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You are in the Prices Paid - Buying & Leasing Experiences
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BMW X5, Car Leasing, SUV
#647 of 2374 just leased an X5 yesterday, pick it up next thurs.
Feb 24, 2008 (8:08 am)
This blog has helped me in making my final decisions on a 2008 X5si so i wanted to share my experience. I live on Long Island NY.. leased a 2008 X5si. yesterday. premium, sport, technology package, rear climate, running boards. 12K miles a year. 36mos. When i first spoke to the salesman I explained i was just looking and it would take a real good deal to make me sign. His first monthly price with taxes title and acquisition was 769.00. I told him it was too high and started to leave, he said wait and came back with a price of 744.00. after I told him I still wanted to think about it I. actually left and he came out to the parking lot to get me and said he would give it to me for 725.00. I agreed and now take delivery thursday. I thought it was a great deal with the options. Some stipulations were: I am a previous bmw owner(owner loyalty) which only waives the 500 security deposit. BMW is also running a deal till the end of this month on in stock X5's with a reduction of 2,500. I couldn't have gotten this deal if i ordered one. ( i tried after the fact and he said he couldn't) I am about 4,100 out of pocket including the first payment. Hope this helps. any questions JEGJR74aol.com Jim
#648 of 2374 Re: Cash (BMW) incentive on X5's till end of February [houston777]
Feb 24, 2008 (4:20 pm)
Apparently you missed a very important point on this forum....LRF mark up. You got hosed on the rate. Dealer marked up the LRF of .000255 by the allowable .00004 which probably added an additional $30 bucks to your monthly nut!
#649 of 2374 Re: Cash (BMW) incentive on X5's till end of February [houston777]
Mar 01, 2008 (10:32 pm)
Hi! How was the $2500 incentive factored in the cap cost? Does that mean your actual price was $1000 BELOW invoice? Please clear this up. Thanks.
#650 of 2374 Re: Cash (BMW) incentive on X5's till end of February [mannydom]
Mar 03, 2008 (6:56 am)
Hi...Yes that's right I got $1000.00 below Invoice.
Final price = $Invoice price + $1500 - $2500 + Tax
#651 of 2374 End of Lease Auto Value for a 2005 X5 3.0
Mar 05, 2008 (12:56 am)
My lease ends 4/23/08 for my 2005 X5 3.0. How can I tell if the vehicle is worth more than the stated residual value (58%) in the lease contract that it becomes "positve equity." If so, does it become a "trade in?" Thanks for any advice, please.
Any info on money factor and residual value for March 2008 for 2008 X5 3.0?
This is my first experience at the "end of lease" scenario. I know what option I want and that is to get a new 2008 X5 3.0. I am about to schedule the inspection at my bmw center. Should I apply now for financing a new lease with BMW FS which is my current leasing company? Will I get a break for being a returning customer?
#652 of 2374 Re: End of Lease Auto Value for a 2005 X5 3.0 [mannydom]
Mar 05, 2008 (5:02 am)
Chances are the residual is not going to be lower than what the car is worth; however, at lease end you are under no obligation to purchase the resdiual, you can just walk away from the lease. If you want to "trade-in" you would have to buy the car at the residual price from BMWFS and then trade the car in towards a new one.
Residuals have not changed, but money factor for March is 0.00210.
There are advantages to applying for a new lease with BMWFS, because as a returning customer they waive the Disposition fee on your current vehicle and also waive the security deposit on your next BMW.
There are owner loyalty programs on select BMWs (not X5, but 3 series and 5 series and 7 series) so you would also get a break there
#653 of 2374 Re: End of Lease Auto Value for a 2005 X5 3.0 [rezf]
Mar 05, 2008 (9:14 am)
Rezf...thank you for the comments and suggestions. Do you think the money factor will be even less for April when I'm ready to get another lease? I'm looking to lease a 2008 X5 3.0. Anyone have comments on the optional packages?
#654 of 2374 Thanks rezf
Mar 06, 2008 (10:15 am)
rezf...thanks for the heads up on the money factor. Told my salesman about it and lowered my lease payments by about 30+/mo.
manny...I ordered my X5 last month with the factor of .00255. I told the salesman that if they had a pull ahead program and/or any other incentive/rebate/factor that was better then I wanted it (they were buying my lease out 3 mos. early). They agreed. Picking up the car today.
#655 of 2374 Re: Thanks rezf [3rdgin]
Mar 06, 2008 (11:26 am)
You can put an application for the lease. This will lock you the rate and is good for 30 days, maybe even 60 days so check with dealer. If by April, the rates are lowered, the dealer should honor you the newer rate if it is lower.
I got mine FULLY loaded with every option possible, except 3rd row seats and rear entertainment. The only option that I feel you should NOT overlook is Active Steering. I never would have considered Active Steering, had it not been on my car already as I had the impression it made the drive feel artificial. FAR FROM IT! It is a must for this veicle. A breeze to navigate in tight spots and parking lots and at highway speeds, it becomes linear like a conventional steering feel.
#656 of 2374 good deal?
Mar 13, 2008 (11:29 am)
I am returning my leased 2005 x3 at the end of this month. I am looking at a 2008 x5: dk green, tobacco interior, cold weather package, ipod adapter, rear entertainment system, mats, msrp 51125, invoice price 47500, quoted sale price 48994, acq fee 625, mf .00210, zero down- I was told for all fees and 1st mo I would have to pay 1745.25, monthly payments $710 for 12k, 36 months.The residual is 60%
Also, as an aside, I think I might buy this car at the end of the lease. Does this make sense to do?
Is that a good deal?
We live in Mass.