Last post on Dec 06, 2013 at 9:11 AM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW X3, Car Leasing, SUV
#932 of 1196 Great thread - need advice
Nov 18, 2012 (5:58 pm)
First time buying a car and I'm trying not to screw up the numbers too much.
Car I'm looking for:
2013 X3 28i
Only have 1 quote so far and definitely seems on high side looking at the numbers on this site. But I'm not sure why?
MSRP: 50950 (includes destination charge of $895)
Market Savings: $2395
SmartChoice Price: $47300
Cash Down: $1345
Monthly lease payments : $706 (36months / 12K)
Now I tried to calculate the residual value of this lease based on the payments and then compare that with the residual % posted by car man
Total Lease Payments = $26,761 ($1345 + (36 * 706)
Calculated Residual = $23934 ($50695-$26761)
With Car Man's numbers for x3 328, Nov 12
Money Factor = .00125 (3% interest rate)
Residual % = 58%
Expected residual = $29,403
Couple of thoughts/questions
1. Priced this car out on TrueCar.com Factory Invoice = $47,515 / Average Paid = $49,159 / MSRP = $51,045. So based on the numbers he gave me, it seems like MSRP is fair. Am I right?
2. Is the difference between expected residual and calculated residual the reason the lease rate is so high?
Appreciate your help. Have to do this all over again for my car so I'd like to understand what's happening.
Oh - for reference, this is the post that made me feel like my lease rate was too high
Nov 12, 2012 (10:58 am)
Dont forget to take advantage of the MSD's.. they can easily bring your monthly payment down by $30/40 a month by lowering your money factor!
Lease I just got:
2013 x3 2.8 (M Sport package) 10k/36m
$550 (everything rolled into payment; TAX/Bank Fee/DMV)
Due at signing: 1st payment and MSD's ($4200 which you get back at the end of lease)
Also - Here's current deal on BMWUSA
Well-equipped with Premium Package (Moonroof, Leather, Auto-dimming Mirrors, Lumbar Support, Ambient Lighting), Heated Front Seats, Power Tailgate and Destination charges.
$429*/month for 36 months. $1,000 Holiday Credit and $750 Loyalty Cash included in payment.
$429 First months payment
$2,750 Down payment
$0 Security Deposit
$725 Acquisition fee
$3,904 Cash due at signing
#933 of 1196 Re: X3 LEASE INFORMATION
Nov 19, 2012 (11:13 am)
What is the Residual and Money factor for an 2013 X35i for 12k a year and 48 month term. How does it change for 15k a year. Thank You
#934 of 1196 Re: X3 LEASE INFORMATION [jc7727]
Nov 19, 2012 (11:24 am)
Do less miles you can always buy more at 16 cents each if needed.
must purchase miles couple month prior to lease end.or they charge you 20 cents.
#935 of 1196 Re: Great thread - need advice [sthodla]
Nov 21, 2012 (6:10 am)
Where are you located? if you are near NY City, you I can provide you with a leasing company that can match my deal.
Your payment seems way high!
#936 of 1196 Re: X3 LEASE INFORMATION [Car_man]
Nov 21, 2012 (4:28 pm)
Car Man -- you indicate a rate of .00125 and 59% for a 2013 X3 3.5 with 15k miles per year. Aren't these the rates for the X3 2.8?
I am interested in a 2013 X3 3.5 for 36 months at 10k miles per year -- can you please confirm the latest money factor and residual %?
#937 of 1196 Re: Help! Your lease expertise is needed... [flightnurse]
Nov 22, 2012 (9:57 am)
I've also been trying to negotiate a lease for an X3 and this is the response I received from the dealer on the MF: The .00125 youre seeing is wholesale. My finance manager would like to make a profit, thus the retail rate is .00165.
I've been reading these post and it seems to me most folks are getting the .00125 or the rate we see from Car_Man, so I'm losing trust in the dealer.
We continue to haggle over the pricing as well. I offered $750 over invoice for my configuration but they countered at about $2500 over invoice. We've been doing this all over email.
I'm in the Twin Cities and there are two local dealers that I'm trying to have compete but they both are high on the sell price.
Am I just in a bad market or do I really need to sit for hours at the dealer to haggle?
Appreciate any insights.
#938 of 1196 Looking to lease 2013 BMW X3i 28 in Miami
Nov 22, 2012 (11:40 am)
I have recently re-located to Miami from overseas. As a result, I currently have no credit scrore whatsoever.
I am interested in leasing a 2013 BMW X3i 28 for my wife's use. BMW has a special leasing program, where in they lease vehicles to International Executives, who necessarily do not have the best credit score in the country (due to new relocation / move to USA).
Based on all information from the local dealerships in Miami, I have been quoted approx. $650+ per month (based on monthly payments + apportioning the down payment of $4K).
This is obviously super high, considering what I have read on this forum.
Can someone guide me into the basics of leasing or suggest me a dealership around Miami, so that I can save myself from being screwed royally by the dealerships here.
Thanks in anticipation.
#939 of 1196 Re: Great thread - need advice [iameuro]
Nov 23, 2012 (4:10 pm)
Unfortunately this is going to be a cali car but thank you for the offer.
What leasing company did you work with?
I just started engaging with a car broker to see I can find a better deal since I'm heading of the country for 2 weeks on vacation and need to make a decision before the end of the year.
I'm targeting around $550 for an x3 28i + Tech + Premium + Comfort Access with 0 down. Not sure if that's going to work out.
#940 of 1196 Re: Help! Your lease expertise is needed... [nstino04]
Nov 25, 2012 (5:16 pm)
you must be in a bad market for BMW. I am picking up an X3 (2.8, space gray, black leather, premium, tech, cold weather, sat radio, roof rails, bmw apps. 36 month, 12k miles) this tuesday. MSRP is $48145. invoice is $44900, and I'm paying $44070.(830 under invoice) then theres the $1000 holiday cash.
i'm putting down first month, doc fees(which they really pushed up to $399), DMV, and bank fee. about $2000.
monthly payment is at $550.
I think its a good deal. if anyone thinks otherwise, let me know and I'll see if I can still haggle a bit more..
#941 of 1196 Leasing in NYC
Nov 25, 2012 (6:28 pm)
Is this a good deal?
2013 X3 35i
My price: $51,500
Nothing down besides taxes and fees, comes out to 3,800 down. 620 a month for 36m/12k...I can't do MSDs since im in NY unless I go to a NJ dealer. The NJ dealer quoted me at 4100 down + 4200 MSD and 580 a month. What do you guys think?