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BMW X3 Lease Questions

648 messages,  Last post on Oct 15, 2008 at 6:30 AM

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

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#90 of 648 Re: February lease terms anyone? [fogdogpd] by mariab Feb 05, 2006 (5:49 pm)
Replying to: fogdogpd (Feb 05, 2006 10:35 am) Wish I could help...I'm looking too. My salesperson is reluctant to reveal anything and I'm getting irritated. I think I am getting a reasonable deal, but her attitude is turning me away. All she will tell me is my total payment and the Purchase price, no down payment, no 1st payment, No deposit. The purchase price includes a navigation system I don't want and she has told me I won't have to pay for because it's the only one they have that has all of my other options. That tells me she is not so honest. I have sent her an email asking for all of the specifics but not sure what to watch for in her response. I am looking for 36mos/15K/PremiumPackage.   Also, what is the "Prepay amount" that they did specify in the info sheet she gave me? Replies to this message: Car_man (Feb 09, 2006 4:01 am)
#91 of 648 Re: February lease terms anyone? [fogdogpd] by jaydeepb Feb 07, 2006 (2:04 pm)
Replying to: fogdogpd (Feb 05, 2006 10:35 am) Hey there,   I moved from a 2002 325Ci Coupe to a 2005 X3 3.0 last year after my lease was over. Considering I had the Sports Package on the 325 I still like the ride of the X3. It handles very well for its height, it has more interior space, and the huge sunroof is great.   I don't know if the 2006 received an upgrade to the interior or not but it is not as good as the 3.   If you want to know more let me know.   JD
#92 of 648 Re: Lease X3 in NY [mnovodvor] by Car_man HOST Feb 09, 2006 (3:51 am)
Replying to: mnovodvor (Jan 24, 2006 9:33 pm) Hi Michael. You never mentioned the selling price of the X3 that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to work give you my opinion on this deal if you let me know what its selling price is.   Generally speaking, dealers usually prefer to sell vehicles that they already have in stock to ordering them. The logic behind this is that when they sell a unit that they already have, they can stop paying floorplan interest on it. Plus, a lot can happen between the time that a consumer orders a vehicle and they take delivery of it. If you drive off in something that is in stock, they know that you won't back out of the deal like you can with an order.   Car_man Host Smart Shopper / Prices Paid Forums Replies to this message: mnovodvor (Feb 09, 2006 6:37 am) kyfdx (Feb 09, 2006 9:09 am) jjota (Mar 05, 2006 7:03 pm) Car_man (Mar 07, 2006 6:01 am)
#93 of 648 Re: February lease terms anyone? [fogdogpd] by Car_man HOST Feb 09, 2006 (3:57 am)
Replying to: fogdogpd (Feb 05, 2006 10:35 am) Greetings Peter. According to the latest information that I have seen, if you were to lease a 2006 BMW X3 through BMW Financial Services for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00125 and 60%, respectively. 15,000 miles per year is the highest mileage allowance that BMW publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.   It is difficult to say what BMW's March lease program on the X3 will be like. BMW just enhanced its lease program on this truck for the month of February. If I had to make an educated guess, I would say that its lease program for it will probably be about the same next month. Again, it is tough to say what will happen for certain though. A lot of what BMW does will depend upon how its February sales turn out.   Car_man Host Smart Shopper / Prices Paid Forums
#94 of 648 Re: February lease terms anyone? [mariab] by Car_man HOST Feb 09, 2006 (4:01 am)
Replying to: mariab (Feb 05, 2006 5:49 pm) Hi mariab. Please see my previous message for the money factor and residual value information that you are interested in. I'm not sure what the "prepay amount" that was on the info sheet that you were given means. Perhaps it is the amount due at lease signing. BMW Financial Services charges lessees their vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $50 increment, a $625 lease acquisition fee, and any other required state fees or taxes at lease signing. You can have your truck's security deposit waived in exchange for an increase of .00015 in the money factor that is used to calculate its lease payment.   Car_man Host Smart Shopper / Prices Paid Forums
#95 of 648 Re: Lease X3 in NY [Car_man] by mnovodvor Feb 09, 2006 (6:37 am)
Replying to: Car_man (Feb 09, 2006 3:51 am) Car_man, thank you for reply; I see what you are saying The selling price quoted was 39,800. So:X3 White/Terracotta 2006 Premium Package, Heated Seats, Privacy Glass The MSRP comes to $40,220 ; Selling Price 39,800 The lease I was quoted was 36 motnth/10,000 $495 per month before taxes 0 down $3,495 due at signing ( including 8.25% NY sales tax)   This seem high to me especially with this month deal; what is reasonable monthly payment I can bargaain for?   thank you michael Replies to this message: kyfdx (Feb 09, 2006 9:09 am)
#96 of 648 Re: Lease X3 in NY [mnovodvor] by kyfdx HOST Feb 09, 2006 (9:09 am)
Replying to: mnovodvor (Feb 09, 2006 6:37 am) My first reaction to your deal is that you aren't getting nearly enough off of the MSRP... $420 discount... A decent deal would be at least $1000-$1500 less.. Which would equate to a payment that is $30-$45 lower per month...   regards, kyfdx Host-Prices Paid Forums
#97 of 648 Joe, New York by josephalvarado Feb 14, 2006 (5:51 pm)
After much research on the internet and e-mails to BMW car dealers, I got the following written lease information on a X3 2006 premium pkg, black exterior and light leather interior. $299.00 for 24 months with $4,500 down. The $4,500 includes first month's payment and $625.00 acq. fee. Sales tax of $977.83,$45.00 Doc fee and $10.00 inspection fee are extra. The lease is for 12,000 miles per year, two year and .20 per extra mile. Total amount due at inception, $5,844.31 Total cost $12,721.31. Is this a good deal?
#98 of 648 Gap insurance/payoff question by billmv Feb 17, 2006 (1:12 pm)
CarMan   In a prior post of yours you made the following statement: "...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..." The implication is that the lessee's obligation to the bank/lessor is then extinguished, and everybody walks away with no further obligation on the part of the lessee.   I have always operated under the impression that my insurance company would pay me the value of the vehicle at the time it was stolen, and then I would have to settle up with the lessor, which may or may not fully satisfy my obligation under the lease. The fact that they will pay off the BALANCE of the lease is surprising. Since the value of a vehicle theoretically drops most quickly right after the vehicle is sold, doesn't that put the insurance company in the position of potentially having to pay more to a lessor than they would if they had to pay someone who owned their vehicle free and clear, if the theft occurred early in the lease, rather than toward the end, when the balance owed and the value converge? I just can't believe they would take this additional exposure on willingly.   I don't know how the lessors compute the remaining balance on their leases at any given point in time, but if it's anything like a normal loan payoff there would definitely be a gap between the balance owed and the value of the vehicle. So you pay a little extra for "gap insurance" if it's not already built in to the lease rate to protect against just this situation.   My wife leased her car through a private leasing company, and they passed the bank's gap insurance fee ($125) through to her (at no markup, unlike the Mercedes dealer would have done if she had leased through them).   Can you enlighten us all on this, please? Is this something that BMW FS agrees to do (take the amount offered by the insurance company) that is different from other lessors?   Thanks! By the way, great intel on MFs, promotions, timing and other nuances of how to tailor a BMW lease to your needs.

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