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BMW X3 Lease Questions

1097 messages,  Last post on May 07, 2013 at 11:17 AM

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What is this discussion about? BMW X3, Car Leasing, SUV

    

Messages Page 51 of 110

#500 of 1097 Re: 2007 X3 Lease (Good Price?) [shagzie] by Car_man HOST

Jun 05, 2007 (3:06 am)

Replying to: shagzie (May 23, 2007 12:34 am)
Welcome shagzie. 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.
 
The first thing that I noticed about your deal is that you plan on trading in your current vehicle when you lease your new one. There's nothing wrong with trading in a car or truck when you lease your new one, but it would be in your best interest to have the dealer that you are working with cut you a check for your trade rather than using the proceeds from it as a down payment for your lease. I always advise consumers against making large down payments on leases. Those who do, risk losing all or part of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered.
 
Also, the money factor and acquisition fee that you were quoted for this truck are too high. BMW Financial Services' current buy rate lease money factor for a 36 month lease of a 2007 X3 is only .00215 with the payment of a security deposit at lease signing and its base acquisition fee is only $625. It appears as though the dealer that you are working with is marking both of these items up to add additional, hidden profit to your deal. Try to find a dealer that will use the base factor and acquisition fee.
 
Now let's take a look at this truck's selling price. The X3 that you described probably has a spread of around $3,800 between its full MSRP and its dealer invoice price. You are being given a discount of $1,700 on it, which is still around $2,000 over invoice. There's still some room to play with here. It wouldn't hurt to comparison shop with a few other dealers to see if you can beat this deal. Also, make sure to stop by the following discussion to see how much other community members have paid for similar trucks lately: "BMW X3: Prices Paid & Buying Experience".
 
Car_man
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Prices Paid Forum

#501 of 1097 Re: 2007 X3 Lease (Good Price?) [joechicago7] by jvos

Jun 14, 2007 (7:59 am)

Replying to: joechicago7 (May 23, 2007 9:15 am)
Joechicago -
 
can you please post the details of the X3 you bought last week? Did you buy or lease?

#502 of 1097 Lowering my Monthly Payment by taterelder

Jun 03, 2007 (2:25 pm)

hey I was looking to lease a New X3. when I contacted the Dealership (in Kansas City) a fully loaded MSRP around 46,000 -- 36 months -- 15k/year mileage was like $715 a month. I haven't yet been in to negotiate a lower price off the MSRP, but how are you guys getting these leases for the $450 - $550 range? they said that the taxes and licensing was included, will just negotiating the purchase price to about $43,000 get my lease under $600? or how in the world can I get my lease payment near the $500 range?

#503 of 1097 BMW X3 Money Factor & Residual Value by kp22

Jun 12, 2007 (11:34 am)

Can someone please provide me with the most recent money factor and residual value on a 36 month lease with 10,000 miles?
 
Also, it would be very helpful if someone can provide me with a link to a listing of money factors and residuals on the BMW or BMW Financial Services website. I have seen older schedules on other posts but cannot find the information on the BMW websites themselves.
 
I would greatly appreciate any assistance.
Thanks!
 - kp22

#504 of 1097 Re: BMW X3 Money Factor & Residual Value [kp22] by Car_man HOST

Jul 10, 2007 (3:01 am)

Replying to: kp22 (Jun 12, 2007 11:34 am)
Hi kp22. Here is BMW's latest lease program for the truck that you are interested in. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 BMW X3 with 10,000 miles per year are .00215 and 68%, respectively.
 
Car_man
Host
Prices Paid Forum

#505 of 1097 Leasing 07 X3, are these good? by minote

Jun 12, 2007 (7:09 pm)

Hi Car Man,
Looking at an X3:
Terms 15/36 BMWFS
MSRP 42950 (prem pack, xenon adaptive headlight, privacy glass, metallic color)
Buy price (looking for around) 40000 (is it possible?)
Cap Cost: 43000 (includes all CA tax, tags and acq fees)
  
What would be good lease payment with $0 down?
Are my numbers above looking good? I want to shoot for up to $500 incl tax for mthly pmt.
I would like to deal with dealers thru emails so any opinions you could give me about my numbers are so very appreciated.
Thanks for your opinion in advance, Car Man!

