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Prices Paid: Buying & Leasing Experiences BMW X5 Lease Questions
1108 messages, Last post on Nov 22, 2009 at 6:35 PM
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I have an 06 X5 3.0 and my lease expires in 2 months. Currently my lease payment is $630/month. Can anyone give me any info on how a release works with BMW Financial Services? I have no problems with the car would just like to drop my payments below $400/month. How does this work? Thanks!
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Replying to: smilsom (Nov 19, 2008 9:03 am) Make them give you a number to re-lease it, and the assumptions that go into that payment amount. You have to understand how they're getting to their number. If they figure that the new residual value will be quite low, X years out, and they apply a higher money factor to the new lease, then your payment may go up from $630, not down. It's all in the math. Good luck. |
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Looking at '09 X5 3.0. Premium, Cold Weather, Rear Climate, Tech Pkg, Comfort Access, Heads Up, IPOD. MSRP of $58,475. Quoted sell price of $56,720.75. Edmunds has invoice at $53,675. What do y'all think would be a reasonable sell price? Also, I plan on leasing - 36 mo/15K miles - was quoted residual of 57% which seems in line, but MF of .00215, which seems high - the forum says it should be .00175. Lastly, they dont have the car I want. They do have one in dealer search but it doesnt have the Heads Up which I REALLY want. Does ordering give me less negotiating power? Based on the numbers above, where do you think my final sell price should land and should I expect a lower MF? |
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I cant seem to locate the car I want with the options - specifically, no one has Heads Up, which I GOTTA have. Since I'll have this car for 3 years on the lease, makes sense to wait the short time to get exactly what I want. The dealer is telling me that, assuming we wrap up the order next week, that I can expect the car in the 4 week time period - so basically around Christmas. Has anyone ordered one? Any thoughts on experiences/timeline? I dont want that 4 weeks to turn into 3 months of 'where is my car?' Also, does ordering the vehicle versus purchasing from the lot diminish my negotiating power?
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Replying to: idrum (Nov 19, 2008 9:21 pm) for 5 years and doing the balloon seems a better deal and a lower monthly payment than leasing. I'm in the $550 mo. range with $6K down on a 3.0si. I think you guys are coming up with higher lease payments?
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Replying to: b4z (Nov 20, 2008 6:02 am) The balloon payment financing alternative that you are referencing is quite attractive thanks to the reasonable balloon (residual) and 0.9% interest rate. However, comparing a lease to this balloon payment financing alternative could prove to be a costly mistake, especially in the long-term. In a lease, BMW Financial is carrying the residual risk and is responsible for assuming the lease at lease-end and re-marketing the vehicle in the used car market. With the balloon payment financing alternative, you are responsible for the residual and can either keep the car by paying the balloon or attempt to re-sell the vehicle in the open market with no guarantees. Depending on your economic and driving situation, I would think twice about balloon payment financing. Best, Matt eights38  gmail.com
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I am trying to negotiate a deal from internest sales department of BMW dealers to purchase a 2008 X5 3.0 with premium, real climate control. They insist that is in my advantage to buy it than lease it. I have a MB E350 which I need to return by 12/30/08. I only have few more weeks to figure this out. If I buy it calculating around 50,000.00 by 0.9 financing for 60 months my payments including tax would be around $900 for 5 yrs!!! for a car with no warranty for the last year of ownership! what is the best deal this month for leasing the same car for 10,000 m/y for 36 months? what would be the residual value at the end of the lease? What should I be looking for. Would you please advise. Thanks
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Replying to: faye94 (Nov 20, 2008 1:23 pm) expensive tastes usually require deep pockets. Wish they didn't. |
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I am trying to Lease a USED 2008 X5 3.0 Premium, Tech, 3rd row seating and 11k miles with an asking price of 49k. My company requires that I lease. Does anyone know the residual value or the money factor for a used X5. The car is in So Cal I am told that the rates are less favorable than those for a new 2008. I assume this is because of lower Residual and Money factor. Are these set by BMW financial or by my sales team. Are they negoitiable? |
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I understand BMW financial will allow you to add extra miles to a lease at .16$ per mile up to the last 4 months of the term of the lease. Will they recalculate your monthly lease payment as the actual residual value of the car changes. For example if you add 20k extra miles for $3,200 to a 10k/yr 3 year lease and return a BMW with 50k miles its actual value is less. Will your monthly payment change?
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