What lease rates have you guys gotten so far?

[avo8686]

Well I dont know if I got a good deal. On one side they gave me excellent trade value for my old X it was a 2006 X5 3.0I with sport package,premium,xenons,servotronic,automatic transmission,rear climate and privacy glass.. it had 29,303 miles they gave me $37,500


The new X5 a 2007 white with black interior,premium,third row seating,sport,SAT radio,technology package,active steering,rear seat entertainment,premium sound,rear climate package, multi-contour seats,comfort access, running boards and finally ipod / usb adapter.

The MSRP came out for like $67,000 something I got a lease for 36 month with 15,000 miles a year and a monthly payment of 985+TAX

I'll post pics tomorrow

[AutoXer]

I am working on a similar lease deal now too, numbers have not been finalized yet, but price of around $67,000, 36 months, 12k miles/yr, coming in at around $985/mon + tax.

[avo8686]

autoxer: you cant imagine how much margin they have to play with you. Our sales guy was like no I cant go lower than that it is impossible. Then I was like ok I'll have to order a different X with less extras.As soon as I said that he said let me talk with my manager to see what can I do.. He came back with this deal, but before we were in the 1,300 to 1,190 range.. you cant be flexible .. and remember something, THIS CAR IS JUST F>>>>>>> AWESOME!!!! I've been thinking the whole day how can something as perfect as the E53 X5 be improved? ENJOY!

[AutoXer]

Actually I am negotiating on a 2008 550i, they are not going down much because it's brand new and not too many dealer have them. I might have to order it. MSRP with the options I want is around $68k, the best I can hope for is around $3000 below.

I am going for the 36 months/12k miles per year no money down lease. Money factor is 2.9, residual 61%. Do you know what kind of lease terms you are getting?

Good luck!

[josejb70]

AutoXer, your money factor better not be 2.9! -- Money factor is an altered way to show interest rate. The way you get from money factor to interest rate is by multiplying the money factor by 2400. For example, 5% interest translates to 0.0020 money factor (5 divided by 2400).

If your money factor truly were 2.9, that would translate to 6,960% interest rate! which I am sure is not the case. NOW! if your money factor is 0.0029, that translates to 6.96% (0.0029 times 2400) which is way too high!

BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 X5 3.0 with 15,000 miles per year are 0.00230 and 58%, respectively. The numbers for an otherwise identical lease of a 2007 X5 4.8 are exactly the same.

Check out the Edmunds forums. They all have lease question threads with very knowledgeable people.

Jose

[AutoXer]

Interesting. BMW Financial is quoting me money factor 0f .0029 on this car. I had questioned them about it, but they told me that it's different for different cars. I don't see why because financing is financing.

[chris24]

Originally Posted by avo8686

autoxer: you cant imagine how much margin they have to play with

Margin is about $5k - 6K, and you can get the invoice price on edmunds.com. But regardless, supply and demand is all that matters. Best discount I've heard of on here is less than $3000, most people getting around $1500 on average. Options on this car barely impact that margin, so I doubt many dealers are going to discount the car more or less based solely on threatening to remove options...

Going from $1300/mo to 1190 down to 985 sounds more like they were looking at the wrong lease program. I highly doubt they took off over $200/month (somewhere around another $8000 off MSRP) based only on threatening to remove options. They'd be losing money on the car to take off more than 5 or 6k. 1100/month with taxes paid up front (or not yet added to payment) should be more about a purchase price (MSRP - discount) of about 71-72k, maybe more.

[xsracer]

Hello, first post here

Anyways, picked up 4.8 model 2 weeks ago. 986/mon + tax for 73.5k MSRP. They gave me 2k off and the rate is .00210 for 10k miles. Apparently a pretty common deal. Got the same deal from 3 different dealers in the area.

One thing that could also affect the price - they can wave security deposit for a higher rate. I don't remember exactly how much they add. I figured I'd rather give them a security deposit, which I'll most likely get back.

[chris24]

In some states, like NJ I think (not NY), you can also put down extra security deposits to lower the rate (up to 7 or 8 deposits). Not sure it makes sense considering the difference in rate is probably lower than the interest you can earn with that cash, but could be worth looking into.