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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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I turned in a 525i last August; was told I'd have 12 months to return and get a break. I did so and was told, no it is 6-months. I calculated the current X3 lease special offer on the BMW website to be a money factor closer to .00150, but am certain my math could be bad even with the lease calculator. My visit to the dealer was over a 2007 X3 with various packages in NM. The dealer quoted me an MSRP ~$43,500 and residual was ~$29,500. On a 36-month, 12K miles, $2500 down, they quoted $579/mo. I was taken back thinking I could do better. Near as I can tell that results in a money factor much more than .00215 (again, I don't get along with numbers). When I returned home and did some calculation I am figuring that I should be able to negotiate pricing down to ~$41K or so. I also figure I can argue the .00150 as a returning lease customer where I was originally told I had 12 months. Based on those figures and my "lease calculator" entries I get my monthly down to ~$380. The salesperson told me that the lease monthly payment does not vary much based on vehicle without options and those with. I tend to think that is wrong. They also said that the residual is based on MSRP (so then the difference financed remains fairly consistent) and why the previous statement was true. Therefore I should take that to mean that the lease payment should not vary that much between models with or without options. As I mentioned I am not sure that is accurate. I would appreciate comments on negotiating the money factor, arguing for the returning lease customer discount. It would also be good to hear comments on comparing their offer to the online lease "special deal" on the BMW website. Finally, should I be negotiating on a vehicle with less options if I frankly don't need them to get the pricing down considerably. I was surprised to see that their quote of $579/mo was almost $200 more than my calculation -- almost insulting. What I do know about numbers is an extra $7200 is a bad deal. Cheers.
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Replying to: nmkev (Aug 31, 2007 5:44 pm) As far as your other questions... 1) You have those money factors down pretty well... .00215 is the base rate for new customers. Current customers can get .0015. The difference between those two numbers on an average lease is about $43/mo. 2) Models with higher MSRPs are certainly more expensive to lease than lower MSRP models. The difference is not hard to figure... On zero-down leases, the prices should track the MSRP relatively closely.. So, if a $40K unit has a lease price of $500/mo., the a $44K unit should have a lease price of around $550/mo. 3) The BMW website is relatively useless, as far as computing real-world lease pricing. It pretty much ignores any lease specials. 4) Your current lease is the real wild card. I don't think the dealer can get you out of it, without taking it in trade, and that might involve some serious negative equity. 5) Dealers can mark-up money factors and acquisition fees for extra profit. Dealers usually don't like to get into the specifics of calculating the lease, so you can't see what you are actually paying for the car. You can probably get into a $43K X3 for around $500/mo., pre-tax, with all costs rolled in, other than the 1st payment and TTL. That is a very good deal, but you'll probably have to shop around and work for it. regards, kyfdx Host-Prices Paid Forums
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Replying to: kyfdx (Sep 01, 2007 6:57 am) Now what I learned on passing back to them my justification for the returning/existing customer money factor of .0015. The response I got was that their buy rate for existing customers is .0015 and then their sell rate is .00255 for existing customers. So the best deal they could work was still higher than my calculations were, significantly in my opinion, for a lesser equipped vehicle (and more down and 10K miles). The manager agreed to argue for giving me the existing customer rate. Since there is zero competition in this state for them I am certain they will eventually get the money they are holding out for, just not from me. Still not sure I understand the negotiation parameters on a lease in any detail, but have learned some through this forum.
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Replying to: nmkev (Sep 03, 2007 7:32 am) If the buy rate for new customers is .00215... the maximum sell rate for them is .00255 So, as you can see... again, they are being untruthful. If you were truly eligible for the existing customer money factor, there is no way they could mark it up to .00255. Whether you are eligible or not, I can't say. But, it seems your dealer will say just about anything. Good luck, kyfdx
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Does anyone know what the numbers might be for a CPO lease? looking at maybe an 04 or 05 X3 with 30k or so miles. Thanks, |
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Replying to: kyfdx (Sep 03, 2007 6:23 pm) |
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Replying to: Car_man (Aug 24, 2007 1:43 am) I'm new here and just got the quote for leasing 2007 x3 2007 X3 3.0si Jet black Black leatherette Steptronic auto transmission Privacy glass 36 month lease 10k miles/yr $3,990 driveoff $359.92 + tax = $389.61/mo Do you think it's a good deal? I have 2004 325i at the endo f lease term (9/30) and thinking to lease the 2007 x3, if it's not a very good deal, anyone have any idea on the 2008? Really need ur help Thanks a lot |
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Replying to: kyfdx (Sep 18, 2005 5:29 am) I'm new here and just got the quote for leasing 2007 x3 2007 X3 3.0si Jet black Black leatherette Steptronic auto transmission Privacy glass 36 month lease 10k miles/yr $3,990 driveoff $359.92 + tax = $389.61/mo Do you think it's a good deal? I have 2004 325i at the endo f lease term (9/30) and thinking to lease the 2007 x3, if it's not a very good deal, anyone have any idea on the 2008? Really need ur help
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Replying to: ckung (Sep 21, 2007 2:33 pm) Hope that helps
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Replying to: fieldsransom (Sep 23, 2007 5:19 pm) Thanks. Do you mind to tell me what was ur msrp, % of residual and Money Factor on the X3 u leased? btw, where u located at ? thanks
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