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BMW X3 Lease Questions

1112 messages,  Last post on Jun 18, 2013 at 9:11 AM

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

    

Messages Page 62 of 112

#608 of 1112 What am I missing? by justwntd2know

May 18, 2008 (1:28 pm)

I just started my search and negotiations for a new 2008 X3. I plan to lease the vehicle for 24 or 36 months. Below is the quote I received from a local dealership. When I run the numbers through an on-line lease calculator, the payments come out about the same (i.e., $639) vs. $641. However, the on-line calculator monthly payment is inclusive of taxes. The the dealership's quote is $641 + $53 taxes for a monthly payment of $694. What am I missing? What is causing this $54 per month difference.
 
Also, the money factor seems unusually high (7.18%). I am a first time BMW customer. However, I have great credit. Any advise? Before I start negotiating price and such, I really need to understand how to calculate the lease payments. Are they hiding fees or trying to over charge me for the vehicle?
 
Offer
Lease for 3 years and 10,000 miles per year
  
2008 BMW X3, $1,195 total cash including drive-off, $641 per month plus tax.*
  
MSRP is $47,600 - our prefered Internet price $44,989 plus tax and fees*
Silver Gray Metallic Exterior
Gray Nevada Leather
Sport package
Premium Package
Steptronic Automatic Transmission
Heated front Seats
Xenon Headlights
Navigation System
Privacy Glass
Dark Ash Wood Trim
Panoramic Moonroof
*Offer on approved credit, valid through Internet Sales Only until 5/31/2008.
  
The money factor used is .00299. The residual value is 65% or $30,940.
I live in LA, California. The sales tax is 8.25%

#609 of 1112 Re: What am I missing? [justwntd2know] by Car_man HOST

Jun 04, 2008 (4:07 am)

Replying to: justwntd2know (May 18, 2008 1:28 pm)
Hi justwntd2know. The following Edmunds.com article shows how monthly payments for leased vehicles are calculated: Calculate Your Own Lease Payment.
 
The two most important numbers to focus on when negotiating a lease are your vehicle's selling price and its money factor. These are the two main profit centers for dealers. Shop around and negotiate the lowest possible selling price on the X3 that you want. I would not be surprised if you were able to negotiate a price that's fairly close to dealer invoice in the ultra-competitive Southern California market.
 
Once you have a price that you are comfortable with, have the dealer calculate your truck's monthly payment using BMW FS' buy rate lease money factor of .00240 (with the payment of a security deposit at lease signing).
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#610 of 1112 They Are by nyccarguy

May 18, 2008 (6:08 pm)

Marking up the money factor on you. The base MF for an X3 for a 15,000 mile per year lease is .0025

#611 of 1112 Re: They Are [nyccarguy] by justwntd2know

May 19, 2008 (8:16 am)

Replying to: nyccarguy (May 18, 2008 6:08 pm)
Thank you. Where can I find a benchmark for the money factor?

#612 of 1112 Re: They Are [justwntd2know] by Car_man HOST

Jun 04, 2008 (4:11 am)

Replying to: justwntd2know (May 19, 2008 8:16 am)
Hey justwntd2know. BMW FS' buy rate lease money factor for the '08 X3 is currently .00240 for first time customers who pay a security deposit at lease signing. BMW will waive its security deposit requirement in exchange for a .00015 money factor increase.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#613 of 1112 June 24 month lease numbers? by lfm3

Jun 06, 2008 (10:38 am)

I'm looking for the BMWFS MF and residual on a 24 month 10,000 mile/yr X3 lease. Has the MF been reduced from .00250 in May to .00240 in June on the 24 month term as well?
Has the Owner Loyalty Program MF reduction of .00090 in May also changed for June?
Have they added an option credit or other dealer cash to the X3 for June?
I'm in San Francisco - any regional credits/incentives etc?
Thanks

#614 of 1112 Re: June 24 month lease numbers? [lfm3] by Car_man HOST

Jun 23, 2008 (2:22 am)

Replying to: lfm3 (Jun 06, 2008 10:38 am)
Hi lfm3. BMW Financial Services' June buy rate lease money factor and residual value for a 24 month lease of a 2008 BMW X3 with 10,000 miles per year are .00240 and 75%, respectively. I believe that the owner loyalty money factor reduction is still .00090 on this model. BMW is still not providing any option credits on the X3.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#615 of 1112 Re: June 24 month lease numbers? [Car_man] by suznsax

Jul 11, 2008 (3:11 pm)

Replying to: Car_man (Jun 23, 2008 2:22 am)
Hi Car_man
Do you happen to know what BMW FS July money factors and residual value for a 36 month lease of a 2008 BMW X3 with 10,000 is? Thanks!

#616 of 1112 Re: June 24 month lease numbers? [suznsax] by userla

Jul 16, 2008 (1:41 pm)

Replying to: suznsax (Jul 11, 2008 3:11 pm)
suznsax -
 
Leasecompare.com just posted them recently:
 
http://www.leasecompare.com/auto_leasing_forum/viewtopic.php?f=18&t=3212

#617 of 1112 Re: June 24 month lease numbers? [suznsax] by Car_man HOST

Jul 21, 2008 (3:21 am)

Replying to: suznsax (Jul 11, 2008 3:11 pm)
Here's the information that you're looking for, suznsax. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 BMW X3 with 10,000 miles per year are .00200 and 62%, respectively.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

Messages Page 62 of 112

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