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X5 E70 (2007 - 2013)
E70 BMW X5 produced between 2007 and 2013. Discuss the E70 X5 with other BMW owners here.

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  #26  
Old 03-16-2013, 02:07 PM
old-school old-school is offline
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Quote:
Originally Posted by philooo View Post
I am glad to see some dealer are ready to help and provide service.

I was thinking of doing just what you did. I hope you get back to us to see how it goes for you.
I am not sure my local dealer will be as nice as yours. looking forward to read the outcome.

I might go see my local guy as well and see what they say about a similar proposition, where they hunt for me. The big advantage is that they can hunt for you in the BMW lease returns, which your local manheim broker cannot do.
I spoke to my friend yesterday and he told me he wanted to put me in a new 2013 X5 xDrive 35I sport activity fully loaded at 65K ( I think that is what he told me, it could have been 69K ), and the residual would be 34K after 3 years and 30K miles. I said no and he responded that on Monday we can meet in his office, fight it out, and I can go on the Mannheim site and pick out what I want if his case for this particular lease doesnt work out for me. They love those leases dont they? Not gonna happen because I want a 50i anyway!

Will keep you posted Monday evening.
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Last edited by old-school; 03-16-2013 at 02:10 PM. Reason: more information
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  #27  
Old 03-16-2013, 02:52 PM
PAX5 PAX5 is online now
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Glad to hear you said "no".

Primary objective of any new car dealer is to have more (new) sales. Now that your "friend" knows what you want (an X5 BMW) and he knows what you can afford (he ran your finances, right?) he will be after you trying to sell you a new one within those parameters.

Make sure he also shows you the BMWFS auctions ... I believe that they are run as a separate section within Mannheim and on different dates. Oftentimes BMWFS will also list the "asking price".
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  #28  
Old 03-16-2013, 08:44 PM
old-school old-school is offline
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Quote:
Originally Posted by PAX5 View Post
Glad to hear you said "no".

Primary objective of any new car dealer is to have more (new) sales. Now that your "friend" knows what you want (an X5 BMW) and he knows what you can afford (he ran your finances, right?) he will be after you trying to sell you a new one within those parameters.

Make sure he also shows you the BMWFS auctions ... I believe that they are run as a separate section within Mannheim and on different dates. Oftentimes BMWFS will also list the "asking price".
Yes they already ran my credit and I was approved depending on the vehicle at 1.9 to 3.9 interest rates. Thanks for the BMWFS idea. I will tell him about that also. Our meeting is scheduled for 1pm Monday. Will post when I get back!
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  #29  
Old 03-20-2013, 03:29 PM
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Originally Posted by PAX5 View Post
Glad to hear you said "no".

Primary objective of any new car dealer is to have more (new) sales. Now that your "friend" knows what you want (an X5 BMW) and he knows what you can afford (he ran your finances, right?) he will be after you trying to sell you a new one within those parameters.

Make sure he also shows you the BMWFS auctions ... I believe that they are run as a separate section within Mannheim and on different dates. Oftentimes BMWFS will also list the "asking price".

Ok here is the Lease deal on a
2013 X5 AWD $dr 35i Sport Activity with M Sport Package, HUD, Premium Package, Cold Weather Package, Convienence Package, Premium Sound Package, Technology Package, Multi Contour Seats, 20" Light Alloy Double Spoke Wheels, BMW Apps, Navigation, Satellite Radio, LOADED!
MSRP $72,020.00
Mileage Adjustment 2250.00
Residual 57% $38,231.00
36 month term
Cash Cap Red/Rebate Appt $1400
Capped Fees $795.00
Adjusted Cost $66045.00
Base Payment $857.06
Monthly Sales Tax 25.71
Estimated Payment $882.77

DRIVE OFF
Up Front Payments ( 1 ) $882.77
Security Deposit $6300.00
Cap Cost Reduction $1400.00
Up Front Fees $472.00
Cap Red/ Rebate Tax $42.00
Up Front Sales Tax $203.16
Cash due on Lease $9299.00
Trade Equity $0.00
Rebate $0.00
Deposit $0.00
Cash due at delivery $9299.93

Mileage Allowance is 15K
Charge Miles = .15 per mile

Here is the deal. IF I decide to do this, at the end of the lease I will get back $6300.00 if I either turn it in or I can use it for a deposit on another vehicle or use it as a deposit on this vehicle to finance. Also if I did not put over 45K miles on it I will get an extra $2250.00 so the total I will get back ( and this in in writing ) $8550.00 at lease end.
I HATE leases but this looks like a no brainer! This thing is one sweet ride too and I was suprised with the power it has considering its the 6 cylinder.