#506 of 1097 Re: Leasing 07 X3, are these good? [minote] by Car_man HOST

Jul 10, 2007 (3:07 am)

Replying to: minote (Jun 12, 2007 7:09 pm)
Hi minote. The dealer invoice price of the X3 that you described is $39,535. A selling price of $500 over dealer invoice, or slightly over the $40,000 that you mentioned would be a very good deal. Shoot for that and see what happens. You should be able to get a good idea of how much you will have to pay for this truck right now by visiting the following discussion: "BMW X3: Prices Paid & Buying Experience".
 
Once you arrive at a selling price that you are comfortable with, make sure that the dealer that gives it to you calculates your X3's monthly payment using BMW Financial Services' current buy rate lease money factor and residual value of .00215 and 65% (for a 36 month lease with 15,000 miles per year). Using this lease program, I estimate that the zero down, pre-tax monthly payment for a lease of the truck that you described at $500 over invoice would be around $483.
 
Car_man
Host
Prices Paid Forum

#507 of 1097 RE: Lease X3 2007 by ipip316

Jun 13, 2007 (6:17 pm)

Hi All and Carman:
Went to dealership today and got a quote for X3 with Auto, Xexon light, Nav Package and Matellic Paint.
 
MSPR: $41850.00
Cap Cost: $39600.00
Adjusted Cap cost: $40612.91
Res. value: 77%
lease factor: 0.00215
24 month 12k/ year
NYC 8.375%
 
total sales tax: $1012.91
DMV Doc: $452.50
ACQ Fee: $625.00 (donno what is it)
Security deposit: $550.00
amount due at signing: $2133.62
monthly payment: $506.12
 
Any idea do i get a good deal? please advise.
 
Thank you

#508 of 1097 RE: Lease X3 2007 [ipip316] by Car_man HOST

Jul 10, 2007 (3:14 am)

Replying to: ipip316 (Jun 13, 2007 6:17 pm)
Hi ipip316. The money factor and residual value that you were quoted for the X3 that you are interested in are right in line with BMW Financial Services' current program for it. This is a good thing because it means that the dealer that you are working with is not trying to mark-up BMW FS' buy rate like BMW dealers are notorious for doing.
 
Now let's take a look at the selling price that you were quoted. The dealer invoice price for the model that you described is $38,535. That puts the selling price that you were quoted at just over $1,000 over invoice. That isn't a bad price for a lease of this model using the buy rate lease money factor. Still, it wouldn't hurt to stop by the following discussion to see how much other community members have paid for similar models lately: "BMW X3: Prices Paid & Buying Experience".
 
In your post you mentioned that you didn't know what the acquisition fee is. All banks that lease vehicles charge an acquisition fee and individual dealers do not have the authority to waive it. BMW Financial Services' base acquisition for is $625, which is right in line with the fee that you were quoted. This means that the dealer you are working with is being very straightforward with you because BMW dealers are notorious for marking up acquisition fees by a couple hundred dollars.
 
Car_man
Host
Prices Paid Forum

#509 of 1097 Out-Of-State Lease by timmboj

Jun 25, 2007 (3:10 pm)

Does anyone know how I can figure out how the taxes get paid on an out-of-state lease? Like, if I'm in Tennessee, and I lease a vehicle in Texas and bring it back to Tennessee, how does it all work out? Does the dealer handle this? Or do I need to ask Tennessee government officials what the procedures are? Seems like it would be an easy thing for dealerships to handle, but I want to know so there aren't any surprises.
 
Thanks!

Messages Page 51 of 110

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