Good Time to Lease?
 

I want to lease a 2007 X5 3.0, When is the best time to lease and get the lowest price? When is the 2008 model dropping, is it worth the wait?(because of first model year bugs) or should I just get a 2007.

Wait for the 2008 MY.

As for 'best times for leases', I don't believe there is one (unlike purchases). Companies will run very good lease deals through out the year. Just keep an eye out.

Wait for an '08. The residuals will be higher, meaning lower monthly payments (unless the price goes up or the lease rate goes up).

Why would the residuals be higher, because it's not the first model year?

Residuals will be higher because at the end of the lease, in 2010, for instance, 2008 MY will still be 2 years old technically but 2007 MY will be 3 years old. So they keep adjusting residual to account for that. It's not as simple as that of course, they probably have a complex statistical formula or some such but I think it's definitely a factor.

In general, if rates remain the same, you're always better off on the lease in the beginning of model year. However, you can't really rely on that because they set their own rates. For instance, the rate on X5 right now is 210, where the rate for M6 is 310. I know that people used to get around 100 with E53 in the past. Several dealers have said lease rates are bad right now but they're better than they have been a few month ago. I don't know exact numbers.

One thing you can do, wait until 2008 MY is about to come out and get approved for 2007. The quote is good for 60 days. If you like lease rates on 2008, get those, if not, go with your existing numbers. Of course, at that point, you won't be able to order your car and will have to rely on the existing stock.

When exactly is the 2008 MY expected to be released?

WHere are you located.... My dealership has some great prices.... I got my X5 4.8 and my 6 friends have gotten various 3 series and X3's through them.. If your looking for one oow let me know...ill give u there number and see what they can do for ya.....

^ I am in NY, are you saying the 2008's are already released? or are you talkin about 07s?

I am talkin 2007's...... You can find great least deals as long as you are talkin to the right people.... Are you still in the market for an X5? What are the specs you are looking for and what have you found.... I am sure he can do better than what you have found.....let me know if you would like to persue this further...

Just curious x-tian...what dealership is this?

FMW
HerbChambers
Peabody
Stratham
Gallery
Tulley

??