2015 BMW X1 Lease Questions

Kirstie_H

Welcome to Edmunds discussion dedicated to 2015 BMW X1 leasing questions.
Here you can find and discuss all the latest lease details for the 2015 X1, including cap costs, money factors, residual values, acquisition fees, etc. Please post any leasing questions you have or any details you’d like to share about your own lease deals.
You can also research local dealer inventory and pricing, reviews, features, and specifications, on our 2015 BMW X1 page.
If you have already leased, we invite you to review your vehicle by starting on the following page: http://www.edmunds.com/car-reviews/consumer-ratings-reviews.html

jpbran

Can I get the numbers for a 2015 X1 RWD for 24m/15k?

kyfdx

@jpbran said:
Can I get the numbers for a 2015 X1 RWD for 24m/15k?

.00133 MF and 66% residual.

36 month residual is 57%

bdpdx

What are the MF & R for a 2015 BMW X1 xdrive28i 36/10, 36/12, and 24/12? Thank you!

kyfdx

@bdpdx said:
What are the MF & R for a 2015 BMW X1 xdrive28i 36/10, 36/12, and 24/12? Thank you!

.00130 MF and 59% residual for 36mo, 12K/yr. 60% for 36mo, 10K/yr. 65% for 24mo, 12K/yr.

$500 option credit.

ericseol

Plan to lease x1, xdrive28i, 36/10k. MSRP is $35500, offered about $2500 discount. Offered at $361/$3800 cash at signing. Is it a good deal? Thanks!

kyfdx

@ericseol said:
Plan to lease x1, xdrive28i, 36/10k. MSRP is $35500, offered about $2500 discount. Offered at $361/$3800 cash at signing. Is it a good deal? Thanks!

.00129 MF and 63% residual. $500 Innovation credit.

bdpdx

How about 2015 BMW X1 xdrive28i 36/12k now? If you were to guess for Oct/Nov/Dec of 2014, what would you predict? [No problem if you just want to provide current numbers and avoid prognosticating! Thank you!]

kyfdx

bdpdx said:

How about 2015 BMW X1 xdrive28i 36/12k now? If you were to guess for Oct/Nov/Dec of 2014, what would you predict? [No problem if you just want to provide current numbers and avoid prognosticating! Thank you!]

.00129 MF and 62% residual. $500 Innovation Credit.

Sorry... but, no clue as to the future.

tgomes

I am planning in getting a 2015 BMW X1 sdrive28i 36/12k RWD now? What are the numbers for a tier 1 credit?

Michaell

tgomes said:

I am planning in getting a 2015 BMW X1 sdrive28i 36/12k RWD now? What are the numbers for a tier 1 credit?

.00129 MF and 62%. $500 innovations credit.

jcarlough

15 X1 35i

Can I get residual and MF for a 36/10?

Thanks!

Michaell

jcarlough said:

15 X1 35i

Can I get residual and MF for a 36/10?

Thanks!

.00129 and 63%. $500 innovations credit.

tadhgt

Can I get October 2014 numbers for xDrive28i 36/10, 36/12, 36/15?

Michaell

tadhgt said:

Can I get October 2014 numbers for xDrive28i 36/10, 36/12, 36/15?

.00129 and 60% for 36/15

Add 2% for 12K and 3% for 10K

$500 innovation credit

jcarlough

Michaell said:

15 X1 35i

Can I get residual and MF for a 36/10?

Thanks!

.00129 and 63%. $500 innovations credit.

Is this the same for October?

Thanks!

kyfdx

jcarlough said:

Michaell said:

15 X1 35i

Can I get residual and MF for a 36/10?

Thanks!

.00129 and 63%. $500 innovations credit.

Is this the same for October?

Thanks!

