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Prices Paid: Buying & Leasing Experiences BMW X5 Lease Questions
1118 messages, Last post on Dec 07, 2009 at 11:03 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Just got back from the dealer. They told me the following info. 3.0 X5 Money factor: .0012 Residual: 54% 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.
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Morning Car Man, Looking for money factor and Residual for X5s, both 3.0 and 4.4. 24 and 30 months 15K/year Also, want to know if current marketing support can be used with leases. Thanks in advance. |
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Replying to: tpjcourtney (Sep 07, 2005 2:48 pm) 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.
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Replying to: drtravel (Sep 08, 2005 7:58 am) 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.
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Replying to: tpjcourtney (Sep 08, 2005 8:38 am) 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.
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Replying to: drtravel (Sep 08, 2005 12:08 pm) They get the $459/mo figures the following way. MSRP $43670 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.
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Replying to: tpjcourtney (Sep 09, 2005 11:41 am) Thanks for the numbers. I agree it doesn't make sense to lease this vehicle. |
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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. Thanks! -Jay |
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Replying to: tpjcourtney (Sep 09, 2005 11:41 am) 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?
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Replying to: drtravel (Sep 10, 2005 9:39 am) With the additional $697 it comes to $394/mo according to my calculations. I got the same $415 as you did without that. Strange they would mention the selling cost and the 3000 down pmt, but not put the 697 anywhere in the ad. If they are expecting the purchaser to put the additional money down they have to call out what it is, don't they? Other wise it looks like the same 36mo, 10k/yr lease that I was talking about. Even with $7488 off, the money factor of .0028 (or 6.7% interest) is killing any chance of me leasing an X5. But since the local dealers have an average of about 5-7 05's on the lot right now, they are not worried about it.
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