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BMW X5, Car Leasing, SUV
#792 of 2374 Re: Is this a good deal? [eaw801]
Aug 29, 2008 (7:18 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 2374 Re: Is this a good deal? [socal59]
Aug 29, 2008 (9:42 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!
Sep 01, 2008 (7:35 pm)
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.
#795 of 2374 Re: [cofla99]
Sep 02, 2008 (7:03 am)
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 2374 Re: Is this a good deal? [bizzie]
Sep 02, 2008 (6:53 pm)
Where did you find this? By the time I got my dealer down in price, the dealership ran out of cars...
#797 of 2374 Re: [eaw801]
Sep 02, 2008 (8:09 pm)
MSRP? INVOICE? MF? RES %?
keep in mind I got a 3.0 not a 4.8
#798 of 2374 Re: [cofla99]
Sep 02, 2008 (8:25 pm)
My spouse drove both with me today. He liked the 3.0. I still think that you got a good deal if you feel that you have all of the power you want.
#799 of 2374 Re: August MF and lease rate questions / and advice needed. [eaw801]
Sep 03, 2008 (2:05 am)
Hi eaw801. The dealers that you are working with are asking you for way too much money down. Consumers can and should lease any vehicle that they are interested in without making any sort of capitalized cost reduction. Anyone who makes a large capitalized cost reduction on a lease risks losing part or all of it if their vehicle is totaled.
You will likely have better luck getting feedback on the specific options that you mentioned over in the "BMW X5" or the "BMW X5 - 2008" discussions.
Prices Paid: Buying & Leasing Experiences Forum
#800 of 2374 Re: August MF and lease rate questions / and advice needed. [Car_man]
Sep 03, 2008 (5:55 am)
I have significantly reduced the money down. The questions that remains concern the X5 4.8 vs the 3.0. Is the money worth the difference? This IS a 3 year lease, not a lifetime. Next BMW will not have a 3rd row. And does Sport affect th3 X5 3.0 performance. I apologize for mixing forums. There ard many more 3.0's still lft :that does affect negotiating.
#801 of 2374 X5 just leased info
Sep 03, 2008 (12:50 pm)
Just leased 2008 X5 3.0. Numbers below reflect special pricing which expired yesterday. I've heard that BMW loyalty still valid but residuals are going down and you don't get premium package discount. Got a wide range of quotes; there are very few cars that have minimal options. Most dealers in the Southern Cal area were honest and great to deal with. One in particular was awesome; one in particular was the absolute worst dealership and completely dishonest. Amazing the dishonest dealership sells so many cars.
X5 3.0 - Premium Pkg, Tech Pkg, Auto tailgate, rear climate, ipot, heated seats, running boards.
3 years 10k miles
Selling: just over $49,000
D.O. - around $1850 with zero cap reduct (1st month pmt, bank fees, taxes)