04-07-2015, 05:53 PM | #155 |
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Here is a link to a lease calculator that I think will be very useful for this thread: http://f80.bimmerpost.com/forums/att...4&d=1391667449
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04-07-2015, 06:19 PM | #156 |
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04-07-2015, 06:36 PM | #157 | |
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Great post OneRib! Best full lease explanation out there and now we can just link back to here when people ask questions. One minor clarification
When you turn your car in, the dealer can buy the car on the spot from BMWFS (as you noted, they get a better price than the residual). In that case, they can sign off on the car as is and you are free and clear (sometimes an advantage vs. waiting for the final BMW inspection). Quote:
"tax will be based on each lease payment (plus related fees and charges)" So no advantage to not rolling in (although my dealer normally makes me pay the doc fees and DMV fees outside of the lease anyway).
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04-07-2015, 06:47 PM | #158 |
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If you're doing a lease buyout, you're paying BMWFS directly since they own the car. Dealers do not own leased cars. If you're trading in the car to a dealer, they will take care of the buyout with BMWFS (just as they would if you had a loan on a car and were trading it in).
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04-07-2015, 07:28 PM | #160 |
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Very valuable information especially for 1st time buyers. Nice work OneRib
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04-07-2015, 07:48 PM | #161 | |
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04-07-2015, 07:53 PM | #162 | ||
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Btw OP- thank you so much for this post, that must have taken you a while, so your efforts are appreciated!
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04-07-2015, 08:22 PM | #164 | ||
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I may be wrong about California. PLEASE double check your state rules via the state government site or something similar. I am not an accountant and I can't be positive about any specific state's tax rules.
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04-07-2015, 08:25 PM | #165 | |||
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04-07-2015, 09:13 PM | #166 |
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Other cool part about leases is that if the car is ever severely damaged resulting in a salvage title after repaired by authorized shop BMW is the salvage title holder, not you.
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04-07-2015, 09:46 PM | #167 | |
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Why would there be a cap cost reduction left if I already paid $10k up front? Or are you saying that in order to not waste a significant amount of money, I'd be advised to ask anyone taking over the lease to pay me a pro-rated portion of the $10k in order to keep their monthly payment at the $648? |
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04-07-2015, 10:05 PM | #168 |
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Best thread in a long while. Well written and I agree with everything written. Good Job!
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04-07-2015, 10:30 PM | #169 |
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Great info OP! Agree with you an all accounts. Thanks for posting.
I've been wondering about one thing regarding purchasing extra miles. Does the residual get adjusted automatically in case you buy extra miles? In other words, if your original residual is say $30k...few months before your lease end you buy $2000 with of miles (because you are over)..is your new residual $28k now? |
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04-07-2015, 11:22 PM | #171 | |
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So in your example the $10k is your money you used to help finance borrowing the vehicle for a set period. You would want the prorated amount back if you don't use the vehicle for the whole time. Now you have to find someone willing to give it to you. If you put no money down, its just a matter of taking over the monthly payment.
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04-07-2015, 11:25 PM | #172 | |
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04-07-2015, 11:27 PM | #173 |
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Awesome thanks for sharing!
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04-08-2015, 06:25 AM | #175 |
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Slap this puppy on your laptop next time you lease. Instructions are in the second sheet. Enjoy!
https://www.dropbox.com/s/jlksj80qwx0v7pi/regm.xls?dl=0 There's a nice list of crowd-sourced lease rates/residual for most makes/models on ridewithg.com Invoice prices are all on edmunds.com With those 3 things you'll be unstoppable. Well not really, but at least a VERY knowledgable consumer and sales managers will appreciate that. If they don't shop elsewhere or try an auto broker like best buy auto leasing in NY. |
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04-08-2015, 06:33 AM | #176 | |
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