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Prices Paid: Buying & Leasing Experiences BMW X3: Lease Questions
632 messages, Last post on Aug 28, 2008 at 2:38 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Where's this recession I've been hearing so much about? Leased an X3 with CT Tax included in November on a $44,250.00 MSRP for $418/mo with $1806 out the door. 10K miles yr/ 24mo lease. Now getting a similarly spec'd out X3, even from a Jersey dealer seems to be running in the $490. range with similar out the door costs. What has changed? Are the residuals now more realistic? Anybody have any experience with BMW Finance extending the 24month leases an additional year at lease end? |
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Shocked to receive letter from GM offering me $2,000 to pay off my X3 lease if I buy a GM product. Week later receive letter fom local GM dealer "assist me in paying off remaining lease payments incl early termination." I thought BMW Finance was private - how did GM do this?
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Replying to: heinzer (May 12, 2008 8:42 am) My guess? State DMV records are public. They look for vehicles owned by BMW FS, and then send a letter to the person/address under who the vehicle is registered. I'm positive they didn't get the info from BMW. |
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Replying to: heinzer (May 12, 2008 8:42 am) |
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I just started my search and negotiations for a new 2008 X3. I plan to lease the vehicle for 24 or 36 months. Below is the quote I received from a local dealership. When I run the numbers through an on-line lease calculator, the payments come out about the same (i.e., $639) vs. $641. However, the on-line calculator monthly payment is inclusive of taxes. The the dealership's quote is $641 + $53 taxes for a monthly payment of $694. What am I missing? What is causing this $54 per month difference. Also, the money factor seems unusually high (7.18%). I am a first time BMW customer. However, I have great credit. Any advise? Before I start negotiating price and such, I really need to understand how to calculate the lease payments. Are they hiding fees or trying to over charge me for the vehicle?  Offer Lease for 3 years and 10,000 miles per year 2008 BMW X3, $1,195 total cash including drive-off, $641 per month plus tax.* MSRP is $47,600 - our prefered Internet price $44,989 plus tax and fees* Silver Gray Metallic Exterior Gray Nevada Leather Sport package Premium Package Steptronic Automatic Transmission Heated front Seats Xenon Headlights Navigation System Privacy Glass Dark Ash Wood Trim Panoramic Moonroof *Offer on approved credit, valid through Internet Sales Only until 5/31/2008. The money factor used is .00299. The residual value is 65% or $30,940. I live in LA, California. The sales tax is 8.25%
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Marking up the money factor on you. The base MF for an X3 for a 15,000 mile per year lease is .0025
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Replying to: nyccarguy (May 18, 2008 6:08 pm)
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Replying to: afinner (May 04, 2008 5:36 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: justwntd2know (May 18, 2008 1:28 pm) The two most important numbers to focus on when negotiating a lease are your vehicle's selling price and its money factor. These are the two main profit centers for dealers. Shop around and negotiate the lowest possible selling price on the X3 that you want. I would not be surprised if you were able to negotiate a price that's fairly close to dealer invoice in the ultra-competitive Southern California market. Once you have a price that you are comfortable with, have the dealer calculate your truck's monthly payment using BMW FS' buy rate lease money factor of .00240 (with the payment of a security deposit at lease signing). Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: justwntd2know (May 19, 2008 8:16 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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