Yes... same numbers for October

car_aholic

Hey Guys, need your help on a deal I'm working with a local dealer:
2015 BMW X1 RWD 28i
Here's what the dealer says:
Vehicle MSRP: $38,860.00
Un4gettable Coupon: -$1,000.00
Innovation Credit: -$500.00
Additional Savings: -$2,960.00
SmartChoice Price: $34,400.00
Shipping: (out of state)+ $400.00
Vehicle Selling Price: $34,800.00
Acquisition fee + $925
Title Fee: + $28.25
Documentation Fee: + $399.50
Total get in down: $1,000.00
Monthy pmt (incl 8.1% tax) : $445

Using the .00129 MF and 63% residual my calculator says payment of ~ $404.00, who's right?
Also, they say the Acquisition fee in NV is 925, I thought it's 725 on all states?
Thanks.
IP

kyfdx

car_aholic said:

Hey Guys, need your help on a deal I'm working with a local dealer:
2015 BMW X1 RWD 28i
Here's what the dealer says:
Vehicle MSRP: $38,860.00
Un4gettable Coupon: -$1,000.00
Innovation Credit: -$500.00
Additional Savings: -$2,960.00
SmartChoice Price: $34,400.00
Shipping: (out of state)+ $400.00
Vehicle Selling Price: $34,800.00
Acquisition fee + $925
Title Fee: + $28.25
Documentation Fee: + $399.50
Total get in down: $1,000.00
Monthy pmt (incl 8.1% tax) : $445

Using the .00129 MF and 63% residual my calculator says payment of ~ $404.00, who's right?
Also, they say the Acquisition fee in NV is 925, I thought it's 725 on all states?
Thanks.
IP

You don't say which of the fees below the selling price are included in the CAP cost and lease payment, but I'll assume just the $925 acq.fee. That results in a CAP cost of $35725, and a pre-tax payment of $390/mo. or $421/mo. after tax.

They are marking up the acq.fee by $200 for extra profit. Given that, did they disclose the money factor? Most likely, they are marking that up for extra profit, as well (or, maybe it's the special Nevada money factor.. lol). Marking up the money factor to .00169 would add about $25/mo.+tax to the payment, which would just about account for the difference.

So... you started out with a good price, but you've added $400 for shipping, $400 for a doc fee (just revenue for the dealer), $200 for a marked up acq.fee and another $900 over the lease for a marked up money factor. That is an extra $1900 total, or over $50/mo.

I will say that the selling price is better than I would have thought on a new 2015 X1, so maybe there is some give and take.. I wouldn't say you are $1900 away from a good deal... but, maybe $900-$1000 away.

car_aholic

Thanks much. The dealer later admitted to me marking up the MF .0004 or 1% interest rate. Still my number comes lower than quoted payment, we'll see what they offer tomorrow.
Thanks.

kpcpafl

Hello - Will you verify the current MF, and Residual % for a 2015 X1 sDrive 28i for a 36 month, 10k mile lease in FL. Thank you!

Michaell

kpcpafl said:

Hello - Will you verify the current MF, and Residual % for a 2015 X1 sDrive 28i for a 36 month, 10k mile lease in FL. Thank you!

.00129 and 63%. $500 innovations credit.

kpcpafl

Got this deal in FL for a 2015 x1 28i. Sport line, alpine white, ultimate package, lighting package. 

It's $40,800 MSRP, $38,825 negotiated price, 36 mos/10k miles, $0 down,  $1.8k drive off includes TTT, dealer fee and first month. Monthly payment is $480 with tax.

Does this look like a good deal? Thank you.

kpcpafl

FYI... $925 acquisition and $500 innovation credit included in payment in neg. price.

Michaell

kpcpafl said:

Got this deal in FL for a 2015 x1 28i. Sport line, alpine white, ultimate package, lighting package. 

It's $40,800 MSRP, $38,825 negotiated price, 36 mos/10k miles, $0 down,  $1.8k drive off includes TTT, dealer fee and first month. Monthly payment is $480 with tax.

Does this look like a good deal? Thank you.

Acquisition fee is marked up ... base is $725.

MF is .00129 and 36/10 residual is 63% ... with your MSRP and selling price, I get a pre-tax payment of $447.71/mo. $480 with tax seems about right, depending on what the tax rate is where you live.

kpcpafl

Thank you for your input. The tax rate here is 6%, so it's very close to the quoted $480. They initially started with a much higher money factor. I feel that this is a good deal, and will order.

Michaell

kpcpafl said:

Thank you for your input. The tax rate here is 6%, so it's very close to the quoted $480. They initially started with a much higher money factor. I feel that this is a good deal, and will order.

