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BMW X5 Lease Questions

2260 messages,  Last post on May 18, 2013 at 1:32 PM

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

Messages Page 138 of 227

#1366 of 2260 Is this a good deal??? by havalina

Sep 26, 2010 (3:17 pm)

I have a current offer from a local dealer for a 2011 BMW X5 35i premium. White with black leather.
 
MSRP: $51,600 (base without options)
 
Options are as follows:
 
Convenience Package $2,750
Technology Package $2,800
Running Boards $300
Heated front seats $500
 
Dest & Handling $875
 
Total equipped MSRP: $58,825
 
Total Cap Cost: $55,825
 
36 month lease with 15,000 miles per year. Money factor 2.1, residual factor 60%.
 
Residual Value: $35,295
Total Depreciation: $16,530
Cap Reduction $4,000
Monthly Depreciation $459.17
Monthly rent $182.95
 
Monthly payment &642.12 + 9.75% tax for Los Angeles County for a total monthly payment of $704.73
 
Drive off costs are as follows:
 
Cap reduction $4,000
Cap Reduction Tax $465.08
Lic & Reg. $737
Bank Fee $725
Doc Fee $45
First Payment $704.73
Security Deposit $750
 
Total drive off is $7,426.80
 
I am trading a vehicle that has equity in it. I have checked Kelly blue book, black book and nada guides and trade in values for vehicles well equipped like mine in fair to good condition are $27,000 to $30,000 respectively. My payoff is approx. $26,000. I am thinking I will have $2,500-$3,000 to roll into the new lease.
 
My thoughts are to get the dealer to add the net trade in value of this car I'm trading in into the front end of the lease in order to lower or avoid the cap reduction tax. What are your thoughts on that?
 
Also, the $750 security fee is a junk fee as far as I'm concerned. In the past, I financed 4 vehicles through BMW Financial Services over the spann of 10-11 years with a spotless payment history. Since I haven't owned a BMW for the last 6 months, the dealer is telling me that there is no way to get around that security fee. I have a problem with this based upon principal. BMW fin svcs financed 4 vehicles and made plenty of money off of me over those years and I would think that there could be an exception made on this. Is the security fee a mandatory fee? Can I get rid of bank fee as well?
 
What do you think of the current deal??? Could I do any better. Would love your thoughts.

#1367 of 2260 Leasing a new 2011 BMW X5 5.0 by ahart814

Sep 27, 2010 (3:43 pm)

Replying to: Car_man (Sep 15, 2005 3:57 am)
I am looking at leasing a new 2011 BMW X5 5.0.........I have my prices all set......The question I have which maybe a dealer or 2 could give their opinion is whether they think there might be better incentives beginning Oct 1, 2010 or if I should just sign a deal tomorrow with this months incentives,
 
If someone could let me know their thoughts on this, I'd really appreciate it.

#1368 of 2260 2011 BMW X5 35d by degeo

Sep 30, 2010 (6:52 pm)

Hi Car Man:
 
I am gettting the following deal and would appreciate your input. If it's good or could better.
 
Money factor .0021/Residual 59%/10K/36 months
 
MSRP $56225
Negotiated price $52940
Eco credit (4500)
Selling price $48400
Acq Fee $725
Sales Tax 7% (NJ)
Residual $33172.75
 
Monthly Payment $650.
 
Thank You in advance.

#1369 of 2260 Re: 2011 BMW X5 35d [degeo] by frugalsc

Oct 04, 2010 (1:47 pm)

Replying to: degeo (Sep 30, 2010 6:52 pm)
Hi degeo..
i'm also in jersey...can you tell me what is your total upfront cost? and which dealer is this?

#1370 of 2260 Re: 2011 BMW X5 35i Premium [packman7] by Car_man HOST

Oct 06, 2010 (2:53 am)

Replying to: packman7 (Sep 18, 2010 9:27 pm)
Welcome packman7. Banks do not let dealers alter their published residual values, however they do often let dealers mark up their buy rate lease money factors to add additional hidden, back-end profit to deals. BMW dealers are notorious for marking up vehicles' factors. That's why it is important to find out the buy rate for the vehicle that you want prior to finalizing your deal
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#1371 of 2260 Re: 2011 BMW X5 35i Premium [jeme] by Car_man HOST

Oct 06, 2010 (2:57 am)

Replying to: jeme (Sep 19, 2010 12:52 am)
You're very welcome jeme.
 
According to the latest information that I have seen, BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2011 X5 Diesel with 10,000 miles per year are .00220 and 59%, respectively for consumers who qualify for its top credit tiers.
 
BMW's special lease program is available for up to 42 months. Its 42 month, 10k numbers for this truck are .00220 and 53%.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#1372 of 2260 Re: Confused on BMW MF and more [vision_tx] by Car_man HOST

Oct 06, 2010 (3:04 am)

Replying to: vision_tx (Sep 25, 2010 12:58 pm)
Welcome vision_tx. BMW's lease program is national, i.e. it does not currently vary by region.
 
BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 X5 35i with 15,000 miles per year are .00220 and 56%, for consumers who qualify for its top credit tiers.
 
There's only three reasons why the dealer would use a higher money factor than this to calculate your vehicle's payment.
 
1) Your don't qualify for its top credit tiers.
 
2) You are not a returning customer and you want to have your vehicle's security deposit waived in exchange for a .00015 money factor increase.
 
3) The dealer is marking your vehicle's factor up to add additional hidden back-end profit to your deal.
 
$3,000 over dealer invoice does sound to be a little on the high side to me. Are there other BMW dealers in your area? If so, you may wan to try doing some comparison shopping.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#1373 of 2260 Re: 2011 BMW X5 35d [degeo] by Car_man HOST

Oct 06, 2010 (3:15 am)

Replying to: degeo (Sep 30, 2010 6:52 pm)
Hello degeo. The money factor and residual value that you were quoted for the '11 X5 Diesel that you're interested in look good.
 
Let's take a look at this truck's selling price. The X5 that you're interested in probably has a spread of around $4,400 between its full MSRP and its dealer invoice price. The $3,285 dealer discount that you were quoted probably puts you at a little over $1,000 over invoice...which isn't bad.
 
If you're in an area with a ton of competition and you feel like shopping around you might be able to shave a couple hundred dollars off of your cap cost, but again this isn't a bad deal.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#1374 of 2260 Re: Confused on BMW MF and more [Car_man] by vision_tx

Oct 06, 2010 (7:01 am)

Replying to: Car_man (Oct 06, 2010 3:04 am)
CarMan....thanks. Yes, I think the problem was that I was dealing with the only dealer in town and they were acting like it. I went to neighboring city with 3 dealerships and amazingly had different result. Shopping the deal helps! I got 1200k over dealer invoice and waived security deposit as I have excellent credit and have a relationship with BMWFS through my BMW motorcycle purchase so didn't have to do a buy down. Got a MF of .00221 and a 61% residual. Several of the misc fees moved down as well. Monthly payment came in exactly where I was hoping it would and about $100 less a month than my local dealer. This is forum is a great help!

#1375 of 2260 Re: 2011 BMW X5 35d [Car_man] by degeo

Oct 06, 2010 (9:23 am)

Replying to: Car_man (Oct 06, 2010 3:15 am)
Hi Car_Man:
 
Thank You very much for your reply. You are exactly right. I added $1000 on top of the invoice and calculated my deal accordingly. I did the research after reading this forum and must say that this site is extremely helpful in making a right decision. I did not want to shop around as the dealer is close to home and offers complimentary pick-ups and delivery for service.
 
Thank You again for all your help.

Messages Page 138 of 227

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