01-09-2017, 10:49 AM | #595 |
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Lease Payment
I can't figure out how the dealer is coming up with their monthly lease payment. I followed the instructions on this thread and am coming up with a monthly lease payment of $978.64. The dealer quote shows $1,017.15.
Here are the factors I'm using in my calculations. MSRP $70,565 Sales Price $68,565 Rebate $1,000 Residual 59% ($41.633) MF .00174 Down Payment $1,659.75 Tax Rate 6.25% (on total cap cost) Fees $1,396.06 (Veh Inv Tax $125.81, License St Insp $195.25, Doc Fee $150, Assign Fee $925) |
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01-09-2017, 10:58 AM | #596 | |
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01-09-2017, 11:03 AM | #597 | |
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01-16-2017, 12:12 PM | #599 |
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Hi, new to the forum. Just wanted to get some feedback, I'm looking to lease a 2017 M3 in the next couple of months. The first quote I received was $799.89 per month, with the relevant factors:
MSRP: $70,645 Sales Price: $65,354.38 Residual: 62% MF: 0.00134 Downpayment: 0 Fees: $2160.26 ($925 Acquisition Fee, DMV $304.50, NJ Tire Fee $6.00, Documentation Fee $599.75, NJ luxury tax $261.42, Upfront tax $63.59) Using Leasematic, I get a $725 monthly payment; but using Edmund's the payment is approximately $100 greater per month. Any thoughts are greatly appreciated. Thanks. |
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01-16-2017, 12:43 PM | #600 | |
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01-16-2017, 12:54 PM | #601 |
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Thanks, Firedown. Please see attached. The first screen shot is inputs and the second is the output.
Also, what do you think about the sales price - should I push for a rebate or negotiate a lower price? |
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01-16-2017, 02:04 PM | #602 | |
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I'd negotiate the doc fee down. |
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01-16-2017, 08:39 PM | #603 |
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Thanks. I was able to get to their payment. I also had them reduce the document fee by 60% and a little on the final sales price ($65,000 (MSRP is $71,500)). Any thoughts on the price?
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01-17-2017, 09:32 AM | #604 |
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You're getting about 10% of MSRP, so in general that's a good deal. There is a name your deal thread where it can be discussed in more detail. I am not sure of the current discounts on M3s as I'm not actively shopping.
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01-29-2017, 03:03 PM | #606 | |
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02-03-2017, 06:56 PM | #607 | |
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You can also try this quote that https://dsrleasing.com/car-listings/...-lease-539-mo/ could give you. Just be a resourceful man, take leads that can make way better. |
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04-30-2017, 02:06 PM | #608 |
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New here, but have been lurking for awhile. I'm interested in leasing either a remaining 17 or waiting to later in summer and leasing an 18 M3.
Options I want are: Yas Marina Blue 19" M Style 437 wheels in grey/silver Silverstone Full Merino Executive Pkg Apple car play Automatic I believe MSRP is $76,645 for above options. I'd like to lease for 36 months with 10K miles per year and would like my payment to be no higher than $600. How much would I have to put down to get to this? Imagine I can get $3000-$4000 off of MSRP as well. |
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04-30-2017, 04:12 PM | #609 | |
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In there however you will see the all important fact that you should NEVER put money down on a lease. You total the car and you are out that cash. Take the money you would use for a down payment and use towards the lease payment - and if that makes the payment too high, then the car is not for you.
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04-30-2017, 06:20 PM | #610 | ||
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04-30-2017, 09:19 PM | #611 | |
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And it is very helpful.
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04-30-2017, 10:00 PM | #612 | |
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335s lease around 600. |
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05-01-2017, 08:01 AM | #613 | |
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In the unfortunate situation the car gets wrecked, yes I'm Sh-t of of luck but oh well. 10k ish won't break me. |
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05-01-2017, 09:17 AM | #614 | |
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Trying to get your payment lower by doing a down payment is not a smart move. Based on your post above you must be well off and therefore I would guess you are very smart - in which case, you know that you can take the $10K and invest it in the market (Vanguard 500?) and get 12% right now - vs. the 4% interest you will be saving from BMW. edit - read the thread... or this could help? http://lmgtfy.com/?q=is+putting+mone...a+%20good+idea
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05-02-2017, 08:03 AM | #615 | |
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Sure, you get the psychological perception that your payment is lower, but its really not. If you can afford 80k on a boat, then its likely you understand this as well but for those following... Cash down on a lease is just pre paying it. You save a bit of money on the finance charge but thats it. If you put 10k down on a lease to get a payment of 650 a month, your payment is NOT 650 a month (that 10k does not just go away). It would be 650 + 277.77 (277.77 = 10,000 divided by 36 month lease). So that payment is not 650, its 927. Sometimes you just want to hit a certain payment threshhold for some reason (significant other, just a feeling of having a lower payment etc)... but a person does not save money putting a large down payment down, and assumes risk. Using "eyeball" math (so no calculator), I would imagine that in order to hit the number you are talking about, if your MSRP was around 75k, you would need to have a sales price around 69-70k and then put CAP COST REDUCTION of around 12-13k. Please note that CAP COST REDUCTION is what is known as money down, and does NOT include any other taxes and fees that might be needed. To achieve cap cost reduction of about 12-13k and also pay your taxes and fees up front, if you are in a state that pays tax as you go on a lease you will likely need to add around 2.5k to that above number so your "DRIVE OFFS" would likely be around 15k ish. Again just eyeball math but if I pulled out a lease calculator I dont feel I would be several thousand off. With 13k of cap cost reduction on a 625 payment, thats an additional 361 so the payment is ACTUALLY 986. You get to tell people that your payment for your sweet M3 ride is 625, but the actual cash outlay says its not. Much better and safer for you to put the 13k in a bank account and pull 361 a month from it to make your payment. Accomplishes same thing of setting the money aside etc, but protects you from the possibility of a huge loss of that cap cost reduction. With that being said, if you are willing to accept the risk, I am guessing that the above numbers are fairly close to what you need to hit to make your targets |
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05-03-2017, 08:28 PM | #616 |
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Thanks for the feed back. That's what I was after. Original reply hit me the wrong way. Now I'm leaning toward purchasing instead of leasing. My main concern is how I'll come out 3 or 4 years down the road when I want the next car. Will I lose more when I trade/sell vs leasing?
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