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      03-11-2014, 11:36 AM   #1
darkerosxx
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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
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      03-11-2014, 01:43 PM   #2
basiluf
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Here is the best and easiest lease calculator. Plug and play.

http://www.leaseguide.com/calc.htm
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      03-11-2014, 01:55 PM   #3
basiluf
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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.
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      03-11-2014, 01:59 PM   #4
darkerosxx
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Quote:
Originally Posted by basiluf View Post
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.
Well, I just got a big raise today, so I think I'm going to be able to go this route. The increase in price wouldn't have stretched me too thin, just more thin than I would like and with my raise that's no longer an issue. Thanks!
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      03-11-2014, 10:33 PM   #5
2ForMe
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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?
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      03-11-2014, 11:33 PM   #6
kerm1t
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Quote:
Originally Posted by 2ForMe View Post
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?
LOL same thing to me too. $46.9k, 10/36mo, 3k drive off, monthly $520 tax included
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      03-12-2014, 08:31 AM   #7
G8r3Series
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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.
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      03-12-2014, 09:34 AM   #8
basiluf
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Quote:
Originally Posted by 2ForMe View Post
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?
The OP asked to confirm his numbers, not whether or not he is getting a good deal. He is also paying 9.5% sales tax, which is a ton.
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      03-12-2014, 11:13 AM   #9
darkerosxx
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Quote:
Originally Posted by G8r3Series View Post
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.
So, the only way I can see this happening is if they gave you a much larger discount off MSRP. Is that it, or something else?
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      03-12-2014, 12:51 PM   #10
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Quote:
Originally Posted by basiluf View Post
The OP asked to confirm his numbers, not whether or not he is getting a good deal. He is also paying 9.5% sales tax, which is a ton.
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..
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      03-12-2014, 01:36 PM   #11
basiluf
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Quote:
Originally Posted by 2ForMe View Post
His tax rate is 2.5% higher than mine. Take away the difference and he's almost right at my level
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.
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      03-12-2014, 06:33 PM   #12
Lucky13
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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.
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      03-13-2014, 10:15 AM   #13
G8r3Series
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Quote:
Originally Posted by darkerosxx View Post
So, the only way I can see this happening is if they gave you a much larger discount off MSRP. Is that it, or something else?
Yes, my sale price was lower because I got a larger discount off MSRP.
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