Last post on Dec 05, 2013 at 8:34 AM
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BMW X3, Car Leasing, SUV
#695 of 1195 Leasing vs. Buying
Feb 16, 2009 (8:48 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 1195 Purchased my 2006 X3 back
Mar 16, 2009 (8:43 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 1195 Re: Purchased my 2006 X3 back [mnovodvor]
Mar 19, 2009 (1:19 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 1195 Re: Purchased my 2006 X3 back [anjor]
Mar 19, 2009 (8:05 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.
#699 of 1195 Lease deals for 09 X3
Apr 13, 2009 (8:03 am)
Do you know of any lease specials on the 2009 X3. I don't want it loaded, just heated seats and leather. And do you think I should wait until the end of August when the 2010 start coming in??
#700 of 1195 Re: Lease deals for 09 X3 [acorvine]
Apr 22, 2009 (2:03 am)
Hi acorvine. You're in luck. For some reason, BMW decided to pull its lease support on the 2009 X3...but now it's back. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 X3 with 15,000 miles per year are .00250 and 53%, respectively.
It is difficult to say what BMW's lease program will be like on the 2010 X3 when it is initially introduced at this point.
Prices Paid: Buying & Leasing Experiences Forum
#701 of 1195 Re: Lease deals for 09 X3 [Car_man]
Apr 24, 2009 (12:40 am)
Need the MF and Residual on a '09 X3 for 10K miles both for 24 and 36 month lease. Also, can you confirm what loyalty cash/incentives that are available for current BMW FS customers?
Thanks once again for your help on the '06 BMW Z4 we are turning in soon. The info you've provided over the years has saved us hundreds if not thousands of dollars!
#702 of 1195 Re: Lease deals for 09 X3 [lalakrsfan]
May 11, 2009 (11:46 am)
Didn't see a reply to this request.Can you please provide the MF and Residual on a '09 X3 for 10K miles both for 24 and 36 month lease? Also, can you confirm what loyalty cash/incentives that are available for current BMW FS customers?
#703 of 1195 Re: Lease deals for 09 X3 [lalakrsfan]
May 15, 2009 (1:58 am)
Here you go, Tyler. According to the latest information that I have seen, BMW Financial Services' current buy rate lease money factor and residual value for a 24 month lease of a 2009 BMW X3 with 10,000 miles per year are an unattractive .00280 and 49%, respectively. The numbers for an otherwise identical 36 month lease are an equally unattractive .00280 and 43%.
BMW is currently providing $4,000 dealer cash on this truck.
Prices Paid: Buying & Leasing Experiences Forum
#704 of 1195 Leasing does work
May 17, 2009 (5:47 pm)
When we leased our 2007 X3 back in July of 2007, the residual value at the end of our lease is 65% after 3 years. 75% if we would have taken a 2 year lease.
Things were much different back then.