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How much does it cost to lease a BMW X3?
I’m in the market for a new car, and I’ve always wanted a BMW. How much would it cost to lease a BMW X3?
Chloe Jenkins · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Good question! The cost of leasing any car, including a BMW X3, will vary greatly depending on what state you live in, your credit score, and plenty of other factors. On average, it will likely cost you around $460 per month to lease a BMW X3, but when you decide to lease a vehicle there are a few more costs you’ll need to consider outside of the monthly payments:
- Thedown payment. This is the money you offer to pay upfront for the vehicle that you’re leasing. The purpose is to reduce the cost of your monthly payments and get the dealership some cash upfront—a win-win.
- Acquisition fee. This is known as a bank fee or administrative fee, which is meant to cover the dealer’s paperwork and related costs, and will usually run you a few hundred dollars.
- Interest rate. Based on your credit score, dealers will determine your interest rate. The better your credit score, the lower your interest rate.
- Return fee. This fee comes at the end of your lease when you bring the car back to the dealership. It pays to clean and repair the vehicle and prepare it to be sold. This is usually a couple of hundred dollars.
- Extra mileage charges. If you return the car at the end of your lease with more miles than the annual mileage maximum on your agreement, you will have to pay extra mileage charges.
- Wear and tear expenses. Any damage to your car or improper maintenance done can cause the dealership to charge you for excess wear and tear. Depending on the state you live in, you could be responsible for paying for the full repairs.
- Insurance costs. Leased cars often have insurance requirements to ensure that the vehicle they loan you is properly covered. When you lease a vehicle, shop for new policies that fit your lender’s requirements with theJerryapp. Simply enter your car’s information,the coverage you need, and a little bit about yourself and get access to hundreds of quotes from more than 50 of the nation’s top providers. You can then compare these quotes and pick the policy that works best for you and Jerry will help with the rest!
While it’s not possible for me to give an exact number on how much it will cost you to lease a BMW X3, I hope this information has given you an idea of what you can expect. Good luck!
View full answer
- Gregory R.
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