Comments welcome as I have this overnight. Here is a picture.
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  #30  
Old 03-20-2013, 04:11 PM
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Looks like it has mperformance + 15hp as well
Can u confitm that "old school"
It should have also Have metal brake and gas pedals too
Beautiful color...obviously !
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  #31  
Old 03-20-2013, 04:16 PM
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Question

By the way
It appears ur paying msrp for the car
72k? @ $882 per month
Is that correct
If so
Put on the brakes!
ARD or quack please respond ASAP !
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  #32  
Old 03-20-2013, 04:58 PM
old-school old-school is offline
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Originally Posted by 5seriesHB View Post
Looks like it has mperformance + 15hp as well
Can u confitm that "old school"
It should have also Have metal brake and gas pedals too
Beautiful color...obviously !
Yes it has the extra horsepower. Its a sweet ride with more power than I expected considering I drove the 50i M Package.
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  #33  
Old 03-20-2013, 05:01 PM
PAX5 PAX5 is online now
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Lousy deal, run, don't walk .. and bring the car back before you fall in love and go blind ...

I especially dislike getting money back at the end of the lease!! What kind of gimmick is this??? Are they at least offering you the same interest rate on your money as the lease rate???
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  #34  
Old 03-20-2013, 05:04 PM
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Originally Posted by old-school View Post
Yes it has the extra horsepower. Its a sweet ride with more power than I expected considering I drove the 50i M Package.

Also it has the maintenance package so the only thing I will pay for over the 3 years I have it are the tires if I decide to replace them. Which of course I would after time. They pay for everything that could go wrong with it even brake pads, windshield wipers etc etc etc.

Please give me your ideas about this deal because I am taking it back tomorrow morning. There is no pressure on me to buy this either. He told me before I took it home that dont worry if I decided not to get it he would be more than glad to sell me one from the Mannheim BMWFS auctions. He has some valid points about the price I can purchase this once the lease runs out, and also buying one of these 2011's with little warranty left and the costs associated with that. PLEASE HIT ME WITH YOUR COMMENTS NEGATIVE OR POSITIVE! The wife and I was taking it out tonight to play with it for a hundred miles or so. I will check back later.
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  #35  
Old 03-20-2013, 05:07 PM
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Originally Posted by PAX5 View Post
Lousy deal, run, don't walk .. and bring the car back before you fall in love and go blind ...

I especially dislike getting money back at the end of the lease!! What kind of gimmick is this??? Are they at least offering you the same interest rate on your money as the lease rate???
Can you be more specific? I can scan the lease agreement and the terms if that would help you. I dont get it either but getting money back at lease end sounds good to me lol
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  #36  
Old 03-20-2013, 05:14 PM
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I think 5seriesHB might be right. Bought a 5.0 M Sport in December. List 78.5K I had the dealer add tinted front side windows, black grills, and an extra set of floor mats. 15K per year 39 months $1,338 up front cash plus first months payment, which with tax (3%), is $800. Don't ask I just like round numbers. I figure their cost on the extras was $300 so my cap cost reduction and up front sales tax was 1K. BTW I drove 3.0D, 3.5i, 5.0, and M. To me the 5.0 with performance package was the best deal for me.
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  #37  
Old 03-20-2013, 05:50 PM
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Originally Posted by NCAMG View Post
I think 5seriesHB might be right. Bought a 5.0 M Sport in December. List 78.5K I had the dealer add tinted front side windows, black grills, and an extra set of floor mats. 15K per year 39 months $1,338 up front cash plus first months payment, which with tax (3%), is $800. Don't ask I just like round numbers. I figure their cost on the extras was $300 so my cap cost reduction and up front sales tax was 1K. BTW I drove 3.0D, 3.5i, 5.0, and M. To me the 5.0 with performance package was the best deal for me.
So you are saying your payments for 39 months are $800.00 for a 2013 X5 50i with M Sport package? And you only put down approx $2100.00?
What will your residual be?
Thanks please chime in EVERYONE!
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  #38  
Old 03-20-2013, 06:27 PM
PAX5 PAX5 is online now
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Originally Posted by old-school View Post
Can you be more specific? I can scan the lease agreement and the terms if that would help you. I dont get it either but getting money back at lease end sounds good to me lol
Step #1: ALWAYS negotiate the price of the car first! Do not base the lease on MSRP. Start with their invoice on this car (and if you can't get that, assume about 90%, or 0.90 times MSRP). Then negotiate a price for the car that is $xx over invoice, say $500 or $1,000 (some will say that is unrealistic, "you can"t buy new BMW's for $500 or $1,000 over invoice ...") That's now your base. Now deduct your trade in (you do have a trade-in, right?). You now have the price of your car.

