I am 1 month in with a 2020 X3MC, so here are my thoughts:
Ride is stiff, for sure, but I swapped the summer tires (Conti Contact 6) after 500 miles to a wider staggered set (265/40/21 F & 295/35/21 R) in UHP All Seasons (Pirelli Scorpions AS Plus) and the ride became more compliant albeit still on a harsher side. Well, it’s a “track-ready crossover”, right? Going for a wider track dulled the steering feel and grip a little bit but could be just the fact that these are AS compounds. On summers, this one feels just like Mini JCW, M3/4 or 911, low profile rubber + large rims = no way to argue with physics and potholes.
I am still in break-in period, but I am aware that the default low end torque will remain underwhelming even after 1st service. Actually, this I6 slightly reminds me of the V8 in e92. It’s pretty common with BMW’s I6s, they must be revved to get to the M zone. Just the way they tune them generally. Got to use those M modes and paddle shifters to get going at low speeds.
Sound, oh well, BMW rarely have decent stock exhaust notes (just coming from the 2020 M550, same thing despite V8 and 523 bhp), definitely got to go with aftermarket set. This one is not an exception. My neighbour has an M2, and it sounds fantastic with aftermarket exhaust.
My take on “why early transfers?”:
The car is given to a wife/girlfriend/mom etc who are not very interested in performance. The guy got it just because the deal was a steal and wanted it for a household but not for himself as a daily. i.e. no need for a performance pony. Possibly already has a “fun car”. I know a couple of guys who have done this. And swapped them few months in. Significant other complains about the stiff ride and a “drone” of exhaust and possibly relatively small boot space. No need for high hp. So the car hits the market.
A guy (petrolhead or not) gets the car. Expects an M3 in SUV form. Gets disappointed with low end torque, exhaust note, stiff ride and possibly extra cost of winters and AS tire set. We tend to accept the harsh ride in low riding 2 seaters but the brain refuses to compute this in SUV. Result, the car hits the market.
On competition, coming from Macan S, Cayenne S, a few AMG 63s, test drove extensively the AR Stelvio QF, and I think that BMW offers the best $ deal overall; AMGs, must buy or pay >50% of the car over 3 years of lease; same with AR Stelvio, lease numbers are silly with Alfa; Porsches, same as Alfa, must buy, lease MF is a robbery. Lease transfers are closed for Alfas afaik, MB temporarily suspended lease transfers, with all VW Group brands, possible but you remain liable as a co-lessee , so no good for transfers unless it’s your blood relative.
From performance and fun perspective, AMGs are #1 (their V8s and exhaust notes are simply unmatched in this sector), subtlety prize IMO goes to Porsche SUVs (but nothing to write home about), Alfa is fun but wouldn’t take chances with it, X3M is a great package overall and unbeatable deal $ wise. Having said that, I will probably transfer it in a few months too, but just because I tend to get bored with any car within a year or so.
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Here’s how I understand Leasing (Of course many people will probably say I’m wrong)
Leasing is basically Renting a Car and giving it back at the end of the term.
The manufacturer gets the full agreed upon price as if you bought the car (paid in full by the bank)
The Bank (Which can be related to the manufacturer) gets the Rent Fee from you (Comes from the MF)
The bank charges a ‘depreciation’ fee based on how much value the car will lose in the lease period (they get this from your payment as well) (This leaves the Residual Value of the car)
At the end of the lease the Bank will then sell the rented car via various ways (such as Auction) and hopes that it will sell for at least the Residual Value.
You will also pay for an Acquisition and Disposition Fee which is basically the costs to start the rental and to end the rental.
You never own the car during the period.
You are borrowing the car from the Bank.
0% Financing?
The Manufacturer gives the Bank (Because 0% is always from the Captive Lender), some money for helping finance the car.
The Finance Arm of a Manufacturer is usually a separate entity that has it’s own books and bills that are different than the Manufacturer.
Thanks, yes that is exactly what I was trying to clarify; whether it is a rental or more of a short term finance.
So the Bank is the one buying the car? Is the price they buy it the selling price you negotiate at the dealer? Or they have some prenegotiated price that they get the car from the manufacturer, and anything above that is fully/partially for the dealer?
So technically you aren’t taking a loan, and neither is anyone ?
It’s a rental. you do not own the car in any way.
The price you agree upon the ‘Capitalization Cost’ is what the bank pays the Manufacturer.
So whatever you negotiate is what the bank pays.
You aren’t taking a loan, you are basically going to Enterprise Rent A Car, pointing at a new car and saying ‘I wanna rent that for 3 years’.
They still will run your credit and list it on your Report as a major expenditure (or whatever it’s classed at) So it ‘looks’ like a fixed loan on your report, if that matters to you.
Cap Cost is the price YOU negotiate with the Dealer, of course they are going to make a profit, it’s not a fixed number after all.
Why call it a Money Factor? So it’s harder for you to know the true interest rate. (Or at least that’s what it was told to me).
And they get some of the MF markup if it is marked up, that’s why you have to know the MF before you start dealing. How much? I have no idea, but there is a kick back in there if they mark it up.
Oh and rent charge and MF are 2 different things. MF is added to the Rent Charge to make the total Payment. It’s a nice little formula.
