Automotive

Is this a good BMW X3 lease deal? Help please!

  • Last Updated:
  • Apr 25th, 2017 7:58 pm
Deal Addict
Jan 17, 2010
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Is this a good BMW X3 lease deal? Help please!

First of all, I have to say I am a newb when it comes to car leasing terms but I've tried to do as much research as I can to help negotiate a new lease deal. Looking for help to see if this is a good lease deal.

Currently have a BMW 328xi with the lease coming to an end in October this year. However, there is a loyalty program this weekend and I went in to the dealership to see what the promotion was about.

They said they would cover the last 6 months of my current lease. So this seems great.

Will try to provide all the information that you guys need to determine if it's a good deal, please let me know if I need to include more info.

Car: X3 xDrive 28i
MSRP: $53,350 (really questioning this as I'm not sure how it came to this value when on the website the MSRP is $46,700)
Options: $3163 (got some package with additional features here)
There is a delivery credit and promo of $2000 included in the above.

And then I was able to negotiate an additional $3000 discount.
When I was looking at the calculations on the system, it was a 6% discount from the MSRP.

The interest rate / APR is 1.15%
36 months / 12K km
Residual 54%
$0 down.

Felt like I just wrote down a bunch of gibberish lol... Tried my best to explain and write down what I understood from our negotiations... Excuse me if I don't make 100% sense.

Does this look good?

Any help would be appreciated!
42 replies
Jr. Member
Dec 1, 2014
193 posts
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Toronto, ON
honggil wrote: First of all, I have to say I am a newb when it comes to car leasing terms but I've tried to do as much research as I can to help negotiate a new lease deal. Looking for help to see if this is a good lease deal.

Currently have a BMW 328xi with the lease coming to an end in October this year. However, there is a loyalty program this weekend and I went in to the dealership to see what the promotion was about.

They said they would cover the last 6 months of my current lease. So this seems great.

Will try to provide all the information that you guys need to determine if it's a good deal, please let me know if I need to include more info.

Car: X3 xDrive 28i
MSRP: $53,350 (really questioning this as I'm not sure how it came to this value when on the website the MSRP is $46,700)
Options: $3163 (got some package with additional features here)
There is a delivery credit and promo of $2000 included in the above.

And then I was able to negotiate an additional $3000 discount.
When I was looking at the calculations on the system, it was a 6% discount from the MSRP.

The interest rate / APR is 1.15%
36 months / 12K km
Residual 54%
$0 down.

Felt like I just wrote down a bunch of gibberish lol... Tried my best to explain and write down what I understood from our negotiations... Excuse me if I don't make 100% sense.

Does this look good?

Any help would be appreciated!
Try using unhaggle to get a report to check invoice price first. from there you can see how much real "discount" are they giving you? Just my 2 cents.
Deal Fanatic
Jan 15, 2017
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Don't quite understand how someone with a current car lease can be a newb on auto leases? What is your current payment on your BMW? This may help explain the difference in the price of the new auto. It would also help if we knew exactly what packages your were thinking of getting. And, it would be great to know what your payment on your new BMW is. Have you compared it to the online price?
Deal Addict
Mar 17, 2016
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OP where is the lease monthly amount?

You left out the most important part

12K km/year is very low imo.
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Predator76 wrote: Try using unhaggle to get a report to check invoice price first. from there you can see how much real "discount" are they giving you? Just my 2 cents.
Thanks, I'll check it out!! Report is on the way.
Deal Addict
Jan 17, 2010
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skeet50 wrote: Don't quite understand how someone with a current car lease can be a newb on auto leases? What is your current payment on your BMW? This may help explain the difference in the price of the new auto. It would also help if we knew exactly what packages your were thinking of getting. And, it would be great to know what your payment on your new BMW is. Have you compared it to the online price?
Yeah, I didn't really negotiate the first time I got a lease hence why I am here asking for help... As I mentioned, I've been trying to research as much as I can.

The option I'm interested in is the premium package essential.

