Leaseing my X3 3.0 Good deal or not?

[leasesearchingbeemer]

Hi!!!

I want to know if anyone out there can see if I have a good leasing deal going on, I just moved to LA from NYC so I have never had a car here is how the offer looks:

X3 3.0 automatic with panoramic sunroof

M.S.R.P 37,345

color:white

Total money down: 3,000

Payments: 420 a month (including Tax)

Miles allowed: 15,000 per year

Please advice, greatly appreciated!!!!!!!!!!!!!!

 

[Stitch]

Premium package w/o sport package?
may I ask - how your credit history is? Why I ask, 'coz if you get equal or less than 2.99% APR for 5 yr. and a little bit more down. Your payment of owning the X3 is somewhat around 150~200 more only.

 

[Stitch]

Good luck and have fun!

 

[FatherOfWolfEyes]

Check out this site, which will explain leaing in depth, provide examples and links, and allow you to run your numbers through their lease calculator.

http://www.leaseguide.com/index2.htm

Also, it's never a good idea to put money down on a lease: eliminate the down payment and have it run through the lease (same with taxes and fees: if possible, run them through the lease). This is especially true if you're getting a favorable money factor (the leasing equivalent of interest rate), but the real reason is that if you total the car, you lose the entire down payment.

Make sure you're getting the lowest money factor, as well as the highest residual value being offered by BMW. You can check the numbers on Edmunds.com. One more pointer: Just because it's a lease doesn't mean the price of the car isn't negotiable. In lease lingo it's called the capitalized cost, and while I haven't kept up with the market, last I heard $500 over invoice was the going rate.

In a nutshell, go for the lowest capitalized cost and money factors available and the highest residual value, and don't make a down payment. And buy your X at a dealer with a good reputation for service.