Could someone help evaluate this lease offer for a 2024 BMW X3 xDrive30i? I am located in Queens, New York and haven’t received the exact breakdown but this is what they told me:
36 months/10k miles per year
MSRP: $58,220
Incentive: $2,000
Residual Value: 56%
Money Factor: 0.0021
Upfront Fees: $4,689 (includes $925 acquisition fee, dealer fee, $275 DMV fee, NY taxes, and first month’s payment)
Monthly Payment: $794
The car is equipped with M Sport, Premium Package, Shadowline, Parking Assistance, and Harman Kardon speakers. Does this seem reasonable?
I think it is doable if you put the work in. I’m going tomorrow to sign on a 56k x3, 2900 DAS + 7msd, 530 a month with tax. Some dealers are obviously more willing. To clarify, not the most incredible lease hack, but a very solid deal can be had
I think the LH broker deals are a smidge better than the economics you quoted. Maybe one of them has line of sight to a unit that has remote start too.
BTW, the buy rate money factor of 0.0021 implies an APR of 5.04%. This is about 100 basis points better than what a Tier 1 credit should expect if they took on a loan (and didn’t have special qualifying status as a service member).
This is mostly offset by the acquisition fee and other unique-to-leasing costs so it’s basically a wash from a value perspective going with a loan today or a lease today.
The main difference between leasing a X3 today and getting a new loan on an X3 today is that a loan will have higher monthly payments than a lease since you’re making principal pay-down on a loan payment. If you opt for a lease, calculate the monthly difference you would otherwise be paying into a loan, and save/invest the difference.
Where you’ll see benefit is what you decide to do in 2027. The best about leases is you can always buy out your lease at maturity if you really like the car and it’s proven somewhat reliable. BMW leases also come built in with GAP insurance. If you take that monthly cash/savings over the next 36 months, you can add that plus a used car loan from a credit union in 2027.
So starting 2027, you could maintain rather low monthly payments on what is now a used car loan. And this is overall a way to save money versus entering a new BMW lease since driving your used car for a few more years is cheaper than leasing a new BMW.
If you don’t like your X3 in 2027, then you have the guaranteed exit of the lease structure and can roll into a new Bimmer with loyalty incentives. Plus you’ll have all that cash you saved from now until then.
Sorry it looks like the LH calculator has September’s buy rate MF on a X3 xDrive30 AWD @ 0.0018.
Which is lower than what @Meesha1 showed, but is higher than what @armflo linked above. Lower buy rate MF seems to favor leasing at first; but it’s still up to you to decide to save money and buy out the BMW in 2027.
Hopefully the LH brokers can confirm what the buy rate is this month.
Yeah, especially a Brooklyn grey color with premium interior. Too many people want that color.
Although for a “cost optimization” mindset, it’s possible to save money and go with a less premium-priced-paint. Ironically, it’s one of the cheapest colors to manufacture since it lacks pearlescent flecks and has no metallic luster. So it’s basically a flat paint with clear coat that is getting marked up by the manufacturer.
I think it boils down to how much you are committed to the color and option load. If it’s about saving money then the LH brokers may be better.
If it’s about getting this particular build, I think you can press to get the buy rate money factor that @BimmerCarDeals described and maybe try to get a bit more discount. But Brooklyn Grey is going to be a rare, desirable color and likely less discount.
Shoot for 10% off MSRP
Base MF .0018
Max out MSD’s (7) and lower to about .0013
Lease cash is ($1000)
Loyalty ($1500)?
Residual 56% (36/10k)
I was able to accomplish that in July on 2024 X3 sdrive with sport package ($56250). I chose to wait on the 2025 model which now that I have seen it, I might change course. Good luck.