Always good to get the base money factor. Enjoy!

kpcpafl

What are the current MF, and Residual % for a 2015 X1 sDrive 28i for a 36 month, 10k mile lease in FL? Available incentives? 

kyfdx

kpcpafl said:

What are the current MF, and Residual % for a 2015 X1 sDrive 28i for a 36 month, 10k mile lease in FL? Available incentives? 

.00130 MF and 64% residual for 39 mo, 10K/yr. $1000 holiday credit.

We don't have all of the info yet, so no word on 36 months, but 39 mo is the "special" term for this month.

jpop46

What was the MF for October and residual % for 2015 xDrive 28i, 36 month, 12k mile lease in KS?

Michaell

jpop46 said:

What was the MF for October and residual % for 2015 xDrive 28i, 36 month, 12k mile lease in KS?

November numbers have been released from BMW:

.00130 and 63% for 39 months, 12K miles per year. $1000 holiday cash.

Subrtract 1% from the residual for 36 months.

flyespresso

Hello--I was wondering if my logic is flawed or I'm way off with my calculations... Looking to order a X1 35 but do Euro Delivery:

MSRP: $42,150 (Alpine White, Sports Line)
Invoice: $38,830
Euro Delivery Discount: - $2,665
Holiday Cash: -$1,000

Best case price: $35,165 I realize that is highly unlikely--seems what I've read is normal euro is $500-$1000 above invoice/best.

Regardless--I wanted to find the "floor" so I'm not snowballed.

Using same numbers you gave/lease special: 39 month, .0013, 64% (10K miles) $2,750 down + all other fees separate (not rolled into the rate). Zip is 98109.

I get: 258.03 (incl Washington's 9.8% sales tax).

That seems to good to be true? Did I flop somewhere? Our family dealer historically will handily give us cars at near invoice... Hence why I did the calculations. I myself now live in Washington and the dealers out here seemingly have no idea how euro works. Some even argue they have to even have a build slot available...

Michaell

flyespresso said:

Hello--I was wondering if my logic is flawed or I'm way off with my calculations... Looking to order a X1 35 but do Euro Delivery:

MSRP: $42,150 (Alpine White, Sports Line)
Invoice: $38,830
Euro Delivery Discount: - $2,665
Holiday Cash: -$1,000

Best case price: $35,165 I realize that is highly unlikely--seems what I've read is normal euro is $500-$1000 above invoice/best.

Regardless--I wanted to find the "floor" so I'm not snowballed.

Using same numbers you gave/lease special: 39 month, .0013, 64% (10K miles) $2,750 down + all other fees separate (not rolled into the rate). Zip is 98109.

I get: 258.03 (incl Washington's 9.8% sales tax).

That seems to good to be true? Did I flop somewhere? Our family dealer historically will handily give us cars at near invoice... Hence why I did the calculations. I myself now live in Washington and the dealers out here seemingly have no idea how euro works. Some even argue they have to even have a build slot available...

Somewhere the math went sideways. I'm getting $319.25/mo for 39 months using the numbers provided (and 9.8% tax).

However, I think the ED MF is higher than the base rate, but I don't know exactly what it is. My co-host is more knowledgeable on BMW leases; I'll let him chime in when he has a moment.

kyfdx

flyespresso said:

Hello--I was wondering if my logic is flawed or I'm way off with my calculations... Looking to order a X1 35 but do Euro Delivery:

MSRP: $42,150 (Alpine White, Sports Line)
Invoice: $38,830
Euro Delivery Discount: - $2,665
Holiday Cash: -$1,000

Best case price: $35,165 I realize that is highly unlikely--seems what I've read is normal euro is $500-$1000 above invoice/best.

Regardless--I wanted to find the "floor" so I'm not snowballed.

Using same numbers you gave/lease special: 39 month, .0013, 64% (10K miles) $2,750 down + all other fees separate (not rolled into the rate). Zip is 98109.

I get: 258.03 (incl Washington's 9.8% sales tax).

That seems to good to be true? Did I flop somewhere? Our family dealer historically will handily give us cars at near invoice... Hence why I did the calculations. I myself now live in Washington and the dealers out here seemingly have no idea how euro works. Some even argue they have to even have a build slot available...

