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rallypunx
01-21-2007, 05:58 PM
I'm currently awaiting for our new 2007 X3 to arrive by the end of this month and I have some questions regarding leasing.

Does anybody know the leasing formula for the X3. I was able to get the vehicle with the options we wanted from $40,770 down to $39,000 on a 36 month lease, but the monthly payments they are quoting me seem high for the final price of the vehicle. They are telling $541 + tax. I had done an online quote before from another dealer and they had quoted me $463 + tax on a 36 month lease for an X3 with a final price of $42,545. Both were with 0 cap reduction costs. I've read in this forums that some dealers will fluff the monthly payment so they can get the money they reduced on the final price back in the monthly payment.

I would like to do my own calculations to verify. If anybody has any experience or/and knows the values I need to plug in to the lease calculator, I will greatly appreciate it. I want to ensure everything is being fair in the deal. I've worked very hard for my money, plus I want my first BMW experience to be a pleasant one. One of the reasons we decided to move up from other brands. Thanx.

MJS
01-21-2007, 06:46 PM
Go to this thread for the MF and Residuals.
http://www.bimmerfest.com/forums/showthread.php?t=182693
How many miles are you doing? 10K, 12K or 15K?

Then hit a lease calculator site and input your variables. Such as this one:
http://www.autoleaseadvisers.com/calc/calc.php

Negotiate your purchase price. Run the calc ahead of time for various purchase numbers and print them out and take them with you. Don't be afraid to tell the sales person that the residual and MF are x and by your calcs the payment should be y.

Good luck.

Mike

rallypunx
01-22-2007, 05:46 PM
Thanx for the information. Exactly what I was looking for. Now back to the dealer. It seems like their math is totally off from my calculations.

schley
01-22-2007, 06:18 PM
MJS gave you the link to the lease calculator that I use exclusively. It is very user friendly and accurate.

You only need to decide 3 things.

how much over invoice
profit on acquisition fee 200 possible
buy rate MF

I would suggest 1k over dealer invoice, inclusive of MACO.
825 acqustion fee
buy rate mf

There should be no surprises at all when you roll in the maco fee into 1k dealer profit. You will have dmv fees and a doc fee but nothing more.

rallypunx
01-23-2007, 07:00 PM
I used the calculator and input all the figures and it seems the dealer is trying to get me somewhere. I calculated everything and it came to $497.85, instead of the $541 they told me before. I did the calculations on 2 other lease calculators and they all came with the same figure. I couldn't go to the dealer today and can't go tomorrow, but will definitely go on Thursday with Blackberry in hand (calculator website works great on the PDA) and plenty of printouts and see what they say. I want to get this vehicle, but I'm not going to give my money away just to get it. They are not the only BMW dealer in South Florida, so I can walk away at any time and go to one of the other ones.

MJS
01-23-2007, 07:20 PM
Right on. That's a huge difference.

How many miles are you doing on your 36 month lease?

dsb
01-25-2007, 08:51 PM
What Schley suggests is exactly what I paid. $500 over invoice +180 training fee + 300 MACO equaling roughly $1K. MF buy rate at .00150 and $825 Acq fee. 65% residual with 15K miles per year. MSRP was at 42500. Payments with tax (7.375%) is $509. I think the MF rate is a little higher now.

PS. I think you should go with either 10k miles or 15K miles. I think those are the only ones that make sense given the residuals. Basically, if you go with the 66% residual, then just bite the bullet... go with 65% and get 15K miles a year. It's worth the money especially if you really enjoy the vehicle and drive it more than planned.

schley
01-26-2007, 12:13 AM
What Schley suggests is exactly what I paid. $500 over invoice +180 training fee + 300 MACO equaling roughly $1K. MF buy rate at .00150 and $825 Acq fee. 65% residual with 15K miles per year. MSRP was at 42500. Payments with tax (7.375%) is $509. I think the MF rate is a little higher now.

PS. I think you should go with either 10k miles or 15K miles. I think those are the only ones that make sense given the residuals. Basically, if you go with the 66% residual, then just bite the bullet... go with 65% and get 15K miles a year. It's worth the money especially if you really enjoy the vehicle and drive it more than planned.

