Last post on Dec 11, 2013 at 4:42 PM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW X3, Car Leasing, SUV
#636 of 1204 Re: Lease Question [kpj]
Oct 13, 2008 (4:38 pm)
No problem, kpj. BMW actually just enhanced its October lease program for 2008 models on Friday. BMW Financial Services' new buy rate lease money factor and residual value for a 36 month lease of a 2008 X3 with 15,000 miles per year are .00125 and 62%, respectively. Some '08 models still have free options available on them, but I don't think that the X3 is one of them.
Prices Paid: Buying & Leasing Experiences Forum
#637 of 1204 Re: Lease Question [Car_man]
Oct 14, 2008 (5:13 am)
thanks again. can you give me the lease rates on the X5? 36 months. 15,000 miles.
#638 of 1204 Re: Lease Question [kpj]
Oct 14, 2008 (5:35 pm)
No problem kpj. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 X5 3.0si with 15,000 miles per year are .00125 and 53%, respectively.
Prices Paid: Buying & Leasing Experiences Forum
Sep 22, 2008 (1:19 pm)
Can you tell me a good negotiated lease price per month
taxes and all fees plus 1st month paid and 3500.00 down, no security deposit.
money factor is .00255
Residual value being used is 65%
Northern New Jersey Dealer
NY Tax of 8.13 paying up front
Oct 06, 2008 (1:47 pm)
I've been leasing a 2006 x-3 on a two year lease. The lease is up in December, and I'd like to release the car. I called my dealership and they've quoted me a leasing price of almost $230/ month more on a 24 month lease and $170/month more on a 36 month lease. They are also charging an initial payment of more than $6000 -- this after the original initial payment of $5000 I paid in 2006.
Remember this is now a used car. These lease charges are more than the advertised leases on the new X-3 I see in the newspaper.
Any idea why these charges should be so much higher than my original lease?
Do I have to release through the original dealership?
Any idea where I can get a lease my used car that is the same or less than what I am currently paying for it?
#641 of 1204 Re: re-leasing [leaser310]
Oct 06, 2008 (3:41 pm)
RG...... Essentially you have to drill down into the math they used to calculate these payments to understand where you're getting hosed. Ask them for the following:
1) the capitalized cost. This should be no more than the residual value on the first lease. You paid it down to that amount, so you should not have to "buy" the car for more the second time around.
2) How much of the $6,000 initial payment is for a "cap cost reduction" (down payment) and how much goes to other fees. Get a complete breakdown of those fees. Is there another "bank fee"? Is the lessor BMW Financial Services or a local bank? If it's BMWFS, then you may be able to re-lease through them directly. Call them and find out.
3) What is the new residual value?
4) What is the new money factor? Compare it to MFs for new leases.
With these figures you can calculate your new payment. Do you know how to do that? It should match theirs. I'll bet in your case they are jacking up the MF and bank fee substantially to make more money.
Often in a lease on a brand new car the manufacturer will use a residual that is a bit high in order to lower the payment. But in a re-lease, they know that they have to look at what the vehicle will be worth at the end of the second lease, and that can be quite low. All that depreciation jacks up your payment. Plus, they probably won't be able to give you as good a MF as they can the first time around.
#642 of 1204 Re: re-leasing [billmv]
Oct 06, 2008 (4:13 pm)
Thanks for the good info. I was working with my local dealership. I'll call BMWFS first thing in the morning.
#643 of 1204 Owners Choice vs. Lease
Oct 15, 2008 (5:30 am)
Can someone please explain to me why I shouldnt do an Owners Choice versus a lease? I live in Illinois and if I do plan on possibly buying the car, I would have to pay 7.5% sales tax...TWICE. The owners choice is like a balloon of some sorts if I understand it correctly. What are the drawbacks to it? Can someone please help me decide?
I am looking at a 2008 X3. My payments would be 393 (after trade in of an owners choice that weve had for 2 months but dont like the car) with a lease with the .00125 program, 10k miles or 422 a month with the owners choice at 12k miles. Residual is 60.5%. The car has 9900 miles on it.
#644 of 1204 HELP! Looking to lease 08 X3. Deal or no deal?
Oct 17, 2008 (1:52 pm)
Here is the lease deal from my BMW dealer.
Good / OK / Not the best / Don't do it / RUN
New X3 (Premium, Sport and Cold weather packages)
Dealer price on X3: $44,450
#645 of 1204 Re: HELP! Looking to lease 08 X3. Deal or no deal? [m3ser2005]
by kyfdx@Edmunds HOST
Oct 18, 2008 (5:45 am)
1) What is the MSRP?
2) I'd say its a good deal, assuming MSRP is around $47K+
3) Roll that $5K into the lease payment.. Sure, that makes the payment about $525/mo., but the money is cheap (3%).
4) Is 10K mi/yr enough? Going to a 12K/yr lease only adds $15/mo. and another $30/mo. to go from 12K to 15K/yr..