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2015 BMW X3 Lease Questions

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Comments

  • MichaellMichaell ColoradoPosts: 114,511
    borusik83 said:

    Michaell said:

    borusik83 said:

    Hello! Looking for the January (Illinois) money factor and residual on a 2015 x3 xdrive 28i with M Sport package?

    36 months
    12K/15K miles per year

    Thanks!

    .00131 and 50% for 36/10. Add 2% for 12K.
    From reading December comments I belive residual v. was at 56% in December (for 12k) did it go down by 4%??

    Certainly looks that way.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • kyfdxkyfdx Everywhere, USAPosts: 123,000
    edited January 2015
    borusik83 said:

    Michaell said:

    borusik83 said:

    Hello! Looking for the January (Illinois) money factor and residual on a 2015 x3 xdrive 28i with M Sport package?

    36 months
    12K/15K miles per year

    Thanks!

    .00131 and 50% for 36/10. Add 2% for 12K.
    From reading December comments I belive residual v. was at 56% in December (for 12k) did it go down by 4%??


    It's 50% for 36mo, 15K/yr. Add 2% for 12K/yr..

    Typo... and, yes.... down 4% from last month.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Hi Michael

    What do you think of the following?

    2015 X3 xDrive28i w/4500 miles (manager demo)

    Navigation
    Driver Assist Package

    MSRP: $46,275
    Selling: $39,400
    Down Payment: $0
    Term: 36 months
    Monthly: $480
    12k miles a year

    Taxes and fees paid up front.

    Thanks,
    Joe
  • MichaellMichaell ColoradoPosts: 114,511
    xxjojoxx said:

    Hi Michael

    What do you think of the following?

    2015 X3 xDrive28i w/4500 miles (manager demo)

    Navigation
    Driver Assist Package

    MSRP: $46,275
    Selling: $39,400
    Down Payment: $0
    Term: 36 months
    Monthly: $480
    12k miles a year

    Taxes and fees paid up front.

    Thanks,
    Joe

    Looks good .. with the current .00131 MF and 52% residual for 36/12, I get a pre-tax payment of $509.16.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • anandksanandks Posts: 16
    hi..
    what is the money factor and residual for Jan 2015 for a X3-2015, x28i, 12k miles/36 months as well as for 15k/36 months
  • kyfdxkyfdx Everywhere, USAPosts: 123,000
    anandks said:

    hi..
    what is the money factor and residual for Jan 2015 for a X3-2015, x28i, 12k miles/36 months as well as for 15k/36 months


    .00131 MF and 52%/50% residual

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • anandksanandks Posts: 16
    what should be best sale price i should offer. I have to go out of state over 100 miles to get this car.
    my in-state BMW is acting very very pricey (as they dont have the configuration, i am looking for in stock and have to order).

    Metalic paint cost
    Premium pke
    cold weather
    drivers assistance
    x-line
    lighting pkge
    Navigation
    all season mats
    total coming to MSRP $51735. what do you think is a good buy price..
  • MichaellMichaell ColoradoPosts: 114,511
    anandks said:

    what should be best sale price i should offer. I have to go out of state over 100 miles to get this car.
    my in-state BMW is acting very very pricey (as they dont have the configuration, i am looking for in stock and have to order).

    Metalic paint cost
    Premium pke
    cold weather
    drivers assistance
    x-line
    lighting pkge
    Navigation
    all season mats
    total coming to MSRP $51735. what do you think is a good buy price..

    X3's are pretty popular but start by asking for 5-7% off sticker and see what the dealer says. It's harder to negotiate a discount on an ordered unit, however.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Hi Michaell,

    I would like your opinion on my lease offer, thanks in advance!
    Lease terms are 36 months / 10K miles, I live in the bay area of California.

    MSRP: $51,450
    Selling price: $48,125

    CA tax: $4,341.06
    Tire/Battery fee: $7
    Tag/Reg Fee: $384
    County Fee: $20
    Electronic Filing: $29
    Smog Abatement Fee: $20
    Doc Fee: $80
    Balance Due: $53,006.06

    with $3,000 cash due: $754
    with $5,000 cash due: $693
    with $7,000 cash due: $632

    Does this look right? I feel good about the selling price for bay area, but not sure about the payments. Thanks!

