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      02-11-2013, 11:01 PM   #1
Rekla
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(Lease) Delivery pit-falls ?

So I'm days away from taking delivery of my new leased 2013 X5-35d (I know not a "drei-er", but I had an E90 and enjoyed this forum alot). First time leasing and not familiar with all the paper-work and "options". Are there any pitfalls or (unncessary and) costly "options" to be looking out for? I know they will try to "sell" a tire and wheel protection, anything else? It's a 36 month lease with the intent to return the vehilcle upon lease end. One more question: Are carpet floor mats included or offered "for purchase" ?
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      02-11-2013, 11:05 PM   #2
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They will attempt to sell lease wear and tear protection too. That one seems to be a pretty good deal unless you want to commit to leasing another BMW at the end -- it forgives just about any sort of bump/scratch and missing parts that are understandably lost during 3 years of ownership. I've been told if you lease another BMW they are willing to turn a blind eye to more issues, but if not it is way more peace of mind than paying out of pocket because the scratch is outside of the 1/4 inch template they have.
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      02-12-2013, 07:39 AM   #3
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Quote:
Originally Posted by Rekla View Post
So I'm days away from taking delivery of my new leased 2013 X5-35d (I know not a "drei-er", but I had an E90 and enjoyed this forum alot). First time leasing and not familiar with all the paper-work and "options". Are there any pitfalls or (unncessary and) costly "options" to be looking out for? I know they will try to "sell" a tire and wheel protection, anything else? It's a 36 month lease with the intent to return the vehilcle upon lease end. One more question: Are carpet floor mats included or offered "for purchase" ?
Fight the security deposit. You're stuck with an acquisition fee of over $1K but that is part of leasing. Make sure there are no other costs in the cap cost except title/tag and the price of the cae. They will sell tire and wheel, paint protection, ext warranty, but none of that makes sense in your case.
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      02-12-2013, 08:55 AM   #4
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Originally Posted by jdong View Post
They will attempt to sell lease wear and tear protection too. That one seems to be a pretty good deal unless you want to commit to leasing another BMW at the end -- it forgives just about any sort of bump/scratch and missing parts that are understandably lost during 3 years of ownership. I've been told if you lease another BMW they are willing to turn a blind eye to more issues, but if not it is way more peace of mind than paying out of pocket because the scratch is outside of the 1/4 inch template they have.
Don't think so. Everyone uses independent companies to receive cars at lease end to avoid that. Car is the property of BMW not the dealer so that doesnt make any sense.
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      02-13-2013, 08:51 AM   #5
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From the BMW website (log in with your account):


Lease end:
We will send you a "90-days to go" mailer, outlining your options and providing details associated with the end of lease options and processes.

The packet will include an example inspection form with a list of example charges. You can view a copy of this form on the Lease Turn-In Information page. The guidelines on the inspection form are the same guidelines the 3rd party inspector or your authorized BMW Center will use for your final inspection. If you are interested in having your vehicle pre-inspection, please contact your local BMW Center.

We will also provided you with a BMW inspection wheel so you can use it during your excess wear and use assessment. It will help you determine which dents, dings and scratches will need repaired before your final lease end inspection. In order to assess each area accurately, you should place the BMW inspection wheel over any dings, dents and scratches on the car (front, back, top, left and right sides). Any dings, dents and scratches that are considered excessive wear and use will be chargeable, if not repaired prior to turn-in. These charges can be avoided by having repairs made prior to turn-in. To meet BMW repair standards, we recommend that you have repairs made at your BMW center.

If possible, please return your vehicle to your originating BMW Center, however you may return the BMW to any Center. Please contact the BMW Center of choice and verify space availability prior to the lease return and make an appointment if required. You will also want to contact the BMW Financial Services Lease End Department to advise us of your decision or email us with a Priority Email to confirm your plans. Note that you cannot return your vehicle to a non BMW Center. Your vehicle will not be considered turned in till you return it into an authorized BMW Center.
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      02-15-2013, 02:17 PM   #6
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I am about to take delivery of my first BMW (EBII Msport Xdrive). Any questions or concerns I should address during the actual delivery? Any pit-falls I should try to avoid aside what has been mentioned above?
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      02-15-2013, 07:18 PM   #7
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The way BMW does it today (and that could change when you return your lease) typically BMW dealers do the lease end pre-inspections. ONLY if the customer challenges the findings of the dealer inspection does BMW bring in outside inspectors for a second look. I'm told the dealer inspections look at a specific list of items. When the outside inspectors are called it, they look at everything, typically costing the customer more $. Not always, but often.

I highly recommend if you can part with the CASH now, ask your dealer about putting down multiple security deposits. BMW will accept up to 7 security deposits and reduce your money factor by 0.00007 for each additional security deposit you put down. Its a huge win if you let BMW hold the CASH.

Two reasons why BMW offers this. 1) If cars are returned in bad condition, they have your $$. 2) In repossession/bankruptcy cases, they have enough of your $$ to make them whole (or close to whole).

Excess wear and tear depends on how you take care of your car. If you typically drive over parking curbs, curb rash your rims and get door dings and random scratches then definitely spring for the excess wear and tear coverage. If not, save your $ and enjoy your car while you take good care of it.

Between my wife and I we've had 5 BMW leases and never been charged a dime. all without excess wear and tear coverage. We do take good care of our cars.
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      02-16-2013, 12:20 PM   #8
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That's great feedback Claykin.
Upon lease end I would consider these 4 options:
- return the car and walk away with the refundable MSDS.
- "roll over" into another (leased) BMW
- Buy the car for the residual minus the MSDS (plus sales tax).
- Sell the car private if the "private party" price is higher than the lease residual (and make some $)

So far - I've never had any significant rim damage, tire wear/punctures, dents and dings, and/or scratches outside "normal wear and tear" on any of my cars - so I strongly feel no need for any additional pre-paid BMW coverage. If a significant amount is due upon lease return due to excessive wear and tear, I would consider getting quotes for (professional) repairs, buy the car upon lease end, fix it up, then keep or sell the vehicle - depending on the market conditions. Keeping the car upon lease end, I might even look into extended warranty up to 6 years/100k, then enjoy the ride till that time & mileage are near. I'm not too afraid for the return conditions upon lease end - I feel confident the dealership prefers a "roll-over" and are more than willing to accommodate such transaction - especially if the market value of the car is above the lease residual enabling them to make a (significant) profit on a (CPO) re-sale. Besides, in my case, the lease expires around year end when traditionally a lot of incentives are offered towards a new BMW.
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      02-16-2013, 08:33 PM   #9
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Thank you, claykin and Rekla. I am actually buying my BMW. I am new to the forum and I didn't want (could't open) a new thread. Any suggestions for someone that is actually buying a car? Hopefully, I will be taking delivery next week.
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      02-17-2013, 12:14 PM   #10
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To get Invoice pricing deduct 8% from the listed sticker MSRP. If there are any rebates, deduct those from the invoice price. Then add a few $ for dealer profit ($500-1000). If you get to those numbers, you did great.
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      02-17-2013, 07:56 PM   #11
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Quote:
Originally Posted by Rekla View Post
To get Invoice pricing deduct 8% from the listed sticker MSRP. If there are any rebates, deduct those from the invoice price. Then add a few $ for dealer profit ($500-1000). If you get to those numbers, you did great.
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