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BMW X5 Lease Questions

2262 messages,  Last post on May 19, 2013 at 9:01 AM

You are in the Prices Paid - Buying & Leasing Experiences Forum.

What is this discussion about? BMW X5, Car Leasing, SUV

Messages Page 103 of 227

#1014 of 2262 Re: X5 lease help [yz1281] by Car_man HOST

Jul 06, 2009 (2:50 am)

Replying to: yz1281 (Jul 02, 2009 4:39 pm)
Hi yz1281. BMW Financial Services' July buy rate lease money factor and residual value for a 36 month lease of a 2009 X5 3 with 15,000 miles per year are .00180 and 55%, respectively. A money factor of .00180 is equivalent to an interest rate of around 4.3%. I wonder if the dealer quoted you a balloon note on this truck. Given the fact that you are in Texas it would not surprise me.
 
Dealers do not usually tack on an explicit charge for swapping for a vehicle, but don't expect to get the best possible deal on one that the dealer has to go out and get. Dealers would much rather sell you something that they have in stock.
 
Unfortunately, lessees do not get any credit for unused mileage.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#1015 of 2262 Re: Leasing 09 BMW X5 [rahulskh] by Car_man HOST

Jul 06, 2009 (2:58 am)

Replying to: rahulskh (Jul 05, 2009 9:01 am)
No problem rahulskh. While many banks' money factors vary by credit score, BMW Financial Services uses what one might call a pass / fail system. Either a lessee qualifies for its best available money factors or they cannot lease through them at all. BMW Financial Services' July buy rate lease money factor for an '09 X5 3.0i is .00180 for returning BMW FS customers or new ones who opt to pay a security deposit at lease signing. BMW will waive its security deposit requirement for new customers in exchange for a .00015 money factor increase.
 
Dealers are often allowed to mark vehicles' money factors up, and BMW dealers are notorious for doing so. Savvy customers who are in an area that has a decent level of competition can usually convince dealers to use the buy rate to calculate their monthly payment.
 
Typically 36 month leases provide much lower monthly payments than 24 month leases. This is because new vehicles experience their most rapid depreciation hit during the first year of ownership. Thirty-six month leases have an extra twelve payments to spread out this large initial depreciation hit out over.
 
I don't know exactly when the 2010 X5 is scheduled to arrive at dealers. When the 2010s do begin to arrive, I suspect that you will be able to negotiate a selling price that's fairly close to dealer invoice, perhaps a couple hundred dollars over, minus any available cash incentives on a leftover '09 model.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#1016 of 2262 Re: X5 lease help [yz1281] by yz1281

Jul 06, 2009 (4:07 am)

Replying to: yz1281 (Jul 02, 2009 4:39 pm)
thanks for the reply car man.
 
So what is a good negotiated sales price on an x5 that has a Msrp of approx, 58K ?

#1017 of 2262 X5 Diesel lease Deals by nycbmw

Jul 11, 2009 (5:24 am)

Just started lease search for x5 diesel.
first try:
Premium Pkg., Cold Weather Pkg., Rear Climate Pkg. & Ipod Adapter.36 Months, 12,000 miles. $0 down as cap cost. The payment is $729.99 including tax with $2799.00 due at inception this includes the First Month, Motor Vehicle Charges, The Bank Acquisition fee,.dealer conveyance & $799 Security Deposit.
 
what i can figure is MSRP is $57975 and Invoice is $53,350.
 
This initial quote is pretty awful i think. any comments?
 
ps. sales tax here is ~6%
 
Thanks

#1018 of 2262 money factor changes by dpeck1

Jul 13, 2009 (10:16 am)

Carman:
 
I have been holding off ordering an X5 for lease. The MF is .0018, (4.32%). Do you think BMW will lower that rate come August? Thanks.
 
DP

#1019 of 2262 Re: X5 lease help [yz1281] by Car_man HOST

Jul 15, 2009 (3:45 am)

Replying to: yz1281 (Jul 06, 2009 4:07 am)
You're welcome, yz1281. I am not personally intimately familiar with what the market is like for the X5 right now, but if I was interested in getting one I would shop around and aim for $500 to $750 over dealer invoice. You can look up the invoice price of the exact truck that you want over in the New Vehicle Pricing section of this site.
 
