Last post on May 19, 2013 at 9:01 AM
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BMW X5, Car Leasing, SUV
#781 of 2262 Re: August MF and lease rate questions / and advice needed. [mistermayor]
Aug 21, 2008 (6:10 pm)
Hi, Mr. Mayor
I am having the same situation here, I know how you feel. I am driving a 2006 X5 4.4 fully loaded is almost up. Still 2 more months to go. I've been paying $710 per month includes nyc 8.375% sales tax. That was 3 years ago, the money factor was 0.00075 51% residual 15k per year.
Alway remember, try not to put a lot of money up front.
Only pay the 1st month and bank fee if they have to charge for. There was no bank fee when I picked up my x5 4.4 3 years ago. but they do now. Never understood ?
Here's the details for August 2008
2008 BMW X5 3.0 or 4.8
15K/ Year, 36Month Lease, The money factor is 0.00135, Residual Value for 15k is 55% NOT 53%. It sounds strange, but this is true.
Even the sales quote you a $758 includes sales tax, I think this is still too much.
I am not going to pay more than $710 per month not even with x5 3.0
I am hoping to see a 0.00075 money factor in September.
Good luck to you Mr. Mayor
#782 of 2262 Re: August MF and lease rate questions / and advice needed. [suv800]
Aug 21, 2008 (9:13 pm)
"The money factor is 0.00135, Residual Value for 15k is 55% NOT 53%. It sounds strange, but this is true. "
This may be the case for you as a current BMWFS customer....given to you because you have an existing lease. I'm not getting that rate because I'm not a current BMWFS customer but even so, I should get the .002 MF! But the .00215 I'm being quoted is too hight I think, perhaps the dealer is marking this up in anticipation of having to lower the sale price to closer or below invoice?
On the residual for August I thought it was set at 53 for the 3.0. Perhaps Car man can clarify the MF and residual for August?
I'm going to be patient...and wait till the current offers expire....and see what they come up with for September...would be great if the MF dropped to .00075 but that is unlikely.
#783 of 2262 Re: August MF and lease rate questions / and advice needed. [mistermayor]
by kyfdx HOST
Aug 22, 2008 (3:42 am)
As a new customer, if you opt for the security deposit waiver, they raise the money factor by .00015.. So, .0020 would become .00215..
Sounds like the case here... though your dealer should have pointed that out..
#784 of 2262 Re: August MF and lease rate questions / and advice needed. [kyfdx]
Aug 22, 2008 (8:30 am)
yeah the dealer didn't mention that....and I never opted to waive the security deposit..seems like they are padding their wallets over the term of the lease..Isnt it true though that you can negotiate a better MF? and failing that, you can reduce it by applying multiple security deposits? (MSD's) but it still blows..that said, money factor aside, how do you rate the deal? Its an 08 sitting on his lot! Thanks
#785 of 2262 4.8 under $800/mo??
Aug 25, 2008 (7:21 pm)
Has anyone been quoted a X5 4.8 with Sport Package + 20" Y Spoke wheels + Cold Weather + Navigation + iPod Adapter + Running Boards (MSRP of about 64K)for under $800/mo? I got quoted over the phone $843/mo but that is without any negotiating.
#786 of 2262 Re: 4.8 under $800/mo?? [alvallejo]
Aug 25, 2008 (10:11 pm)
I have not...but your details are sketchy...are u leasing or buying? what part of the country? what are the terms/lease/mf/residual/DP etc?
#787 of 2262 Re: 4.8 under $800/mo?? [mistermayor]
Aug 26, 2008 (6:46 pm)
I was interested in Leasing for 36months 15K miles a year. The quote came from Westchester BMW in White Plains NY. You pose a good question about the MF/Down payment and Residual. I was quoted over the phone and failed to take that info down.
#788 of 2262 Re: 4.8 under $800/mo?? [alvallejo]
Aug 27, 2008 (8:31 pm)
My advice....gets the msrp, sale price, residual and mf, then you can make a more informed decision.
#789 of 2262 Re: August MF and lease rate questions / and advice needed. [mistermayor]
by Car_man HOST
Aug 28, 2008 (2:44 am)
Hi mistermayor. Dealers are not allowed to charge consumers a lower money factor on leases than the buy rates that banks publish. Having said this, dealers are usually allowed to mark up banks' buy rates to add additional, hidden profit to deals. BMW dealers are notorious for doing this.
BMW Financial Services' current buy rate lease money factor for the X5 3.0 is .00200 with the payment of a security deposit at lease signing. If you opt to have your truck's security deposit waived, it would raise this factor by .00015, unless you are a returning BMW FS lessee which makes you eligible for a free security deposit waiver. Loyal BMW FS customers are also being given a special .00040 money factor reduction on leases of the '08 X5 right now.
You also can reduce your truck's money factor by making additional security deposits. BMW FS will reduce your vehicle's factor by .00007 for each additional deposit you make, up to a maximum of seven.
Prices Paid: Buying & Leasing Experiences Forum
#790 of 2262 Re: August MF and lease rate questions / and advice needed. [Car_man]
Aug 29, 2008 (7:37 pm)
I am interested in leasing a 2008 X5 4.8. Currently the offers are roughly: Put $7800.00 down on an X5 with a 3rd Row, Sirius, Navigation, Sport package, and heated front seats. Monthly payments would then be $741 per month. Or put $5000.00 down and pay 830.00. 36 months/10,000 miles. I finally quoted the TMV price but beyond getting the dealers below the MSRP, I am at a loss about how to proceed. In addition, does ANYONE in this forum have a favorite option? Is the third row so totally useless that I would be better off with a Tech package. I have parked for decades without one in NYC....I can plug in the MP3 the old fashioned way and this is a lease. ( I plan to buy in 3 years when the gas issues are a bit more settled.) Meanwhile I want the best driving machine I can get with enough money left over to support (and spoil) my cramped children. ADVISE is welcome!