[Design1314]

Hi all, 2008 328i coupe (3 year lease with 10000 miles an year)

$39600 (after negotiation)
$3400 due at pick up (includes all fees registration, security deposit, and tax)
$531 a month

How did I do??

[Bostonian]

Depends upon options, etc. What was the invoice and MRSP?

[stooken]

Originally Posted by Bostonian

Depends upon options, etc. What was the invoice and MRSP?

+1

what options?

[Design1314]

Options:
Steptronic
Power seats
Navi
Logic 7

[stooken]

$39,600 sounds a little high but i guess cause it's an 08.

i got mine for barely over $41k so a little under $45k after tax with sports package, steptronic, coral red leather, comfort access, navi, and logic 7.

drive off was about $1000.

i guess cause mines an 07. my payment is about $60 more than yours.

[Design1314]

what did your drive off include? How come my drive off was $3400? big differece

[stooken]

Originally Posted by Design1314

what did your drive off include? How come my drive off was $3400? big differece

because yours includes a small cap cost reduction. first months payment, tax, title, registration does not cost $3400. the difference goes to reduce the agreed selling price of the car. i believe you get taxed on that cap cost reduction as well.

i told my CA i wanted minimum drive off. everything else gets rolled into my monthly payment. my goal was the pay as little as possible out of pocket up front. that way, if i decide not to keep my car for the full lease term, i dont lose out on all that money i paid up front.

forgot to mention, mines is 15k miles/yr too.

[Design1314]

Originally Posted by stooken

because yours includes a small cap cost reduction. first months payment, tax, title, registration does not cost $3400. the difference goes to reduce the agreed selling price of the car. i believe you get taxed on that cap cost reduction as well.

i told my CA i wanted minimum drive off. everything else gets rolled into my monthly payment. my goal was the pay as little as possible out of pocket up front. that way, if i decide not to keep my car for the full lease term, i dont lose out on all that money i paid up front.

forgot to mention, mines is 15k miles/yr too.

Mine is 10k not 15k. just want to make sure that its normal to pay about $3400 at drive-off.

[Design1314]

bump bump

[stooken]

Originally Posted by Design1314

Mine is 10k not 15k. just want to make sure that its normal to pay about $3400 at drive-off.

that's about right. "normal" lease terms require a drive off of around there. i chose NOT to pay that and rolled it into my loan instead. so that amount is divided up over my 3 year lease.

you're just paying it up front. so if you total the car, sell it or do a lease takeover, you lose all that. i just lose $X depending on how long i keep the car for.

so if we had the same exact deal whereas you put the full amount down and i put the minimum, my monthly payments would be higher but my total out of pocket month by month would be less than yours.