Make sure to stop by the "BMW X5 Prices Paid and Buying Experience" discussion for additional feedback on how much you should pay for this truck right now.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#1020 of 2262 Re: money factor changes [dpeck1] by Car_man HOST

Jul 15, 2009 (3:49 am)

Replying to: dpeck1 (Jul 13, 2009 10:16 am)
Hey dpeck1. BMW's current lease program is scheduled to run through July 31st. Normally I would say that there isn't much harm in waiting to see if the program gets better because incentives traditionally improve as the model year progresses. However, many potential Honda buyers were recently burned by doing just that. Honda had all sorts of dealer cash and lease incentives on trucks in June that it completely pulled the plug on in July.
 
Apparently, the recession caused Honda to slow its production dramatically. As a result, its inventory situation is low enough that it didn't feel the need to provide support on trucks right now.
 
If I had to make an educated guess, I would say that BMW's August lease program will be at least as good as its current one...but in this environment it is difficult to say what will happen for certain.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#1021 of 2262 Re: X5 lease help [Car_man] by anon3

Jul 31, 2009 (10:17 am)

Replying to: Car_man (Jul 15, 2009 3:45 am)
The other factor that can influence X5 purchase/lease decision is the $1,800 tax credit for the X5 diesel (in addition to the $4,500 cash assistance from BMW through August 31).
 
BMW will tell you that leased X5 diesels are NOT eligible for the $1,800 tax credit. I asked my sales person to research this with BMW North America and they provided paperwork that confirms BMW's statement. BMW's web site also says that a leased X5 3.5d is not eligible for the tax credit.
  
However, the IRS says different: "For a taxpayer to claim the credit, the original use of the vehicle must begin with the taxpayer and the vehicle must be acquired for use or lease by the taxpayer and not for resale." This statement is from the IRS bulletin for Qualified Advanced Lean-Burn Technology Vehicles that identifies the X5 diesel as being eligible for the tax credit. Fueleconomy.gov has similar language and refers to the IRS bulletin.
  
So if this IRS statement can be taken at face value, BMW is point blank wrong that a taxpayer can't claim the tax credit after leasing a diesel X5. However, BMW will also tell you that claiming the tax credit is up to the tax payer, so they're not stopping you from claiming it.

#1022 of 2262 Leasees do NOT qualify by misterep

Jul 31, 2009 (12:20 pm)

Replying to: anon3 (Jul 31, 2009 10:17 am)
What if I Lease a Car That Qualifies for This Credit?
 
Lessees are not eligible to claim a tax credit. The leasing party — say, a dealership — can claim the credit. You might be able to finagle an extra discount because of the money they save, but that's up to them.
 
Documentation includes a Bill of Sale from the dealership.
 
BMWFS uses the tax credit to support their residuals and MF on these vehicles.

#1023 of 2262 Re: Leasees do NOT qualify [misterep] by anon3

Aug 01, 2009 (8:09 am)

Replying to: misterep (Jul 31, 2009 12:20 pm)
The information in your response contradicts itself.
 
You state that BMWFS uses the tax credit to support the residual on a lease. In that case, the value of the tax credit is already built into the price of the lease through higher residual. You will not be able to "finagle an extra discount because of the money they save" as you put it. That money would come from BMW (not the dealer) and they aren't going to give it to you on top of the residual consideration. I tried that when I first started researching this issue.
 
You state that "Leasees do NOT qualify", but the IRS says they do. The IRS and the tax code are the authority on this subject, not BMW. The confusion comes from language in the original bulletin for Alternative Motor Vehicle Credit for Hybrid Vehicles stating "If a qualifying vehicle is leased to a consumer, the leasing company may claim the credit." The key word is "may". It doesn't say "only" or "will" or "must" or "exclusively" or "the consumer is not eligible". It only says the leasing company can claim it if they choose to. The rest of the bulletin clearly states that taxpayers/consumers who lease are eligible.
 
To avoid a duplicate claim, the question remains whether BMW does claim the credit. Unless you are citing an authoritative source that BMW does claim the credit for a lease, I'm going to follow the IRS bulletin.

Messages Page 103 of 227

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