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BMW X3, Car Leasing, SUV
#221 of 1097 BMW X3 Lease: URGENT plz
Sep 01, 2005 (4:45 am)
Addntl info: So the deal is that I will trade in my 328i (123,000m) and in need of repair for $5,800. No money will be exchanged at time of transaction...$454.39 from the $5,800 will go toward the first paymt.. MSRP for the 2005 X3 3.0i w/all options except Nav.& backup assist is $44,695. Negotiated price is $43,570....Lease: 39mnths 60% residual 17K miles/yr for $454.39.
When I punch in those #'s I'm still getting a paymt. around $425? Your thoughts...
#222 of 1097 Urgent Assistance needed on 2005 X3 3.0i lease
Sep 01, 2005 (5:24 am)
Let me add a couple other pieces of info on this deal: My trade in is a 97' 328i...Kelley Blue Book trade in shows: $4,700...BMW is "giving" me $5,800. The money factor used in this "Aug. 31st" transaction w/pickup today is .0014. Do the #'s shown above in the 2previous messages correspond to a good deal?
#223 of 1097 Urgent Assistance needed on 2005 X3 3.0i lease
Sep 01, 2005 (6:29 am)
Thank you brd127...
Do you think this is a legit deal? Should I back out this morning? I'm not comfortable w/it right now...
#224 of 1097 Urgent Assistance needed on 2005 X3 3.0i lease
Sep 01, 2005 (6:34 am)
brd127...you are correct there are about $1000 in various fee's...bank fee's, etc.. I'm just not totally comfortable w/the fact I'm trading in my vehicle and still hvae a pmt. of $454.. Although I must keep into consideration that it has an MSRP of $45.7K....your thoughs..
#225 of 1097 Urgent Assistance needed on 2005 X3 3.0i lease
Sep 01, 2005 (6:40 am)
kyfdx.... thx...yes the $5,800 includes all upfront charges...i walk in w/the car...trade it in and leave w/a car...no cash outlay. So you feel that the Aug. 05' money factor should be .0010? If so, I'll push that fact and I could also have them drop the mileage to 16K/yr....would that drop the payment another approx. $20/month?
#226 of 1097 Re: Urgent Assistance needed on 2005 X3 3.0i lease [bra]
by kyfdx HOST
Sep 01, 2005 (6:59 am)
I am sure of the money factor.. Just dropping that to .0010 will save $30/mo.. I'm not sure of the mileage hit.. But dropping 1K miles per year should save another $13-$14 per month..
Don't count on them agreeing to this... Dealers that mark up the money factor like to stick to it... But, it is getting late in the '05 model year, and that is a loaded up car... Hopefully, they'll be motivated to move it...
#227 of 1097 Urgent Assistance needed on 2005 X3 3.0i lease
Sep 01, 2005 (7:04 am)
even at .0014 is this a reasonable deal...considering that it's nearly max'ed w/options 17,000miles/yr..... $454/month for 39mnths. If it's way out of the ball park then i'll walk. Other non BWM (i.e. VM, Land Rover) dealers are only going to give me approx. $2,500 for the trade in. The trade in is probably only worth $4,000 due to the fact I need to drop about 2K in A/C compressor, bearings, and brakes all around. Your thoughts on the walk or accept on this current deal....while most likely having to stick to the .0014. I have about 15min. b/f I need to head up there. I greatly appreciate your insight. Regards, B
#228 of 1097 Re: Urgent Assistance needed on 2005 X3 3.0i lease [bra]
by kyfdx HOST
Sep 01, 2005 (7:09 am)
Well... your upfront costs would normally run about $1800...
So, you are putting $4000 down... Add that back into the lease, and your payment is about $560/mo.. I guess that is not a bad deal on a $47K car... with a 17K/yr mileage allowance...
And, if you feel like you are coming out ahead on your trade-in, and this is the car you want, you aren't being taken advantage of, I don't think...
I'd give it a try.. ask for the base rate... ask for a $500 check back from your trade to make the next payment... beg for floomats... lol..
If it doesn't work, take it as is.... Life is short...
#229 of 1097 Urgent Assistance needed on 2005 X3 3.0i lease
Sep 01, 2005 (7:18 am)
ha...good stuff.. FYI...i did get the floormats...now i'm going to ask for an internal bike rack!!! I negotiated over a two week time frame and this deal has come down over $125/month from initial until now. I feel fairly comfortable...and I do agree w/you....I'm young and I only live once. This is my first lease and I'm now much wiser...that's for sure! I also agree It won't hurt to question the rate of .0014.
Thank you very much for the insight! I'm off to p/u my new vehicle..
Have a great weekend!
#230 of 1097 Urgent Assistance needed on 2005 X3 3.0i lease
Sep 01, 2005 (11:58 am)
well I ended up signing the lease, but I did one last run through on the numbers w/the deals and I backed off the mileage to 15K and ended up getting a $430/month paymt. w/the trade in. First pmt and security deposit of $450 will be taken car off w/the trade in. I couldn't get them to back off the .0014...oh well can't win them all. All in all I feel pretty comfortable w/the deal.
Once again...thx for providing your expect opinion.