Last post on Dec 08, 2013 at 9:58 AM
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BMW X3, Car Leasing, SUV
#1003 of 1201 Re: Is this a good deal? (Quote #2) [georgiagirl13]
Jan 17, 2013 (1:58 pm)
That is the correct payment for those numbers. My lease calculator shows the same, to the cent.
Dealerships will charge you fees in different ways so you have to watch out. For example, I was charged $80 doc fees + 385 licenese fee + misc. = TOTAL of $508.20, this excludes 9% tax on cap reduction, 1st month payment, and acquisition fee. It looks like they bundled up bunch of misc fees and called them license fees for you.
I would ask them to disclose ALL of the fees to you (itemized) before you sign anything.
How much are they asking for tire warranty on X3 i28, 3 years?
#1004 of 1201 Re: Is this a good deal? (Quote #2) [okcloo]
Jan 17, 2013 (10:23 pm)
Thanks okcloo for checking the numbers. They haven't yet mentioned tire warranty and I was unaware that it was something I should discuss during negotiation. Please let me know the warranty specifics I should ask for? What did you pay?
#1005 of 1201 Re: Is this a good deal? (Quote #2) [georgiagirl13]
Jan 18, 2013 (12:04 am)
The tire warranty is serviced by a 3rd party company that has contracted with BMW, and may differ from dealer to dealer(?). The one I got is covered by "Safe-Guard Products International, LLC" and it covers tires and rims with no deductible. It's something they offer at the end of the deal, along with other insurances. I literally was on my phone, during negotiations, searching for prices other people paid. A quick google search showed that it varied from 900 to 1700 for 5 years. They quoted around $1700.00 for 3 years and I negotiated down to $1100.00 for 3 years. I'm sure others paid less, but each run flat tire run around $350 in my area and I get a nail or two every year so it's worth it for me. Supposedly you can't get these tires patched, or BMW will charge you if you return the car with a patched tire. I just wished I knew what other people were paying so I could have been in a better position to negotiate. At least I have 30 days to cancel if I find a better 3rd party insurance.
#1006 of 1201 Re: Is this a good deal? (Quote #2) [georgiagirl13]
Jan 18, 2013 (12:15 am)
BTW, the deal I was able to negotiate was a sell price of $43,994.99. The MSRP was $47,545 (tech pkg, prem pkg, cold weather, aluminum roof rails), invoice was $44,340.00.
Jan 18, 2013 (3:09 pm)
Ok, so it seems that I got a crazy low price according to all dealers and nobody can beat it. From what I heard, and I called about 4 different dealers is that I am getting the payment for a Basic X3 with Sunroof (thats it) and instead receiving and X3 with a lot more options. this is the offer:
X3 28i with Sunroof, Roof rails, leatheratte, distance sensors, BMW assist, XM 1 year with 10k and 36 months, $0 down (only fees, tags and 1st month for $2k).
Payment $499 + tax
#1008 of 1201 Re: Good deal? [jc_hills]
Jan 18, 2013 (4:57 pm)
Invoice on that car with those options is $39,690, TMV is $40,904. So you were quoted 500 over invoice and 714 under TMV, which is a fair deal. The first offers I got were 500 to 700 over invoice, but ultimately I got under invoice.
To get a payment of $499 + tax with MF .0013 and 61% resid, your cap cost is $41,115, which means your total cost to lease the car is $2,925. $925 is probably the acquisition fee, the remaining $2000 goes towards 1st month, license fee, doc fee, and misc fees. That number seems pretty high to me, as I paid $2,140 in TOTAL fees, which includes acquisition, 1st month, license fee, doc fee, and misc fees.
Bottom line is they quoted you a fair selling price on the car, but they are charging too much in fees, according to your numbers. Just my 2 cents.
#1009 of 1201 Re: Good deal? [okcloo]
Jan 19, 2013 (5:46 am)
Thanks okcloo, the total fees including 1st month are $2,057 so I am assuming just the fees are $1524 (deducting the 1st month + tax). I still need to receive the breakdown. I had the residual wrong, it is actually 59%.
The invoice price I got from True Car is 40,290 (Sunroof, XM, BMW Assist, Distance park, roof rails and include the 895 destination charge).
Any thoughts on purchasing the tire warranty? I have not received th official quote, but sales guy said about $1,000. Is it worth it?
#1010 of 1201 Lease X3 xDrive28i in Boston
Jan 19, 2013 (8:03 am)
I'm looking to lease an x3 xdrive28i w/metallic paint, leather, cold weather I and II, premium package, premium sound package, and technology package.
Msrp is around $49k. Looking for 36month lease 12k per year.
What is typical selling price, residual and money factor for this model in Boston this month?
Anyone else feel free to weigh in with opinions. Also considering Acura RDX and VW Toureg.
#1011 of 1201 Re: Is this a good deal? [georgiagirl13]
Jan 20, 2013 (7:37 am)
Hi Georgiagirl13 . Using the numbers that you provided in your post (the money factor looks good BTW), I estimate that this car would have a zero down, pre-tax monthly payment of around $598.11. That's pretty darn close to what you were quoted.
The amount that's due at lease signing sounds slightly high though. Do you know what it includes? You're paying sales tax in your monthly payment so not that. I'm sure that it's the $600 monthly payment and BMW Financial Services' $725 acquisition fee. Those two things should total $1,325. So what's the other $875% Title, registration, etc...?
Prices Paid: Buying & Leasing Experiences Forum
#1012 of 1201 Re: Is this a good deal? (Quote #2) [georgiagirl13]
Jan 20, 2013 (7:41 am)
Hi georgiagirl13. The doc fee does look a little high. Most dealers charge one, but many charge less than that.
Prices Paid: Buying & Leasing Experiences Forum