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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

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

Aug 27, 2012 (5:29 pm)

Replying to: Car_man (Aug 22, 2012 5:55 pm)
Hi Car_man,
 
I was wondering how you obtain the MF and residual value .......
 
Is it possible to receive a better rate from BMW than the 0.00145 (APR=3.48%) MF that is being calculated with the credit score above 780 - 800 range?
 
Which one would be a better pick? Lease vs. Buy? I am getting ready to order a X1 and just wonder what is the best to go with lease or buy.....
 
Thank you for your time.

#8 of 102 BMW x1 sdrive28i Lease by stillwaterla

Aug 29, 2012 (4:00 pm)

Hey guys,
 
I plan on ordering an X1 sdrive28i with the Ultimate Package. The MSRP is $38,195 and I've been quoted a selling price of $35,525 including the destination which I believe is fairly close to invoice?
 
This is for a lease, I've received a quote for 10k miles, 60% residual and 0.00145 money factor.
 
The question I have is, they've added in License & Registration, Bank Fee ($725), Doc Fee ($85) after the MSRP. Is this typical, to make the MSRP look more attractive? Should I negotiate a lower MSRP to negate those costs, or is there no headroom for this?
 
Thanks in advance!

#9 of 102 Re: BMW x1 sdrive28i Lease [stillwaterla] by jmcbmw

Sep 01, 2012 (8:00 pm)

Replying to: stillwaterla (Aug 29, 2012 4:00 pm)
The Bank Fee is standard for all leases and you cannot get out of it. Some call it an acquisition fee. BMW's base bank fee rate I believe is $725 and the doc fee of under $100 isn't bad (I recently paid $75). You can double check the base rate bank fee but I'm pretty sure this is the lowest it gets for BMW. Considering I have seen dealer finance departments mark up the bank fee $100 to $200 and other charge hundreds for doc fees, you're getting a good lease deal if the selling price is near invoice.
 
The X1 is a brand new offering and still low inventory and will prove quite a good seller/leaser. Make sure the money factor is not marked up from base rate (which it doesn't appear based on other posts) and you have what seems to be a very good lease! Good luck!
 
PS: I saw my first on the road today and I want an X1 !!!

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

Sep 06, 2012 (6:15 pm)

Replying to: leeshuck (Aug 26, 2012 12:50 pm)
Certainly Lee. BMW Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2013 X1 xDrive28i with 10,000 miles per year are .00145 and 57%, respectively. The numbers for an otherwise identical 42-month lease of this vehicle are .00145 and 51%.
 
The numbers for a 2013 X1 xDrive35i are .00145 / 59% and .00145 / 53%.
 
I gave you the 42-month numbers instead of the 48-month numbers because that is the longest term that BMW's special lease money factors are available for. You definitely don't want to go with the standard rates that a 48-month lease would use.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#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
Host
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
Host
Prices Paid: Buying & Leasing Experiences Forum

Messages Page 2 of 11

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