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BMW X3, Car Leasing, SUV
#689 of 1097 Re: Purchasing after the lease [billmv]
Feb 16, 2009 (10:09 am)
I have a deal with BMW Manhattan dealer to purchase back my X3
after the lease.
2006 X3 30,000 Miles White leather + heated seats
BMW will convert it into CPO and sell it back to me for $22,000
I need to return the car after the lease - can't wait for new X3 or Q5 or Volvo ( was thinking about GLK though... ) - there is not much else on the market I would be interested in and current lease terms are not that good.
#690 of 1097 Re: Purchasing after the lease [mnovodvor]
Feb 16, 2009 (1:47 pm)
Spoke too soon...
The final deal is $23,500 with 0.9 financing.
Still not bad I think but much worse than 22K ( Dealer said that made a mistake with previous quote)
#691 of 1097 Re: Purchasing after the lease [mnovodvor]
Feb 16, 2009 (2:18 pm)
isn't that high given that residuals for 09 X3 are at 41 percent...You should try to negotiate down to 20K or leave it. i plan to try that with my X3 07 lease which is up soon.
#692 of 1097 Re: Purchasing after the lease [mnovodvor]
by kyfdx HOST
Feb 16, 2009 (2:22 pm)
I think that's a great deal for $23,500 with the CPO.. especially with only 30K miles...
$23.5K with 0.9% is better than $22K without it.. assuming 60 months and 4.9% normal rate.
For 36 months, it's about even ..
#693 of 1097 dealer incentives on this truck
Jan 31, 2009 (6:57 am)
Hi, does anyone know if there are any dealer incentives on this truck, any cash back like the X5?
#694 of 1097 Re: dealer incentives on this truck [dollar_pound]
by Car_man HOST
Feb 23, 2009 (4:43 am)
Hey dollar_pound. Unfortunately, I do not believe that BMW is providing any cash incentives on the 2009 X3 right now.
Prices Paid: Buying & Leasing Experiences Forum
#695 of 1097 Leasing vs. Buying
Feb 16, 2009 (9:48 pm)
While we've got a little while to go until the lease on my wife's '07 X3 is up (July 2010), the subject of buying vs. leasing comes up every so often.
She doesn't like leasing. She thinks it is ridiculous to be paying money every month to a car that you don't own. She doesn't feel like the car is "hers." She would rather us buy a car by taking out a 5 year loan, pay it off in 4 years, drive the car free and clear for a few years after that. Then the maintenance and reapir costs would outweigh the cost of a new vehicle.
I agree with her to a point. Cars are made so well these days that 100,000 miles plus isn't a problem for most cars. The thing I love about leasing is that at the end of the lease you just walk away from the car. At the end of our lease, BMWFS says out truck will be worth $27,000.
I recently saw an ad in the paper for 2 CPO '07 X3s with 16K & 36K miles. The BMW dealer is asking $24K & $25K respectively. That means the dealer either took these 2 X3s in on a trade or bought them at an auction for $18 or $19K.
Let's say we took out a loan on our X3 instead of leasing it. In 3 or 4 years time we decide we want to get rid of it (Don't get me wrong, WE LOVE IT) for whatever reason. We need a bigger vehicle, it starts to have some problems out of warranty, my wife decides she doesn't like driving a truck... We'd be so upside down on our trade. I know I could always try to sell it privately, but I had a lot of problems trying to sell my wife's former '00 Mazda Protege ES for $2,000. I can imagine the headaches of trying to sell a $30K car to a private party.
#696 of 1097 Purchased my 2006 X3 back
Mar 16, 2009 (9:43 am)
This info may help you if you are considering to purchase X3 after lease:
I have purchased back my X3 2006 after the 3 year lease:
2006 White X3 premium leather, privacy glass, heated front seats, otherwise standard
Residual value $25,700
Purchased at BMW Manhattan for 23,500 with 0.9% financing
as a CPO (with extended warranty)
At BMW Brooklyn I was quoted 29,000.
#697 of 1097 Re: Purchased my 2006 X3 back [mnovodvor]
Mar 19, 2009 (2:19 am)
Michael....does that purchase price include tax?
I am about to purchase my 2005 X3 at lease end with CPO and 0.9% financing (that was the promotion last month that I secured). I was quoted a price and was told the CPO could run between $3,000-$5,000,. They are performing a 40 point inspection (for $150) and will let me know if it qualifies. Then, the dealer will tell me if I need new tires, etc and how much it will cost, so they can "adjust" the quote accordingly. I was under the impression that when they CPO the car, they sell it back to you in "like new" conditon. My dealer said that since it is my vehicle, it is a "lease to retail" and they don't fix anythng they don't have to. Just curious if you needed any work done on your X3 when they certified it and if they charged you. Also, what condition was it in when they sold it back it you? If they don't intend on "fixing" anything then, I would have liked to take the "Orignal owner extended warranty" since it covers more than a CPO, but I wouldn't get the 0.9%. Thanks for your input.
#698 of 1097 Re: Purchased my 2006 X3 back [anjor]
Mar 19, 2009 (9:05 am)
1) my price did not include tax. it did include CPO. With tax in NY full price was close to 25,000 and final per month payment of $435 for 60 month
2) My car was in pretty good condition, not after-lease charges. They did not charge anything extra - 23,500 was all I paid ( plus inspection, registration, some other fees about $200) They did full detailing on the car and replaced some plastic inserts inside - like mirror controls on the door.