03-11-2014, 11:36 AM | #1 |
First Lieutenant
37
Rep 349
Posts |
m235i Lease Deal Check-up
Can someone please confirm my numbers?
At the risk of sounding like an idiot that can't add, my sales tax here in Louisiana is 4% state and 5.5% local, so the correct monthly is 9.5%, right? I've never done a lease, so I just wanted to confirm that both count. Also, before people hound me about putting money down, I need my payment to be in the high 570's range. I've run the options from 1-7 security deposits and outside of putting $8,000 cash down on the day of lease, I can't get it in the range I need it to be at. I feel wary about putting money down, but I gotta do what I gotta do. Thanks for your help, guys. 50,065 MSRP 49,315 sale price 3,600 down payment 600 security deposit 750 acquisition fee 490 registration, etc. 9.50% sales tax 12,000 miles/year 36 lease term 62% residual 0.00130 money factor 3.12% interest rate (calculated from money factor) Cap Cost 49,315.00 sale price (including gas guzzler & destination) 3,600.00 cap reduction (down payment) 750.00 acquisition fee 46,465.00 cap cost Residual 50,065.00 MSRP 62% residual % 31,040.30 residual Monthly Depreciation 46,465.00 cap cost 31,040.30 residual 15,424.70 36 lease term 428.46 monthly depreciation Monthly Interest 46,465.00 cap cost 31,040.30 residual 77,505.30 0.0013 money factor 100.76 monthly interest Total Monthly Payment 428.46 monthly depreciation 100.76 monthly interest 529.22 base payment 50.28 sales tax 579.50 total monthly payment Drive Off Amount 3,600.00 down payment 342.00 cap reduction sales tax 600.00 security deposit 489.75 registration, etc. 579.50 first month payment 5,611.25 total drive off Total Lease Cost 5,611.25 total drive off 20,282.39 monthly payments 25,893.63 total payments 600.00 security deposit refund 25,293.63 total lease cost |
03-11-2014, 01:43 PM | #2 |
Lieutenant
77
Rep 408
Posts |
|
Appreciate
0
|
03-11-2014, 01:55 PM | #3 |
Lieutenant
77
Rep 408
Posts |
Using the above link, I got $579.51/month with tax. Why are you putting a $600 security deposit and not lowering your money factor? The base money factor is .0013. Each security deposit lowers your money factor .00007. That would lower your payment $6/month.
If you change your deal to 0 money down and 7 security deposits, pay your acquisition fee up front, your deal changes to: $627.14/month $4550.00 security deposit $489.75 reg $750 acq cost $6416.89 drive off The biggest difference is at the end of the lease, as long as you don't destroy(not total)the car, you'll get back $4550 in cash. At the current deal, if your car is stolen or totaled, you immediately lose that $3600. There are only a few times where putting money down on a lease is worthwhile, ie $300 to lower MSD amount. Putting $3600 down is a very bad idea. Go with the deposits, pay slightly more, get the money back at the end of the lease. |
Appreciate
0
|
03-11-2014, 01:59 PM | #4 | |
First Lieutenant
37
Rep 349
Posts |
Quote:
|
|
Appreciate
0
|
03-11-2014, 10:33 PM | #5 |
Private
8
Rep 53
Posts |
Why is it that when I posted my deal on the other thread last month (sale price of $49,125, 10k/36 mo lease, 3k drive off, monthly payments of $620 tax included) a bunch of you guys said I was getting ripped, yet when you see this guy's deal there's no one saying it's too high?
I'd be paying just under $25k for the entire lease...which is where he's at too plus a couple hundred. Did you guys change your mind and decide that 25k is fair now? |
Appreciate
0
|
03-11-2014, 11:33 PM | #6 | |
Captain
170
Rep 926
Posts |
Quote:
|
|
Appreciate
0
|
03-12-2014, 08:31 AM | #7 |
Private First Class
16
Rep 114
Posts |
2forMe,
I dont think he is getting a great deal if that makes you feel any better. He is putting too much down in the form of cap cost reduction, he should have tried to negotiate a better sale price. My 2 on order is same exact MSRP and my total drive off is $900 and my payment is $55 a month higher than his. Take that over 36 months I am paying $1,980 more but my total expense is about $2,740 less over the life of the lease due to his high drive off total. OP wants his payment to be in the $570 a month range though so to do that it looks like more money down is his option if dealer wont negotiate more. |
Appreciate
0
|
03-12-2014, 09:34 AM | #8 | |
Lieutenant
77
Rep 408
Posts |
Quote:
|
|
Appreciate
0
|
03-12-2014, 11:13 AM | #9 | |
First Lieutenant
37
Rep 349
Posts |
Quote:
|
|
Appreciate
0
|
03-12-2014, 12:51 PM | #10 |
Private
8
Rep 53
Posts |
His tax rate is 2.5% higher than mine. Take away the difference and he's almost right at my level
Last edited by 2ForMe; 03-12-2014 at 12:56 PM.. |
Appreciate
0
|
03-12-2014, 01:36 PM | #11 |
Lieutenant
77
Rep 408
Posts |
Yeah, his deal isn't good, but it could be worse. My original deal was at MSRP. The OP should check the poster from the panhandle of Florida. He got a pretty good deal and it's not too far from Louisiana.
|
Appreciate
0
|
03-12-2014, 06:33 PM | #12 |
Lucky13
212
Rep 1,762
Posts |
The first thing you learn when you post on here is to have thick skin. You will get blasted no matter what side or position you take.
__________________
1995 325i, 1996 328ci, 1997 528i, 1997 Z3 2.8, 2000 528i, 2001 X5 3.0, 2001 330i Convertible, 2002 M3 Convertible, 2003 M3 Coupe, 2004 M3 Coupe, 2004 Z4 3.0, 2004 X3 3.0, 2007 X3 3.0, 2007 335i Convertible, 2013 X1 28 sdrive, 2014 M235 manual, 2020 X3 30i Xdrive
|
Appreciate
0
|
03-13-2014, 10:15 AM | #13 |
Private First Class
16
Rep 114
Posts |
|
Appreciate
0
|
Post Reply |
Bookmarks |
|
|