Last post on Dec 04, 2013 at 8:30 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
BMW X5, Car Leasing, SUV
#36 of 2373 Re: Re: X5 '0 5lease #'s
Sep 20, 2005 (2:07 am)
Hi Jay. I would be happy to calculate a lease payment on the truck that you are interested in for you. According to my calculations, if you were to lease a 2005 BMW X5 3.0 with an MSRP of $50,920 and a selling price of $44,920 through BMW Financial Services right now for 24 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $808. BMW FS is not currently offering 39 month leases on this truck, but a 36 month lease would definitely provide you with a more attractive monthly payment. If you were to do an otherwise identical lease for 36 months, your payment would drop to around $665. I think that you still have a little room to negotiate on your truck's selling price. After the $5,000 dealer cash that BMW is currently providing on this model is taken into account, you are only receiving a $1,000 discount on a leftover model that dealers will be likely anxious to sell. If there is a decent level of competition for your business in your area, you should be able to negotiate at least another $1,000 to $2,000 off of this truck's selling price.
Smart Shopper / Prices Paid Forums
#37 of 2373 Re: Realistic Lease Price [Car_man]
Sep 21, 2005 (6:41 am)
Thanks Car_Man. I appreciate your filling me in on the appropriate money factor since I had read elsewhere (probably you...) where it was indicated that BMW dealers would jack up the money factor over what was available to them. Also, re the security deposit, I should be able to get it waived since I previously leased three vehicles with a dealership under the same ownership umbrella. Note the $4,000 also included upfront sales tax and an $800 bank fee. I agree with you and totally understand not to pay any cash upfront and won't - other than title, license and the bank fee if I cannot get them to waive it (any chance on this?).
Note I would love to find an appropriately equipped '05 but what is left isn't appealing to the spouse (who will be mostly driving it...). So it looks like I will need to wait them out for a program on a 2006.
#38 of 2373 Re: X5 lease on BMWUSA [drtravel]
Sep 21, 2005 (9:57 pm)
I need some help desperately. Thanks in advance for reading this. Here is my situation. I am going to buy a 2005 X5 3.0 and received 7k off the msrp. Here are the figures:
Length of lease=36 months
Cost of car: $46,500 (Premium, Sport, Cold Weather, Privacy, Auto, Nav, Xenons)
Money factor (.0029)
Total out of pocket ($1,187.64+$800(deposit)=$1,987.64)
Residual value is $29,971
Cost of car $50,296 (Out the door)
Interest rate: 5.48%
Payment: $821.26/month for 72 months
I was at the dealership for 4 hours struggling over the lease vs. buy decision. The money factor is high because the dealership marks up the rate by .0004. I understand the BMW buy rate is .0025. He would not budge on the money factor. My question is, is it better for me to lease vs buy? I do like having new cars every 3-4 years and have had 4-5 new cars in the past 15 years. Each time I have lost money when trading it in. Mileage wont be a factor on the lease btw. This is my thinking...
After 3 years of leasing, I would have paid a grand total of $27,655.
If I purchase, I would have paid a total of $29,565 for 3 years
The residual is $29,971. Do you think my X5 would be worth $29,971 in 3 years? If so, I can buy it out. If not, I can leave it. If I purchase it, would I be able to sell it for $26,508 (what I would owe)? If I'm not clear, please let me know. Thanks so much.
#39 of 2373 Re: X5 lease on BMWUSA [maximus330i]
Sep 22, 2005 (9:21 am)
I'm sorry for asking this again, but I am in a real bind here. I appreciate all answers. Thanks so much.
#40 of 2373 Re: Re: Realistic Lease Price
Sep 26, 2005 (1:58 am)
You're very welcome, thetaxman. If you are a current BMW FS lessee then you should be able to get your truck's security deposit waived. BMW FS charges an acquisition fee on every vehicle that it leases and individual dealers do not have the authority to waive it.
Smart Shopper / Prices Paid Forums
#41 of 2373 Re: Re: X5 lease on BMWUSA
Sep 26, 2005 (2:04 am)
Hello maximus330i. The lease money factor that you are being charged on this truck is too high. BMW Financial Services' buy rate lease money factor for a lease of a 2005 BMW X5 is currently only .00250. Even if you were to have your truck's security deposit waived, it would only increase the factor to .00265. It appears as though the dealer that you are working with is marking-up BMW FS' buy rate to add additional back-end profit to your deal. This sort of thing is perfectly legal and happens all the time with BMW dealers, but can usually be avoided if you know what the base factor is.
If you are forced to use the higher .00290 lease money factor, which is equivalent to an interest rate of nearly 7%, you probably would be better off financing this truck with a conventional loan at a lower rate. It is difficult to say whether BMW FS' residual value of 54% for a 3 year lease of an '05 X5 is inflated. It probably is a little higher than this truck will be worth at the end of three years, but it is difficult to say for certain at this point.
Smart Shopper / Prices Paid Forums
#42 of 2373 Purchased the X5
Sep 26, 2005 (12:13 pm)
Thanks Car_Man. I ended up purchasing the X5 with a 5.48% apr through USAA. The lease was a bit high and I wouldn't save a lot of money over 3 years versus buying it. I appreciate the response.
#43 of 2373 New lease program for 2006 X5 $700
Oct 01, 2005 (10:23 am)
The BMW X5 lease problem is back for the 2006 models. Just around $700.
Here's the details,
X5 4.4 with Navigation, CD Changer, Cold Weather Pkg, Premium Pkg, 36months.
15000 miles/year, no money down. only the first month and security deposit of $650.00.
Total out of packet $760 + $650+$110 mv fees = $1520.00.
I think this is good for most of us, just like I told every one in the begining of September.
Good luck every one.
#44 of 2373 Re: New lease program for 2006 X5 $700 [suv800]
Oct 01, 2005 (2:19 pm)
What are the numbers you are using for that $760 pmt, with $0 down and 15k?
Looking at the web site it is showing a $57595 X5 4.4 w/ spt pkg, cw, and 19" wheels with $2500 down at $688/mo, 10k lease.
If I use August rates, add 3% to the residual for a 10k lease, which is 62%. Use a lease factor of .00075 and the same MSRP I get a $624 pmt.
If I plug in your MSRP of $59940, I do come up with $771 w/o tax. I am assuming you came up with $760 judging by your out of pocket listing.
Just trying to understand so that I can negotiate my own X5.
#45 of 2373 Re: New lease program for 2006 X5 $700 [tpjcourtney]
Oct 01, 2005 (6:37 pm)
2006 X5 4.4, msrp $59895.00
The sales rep uses this figure to calculate the price for 36 months, 15000 mile/yr.
Remember, that's BMW's leasing program. In August, they had 39 months program, but now has 36 months. I asked for $700.00 per month, then we negotiated to $760.00 no upfronts, only 1st plus security fee.
Remember, that's tax included.
We are in New York. I can only write the name of the dealer.
BMW of Bayside. If you want, go to BMW's website then location their phone number and details.