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BMW X5, Car Leasing, SUV
#1 of 2373 BMW X5: Lease Questions
Aug 31, 2005 (2:15 am)
Hi everyone. Please use the following discussion to post any questions that you have about leasing a BMW X5. Thanks.
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#2 of 2373 Sept. lease numbers?
Sep 07, 2005 (2:48 pm)
Just got back from the dealer. They told me the following info.
Money factor: .0012
I calculated this against the lease special of $459/mo on a $43670 X5 listed on bmwusa.com and came within $10 per month. None of these numbers reflect the $5000 dealer cash I've seen mentioned.
My question is, with the $5000 dealer cash from BMW, how much off MSRP should I be shooting for now? We are looking at an X5 3.0 Auto with Prem, CW, Rear Climate, Xenons and Nav., MSRP $52020.
Also, should I expect to get better discounts if I want to get the X5 and an 06 330i at the same time?
Thanks in advance for the help.
#3 of 2373 Short term lease, X5
Sep 08, 2005 (4:47 am)
Morning Car Man,
Looking for money factor and Residual for X5s, both 3.0 and 4.4.
24 and 30 months
Also, want to know if current marketing support can be used with leases.
Thanks in advance.
#4 of 2373 Re: Sept. lease numbers? [tpjcourtney]
Sep 08, 2005 (7:58 am)
Here's how I derived the $459 figure:
MSRP = $43,670
Sales price = $39,770 (you pay $2,500 upfront plus they discount the car $1,400)
Residual = 57% ($43,670 X 0.57 = $24,892)
Money factor = 0.0012
Payment is $459.08 plus tax
The residual value is given in the ad (36 mos 10K miles) - I don't know what the money factor is for September but it was 0.00075 in August. Of course BMW dealers are known for bumping up their money factors so I would wait until I know what the officila money factor is.
#5 of 2373 Re: Sept. lease numbers? [drtravel]
Sep 08, 2005 (8:38 am)
Don't know what I was on but when I re-looked at the ad I saw the residual you were looking at. My dealer was knocking 3% off the residual.
I think if you recompute, you'll find that it is both $2500 down and a $2500 discount off MSRP. Using those numbers with 57% res. and .0012 MF I hit $459 to the penny. No other fees included.
At least I know what I'm dealing with now. Thanks drtravel for your insight.
Still, the big question is, what kind of discount should I be looking for overall with the $5000 dealer cash. Looks like edmunds TMV is about $6k off MSRP. If BMW is giving up $5k of that then the dealer is still making 3k over invoice on an end of year car. That seems like a lot since people aren't paying that for 06 330i's.
#6 of 2373 Re: Sept. lease numbers? [tpjcourtney]
Sep 08, 2005 (12:08 pm)
Right you are about the second $2,500 off. I also came up with exactly $459. Too much Mountain Dew but at least together we have the math figured out. The invoice for the 43,670 MSRP is 40,030 less 5,000 equals 35,030 - so the dealer is still making $3,640 on the deal.
Think about it this way the dealer is getting $5,000 from BMW but is only discounting the car $2,500 - looks sweet to the dealer. I say you should be able to get the lease deal without putting down any money - that way BMW is actually subsidizing the money factor instead of making the customer pay more upfront to cover their lost interest.
#7 of 2373 Re: Sept. lease numbers? [drtravel]
Sep 09, 2005 (11:41 am)
Here is the real numbers. I was wrong the 2nd time too.
They get the $459/mo figures the following way.
Selling price $37870 ($5000 bmw cash + $800 dealer)
Down pmt. $2500
Residual 57% or $24892 (for 10k/yr, 54% for 15k)
Money Factor .0028 (same as 6.72% interest!!!)
The .0012 lease rate was last month and is now more than double. The dealer I talked with was only willing to add another 475 off to to the numbers above for a total of $6275 off MSRP. A total lease price before TTL of $439/mo. on a X5 3.0 w/auto.
The car we wanted with premium, cw, climate, nav, xenon & sd mirrors with an MSRP of $51370 gives a pmt of $673 w/o TTL using the above numbers. Much different than the $500/mo. the last senario brought me to.
Hope this helps someone, I doubt we'll be buying one at that lease rate.
#8 of 2373 Re: Sept. lease numbers? [tpjcourtney]
Sep 09, 2005 (3:33 pm)
I just wish the manufacturers would actually put this info in their ads instead of just touting the the monthly payment. Everything else that is financed has to state their APR, why not leases?
Thanks for the numbers. I agree it doesn't make sense to lease this vehicle.
#9 of 2373 Realistic Lease price.
Sep 09, 2005 (4:58 pm)
Can anyone let me know what a good lease rate on an X5 3.0 with premium/auto for 24months and 15k/y would be?. And is it better to wait till years end? Also I was told last month was a much better deal and they no longer lease 05's. Any help would be appreciated. If anyone knows of any good 24m/15k leases on a nice car if you can let me know.
#10 of 2373 Re: Sept. lease numbers? [tpjcourtney]
Sep 10, 2005 (9:39 am)
Here's a deal advertised in the LA Times (Century West BMW)
2005 X5 3.0 - lease for $396 + tax 36mo/30K
MSRP of $45,020, selling price of $37,532 ($7,488 of MSRP), cap reduction of $3,000 so total cap cost is $34,532
Using 57% residual and 0.0028 money factor I come up with a payment of $414.95. Not sure how they calculated the $396. Total drive off is $5,168 whcih includes $3,000 cap reduction, $450 security deposit, $625 acquistion, $396 first month payment and $697 of something else - maybe additional cap reduction?