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BMW X5, Car Leasing, SUV
Jun 11, 2008 (10:14 am)
I'm just checking out the X5 so I have no specific vehcile in sight but I don't see any recent postings about 24 months so here goes.
2008 X5 3.0i
24 Month Lease at 10k/yr.
Returning BMW FS customer
Also, on my current lease I paid the entire lease up front and never really got a sense of how much that saved me (if any). With BMW, what are the advantages (cost) of paying up front?
#738 of 2260 Re: X5 lease [postermike]
Jun 11, 2008 (10:59 am)
what are the advantages (cost) of paying up front?
It would seem that you are entitled to a refund of the interest you would have paid had you elected to make all the payments on time. Anyone know for sure?
SUVs and Smart Shopper
#739 of 2260 Re: X5 lease [tidester]
by kyfdx HOST
Jun 11, 2008 (11:25 am)
Generally, BMWFS pre-paid leases get a .0008 reduction in the money factor vs. a normal lease.. However, that deduction is only from the standard lease rate.. If the rates are subvented, then the reduction may be smaller or none at all...
Assume standard lease rate is .0028, and no subvented rates are available. The prepaid lease is figured with a discounted rate of .0020, just as if you were making the payments monthly.. then, the total of payments is added to get the pre-paid amount.... On a typical 36 month X5 lease, this might save you around $2000-$2500 in finance charges...
However, the X5 usually has a somewhat subvented lease rate... so, the savings would probably be lower than that, in a real-world example. For example.. right now the X5 has a MF of .0024, while the standard BMWFS rate is .00263.. The rate for a pre-paid lease would be .00183.. Making the savings about 2/3 of the generic example above...
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#740 of 2260 Re: X5 lease [kyfdx]
Jun 11, 2008 (7:48 pm)
Thank you! That's very helpful.
SUVs and Smart Shopper
#741 of 2260 Re: X5 lease [kyfdx]
Jun 12, 2008 (7:42 am)
Thanks. Since I always do 2 year leases, I'm sure it would be a bit less. However the savings would be much more than I'm making in interest from the bank and, even in investments these days.
Any numbers (residual % and mf) for a 2 year lease on a 3.0 in Atlanta, GA?
#742 of 2260 Re: X5 lease [postermike]
by kyfdx HOST
Jun 12, 2008 (8:13 am)
.0024 and 63% for 15K/yr.. 24 month
Add 2% for 12K
Add 3% for 10K
There may be some dealer incentives or lower MFs for returning BMWFS customers, but I'm not certain what those might be...
#743 of 2260 Re: X5 lease [kyfdx]
Jun 13, 2008 (12:04 pm)
.00025 MF reduction for returning customers which equates to .00215. I should know, that is what I got.
#744 of 2260 Advice: 2 vs 3 year lease
Jun 13, 2008 (4:39 pm)
I need an advice on 2 vs 3 years lease. I was leaning toward 3 years but then someone brought up the fact that I might have to replace tires. On the other hand the lease price will go up in 2 years, and having it for 3 years would let me pay less for one extra year.
So what do people think ? It seems like 3 years is the most popular option for this forum members.
#745 of 2260 Re: Advice: 2 vs 3 year lease [innajl]
by Car_man HOST
Jun 23, 2008 (2:26 am)
Hi innajl. I personally almost always go with 36 month leases instead of 24 month leases, unless the manufacturer has some sort of special promotion that makes the 2 year lease more attractive...which BMW does not right now. Your monthly payment will be much more attractive on a 3 year lease of this truck. As far as the tires go, just make sure to have them rotated on a regular basis and there's a good chance that you won't have to replace them, provided your mileage is not outrageous.
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#746 of 2260 X5 lease deal
Jun 30, 2008 (11:38 pm)
Does anyone know if the "option credit" for the premium package is still available?
What's the money factor and residual value for 36M/12K lease on X5?