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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 3 of 11

#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
Host
Prices Paid: Buying & Leasing Experiences Forum

#21 of 102 Re: Lease info on X1 xDrive28i xDrive35i [Car_man] by leeshuck

Sep 26, 2012 (11:36 pm)

Replying to: Car_man (Sep 06, 2012 6:15 pm)
Thanks Car_Man,
 
I have a 2010 135i convertible with BMWFS 36 month 12k miles/year lease terminating on 12/29/2012. I estimate I will have under 21,000 miles on the car by then, well under the 36,000 miles allowed. If I lease the X1 before my 135i lease is up, would the 135i be eligible for the pull ahead program and how does that work?
 
I could also take advantage of the BMW Ultimate Drive App offer for $300 off the first payment I believe, and I could also apply the $750 loyalty offer. I'll have $500 from my BMW Rewards car, too.
 
What's the best way to apply these to the lease where I have any choices?
 
Thanks,
 
Lee

#22 of 102 Re: Lease info on X1 xDrive28i xDrive35i [leeshuck] by leeshuck

Sep 28, 2012 (12:52 pm)

Replying to: leeshuck (Sep 26, 2012 11:36 pm)
That should be: $500 from my BMW rewards card (not car).

#23 of 102 Thanks...what do you guys think? by nias

Oct 03, 2012 (7:14 am)

Thanks Car_Man and company, this forum has been very helpful and informative (well, let's test that) ; ) Love some feedback whether I did right or not....
 
Based on: .00145 and 60%
a 36 month/10k mile per year lease:
2013 X1 xDrive 28i - Black on Black
$38,745 MSRP
$36,545 Selling Price
Premium Pkg. -
Cold Pkg.
For a monthly cost of....
$309.
... I traded in my old car for $5500 ($1900 still due) and put 3k down in addition to get the monthly down (didn't like putting equity into a lease, but wanted low monthly for a few years).
Thoughts?

#24 of 102 Re: Thanks...what do you guys think? [nias] by Car_man HOST

Oct 04, 2012 (3:53 pm)

Replying to: nias (Oct 03, 2012 7:14 am)
Hi nias. The truck that you described has a spread of a little over $3,000 between its MSRP and dealer invoice price. That probably puts you at around $800 or so over invoice...which sounds like a good deal to me.
 
The money factor and selling price look good, but I personally wouldn't have made such a large down payment.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

Messages Page 3 of 11

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