It comes to about $800 taxes in monthly with 0 downpayment 36 months / 12K
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Feb 11, 2007
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From your numbers, it sounds like your monthly payment could be $682/month ($53350*.46/36 mo) (1-.54 residual=.46) Or maybe $643/mo if you take $3k off msrp.
For reference, my wife business just leased a 2017 Audi Q5 Komfort (base) for $460/mo, $0 down, 48 months, 60k KM. ($517 with taxes/fees).
If the women don't find you handsome, they should at least find you handy.
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Hindenburg1 wrote: OP where is the lease monthly amount?

You left out the most important part

12K km/year is very low imo.
Oops. After all calculations, it's around $810 all in.
We only drove 37K km in 3.5 years... so it's good for us :P
Deal Addict
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engineered wrote: From your numbers, it sounds like your monthly payment could be $682/month ($53350*.46/36 mo) (1-.54 residual=.46) Or maybe $643/mo if you take $3k off msrp.
For reference, my wife business just leased a 2017 Audi Q5 Komfort (base) for $460/mo, $0 down, 48 months, 60k KM. ($517 with taxes/fees).
Sorry I didn't include the monthly payment. It came to $800 taxes included...

Is the 2017 Audi Q5 Komfort also known as 2017 Audi Q5 2.0 TFSI? We are looking at a Q5 too since it's the competitor to X3. But our lease is up in October so we would have to wait till then which is a viable option.
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Feb 11, 2007
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honggil wrote: Sorry I didn't include the monthly payment. It came to $800 taxes included...

Is the 2017 Audi Q5 Komfort also known as 2017 Audi Q5 2.0 TFSI? We are looking at a Q5 too since it's the competitor to X3. But our lease is up in October so we would have to wait till then which is a viable option.
Yes, that's the same Audi. The Q5 is a little smaller than the X3, but not as small as the X1.
$800/mo seems like a lot to me, but I bought my BMW used and so far it has cost me well under $200 month even with maintenance.
If the women don't find you handsome, they should at least find you handy.
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Jan 19, 2007
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honggil wrote: ...
Car: X3 xDrive 28i
MSRP: $53,350 (really questioning this as I'm not sure how it came to this value when on the website the MSRP is $46,700)
Options: $3163 (got some package with additional features here)
There is a delivery credit and promo of $2000 included in the above.

And then I was able to negotiate an additional $3000 discount.
When I was looking at the calculations on the system, it was a 6% discount from the MSRP.

The interest rate / APR is 1.15%
36 months / 12K km | Residual 54% | $0 down
Well did you get a quote from their system? it's a pretty standard document

In my view: Your MSRP is over-inflated - for the 4-cyl engine this is should be lower indeed like here says
What's the admin fee they wish to charge you and which packages you get?
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Jul 30, 2007
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do note this weekend's special promo on X3 is another $750 factory credit, thus bringing it up to $2750 factory credit. Then you negotiate 6% off the MSRP (configured with options) on the car. Looks to me, the dealer has added in a whole bunch of fees and perhaps excess wear & tear protection plan ($1400) and questionable bogus fees on to it.

Without an actual quote sheet, it would be difficult to say you have given a very good deal. If you can, post up the dealer quote sheet here so we can comment on.
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booblehead wrote: do note this weekend's special promo on X3 is another $750 factory credit, thus bringing it up to $2750 factory credit. Then you negotiate 6% off the MSRP (configured with options) on the car. Looks to me, the dealer has added in a whole bunch of fees and perhaps excess wear & tear protection plan ($1400) and questionable bogus fees on to it.

Without an actual quote sheet, it would be difficult to say you have given a very good deal. If you can, post up the dealer quote sheet here so we can comment on.
Thanks for the help.

I'm glad I asked the dealer to print a copy of the lease offer. I've attached it on here. Note that he mentioned he could give another $3000 discount but didn't want to put it on the printed lease offer... But there is an additional $3000 discount that is not shown on here.