Next, focus on the car's residual value, the interest rate and demand that they tell you the "money factor" (not the same as interest rate) ...

See also Car Leases
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  #39  
Old 03-20-2013, 07:53 PM
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Originally Posted by PAX5 View Post
Step #1: ALWAYS negotiate the price of the car first! Do not base the lease on MSRP. Start with their invoice on this car (and if you can't get that, assume about 90%, or 0.90 times MSRP). Then negotiate a price for the car that is $xx over invoice, say $500 or $1,000 (some will say that is unrealistic, "you can"t buy new BMW's for $500 or $1,000 over invoice ...") That's now your base. Now deduct your trade in (you do have a trade-in, right?). You now have the price of your car.

Next, focus on the car's residual value, the interest rate and demand that they tell you the "money factor" (not the same as interest rate) ...

See also Car Leases
Ok I have no trade in, I have cash down. I can put as much as I need to but I limit myself to $9900.00 for several reasons.
The way this lease is structured I am buying down the interest rate to .0010 percent. At lease end I walk away with ( if I do not go over 45K miles in 3 years ) approx $8600.00 to do as I wish. If I want I can purchase it for the residual value of $38,231.00 or apply the $8600.00 and finance 30,231.00 for up to 60 months according to the paperwork I looked at today.
Does this sound good? To me putting money down and getting in this at the amount per month he is quoting and at lease end getting 90% of my money back that I put down to begin with kinda looks like a no brainer, HOWEVER that may be the reason for this, I am not sure hence my asking people here. I leased once, didnt like it because of the way it was structured, but this one looks much more enticing. What am I missing here?
Thanks again
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  #40  
Old 03-20-2013, 08:00 PM
old-school old-school is offline
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Originally Posted by PAX5 View Post
Lousy deal, run, don't walk .. and bring the car back before you fall in love and go blind ...

I especially dislike getting money back at the end of the lease!! What kind of gimmick is this??? Are they at least offering you the same interest rate on your money as the lease rate???

According to the lease paperwork I am buying the interest rate down to .0010. Maybe I should go in tomorrow and tell him I will take this lease if he leases me this vehicle for 68K instead of the MSRP of $71,020.00

Sound fair to you? With this lease I am guaranteed to get back at lease end a check from BMW for approx $8600.00 give or take depending on the mileage when I turn it in. They are making this look extremely good to me. I keep looking at the paperwork trying to find something wrong with this deal or where they are making something out of nothing and I just cant see it. Maybe they will try to screw me at the signing but my guy knows I will get up and walk it they try that on me so..... Hence my predicament!
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  #41  
Old 03-20-2013, 08:05 PM
old-school old-school is offline
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Originally Posted by PAX5 View Post
Step #1: ALWAYS negotiate the price of the car first! Do not base the lease on MSRP. Start with their invoice on this car (and if you can't get that, assume about 90%, or 0.90 times MSRP). Then negotiate a price for the car that is $xx over invoice, say $500 or $1,000 (some will say that is unrealistic, "you can"t buy new BMW's for $500 or $1,000 over invoice ...") That's now your base. Now deduct your trade in (you do have a trade-in, right?). You now have the price of your car.

Next, focus on the car's residual value, the interest rate and demand that they tell you the "money factor" (not the same as interest rate) ...

See also Car Leases
Looking at the Lease workup sheet again I see that there is a Adjusted Cap Cost of $66050.00 on this car. The MSRP is $71020.00 with a $1400.00 rebate.
Does this give you more information about this lease as far as whether I am paying the MSRP of not?
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  #42  
Old 03-20-2013, 08:33 PM
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Quote:
Originally Posted by old-school View Post
Looking at the Lease workup sheet again I see that there is a Adjusted Cap Cost of $66050.00 on this car. The MSRP is $71020.00 with a $1400.00 rebate.
Does this give you more information about this lease as far as whether I am paying the MSRP of not?
Old school
Here u go!
this is a fact
This car u are looking at is sitting on a dealers lot "fact", its a 2013"fact". 2014 are going to be released this summer"pretty much fact". You should be able to get this car for invoice."my experience" invoice on this car is around 8% of the msrp."fact and my experience"
which equals $66,330. this # is 8% off which is what dealers usually work off of from my experience
now u work ur lease payment off of $66,330 or $66,330 minus any credits u might have coming. loyalty, bmw apps , BMWussa ate. these r just examples

ps find out what that $1400 credit is for and apply that after u negotiate a price.
Hope this helps
Rob
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  #43  
Old 03-20-2013, 08:50 PM
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Old-school the residual was 55% and the MF was .00076 (1.8%). I used 7 msd ($5600) to buy down the MF. The purchase price was 11.5% off msrp with all the incentives that were around in December. I don't think that there are as many incentives today. This is the fourth X5 I have leased. I find out what the going MF is and the current residual and the current incentives an I use a lease program I wrote in excel to run the numbers and present them to the dealer. I try to buy at invoice minus incentives. While the current wisdom is that invoice is 7% off sticker BMW does have dealer programs for meeting sales targets. So find a dealer who plays that game. Not all do. BTW if you want a copy of my excel program pm me. You can't do much about the MF or residual but you do have control over the purchase price and that has the biggest impact on the monthly payment. Good luck.

