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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: 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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Replying to: kyfdx (Nov 26, 2008 1:07 pm) http://www.bmwusa.com/Standard/Content/FinancialServices/LeaseOfferDetail.aspx?e- nc=YzdojlNoJgtAAlV9XOcZbg== Please enlighten me.
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Replying to: jh87 (Nov 26, 2008 3:50 pm) You can't calculate a lease payment without knowing the selling price or CAP cost. In the BMW website example: $559*/month for 36 monthsVehicle Registered outside N.Y. • $559 First months payment • $2,850 Down payment • $600 Security Deposit • $4,009 Cash due at signing Note the downpayment.. and yet, still no mention of the selling price.
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Replying to: kyfdx (Nov 27, 2008 4:42 am)
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Replying to: jh87 (Nov 27, 2008 8:39 am) Why do dealers quote a higher price? More miles, more options, less of a discount, taxes, registration fees, markups to the money factor and acquisition fee.. Any or all of the above.. regards, kyfdx |
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Replying to: jh87 (Nov 27, 2008 8:39 am) When you put money "down" you lower your payment. It's a bad idea to do that, so most people calculate their payments at zero "down" and only plan on paying the DMV fees, deposits, first month, etc. You can either roll the bank fee into the lease payment or pay it up front with the DMV fees, etc. If you do not pay it up front, and roll it into the lease, it will add about $100 to it due to the interest paid on it. You ALWAYS want to negotiate as low a selling price as you can, even on a lease. That price becomes your capitalized cost, which is used in the lease payment calculations. Assume you can negotiate, say, $3,000 off MSRP, and then redo your numbers using that as your cap cost. Calc them with and without the advertised $2,850 "down" and you'll see how that changes things too. Happy turkey day!
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Replying to: billmv (Nov 27, 2008 2:10 pm) |
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