  • MichaellMichaell ColoradoPosts: 114,511

    Hi Michaell,

    I would like your opinion on my lease offer, thanks in advance!
    Lease terms are 36 months / 10K miles, I live in the bay area of California.

    MSRP: $51,450
    Selling price: $48,125

    CA tax: $4,341.06
    Tire/Battery fee: $7
    Tag/Reg Fee: $384
    County Fee: $20
    Electronic Filing: $29
    Smog Abatement Fee: $20
    Doc Fee: $80
    Balance Due: $53,006.06

    with $3,000 cash due: $754
    with $5,000 cash due: $693
    with $7,000 cash due: $632

    Does this look right? I feel good about the selling price for bay area, but not sure about the payments. Thanks!

    CA taxes the monthly payment, not the entire selling price, so your balance due number is incorrect. If I back out the tax, the new balance due becomes $48,665. Using the base MF of .00130 and the 36/10 residual of 53%, I calculate a pre-tax, $0 down payment of $693.06 Sales tax is then applied to that amount.

    We don't recommend making any sort of down payment on a lease - if the car is stolen or totaled, you lose that money.

    There will be some up front costs - acquisition fee ($795), first payment, etc. - but that isn't considered a down payment.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Michaell said:

    Hi Michaell,

    I would like your opinion on my lease offer, thanks in advance!
    Lease terms are 36 months / 10K miles, I live in the bay area of California.

    MSRP: $51,450
    Selling price: $48,125

    CA tax: $4,341.06
    Tire/Battery fee: $7
    Tag/Reg Fee: $384
    County Fee: $20
    Electronic Filing: $29
    Smog Abatement Fee: $20
    Doc Fee: $80
    Balance Due: $53,006.06

    with $3,000 cash due: $754
    with $5,000 cash due: $693
    with $7,000 cash due: $632

    Does this look right? I feel good about the selling price for bay area, but not sure about the payments. Thanks!

    CA taxes the monthly payment, not the entire selling price, so your balance due number is incorrect. If I back out the tax, the new balance due becomes $48,665. Using the base MF of .00130 and the 36/10 residual of 53%, I calculate a pre-tax, $0 down payment of $693.06 Sales tax is then applied to that amount.

    We don't recommend making any sort of down payment on a lease - if the car is stolen or totaled, you lose that money.

    There will be some up front costs - acquisition fee ($795), first payment, etc. - but that isn't considered a down payment.
    Thanks for the feedback Michaell! Any idea how the dealer came up with those payment amounts? Are they jacking up the MF? I emailed my sales at the dealer last night for a break down of the 3K/5K/7K cash due, but he hasn't got back to me yet. Does the $693 with $5,000 cash due makes sense to you? I just don't want to overpay, thanks Michaell!
  • kyfdxkyfdx Everywhere, USAPosts: 123,000

    Michaell said:

    Hi Michaell,

    I would like your opinion on my lease offer, thanks in advance!
    Lease terms are 36 months / 10K miles, I live in the bay area of California.

    MSRP: $51,450
    Selling price: $48,125

    CA tax: $4,341.06
    Tire/Battery fee: $7
    Tag/Reg Fee: $384
    County Fee: $20
    Electronic Filing: $29
    Smog Abatement Fee: $20
    Doc Fee: $80
    Balance Due: $53,006.06

    with $3,000 cash due: $754
    with $5,000 cash due: $693
    with $7,000 cash due: $632

    Does this look right? I feel good about the selling price for bay area, but not sure about the payments. Thanks!

    CA taxes the monthly payment, not the entire selling price, so your balance due number is incorrect. If I back out the tax, the new balance due becomes $48,665. Using the base MF of .00130 and the 36/10 residual of 53%, I calculate a pre-tax, $0 down payment of $693.06 Sales tax is then applied to that amount.

    We don't recommend making any sort of down payment on a lease - if the car is stolen or totaled, you lose that money.

    There will be some up front costs - acquisition fee ($795), first payment, etc. - but that isn't considered a down payment.
    Thanks for the feedback Michaell! Any idea how the dealer came up with those payment amounts? Are they jacking up the MF? I emailed my sales at the dealer last night for a break down of the 3K/5K/7K cash due, but he hasn't got back to me yet. Does the $693 with $5,000 cash due makes sense to you? I just don't want to overpay, thanks Michaell!

