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      11-19-2012, 12:23 PM   #1
MrSnrub
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Lease on an X1

I'm shopping around and interested in the x28i. I am favoring either just adding deep sea blue+cold weather package or ZMP+Le Mans Blue+heated seats). Both of these set ups will likely require having one built in Germany. I spent the afternoon at a dealer yesterday. The only incentive available to me (non-loyalty eligible) is $500 holiday cash. Here are the numbers I received on a 3 year/36k mile lease:

Deep Sea Blue + Cold Weather package: $34,495, 60% residual, 0.00165 money factor (3.96% interest rate)

ZMP + Heated seats + Le Mans Blue: $37,295, 60% residual, 0.00165 money factor (3.96% interest rate)

Based on my reading online, I think the residual is a hair low and the money factor is high, as is the sticker. I'd appreciate any insight/perspective. Thanks!
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      11-20-2012, 01:29 AM   #2
JetLee
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Looks like they are marking up the money factor. Look for a dealer that is not doing this or see if they will come down. I think the base rate is .00125 for November.

As I understand it dealers are not allowed to manipulate the residual, and the residual on the 28i has been lower than the 35i.

Try to get invoice +500 or better.

Hope this helps.

Lee
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      11-20-2012, 07:06 AM   #3
dchao
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I thought 40% depreciation over three years is not that awful. Specially, the X1 is relatively unknown in the US, and is not one of the more popular models.
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      11-20-2012, 07:18 AM   #4
Grovsnus
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Quote:
Originally Posted by dchao View Post
I thought 40% depreciation over three years is not that awful. Specially, the X1 is relatively unknown in the US, and is not one of the more popular models.
No, that's pretty good. Common wisdom is that a car loses 20% of its value by leaving the dealer, and another 10% in the first six months or five thousand miles. That leaves only 10% more for two and a half years.
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      11-20-2012, 11:23 AM   #5
MrSnrub
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Quote:
Originally Posted by JetLee View Post
Looks like they are marking up the money factor. Look for a dealer that is not doing this or see if they will come down. I think the base rate is .00125 for November.

As I understand it dealers are not allowed to manipulate the residual, and the residual on the 28i has been lower than the 35i.

Try to get invoice +500 or better.

Hope this helps.

Lee
Thanks Lee et al. I am looking at a few other cars this week and next. I'm glad to hear about the 0.00125. I had seen 0.00135 elsewhere, but it'd be nice to start bargaining even lower! I've seen residuals on the x1 online ranging from 58-61, so I agree that 60 isn't terrible. Thanks again.
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      11-20-2012, 03:13 PM   #6
Vertigo//SD
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I have a sDrive28i on order (actually on a shipping vessel as I type this). The tentative deal that I have is...

Mineral grey metallic/coral red
M Sport
19" wheels
Lighting and premium packages

$1K over invoice (approx $39K)
Residual is $23,281.65 (57%)
MF .00135
3 years/15K miles per year

Last edited by Vertigo//SD; 11-20-2012 at 03:23 PM.
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      11-20-2012, 04:26 PM   #7
rory breaker
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What do the payments look like on your lease deals?
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      11-20-2012, 04:59 PM   #8
Vertigo//SD
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Mine is about $525 (approx) with $0 at signing.


Quote:
Originally Posted by rory breaker View Post
What do the payments look like on your lease deals?
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      11-30-2012, 02:06 PM   #9
MrSnrub
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Two offers, what do you think?

I think I need to decide today. Here's the scenario.
The car: x28i in Jet Black, nothing added.

Dealer #1: two hours from the house, meaning no loaner vehicle when I go to the closer dealer (35 min) for service.

with 420 down = 420/mo. including everything but taxes/title/reg is 5.5% off of MSRP. sell price of 30700 + 725 acq fee and 420 down.

Dealer #2: 35 min from house
with zero down = ~407/mo with at signing fees of $43 more than dealer #2, including everything but taxes/title/reg is 6.5% off of msrp. sell price of 30757.75 + 825 acq fee, and 0 down. I had him take 825 off the sell price to "zero out" the acquisition fee.

Is this a no-brainer? Am I missing something?

Thanks!
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      11-30-2012, 08:09 PM   #10
rory breaker
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#2 if I'm reading this correctly that's a no brainer.
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      12-01-2012, 03:50 PM   #11
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For October, residual on 36k miles was 59% with MF .00135 according to ridewithg.com
Seattle BMW and Audi dealers mark up MF by 1% (.000416) which is infuriating.
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      12-02-2012, 01:31 AM   #12
JetLee
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MF was .00125 in November

Quote:
Originally Posted by Transfer View Post
For October, residual on 36k miles was 59% with MF .00135 according to ridewithg.com
Seattle BMW and Audi dealers mark up MF by 1% (.000416) which is infuriating.
I believe the MF went to .00125 in November (according to Car_Man in the Edmunds X1 leasing forum). December lease rates should be available soon.
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