Last edited by NCAMG; 03-21-2013 at 04:34 AM.
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  #44  
Old 03-20-2013, 09:06 PM
old-school old-school is offline
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Quote:
Originally Posted by PAX5 View Post
Step #1: ALWAYS negotiate the price of the car first! Do not base the lease on MSRP. Start with their invoice on this car (and if you can't get that, assume about 90%, or 0.90 times MSRP). Then negotiate a price for the car that is $xx over invoice, say $500 or $1,000 (some will say that is unrealistic, "you can"t buy new BMW's for $500 or $1,000 over invoice ...") That's now your base. Now deduct your trade in (you do have a trade-in, right?). You now have the price of your car.

Next, focus on the car's residual value, the interest rate and demand that they tell you the "money factor" (not the same as interest rate) ...

See also Car Leases
Thought this might shed more light on this particular lease. Since you can see the numbers what would you do as far as tomorrow in concerned? Questions for the GM I should ask? Anything to help would be appreciated.
Thanks again
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  #45  
Old 03-20-2013, 09:26 PM
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Question

Old School...I have a question for u.
please answer to the best of ur ability. Remember ur under oath.

What price not "monthly payment" but purchase price did u come to an agreement on.
A. 72k
B. 72k - $1400 "mystery rebabte"
C. 66,330k
6. None of the above and your not sure! Which is ok for now, but will need to figure this out before u move forward
u will get and be so pissed when someone posts a much better deal on a similar car if u settle and find out there was so much more negotiating room on this deal!
Rob
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  #46  
Old 03-20-2013, 09:33 PM
old-school old-school is offline
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Originally Posted by 5seriesHB View Post
Old School...I have a question for u.
please answer to the best of ur ability. Remember ur under oath.

What price not "monthly payment" but purchase price did u come to an agreement on.
A. 72k
B. 72k - $1400 "mystery rebabte"
C. 66,330k
6. None of the above and your not sure! Which is ok for now, but will need to figure this out before u move forward
u will get and be so pissed when someone posts a much better deal on a similar car if u settle and find out there was so much more negotiating room on this deal!
Rob
Rob you are correct sir! I need to find out the price that he is using to make this deal. Minus any rebates etc etc etc. I will find this out tomorrow and hopefully it is around 66K
I think if it is that would be a good number.
What say you?
Thanks and dont worry about hurting my feelings about this. I will be the FIRST to admit I am not that smart when it comes to leases!
Again my sincerest thanks and you keep on educating me, I can take it ;-)
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Old 03-20-2013, 10:17 PM
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Old School
Ya see a few more things
and by the way
What im about to tell you , was told to me here on Bimmerfest
***You decide based on some simple criteria what your going to pay for the car****
****you need to have a few different quotes to play off each other****
even guys like Greg poland and other site sponsors are not going to throw there best deal our way just cause we called them. When i bought my car From Greg, i told him what i wanted.
Not him tell me!
When i just purchased my 2012 X5 Msport from Shelly BMW, I told them what i wanted the car for.
If i was you i would email your guy tell him that you found a few other cars fairly close in packages...2013's
and those dealers are willing to sell you the car for invoice or if u want to $500 is more believable.
Can he match it, if not what can he do. dont take it. come and bring us the details and well let you know where u stand "honestly"
If your not afraid of losing this deal you will get a great price, if u are then u wont!
U dont owe this guy at the dealership anything! specially your xtra hard earned money$$$$
Let me know if u can do this
I promise u will be happier! Its clear you want a good deal, and why shouldnt u get one...ur "old School"
My boy
Rob
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  #48  
Old 03-20-2013, 10:20 PM
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Exclamation

ps check out all these cars so similar w performance packages as well.
there just sitting around

