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Prices Paid: Buying & Leasing Experiences BMW X5 Lease Questions
1116 messages, Last post on Dec 04, 2009 at 10:39 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: rezf (Mar 28, 2008 6:11 am) I am starting not to trust this entire process, including information obtained here. This is not my first lease, not even my first X5 lease. This will be my 3rd. When the X5 was first introduced it was a hot selling car as well. Everywhere I went salespeople where say 800.00+ for an X5 3.0 series with 12/36 lease package. After rigorous negotiation I got the same car for 650.00 including taxes. That was in 2002 I believe. In 2005 it was the same scenario -- I got the car for 630.00 including taxes. Now it is 2008 I have been quoted prices as high as 900.00. I recently was quoted a price of 702.30 down from the 799.00 including taxes. Each car was approximately $52K As I am sure you know. when you lease a car you get the money factor, the final sales price and the residuals. You can easily compare that vehicle with the one i wish to lease now. It is all pretty much the same. The money factor, the residual, in fact the 2008 X5 cost a little less. I cannot find a reason for this car to cost over $150.00 more. I know sales people will attempt to get as much as they can. But the consumer should be able to what is an acceptable lease agreement. You say it is all about the numbers, but in this case and I suspect many others the number don't add up. Just like I can't even create either one of my lease agreement on the basic lease calculator. Even using all the numbers on my old leases(which I still have). It should be easy to say at X5 3.0 50K 12/36 lease should be X 52K 12/36 lease should be X 54K 55 etc. X5 4.4 These are the standard lease agreements. at least consumers would have a ball park in which to negotiate. Anyway, I hired a consultant. I don't have the time to do the negotiations again and I shouldn't have to do this with a salesperson and dealer that I already had an acceptable deal with. It will cost me $500.00 but in the long run I will save over the course of the lease. This whole thing makes me wanna buy a saturn. ajastorm2002  aol.com
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It isn't as simple as you make it out to be. You SHOULD be able to reproduce the numbers you are being quoted using a lease calculator. Something is wrong or missing if you cannot. I have never negotiated an agreement that I was not able to reproduce from what the dealership is quoting. Please don't take this the wrong way, but I suspect you do not have an in depth understanding of how a lease works.....most people don't and that is how/why dealershiips screw people over. If you want the numbers verified, just provide them on this site and I would be happy to run it for you. To do so, I need the following: 1) MSRP of the car 2) negotiated selling price of the car 3) the upfront fees-ITEMIZED, including, but not limited to, acquisition fee, doc fee, MACO, title fees, any taxes, security payment (if required) etc. 4) the money factor used 5) the residual percentage used (comes from the term of the lease. Meaning 36 month lease at 12k miles yeear has a different residual than 10k miles) 6) the tax rate for your state and WHETHER THE TAX IS CALCULATED ON THE PORTION OF THE CAR YOU LEASE OR ON THE ENTIRE SELLING PRICE. Food for thought, the consultant makes $500 if he closes the deal for you; therefore, does he have your best interests in mind?? ONLY you can look out for yourself
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Replying to: rezf (Mar 28, 2008 1:21 pm) 2005 Sticker Pr. GCC 51,370.00 sale pr.ACC 50,035.10 agreed val vehicle 48957.75 inceptions 630.00 1st mo. 250.00 title, reg 625.00 Aquistion fee 105.50 NJ tire&REC/Doc Fee total incept 1611.00 mo. factor .0029 residual val 31002.00 2008 Sticker Pr.GCC 51,660.00 sale pr.ACC 50,011.03 agrd val veh. 49,002.75 inceptions 799.00 1st mo 375.36 Cap cost reduction. 825.64 motor vehical, lease term, doc fee, lux taxtitle, reg total incept 2000.00 mo. factor .0029 residual val 31047 20 NJ tax rate and I believe the tax in on the selling price of the car. This is what has been given to me. In my past two leases I negotiated them myself. I just don't have the time to go through the process that i went through the first two times. I din't crunch numbers as much as I talked to salespeople at dealerships - with knowledge of what other people paid. Not saying it is the right way- but a way and a way that has worked. The consultant only gets paid if he get a lease price at or under what we agreed would be a fair price. As he looks out for himself, he has no choice but to look out fo me. All i am saying is if people had a ball park on what a fair lease price would be a lot of the number crunching might not be necessary. If you buy totally into the numbers process, then you have to talk only number where the average consumer is at a drastic disadvantage. All I am asking here is to give me what would be a fair lease price for a 51K ish X 5 BMW shouldn't be this hard. I hope I am not comming across as insulting just frustrated , not at you nor the site - just the process. ajastorm2002 aol.com
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Replying to: rezf (Mar 28, 2008 1:21 pm) 2005 Sticker Pr. GCC 51,370.00 sale pr.ACC 50,035.10 agrd val vehicle 48957.75 inceptions 630.00 1st mo. 250.00 title, reg 625.00 Aquistion fee 105.50 NJ tire&REC/Doc Fee total incept: 1611.00 mo. factor .0021 residual val 31002.00 2008 Sticker Pr.GCC 51,660.00 sale pr.ACC 50,011.03 agrd val veh. 49,002.75 inceptions 799.00 1st mo 375.36 Cap cost reduction. 825.64 motor vehical, lease term, doc fee, lux taxtitle, reg total incept 2000.00 mo. factor .0021 residual val 31047. 20 NJ tax rate and I believe the tax in on the selling price of the car. This is what has been given to me. . ajastorm2002aol.com
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Sorry to re-post but we're trying to get something done this weekend. The 2008 X5 we want has a msrp of $49, 575. The dealer has come off $2,164 to make the price $47,411. We have a trade in that will net us $3500 to apply to the $47,411. In addition to the trade-in cash, the remaining up-front monies are $3097 (which consist of TTL $1,660, first month's lease payment of $628, and an apparent $809 security deposit). Our monthly payment will be $628 for 36 months/15k a year. We have previously owned a BMW so we are wondering why the large security deposit. Is the monthly payment in line? Do you think the deal price is on target or is there still some room to negotiate? Is invoice on this $45645? Thanks so much!
