anyone know if the MFs and residuals stay the same?
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Hi bra. The lease money factor that you were quoted to lease this truck is definitely too high. BMW Financial Services' buy rate lease money factor for September for the 2005 X3 3.0 is only .00075 with the payment of a security deposit and acquisition fee. It looks to me as though the dealer that you are working with may be trying to mark-up your vehicle's base lease money factor to add additional back-end profit to your deal. As far as your trade goes, you would be much better off having the dealer that you are working with cut you a check for it rather than using the proceeds from it as a capitalized cost reduction for your lease. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your X3 would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. You really need to find out this truck's full MSRP and selling price. These numbers will show you how much of a discount you are being given on it and enable you, or myself, to calculate a sample lease payment on it. Car_man Host Smart Shopper / Prices Paid Forums |
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You're right sponge_worthy. BMW is no longer offering 39 month leases on the 2005 X3 in September. Its 36 month lease program for this model is still fairly attractive though. Car_man Host Smart Shopper / Prices Paid Forums |
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I can give you an idea of what BMW's new lease program for the 2005 X3 is like, timmboj, if you let me know how long you want to lease it for and how many miles per year you need to be able to drive it. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Sep 06, 2005 3:09 am) |
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Replying to: timmboj (Sep 02, 2005 5:44 am) MSRP = $36,995 Sales price = $33,420 (you pay $2,500 upfront plus they discount the car $1,075) Residual = 63% ($36,995 X 0.63 = $23,307) Money factor = 0.0012 (came from the X5 leasing forum) Payment is $348.99 plus tax The residual value is given in the ad (36 mos 10K miles) - I don't know what the money factor is for September but it was 0.00075 in August. Of course BMW dealers are known for bumping up their money factors so I would wait until I know what the official money factor is. |
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No problem timmboj. BMW Financial Services' current buy rate lease money factor and residual value for a 3 year, 15,000 miles per lease of a 2005 X3 3.0 are .00075 and 60%, respectively. Car_man Host Smart Shopper / Prices Paid Forums
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Hi drtravel. Manufacturers like BMW do not publish information about vehicles' lease money factors because they allow their dealers to mark-up their base money factors to add additional back-end profit to deals. Of course, it is a little harder for dealers to do this on a vehicle that has an advertised lease payment available on it. Car_man Host Smart Shopper / Prices Paid Forums |
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Car_Man I notice the BMW site showing the new X3's with the body color. My question is, do the current lease rates apply to that model? Thanks KA
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Replying to: someguy1 (Sep 12, 2005 6:15 pm) For that model, the residual for 36mo/45K is 60%, but the base money factor is .0028 regards, kyfdx Host-Prices Paid Forums
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