http://www.penskecars.com/inventory....9&newused=true

ps ur guy has 2, a little more difficult to negotiate invoice when they have so few cars!
just sayin
http://www.leithbmw.com/searchnew.as...&extcolor=Gray
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Last edited by 5seriesHB; 03-20-2013 at 10:30 PM.
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  #49  
Old 03-20-2013, 10:35 PM
old-school old-school is offline
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Old School
Ya see a few more things
and by the way
What im about to tell you , was told to me here on Bimmerfest
***You decide based on some simple criteria what your going to pay for the car****
****you need to have a few different quotes to play off each other****
even guys like Greg poland and other site sponsors are not going to throw there best deal our way just cause we called them. When i bought my car From Greg, i told him what i wanted.
Not him tell me!
When i just purchased my 2012 X5 Msport from Shelly BMW, I told them what i wanted the car for.
If i was you i would email your guy tell him that you found a few other cars fairly close in packages...2013's
and those dealers are willing to sell you the car for invoice or if u want to $500 is more believable.
Can he match it, if not what can he do. dont take it. come and bring us the details and well let you know where u stand "honestly"
If your not afraid of losing this deal you will get a great price, if u are then u wont!
U dont owe this guy at the dealership anything! specially your xtra hard earned money$$$$
Let me know if u can do this
I promise u will be happier! Its clear you want a good deal, and why shouldnt u get one...ur "old School"
My boy
Rob
Thanks for the info Rob. Will this tactic work with a leasing model just as well as if I were financing it? If so I definitely do this. I do want the best deal and am prepared to do what is necessary to achieve it. I just want to make sure I know what I am doing, when I do it! Education is what I am trying to achieve here thats for sure. Right now he holds all those cards. I know nothing about leasing a vehicle and he is the general manager and knows all the tricks. I have to take the car back tomorrow so before I take it back I really need a quick education on my tactics when I deliver it back to them with the news that I received other offers from dealerships in my area. There is one more BMW dealership nearby that I could use. Of course he knows the GM there also so..... Could place me in a vunerable position if I were to lie about it. Comments?
And thanks again for all your help!

Oh I am not afraid if losing the deal thats for sure. I can afford to wait, thats not a problem. I will ask him tomorrow for the ACTUAL price I am leasing this car for. Then I will get his particulars of the lease in more detail. I will bring that information here and post it and let you and everyone else educate me as to how to get the best deal from them, or I will go to another dealership. My credit is almost perfect so I am not worried about financing or leasing, either one that I can get the best long term deal on I am willing to wait for. If not this one, I am sure one will become available, especially with the 2014's coming out soon.

Again thanks and I will get the details tomorrow for everyone.

Last thing. If he is leasing me the vehicle for 66K do you think that is a fair deal. Not sure about the $1400.00 so it could be the actual lease amount is $67,400.00
Good deal, or not?
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Last edited by old-school; 03-20-2013 at 11:02 PM.
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Old 03-21-2013, 07:56 AM
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Location: Pennsylvania
 
Join Date: Jan 2011
Posts: 946
Mein Auto: X5 50i
Quote:
Originally Posted by old-school View Post
Will this tactic work with a leasing model just as well as if I were financing it? ... I just want to make sure I know what I am doing, when I do it! Education is what I am trying to achieve here thats for sure. Right now he holds all those cards. I know nothing about leasing a vehicle and he is the general manager and knows all the tricks. I have to take the car back tomorrow so before I take it back I really need a quick education ...

I will ask him tomorrow for the ACTUAL price I am leasing this car for. <== DON'T ASK!! YOU TELL HIM WHAT YOU WANT TO LEASE IT FOR! That means being familiar with all terms involved in the lease contract ...

Last thing. If he is leasing me the vehicle for 66K do you think that is a fair deal. Not sure about the $1400.00 so it could be the actual lease amount is $67,400.00
Good deal, or not?
Educate yourself (click): http://www.money-zine.com/Financial-...in-Car-Leases/

"Leasing" or "financing" ... same difference, 'cept leasing is more complicated. Either way, you are using someone else's money to get what you want.

Do the math:

(Adjusted Cost $66,045.00) - (Residual 57% $38,231.00) = $27,814

The $27,814 is the "amount" you "use/finance" over 36 months, so your monthly payment would be $27,814 : 36 = $772.61, IF you could get this car with zero down and 0% financing. Instead, they are telling you that your payment is almost $100 HIGHER per month (am't includes approx $26/mo sales tax). In round numbers, the $75/mo is the "finance cost" of your lease. That works out to a rate of .... ???

What bothers me is the additional $6,300 "security" deposit ... WTF? That money sits in their account for 36 months? Tell them you'll put it into a "secure" account of your own, and use it to make your monthly payments. In addition, car will be insured ... that's security enough, isn't it?

Is it worth it? Can you afford it???

It's one heck of a payment, IMO.
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