Last post on Dec 08, 2013 at 9:58 AM
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BMW X3, Car Leasing, SUV
#703 of 1201 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.
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#704 of 1201 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.
#705 of 1201 X3 Early Lease Termination Special in June 2009?
Jun 08, 2009 (8:45 am)
Hello...I am trying to find out if BMW is still offering an early lease termination special for X3's for June 2009. My understanding was that in May BMW was offering to waive the final 3 months payments if you leased a new BMW (ie, a pull-ahead program).
Any information would be appreciated.
#706 of 1201 Re: X3 Early Lease Termination Special in June 2009? [johnpatrick3]
Jun 09, 2009 (2:08 am)
Hi johnpatrick3. Yes, BMW is still running an early lease termination program on the X3 in June. In addition to that, if you are a current X3 lessee who gets a new X3 you are eligible for a special $1,500 loyalty cash incentive.
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#707 of 1201 2007 X3 end of lease options- UNBELIEVABLE!
Oct 01, 2009 (11:37 am)
I have a 2007 X3 that comes off a 36 month lease next month. I just received my end of lease options from BMW Finance. My current monthly payment is $428/month, risidual buyout is approx $30,000.
If I want to extend my lease for 1 year the monthly payments are $1149/month. If I want to buy the car my monthly payments for 60 months are $609/mo at 6.4% financing.
Has anyone else experienced this from BMW?. It is not exactly a "customer retention" program.
I like the X3 and would like something similar at around the same monthly lease payment.
Does anyone have any suggestions?
#708 of 1201 Re: 2007 X3 end of lease options- UNBELIEVABLE! [biggd]
Oct 01, 2009 (12:02 pm)
I have no idea why you want to buy the car in the first place - see my experience - but all remaining new 2009's are supposed to have a 0.99% financing option. Car sales are again falling off a cliff at least for some manufacturer's so buyers are again in charge.
What the heck was on your car that you would have such a high residual after 3 years of payments?
I have never leased anything - buy outright - so I am wondering why your used car would be worth $1200 - the price of a moderately sized mortgage. I would say to forget the blooming car, get a new one at a better price from a better manufacturer and put the remainder toward a mortgage on an asset that has a decent price of appreciating.
Just my two cents.
#709 of 1201 Re: 2007 X3 end of lease options- UNBELIEVABLE! [pp2009pp]
Oct 01, 2009 (12:17 pm)
The risidual was set by BMW Finance at the time of the promotion in order to keep the payments low and push the cars out the doors
#710 of 1201 Re: 2007 X3 end of lease options- UNBELIEVABLE! [biggd]
Oct 01, 2009 (12:52 pm)
So does that mean that if you buy the car outright you will be paying now for the promo that you received up front?
The difference in 60 months between your 'used' car rate and the 'new' car rate is about $75/month. The same monthly payment buys you a $34,000 new car...if you financed the entire thing. Check the math though using a loan calculator. I'm just plugging in the numbers you have plus you have to add in the full warranty of the new car...not entirely sure what that is worth but it is worth something especially on cars with average reliability.
I would take a look at other cars and deals out there.
My two cents.
#711 of 1201 Re: 2007 X3 end of lease options- UNBELIEVABLE! [biggd]
by kyfdx@Edmunds HOST
Oct 01, 2009 (3:08 pm)
1) You won't be able to extend the lease at any reasonable price, so just can that option..
2) Contact BMWFS... Tell them you might be interested in purchasing your car, but nowhere near that inflated residual... ask them to give you a realistic price, and you might consider it... Sometimes, they'll drop the residual... sometimes not..
3) If 2) doesn't work.... contact your dealer, and tell them the same thing.. You might be interested in purchasing your car, but not at that price... Can you save me a substantial amount? BMWFS will sell the car to the dealer for the MMR (auction) price. They'll mark it up to make a profit (the key is:how much), but you should be able to get it cheaper..
4) If all else fails, do not buy the car for the residual... You got a great lease deal because of that unrealistic residual.. If you buy the car for that amount, you give your great deal back to BMWFS...
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#712 of 1201 2005 X3 for under $20K?
Oct 02, 2009 (10:32 am)
What about a used instead?
I would, of course, say RUN far, far away but what about a used one instead? This idiotic car is at the end of its run anyway and they will start manufacturing them in NC instead of in an Austrian OEM plant.
Drive a cheapo used one for a few years and see what comes up next. I don't know if this is a good bet but will they actually bother to fix the ride and the transmission problems? Maybe they will revert back to the 5 speed transmission or, heck, maybe not.
At any rate, why take the risk?