    It's way too much.. They are definitely marking up money factors and the acquisition fee..

    While they broke down the purchase price for you, when they switched to lease payments, they gave no details, whatsoever...

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Michaell said:

    Hi Michaell,

    I would like your opinion on my lease offer, thanks in advance!
    Lease terms are 36 months / 10K miles, I live in the bay area of California.

    MSRP: $51,450
    Selling price: $48,125

    CA tax: $4,341.06
    Tire/Battery fee: $7
    Tag/Reg Fee: $384
    County Fee: $20
    Electronic Filing: $29
    Smog Abatement Fee: $20
    Doc Fee: $80
    Balance Due: $53,006.06

    with $3,000 cash due: $754
    with $5,000 cash due: $693
    with $7,000 cash due: $632

    Does this look right? I feel good about the selling price for bay area, but not sure about the payments. Thanks!

    CA taxes the monthly payment, not the entire selling price, so your balance due number is incorrect. If I back out the tax, the new balance due becomes $48,665. Using the base MF of .00130 and the 36/10 residual of 53%, I calculate a pre-tax, $0 down payment of $693.06 Sales tax is then applied to that amount.

    We don't recommend making any sort of down payment on a lease - if the car is stolen or totaled, you lose that money.

    There will be some up front costs - acquisition fee ($795), first payment, etc. - but that isn't considered a down payment.
    So this is what the sales told me:

    "payment is include tax, and 3k is include first payment, DMV fees, and doc fees ."

    Hmmm...... won't tell me how much the acquisition fee is....

    What do you guys think, @kyfdx‌ @Michaell‌

    Thanks for the feedbacks!
  • kyfdx said:

    Michaell said:

    Hi Michaell,

    I would like your opinion on my lease offer, thanks in advance!
    Lease terms are 36 months / 10K miles, I live in the bay area of California.

    MSRP: $51,450
    Selling price: $48,125

    CA tax: $4,341.06
    Tire/Battery fee: $7
    Tag/Reg Fee: $384
    County Fee: $20
    Electronic Filing: $29
    Smog Abatement Fee: $20
    Doc Fee: $80
    Balance Due: $53,006.06

    with $3,000 cash due: $754
    with $5,000 cash due: $693
    with $7,000 cash due: $632

    Does this look right? I feel good about the selling price for bay area, but not sure about the payments. Thanks!

    CA taxes the monthly payment, not the entire selling price, so your balance due number is incorrect. If I back out the tax, the new balance due becomes $48,665. Using the base MF of .00130 and the 36/10 residual of 53%, I calculate a pre-tax, $0 down payment of $693.06 Sales tax is then applied to that amount.

    We don't recommend making any sort of down payment on a lease - if the car is stolen or totaled, you lose that money.

    There will be some up front costs - acquisition fee ($795), first payment, etc. - but that isn't considered a down payment.
    Thanks for the feedback Michaell! Any idea how the dealer came up with those payment amounts? Are they jacking up the MF? I emailed my sales at the dealer last night for a break down of the 3K/5K/7K cash due, but he hasn't got back to me yet. Does the $693 with $5,000 cash due makes sense to you? I just don't want to overpay, thanks Michaell!

    It's way too much.. They are definitely marking up money factors and the acquisition fee..

    While they broke down the purchase price for you, when they switched to lease payments, they gave no details, whatsoever...
    Hi @kyfdx‌, @Michaell‌,

    Got a quote from another dealer:

    MSRP $51,450
    Selling price $48,490
    Term: 36 months / 10K miles
    Located in CA, zip 94501

    $3K Drive Off / $728 including tax @ 35 Months to go
    $5K Drive Off / $668 including tax @ 35 Months to go
    $7K Drive Off / $608 including tax @ 35 Months to go

    Better? Fair? Thanks for the feedback!
  • kyfdxkyfdx Everywhere, USAPosts: 123,000

    kyfdx said:

    Michaell said:

    Hi Michaell,

    I would like your opinion on my lease offer, thanks in advance!
    Lease terms are 36 months / 10K miles, I live in the bay area of California.

