12-13-2019, 06:12 PM | #1 |
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Lease: Please weigh in!
Will one of the lease gurus please weigh in on this deal? I am unclear as to why the payment is so much higher than my 80k msrp M3, so posting here. Thanks in advance!
MSRP: $69,095 Selling Price: $62,976 Rebates: $1,250 (Including Loyalty or whatever) Adjusted Cap cost: $65,535 Miles/yr: 10k Lease Factor: 0.00148 Money down: $1,286.55 (Including first month's payment) Total lease/month: $863 Please note, I am in NY, so I think taxes on lease work differently than other states. |
12-13-2019, 11:19 PM | #2 | |
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12-14-2019, 06:12 AM | #3 |
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They are juicing up the MF by .0002, it should be .00128. Your getting 8.8% off prior to rebate. You can easily get that to 10%+. $3,809 in Fees seems high. Never put any money down on a lease (can’t recoup whatever money you put down from insurance company if car is totaled).
FYI my lease I just signed on the 2020 X5 custom build is for $812 all in for a 77,395k car (except I have 7,500 miles not 10k) but just for reference. |
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12-14-2019, 08:19 AM | #5 | |
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Those are mostly taxes, in NY the sales tax on the entire lease amount needs to be paid upfront when the lease is signed. Many roll the taxes into the lease. While the circumstances would be rare, if the insurance payout is more than what is owed to the lease company, the lease company will cut you a check for the difference. The process is not different than putting a down payment on a vehicle when financing. |
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12-14-2019, 08:31 PM | #6 |
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Thought I might get some more feedback on this thread! I'm looking into ordering a 2020 X5 sDrive40i, and the best deal I've gotten so far is this:
MSRP: $69,170 Selling Price: $61,670 (10.8% discount) before incentives Residual: 55% (36-month/12k lease) Money Factor: 0.00128 Incentives: $2,250 total ($1,000 lease credit; $1,250 loyalty) MSDs: None Total driveoff: $2,500 Monthly Payment: $799/month (includes 9.5% LA County tax) Here is the build: 2020 X5 sDrive40i xLine Alpine White Canberra Beige/Black SensaTec Fineline Stripe Brown High Gloss Wood trim 21" Y-spoke bi-color wheels (Style 744) w/ PRF tires Executive Package M Sport Brakes Front and Rear Heated Seats Heated Front Seats Armrests & Steering Wheel Harman Kardon surround sound system I welcome your feedback and thoughts! Good deal/bad deal? Should I be getting more of a discount off the MSRP? Thanks everyone. |
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12-14-2019, 08:53 PM | #7 |
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^ Your deal looks good to me. You are getting a good discount from MSRP, base MF and the available incentives. As long as they are not charging you for some extra add on fees you should be fine. Congratulations on getting it.
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12-14-2019, 09:16 PM | #8 |
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12-15-2019, 12:17 AM | #9 | |
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12-15-2019, 06:40 AM | #10 | |
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FYI my deal I did last week is for a 77,395k MSRP for 812 a month $0 down not even first month. A true sign & drive. Last edited by HeynowbababooeyAckAck; 12-15-2019 at 07:21 AM.. |
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12-15-2019, 06:43 AM | #11 |
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And they are wrong in many, probably most, instances. Why finance the fees, taxes, etc. unless you are getting an extremely low, think under 1% equivalent, MF.
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12-15-2019, 07:13 AM | #12 |
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Because .00128MF is 3.07% interest. There are many investments that you can put that down payment money into that will net yield post tax more than 3.07 annually for 3 years. Don’t give the bank a penny more than you have to, take that money instead of giving it to the bank to use, and use it yourself!
Last edited by HeynowbababooeyAckAck; 12-15-2019 at 07:29 AM.. |
12-15-2019, 09:00 AM | #13 |
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And those same ones can lose that same percentage or more, we aren’t taking about long term investments but rather similar savings/investment instruments. If you have that in a high yield account you are getting under 2% so you are better off using that rather than financing. It is all a matter of personal preference and risk tolerance. Any “expert” that makes blanket statements regarding investing/leasing/etc. is not helpful and generally is incorrect.
Last edited by TurtleBoy; 12-15-2019 at 06:57 PM.. Reason: grammer |
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12-15-2019, 01:02 PM | #14 | |
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12-15-2019, 02:28 PM | #15 | |
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12-16-2019, 02:57 PM | #18 |
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12-16-2019, 03:43 PM | #19 |
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12-16-2019, 06:58 PM | #20 |
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01-01-2020, 10:22 PM | #21 |
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Did you consider instead putting that money towards MSDs to lower the MF? Either way, congrats!!! Come back and post pics!
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