lease deal

2007-x5 · #1 10-30-2008, 02:47 PM

hello,i went to the dealership trying to lease a new 2009 x5
(btw the new name is xdrive30i) and this is the deal they gave me...and i just want to know if these numbers are still inside the protocol;like if they are not trying to steal me a lot or something like that;i mean i know if i shop around i could get a better deal but it seems an ok deal to me....

MSRP:$57,000 (and $60,000 including taxes)
DOWN PAYMENT:$4000
MONTHLY PAYMENT:$960

THE LEASE TERM IS FOR 36 MONTHS WITH 15,000 MILES

TOUGHTS?

Texas5 · #2 10-30-2008, 06:57 PM

Looks like a real crappy deal, but impossible to tell with the details provided:

-any trade in equity or deficit to roll into the new lease?

-taxes, fees?

-residual seems very high for 36/15K - s.b. more like 55%

-money factor? on an '09, probably high, like 0.0027

Even with all this, you'd still get a payment that is much lower than $960

2007-x5 · #3 10-30-2008, 08:03 PM

the residual should be 55%?but doesnt bmw lease rate says 58% for the x5? i saw that info on bimmerfest...and taxes are about $3500...
how much do u think i should be paying monthly for a decent deal?

azmp1 · #4 10-30-2008, 08:18 PM

the residual on X5 is at 59 right now, i just came back from the dealer, we've picked up an 08 X5 since our 05 is up on lease.
$960/m with 4000 down does sound like a pretty crappy deal since basing on $57K price tag is not even that loaded.
For $960/m you should be looking at a $63K+ fully loaded vehicle. also don't forget you're paying $4K down, each grand buys you down about $30/m.

2007-x5 · #5 10-30-2008, 08:26 PM

so residual right now is at 59%? so if you add taxes and fees and all that bs to the residual then the residual would be about 63 or 64% right? and thats what my residual is at my lease deal...am i missing something here?

azmp1 · #6 10-30-2008, 08:36 PM

i'm not exactly sure how the residual is figured. i'm just telling you what the dealer has told me. also don't forget about the apr. right now there's a deal special with 0.9%, it will be going back to 1.9% soon.

2007-x5 · #7 10-30-2008, 08:46 PM

yeah i know about the 0.0 special but thats for the 2008 models and im looking to get a 2009 ...to answer your question the residual is figured like so: monthly payment x lease deal term + down payment / msrp

so in my case is 960 x 36 + 4000 divided by 57000 wich is 67% residual

BGM · #8 10-30-2008, 08:56 PM

This is exactly the reason why I don't lease--too many "factors". I'm not an expert on leasing but if you put $4K down on only a $57K vehicle and it's still $900 a month that seems pretty high.

JCL · #9 10-31-2008, 09:55 PM

Quote:

Originally Posted by 2007-x5

yeah i know about the 0.0 special but thats for the 2008 models and im looking to get a 2009 ...to answer your question the residual is figured like so: monthly payment x lease deal term + down payment / msrp

so in my case is 960 x 36 + 4000 divided by 57000 wich is 67% residual

That is not the definition of residual. Residual value is what figure is used in the calculation for the value at the end of the lease. We don't have all the lease calculation variables for your example, but your calculation above is not correct. A closer calculation is (57,000-4000-(PM*36))= residual. The payment (PM) then has taxes added back onto it as well. There are other factors, but that is a starting point.

You can't use your (payment including tax) in the calculation. But if you could, using your numbers, your figures would show a residual of 33%, not 67%. Your total payments equal 67%.

Leases are often used to hide the true cost of a vehicle.

2007-x5 · #10 11-01-2008, 12:02 AM

Quote:

Originally Posted by JCL

That is not the definition of residual. Residual value is what figure is used in the calculation for the value at the end of the lease. We don't have all the lease calculation variables for your example, but your calculation above is not correct. A closer calculation is (57,000-4000-(PM*36))= residual. The payment (PM) then has taxes added back onto it as well. There are other factors, but that is a starting point.

You can't use your (payment including tax) in the calculation. But if you could, using your numbers, your figures would show a residual of 33%, not 67%. Your total payments equal 67%.

Leases are often used to hide the true cost of a vehicle.

so in my case the calculation is the result of 57,000-4000-34560x36 divided by 57,000? correct?