.0003 bump in the MF for ED.. Also, not sure the Holiday Credit will apply (but it might). Also, doubtful you'll get an invoice deal on a new 2015 model.

flyespresso

Thanks for the ED bump--didn't know about that. Now I'm curious as to how I am so far off on calculating this. Granted I use the lease calculator on Edmunds.com but with the new MF I'm getting $254 (plus tax). I double counted tax before...

MSRP: 42150 (Residual of $26,976)
"Overly Optimistic" Euro Invoice: $36,165
Holiday Cash: $1,000
Term: 39 Months
MF: .0016
Mile: 10K
Down: $2,750 (All other fees paid in full separately, like acquisition, doc, title, reg, etc)

You guys are awesome! Thanks for the help! It's nice to be informed going into this rather than being on the receiving end of cloudy statements..!



Danke,
Phil

Michaell

flyespresso said:

Thanks for the ED bump--didn't know about that. Now I'm curious as to how I am so far off on calculating this. Granted I use the lease calculator on Edmunds.com but with the new MF I'm getting $254 (plus tax). I double counted tax before...

MSRP: 42150 (Residual of $26,976)
"Overly Optimistic" Euro Invoice: $36,165
Holiday Cash: $1,000
Term: 39 Months
MF: .0016
Mile: 10K
Down: $2,750 (All other fees paid in full separately, like acquisition, doc, title, reg, etc)

You guys are awesome! Thanks for the help! It's nice to be informed going into this rather than being on the receiving end of cloudy statements..!



Danke,
Phil

Using the MSRP of $42,150 and the net cap cost of $32,415, along with the 64% residual and .00160 MF, I get a pre-tax payment of $234.49/mo for 39 months. 8% tax rate takes the payment to $253 or so.

Now its about getting that "overly optimistic" invoice price ...

flyespresso

Agreed. What's resonable in your mind? They keep the holiday cash ($1,000)?

Right now the first offer from our dealer was $36,895, $306 a month before tax. They keep the holiday cash too. They adjusting the money factor by kicking it up 1% to 4.8% APR / (.002).

Michaell

flyespresso said:

Agreed. What's resonable in your mind? They keep the holiday cash ($1,000)?

Right now the first offer from our dealer was $36,895, $306 a month before tax. They keep the holiday cash too. They adjusting the money factor by kicking it up 1% to 4.8% APR / (.002).

Well, it is the new model year, so perhaps the discounts won't be as aggressive.

You may want to consider opening discussions with a second BMW dealer - competition may help your cause and get you a better selling price.

flyespresso

Just signed on a 2015 X1 35 $44,500 car for $304 a month (before tax). $3,750 down (the extra $1,000 being the "cost" of me going to Europe).

I think I did good--plus it's local off the lot!

Michaell

flyespresso said:

Just signed on a 2015 X1 35 $44,500 car for $304 a month (before tax). $3,750 down (the extra $1,000 being the "cost" of me going to Europe).

I think I did good--plus it's local off the lot!

Nice deal - enjoy!

jpbran

Asked this a while back, but sure it's changed: 2015 X1 RWD for 24m/15k?

kyfdx

jpbran said:

Asked this a while back, but sure it's changed: 2015 X1 RWD for 24m/15k?

.00130 MF and 66% residual. $1000 Holiday Credit.

The special term this month is 39 months... Residual is 61%

jeff809

Hello, ive got offered following deal:

Total MSRP: $41300

Selling price: $37500.00
39 months, 10k miles/year
Residual: 64%
Money Factor: 0.00081(Max MSD)

Monthly payment: $335.57 before tax (After tax $365.78)
Security deposit for MSD purpose: $2800
Due at signing: $4402.22 (includes msd’s and drive offs)
1st payment 365.77
Cap reduction 0.00
Sales tax 72.45
License fee 359.00
Msd’s 2800.00
Acq / doc 805.00
TOTAL 4402.22

I think this is an okay deal right? Help is much appreciated

Michaell

jeff809 said:

Hello, ive got offered following deal:

Total MSRP: $41300

Selling price: $37500.00
39 months, 10k miles/year
Residual: 64%
Money Factor: 0.00081(Max MSD)

Monthly payment: $335.57 before tax (After tax $365.78)
Security deposit for MSD purpose: $2800
Due at signing: $4402.22 (includes msd’s and drive offs)
1st payment 365.77
Cap reduction 0.00
Sales tax 72.45
License fee 359.00
Msd’s 2800.00
Acq / doc 805.00
TOTAL 4402.22

I think this is an okay deal right? Help is much appreciated

Looks real solid .. and, you're getting over 16% rate of return on the MSD monies.