    MSRP: $51,450
    Selling price: $48,125

    CA tax: $4,341.06
    Tire/Battery fee: $7
    Tag/Reg Fee: $384
    County Fee: $20
    Electronic Filing: $29
    Smog Abatement Fee: $20
    Doc Fee: $80
    Balance Due: $53,006.06

    with $3,000 cash due: $754
    with $5,000 cash due: $693
    with $7,000 cash due: $632

    Does this look right? I feel good about the selling price for bay area, but not sure about the payments. Thanks!

    CA taxes the monthly payment, not the entire selling price, so your balance due number is incorrect. If I back out the tax, the new balance due becomes $48,665. Using the base MF of .00130 and the 36/10 residual of 53%, I calculate a pre-tax, $0 down payment of $693.06 Sales tax is then applied to that amount.

    We don't recommend making any sort of down payment on a lease - if the car is stolen or totaled, you lose that money.

    There will be some up front costs - acquisition fee ($795), first payment, etc. - but that isn't considered a down payment.
    Thanks for the feedback Michaell! Any idea how the dealer came up with those payment amounts? Are they jacking up the MF? I emailed my sales at the dealer last night for a break down of the 3K/5K/7K cash due, but he hasn't got back to me yet. Does the $693 with $5,000 cash due makes sense to you? I just don't want to overpay, thanks Michaell!

    It's way too much.. They are definitely marking up money factors and the acquisition fee..

    While they broke down the purchase price for you, when they switched to lease payments, they gave no details, whatsoever...
    Hi @kyfdx‌, @Michaell‌,

    Got a quote from another dealer:

    MSRP $51,450
    Selling price $48,490
    Term: 36 months / 10K miles
    Located in CA, zip 94501

    $3K Drive Off / $728 including tax @ 35 Months to go
    $5K Drive Off / $668 including tax @ 35 Months to go
    $7K Drive Off / $608 including tax @ 35 Months to go

    Better? Fair? Thanks for the feedback!

    Lower is always better..

    But, you need details..
    Net CAP cost (with a breakdown of how you get from the selling price to this number)
    Money factor
    Residual percentage
    Stick to $3000 due at signing, so you can focus on the important numbers.

    If the dealer isn't forthcoming with this basic information, it's time to move on to another dealer.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Michaell,

    What would be a good lease offer for the following:
    X3 2015 model
    MSRP: $43850 (has Cold weather package only)
    Sell price $41880
    15k miles and 36 months lease
    I live in Michigan.

    What lease numbers would look like?

    Thank you!
  • kyfdxkyfdx Everywhere, USAPosts: 123,000
    stekicar said:

    Michaell,

    What would be a good lease offer for the following:
    X3 2015 model
    MSRP: $43850 (has Cold weather package only)
    Sell price $41880
    15k miles and 36 months lease
    I live in Michigan.

    What lease numbers would look like?

    Thank you!


    .00130 MF and 50% residual.

    $637/mo.+tax with 1st payment and fees due at signing..

    The current X3 program is terrible.. Makes an Audi Q5 look reasonable (which is rare)

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Michaell,

    How do you come up with these numbers? Can you give us an example? My numbers come as 699.99 with 6% tax. I like your numbers more ;-) !

    Thank you!
  • MichaellMichaell ColoradoPosts: 114,511
    stekicar said:

    Michaell,

    How do you come up with these numbers? Can you give us an example? My numbers come as 699.99 with 6% tax. I like your numbers more ;-) !

    Thank you!

    Lots of lease calculators on the web .. my co-host and I have built our own spreadsheets that we use.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Michaell said:

    stekicar said:

    Michaell,

    How do you come up with these numbers? Can you give us an example? My numbers come as 699.99 with 6% tax. I like your numbers more ;-) !

    Thank you!

    Lots of lease calculators on the web .. my co-host and I have built our own spreadsheets that we use.
    I also made my own excell calculations based on information from the web. I know I have to tweak a little bit my calculation so it performs more accuratelly. As I said before, my calculation show $699.99 lease payment, although dealer asked for $715.50 but she agreed to come down to $699.99. Now, your calculations show $675.22 (637.00+6% tax). I just need to verify that your calculations are valid enough before I talk to dealer again. ;-) Also, other dealer had MF set to 0.0017 (4.08%) instead of 0.0013 (3.12%) and now I will have to talk to him about this.

