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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

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

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#96 of 723 Re: Lease X3 in NY [mnovodvor] by kyfdx HOST Feb 09, 2006 (8:09 am)
Replying to: mnovodvor (Feb 09, 2006 5:37 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 723 Joe, New York by josephalvarado Feb 14, 2006 (4:51 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 723 Gap insurance/payoff question by billmv Feb 17, 2006 (12:12 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.
#100 of 723 anybody every try a direct autoleasing website? by tpcleary Feb 21, 2006 (6:58 am)
Sorry about the previous blank message.   Anybody every try one of the free lease quote sites? This one is attached to a site selling lease analyzing software. http://www.autoleasingsoftware.com/cgi-bin/aldpartner.pl?aldcbt   Wanted to see if anyone had any experience. might just try them to see. Thanks, Tom. Replies to this message: krumpitz (Feb 24, 2006 11:01 am)
#101 of 723 Difference between "Buy Rate" and "Money Factor" by emilyk3 Feb 23, 2006 (4:43 pm)
Car_man, I've been talking to a few dealers about leasing the 2006 x3. They keep quoting a money factor of .00165 indicating it is based on a "buy rate" of .00125.   What is the difference between the two? Or, is one just the rate from BWM and the other the rate after their markup?   Does the dealer have the option of reducing/eliminating the markup on the "buy rate"? (i.e. is it a negotiation point).   Also, they all keep quoting me an acquisition fee of $825 (vs the $625 I've seen here) and one dealer quoted a 60% residual on a 36mo/30K mile lease (even after I asked why it wasn't 63% as quote on the board...his response was "BWM has one of the highest residual values" so if feels like I'm getting the runaround).   Any input regarding how to get the dealer down to the "buy rate" and higher residual value would be greatly appreciated!   Thanks for your help! Replies to this message: kyfdx (Feb 23, 2006 4:48 pm)
#102 of 723 Re: Difference between "Buy Rate" and "Money Factor" [emilyk3] by kyfdx HOST Feb 23, 2006 (4:48 pm)
Replying to: emilyk3 (Feb 23, 2006 4:43 pm) What is the difference between the two? Or, is one just the rate from BWM and the other the rate after their markup? Does the dealer have the option of reducing/eliminating the markup on the "buy rate"? (i.e. is it a negotiation point).   You have it exactly.. the markup is optional.. and provides more profit to the dealer. It is negotiable..   Also, they all keep quoting me an acquisition fee of $825 (vs the $625 I've seen here)   Same thing as the money factor... also negotiable..   one dealer quoted a 60% residual on a 36mo/30K mile lease (even after I asked why it wasn't 63% as quote on the board.   60% is the residual for 3yr/45K... 63% is for 3yr/30K.. They have to use the residual provided by BMWFS.. Probably just a mistake or misstatement on his part.   Any input regarding how to get the dealer down to the "buy rate"   Tell them you won't consider any lease deal that doesn't use the base rate.. otherwise, you'll shop elsewhere. (of course, you have to be willing to do that).   Hope that helps, kyfdx Host-Prices Paid Forums
#103 of 723 Re: anybody every try a direct autoleasing website? [tpcleary] by krumpitz Feb 24, 2006 (11:01 am)
Replying to: tpcleary (Feb 21, 2006 6:58 am) My experience is that http://www.leasewizard.com is a better route. Software is easier to use and they have real data to plug in like factors and residuals (in addition to ALG residuals). Just my opinion!!
#104 of 723 2-Year Lease Rates by timmboj Feb 28, 2006 (5:00 am)
I tried to calculate a 2-year lease with 15K miles per year. I used a target $42K purchase price ($40K Invoice / $44K MSRP), 70% residual and .00125 MF. Are these figures correct kydfx? I'm coming up with well over $700 a month. Am I doing something wrong? Seems like it should be less. I'm trying to figure out a decent deal before walking into the only BMW dealership in my town. Replies to this message: kyfdx (Feb 28, 2006 6:56 pm)
#105 of 723 3 years rate at $450 monthly payment by urmahhero Feb 28, 2006 (6:18 pm)
I just came back from a dealership. It's a 2006 3.0i. It has Premium package, Navigation system, heated front seat, privacy windows, and come in the color silver. I didn't know any better but the guy based on the MSRP price during our negotiation and not what the selling price would be. He asked for $3250 down payment and monthly payment of $450 for 12K miles/year for 36 months(he came down from $518 monthly payment initially). I thought the final offer was a great deal but my brother thought otherwise. Just want to know if we gave up a great deal or it was wise that we walked away. Any immediate thought would be greatly appreciated. Thanks! Replies to this message: kyfdx (Feb 28, 2006 6:57 pm)

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