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BMW X3, Car Leasing, SUV
#20 of 1097 Re: BMW X3: Lease Questions [pmeswani]
Jul 06, 2007 (3:18 pm)
Just put a deposit down on an X3.
MSRP: 42,325 includes Auto, Premium, Heated Seats and Steering Wheel, privacy glass
Selling Price: $40,105
Term: 24 month/12k per year
Payment: $496 (includes tax)
~$2100 basic inception fees due at signing (first month, $500 SD, reg fees, and acquisition)
Sound like a decent deal? By my calculations, I'm about 12 over, but I still think it's not too bad.
#21 of 1097 Re: BMW X3: Lease Questions [Car_man]
Jul 15, 2007 (1:08 pm)
I am probably going to lease an x3 on Monday, and I need to know what type of payments to expect to pay with 0 down and a 36 mo. lease in Houston, TX. This is my first lease. Please offer any info. you can.
#22 of 1097 Re: BMW X3: Lease Questions [kbet]
Jul 27, 2007 (12:37 pm)
If you can't get good deals in Houston, I suggest checking out Garlyn-Sheldon (not 100% sure the spelling) BMW in Bryan-College Station. It's 80 miles from Houston. They are smaller and simpler and would do deals that Houston would not. Also, it seems like the dealersips North of town have less customers and are more willing to give more discounts. Good luck
#23 of 1097 Re: BMW X3: Lease Questions [Car_man]
Jul 29, 2007 (3:15 pm)
Thank you for hosting this forum; it has been a help in my current negotiations however I still need some guidance.
I am talking to my dealer about leasing a x-3 for my wife. I never leased a car before and am new to the terms "money factor", residual value, etc.
The car we are looking at has an MSRP of just over $48,000 (sorry, forgot to get the exact $ amount. The salesman prepared a proposal and printed out a "lease review" for me.
I am trying to put numbers together so I can do some of the calculations to see what kind of deal I am getting from my dealer. My deal today is as follows:
MSRP: 48,000 +
from the lease review sheet:
Gross Cap Cost: 47,690
Sales Tax (7% in NJ): 1,697.07
Cap Reduction: 2,500
For a net cap cost of 46,887
I can see how the above adds up but am not sure where the Gross Cap cost comes from or what the sales tax is computed on.
Then comes the 2nd part:
Adj Residual: 26,960.00
Total Term Depreciation: 19,927.01
Monthly Depreciation 553.53
Mo. Lease Charge: 84.19
For a base payment of: 637.72
I guess here it is the residual I don't know where it came from; I assume the depreciation is a "plug" that when added to the residual equals the net cap cost above.
That said the lease is based on a 65% residual value on the vehicle at 15,000 mi/year, however we are basing it on a 25,000 per year lease. I guess this is where my problem is, trying to get from the 15 K lease to a 25K lease.
I also, per your forum, suggested puting 7 more security deposits (750 each)down, so the money factor is somewhat less than the .00215 which brought the monthly payment down from 713 +/- to the 637.72.
I am just trying to find the "skeletons in the closet" so I may negotiate smartly with the dealer. If you see anything out of line would you kindly let me know.
Thanks for your help
#24 of 1097 Re: BMW X3: Lease Questions [sshherman]
by Car_man HOST
Aug 24, 2007 (2:18 am)
You're very welcome, sshherman. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
You really need to figure out what selling price you are being charged for the X3 that you are interested in. Does the cap cost that you were quoted include any fees, like tax, title, or BMW Financial Services' $625 acquisition fee. If it does not then you aren't getting much of a discount on this vehicle and should probably do some additional haggling with this dealer or shop around a little bit.
15,000 miles per year is the highest mileage allowance that BMW Financial Services publishes residual values for. If you need to drive 25,000 miles per year, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the scheduled end of your lease and have to pay an excess mileage penalty.
Make sure that the dealer you are working with is using BMW FS' buy rate lease money factor of .00215 to calculate your monthly payment. If you are making additional security deposits, you will receive a .00007 reduction in this money factor for each additional deposit after the first, up to a maximum of seven extra deposits.
Prices Paid: Buying & Leasing Experiences Forum
#25 of 1097 Re: BMW X3: Lease Questions [timmboj]
Oct 05, 2007 (5:42 pm)
Where can I locate invoice pricing on the 2008 X3 to compare to MSRP pricing?
#26 of 1097 Re: BMW X3: Lease Questions [italia1]
Oct 05, 2007 (5:53 pm)
you can look right her on edmunds. it will show you msrp, invoice and what others in your area are paying for the car.
#27 of 1097 Re: BMW X3: Lease Questions [Car_man]
Dec 20, 2008 (5:17 pm)
I am thinking about leasing a BMW 2009 X3. I went to a dealership this afternoon and this is what they offer. The MF and RV all seem consistent with what you provided on previous post. I am not sure about the purchase price, which is higher than the invoice price and lower than the TMV. Could you please let me know how much above invoice price would be a good price? Also, for some reason the invoice price provided by Edmunds doesn't show an additional charge for the color (Vermillion Red Metallic). Is that reasonable?
Purchase price: 45,999
Term: 36months, 12Kmiles per year, no downpayment, no tax upfront
Monthly payment: approx. 625
Sport Activity Package
Cold weather package
Heated steering wheel
#28 of 1097 X3 Lease Questions
Dec 24, 2008 (8:06 am)
Is leasing a 2006 CPO considered a viable option?
Is the BMW FS money factor known for this?
#29 of 1097 Re: BMW X3: Lease Questions [coolgirl2008]
by Car_man HOST
Jan 06, 2009 (4:34 am)
Hi coolgirl2008. If I was in the market for an X3 right now, I personally would shoot for $500 over dealer invoice and see what happens. That sort of selling price and the use of BMW Financial Services' buy rate lease money factor are probably the best that you can hope for on this model right now.
Prices Paid: Buying & Leasing Experiences Forum