Enjoy!

hurricanes23

I have never done a lease deal with BMW before but it seems very high to do it with them.

Here is what they are offering me

2015 535i
Msport
Premium Package
Driver Assistance Package
Heated Seats
MSRP$63,500
Sale Price$57,835

39 Months 10K Miles
$5K down
$578 per month total including taxes...

I don't know any of the other terms or the break down of the fees...
Should I structure the deal different?

Michaell

hurricanes23 said:

I have never done a lease deal with BMW before but it seems very high to do it with them.

Here is what they are offering me

2015 535i
Msport
Premium Package
Driver Assistance Package
Heated Seats
MSRP$63,500
Sale Price$57,835

39 Months 10K Miles
$5K down
$578 per month total including taxes...

I don't know any of the other terms or the break down of the fees...
Should I structure the deal different?

Base MF is .00130 and the 39/10 residual for the 535i is 61%. With your MSRP and sale price, I calculate a pre-tax payment of $615.28.

I presume that a significant amount of the $5K is going to down payment .. each $1000 will reduce your pre-tax payment by about $26/mo.

What state do you live in? Lease tax obligations vary based on where you live.

Ask the dealer to break down the $5K and also to provide the money factor they are using in their quote.

enki941

Hey everyone. While I'm researching things on my own, I figured it would be worth a shot to get some feedback/advice/etc. from the group. So here it goes:

We're planning on getting a new 2015 BMW X1 and will probably go the lease route. We're looking at a nicely loaded (Ultimate Package, X-Line, Heated Seats) one and believe we're getting a very good deal on it from a sale price perspective:
MSRP: $40,950
Invoice (as configured): $38,260
Truecar: $38,024
Negotiated: $37,100

Due to the Holiday and Black Friday discounts (~$1000 each), we were able to get them to agree to a price well below invoice and almost a thousand below the Truecar price (albeit without the extra $1000 BF discount incorporated into the Truecar price). I am pretty sure that this is a very good deal, though would be open to feedback if I'm mistaken.

We got a lease estimate, but after reviewing it I think it might be a bit high. We spoke to the finance guy who sort of answered our questions and said the money factor was about .0013, but I'm having a hard time getting the numbers to add up, though that could just be me. Here is the breakdown. Keep in mind that these numbers are based on a selling price of $37,600, which is $500 more than they agreed to later on, but as long as the math holds true here then it should be good with the recalculated amounts.

MSRP: $40,950
Discount: $3,350
Adjusted Price: $37,600

Taxable Fees: $925 (I believe this is the lease origination fee with BMW Finance)
Doc Fee: $799 (I believe this goes to the dealership. Sounds like just profit...)
Tax: $279.98 (They said that this was the tax on the deposit, but I can't get it to match)
Non Tax Fees: $313.50 (They said this is the tag transfer and title fee)

Net Price: $39,917.48

Assuming those other fees look legit and reasonable (please let me know), that brings the total of this lease estimate to $39,917.48. Next, they said with a $4500 down payment, a 39 month lease at 12k miles a year will be $374.65 plus tax ($399 tax inclusive). And that's where I'm having a hard time figuring out the money factor.

My understanding is that all the taxes and fees are getting rolled up and covered by the cash we're putting down, plus the rest to lower the cap cost. But with $4500 off, we're down to financing $35417.45. This car has a 63% residual according to them, based on the 39 month/12k miles lease, which based on the MSRP gives us $25,798.50 for the residual, and a depreciation of $15151.50 off the MSRP, but only $9,618.98 off the sale price. Total monthly payments is $14,611.35, plus the $4500 deposit, for a total of $19,111.35. After removing the taxes and fees, the payments equal $16,793.87, which is about $7174.89 above the depreciation. Am I calculating something wrong???

I've tried a bunch of money factor calculators, but I'm getting different results. Our credit is top tier, so we should qualify for the best financing rates. I ran the numbers myself, and based on a .00125 MF rate, my calculation shows that the monthly payment before tax should be $323.16, which is about $51 less than their number.

