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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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out sometimes... When we leased our 2007 X3 back in July of 2007, the residual value at the end of our lease is 65% after 3 years. 75% if we would have taken a 2 year lease. Things were much different back then. |
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Hello...I am trying to find out if BMW is still offering an early lease termination special for X3's for June 2009. My understanding was that in May BMW was offering to waive the final 3 months payments if you leased a new BMW (ie, a pull-ahead program). Any information would be appreciated.
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Replying to: johnpatrick3 (Jun 08, 2009 8:45 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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I have a 2007 X3 that comes off a 36 month lease next month. I just received my end of lease options from BMW Finance. My current monthly payment is $428/month, risidual buyout is approx $30,000. If I want to extend my lease for 1 year the monthly payments are $1149/month. If I want to buy the car my monthly payments for 60 months are $609/mo at 6.4% financing. Has anyone else experienced this from BMW?. It is not exactly a "customer retention" program. I like the X3 and would like something similar at around the same monthly lease payment. Does anyone have any suggestions? |
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Replying to: biggd (Oct 01, 2009 11:37 am) What the heck was on your car that you would have such a high residual after 3 years of payments? I have never leased anything - buy outright - so I am wondering why your used car would be worth $1200 - the price of a moderately sized mortgage. I would say to forget the blooming car, get a new one at a better price from a better manufacturer and put the remainder toward a mortgage on an asset that has a decent price of appreciating. Just my two cents.
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Replying to: pp2009pp (Oct 01, 2009 12:02 pm)
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Replying to: biggd (Oct 01, 2009 12:17 pm) The difference in 60 months between your 'used' car rate and the 'new' car rate is about $75/month. The same monthly payment buys you a $34,000 new car...if you financed the entire thing. Check the math though using a loan calculator. I'm just plugging in the numbers you have plus you have to add in the full warranty of the new car...not entirely sure what that is worth but it is worth something especially on cars with average reliability. http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx I would take a look at other cars and deals out there. My two cents. |
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Replying to: biggd (Oct 01, 2009 11:37 am) 2) Contact BMWFS... Tell them you might be interested in purchasing your car, but nowhere near that inflated residual... ask them to give you a realistic price, and you might consider it... Sometimes, they'll drop the residual... sometimes not.. 3) If 2) doesn't work.... contact your dealer, and tell them the same thing.. You might be interested in purchasing your car, but not at that price... Can you save me a substantial amount? BMWFS will sell the car to the dealer for the MMR (auction) price. They'll mark it up to make a profit (the key is:how much), but you should be able to get it cheaper.. 4) If all else fails, do not buy the car for the residual... You got a great lease deal because of that unrealistic residual.. If you buy the car for that amount, you give your great deal back to BMWFS... Good luck! kyfdx Host-Prices Paid Forums |
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What about a used  instead? I would, of course, say RUN far, far away but what about a used one instead? This idiotic car is at the end of its run anyway and they will start manufacturing them in NC instead of in an Austrian OEM plant. Drive a cheapo used one for a few years and see what comes up next. I don't know if this is a good bet but will they actually bother to fix the ride and the transmission problems? Maybe they will revert back to the 5 speed transmission or, heck, maybe not. At any rate, why take the risk? |
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