11-30-2023, 06:46 PM | #1 |
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Help with i5 Leasing
I'm new to leasing and wanted to see what all of you experts think about the attached lease the dealer is offering me on the i5. This took some negotiation but I'm not sure if it's still a good deal or not. This is from a dealership in Dallas, TX.
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11-30-2023, 07:17 PM | #2 |
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I don't know about the 40, but I got 7,500 plus I think a 7% discount off my i5 lease. My car's MSRP was around 96k and my lease is right around with zero down (except taxes) $1,300.
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SkykingUSA1398.50 |
11-30-2023, 07:35 PM | #3 |
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You need to ask them what the money factor is and what is the $1675 in fees. The residual cannot be changed, so that shouldn’t be in question, but you should ask anyways. The other thing you can ask if you want is if they have tax credits available, but that would require you to pay for the entire lease up front. That would save you about $3500 or so in sales tax.
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11-30-2023, 07:53 PM | #4 |
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The money factor that they are using is 0.00025 which sounded high to me since it translates into 6%. Also the other fees are for lease acquisition fee and taxes.
I still feel like it's not as good of a lease as some other people are getting on these cars. |
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11-30-2023, 08:17 PM | #5 |
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75895-7500 = 68395
add in the crazy fees (IMO) of 1675 + 68395 = 70070 not sure how they got to 70753.95 You can also do MSD (Multiple Security Deposit) to lower the rate. I forget how much but well lower. The MSD is held by BMW financial so the dealer can't take it away from you. |
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11-30-2023, 09:20 PM | #7 | |
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You also need to know what "fees" are. The BMW Acquisition Fee is $925, but there is a difference of $2358 between their final cost of $70,754 and what the cap cost actually is $68,395. What is the other $1400? Maybe the 1% sales tax? Last edited by aptekcom; 11-30-2023 at 09:28 PM.. |
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11-30-2023, 09:33 PM | #8 |
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Not sure where they are getting these numbers from, but I'd RUN away from this deal. They say that they are giving you 3K off, but are you really?
36 months * 1085 = 39060 + 41814 residual = 80,874 adjusted capitalized cost. That's more than MSRP, which with $7,500 and $3,000 means I'm confused as to how they are getting these numbers. I know TX is challenging to lease because of how they charge tax. |
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arkhi172.00 SkykingUSA1398.50 |
11-30-2023, 10:52 PM | #9 | |
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I agree I'm confused by the calculation as well. They keep telling me about the special 1% sales tax on the purchase instead of normal 6.25% but I don't know how that's working out here. Some people have posted their lease deals for higher MRSP with lower monthly payment than what these guys quoted me. I think I'll keep searching for a more fair deal. Appreciate the feedback. |
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12-01-2023, 06:46 AM | #10 |
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12-01-2023, 07:10 AM | #11 | |
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12-01-2023, 09:00 PM | #13 |
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Thank you for feedbacks. I ended up hiring a broker to score a better deal at another dealership. I signed it today. Hope I didn't get screwed as bad lol
MRSP: $83k Ceramic Tint and protection plan (couldn't get them to take this off): $990 Acquisition Fee, license fee, document fee, Title fee: $1,675 Discounts: 8% off MRSP plus $7,500 Monthly payment: $990 with $925 cash down for lease acquisition fees. Last edited by ssibrahim; 12-01-2023 at 09:10 PM.. |
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SkykingUSA1398.50 |
12-01-2023, 10:23 PM | #14 |
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This is my second time using a broker, and it really does make it much easier, and you know the deal up front with full disclosure.
The numbers had improved slightly since I ordered. Picking it up on Saturday. |
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SkykingUSA1398.50 |
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