Anyway, I would greatly appreciate it if anyone can let me know if this is a good deal and if the financing checks out.

On a side note, they let us take the car home for the night and we've been driving it around. So far, we both love it.

Thanks!

Michaell

enki941 said:

Hey everyone. While I'm researching things on my own, I figured it would be worth a shot to get some feedback/advice/etc. from the group. So here it goes:

We're planning on getting a new 2015 BMW X1 and will probably go the lease route. We're looking at a nicely loaded (Ultimate Package, X-Line, Heated Seats) one and believe we're getting a very good deal on it from a sale price perspective:
MSRP: $40,950
Invoice (as configured): $38,260
Truecar: $38,024
Negotiated: $37,100

Due to the Holiday and Black Friday discounts (~$1000 each), we were able to get them to agree to a price well below invoice and almost a thousand below the Truecar price (albeit without the extra $1000 BF discount incorporated into the Truecar price). I am pretty sure that this is a very good deal, though would be open to feedback if I'm mistaken.

We got a lease estimate, but after reviewing it I think it might be a bit high. We spoke to the finance guy who sort of answered our questions and said the money factor was about .0013, but I'm having a hard time getting the numbers to add up, though that could just be me. Here is the breakdown. Keep in mind that these numbers are based on a selling price of $37,600, which is $500 more than they agreed to later on, but as long as the math holds true here then it should be good with the recalculated amounts.

MSRP: $40,950
Discount: $3,350
Adjusted Price: $37,600

Taxable Fees: $925 (I believe this is the lease origination fee with BMW Finance)
Doc Fee: $799 (I believe this goes to the dealership. Sounds like just profit...)
Tax: $279.98 (They said that this was the tax on the deposit, but I can't get it to match)
Non Tax Fees: $313.50 (They said this is the tag transfer and title fee)

Net Price: $39,917.48

Assuming those other fees look legit and reasonable (please let me know), that brings the total of this lease estimate to $39,917.48. Next, they said with a $4500 down payment, a 39 month lease at 12k miles a year will be $374.65 plus tax ($399 tax inclusive). And that's where I'm having a hard time figuring out the money factor.

My understanding is that all the taxes and fees are getting rolled up and covered by the cash we're putting down, plus the rest to lower the cap cost. But with $4500 off, we're down to financing $35417.45. This car has a 63% residual according to them, based on the 39 month/12k miles lease, which based on the MSRP gives us $25,798.50 for the residual, and a depreciation of $15151.50 off the MSRP, but only $9,618.98 off the sale price. Total monthly payments is $14,611.35, plus the $4500 deposit, for a total of $19,111.35. After removing the taxes and fees, the payments equal $16,793.87, which is about $7174.89 above the depreciation. Am I calculating something wrong???

I've tried a bunch of money factor calculators, but I'm getting different results. Our credit is top tier, so we should qualify for the best financing rates. I ran the numbers myself, and based on a .00125 MF rate, my calculation shows that the monthly payment before tax should be $323.16, which is about $51 less than their number.

Anyway, I would greatly appreciate it if anyone can let me know if this is a good deal and if the financing checks out.

On a side note, they let us take the car home for the night and we've been driving it around. So far, we both love it.

Thanks!

We don't recommend putting money down on a lease - if the car is stolen or totaled, you are out that money.

Second, what state is this? Lease tax obligations vary greatly based on where you live.

$925 is the acquisition fee - marked up $200. $799 is the dealer fee - pure profit (Florida?).

Base MF is .00130 this month. Usi8ng your MSRP and net selling price of $37,600 (before the fees, etc), I get a pre-tax payment of $385.02/mo for 39 months.

The dealer is using the "puppy dog close" on you. They figure if you have the car for 12-24 hours, you won't want to give it back and may be willing to sign a less than great deal.

enki941

Michaell said:

We don't recommend putting money down on a lease - if the car is stolen or totaled, you are out that money.

Second, what state is this? Lease tax obligations vary greatly based on where you live.

$925 is the acquisition fee - marked up $200. $799 is the dealer fee - pure profit (Florida?).

Base MF is .00130 this month. Usi8ng your MSRP and net selling price of $37,600 (before the fees, etc), I get a pre-tax payment of $385.02/mo for 39 months.

