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BMW X5 Lease Questions

1108 messages,  Last post on Nov 22, 2009 at 6:35 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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#867 of 1108
Re: End of Lease Decision [billmv] by duncan66
Dec 05, 2008 (9:51 am)
Reply

Replying to: billmv (Nov 30, 2008 9:42 pm)

billmy - thanks for the info. I called BMWFS and they indicated that I could buy the car from them directly for its residual, as per the contract, at a rate of 6.4% currently or I could see if the dealer could offer something better. The dealer indicated that if I were to buy the car through them it would effectively be as a CPO since they would buy it from BMW and then sell it to me at potentially a lower financing rate than that quote by BMWFS. I assume the car cost for that will be higher than the residual by virtue of the CPO seal etc. I was curious if BMWFS contacted you directly or through the dealer since the dealer suggested route seems more costly from my end. Just curious. Thanks
#868 of 1108
End of lease questions by milti
Dec 18, 2008 (12:15 pm)
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Carman & Kyfdx,
 
I have a 2006 X5 with a 36 months/15 k miles per year lease, which is ending in June 2009. Unfortunately, I'm at 41,000 miles right now.
 
Is it true that I can call BMWFS and purchase more miles? And if so are their penalties that may come up when I turn the vehicle in? Or decide to purchase the vehicle?
 
Or is it better to turn the vehicle in early and get another BMW?
 
Thanks
#869 of 1108
Re: End of lease questions [milti] by kyfdx HOST
Dec 18, 2008 (12:28 pm)
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Replying to: milti (Dec 18, 2008 12:15 pm)

Is it true that I can call BMWFS and purchase more miles?
 
Yes.. $0.16 each.. Looks like you'll need about 5900 more miles.. That's $944. They'll even amortize it over your remaining payments, if you don't want to pay it all at once.
 
And if so are their penalties that may come up when I turn the vehicle in? Or decide to purchase the vehicle?

 
If you are still over, after purchasing extra miles, they are then $0.20 each.. If you think you might purchase, then don't pay for extra miles now, as that money will be lost.
 
Or is it better to turn the vehicle in early and get another BMW?

 
Probably the most expensive option..
 
regards,
kyfdx
#870 of 1108
kyfdx re lease return by jayrider
Dec 18, 2008 (1:03 pm)
Reply

Replying to: kyfdx (Dec 18, 2008 12:28 pm)

In general, do you have to turn in your car to the original dealer if you negotiate a better rate at a competing store? Does the policy vary among manufacturers?
#871 of 1108
Re: kyfdx re lease return [jayrider] by kyfdx HOST
Dec 18, 2008 (1:39 pm)
Reply

Replying to: jayrider (Dec 18, 2008 1:03 pm)

You can generally turn your BMW into any BMW dealer, if they are willing. If they are selling you a new car, they are usually more than happy to do so...
 
Can't say for other makes/banks...
#872 of 1108
Re: End of Lease Decision [duncan66] by billmv
Dec 18, 2008 (11:08 pm)
Reply

Replying to: duncan66 (Dec 05, 2008 9:51 am)

duncan66......sorry for the delay. I called BMW FS. They did not call me. I asked what they'd sell the vehicle for, and she immediately knocked $4,000 off the residual. Who knows if they would have gone further. I knew I didn't want to buy it, so I didn't press it. Thus, I had no dealings with my local dealer. I just turned it in on the last day.
 
I don't know what a dealer would pay BMW FS so they could turn around and sell it to you. They would have to make a few bucks in there somewhere, so it seems working through the dealer would be more costly.
 
Hope that helps.
#873 of 1108
Is this a good deal? by ryo998
Jan 07, 2009 (9:29 pm)
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Just spoke on the phone to a dealer for a '09 X5 3.0 with technology, heated front seats, running boards, and ipod adapter. MSRP is 51725. Was offered $685 + tax, with $3000 drive off. The term is 36 mo with 12K/year.
 
Is this a good deal?
 
cvp
#874 of 1108
Re: Is this a good deal? [ryo998] by asteinberg
Jan 07, 2009 (10:33 pm)
Reply

Replying to: ryo998 (Jan 07, 2009 9:29 pm)

Sounds to me like your 3000 driveoff includes at least $500 cap reduction, or at least $15 monthly -- which makes it $700 a month. If this were 15000 miles, that would probably be at least $730 a month,
Depends how badly you want this car.
My wife chose between an Mercedes ML350 and Lexus 400H, both loaded with MSRP of $53K, a bit higher than yours, with 15000 (not 12000) miles, no cap reduction, for $580 monthly. That's $150 a month x 36, or $5400. I don't think it's worth $5400 a month extra for the X3
#875 of 1108
by ml2005
Jan 12, 2009 (6:10 pm)
Reply
Anyone know the current MF and residual for 2009 X5 4.8?
One dealer quoted me .0022 MF and .54 residual.
#876 of 1108
Re: Is this a good deal? [asteinberg] by gtreger
Jan 16, 2009 (8:12 am)
Reply

Replying to: asteinberg (Jan 07, 2009 10:33 pm)

Sorry to post this in the BMW forum but i am looking at the ML350 too and I wanted to confirm that you said $580/month with no cap cost reduction? sounds like a phenomenal deal can you share how you managed to get this

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