04-15-2011, 07:57 PM | #1 |
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2012 X5 Residual Rates
Quick question, trading in my 2009 X5 for a 2012 X5 which i ordered a few months ago. Since placing my order, the balance owed on my current car has dropped by ~$3k, on the other hand, the trade has accumulated another 4k miles. Is it be reasonable to expect the lease payments that i was quoted back then to remain the same?
I expected the pmt amounts to go down based on the following logic, while the trade-in vehicle might have lost ~$1k in value (4k miles * $0.25 per mile), the outstanding loan amount is lower by $3k which shd imply a favorable net impact of $2k. The dealer explain that the difference is due to reduced residual rates on the 2012s. Does anyone know if that is the case? Although i like the SA that i have been dealing with, I am concerned that i am being taken for a ride. If the residuals have worsened to this degree then probably makes sense to simply purchase (vs. lease) the car. Thanks for your input. |
04-15-2011, 11:22 PM | #2 |
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Residuals are set by the manufacturer and change quite frequently, so it's not unreasonable for that to change over the period of a few months. What I'd be wary of is the money factor, some dealers will pad that to increase margin.
It's quite possible that the residuals on the 2012s are less d/t it being closer to full re-design, whereas the 2011s were first year of LCI refresh and further removed from the future full re-design. This logic makes perfect sense, but residuals on the whole X5 line (minus X5M) are still relatively strong, so that throws out the case of buying instead of leasing unless of course you plan on packing the miles. Maybe someone can chime in with the actual current residuals, I can't imagine that they're that much worse than the 2011s were. ...but always be concerned that you're being taken for a ride. For goodness sakes it is the dealership after all. |
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04-16-2011, 08:33 AM | #3 |
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niceride, thanks for the reply. i qualified for the low bmw loyal customer lease rates which is also set by the manufacturer (at least i think it is) so i will keep an eye out on that variable when i go take care of the paperwork
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04-17-2011, 11:33 AM | #5 |
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04-17-2011, 05:18 PM | #6 |
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If you want the current residuals for all models google a website "Ride with G" and go to lease rates.
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04-18-2011, 06:21 PM | #7 |
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Thx, been swamped with work so haven't had the chance to "really" drive it. Will post comprehensive review / pics upon return from biz trips in a couple of weeks.
Ended up getting 5.0i, black sapphire with cinnamon interior, pretty much all options (including 3rd row seat and 20") except M-sport and comfort seats. First impressions, car is very fast and 8 spd is unbelievably smooth. Happy i changed order to 2011 b'cos the AEs look great and top view camera should help wife with curb rash. |
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04-19-2011, 01:13 PM | #8 |
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In Canada, the residual right now is 42% (assuming the standard 24,000 km lease). Add 2 points for 20,000 km. And that is for the 3.0. Its even lower for the 5.0 engines. I would pick up a 5.0 in heartbeat if the residuals were anything north of 50%, but they are nowhere close. |
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04-19-2011, 10:32 PM | #10 |
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