You got a good deal congrats....:thumbup:

The residual goes up 2 % for 12k not just 1% thus it would go up to 67% from your 65% and up to 68% if he did 10k a year.

I always would run all three scenarios and keep in mind you can purchase miles at 16 cents a mile up until 6 months from lease termination. If you got a great lease deal it doesn't help as much to go down to 12k or 10k, provided you know you will drive at least 15k. If you have a car with a higher MF like an M or similiar with the standard MF then going down to 10k makes sense and buying miles 6 months till lease termination.

xsr71x
01-27-2007, 07:14 AM
I used the calculator and input all the figures and it seems the dealer is trying to get me somewhere. I calculated everything and it came to $497.85, instead of the $541 they told me before. I did the calculations on 2 other lease calculators and they all came with the same figure. I couldn't go to the dealer today and can't go tomorrow, but will definitely go on Thursday with Blackberry in hand (calculator website works great on the PDA) and plenty of printouts and see what they say. I want to get this vehicle, but I'm not going to give my money away just to get it. They are not the only BMW dealer in South Florida, so I can walk away at any time and go to one of the other ones.

I seem to be having the same problem, their numbers don't add up and no one can explain it.:mad:

xsr71x
01-27-2007, 07:39 AM
figured it out...there is a dealer fee you have to add to the calculator $399 for me YMMV.
and it doesn't add back the acquisition fee to up front cost.


here is my deal:
MSRP - 42,470
Cap Cost - 40,995
Acq Fee - 625
Security Deposit - 600
Tax rate 7%

My quote:
$2249 down
$572/mo

dsb
01-27-2007, 01:47 PM
You got a good deal congrats....:thumbup:

The residual goes up 2 % for 12k not just 1% thus it would go up to 67% from your 65% and up to 68% if he did 10k a year.

I always would run all three scenarios and keep in mind you can purchase miles at 16 cents a mile up until 6 months from lease termination. If you got a great lease deal it doesn't help as much to go down to 12k or 10k, provided you know you will drive at least 15k. If you have a car with a higher MF like an M or similiar with the standard MF then going down to 10k makes sense and buying miles 6 months till lease termination.
Well... I guess I was calculating the residual wrong. So far it's a great vehicle. It's a bit smaller than expected but it's also better handling than expected.:thumbup:

BTW, if we come shy of the 15k miles, I'll start using it as my commuter. I don't plan on giving anything back to the dealer;)

MJS
01-27-2007, 04:28 PM
It's a bit smaller than expected but it's also better handling than expected.:thumbup:

Where does it feel smaller than expected? Just curious, as I will have a second kid in about a month or so.

dsb
01-27-2007, 10:17 PM
We just sold off a Toyota Highlander 5 seat version. The X3 rear legroom is quite a bit shorter than the Toyota. My kids are constantly kicking the back of the seats. My 6yr old daughter can control herself but my 3yr old boy can't help himself. Since it's my wife's car, I sit passenger and my son is behind me. Now, I'm only 5'8" so I don't need lots of legroom. However, we still have the 'kick the seat' problem. Our fix? We just take my son's shoes off when he's in the car. That way, at least it's socks not shoes scuffing the seat-back.

Also, the car is a bit narrow. I kinda spread my legs (makes jokes here) while sitting. There's not much room for that. I now know what BMW means with 'SAV.' If I were blindfolded, I'd swear I was sitting in a 3 series. This thing is just as small and seems to handle just as well even with it's taller stance.

That said, we still enjoy the vehicle. I just miss things like being able to fit golf clubs widthwise. I know people say the X3 is bigger than the X5 but I just don't see it.

MJS
01-28-2007, 06:21 AM
Yeah, I agree with your comments on the rear seat leg room. When I was shopping for a small SUV, we checked out the Toyota RAV4 and it's rear seat was way more spacious than anything else. With the front seats all the way back, I(5'11") could sit in the back and my knees wouldn't even touch the front seats.
My wife really like the RAV4, I ended up doing a 2 yr lease on the X3. It just performed so much better and was more of a driver's car. Plus I didn't like the swing out rear gate on the RAV4.
We'll see how the seat kicking goes for me. My daughter will be 2 in April, and our son will be born at the start of March. In two years they'll be 4 and 2, and we'll probably have a 3rd on the way. Which is why I did a 2 yr lease.