08-27-2011, 06:44 PM | #1 |
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How would you rate this lease?
Just want to see if I'm getting a good deal, or if I can do better.
2011 X3 xdrive28i Alpine White Black leatherette 248 - heated steering wheel 402 - panoramic moonroof 494 - heated front seats 522 - xenon headlights 6NL - BMW assist with enhanced bluetooth and USB MSRP is $41,215.00 Agreed sale price is $38,100 MF is 0.00165 Tax is 7.75% Residual is 56% 3 year lease with $3,000 down, 15,000 miles/year comes out to $489 + tax according to my dealer. Also considering $5,500 down, 15,000 miles/year, which comes out to $451 including tax. However, $5,500 seems like a bit much to put down on a lease. Last option is balloon financing which makes it $425 (inc. tax)/month for 60 months with $5,500 down, but balloon payment of $16,500 at the end. This is the least desirable option to me, but just wanted to list it for comparison. So what do you guys think? Can I do better? Thanks in advance!
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Last edited by chrisE92; 08-28-2011 at 12:48 PM.. |
08-27-2011, 09:04 PM | #2 |
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Drives: 2018 M3 CS
Join Date: Oct 2007
Location: Franklin, TN
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My advice? Never put money down on a lease. Also, what is your lease rate (MF)?
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08-28-2011, 08:03 AM | #3 |
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There are only 2 things you can negotiate with a lease. The sales price and the money factor. The money factor is 1/24th of your yearly interest rate. You also pay tax on the lease payment. You have not included enough information.
What is the residual? What is the money factor? How much is the tax?
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Rich
'96 911 C4 Cab (276,000 1 owner smiles) '11 X3 35i Black Sapphire/Beige,SAP, CP, CWP, DHP, PREM, TECH, Sat radio, Hi Fi, BMW apps, smartphone, 19" w/mixed performance tires. |
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08-28-2011, 12:48 PM | #4 |
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thanks guys. Updated the first post with more info
MSRP is $41,215.00 Agreed sale price is $38,100 MF is 0.00165 Tax is 7.75% Residual is 56%
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08-28-2011, 01:19 PM | #5 |
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I'm coming up with different numbers than you.
3 years, $3000 down, $3115 discount, MF .00165, 7.75% tax: $464/month 3 years $5500 down, $3115 discount, MF, .00165, 7.75% tax : $385/month Here it is that same for the balloon option. 5 years, $5500 down, $3115 discount, 3.96% (same as .00165 MF), $16,500 ballooon: $428/month Have your CA check the numbers he/she is using.
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Rich
'96 911 C4 Cab (276,000 1 owner smiles) '11 X3 35i Black Sapphire/Beige,SAP, CP, CWP, DHP, PREM, TECH, Sat radio, Hi Fi, BMW apps, smartphone, 19" w/mixed performance tires. |
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08-28-2011, 01:49 PM | #6 | |
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Quote:
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08-28-2011, 02:04 PM | #7 |
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You have a decent discount of 7.5%. I only got 5%. Your MF is the same I got. It's the one for returning customers. How you package it (lease, down payment etc) is how it best fits your budget.
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Rich
'96 911 C4 Cab (276,000 1 owner smiles) '11 X3 35i Black Sapphire/Beige,SAP, CP, CWP, DHP, PREM, TECH, Sat radio, Hi Fi, BMW apps, smartphone, 19" w/mixed performance tires. |
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