Last post on Dec 05, 2013 at 10:43 AM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW X5, Car Leasing, SUV
#2103 of 2374 Re: 2013 BMW X5 50i [Car_man]
Oct 21, 2012 (9:13 am)
I've never leased in the past, but may consider it if I decide to go for the Tesla Model S that we have now been notified is ready for us to "build" after having had one on deposit for 8 months. As such a couple of questions to make sure I'm not missing something in the math on the terms you have quoted to mralbury above.
For simplicity, using a $70,000 "net" selling price, nothing down and no taxes, I come up with:
$1,012.71 payment on 24 months / 20,000 miles. Or $24,305 over 2 years.
$894.63 payment on 30 months / 25,000 miles. Or $26,839 over 2.5 years.
It looks like you are getting whacked for 1.33% depreciation per month for the first 24 months; only 0.5% per month for the next 6 months (68%/65% residuals) correct?
Another way of looking at it, the last 6 months only cost $2,535 or the equivalent $422.50 per month when you go from the 24 to 30 month term, correct?
Begs the question as to why anyone would do a 24 vs. 30 month lease? I'd love to have the ability to buy a second lightly used X5d just like the one we bought for $54,800 new, for $37,265, this time in 2014. But I guess that's what makes the leasing companies profitable.
Is my math correct? Do leases generally give the lessor the right to buy the vehicle at the residual price (or assign that right)?
#2104 of 2374 Re: 2013 BMW X5 50i [Car_man]
Oct 21, 2012 (5:25 pm)
Thanks a lot Car_man!
I was wondering if I could get some feedback from people on some numbers I got for my lease from BMW of Boston.
2013 BMW X5 xDrive50i: MSRP $75,170 (cold weather, luxury seating, premium, premium sound, sport activity, and technology packages, and BMW apps). Final price $72,000. 30 months/10,000 miles per year. $3,000 down, 0.00155 mf, and 65% residual. Lease price of $899/month including taxes (6.25%).
I'd appreciate any comments.
#2105 of 2374 Re: Question about MF, fees and incentives [habitat1]
Oct 21, 2012 (6:04 pm)
I just unloaded my 2011 X5D for me, at idle and take off it was to noisy .
as for power way more then enough.
diesel in CA avg about the same give or take 10 cents.
avoid the 20 ..rims way to easy to ding and if you go with those OEM tires.
they are $600 a pop.
#2106 of 2374 Re: Question about MF, fees and incentives [chaozz1]
Oct 21, 2012 (7:31 pm)
And you replaced your x5d with?
I guess I'm glad that either I'm hard of hearing or simply don't find the sound of the diesel an issue. It's certainly no worse than any Mercedes or the q7. Maybe it was from my previously owning a 911 with the $2,500 optional sport exhaust? Our MDX sounds more strained under harder acceleration, especially given its need to downshift more than the x5.
We opted to stick with 19" rims on the sport activity package. Tire Rack sells the 20" tires for not much more than the 19's but the 20's wear out 30% faster.
#2107 of 2374 2012 BMW X5 diesel lease
Oct 22, 2012 (10:31 am)
Car_man and other posters,
I am looking at leasing a 2012 BMW X5 diesel. MSRP is $66,195. The lease would be structured as a 36-month lease with 15,000 year (0.00145 MF; 54% residual).
The car that I am looking at is a demo with 3,000 miles. The car was previously damaged by hail while sitting on the dealer's lot. While the car has been repaired, it nevertheless has a dirty carfax history report.
Using Truecar and simply calling dealers in the area, I am able to get $9,000 off MSRP without much negotiation. In some markets (i.e., New York, I am seeing people get $10,500 off the price of this vehicle).
Given the demo and the dirty carfax report (hail), what should my target purchase price be? Currently, the dealer is willing to take only $10,500 off.
How much flexibility does the dealer have in light of the hail damage? My guess is that they repaired onsite for significantly less than what they would have received from any insurance proceeds. But maybe I am wrong.
Thanks in advance,
#2108 of 2374 Re: 2012 BMW X5 diesel lease [chadwick218]
Oct 22, 2012 (11:40 am)
I'll put in my "other posters" two cents.
The vehicle you are considering would appear to have an invoice price of roughly $60,900; meaning about a $5,300 markup on the MSRP. There is a $4,500 eco-credit from BMW on top of that and you didn't indicate whether or not you qualify for any other credits or rebates (loyalty, drive events , USAA, etc). Let's assume you don't. I could order a brand new version of that vehicle tomorrow for $8,800 off MSRP ($1,000 over invoice). My exact color choices, option choices, etc.
In my opinion, even if the vehicle had no hail damage and was in pristine condition, a demo with 3,000 miles would need to be discounted by at least another $2,500 or more (that's only 5%) for me to consider it over a brand new vehicle. With the hail damage, I'm not sure I would take it at any price but if I did, I'd be looking for another $2,000+ off. You might not care as much if you are leasing, but I don't want to take a damaged vehicle if I'm buying.
So, by my thinking, you would need to be at $13,000 discount, PLUS any other discounts or credits you qualify for, before I'd say "go for it". The deal you have been quoted, $10,500 off, is not compelling enough, in my opinion.
#2109 of 2374 Re: 2012 BMW X5 diesel lease [chadwick218]
Oct 22, 2012 (11:58 am)
You're not really getting a very good deal, you can almost get that discount on a vehicle without a bad carfax report and no damage. I personally wouldn't buy it if they gave me $15k off msrp.
#2110 of 2374 Re: 2012 BMW X5 diesel lease [socal59]
Oct 22, 2012 (1:06 pm)
Thank you, habitat1 and socal59!
Your comments helped to confirm what I had been thinking. I am at discount of at least $13,000 for this vehicle (in light of the hail). I'll keep you posted.
#2112 of 2374 Re: 2012 BMW X5 diesel lease [chadwick218]
Oct 23, 2012 (4:47 am)
Just want to make clear that my suggested discount would be at least $13k, PLUS any other discounts or credits you qualify for. We got the $1,000 Olympic drive event credit from the summer; others are getting $750 loyalty discounts, BMW Apps drive credit (?), USAA insurance credits.
Also didn't ask if that vehicle is exactly what you want, color wise an option wise. When we were shopping, several dealers offered discounts that were a little better if we took what they had on their lots. But and extra $500 off is not worth it, IMO, if you are going to get stuck with a color combo you don't like, or extra options that you don't really care about. For example, almost all X5's here have the cold weather package at $750, which only adds heated REAR seats (heated front seats are standard), steering wheel, etc. By ordering our car to exact specs, we left that box unchecked. Just not worth it to us.
Sounds like you might be from southern California, in which case picking up a custom ordered vehicle at the Performance Delivery Center may not be practical. But it's the only way I will ever buy another new BMW of any flavor.