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      08-27-2011, 06:44 PM   #1
chrisE92
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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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      08-27-2011, 09:04 PM   #2
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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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      08-28-2011, 12:48 PM   #4
chrisE92
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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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      08-28-2011, 01:49 PM   #6
chrisE92
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Quote:
Originally Posted by richardew View Post
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.
I see. And these are with 15k miles/year? I'll have him double check. Thanks!
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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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