Last post on Dec 02, 2013 at 6:14 PM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW X3, Car Leasing, SUV
#1013 of 1193 Re: Lease X3 xDrive28i in Boston [maxlev]
Jan 20, 2013 (7:45 am)
Hello maxlev. BMW Financial Services' January buy rate lease money factor and residual value for a 36-month lease of a 2013 X3 xDrive28i with 12,000 miles per year are .00130 and 59% for consumers who qualify for its top credit tier.
I am not personally intimately familiar with what the market is like for the X3 right now. I do know that BMW had a huge December, sales-wise, and that some dealers are fairly light on inventory. That isn't helping selling prices any this month. If I was in the market for this vehicle, I personally would shoot for a selling price of say $1,000 over invoice and see what happens. You can find the exact invoice price of this model in the New Vehicle Pricing section of Edmunds.com.
Prices Paid: Buying & Leasing Experiences Forum
#1014 of 1193 Re: Is this a good deal? [Car_man]
Jan 20, 2013 (10:06 am)
Hi Car Man,
Thanks for your reply. I asked the dealer the very same question regarding exactly where the $2200 goes. He replied that it is broken down into the first month payment, dealer fee, tag and title and the rest goes towards the cap cost reduction. Does that sound ok?
#1015 of 1193 Re: Good deal? [jc_hills]
Jan 20, 2013 (2:10 pm)
jc hills, no problem. The True Car invoice is probably correct, the Edmund's invoice price seems to leave out the MACO and training fees ($600).
With 59% residual, those numbers look correct and fair. The only thing left to do is try to negotiate the acquisition fee down to $725 from $925, like some have done on this forum.. and try to negotiate the selling price of the car down to invoice or a few hundred under invoice. The savings from there can pay for 1/4 to 1/3 of your tire warranty should you get one!
If you're ready to buy, the ball is in your court and they should have no problem selling to you at or little under invoice.
See my post above regarding tire warranty. I paid $1100 for 3 years, which seems overpriced, but I'm worried about rim damage (due to poorly maintained streets in downtown LA) so would rather have peace of mind and get BMW's tire and rim warranty. If you only need tire warranty, Discount Tires quoted $395 to insure four 18" Pirelli P7 (V rating) Run Flats. Let me know how much you get your tire and rim warranty for. Thanks!
#1016 of 1193 Re: Lease X3 xDrive28i in Boston [Car_man]
Jan 20, 2013 (2:20 pm)
I guess it depends on where you live, but I had 3 dealers around the Los Angeles area offer invoice on the X3. Also, Edmunds.com is leaving out the MACO and training fees in their invoice price, so you should add around $600 to get the true invoice price.
#1017 of 1193 Single Payment Lease
Jan 24, 2013 (7:40 pm)
Whean leasing a X3, what moneyfactor would be used when doing the single pay lease?
Seems for the normal lease it is 0.00125 right now.
#1018 of 1193 MF and Residual on x3 35i
Jan 26, 2013 (3:16 pm)
Hi Car Man,
Can you provide the latest residual and MF for a 2013 x3 35i for 36 months with 10K miles per year? I would qualify for the top credit tier, car will be titled in Florida but leased from a dealer in Illinois or Michigan.
Appreciate your help!
#1019 of 1193 Help needed on offer from dealer
Jan 29, 2013 (5:10 pm)
So I'm trying to finalize a deal after finally finding the vehicle I wanted with the right options, working to get the best possible price. I located a 2013 x3 35i optioned the way I'd want it, somewhat aggressively priced since it's a demo with 8000 miles. I need some advice on whether this offer from the dealer is really bad (I don't think it's great) and, if so, suggestions on how to best get the financials in line. Here's the deal:
2013 x35i premium w/ sports appearance, tech, convenience, radio, and apps
Demo vehicle, 8000 miles, in service 4/2012
MSRP = $54,245
Selling Price = $46,691
Lease Term = 36 Months, 10,000 Miles / Year
Money Factor = .00170 (I keep seeing .00125 - .00135 on here)
Residual = 60% BUT salesman claims BMW will reduce the residual by $2,271 'because of miles on the vehicle'
Payment = $651.25 (with zero capital reduction)
Appreciate any suggestions - good deal / bad deal, best way to counteroffer? My math says that the payment should be more like $552 / month MF of .00125 and 60% residual, the $2,271 residual reduction is throwing me, not sure if that's reasonable.
#1020 of 1193 Re: Help needed on offer from dealer [ken954]
Jan 29, 2013 (5:44 pm)
Ultimately, a good deal comes down to only 3 things, the selling price, money factor, and fees. The selling price you can negotiate; check the invoice on that car with those options and you should aim for invoice or lower. The MF is set by BMW finance, and it depends on your credit score, and with a score of 740 or higher, MF should be around .0013. Fees, they should be able to tell you upfront what the fees will be (check my previous posts for fees I paid). For your reference, I was quoted on a demo 2013 X5 diesel with around 12,000 miles for well below invoice. Just my 2 cents.
#1021 of 1193 Re: Help needed on offer from dealer [ken954]
by kyfdx@Edmunds HOST
Jan 29, 2013 (8:10 pm)
The residual reduction is $0.30/mi. for any miles over 500 (I think), so that looks right. Which should also give you a good idea of how big of a discount you should get compared to a new model. It should be more than that additional residual reduction.
The maximum markup on the MF is .0004, so it looks like they are taking the max.. Most dealers that markup the money factor also bump the acq.fee the max as well ($925 vs $725)
Best way to counteroffer? Tell them you won't pay a marked up MF, or no deal.. That alone will knock $32- $35 per month off..
#1022 of 1193 Re: Is this a good deal? (Quote #2) [okcloo]
Jan 30, 2013 (3:33 am)
A tire warranty for $1,100? That seems like a lot of money for some insurance against potential, not factual, tire damage. As always such "warranties" are designed not to save the customer money but to provide profit for the dealer and warranty provider. Most consumer advocates seem to advise not to purchase such things.
Experienceing "a nail every two years" seems very unusual. I don't think I have had more than three or four nails in thirty years. I have never destroyed a rim.
In any case, on a three year lease that would mean one tire will be replaced. Certainly not worth $1,100 or more.
The buyer would be better served to put the $1,100 in a savings account to cover any tire damage occuring during the lease. If no damage, the buyer, not the warranty company, will have the $1,100 at the end of the lease.