Advice on 2014 328 xdrive diesel LEASE - City of Chicago - these are my quoted terms...

pparekhnc

I hate being a city of Chicago resident. I wanted to ask the group about my lease (potential) deal.

2014 328 xdrive DIESEL. sport line/tech/premium/cold weather. 10K/year, 36 months. ZERO down. MSRP $51225. Vehicle price (inclusive of holiday cash and $500 loyalty, the latter not taxable and coming through as ”cash down” is $46250.

So, vehicle price is actually $46750. Offering 61% residual, .00125 MF, $925 lenders fees, and $385 doc/title/etc.

The monthly is coming out to $719. According to G’s calculator, with Illinois tax at 9.25%, and the city of Chicago usage tax (not reflected in calculator but estimated at $50 bucks/mo), they are quoting $719 / mo. Sound right???? any help would be appreciated. I have a business and am opting NOT to do the ”owners choice” for tax reasons.

konacoug

Yow, and I thought living in Hawaii was expensive!! I can't get the figure to come out to that high of a number on the Edmunds lease calculator. I am at $596 with tax calculated at zip code 60007. I think they are padding the lease, the bank fee is raised $200. Overall, it is way too high a payment on a $46750 selling price. Can you provide a better break down of the fees and taxes? Finally, you could reduce your monthly payment by doing Multiple Security deposits.

kyfdx

Illinois taxes the full selling price of the vehicle, even on a lease... I think the Chicago tax is also on the full selling price.. It is onerous..