Last post on Dec 11, 2013 at 4:46 PM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW X5, Car Leasing, SUV
#1372 of 2375 Re: Confused on BMW MF and more [vision_tx]
Oct 06, 2010 (2:04 am)
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.
Prices Paid: Buying & Leasing Experiences Forum
#1373 of 2375 Re: 2011 BMW X5 35d [degeo]
Oct 06, 2010 (2:15 am)
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.
Prices Paid: Buying & Leasing Experiences Forum
#1374 of 2375 Re: Confused on BMW MF and more [Car_man]
Oct 06, 2010 (6:01 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 2375 Re: 2011 BMW X5 35d [Car_man]
Oct 06, 2010 (8:23 am)
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.
#1376 of 2375 Re: 2011 BMW X5 35d [degeo]
Oct 07, 2010 (1:23 pm)
can you tell me which dealer you're working with and your total due at signing?
#1377 of 2375 Lease Deal on 2011 X5 Premium Good?
Oct 07, 2010 (4:41 pm)
So I was wondering if the lease deal I am being offered is good or not.
2011 x5 Premium with options comes to MSRP of $59925 with destination charge
Negotiated Cap Cost $57134.10
+ $725 acquisition fee
= $57,589.10 Gross Cap Cost
Money Factor .00220
6.0% sales tax
$863.73 monthly payment
Up front costs:
1st month $863.73
+ $900 security deposit
+389 dealer fee
+266.50 title and registration
#1378 of 2375 Could use some advice on leasing 2011 X5 :)
Oct 08, 2010 (4:48 am)
Hey! I'm so glad I found this site. Reading this thread has been pretty helpful. I haven't made a deal on a car on my own ever (my ex always took the lead on this sort of stuff) and I could really use some help! Do you think this is a good offer? I have been in touch with four dealers and out of the two that have gotten back to me this is the lowest. I'm just afraid they smell my inexperience, kwim?
2011 X5 premium
12k miles per year
Cold weather pkg
3rd row seat
$1,239 due at signing (1st pmt plus mv fees)
$879 per month (tax and bank fee are in the monthly payments)
I have also been thinking about financing. I'm kind of scared to spend almost 30k on a lease and walk away with nothing at the end. I asked for some finance pricing today and the dealer is getting back to me. Does anyone have an opinion on this with regards to this specific car? Today I plan on researching what the car will be worth 5 years from now so I can try and figure out if financing would mean saving in the end.
THANKS SO MUCH IN ADVANCE!
#1379 of 2375 2011 BMW X5 35i
Oct 09, 2010 (7:19 am)
Looking to lease (36mth 15k) a 2011 x5 35i loaded- MSRP $52250. We have not locked in final price, but they are using a money factor of 0.0026 and a residual of 56%. Dealer is in Cincinnati OH and has an aquistion fee of $725, document fee of $250, and tag fee of $33. Does this sound in-line? Are there any incentives for dealers that could help me get below invoice?
#1380 of 2375 Re: Could use some advice on leasing 2011 X5 :) [littlenpink]
Oct 09, 2010 (6:27 pm)
Your lease deal seems good to me-I've scanned enough of these on various websites/forums and yours seems fair as long as no more money is required from you as a capital cost reduction and as you state all the taxes are already rolled in to this monthly. As far as your lease versus buy quandary your tax advisor might be able to shed some light on this if you own a business that can treat the lease fee favorably. I had great satifaction at Field"s BMW in Northfiled, IL(suburb of Chicago) Google them-they have other dealerships in major cities. Hope this helps.
#1381 of 2375 Re: Lease Deal on 2011 X5 Premium Good? [mspopilek]
Oct 10, 2010 (3:23 am)
A good deal is measured by the sell price (negotiable) and the money factor (may or may not be negotiable) as well as the residual (non-negotiable). I assume that the "Negotiated Cap Cost" of $57,134.10 is the sell price or what is called the Agreed Upon Value in leasing jargon. It would behoove you to research Edmund's invoice pricing as well as overstock or amex at zag.com for competitive low pricing in your area if you haven't already done so. Also, if you have outstanding credit, you need to determine whether or not the 0.00220 money factor is the "buy rate" which is the lowest rate offered to those with excellent credit. If it isn't, make sure you're getting the buy rate.
It appears as though your car is to be registered in a state that taxes the payment streams as they're received (e.g., PA, MA, CA, FL). Some states compute sales tax on the sell price; others on the total of the taxable payments and, then, there are those that tax depreciation only. Regarding the numbers you provided, your gross cap should be $57,859.10 which is also your adjusted cap as there is no cap reduction. Also, I'm not sure where the upfront tax of $27.33 is coming from. The only taxable item listed upfront is the $389 dealer doc fee for which the tax should be 0.06 x $389 = $23.34.
I would research the sell price and inquire as to whether or not the 0.00220 money factor reflects the buy rate. Also, ask about the $27.33 upfront tax as it doesn't make any sense.
Hope this helps.