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Prices Paid: Buying & Leasing Experiences BMW X5 Lease Questions
1118 messages, Last post on Dec 07, 2009 at 11:03 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: xwoogiex (Apr 01, 2007 7:36 pm) I cant see them not offering more incentives. You may just need to wait.
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Replying to: mmoreno1978 (Apr 02, 2007 7:15 am) Although those programs sometimes generate a lower monthly payment than non-program leases, I usually find that the total cost of a program lease can be more than a standard lease. The reason is that the mandatory acquisition fee, security deposit, disposition fee, and extra 3 months of payments add more to the total cost of the lease than the few dollars you save per month on the payment. A standard 24 or 36 month lease often doesn't require an acquisition fee (pure profit) and you can negotiate away the security deposit if you have good credit. You save thousands with fewer payments and you also may be able to negotiate a better discount from the dealer than the standard program offers. So always look at the total cost of different lease programs. Unless the vehicle is a really slow seller and BMW has applied substantial incentives, you may find the total cost of a standard lease to be lower than a program lease on popular models. The other marketing "gotcha" is that that you probably will never walk out of the door with the advertised payment. The advertised payment will exclude title, tax, etc., it assumes 10k miles per year which few of us would want, and it usually assumes a basic level of options that you won't find very often on a dealer lot. You probably would have to custom order the car with the program's options and you will have to put down more cash to cover cost of tax and title. I am willing to bet that the average customer's actual monthly payment on a program lease is at least $100 higher than the advertised price. Keep that in mind when you go to a dealer thinking you'll walk out with a $499/month lease payment on an X5.
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Replying to: anon3 (Apr 03, 2007 8:27 am) First of all, a security deposit you get back. So that cannot count as a cost. Second, you say that 3 extra payments make it cost more than a 36 month lease. Of course it costs more, you have the car for 3 additional months. You would have another payment for those three months if you took a 36 month lease. If the monthly payment is lower for a 39 month lease vs. a 36 month lease, as long as there is no additional monies due at lease signing, there is little reason not to do it. Just make sure that the car is under factory warranty the entire duration of the lease.
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Replying to: lugoesq (Mar 31, 2007 6:29 am) Where did you see this deal?? It looks like a GREAT deal... Could you pls give more details.. Thanks!!
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Replying to: xwoogiex (Apr 03, 2007 5:46 pm) So you are looking at the mid 700s for a modestly equipped X5 for only 10,000 miles per year. Those "specials" are gimmicks to get people into the store. It's not about the monthly payment, it's about the total cost of the lease divided by the months. That's how you compare lease options. |
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Replying to: xwoogiex (Apr 03, 2007 5:46 pm) Just ask all of those people that can't afford their Option-ARM mortgages that were advertised as $60/month for a $300,000 loan. |
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Mike is part correct about his assumptions on BMW's lease tactics. Yes the lease program is mildly misleading but what BMW is really advertising is that they have placed incentive on the table. Before they had these programs our money factor was about .00325 now it is like .0025. The residual stays the same. The X5 has always been in the 58 to 62% range depending on purchased miles. I would recommend getting an X5 sooner than later we have exausted our allocation and while we have 5 on the lot you can not order one for deliery and expect to get it is six to eight weeks. John Ciocca |
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Replying to: sheikh37 (Apr 02, 2007 6:29 am)
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Replying to: sheikh37 (Apr 04, 2007 10:41 pm)  BMW's FS rate for the X5 for the month of April is .00220 they just went down for this month again. You can track your car online to see where it is too. Let me know if you need instructions on how to do that. John Ciocca |
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Oh yeah I almost forgot depending on when the dealer placed your order it all depends on what they had for allocation or if they matched you up with something inbound
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