The dealer is using the "puppy dog close" on you. They figure if you have the car for 12-24 hours, you won't want to give it back and may be willing to sign a less than great deal.

Thanks for the feedback. I had thought that putting money down to lower the cap cost was a standard practice to get a better rate. Should I try to negotiate this out? I assume you're saying to pay the taxes and fees in cash, but finance the full amount of the vehicle?

You guessed correctly = Florida. I figure they have about $1000-1200 in dealer fees bundled with this. But they are also running a $1000 Black Friday promotional credit which we weren't anticipating, which cover the fees and bring us still up to invoice, so I don't think it's too bad.

After my earlier post, I did some research on lease calculations and put together a spreadsheet so I can dynamically calculate them as needed (lease terms to payments and vice versa). When I ran the numbers on my lease, I came up with $323.16 before tax. I also ran the other various lease options (terms and cash down) they presented, and ALL of them were way off. So I tried to figure out what the discrepancy was. The only thing that made sense was a higher MF, so I ran some numbers and it looks like they were going with about .0021, which equates to just over 5%. This was not what we discussed, and certainly not inline with our credit (granted, we haven't run it yet as this was just estimates under the assumption we were top tier). Either that or a general mistake in the overall numbers. But based on your feedback and my research, I'm sure something is wrong (whether accidentally or deceptively is TBD).

I ran the numbers again with a selling price of $37,100 (which is what they had agreed to after the paperwork), with no money down but us covering the taxes/fees (which are about $2300 anyway) and I come up with a pre-tax payment of $371.55 and $395.70 after taxes. Based on your earlier comment, we may go with that.

Another thing we were thinking about was possibly 15k miles, since that would give us some breathing room and let us take it out more without worrying. Do you know what the residual is for that? They said the 12k was 63%, is that accurate?

I already sent the sales agent an email last night letting him know that the math was wrong and we would need to resolve that before proceeding. Assuming I get it fixed, we'll buy the car. Regarding the overnight take home, that was my idea. I know it's a sales tactic, but I wanted to give us time to play with the car and make sure we liked it. I have zero problem handing the keys back to them and walking away if the deal isn't right. If anything, the extra 150 or so miles might be on my side as a better incentive for them to sell it to me .

Thanks again.

kyfdx

enki941 said:

Michaell said:

We don't recommend putting money down on a lease - if the car is stolen or totaled, you are out that money.

Second, what state is this? Lease tax obligations vary greatly based on where you live.

$925 is the acquisition fee - marked up $200. $799 is the dealer fee - pure profit (Florida?).

Base MF is .00130 this month. Usi8ng your MSRP and net selling price of $37,600 (before the fees, etc), I get a pre-tax payment of $385.02/mo for 39 months.

The dealer is using the "puppy dog close" on you. They figure if you have the car for 12-24 hours, you won't want to give it back and may be willing to sign a less than great deal.

Thanks for the feedback. I had thought that putting money down to lower the cap cost was a standard practice to get a better rate. Should I try to negotiate this out? I assume you're saying to pay the taxes and fees in cash, but finance the full amount of the vehicle?

You guessed correctly = Florida. I figure they have about $1000-1200 in dealer fees bundled with this. But they are also running a $1000 Black Friday promotional credit which we weren't anticipating, which cover the fees and bring us still up to invoice, so I don't think it's too bad.

After my earlier post, I did some research on lease calculations and put together a spreadsheet so I can dynamically calculate them as needed (lease terms to payments and vice versa). When I ran the numbers on my lease, I came up with $323.16 before tax. I also ran the other various lease options (terms and cash down) they presented, and ALL of them were way off. So I tried to figure out what the discrepancy was. The only thing that made sense was a higher MF, so I ran some numbers and it looks like they were going with about .0021, which equates to just over 5%. This was not what we discussed, and certainly not inline with our credit (granted, we haven't run it yet as this was just estimates under the assumption we were top tier). Either that or a general mistake in the overall numbers. But based on your feedback and my research, I'm sure something is wrong (whether accidentally or deceptively is TBD).

I ran the numbers again with a selling price of $37,100 (which is what they had agreed to after the paperwork), with no money down but us covering the taxes/fees (which are about $2300 anyway) and I come up with a pre-tax payment of $371.55 and $395.70 after taxes. Based on your earlier comment, we may go with that.

