Current incentives and finance offers

Anyone have the current money factors on leases and select?

It is located in 'Ask-A-Dealer' section:

March 2011
2011 BMW X3 xDrive28i SUV Lease
24 Month – Residual 62% of MSRP – .00200 Base Rate
36 Month – Residual 56% of MSRP – .00200 Base Rate
48 Month – Residual 42% of MSRP – .00200 Base Rate
60 Month – Residual 34% of MSRP – .00200 Base Rate

2011 BMW X3 xDrive35i SUV Lease
24 Month – Residual 62% of MSRP – .00200 Base Rate
36 Month – Residual 56% of MSRP – .00200 Base Rate
48 Month – Residual 41% of MSRP – .00200 Base Rate
60 Month – Residual 33% of MSRP – .00200 Base Rate

Just curious since I am about to begin this process but how does that compare to the normal rates? (or are those normal)? (can you tell yet this would be my first lease)

I am narrowing down my options (going to buy in the next 2 or 3 months) and one of the options I am considering is a lease of a BMW X3 xDrive 28i. My only requirements are that I want one with nav and sunroof (everything else would be nice but not necessary). Based on the BMW website my payment would be slightly above $500 (putting 5k down). Now that is the website and I'm guessing inflated numbers. Ideally I would like to have a monthly payment at or under $500 putting as little down as possible. I haven't been to the dealer yet to discuss what I want so it would be nice if I can go in knowing what to ask for/say....

Have the dealer run multiple quotes playing every option. You may want to investigate the select program which will yield a lower payment, but you have a baloon payment at the end of the term. If you plan on trading in at the end, and can buy the current car at the lowest possible price, you usually can come out with little or no damage.

That is what I was going to do but I was wondering if there were any special deals I should mention.... and I was planning on not purchasing the vehicle after the lease regardless.

I am either going to buy a 2007ish lexus is350 or lease a bmw x3 (amongst a few other options but those two are my front runners). I am leaning towards the x3 over the is350 primarily because its a new car vs. used.

One key factor in my decision is the warranty/maintenance plan and saving some money there (potentially saving quite a bit with it). I have heard too many reports of costly repairs to luxury vehicles (and bmw specifically). My brother has a mercedes benz and has had to spent a ton of money on repairs so the warranty would allow me to avoid that whole issue. That is also the reason I would want a lease 3 or 4 yr lease so I would be covered the entire time I have the vehicle.

I have done some searching here but have not seen a thread with impressions of the warranty/maintenance plan... Is it really as good as it sounds? (I know it doesn't cover everything) but has anybody had issues getting them to fix stuff that should be covered?

Get a quote from a dealership in the Zag network. Seems to be the only way to get a decent discount on the X3 right now. Some of us are getting as low as $500 over invoice.

Do NOT put money down on a lease. Use that money for multiple security deposits (see the Ask A Dealer sticky) or to pay sales tax.

I doubt you will be able to lease any 2011 X3 for no money down for $500 or less. You might be able to lease a no option X3 28i for ~$550 per month, but whats the point. The Hyundai Santa Fe is a nice car.

In my opinion it is better to buy from the dealer where you will be getting service if they are close on price. Generally, my experience has been you will get treated better if you bought the car there but that is of course not always the case. Go with a dealer who has a great reputation over saving a few $$$. I paid $1100 over invoice to buy from my local dealer vs. $500 over from a dealer that was 3 hours away. For me it was worth paying extra to avoid a lot of extra hassle.

The warranty and maintenance plans basically covers everything (yes everything) except tires.

No disrespect, but I disagree with nearly everything you just wrote.

Originally Posted by mhrir

Do NOT put money down on a lease. Use that money for multiple security deposits (see the Ask A Dealer sticky) or to pay sales tax.

How will this help if his goal is to lower his monthly payment?

Originally Posted by mhrir

You might be able to lease a no option X3 28i for ~$550 per month, but whats the point. The Hyundai Santa Fe is a nice car.

