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BMW X5 Lease Questions

1110 messages,  Last post on Dec 03, 2009 at 5:07 PM

You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx

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


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#787 of 1110
Re: 4.8 under $800/mo?? [mistermayor] by alvallejo
Aug 26, 2008 (5:46 pm)
Reply

Replying to: mistermayor (Aug 25, 2008 9:11 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 1110
Re: 4.8 under $800/mo?? [alvallejo] by mistermayor
Aug 27, 2008 (7:31 pm)
Reply

Replying to: alvallejo (Aug 26, 2008 5:46 pm)

My advice....gets the msrp, sale price, residual and mf, then you can make a more informed decision.
#789 of 1110
Re: August MF and lease rate questions / and advice needed. [mistermayor] by Car_man HOST
Aug 28, 2008 (1:44 am)
Reply

Replying to: mistermayor (Aug 22, 2008 7:30 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.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#790 of 1110
Re: August MF and lease rate questions / and advice needed. [Car_man] by eaw801
Aug 29, 2008 (6:37 pm)
Reply

Replying to: Car_man (Aug 28, 2008 1:44 am)

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!
#791 of 1110
Re: Is this a good deal? [bizzie] by eaw801
Aug 29, 2008 (6:46 pm)
Reply

Replying to: bizzie (Jul 31, 2008 8:01 pm)

Hi, Much better than I am getting.
What dealership did you use? I have been looking in NYC, Southampton, NY, Tenafly (no quote), and Bayside Queens. If I put down 5K and pay $ 816 per month, I wil have Sirius, heated front seats, Navigation, 3rd row, and Sports package....So far.
#792 of 1110
Re: Is this a good deal? [eaw801] by socal59
Aug 29, 2008 (7:18 pm)
Reply

Replying to: eaw801 (Aug 29, 2008 6:46 pm)

Both you guys putting money down on a lease, if you scroll up the pages you'll soon find out that you should never put money down on a lease. If the vehicle is totaled or stolen you will loose your entire down payment. Plus the monthly payments you are getting are not much lower than putting zero down except for the first payment and assorted fees. I'm no expert in this but I do know that. I'm about to end my lease on my 2005 X5 as as I recall my first payment was like $1700 including deposit, last payment and a few fees. I had a 39 month lease 59% residual money factor was pretty low, 15K miles per year $532 month. Now I'll have to probably add at least $200 to that payment for equal car. I know residuals have gone down to 53% now. BMW doesn't want to eat it at the end of the lease like they will with mine.
#793 of 1110
Re: Is this a good deal? [socal59] by mistermayor
Aug 29, 2008 (9:42 pm)
Reply

Replying to: socal59 (Aug 29, 2008 7:18 pm)

Socal59 is correct...putting money down on a lease is probably not the best thing to do...for the reasons mentioned above. If your concern is reducing your monthly payment, then pay multiple security deposits to reduce the money factor (the interest rate u pay, see Car_man's earlier post) The advantages to doing this are 1) you lower your monthly payment and 2) you get your multiple security deposits back at the end of your lease! BTW, the current X5 .0020 MF and 53% residual, plus the option credit are sticking around for the month of September, so don't rush into leasing an '08 before sept 2'nd!
#794 of 1110
by cofla99
Sep 01, 2008 (7:35 pm)
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Ok guys I just got my X5, 3.0 today at hollman BMW in pembrroke pines florida .
Premium pack, tech pack, 3rd row, ipod, rear climate, power trunk, running boards, 1 year sat radio, bmw assist.
Black on black, bamboo.
36 mo, 12k miles, $792 mo, $0 down payment.
MSRP $56,870 EDMUNDS INVOICE $52,290 "Dealer invoice" $52600 (I know it sounds weird but I saw the dealerspeed.net screen and that was the ammount it showed)
money factor .0020 residual 55% extra miles .16 during lease over milage .20 new BMW customer.
Got 6000 dolars of MSRP for a final sale price of $50870 ($1420 bellow invoice) tried to get the full $2590 premium pack credit bellow invoice but after dealing with 2 different sales man, a manager and waking out twice in 3 days I decided to take the deal. probably with more time to quote several dealers you might get it, in my case they didn't have to many cars with the features I needed or the color we liked, beware long wait at dealership just to talk to a salesman, dealer were not reponding e-mails.
Did I mentioned I also got floor mats, trunk linner and 2 nice dealer key chains!
 
Bought the tire protection plan in cash so I did not brake that $800 mo mental barrier if you want to add it to de deal is $21 more a month on 36 months or 649 + tax.
 
I saw new lease programs for sept, same residuals, same money factor no more premium pack incentive I think tomorrow is the last day to get it.
 
Hope this helps, the car is parked outside, cant wait to take drive it again tomorrow.
Thanks for all the people that posted their experience here, without it I wouldn't be able to get even close to this deal.
 
THANKS
#795 of 1110
Re: [cofla99] by eaw801
Sep 02, 2008 (7:03 am)
Reply

Replying to: cofla99 (Sep 01, 2008 7:35 pm)

Here is the best deal I have gotten on the X5 4.8: $5000down and $824 per month for
3rd Row, Rear Climate, Sirius with 1 year, and the Sport, Tech, Premium, and Cold Weather packages, probably Ipod as a give me.. 3 years/ 10,000 miles. The only way to do better is to take out Sport it seems. Any color I want. FEEDBACK???????
#796 of 1110
Re: Is this a good deal? [bizzie] by eaw801
Sep 02, 2008 (6:53 pm)
Reply

Replying to: bizzie (Jul 31, 2008 8:01 pm)

Where did you find this? By the time I got my dealer down in price, the dealership ran out of cars...

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