Another thing we were thinking about was possibly 15k miles, since that would give us some breathing room and let us take it out more without worrying. Do you know what the residual is for that? They said the 12k was 63%, is that accurate?

I already sent the sales agent an email last night letting him know that the math was wrong and we would need to resolve that before proceeding. Assuming I get it fixed, we'll buy the car. Regarding the overnight take home, that was my idea. I know it's a sales tactic, but I wanted to give us time to play with the car and make sure we liked it. I have zero problem handing the keys back to them and walking away if the deal isn't right. If anything, the extra 150 or so miles might be on my side as a better incentive for them to sell it to me .

Thanks again.

They are adding $200 to the base acq.fee
Bumping the MF from .00130 to .00170
Adding a massive $800 dealer fee...

So, at least $1000 extra on your deal, plus a money factor markup that adds another $30/mo. to the payment...

Tax: Any money paid upfront has to be taxed upfront, as it's been removed from the monthly payment... (doesn't apply to non-taxable government fees, but does apply to acquisition fees and dealer fees, plus cap cost reductions)

enki941

kyfdx said:

They are adding $200 to the base acq.fee
Bumping the MF from .00130 to .00170
Adding a massive $800 dealer fee...

So, at least $1000 extra on your deal, plus a money factor markup that adds another $30/mo. to the payment...

Tax: Any money paid upfront has to be taxed upfront, as it's been removed from the monthly payment... (doesn't apply to non-taxable government fees, but does apply to acquisition fees and dealer fees, plus cap cost reductions)

So we went back this morning to the dealership to work out the financing. I had spoken to the sales guy earlier and explained my calculations and let him know that I wasn't going to pay an exorbitant finance fee just because I got the car for less. I also let him know I wanted to look at a 39/15k lease with zero down, but paying off all the fees in cash (~$2300). After we arrived and sat down to crunch numbers, the finance guy comes over and tries another BS monthly payment offer. So I break out the spreadsheet and start running the numbers and explain how his numbers don't add up. Eventually, I get him to admit that they are NOT using the base (0.0013) rate. He says they only do that on promotions... He says he'll be right back and speaks to the manager. He comes back a few minutes later with some new projections. Again, they are too high. He said they were using a .0019 rate, as this is what they customarily do, but would knock it down to .0017 for me. But again, the numbers don't add up even with his figures, as he wanted $455/month for $37,100 at 39/15k with $0 down (which is what I decided to go with in regards to terms). I came up with $444 or something like that. In the end, I finally said that my numbers show $416.93 (6.5% tax inclusive) on that lease rate at 0.0013. I would come up to $425/month, which would make it about 0.0014, but wouldn't go any higher. The finance guy says the manager won't go for it and walks away. My wife and I decide it isn't worth it so we get up and start walking out. I'm not sure if the finance guy meant he was going to check (it was kind of hard to understand him), but just as we get to the door the sales manager comes over and asks what he can do to help. I say once again that I know the numbers and the most I'm doing is $425. He says to give him a second, goes and has a group talk, then comes back and agrees. So after a lot of wasted time, we end up getting:

MSRP: $40950
Negotiated Sale Price: $37100
Residual: $24979.50
Taxes and Fees: About $2200
$0 Down
Money Factor: ~0.0014
39 Months @ 15k Miles/Year for $399 ($425 inc tax).

Their fees were a bit high (yay Florida) and I ended up paying about $8/month more than I wanted, but we did get a very good deal on the car, even after fees, so I think it was a good decision. Oh, on top of that, when we went through the financing portion at the end (signing, etc.), the finance manager said he would include the key coverage for free by knocking down the price of the car to the equivalent cost, which took about $350 more off. Since the keys are $500 and this has no deductible and covers damage and loss, it's probably a nice add-on (especially for free). Helps to make up for the $315 more we're paying in finance over the course of the lease.

In the end, we're very happy with the car, but I was a bit put off by the finance tactics. I'm not sure if this is normal or not for BMW, but they seemed to try and be deceptive in their pricing. They flat out told me it was at the base rate, and were only honest after I called them on it. We argued over it quite a bit, but my wife and I battled through it and are good to go now. I didn't really want to walk away, but we were going to if they didn't meet our price. Glad it worked out and we're a member of the Bimmer Club now!