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BMW X5 Lease Questions

2262 messages,  Last post on May 19, 2013 at 9:01 AM

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

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

Messages Page 57 of 227

#554 of 2262 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 2262 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 2262 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 2262 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 2262 Re: Am I missing something on this deal? [nspags] by kyfdx 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 2262 Re: Am I missing something on this deal? [kyfdx] by nspags

Nov 15, 2007 (9:38 am)

Replying to: kyfdx (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).

#560 of 2262 Re: Am I missing something on this deal? [nspags] by kyfdx HOST

Nov 15, 2007 (9:58 am)

Replying to: nspags (Nov 15, 2007 9:38 am)
Then... unless you are a returning lessee, there is a .00015 waiver bump in the MF, for not making a security deposit... Which moves the money factor up to .00290
 
If that isn't it, then I give up..
 
Keep in mind.. I haven't run your numbers..

#561 of 2262 X5 lease by milti

Nov 15, 2007 (12:39 pm)

Sorry, but I'm posting this message again to see if anybody may have some information/ideas for me.
 
  
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 pay for these options now, 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? Do they give you a break on any early termination fees?
  
Does it affect my credit rating?
  
If I were to go ahead and pay to have these 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

#562 of 2262 Re: X5 lease [milti] by billmv

Nov 15, 2007 (2:43 pm)

Replying to: milti (Nov 15, 2007 12:39 pm)
milti.....you should get rid of your current lease by having someone assume it. then you don't have to worry about early termination fees, credit, etc. Go to www.swapalease.com and sign up for their service.
 
I just picked up a great deal on a 2005 X5 about a month ago through them. You can have someone officially assume your lease through BMW FS (back in Hilliard, Ohio) and you're off the hook. The paperwork takes a couple weeks, but it's the answer. Then you can go get the new vehicle you want. BMW told me they do hundreds of these deals. As we used to say back in Montana when I was a kid...."It's slicker than snot on a doorknob."
 
Good luck!

#563 of 2262 Re: X5 lease [milti] by kyfdx HOST

Nov 15, 2007 (5:11 pm)

Replying to: milti (Nov 15, 2007 12:39 pm)
Hi, milti..
 
Since your question is more general in nature, rather than BMW specific, you might get a wider readership, and more answers by posting here:
 
General Questions about Leasing Vehicles
 
Good luck!
kyfdx

Messages Page 57 of 227

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