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BMW X3 Lease Questions

723 messages,  Last post on Oct 26, 2009 at 8:06 AM

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What is this discussion about? BMW X3, Car Leasing, SUV

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#399 of 723 X3 lease offered to me - think it stinks by buzzbomb999 Feb 22, 2007 (8:42 pm)
Here is an offer I received and the email conversation about select items I had with the internet BMW guy at a CA dealership. I have never leased a car before and have found this site very helpful. This is a bad offer right? And what would be the sell price here - The adj. cap cost? Invoice is listed at $38,635   1. Can you confirm this is a bad deal?   2. How do you get them to budge on the MF?   3. When I plug these numbers into the Edmunds lease calculator with my trade in valued at $2500 I come up with a monthly payment of $452.85 with the 8.5% sales tax already included. Why is it different than his number? What is the $4000 something amount due at start number?   Here it is:   07'X3 SILVER,BLACK LEATHER,PREMIUM PKG,AUTO,PRIVACY GLASS, AVAILABLE MID MARCH.    BANK FEE $ 825.00 [me]Is there a reason this is marked up over the $625 base? [BMW] to pay finance for doing the paper work.   Adjusted Cap Cost: $ 38,825.00   Cash Cap Reduction: $ 2,500.00   M.S.R.P.: $ 41,970.00   Residual Value %: 67.00% &12K MI/YR   Base Monthly Rental: $ 458.03    Security Deposit: $ 500.00 [Me] I shouldn't need to pay a security deposit if my MF is over the buy rate [BMW] .we can submit it to bmwfs for approval.   Residual Value: $ 28,119.90 (67%)   Capitalized Cost: $ 40,500.00   DMV FEES$ 327.00 Term: 36   Lease Money Factor: 0.00240 [Me] BMW Financial's factor is 0.0020. Can we make it that? [BMW] no,also pays finance for their work.   Amount Due At Start: $ 4,120.80 [Me] Can you itemize this please. It is not adding up to me. [Neal, Chris] to follow Amount Due at Start    First Monthly Payment....... 498.11    SECURITY DEPOSIT............ 500.00    LICENSE FEE................. 327.00    ELECTRONIC FILING FEE....... 28.00    DOCUMENTATION FEE........... 45.00  Cap. Reduction Tax ......... 218.75    TAX ON DOC FEE.............. 3.94    Total Inception Fees........ 1,620.80    + Cash Cap Red.............. 2,500.00 Total Due at Start.......... 4,120.80      Total Monthly Payment: $ 498.11 [Me] Seems like monthly payment could be much lower, even when including tax [BMW] it is what it is!!!   THE END   Thanks,   D Replies to this message: Car_man (Feb 23, 2007 4:07 am)
#400 of 723 Re: BMW x3 Feb leasing [rxgal74] by Car_man HOST Feb 23, 2007 (3:43 am)
Replying to: rxgal74 (Feb 11, 2007 8:34 am) Welcome rxgal74. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.   The money factor that you were quoted for the X3 that you are interested in is way too high. BMW Financial Services' current buy rate lease money factor for the 2007 X3 is .00200. The dealer that you are working with is trying to mark your truck's money factor up quite a bit to add additional hidden, back-end profit to your deal.   You never mentioned the selling price of the X3 that you are interested in. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing what this truck's selling price is, it is difficult to tell how much of a discount you are being given. Make sure to find this number out and that it is reasonable before finalizing your deal. It might now be a bad idea to comparison shop with a few dealers.   Car_man Host Prices Paid Forum
#401 of 723 Re: BMW X3 3.0 Lease Question - Cincinnati [kevin88gt] by Car_man HOST Feb 23, 2007 (3:45 am)
Replying to: kevin88gt (Feb 11, 2007 8:37 am) Yes, kevin88gt, you can roll BMW Financial Services' acquisition fee into your vehicle's capitalized cost if you want to. I believe that BMW Financial Services will also waive its acquisition fee completely in exchange for an increase of .00035 in the money factor that is used to calculate your vehicle's monthly payment.   Car_man Host Prices Paid Forum
#402 of 723 Re: 2007 X3 Lease: Deal or No Deal? [ninabeemer] by Car_man HOST Feb 23, 2007 (3:50 am)
