Last post on Dec 11, 2013 at 4:46 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
BMW X5, Car Leasing, SUV
#1913 of 2375 Re: 2013 X5 sport activity [ftorresinc]
May 03, 2012 (3:05 pm)
I'm doing well thanks for asking ftorresinc. I hope that you are good as well. Here's the information that you are looking for.
BMW Financial Services' May buy rate lease money factor and residual value for a 36-month lease of a 2013 X5 base with 12,000 miles per year are .00190 and 59%, respectively for consumers who qualify for its top credit tiers.
Yes that is the best available money factor on this truck right now. That's actually right around what BMW FS' best factors are on most models for some reason.
Prices Paid: Buying & Leasing Experiences Forum
#1914 of 2375 Re: 2013 X5 sport activity [Car_man]
May 04, 2012 (3:40 am)
My dealer is now saying that the May dealer buy rate money factor went up to .00195. From what I have been reading here, that rate is what tier 1 credit customers typically pay. She insists that at the buy rate there is no profit to the dealer on lease. She also stated that when sold at invoice (not this dea--paid 1500 over) the dealer makes no profit (and actually loses money with prep and gas, etc.). My understanding is that this is not typically true but I want to know the facts and be fair in my discussions/negotiations.
Rather than reduce the markup on the money factor (I called it an interest rate and she corrected me that it is not since we are just basically renting the car), she suggested either paying multiple security deposits (which sounds to me like another way of saying "lend BMW a few thousand dollars for 3 years) or prepaying the entire lease (which doesn't seem like a great option---especially if it is just all of the payments upfront (rather than actually reducing payments by eliminating interest payments on the prepaid depreciation)).
Please let me know what is reasonable to ask for and if I am being told the truth by them.
Are there any non-captive options that are competitive?
#1915 of 2375 Re: 2013 X5 sport activity [raschroe]
May 04, 2012 (8:19 pm)
find a new dealer. My dealer allowed me to finance at the buy rate, after another dealer told me no....
#1916 of 2375 Re: 2013 X5 sport activity [jddssc121]
May 05, 2012 (2:17 am)
Hard to do, I committed to buy the car before arranging financing. Lesson learned.
#1917 of 2375 Re: 2013 X5 sport activity [raschroe]
May 06, 2012 (2:42 pm)
Hey raschroe. The money factor for the 2012 X5 is still .00190 in May for consumers who qualify for its top credit tiers. The number that you were told is incorrect. I wouldn't say that dealers make a killing on vehicles that or sold at invoice, or that they could even keep the doors open if they sold all of their vehicles at that price, but given the back-end money that is available from BMW I highly doubt that the dealer would lose money on a unit that was sold at invoice.
Making additional security deposits is an excellent way to buy down a vehicle's money factor.
Prices Paid: Buying & Leasing Experiences Forum
#1918 of 2375 So Confused! 2012 BMW X5d Lease Offer: Should I Take This?
May 16, 2012 (7:29 am)
Okay, so after total vehicle regret in trading in my old BMW SUV for a Honda SUV...it's been 3 months and I need to get back into a BMW. Since I like newer cars, I thought leasing would be a good option.
Here's the deal:
Selling price 59,549
Trade for Honda: 26,500 (which is a rip off since it's 3 months old, but oh well.)
Residual: 56% off MSRP on 15k
Payment for 15k per year: w.$3500 down: $777
W/$0 down, $885
Money Factor: .00190
I feel as though the price under MSRP isn't enough...and the selling price I'm told reflects the Eco Credit.
What do I need to ask for in negotiating? Ideally, I'd like to pay $0 down, and get the payment down to about $750 a month.
Should I ask for all fees, like acquisition, destination to be included?
Should I even mention holdbacks? I'm told the vehicle is being sold to me for $500 over dead cost...but I know there must be incentives.
Note: Is the Eco Credit something taken off of the selling price?
#1919 of 2375 Re: 2013 X5 sport activity [raschroe]
May 19, 2012 (5:37 pm)
what do you mean "committed"? If you didn't sign a sales contract, you didn't commit to squat..........And without the financing terms, you can't generate a sales contract.......
#1920 of 2375 Re: 2013 X5 sport activity [jddssc121]
May 19, 2012 (6:29 pm)
I did sign a sales contract. I prefer to keep the components (price, trade, finance, etc.) of the "deal" separate so each can be negotiated on its own merits. Obviously this only works if financing is not essential.
#1921 of 2375 Re: 2013 X5 sport activity [raschroe]
May 19, 2012 (7:15 pm)
1500 over invoice is the high end of the range. It's not hard to find a dealer who will sell for $1k over invoice or less. If you didn't put a deposit on that sales contract, then it likely is not binding. if you can, walk away from that "deal". You can do better.
The thing about the X5 is that we are in the last year of production for the 2nd generation X5. Later this year, BMW will start offering heavy incentives as the 3rd generation approaches production. The current X5 is a 7 year old design and it will be yesterday's news in less than a year. Why pay a premium for an old model when it will soon sell at a discount?
#1922 of 2375 Car_Man- Thumbs Up or Down?
May 23, 2012 (6:25 am)
Ok so thinking about BMW X5 lease. I love this site.
MSRP of my X5- $53,245. Got $49,590 price for car. At 15,000 miles and $4,000 down the lease payment is $687. The residual after three years is $30,350. Not sure of the money factor that you mention above but slightly above .00190 so the 'finance guys can get paid'.
I know you are not a fan of $4,000 down payment but getting this thru customs (wife) means low monthly price. Plus its rare for totaled car and stolen and that goes down of course the closer you get to end of lease so I will take that chance.
So outside of the downpayment- what are your thoughts here? THANKS!