Last post on Dec 08, 2013 at 9:58 AM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
BMW X3, Car Leasing, SUV
#1124 of 1201 Re: 2013 x3 28i payment question [tarusse1]
Jun 27, 2013 (9:17 am)
There are many factors related to lease payments, the biggest factor is credit score, if you do not have top tier credit this will be an issue. Second, put the least amount of money out of pocket, 3K is a lot of money. People shop for price in a lease this can't not be done. Go back and a page or two and see what people have paid for a X3.
If you never leased a car before Edmunds has a wonderful article on how to lease a car, read it.. Get the current money factor (% rate) and residual that BMW financial service is offering by asking on this forum. Having this info will help out a lot when going to the dealer. Also are you negotiating a sale price of the X3? Do not pay MSRP for a lease...
#1125 of 1201 Re: Dishonest BMW Corporate Policy [kyfdx@Edmunds]
Jun 27, 2013 (12:19 pm)
KYFDX:Thank you for your response and effort to explain. It is my understanding the vehicle is being sold as new and under a full 4 year warranty. It is discounted for the miles,but not the warranty. Whoever purchases it or leases it is the first owner and we are still in the 6 month of 2013, so in June of 2016 it would have 45,000 miles and 1 owner and should still have a 1 year warranty remaining ,but that of course is up to BMW as to whether they think the vehicle is able to be warrantied for another year to a new purchaser. It is my opinion that the practice of charging the excessively high penalty rate of .30 per mile is dishonest and the residual is already adjusted if 57% is used rather than 59% for the 12,000/yr I would be adding. In any case,I think this is a bad and unnecessaryily petty policy for BMW that does not create confidence, trust or even meaningful profit for the company.
#1126 of 1201 Re: Dishonest BMW Corporate Policy [flightnurse]
Jun 27, 2013 (12:40 pm)
Flightnurse:Thank you for your response. The vehicle is being sold as new. It is listed under "new" inventory. It is a 2013 vehicle being sold in June of 2013. It is discounted for the miles on it,but not the warranty. It still has a 4 year warranty to any purchaser. I was wiling to have returned it in 3 years putting only 36,000 miles( 59% residual) and to instead use the actual 45,000 mile residual of 57%. I am not ok with paying a .30/mile penalty rate on their miles. It is a vote of no confidence by BMW to be willing to advertize it and sell it as new,but not lease it as such. In June of 2016 it would have 1 owner and 45,000 miles and 1 year warranty remaining, therefore the residual should be 57%.
#1127 of 1201 Re: 2013 x3 28i payment question [flightnurse]
Jun 27, 2013 (5:51 pm)
Thanks for the input. I have read the edmunds lease article as well as others. I felt like I understood leases fairly well so I just wanted the reassurance that the dealer was trying to screw us. We have tier 1 credit and after shopping around at another dealer we are looking a 2014 x3 with an Msrp of 43,800. Dealer said with 1500 down payment is $450 a month for 3yrs 12k miles a year. Does that seem reasonable?
#1128 of 1201 2014 X3 28i - Residual and Money Factor
Jul 01, 2013 (1:38 pm)
I am considering a lease on a 2014 X3 28i. I will lease for 3 years with 15,000 miles per year. Would you kindly provide the current (July) residual and MF? I have tier 1 credit.
Thank you very much!
#1129 of 1201 Re: 2014 X3 28i - Residual and Money Factor [mattyg412]
Jul 08, 2013 (2:15 pm)
I'd be happy to help you out mattyg412. BMW Financial Services' July buy rate lease money factor and residual value for a 36-month lease of a 2014 X3 28i with 15,000 miles per year are .00127 and 54% for consumers who qualify for its top credit tiers.
Prices Paid: Buying & Leasing Experiences Forum
#1130 of 1201 Uncommon BMW Lease Questions
Jul 19, 2013 (2:34 pm)
I am familiar with leasing, but I am charting new grounds negotiating a lease on a 2013 BMW loaner with thousands of miles on it. The price has already been aggressively discounted because of the current miles on the car. The research I have done indicates that the lease end residual amount for the chosen model, miles/year and term should be reduced by an additional .15 per mile that is currently on the vehicle. Please confirm if .15 is the correct amount/mile and if this amount should be deducted from the residual (creating a lower residual amount and %) in order to calculate the lease payment.
One other question. The dealer indicated there would be no acquisition fee. Is it possible that since BMW has no advertised lease offers on this 2013 vehicle that no acquisition fee is required?
#1131 of 1201 Re: Uncommon BMW Lease Questions [grok]
Jul 19, 2013 (2:53 pm)
I don't think there is a .15/mile deduction, the BMW dealer sale price is the negotiated sales price of the X3, which the lease is based off. What is the money factor and residual the dealer is giving you? That is going to tell anyone what kind of deal you are really getting.
When I was looking at a loaner X3, the reason I was told that their were no acquisition fee is because it is used.
#1132 of 1201 Re: Uncommon BMW Lease Questions [grok]
by kyfdx@Edmunds HOST
Jul 19, 2013 (4:29 pm)
It's $0.30/mile, after the first 500 miles..
All leases will have an acquisition fee, although it may be rolled in to the CAP cost. They can waive the acq. fee, with a .00035 bump in the money factor, but this rare and not usually cost effective, unless it's a short term lease.
#1133 of 1201 Re: Uncommon BMW Lease Questions [flightnurse]
Jul 19, 2013 (5:56 pm)
Thank you so much for your insight on the Acquisition fee, that makes sense and give me a basis to stand on , if they try to rescind when I begin to negotiate .For 2013 the money factor of .00127 & residual of 59% for 1200m/year for 3years has not changed on this vehicle. The dealer stated that the miles would cost.30 per mile and be directly deducted from the residual amount, but since BMW USA advertises on their website that additional miles are only.20c at the end of a lease unless you purchase additional miles before the lease end then they are .16; this made me think their number was too high. I called a reliable source and was told the cost is .15 / mile. This makes the adjusted residual 56.35% rather than the 53.5%residual the dealer quoted. Big difference. Can you confirm?