Replying to: ninabeemer (Feb 20, 2007 3:44 pm) Thanks ninabeemer . $1,000 over dealer invoice is a reasonable price for a 2007 BMW X3, especially for an ordered one, but the money factor that is being used to calculate your truck's lease payment is a little high. BMW Financial Services current buy rate for a 36 month lease of an '07 X3 is currently .00200 with the payment of a security deposit at lease signing and .00215 with the deposit waived. It appears as though the dealer that you are working with is attempting to mark your truck's money factor up to add additional hidden profit to your deal. Likewise, they are trying to mark up BMW FS' base acquisition fee of $625. Make sure to get them to use the buy rate money factor and base acquisition fee. If they won't, you can always shop around to see if another dealer in your area will.   Car_man Host Prices Paid Forum Replies to this message: ninabeemer (Feb 23, 2007 7:37 am) Car_man (Mar 04, 2007 10:59 am)
#403 of 723 Re: BMW Financial Question on New Lease Negative Trade [susanj92009] by Car_man HOST Feb 23, 2007 (3:55 am)
Replying to: susanj92009 (Feb 20, 2007 3:54 pm) Hi susanj92009. I believe that the maximum amount that can be financed on a leased vehicle is based upon a percentage of the MSRP of the vehicle that is being leased. I'm not sure where BMW Financial Services caps the capitalized cost, but it is probably somewhere around 105% of MSRP or so. Perhaps someone else out there can provide a little more insight on this subject.   BMW Financial Services' base lease acquisition fee is $625. Its current buy rate lease money factor and residual value for a 36 month lease of a 2007 BMW X3 with 12,000 miles per year are .00200 and 67%, respectively.   Car_man Host Prices Paid Forum
#404 of 723 Re: BMW Financial Lease on 2007 X3 [lwv] by Car_man HOST Feb 23, 2007 (3:57 am)
Replying to: lwv (Feb 20, 2007 6:47 pm) Hi lwv. Let's crunch some numbers and see what sort of payment we come up with. According to my calculations, if you were to lease a 2007 BMW X3 that has an MSRP of $46,620 and a capitalized cost of $47,066 through BMW Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $597.   Car_man Host Prices Paid Forum Replies to this message: jcinvestments (Mar 01, 2007 6:09 pm) Car_man (Mar 05, 2007 2:38 am)
#405 of 723 Re: X3 Lease Question--18k miles [btshudy] by Car_man HOST Feb 23, 2007 (4:01 am)
Replying to: btshudy (Feb 21, 2007 5:54 pm) I'm glad that you enjoy this forum so much, btshudy. If you are in an area that has a decent level of competition, there is a decent chance that you will be able to negotiate a lower selling price than the one that you were quoted. Make sure to stop by the following discussion to see how much other community members have paid for similar trucks lately: "BMW X3: Prices Paid & Buying Experience". Furthermore, the money factor that the dealer is using to calculate your truck's lease payment is a little high. BMW FS' buy rate lease money factor for a 24 month lease of an '07 X3 is currently .00200. Make sure that the dealer you are working with uses this factor to calculate your truck's monthly payment.   Car_man Host Prices Paid Forum
#406 of 723 Re: X3 lease offered to me - think it stinks [buzzbomb999] by Car_man HOST Feb 23, 2007 (4:07 am)
Replying to: buzzbomb999 (Feb 22, 2007 8:42 pm) Hi buzzbomb999. In a competitive marketplace like California, I think that you can do better than this. You aren't being given much of a discount on this truck AND the dealer is marking up both your acquisition fee and money factor. Try shopping around to see if you can do better than this.   Car_man Host Prices Paid Forum
#407 of 723 Re: 2007 X3 Lease: Deal or No Deal? [Car_man] by ninabeemer Feb 23, 2007 (7:37 am)
Replying to: Car_man (Feb 23, 2007 3:50 am) Thanks, Car Man. Insightful as always. I agree, it sounds like this dealership is trying to mark-up everything. I'll let everyone know what the final deal comes to. See ya. Replies to this message: Car_man (Mar 04, 2007 10:59 am)
#408 of 723 X3 Lease Offer Revised by buzzbomb999 Feb 23, 2007 (9:56 am)
Thanks for your help. I love this site.   Different dealer came back to me. They were high before too. How is this:   2007 X3, metallic paint, premium package, privacy glass:   MSRP: $41,970 Sell: $39,400 Invoice: Somewhere between $38,635 and $39,000. Don't know what invoice for metallic paint is.   36 month lease 12k miles per year Trade in my old old old 540 for $2500 cap reduction. $725 acquisition fee MF = 0.00215 (no security deposit) Monthly payment with 8.5% tax is $480   Is it better to make a $500 security deposit and get the MF of 0.002 or no deposit with 0.00215?   Should I take it?   Thanks,   D Replies to this message: Car_man (Mar 04, 2007 11:02 am)

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