He can do BMW Select and come in under $500 a month, but it's not really worth it in my opinion. The whole idea of leasing doesn't sit right with me, and the Select program seems doubly toxic. But saying a Santa Fe is better than a 28i is just plane crazy. Would you trade your Z4 M Coupe for a Tiburon? They're essentially the same car, right?

Originally Posted by mhrir

In my opinion it is better to buy from the dealer where you will be getting service if they are close on price. Generally, my experience has been you will get treated better if you bought the car there but that is of course not always the case. Go with a dealer who has a great reputation over saving a few $$$. I paid $1100 over invoice to buy from my local dealer vs. $500 over from a dealer that was 3 hours away. For me it was worth paying extra to avoid a lot of extra hassle.

I've always bought my BMWs are out of area dealerships to save a substantial amount of money. My local dealership has always been more than happy to service them. The service dept couldn't care less where you bought your car. They get paid the same either way.

It's been my experience that the dealerships who will discount aren't as knowledgeable, friendly or accommodating as the dealerships who don't discount. But all you need your SA to do is place your order and hand you the keys. I don't want free coffee, car washes and back rubs from my dealership. I just want the best price. Money is money, and you can use the discounted savings to add options that you would not have otherwise been able to afford.

Originally Posted by MarcA78

No disrespect, but I disagree with nearly everything you just wrote.

How will this help if his goal is to lower his monthly payment?

He can do BMW Select and come in under $500 a month, but it's not really worth it in my opinion. The whole idea of leasing doesn't sit right with me, and the Select program seems doubly toxic. But saying a Santa Fe is better than a 28i is just plane crazy. Would you trade your Z4 M Coupe for a Tiburon? They're essentially the same car, right?

Diagreeing is not disrespecting. No need to apologize. Here are the problems with your statements:

1) BMW Select is not a lease, I only discussed leasing and I agree Select is a terrible option.

2) Putting money down on a lease is a bad idea. MSDs are the way to go... No question.

3) I never said a Santa Fe is better than an X3. The point is if the buyer is this sensitive to the payment and has unrealistically low expectation of what they can afford then a more reasonably priced alternative should be considered. If all I could afford is a Tiburon then thats what I would buy. Who wants to be car poor?

I've always bought my BMWs are out of area dealerships to save a substantial amount of money. My local dealership has always been more than happy to service them. The service dept couldn't care less where you bought your car. They get paid the same either way.

It's been my experience that the dealerships who will discount aren't as knowledgeable, friendly or accommodating as the dealerships who don't discount. But all you need your SA to do is place your order and hand you the keys. I don't want free coffee, car washes and back rubs from my dealership. I just want the best price. Money is money, and you can use the discounted savings to add options that you would not have otherwise been able to afford.

This is a matter of personal preference and experience. I agree money is money, but there is also being smart. Let me guess, are you one of these people who drive to the otherside of town to save a penny per gallon on gas? I am not going to pay thousands more to buy local but for a few hundred it is worth it to me. My time is worth something and I factor that into my buying decision, plus I don't have the luxury of several dealers within 50 miles of me.

As I live in Charleston, SC and always do a PCD, which ZIP codes are the best to enter into the AmEx Zag network for the best pricing to narrow down the field?

I have a great 8 year relationship with the service and parts department of my local dealership despite leasing from out of state dealerships, so I don't have to worry about the service aspect. It just blows me away that the local dealership is located in the PCD's 'backyard' and is not willing to be realistic in price.

Any one have experience with the Costco car dealership network

Have a 2 day M School in June, so need to order the M Sport X3 soon for a 3 day trip to the PCD. Giving my ED SA the 1st shot, but need other options just in case.

Originally Posted by mhrir

This is a matter of personal preference and experience. I agree money is money, but there is also being smart. Let me guess, are you one of these people who drive to the otherside of town to save a penny per gallon on gas? I am not going to pay thousands more to buy local but for a few hundred it is worth it to me. My time is worth something and I factor that into my buying decision, plus I don't have the luxury of several dealers within 50 miles of me.

