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BMW X5 Lease Questions

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

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

Messages Page 69 of 227

#677 of 2262 Re: 2005/2008 X5 numbers requested[rezf] by nj_bmw_byer

Mar 29, 2008 (5:13 am)

Replying to: rezf (Mar 28, 2008 2:21 pm)
Thank you for any quick response you might give to these numbers. There was a typo concerning the moneyfactor in the 2005/2008 BMW X5's. It is 0021 on 0029. the 0029 was the money factor on the Cayenne that I am also negotiation.
  
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

#678 of 2262 Need some quick help on Lease info by fishjill

Mar 29, 2008 (9:52 am)

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!

#679 of 2262 Re: Need some quick help on Lease info [fishjill] by rezf

Mar 29, 2008 (2:17 pm)

Replying to: fishjill (Mar 29, 2008 9:52 am)
fishjill,
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

#680 of 2262 Re: 2005/2008 X5 numbers requested[rezf] [nj_bmw_byer] by rezf

Mar 29, 2008 (3:26 pm)

Replying to: nj_bmw_byer (Mar 29, 2008 5:13 am)
nj_bmw_buyer
 
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

#681 of 2262 Re: 2005/2008 X5 numbers Thank You! [rezf] [nj_bmw_byer] [rezf] by nj_bmw_byer

Mar 29, 2008 (6:09 pm)

Replying to: rezf (Mar 29, 2008 3:26 pm)
Thank you. I re calculated the numbers my self on my financial calculator and they came out correctly - just as you said. A change in the money factor can make all the difference. if you (ACC - Residual val)/36 the payments for a 50ish vehicle averages about 550.00. Once you add the money factor that price can easily boost to over 700+.
 
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?

#682 of 2262 Re: 2005/2008 X5 numbers Thank You! [rezf] [nj_bmw_byer] [rezf] [nj_bmw_bye by rezf

Mar 29, 2008 (6:55 pm)

Replying to: nj_bmw_byer (Mar 29, 2008 6:09 pm)
nj_bmw
 
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

#683 of 2262 Re: 2005/2008 X5 numbers Thank You! [rezf] [nj_bmw_byer] [rezf] [nj_bmw_bye by rezf

Mar 30, 2008 (6:59 am)

Replying to: rezf (Mar 29, 2008 6:55 pm)
At $1000 above invoice, the lease payments on the 2008 X5 you are considering would be $693 per month before taxes. I say $1000 per month, because that is a deal that can be had any day of the month at the dealership I purchased my X5 from. The market is just too soft for some dealers to justify not discounting that much

#684 of 2262 Re: 2005/2008 X5 numbers Thank You! [rezf] [nj_bmw_byer] [rezf] [nj_bmw_bye [rezf] by nj_bmw_byer

Mar 30, 2008 (8:28 am)

Replying to: rezf (Mar 29, 2008 6:55 pm)
Thank you again. I am finding that is an easy and practical why to assess the price of a lease. Now the problem is getting a salesperson to agree with you. Also could you give me the residual percentage on the 2008 X5 3.01.
 
I might go with the 722.00 per month including taxes. That is closer to what you said a fair price would be. Also I was going to roll the taxes into the monthly lease payment, but the money factor would be on that amount so I am paying them up front.
 
Thanks again
I will let you know how i made out

#685 of 2262 Re: 2005/2008 X5 numbers Thank You! [rezf] [nj_bmw_byer] [rezf] [nj_bmw_bye [rezf] by mannydom

Mar 30, 2008 (7:24 pm)

Replying to: rezf (Mar 29, 2008 6:55 pm)
rezf...Thank you from me too. I've been following this thread closely for fear that I 'd be taken to the cleaners, too. Msg# 682 assured me that my thinking process in leasing is going the right way...i.e. negotiate first as close as you can from invoice price and once price has been agreed on only then talk about leasing issues.
 
Again regarding Msg# 682, what is included in upfront fees? Also you mentioned in Msg# 652 that the March money factor is/was 0.0021. What happened? Why is it now 0.0025? Will this be different for April? What about residual% for April?
 
Sorry for the questions, everyone. Thanks in advance. Good luck to all of us as we try to get the best deals.

#686 of 2262 Re: 2005/2008 X5 numbers Thank You! [rezf] [nj_bmw_byer] [rezf] [nj_bmw_bye by rezf

Mar 30, 2008 (7:44 pm)

Replying to: mannydom (Mar 30, 2008 7:24 pm)
manydom
That was my type mistake re money factor. For march it is 0.0021 not 0.0025. The rate for Feb was 0.0025 .
Residuals do not typically change from BMWFS (they are already inflated to make leases more attractive). The factors that likely change from month to month are the money factor and any incentives/cashbacks towards a new vehicle. Note, this is model specific and only given if they want to move a particular line more rapidly to deplete excess inventory. The other thing that changes from month to month is what's called "owner loyalty program." For this, they allow existing BMWFS customers (ones that have financed/leased) or ones whose contracts had ended in the past 6 months a special incentive towards a new lease (which is some cash back and a lower money factor)
As for April, I do not think the money factor fluctuates with the Fed rate as seemlesly as some think they do. If BMW wants to lease more cars, they will lower the rate, plain and simple. Spring is a VERY active and busy season for dealerships so I don't think so. However, if you want a bargain, you can count on August, as BMW wants to clear left-over 2008s before introducing the model year 2009 in September-October

Messages Page 69 of 227

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