I'm in the market (potentially) for an X3. I was actually interested in a 2013 X3 28i with premium/m sport/convenience/dynamic handling for about 500 over invoice. Silver on black or some variation for the color.
Couple of concerns:
I realize this is obviously an expensive vehicle, coming out to around just shy of 47,000. At a money factor of 0.00145 and residual of 56% for 36/12k, that comes out to a lease payment of about $657 with no additional cash down other than the normal fees.
That seems pretty high for this vehicle, even though it is a great vehicle. The Q5 is slightly cheaper but it's almost a wash in the end for me. I do like both vehicles. I definitely need a larger car because I've got a little one on the way. I'm also planning to buy a house in the next year, so I do realize that the payment could ding my credit score a bit. My wife and I both have very, very good credit so I'm not really worried about the back end calculation.
I do have a large amount of cash to put down, but I'm questioning whether this makes sense for this type of capital. I figure if I'd like a cheap, comfortable payment of like $550, I'd need to put down nearly $16k. That's a huge dent in cash flow at this time I'm imagining. I tend to keep my cars for awhile (last one I owned 7 years), so leasing would be new to me. I think I would be ok with the mileage situation for 3 years.
On the flip-side, I hope I don't fall in love with the vehicle. If I do choose to buy it after the lease, I would be paying a ton of money (obviously) which really makes no sense.
Decisions, decisions... I can definitely afford either route. Does anyone else think the X3 is slightly overpriced? I mean the base price is great, but adding any decent options (like the rest of BMW's) usually tacks on about $7-10k.
Couple of concerns:
- Owning a newer BMW outside of the warranty period. I realize how expensive this is with my 2003 E46, I am actually quite scared to imagine some of the newer vehicles.
- Leasing vs buying - suck up a larger payment or take a huge cash hit and have a comfortable monthly payment?
- Little one on the way... situation might change in 3 years so leasing might have an upper hand.
I realize this is obviously an expensive vehicle, coming out to around just shy of 47,000. At a money factor of 0.00145 and residual of 56% for 36/12k, that comes out to a lease payment of about $657 with no additional cash down other than the normal fees.
That seems pretty high for this vehicle, even though it is a great vehicle. The Q5 is slightly cheaper but it's almost a wash in the end for me. I do like both vehicles. I definitely need a larger car because I've got a little one on the way. I'm also planning to buy a house in the next year, so I do realize that the payment could ding my credit score a bit. My wife and I both have very, very good credit so I'm not really worried about the back end calculation.
I do have a large amount of cash to put down, but I'm questioning whether this makes sense for this type of capital. I figure if I'd like a cheap, comfortable payment of like $550, I'd need to put down nearly $16k. That's a huge dent in cash flow at this time I'm imagining. I tend to keep my cars for awhile (last one I owned 7 years), so leasing would be new to me. I think I would be ok with the mileage situation for 3 years.
On the flip-side, I hope I don't fall in love with the vehicle. If I do choose to buy it after the lease, I would be paying a ton of money (obviously) which really makes no sense.
Decisions, decisions... I can definitely afford either route. Does anyone else think the X3 is slightly overpriced? I mean the base price is great, but adding any decent options (like the rest of BMW's) usually tacks on about $7-10k.