I actually buy gas at the same station pretty much all the time. and it's the one right by my freeway on-ramp.
I agree that time is worth something, and that's why I don't play the negotiating game with dealerships who are unwilling to budge on price. I searched all the dealerships in a 50 mile radius and went with the cheapest one. My SA was a moron, they never remembered my name and they messed up my paper work three times. But I saved $3000.

Originally Posted by mhrir

3) I never said a Santa Fe is better than an X3. The point is if the buyer is this sensitive to the payment and has unrealistically low expectation of what they can afford then a more reasonably priced alternative should be considered. If all I could afford is a Tiburon then thats what I would buy. Who wants to be car poor?[/B]

I am not sensitive to the price other than wanting the best deal and I had kinda already budgeted $500/month for a car.... I was originally considering a used car but when I started reading about the bmw service package I added that to the list because it does have value not having to pay for even oil changes over the next 3yrs (plus all the other stuff it includes). I will not be paying that much more for a lease than the depreciation of a used car (about a $1600/yr difference). But for that $1600 I get a new car and all included servicing. I could easily blow that $1600 with repair bills if something went wrong.

The reason I mentioned a down payment is I currently have a 2001 Chevy Silverado that is worth about 6k on bluebook.... assuming I get aleast 5k for it I was going to use that as a down payment to lower my monthly payment. But maybe I do need to look at just paying $600-650/month (and putting nothing down) and putting that 5k to use elsewhere.

Originally Posted by jagowar

I am not sensitive to the price other than wanting the best deal and I had kinda already budgeted $500/month for a car.... I was originally considering a used car but when I started reading about the bmw service package I added that to the list because it does have value not having to pay for even oil changes over the next 3yrs (plus all the other stuff it includes). I will not be paying that much more for a lease than the depreciation of a used car (about a $1600/yr difference). But for that $1600 I get a new car and all included servicing. I could easily blow that $1600 with repair bills if something went wrong.

The reason I mentioned a down payment is I currently have a 2001 Chevy Silverado that is worth about 6k on bluebook.... assuming I get aleast 5k for it I was going to use that as a down payment to lower my monthly payment. But maybe I do need to look at just paying $600-650/month (and putting nothing down) and putting that 5k to use elsewhere.

That is fine, I was not directing anything towards you personally, I think the thread was hijacked by the other person and I chose to respond. I have no idea what your budget is so I was trying to keep my comments as general and as realistic as possible. My opinion is go with a zero down lease, use the cash for multiple security deposits if you choose, and make the monthly payment. If your credit is good you will get a great money factor and be driving a great vehicle.

Originally Posted by jagowar

I am not sensitive to the price other than wanting the best deal and I had kinda already budgeted $500/month for a car.... I was originally considering a used car but when I started reading about the bmw service package I added that to the list because it does have value not having to pay for even oil changes over the next 3yrs (plus all the other stuff it includes). I will not be paying that much more for a lease than the depreciation of a used car (about a $1600/yr difference). But for that $1600 I get a new car and all included servicing. I could easily blow that $1600 with repair bills if something went wrong.

The reason I mentioned a down payment is I currently have a 2001 Chevy Silverado that is worth about 6k on bluebook.... assuming I get aleast 5k for it I was going to use that as a down payment to lower my monthly payment. But maybe I do need to look at just paying $600-650/month (and putting nothing down) and putting that 5k to use elsewhere.

Multiple security deposits are different from putting money down. In response to someone saying MSDs won't lower your monthly payment, they certainly will, as each SD decreases the money factor. Like it's been suggested, you should really go read the Ask-A-Dealer stickies.

I just negotiated a 28i, metallic paint, premium package, technology package, sport activity package, heated front seats/steering wheel for $598/mo. This is with 7 security deposits and before tax. I pay tax on each lease payment in my state, so my total payment is $630/mo.

After going back and forth with the Q5, I just signed y'day on 28i, metallic paint, heated seats/steering wheel, pan moonroof, cargo net and mat for $480/month including sales tax. No cap cost, but with 7 MSD's and BMW loyalty MF.