Help with this lease quote for an '06 4.4i

[discoball]

Hi everybody..........here's the quote I got last night from my dealer for a lease.....

2006 X5 4.4i
Premium Package
Sport Package
19" Star Spoke Alloy Whels (Style 132)
Comfort Seats
Premium Sound
MSRP: 61,745

36 Month Lease
10,000 miles per year
Disposition Fee: 350.00
Security Deposit: 700.00
Acquisition Fee (Upfront): 625.00
Fees & Ins. (Upfront): 55.00
Upfront Taxes: 2,237.93
Total Out of Pocket/Initial Charges (Drive off amount): 4,317.31
699.38 per month
37,047.00 purchase option

I'm not trading anything in & I'm not sure what the "residual" and "money factor" is - this is my first experience with a lease. My original plan was to finance for 5 years but the dealer gave me this quote too to consider. Only thing I noticed is that she used the MSRP for the lease option and close to invoice price for the finance option. PS - I'm expecting a call from her in about 3 hours to let me know if I can special order Carbon Black.

Thanks!!

[Thunder22]

Regardless of leasing or buying she should have used the same close to invoice price for both options or she's screwing you.

you really need to find out the lease factor for anyone to help you with this. (the residual is the $37k "purchase option")

maybe you could check out swapalease.com to compare what others have for leases.

[discoball]

hmmm....just checked swapalease.com but everyone else's lease payment for an '06 4.4i is higher than my quote. When she calls this morning, I'll ask about why she used MSRP on the lease quote. Thanks gresch!

[PLAYERPRO]

[quote=discoball]Hi everybody..........here's the quote I got last night from my dealer for a lease.....

2006 X5 4.4i
Premium Package
Sport Package
19" Star Spoke Alloy Whels (Style 132)
Comfort Seats
Premium Sound
MSRP: 61,745

36 Month Lease
10,000 miles per year
Disposition Fee: 350.00
Security Deposit: 700.00
Acquisition Fee (Upfront): 625.00
Fees & Ins. (Upfront): 55.00
Upfront Taxes: 2,237.93
Total Out of Pocket/Initial Charges (Drive off amount): 4,317.31
699.38 per month
37,047.00 purchase option

GL to ya!
Idk.. where's the Navi?
Where's the Panarama Sunroof?
Did i miss sports package?
also fif you agreed to the estimate from the MSRP price? if not re-do the estimate..
and me personally i see no benefit from upfront taxes on delivery...
Security Fee? IDK..

I just agree to pay 1st Month, Bank fee on delivery.

GL

[Thunder22]

don't let her give you any b.s. about BMW doing leases at MSRP either, I've leased 2 X5's at or close to invoice. Also, specifically ask her what the money/lease factor is. whatever she tells you the lease factor is (usually something like .0012, to convert that to APR move the decimal 3 places to the right and multiply by 2.4, so in this case your interest rate is 2.88, which is good)


in ny you have to pay taxes either up front or you build them into the lease. It's a personal choice. I don't like being out of pocket up front, so I usually put them in the lease and pay a little extra ( you pay interest on the taxes).

If this is the fist time he's leasing from BMW they always charge a security deposit, some dealers will waive it if you have good credit.

I would highly doubt that they'll waive the bank fee.

be careful in NY with those xenon/adaptive headlights, they're still a hot commodity for thieves.

[Modcat]

I agree the delaer should be providing selling price money factor and residual.

Last July the money factor went down and they gave you the residual for 39 mths. I would wait until July.

[xx3]

This might seem obvious, but I just want to make sure...

You do know that the E70, the second generation X5 is going to debut in november.

I don't want to sway you from your decision to buy an E53 (a fine car), but at the same time, I don't want you to buy a car and then feel like an idiot later, not knowing that the new model was coming out...

[nicolaasdb]

I leased an X5 for my wife 2 months ago....paid 16K down and 233 per month for 245 months 12K miles a year....3.0i with about 10K in options (total 52K)
knowing that the new X5 would come out soon...but I never want the problems 1st model cars have...

[Thunder22]

Originally Posted by nicolaasdb

I leased an X5 for my wife 2 months ago....paid 16K down and 233 per month for 245 months 12K miles a year....3.0i with about 10K in options (total 52K)
knowing that the new X5 would come out soon...but I never want the problems 1st model cars have...

that means that you're paying $900/month for a 24 month lease. (i'm assuming that the 245 is a typo and you meant 24). That seems pretty high to me. What's the lease factor?

Why did you give them $16k down? why not just bank that $16k and make monthly payments? (assuming you could earn interest on the $16k as you drew down on it for the monthly payments)

[nicolaasdb]

my wife wanted a new car...I didn't want the hassle....paid 16K down, because I don't want to feel the "pain" every month...now I just fool myself in thinking "pfff 233 who cares"....in the end I pay 21K or so....guess I got screwed by the dealer, but you know what in 22 months I need another car...and I won't be in a hurry, I will care and I will sit with him and negotiate...and in the end buy my car elsewhere.....

All the talk about when you pay money down ......the money is gone anyways....in the end you got to add all your payments up and see how much your total is....I bet it is pretty scarry how much we pay for our vehicles!