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BMW X1 Lease Questions

102 messages,  Last post on May 07, 2013 at 9:29 AM

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What is this discussion about? BMW X1, Car Buying, Car Leasing, SUV

    

Messages Page 2 of 11

#11 of 102 Re: 2013 X1 xDrive 28 Lease Rate [awu0419] by Car_man HOST

Sep 06, 2012 (6:18 pm)

Replying to: awu0419 (Aug 27, 2012 5:29 pm)
Hi awu0419. .00145 is the lowest possible money factor for a lease of an X1 right now through BMW FS. It doesn't really matter how high your credit score is...as long as your score is over 675 you will qualify for this factor.
 
BMW's lease programs are typically fairly attractive. If you feel as though a lease would suit your needs, I personally wouldn't have any problem with leasing an X1 right now.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#12 of 102 Re: 2013 X1 xDrive 28 Lease Rate [tony411la] by awu0419

Sep 07, 2012 (7:03 pm)

Replying to: tony411la (Aug 11, 2012 10:01 am)
Hello Tony411la,
 
I see you have a MSRP of $47,220. What is the selling price of the X1 M Sport you ordered? Was there any luck to get any discount on the vehicle that is being ordered?
Just curious, because I am getting ready to place an order as well.
 
Thanks so much for your time.

#13 of 102 Re: 2013 X1 xDrive 28 Lease Rate [Car_man] by awu0419

Sep 07, 2012 (7:07 pm)

Replying to: Car_man (Sep 06, 2012 6:18 pm)
Thanks Car_man,
 
I appreciate your replay. Looks like the lease interest rate is 0.00145 (APR 3.48%) and purchase finance rate 3.79%. From your experience, which is better? buy or lease......
 
I review the lease contract there are so many fees ......but I do know BMW owners who lease usually end up buying the car at the lease end using their 0.9% APR ......Will that work better financially?

#14 of 102 Re: 2013 X1 xDrive 28 Lease Rate [awu0419] by Car_man HOST

Sep 09, 2012 (8:00 am)

Replying to: awu0419 (Sep 07, 2012 7:07 pm)
You're very welcome awu0419. Which is better really all depends upon your circumstances. If you're the type of person who keeps their vehicles for a number of years then you may want to consider financing. If on the other have you are the sort of person who gets a new vehicle every couple of years then you definitely want to lease. BMW's inflated residual values usually make leasing a very attractive option.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#15 of 102 Re: 2013 X1 xDrive 28 Lease Rate [Car_man] by awu0419

Sep 09, 2012 (11:27 am)

Replying to: Car_man (Sep 09, 2012 8:00 am)
Hi Car_man,
 
Much appreciated from your previous feedback on lease or buy.
 
I got a quote from a BMW dealer in Charlotte, NC. There are only two dealership here anyway and both own by the same company so I don't have much choices living in the Queen City. Isn't that insane? LOL......
 
Here is the quote I got:
 
The configured vehicle MSRP = $45,995
Quoted at Invoice price with Window Tinting =$42,885 (Including Destination charge)
 
The dealership added the following to my quote:
1. Sales Tax 3% with Trading in = $656.52 (I have a trade-In as well so paying less on tax.)
 
2. Transfer Tag/Title= $55.00
3. Administration Fee=$499
4. NC State Inspection = $13.60
5. Vehicle Detailing = $275
6. Shop Supplies = $10.75
7. Mark up from Invoice Price= $200
 
I calculated the dealer mark up using odd terms on #4,5,6 and 7 = $499.35
 
Final OTD price = $44,059.52
 
I also have the drive for USA Olympic certificate so I can get $1000 off from the vehicle price which is included in the OTD price.
 
I think the dealership charge my for stupid items like #3,#4,#5 and #6 whcih should be included as part of the administrative fees. They just trying to confuse customer using terms that we are not familiar in the car business. I don't think these are reasonable nor valid fees. What is your opinion on those fees?
 
Do you think this dealership is worth doing business with?
 
Thanks for your time.

#16 of 102 Re: 2013 X1 xDrive 28 Lease Rate [awu0419] by Car_man HOST

Sep 10, 2012 (3:52 pm)

Replying to: awu0419 (Sep 09, 2012 11:27 am)
You're welcome awu0419. Some of the charges that you mentioned certainly do look silly, such as the "Shop Supplies" and the "Vehicle Detailing." These are just business expenses that all dealerships have to pay but usually don't break out separately. The "Administration Fee" is also often called a doc fee. Despite how annoying they are, most dealers charge them.
 
Having said all of that, ultimately the total selling price that you are being charged for the X1 that you want seems reasonable to me, especially considering the lack of competition in your area.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#17 of 102 2013 BMW Lease rates in SF Bay Area by netarc

Sep 11, 2012 (1:20 pm)

Replying to: Car_man (Sep 10, 2012 3:52 pm)
I'm surprised to see lease rates here in SF being quoted at 0.00185, in light of the .00145 I've been seeing mentioned here, in other forums and at http://www.ridewithg.com/index.php/2012/09/2013-bmw-lease-rates-september-2012/
 
Three dealers I've contact have the same rate; can I expect that the MF would be that much higher based on the region, then? Is MF something that can be negotiated with the dealer?

#18 of 102 X1 2.8 by nyc_eng

Sep 13, 2012 (3:16 pm)

Car man, can you tell me what the residual is for a 2 year lease on an X1, 15k/year?
 
Thank you!

#19 of 102 Re: 2013 BMW Lease rates in SF Bay Area [netarc] by Car_man HOST

Sep 24, 2012 (4:27 pm)

Replying to: netarc (Sep 11, 2012 1:20 pm)
Hi netarc. The reason why the dealers are quoting you a higher money factor is that they are marking BMW FS' buy rate up. This is pretty typical with BMW dealers, particularly on new models like the X1. If you can, try to find a dealer that will calculate your payment using the .00145 buy rate.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#20 of 102 Re: X1 2.8 [nyc_eng] by Car_man HOST

Sep 24, 2012 (4:29 pm)

Replying to: nyc_eng (Sep 13, 2012 3:16 pm)
Hi nyc_eng. BMW Financial Services' September buy rate lease money factor and residual value for a 24-month lease of a 2013 X1 2.8 with 15,000 miles per year are .00145 and 57%, respectively for consumers who qualify for its top credit tier.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

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