Last post on Jun 17, 2013 at 2:28 PM
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BMW X5, Car Leasing, SUV
#1190 of 2268 Re: Is this a good deal for BMW X5d [wicked4u2c]
Apr 13, 2010 (8:03 am)
"What should I be paying for this car? Here are the numbers the dealer quoted me.
Thanks in advance!
BMW X5 xDrive35d
COLOR: Alpine White
UPHOLSTERY: Black Nevada Leather
Base Price $51,300.00
0ZPP Premium Package 3,400.00
0328 Running Boards 300.00
0386 Roof rails 100.00
04AZ Dark Bamboo Wood Trim 0.00
06FL iPod and USB Adapter 400.00
Destination and Handling 875.00
TOTAL AS EQUIPPED $56,375.00
SELLING PRICE $50,875.00
Lender BMW Financial Services
Term 36 Months
Money Factor 2.7
Residual Factor 56%
Selling Price $50,875.00
Bank Fee $925.00
Total Capitalized Cost
Residual Value $31,570.00
Total Depreciation $20,230.00
Capital Reduction ($0.00)
Monthly Depreciation $561.94
Monthly Rent $225.10
Monthly Payment $787.04
Tax (8.75%) $68.87
Monthly Payment + Tax $855.91
Capital Reduction ($0.00)
Cap Reduction Tax (8.75%) $3.94
License & Registration $696.75
Documentation Fee $45.00
First Payment $855.91
Security Deposit $900.00
Drive Off $2,501.60
Trade Equity $0.00
Due at Signing $2,501.60"
Not a good deal at all. My 2011 35i came in at just under $58k, 36mo with 10k/yr.
Final cost is $817/mo with taxes included, $0 down, $1200 out the door.
#1191 of 2268 BMW Financial question
Apr 14, 2010 (8:00 am)
I am coming off my 3rd X5 lease in 4 months, and 4th BMW in 15 years. Looking to do another one. Does BMW financial look closely at credit scores? up until this past year my credit rating was sky high. Due to the economy etc that has all changed and it's pretty bad now. X5 lease is current and up to date although there were a few late charges. Credit cards were the problem and i have been making settlements with them but I'm not done. Will this be a major problem with BMW financial? I've also been told that if you lease a new vehicle in the last 3 months of the contract that BMW will waive the last payments. Any truth to this?
How easy or likely is it to purchase X5 at end of lease term at a discount from the residual value, and will BMW financial finance it?
#1192 of 2268 Re: BMW Financial question [kabbalah]
Apr 14, 2010 (12:52 pm)
Credit scores count -- especially if there is a preferred rate. They may cut you some slack if you have been on time with your current lease payments -- or not. Just discuss it with your finance mgr. Now, if you need time to sort out your credit issues I suggest walking away from the X5. You don't appear to be in the right place for a super premium ride. All is not lost. The Mazda 5 comes to mind -- brand new from 17-21k depending on the model. Kia Rondo -- Hyundai Elantra Touring -- Just step back for a few years -- late model impalas are great buys.
Leasing is tougher than buying when credit issues are involved. Good luck.
#1193 of 2268 Re: BMW Financial question [jayrider]
Apr 14, 2010 (3:35 pm)
Thanks for your input but I need one of the hosts or a BMW guy to answer for me.
#1194 of 2268 Re: BMW Financial question [kabbalah]
by Car_man HOST
Apr 15, 2010 (3:02 am)
Hi kabbalah. BMW Financial Services uses a pass / fail system for its lease program. Either your credit score is good enough to qualify for its best available rates or you can't lease through them at all. From what I have seen in the past, BMW FS tends to be fairly lenient about who it approves for leases. You will probably be able to lease through them unless your credit is reeeally messed up. If your credit is bad enough that BMW FS won't approve you then you probably should lease something less expensive and work on improving your financial situation.
BMW does run official early lease termination programs for time to time where it will waive the remaining payments for returning lessees. While I am not aware of any such program right now, it is possible that BMW is indeed running one. Ask a dealer to find out for certain. Just make sure that BMW FS is actually waiving your payments and the dealer is not just making them for you. The latter will have a negative impact upon your ability to negotiate the best possible deal on your new lease.
Most banks will not negotiate the end-of-term purchase option prices of leased vehicles. Having said this, they will occasionally do so so it never hurts to ask. Place a call directly to BMW FS and see what they can do for you. If your initial contact there isn't willing to negotiate, try working your way up the ladder to a manager. That sometimes will yield better results. Again, more likely than not they won't lower your vehicle's price but you don't have anything to lose by trying.
Prices Paid: Buying & Leasing Experiences Forum
#1195 of 2268 Experience w/ Costco?
Apr 15, 2010 (11:49 am)
Wife and I are deciding on an X5 3.5 and was wondering if anyone in the Chicago area used the Costco Auto program prior to negotiating more? Trying to determine if it's worthwhile joining Costco or not.
#1196 of 2268 2011 X5 Lease Question
Apr 19, 2010 (8:53 am)
I was wondering if someone could tell me if this is a good deal, and if not, what we should try to negotiate. Here it goes:
2011 X5 in Sparkling Bronze, Sand Beige Nevada Leather
Heated front seats
Satellite radio w/1 year sub.
Rear Seat Entertainment
Total as Equipped: $60,875
Destination and Handling $875.00
Residual %: 62.00%
Residual Value: $37,742.50
Cap Cost: $57,375.00
Bank Fee $725.00
Adjusted Cap Cost: $58,100.00
Total Monthly Payment: $862.54
Base Monthly Payment: $785.91
Use tax: $76.63
DMV Fee $746
Doc fee: $45
California Tire Fee $7.
Amount Due at Start: $1,664.93
36 months/12 k per year
or if we put $5,000 down our total monthly payment is $759.12 incl tax
Any thoughts would be appreciated
Apr 20, 2010 (8:04 am)
I hope someone can concur as this lease does not add up for me...
2010 X5 3.0xdrive Monaco Blue, 36 months 15k mile/year
Cap cost: $57000
Plus 8% Sales Tax (Due upfront, stupid state): $4560
$5k cash due at signing (which I assume includes sales tax)
$895 a month
How is the dealer coming up w/ something close to $900/month? Assuming tax comes from $5k due at signing, I am only coming w/ lower 800s/month. Dealer won't say how they calculated figures (shady?)
Hope someone can verify my suspicion
#1198 of 2268 Re: 2010 X5 [kl07rph]
Apr 20, 2010 (10:48 am)
you got ripped off kid, read my post all the way up at the top of this page.
#1199 of 2268 Re: 2010 X5 [5starride]
Apr 20, 2010 (4:41 pm)
Thanks for concurring; contrary to your response, I did not even consider that deal. However I was hoping someone here could shed some light into what my dealer was smoking.
Seems like you got a fair deal however as my post stated, my state (IL) requires sales tax upfront. An ideal comparison would be from someone who leased from a similar state (Texas, Ohio, Illinois, etc) versus another state where taxes are rolled into the monthly payment.
PS: Not sure if you're insulting me or not, but your condescending "kid" attitude toward me is not appreciated.