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Prices Paid: Buying & Leasing Experiences BMW X5 Lease Questions
1096 messages, Last post on Nov 08, 2009 at 6:57 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: scouv1 (Nov 22, 2008 10:52 am) If you have the miles added to the contract, upfront, then the residual is reduced by $0.15/mile. regards, kyfdx
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Replying to: kyfdx (Nov 22, 2008 11:13 am) So if you need 25k miles per year it seems better to lease at 10k miles /yr with a residual around 62% and add the miles than to recalculate the lease based on a 3 yr old car with 75k miles. This assumes the you have to lease a car. |
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Please help me on a 2008 X5 3.0 lease in upstate NY. It is a holdover DEMO with 2,500 miles. MSRP $55,325, Selling price $49,700 Lease: 36 mo./12k miles Includes: Premium Pkg, Cold Weather Pkg, 3rd Row, Rear Climate, Rear DVD & Park Distance Residual is (56%)? & Money X = .00125 (3%) Monthly payment $699.66; included taxes and zero $ down payment Question 1: is this a good deal or could they come down? they wouldn't budge when I asked for accessories or lower payment. should i just take it at $699 or what is the REAL monthly # I can get this down to? dealer said "No X5 goes below $700 with zero down". Any truth to this? $2,405 due at signing (inception fees) $699.66 1st month $625 bank fee $225 office fee $155 plates $700 security deposit Question 2: can i negotiate any of the fees (bank & office)? Since the car is a demo I lose my BMW CCA loyalty rebate, and the dealer will still not budge. Dealer in NY said if I don't pull the trigger by Tuesday, he will not honor the offer and has other buyers wanting the car. Questiion 3: What can I get him to throw in or work with me on? Possible tire waranty since they are run flats? Please help me, I need to decide in next 48 hours. |
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Replying to: bmanpc (Nov 22, 2008 7:06 pm)
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Replying to: jayrider (Nov 22, 2008 8:10 pm) |
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Replying to: bmanpc (Nov 22, 2008 7:06 pm) First, the $225 "office fee" is just extra profit for the dealer. Negotiate that. You cannot negotiate the bank fee below what BMW Financial Services charges. The dealer can mark that up, but it appears they're not doing that here, so it's non-negotiable. Is .00125 the 'buy rate' MF for this model for a 36 month lease? I think it might be .00115. If so, then the dealer is making about $8 per month extra by slightly increasing the money factor on you. So there's $300 or so over 3 years. You have a question mark after the 56% residual figure. You need to get either the exact % or $ amount of the residual value from the dealer before you can calculate your payment. The dealer cannot arbitrarily change the residual value. That's set by BMWFS. It's my understanding that in the state of New York the taxes are all paid up front, so it becomes hard to figure out how your $699.66 payment "including taxes" is calculated. Given the MSRP and the $49,700 price you are getting, and using that as your cap cost, and 56% as the residual %, then the pre-tax payment would be $650.15. How you add tax to that is another story. Can you compare the $49,700 price to a new vehicle? What kind of a price could you get on a vehicle without 2500 miles on it? Maybe they've already given you a deeper discount than they would since it does have 2500 miles on it. The selling price is the only place it looks like you have any negotiating room, since it's a demo. You're getting a bit over 10% off, so it appears to me you do not have a lot of room there. I just boils down to how the dealer accounts for their "cost" on demos, and thus what kind of a deal they're willing to cut. I wouldn't look for much more than you've already got. They are running a business, and they DO need to make a little profit now and then, so you have to be realistic in your expectations. You're not going to get them to price the vehicle at $39,995.. The rest of the fees look normal. Good luck.
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Replying to: billmv (Nov 23, 2008 12:19 pm) I did look up the residual and it is 56%, but the actual # the dealer gave me is lower than the 56%. Based on his #'s he have me a 54.4% residual of #30,144, at 56% it should be #30,982. However, I have in writing a 56% #. Does this mean he is making the .015 on me or a difference of $868 total. Can the dealer play with these #'s? I'm not looking to get the car for a dealer loss, just a fair price, so my expectations are inline. As for taxes, my tax rate is 7.375% in NY or $1,860 over 36 months or $51.65/mo. So that computes with your $650/mo. calculation without taxes up front. Basically, the question is where can I deal? Is it on the selling price, maybe have them "throw in" an iPod adapter, maybe a wheel/tire warranty, etc...I'm not looking to get over, but want to be assured my deal is a solid one....any more advice? I really appreciate your input! |
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It seems people are paying more than bmw's current X5 4.0 lease offer. From bmw usa's website, for X5 4.0, monthly lease payments of $669.00 for 36 months based on MSRP of $60,525.00 (includes Premium Sound Package, Premium Package, Third Row Seating and Destination). Is this a good deal?
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Why can't any of the sales rep. give us the straight answer. The MSRP is 53575, final agreed price of 50,875. At first the monthly payment without tax was $808.00 p/m for a lease.After questioning the numbers, and going back and forth finally he quoted : Residual of 60% MF of .00175 700 refundable deposit Payments of 768? and then I questioned the numbers again , and finally he agreed to 699.89 a month without sales tax for 36 months and 10,000 month. and is not giving me any of the other numbers!! I do not know how to deal with them any more. I might as well buy the dam thing instead of leasing it. Any Idea any one!!! does anyone know how he is coming out to all these figures. I cannot trust any of them any more. What is the residual for 36 months on a 2008 and 2009? I think he wants to cover his discount?
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Replying to: faye94 (Nov 26, 2008 12:53 pm) 60% and .00175 are the correct numbers for 3yr/30K for an '09 X5 3.0 The last numbers I saw for an '08 were .00125 and 56%... but, that was October... I think they stayed the same for November. regards, kyfdx
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