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BMW X5 Lease Questions

2270 messages,  Last post on Jun 19, 2013 at 8:02 AM

You are in the Prices Paid - Buying & Leasing Experiences Forum.

What is this discussion about? BMW X5, Car Leasing, SUV

Messages Page 56 of 227

#550 of 2270 Re: BMW X5: Lease Questions [Car_man] by rootbeer1

Nov 03, 2007 (2:56 pm)

Replying to: Car_man (Aug 31, 2005 3:15 am)
We currently are leasing a 2005 X5 3.0 (Our lease ends in six months). Our credit score is in the very high 700. We have made all our payments in time. We are so happy with this car that we would now want to lease a 2007 X5 4.8. We have done all our research on this vehicle and have a Edmond's TMV Pricing Report on it as well. My question to you is:
A) Does it matter that we have an excellent credit score when leasing a vehicle? Should it help us get a better interest rate (money factor)?
B) Because we are currently leasing a BMW and would like to lease another one, does BMW have some kind of a "loyalty program" that should help us get a better deal?
C) Do we get the "residual value" of the car from the dealer and can he lie to us about that? What about the money factor?
 
Thanks!

#551 of 2270 Re: MSRP (car_man) [lextons1223] by Car_man HOST

Nov 06, 2007 (5:09 am)

Replying to: lextons1223 (Oct 07, 2007 1:48 pm)
Hi lextons1223. BMW Financial Services' new November buy rate lease money factor for the 2008 BMW X5 3.0 is .00275.
 
Certainly aren't being given much of a discount on your X5. I have seen community members report getting bigger discounts than this. Try stopping by the following discussion to see how much other community members have paid for similar trucks lately: "BMW X5 Prices Paid and Buying Experience". The fact that you have already given the dealer a $1,000 deposit certainly will not help your bargaining position any. The dealer will feel as though it has leverage over you because you will not want to walk away from this deal and risk losing your deposit even if it was supposedly refundable.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#552 of 2270 Re: BMW X5: Lease Questions [ramysharaf] by Car_man HOST

Nov 06, 2007 (5:15 am)

Replying to: ramysharaf (Oct 11, 2007 10:17 pm)
I'm glad that you've found this discussion so helpful, ramysharaf. Wow, you certainly are getting an expensive X5. I estimate that this truck probably has a spread of a little over $6,000 between its full MSRP and its dealer invoice price. The $4,000 discount that you were given isn't bad. Do you know what money factor was used to calculate your monthly payment? As long as the dealer didn't mark up BMW FS' buy rate for your lease, I'd say that this is a pretty good deal for this particular vehicle.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#553 of 2270 Re: Re: Realistic Lease Price [hefner] by Car_man HOST

Nov 07, 2007 (3:18 am)

Replying to: hefner (Oct 16, 2007 2:20 pm)
Hi hefner. Vehicles' buy rate lease money factors are set by banks, not dealers. Having said this, dealers often have the authority to mark-up banks' buy rates to add additional hidden, back-end profit to deals. BMW dealers are notorious for doing this. The .00310 lease money factor that you were quoted for the 2008 X5 that you are interested in is too high. BMW Financial Services' current buy rate for a 36 month lease of an '08 X5 is only .00275 for consumers who pay a security deposit at lease signing. Make sure that the dealer that you are working with uses this factor to calculate your truck's monthly payment.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#554 of 2270 Re: BMW X5: Lease Questions [rootbeer1] by Car_man HOST

Nov 07, 2007 (3:31 am)

Replying to: rootbeer1 (Nov 03, 2007 2:56 pm)
Greetings rootbeer1. BMW Financial Services' uses a pass / fail system to determine whether consumers can lease vehicles through it. This means that the only benefit that you will derive from your solid credit score is the ability to lease through BMW FS.
 
BMW is running a loyalty program that provides enhanced special lease money factors to current lessees on certain models right now. Unfortunately, the X5 is not one of them.
 
Vehicles' residual values are basically set in stone and individual dealers do not have the ability to alter them. However, dealers can mark-up vehicles' money factors to add hidden profit to deals. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 X5 4.8 with 15,000 miles per year are .00230 and 58%, respectively. Make sure that the dealer you are working with uses these numbers to calculate your truck's monthly payment.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#555 of 2270 For Car_Man by milti

Nov 11, 2007 (4:49 pm)

Car_man,
 
Thank you for all the information you provide.
 
I leased a 2006 X5 in June of 2006. It is a three year lease. I am thinking about getting a newer X5 (2007 or 2008) before my lease is up.
 
The reason for this is to get more options such as a trailor hitch and naviagtion without having to spend $2000 or so to acquire these options, only to lose this money when I turn the vehicle in.
 
My questions are:
 
What should I be concerned with (and know about) canceling a lease early even though I want to re-lease from the same dealer?
 
Does it affect my credit rating?
 
If I were to go ahead and pay to have the options installed and thereby raise the value of the car, how can this benefit me. Would it only benefit me if I were to buy the car at the lease's end or are there other benefits?
 
Thanks in advance

#556 of 2270 Return of Security Deposit by slailor

Nov 13, 2007 (11:12 am)

I have multiple SDs on 530 and lease is almost up. Does anyone know how long it takes after turn-in to get back the security deposits?
Thanks

#557 of 2270 Am I missing something on this deal? by nspags

Nov 15, 2007 (7:57 am)

Quoted to me on a 2008 X5 3.0
 
Monthly payment - $788 (including 7% nj tax)
Initial Payment - $2212
MSRP - $51,625
Selling Price - $49,125 ($2500 off MSRP)
Money factor - 00275
Resdiual Value - $30,975
 
When I calculated the payment with the above numbers I come up with bet 771-778. I know its not a big difference but hey...
 
Also there's a $825 BMW bank fee, is this negotiable? I saw the same number from someone else.

#558 of 2270 Re: Am I missing something on this deal? [nspags] by kyfdx@Edmunds HOST

Nov 15, 2007 (9:15 am)

Replying to: nspags (Nov 15, 2007 7:57 am)
The base acquisition fee is $625. They are marking it up the maximum allowable amount.
 
Where is the acquisition fee accounted for? In the upfront payment? If not, it would be added to the CAP cost, which could account for your discrepancy.

#559 of 2270 Re: Am I missing something on this deal? [kyfdx] by nspags

Nov 15, 2007 (9:38 am)

Replying to: kyfdx@Edmunds (Nov 15, 2007 9:15 am)
Acquisition is lumped into my upfront costs. This $2212 initial payment includes the first month's payment ($788), 3 year NJ motor vehicle ($350), BMW's bank fee ($825), and our dealer document fee ($249).

Messages Page 56 of 227

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