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BMW X3, Car Leasing, SUV
#707 of 1112 2007 X3 end of lease options- UNBELIEVABLE!
Oct 01, 2009 (12:37 pm)
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 1112 Re: 2007 X3 end of lease options- UNBELIEVABLE! [biggd]
Oct 01, 2009 (1:02 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 1112 Re: 2007 X3 end of lease options- UNBELIEVABLE! [pp2009pp]
Oct 01, 2009 (1:17 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 1112 Re: 2007 X3 end of lease options- UNBELIEVABLE! [biggd]
Oct 01, 2009 (1:52 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 1112 Re: 2007 X3 end of lease options- UNBELIEVABLE! [biggd]
by kyfdx HOST
Oct 01, 2009 (4:08 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 1112 2005 X3 for under $20K?
Oct 02, 2009 (11:32 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?
#713 of 1112 X3 lease end residual question
Oct 26, 2009 (9:06 am)
I'm coming in at the end of December on my 3yr 2007 X3 lease. Sport pkg, premium pkg, cold weather pkg; no navigation. My cap cost reduction pmt was $2974, monthly pmts made total $22248, contract residual value is $30799. I've been happy with the vehicle and would like to purchase it. I've seen some blogs where people have claimed to get as much as $9000 off the residual from BMWFS.
Anyone else have experience with BMW reducing the residual amount to entice a lease-end purchase?
#714 of 1112 Lease Factors and Residual Values
Dec 12, 2009 (7:12 am)
Anyone know the lease money factor and residual values for the 2010 X3? Need 10,000, 12,000 and 15,000 mile values.
#715 of 1112 Re: Lease Factors and Residual Values [poorboytoo]
Dec 14, 2009 (7:38 pm)
I am also interested, '10 X3 10,000 miles, 39, 36 or 24 lease specials? Please advise on the money factor and residuals. Thanks.
#716 of 1112 Re: Lease Factors and Residual Values [poorboytoo]
by Car_man HOST
Jan 07, 2010 (4:09 am)
Hi poorboytoo. Sorry for the delay in my response. I took some time off for the holidays. Here's the new January numbers for the vehicle that you're interested in.
BMW Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2010 BMX X3 with 15,000 miles per year are .00250 and 57%, respectively.
This truck's 12,000 mile per year residual value is 2% higher. Its 10,000 mile per year residual is 3% higher.
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