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Replying to: fishjill (Mar 29, 2008 8:52 am) based on the numbers you have quoted, the lease payment should be $602. I believe they are fully marking up the money factor from 0.0025 to 0.0029. Have them recalculate the money factor using the buy rate and lease should come out to $602 per month. security fee should also be waived if you have previously leased or financed through BMW Financial Services. If your previous BMW was bought outright or financed/leased through a third party bank, then security fee applies Good luck |
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Replying to: nj_bmw_byer (Mar 29, 2008 4:13 am) Have a look at this link http://forums.roadfly.com/forums/financing/6451130-1.html This is an archived list of BMWFS lease rates for April 2005. As you can see, the money factor for the X5 back then was 0.00125. In today's market, the buy rate money factor for the X5 is 0.0025. This reflects what I had previously said in a thread that manufacturers subside the interest and residuals to sweeten a lease deal to keep moving cars. The difference in money factor between 0.00125 and 0.0025 is why the same car today costs XX more. In 2005, your dealership raised the money factor from 0.00125 to whatever number to make your $630 a month (it was not 0.0021 as you had thought). That is why you were/are not able to calculate the numbers properly. Keeping things as simple as possible is the best way to weed your way through all the fees and get an honest number. Good luck with everything
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Replying to: rezf (Mar 29, 2008 2:26 pm) I did this with several vehicles: BMW, Porsche Cayenne, Range Rover. The money factor adds about 200.00+ dollars per month to the lease price of the vehicle. I have since gotten the price of the $53,155.00 BMW X5 down to 722.65 including taxes, down from the 799.00 excluding taxes. Just shows they were trying to beat me from the beginning. I even had one salesperson hang up on me insisting that if I am trying to purchase a BMW I shouldn't quibble over $20.00 - 30.00. rezf, thank you for your help and I hope I wasn't too obnoxious. When you are right I have no problem with admitting it. And you were ABSOLUTELY right. I still believe that consumers would benefit from knowing what the ballpark fair price for a decently equipped vehicle, so they might know where to start. So with that in mine I will share my experience thus far. The dealer i leased my present 2005 BMW X5 offered me a lease of 799.00 excluding taxes for the following car. X5 3.0, 36/12, Sales Price $51,660.00 with options: Tech pkg, coldweather pkg, rear climate pkg, xenon lights, premium pkgs,heated rear seats, ipod adapter.. I have since been offered for 722.00 including taxes for the same car at another dealership. So if anyone pays more than that, for a similarly equipped car, they might wanna ask another dealer. I will still try to get this car cheaper. If I do I will let you know, so that others will know the ball park of a NJ X5 with similar options. Also for those that want, between this current deal and the 799.00. I got offers of 772. 00 including taxes, 750.00 including taxes, before the 722.00. I would be happy to tell you the dealerships of my rejected offers when i finish - I may have to go back to them. rezf thank again -- oh yeah is the $722.00 including taxes a good deal? |
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Replying to: nj_bmw_byer (Mar 29, 2008 5:09 pm) What I was/am saying is the best way to figure out the best deal is look at the MSRP of the car. Find the invoice price on Edmunds.com, then add $1000-$1500 to the price of the invoice. This should be your Cap Cost. Do not put any money down...only pay the upfront fees...And insist that they use a Money Factor of 0.0025 to calculate the lease. Whatever that monthly payment comes out would be the best deal |
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Replying to: rezf (Mar 29, 2008 5:55 pm) |
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