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View Full Version : Does this seem high for a lease on 2004 X3?


bork111
11-05-2004, 08:06 AM
I've been talking with my dealer about a lease on a 2004 X3 2.5. Does this seem like a lot? I feel like I should be getting a better deal with the "super lease rates" that are going on with the 04s. Here are the details, let me know what you think:

2004 X3 3.5
Steptronic, Sport, Premium, Cold Weather Package, Xenons, Privacy Glass, Satelite Radio Prep.

MSRP = $41470
Negotiated price = $39375 (actually, this was my first offer, which they agreed to, but they we couldn't agree on the other numbers so the deal was abandoned).

Total Cap Cost = $40100 ($39375 + $725 acq. fee)
MF = .0011
Residual = 59% (for 12k/year)
Security Deposit Waived
Sales Tax 9.1% (gotta love WA state)
Monthly Payment = $551
Total due at inception = $771 (1st month + Licence + Doc)

When I showed up at the dealer, I was expecting to be paying about $520 (because I heard the lease rates were .0007) The dealer said that they couldn't do .0007, and I just wasn't comfortable with paying $550 when kept thinking about the fact that a loaded 05 3.0 is just about the same price.

Any thoughts? Should I go back to this dealer with tail between legs? Or tell them to get stuffed?

AB
11-05-2004, 08:27 AM
How many months is this lease for?

bork111
11-05-2004, 08:33 AM
I knew I'd leave something out. This is for 36 months and includes tax. Also, the MSRP I listed includes leather, which I forgot itsn't part of the 2.5 prem pkg.

AB
11-05-2004, 08:37 AM
I knew I'd leave something out. This is for 36 months and includes tax. Also, the MSRP I listed includes leather, which I forgot itsn't part of the 2.5 prem pkg.

I don't have my lease calc spreadsheet here at work, but it sure "smells" like a GREAT deal based on your cap cost, money factor, and the resulting payment you are getting.

sfca-325i
11-05-2004, 08:50 AM
You might want to check this thread out.

Gotta get into some of the postings, but the gist is a money factor of .0005 on the 04.

link (http://bimmer.roadfly.org/bmw/forums/e83/5872641-1.html)

bork111
11-05-2004, 09:01 AM
I wish I could get that kind of MF, but the dealer just isn't going for it. I was willing to take their offer if they would drop their MF to .0007 and get the monthly payments to $519. They wouldn't go for it. This dealership is known for high prices, and this is the only X3 with sport package left in the Pacific Northwest (I had another dealer check) and they most likely know that. Maybe it will sit on the lot for another month and then they'll be more desperate to get rid of it. Until then, I'll just save money for a down payment on an 05.

pjo1966
11-05-2004, 10:36 AM
I wish I could get that kind of MF, but the dealer just isn't going for it. I was willing to take their offer if they would drop their MF to .0007 and get the monthly payments to $519. They wouldn't go for it. This dealership is known for high prices, and this is the only X3 with sport package left in the Pacific Northwest (I had another dealer check) and they most likely know that. Maybe it will sit on the lot for another month and then they'll be more desperate to get rid of it. Until then, I'll just save money for a down payment on an 05.

Why not just go to another dealer? Even if it's the only one of its kind available, the new dealer can get it from the other.

bork111
11-05-2004, 11:08 AM
I actually tried that, too. The other dealer said that if it were any other dealership, they'd have no problem. But this is their "friendly competitor" and they usually don't do deals. (The two dealerships are only about 10 miles apart.) I guess they figure that people should come straight to them and pay their premium prices. This is the same dealership that charges $200 for an oil service :yikes: when the other dealer charges $79. I drive the extra 10 miles to save $140.

Ryouko
11-05-2004, 11:36 AM
Actually, that seems a little steep to me, we're getting our 2005 X3 3.0, final price about $41k. The car is currently in-transit, but with $2500 in capital reduction, we are getting it for $550/month, 36 months, 15k miles/year.


Blue w/Tan leather/premium sound/privacy glass/xenons/premium package/sat radio prep/heated steering wheel/power folding mirrors.

pjo1966
11-05-2004, 11:45 AM
Considering the Bork111 put down $771 and Ryouko put down $2500, it looks like Bork got a good deal.

jhwe46
11-05-2004, 01:34 PM
I've been talking with my dealer about a lease on a 2004 X3 2.5. Does this seem like a lot? I feel like I should be getting a better deal with the "super lease rates" that are going on with the 04s. Here are the details, let me know what you think:

2004 X3 3.5
Steptronic, Sport, Premium, Cold Weather Package, Xenons, Privacy Glass, Satelite Radio Prep.

MSRP = $41470
Negotiated price = $39375 (actually, this was my first offer, which they agreed to, but they we couldn't agree on the other numbers so the deal was abandoned).

Total Cap Cost = $40100 ($39375 + $725 acq. fee)
MF = .0011
Residual = 59% (for 12k/year)
Security Deposit Waived
Sales Tax 9.1% (gotta love WA state)
Monthly Payment = $551
Total due at inception = $771 (1st month + Licence + Doc)

When I showed up at the dealer, I was expecting to be paying about $520 (because I heard the lease rates were .0007) The dealer said that they couldn't do .0007, and I just wasn't comfortable with paying $550 when kept thinking about the fact that a loaded 05 3.0 is just about the same price.

