Last post on Dec 08, 2013 at 9:58 AM
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BMW X3, Car Leasing, SUV
May 07, 2013 (9:32 am)
Got this one
2014 X3 28i,
Base price - 39,600
Premium package (3,200)
Heated front seats (500)
Dest. / handling - 925
total 44225, selling price 41800,
12000 miles / year , 36 months
cash on delivery - 4,594 (incl drive off, 1st payment)
monthly payment - 476$. , before CA tax.
Is it fair?
#1096 of 1201 Re: Lease on X3 28i [ivanivanovich]
May 07, 2013 (10:07 am)
Why so much down? $4500 is a lot, what is your money factor? On a lease, the goal is to put down the least amount as possible. This is not a good deal...
Does the dealer have any 2013? I do not think there is much difference between a 2013 and 2014, you might be able to save some money..
#1097 of 1201 Re: Lease on X3 28i [flightnurse]
May 07, 2013 (10:17 am)
I know - trying to understand why it is so high. Got 2 offers with relatively high down payment...
#1098 of 1201 Best steps to follow when leasing
May 29, 2013 (3:11 am)
I am new to leasing and I have found this forum very educational.
What I would like help with, is the best sequence of actions to conduct a lease.
I have read that you shouldn't even mention lease to the dealer until you have settled on a purchase price. Is this the best first step?
Also what is negotiable other than price? Is MF or residual value negotiable or is this set by BMW?
Finally I am interested in a X3 28i and they now have both 2013 and 2014. Which one would be best to lease, I assume the 2014 because it probably would have a higher residual value but not sure if this is correct?
Thanks for your help
#1099 of 1201 Re: Best steps to follow when leasing [fantasyduck]
May 29, 2013 (9:26 am)
Price is the price whether you lease or finance it. You can negotiate the price of course but residual and MF are set by BMW, though dealers can mark it up to .00167 from the base .00127 as long as you qualify for that top tier rate.
The 2014's actually have a 2% less residual than the 2013's right now and you could get a better price on the '13. Its up to you if the new navigation, packages, and higher price is worth it or not to get a '14
#1100 of 1201 Re: Best steps to follow when leasing [jasonmdbmw]
May 29, 2013 (4:56 pm)
It seems strange to me that a 2014 could be 2% less residual than a 2013. Imagine a 2013 and a 2014 with exactly the same MSRP, fast forward to the year 2016, put 24000 miles on both cars, and then value the cars. The 2014 will NOT be valued at less than the 2013. NO WAY. Am I missing something?
Are you sure you are not confusing the Money Factor being 2% higher?
#1101 of 1201 Re: Best steps to follow when leasing [steevo]
May 29, 2013 (4:05 pm)
Hi steevo. The reason that certain 2013 models have higher residual values than 2014 models right now is that BMW artificially inflates its vehicles' residual values to essentially hide support. Higher residual values enable them to offer lower lease payments. When BMW ramps up its lease support on the 2014 model its residual values will eventually be higher than the residuals on the 2013.
Prices Paid: Buying & Leasing Experiences Forum
#1102 of 1201 Re: Best steps to follow when leasing [jasonmdbmw]
May 29, 2013 (5:00 pm)
What is the actual residual % on the 2013 and 2014?
Do you know what are the major differences between the 2013 X3 and 2014 x3?
#1103 of 1201 Re: Best steps to follow when leasing [Car_man]
May 29, 2013 (5:00 pm)
Interesting, to say the least. Thanks for the explanation.
#1104 of 1201 Re: Best steps to follow when leasing [fantasyduck]
May 31, 2013 (12:04 pm)
2013 residual is 57% and 55% for the '14 at 15k miles for 36 months. Add 2% for 12k miles and 3% for 10k.
The base price went up $750 from making standard most of the equipment that was in the Premium Package. Only major difference is the 2014 has the new NBT Navigation and full black intstrument cluster. The NBT Nav is faster, more streamlined for the radio/media menu structure, improved menus, advanced real time traffic info, weather info in the navigation map, and message dictation. Also, is clearer and better picture. BMW also re-did some of the equipment in packages so that is different as well