As you mentioned, looks like there is that bogus excess wear and tear fee for $1400..lol

Edit Looks like the upload via RFD attachments cuts off the top of the document. Please use this imgur link: http://imgur.com/a/SIfmX
Last edited by honggil on Apr 22nd, 2017 8:27 am, edited 3 times in total.
Deal Addict
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ohnabatko wrote: Well did you get a quote from their system? it's a pretty standard document

In my view: Your MSRP is over-inflated - for the 4-cyl engine this is should be lower indeed like here says
What's the admin fee they wish to charge you and which packages you get?
I've attached a lease quote sheet below to bobblehead's reply. I probably should have done this in the first place.
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just as I suspected, they did add all those fees and excess wear & tear onto car ... not sure if you want them or not .. to begin with.

based on this quote sheet. There is 0 discount on dealer side and 0 factory credit. Just an ordinary straight quote

If you are saying dealer is going to give you $6000 off and you are okay with all these bogus fees and excess wear & tear ... then you should be looking at:

> $724.25 per month (13% taxes included)

Due on delivery - 1st month lease + PPSA + license

Comment: Given you don't drive this X3 that much (low mileage lease), you may not need the excess wear & tear protection, thus saving you a bit of $ overall. Is this a good deal, well, if that $6000 off is what you are suggesting the dealer is giving you, then it's not bad at all, since the dealer is not making you eat the current remaining lease on your 328.
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Jan 15, 2017
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The quote sheet you have provided has an all in pmt of $915.44. That is, imo, an outrageous lease pmt for a vehicle at this price point with only 12,000 km allowed a year. I just built the same vehicle on its website and unless I made a mistake, using the full MSRP results in a pmt of $831 and this includes taxes. And that is without any factory credits or discounts applied. With a factory credit and negotiated discounts, this lease should be around or under $700 a month.
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booblehead wrote: just as I suspected, they did add all those fees and excess wear & tear onto car ... not sure if you want them or not .. to begin with.

based on this quote sheet. There is 0 discount on dealer side and 0 factory credit. Just an ordinary straight quote

If you are saying dealer is going to give you $6000 off and you are okay with all these bogus fees and excess wear & tear ... then you should be looking at:

> $724.25 per month (13% taxes included)

Due on delivery - 1st month lease + PPSA + license

Comment: Given you don't drive this X3 that much (low mileage lease), you may not need the excess wear & tear protection, thus saving you a bit of $ overall. Is this a good deal, well, if that $6000 off is what you are suggesting the dealer is giving you, then it's not bad at all, since the dealer is not making you eat the current remaining lease on your 328.
I believe I'll need the excess wear n tear option as it'll give me a peace of mind (assuming I am correct in saying it covers minor damages).
And yes, the dealer said he will eat the current remainig 6 months lease on the 328 we have currently.

Based on your calculation of $724 taxes included, it's drastically different from what the dealer gave us which is $800 taxes included per month. Am I missing something here??

The dealer said we would get $5000 discount (not $6000) which is broken down by 1) $2000 for the event credit and 2) He could give a further $3000 discount. Not sure if I can get the additional $750 factory credit that you mentioned above to make the total discount $5750.

Newb question, you mentioned that the quote sheet looks like an ordinary straight quote, but on the top right hand corner there is something called delivery credit and promo ($2000); isn't this the $2000 event credit that is already factored in this quote sheet?
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skeet50 wrote: The quote sheet you have provided has an all in pmt of $915.44. That is, imo, an outrageous lease pmt for a vehicle at this price point with only 12,000 km allowed a year. I just built the same vehicle on its website and unless I made a mistake, using the full MSRP results in a pmt of $831 and this includes taxes. And that is without any factory credits or discounts applied. With a factory credit and negotiated discounts, this lease should be around or under $700 a month.
Thanks... So where is the difference coming from?? Is it because of the options I have - the premium essential package which costs $4900?

I would love to pay for around $700 month and would jump instantly on that price.
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Jul 30, 2007
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Let me rework some 'ideal' number for you and get back to you around 1pm Toronto time today
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booblehead wrote: Let me rework some 'ideal' number for you and get back to you around 1pm Toronto time today
Greatly appreciated, many thanks!!

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