Any thoughts? Should I go back to this dealer with tail between legs? Or tell them to get stuffed?


My MF was .0005 on a 3.0L It was BMW Financial's MF and had nothing to do with the dealer.

October rates for '04s

X3 3.0i

24 mo/15k mi 67% Residual Value Money Factor .00235 Base Rate
36 mo/15k mi 58% Residual Value Money Factor .00235 Base Rate
48 mo/15k mi 48% Residual Value Money Factor .00240 Base Rate
60 mo/15k mi 40% Residual Value Money Factor .00240 Base Rate

Remember, the dealer does not have to give you the base rate. It is always best to compare other sources. You can do this through LeaseCompare.com.

bork111
11-05-2004, 04:18 PM
Considering the Bork111 put down $771 and Ryouko put down $2500, it looks like Bork got a good deal.

I would gladly put an extra 1729 down to upgrade to the 3.0 litre engine and get an extra 3k miles per year. If I got Ryouko's deal, and downgraded to 12k miles per year, we would most likely be withing triple digits of eachother's total cost and he could smoke me on the street.

Ryouko
11-06-2004, 03:47 PM
I would gladly put an extra 1729 down to upgrade to the 3.0 litre engine and get an extra 3k miles per year. If I got Ryouko's deal, and downgraded to 12k miles per year, we would most likely be withing triple digits of eachother's total cost and he could smoke me on the street.

Right, for a 3.o (2005) versus a 2.5 (2004), I feel we got a pretty good deal. You should try hagling a little bit more. ^.~

Oh, and SHE could smoke you on the street. Get the manual, it'll make the 2.5 feel much peppier! :thumbup:

Dr. Phil
11-06-2004, 04:45 PM
The .0007 MF was for 24 month 3.0 leases, I know I have one. The 2.5 24 month MF was .0009.

Considering invoice on a model speced out the way you have it is $38,020 and you offered/got a deal for $39,375 you basically got bent over. Take MACO off and it is ~ $1,000 over on a car that is a model year old, is priced more then an 05 would be and probably has a lot of "friends" on the lot. You should pay no more then $400 over invoice IMO. I paid less if that helps you at all.

Walk from the deal...do a 3.0 @ invoice for an 04 or order an 05 3.0---it will cost you less.

Ryouko
11-07-2004, 06:11 AM
The .0007 MF was for 24 month 3.0 leases, I know I have one. The 2.5 24 month MF was .0009.

Considering invoice on a model speced out the way you have it is $38,020 and you offered/got a deal for $39,375 you basically got bent over. Take MACO off and it is ~ $1,000 over on a car that is a model year old, is priced more then an 05 would be and probably has a lot of "friends" on the lot. You should pay no more then $400 over invoice IMO. I paid less if that helps you at all.

Walk from the deal...do a 3.0 @ invoice for an 04 or order an 05 3.0---it will cost you less.

There is another very important consideration you should think about. The price difference between a 2005 2.5 with premium pkg and a 2005 3.0 with premium pkg is only about $1300 unlike the 2004 models which was almost $4k difference. Also, for 2005 the steptronic transmission is now part of the base price. So there's no extra charge for automatic.

Unless you are really in need of a car now, I would wait and order a 2005.

kyfdx
11-08-2004, 06:50 AM
I've been talking with my dealer about a lease on a 2004 X3 2.5. Does this seem like a lot? I feel like I should be getting a better deal with the "super lease rates" that are going on with the 04s. Here are the details, let me know what you think:

2004 X3 3.5
Steptronic, Sport, Premium, Cold Weather Package, Xenons, Privacy Glass, Satelite Radio Prep.

MSRP = $41470
Negotiated price = $39375 (actually, this was my first offer, which they agreed to, but they we couldn't agree on the other numbers so the deal was abandoned).

Total Cap Cost = $40100 ($39375 + $725 acq. fee)
MF = .0011
Residual = 59% (for 12k/year)
Security Deposit Waived
Sales Tax 9.1% (gotta love WA state)
Monthly Payment = $551
Total due at inception = $771 (1st month + Licence + Doc)

When I showed up at the dealer, I was expecting to be paying about $520 (because I heard the lease rates were .0007) The dealer said that they couldn't do .0007, and I just wasn't comfortable with paying $550 when kept thinking about the fact that a loaded 05 3.0 is just about the same price.

Any thoughts? Should I go back to this dealer with tail between legs? Or tell them to get stuffed?


They are jacking up your MF by .00025 and also upping your Acq. fee the maximum $200 to $725. IOW, they are doing you no favors.. Plus you are paying more than $1000 over invoice for an '04.

Just those two items alone are costing you around $25-30/mo.. If you get them to drop the MF to .00085 and the Acq.fee to $525, then you will have a fair deal. It still gives them a nice $1K profit. Personally, I'd make the security deposit.. that waiver costs you .00015 on the MF.. That is money that is gone... you get the security deposit back.. Make the deposit, get an MF of .0007

regards,
kyfdx

bork111
11-08-2004, 09:58 AM
Oh, and SHE could smoke you on the street.

Oops! SHE can smoke me! :)