Last post on May 19, 2013 at 9:01 AM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW X5, Car Leasing, SUV
#493 of 2262 Re: New to BMW Leasing [msc20005]
May 08, 2007 (6:53 pm)
Hey MSC 2005,
You are getting a really bad deal at the dealership and would look elsewhere if I were you. First they are marking up the money factor. As you can read in previous posts the MF for may 2007 is .0023. In addition, that discount is not so good. I live in NY and have found atleast 2000 discounts on the X5 no problem at several different dealerships. There are plenty around right now as the lease deals haven't been good at all yet and the gas prices are climbing, which gives you some leverage.
As far as other stuff about leasing, people will give you all sorts of games and ways to play with the lease formula but the only thing you can do is make sure you are getting the best money factor (ie- they are not marking up the money factor, as they are in your case), and get the most off the MSRP as possible. Several companies do offer to lower the MF if you give multiple security deposits, but personally I prefer to have my money tied up elsewhese. Good luck.
In addition, don't know if you are locked into an X5, but as you will learn leasing and specials often don't have too much to do with MSRP as much as they do dealer incentives and lower MF, so depending what else you are interested in you may be able to find a substially better lease deal.
#494 of 2262 May Lease Program
May 09, 2007 (8:21 am)
Hi Car_man, first let me thank you for all the great help. I've got one dealership down to $1000 over invoice on the 3.0 X5. I wanted to just sum up what I know and make sure it's correct and at the same time ask another question.
BMW bank fee is $625
36 months & 15,000 miles per year residual is 58%
The money factor is .00230 with 1 security deposit and .00245 waiving the security deposit.
My additional question is what would the above be at 42 and 48 months?
Thanks so much.
#495 of 2262 Re: May Lease Program [paxtonk]
by kyfdx HOST
May 09, 2007 (8:24 am)
Those numbers are correct...
I don't know about 42 months, but the 48 month rates are terrible..
#496 of 2262 Re: May Lease Program [kyfdx]
May 10, 2007 (5:00 pm)
My dealer is telling me that because I haven't been with BMW Financial in the past 6 months I would need to raise the MF .00015. Is this true?
BTW - I found out the Residual on a 42 month 15K is 53%.
#497 of 2262 Re: May Lease Program [paxtonk]
by kyfdx HOST
May 10, 2007 (6:31 pm)
If you aren't a current BMWFS customer, you have to make a security deposit... If you choose not to, then the MF bump is indeed .00015
#498 of 2262 Re: May Lease Program [kyfdx]
May 10, 2007 (6:42 pm)
.0023 is buy rate with a security deposit
.00245 is buy rate without a security deposit
.0026 is buy rate without a security deposit for a non BMW financial customer
Is this correct?
#499 of 2262 Re: May Lease Program [paxtonk]
by kyfdx HOST
May 10, 2007 (6:44 pm)
.0023 is the buy rate for a current customer without deposit
.0023 is the buy rate for a new customer with deposit
.00245 is the buy rate for a new customer without deposit
.0026 is marked up...
#500 of 2262 Re: May Lease Program [kyfdx]
May 10, 2007 (6:49 pm)
Thanks a bunch, that confirmed what I was thinking. I guess they're all just trying to do the job of making money.
May 29, 2007 (4:53 pm)
I am looking to lease an X5 and the MSRP is 63,620. What is going to be a fair rate for 18,000 miles? Any help would be appreciated. The X5 3.0. I got a quote for a X5 4.8 loaded 18k miles I got a price of $1175 a month which I thought was steep. Any help would be appreciated.
#502 of 2262 Re: BMW X5 [l00q6227]
May 30, 2007 (4:21 am)
Well I got the quote from the dealer. $1066 a month plus tax. In PA tax is 9% on leases. This is way too high. Thompson BMW in Doylestown told me that they would sharpen their pencils.