    Thank you!
  • MichaellMichaell ColoradoPosts: 114,511
    stekicar said:

    Michaell said:

    stekicar said:

    Michaell,

    How do you come up with these numbers? Can you give us an example? My numbers come as 699.99 with 6% tax. I like your numbers more ;-) !

    Thank you!

    Lots of lease calculators on the web .. my co-host and I have built our own spreadsheets that we use.
    I also made my own excell calculations based on information from the web. I know I have to tweak a little bit my calculation so it performs more accuratelly. As I said before, my calculation show $699.99 lease payment, although dealer asked for $715.50 but she agreed to come down to $699.99. Now, your calculations show $675.22 (637.00+6% tax). I just need to verify that your calculations are valid enough before I talk to dealer again. ;-) Also, other dealer had MF set to 0.0017 (4.08%) instead of 0.0013 (3.12%) and now I will have to talk to him about this.

    Thank you!
    Cut from my spreadsheet:

    MSRP $43,850.00 sticker price of vehicle
    Net Cap Cost $41,880.00 net capitalized cost of vehicle (add taxes + fees, subtract cap cost reduction)
    Residual 50% percentage of the MSRP that the vehicle is worth at the end of the lease
    Money Factor 0.0013 used to calculate interest paid ("rent charge") during the lease term
    Interest Rate 3.12% money factor x 2400
    Lease Term 36 length of lease, in months
    Residual Amt $21,925.00 MSRP x residual %
    Depreciation $19,955.00 total depreciation (cap cost - residual value)
    Dep Payment $554.31 amount of payment for depreciation (cap cost - residual value) / term
    Rent Charge $82.95 amount of payment for rent charge (cap cost + residual value) * money factor
    Pre-Tax Pmt $637.25 sum of depreciation and rent charge
    Sales Tax 6.00% local sales tax rate
    Tax Amt $38.24 monthly payment * tax rate
    Total Payment $675.49 monthly payment + tax amt

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • kyfdxkyfdx Everywhere, USAPosts: 123,000
    @stekicar‌

    Leave out sales tax, when calculating your lease.... then, see what you come up with.. I'm guessing some sort of input error in your calculation..

    But, do yourself a favor and wait until next month... The deals can only get better..

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Michaell said:

    stekicar said:

    Michaell said:

    stekicar said:

    Michaell,

    How do you come up with these numbers? Can you give us an example? My numbers come as 699.99 with 6% tax. I like your numbers more ;-) !

    Thank you!

    Lots of lease calculators on the web .. my co-host and I have built our own spreadsheets that we use.
    I also made my own excell calculations based on information from the web. I know I have to tweak a little bit my calculation so it performs more accuratelly. As I said before, my calculation show $699.99 lease payment, although dealer asked for $715.50 but she agreed to come down to $699.99. Now, your calculations show $675.22 (637.00+6% tax). I just need to verify that your calculations are valid enough before I talk to dealer again. ;-) Also, other dealer had MF set to 0.0017 (4.08%) instead of 0.0013 (3.12%) and now I will have to talk to him about this.

    Thank you!
    Cut from my spreadsheet:

    MSRP $43,850.00 sticker price of vehicle
    Net Cap Cost $41,880.00 net capitalized cost of vehicle (add taxes + fees, subtract cap cost reduction)
    Residual 50% percentage of the MSRP that the vehicle is worth at the end of the lease
    Money Factor 0.0013 used to calculate interest paid ("rent charge") during the lease term
    Interest Rate 3.12% money factor x 2400
    Lease Term 36 length of lease, in months
    Residual Amt $21,925.00 MSRP x residual %
    Depreciation $19,955.00 total depreciation (cap cost - residual value)
    Dep Payment $554.31 amount of payment for depreciation (cap cost - residual value) / term
    Rent Charge $82.95 amount of payment for rent charge (cap cost + residual value) * money factor
    Pre-Tax Pmt $637.25 sum of depreciation and rent charge
    Sales Tax 6.00% local sales tax rate
    Tax Amt $38.24 monthly payment * tax rate
    Total Payment $675.49 monthly payment + tax amt
    The difference was in aquisition fee. I included it in adjusted cap cost, so I was using this adjusted cap cost for calculations. Do I have to include aquisition fee in net capitalized cost of the vehicle?

    Thank you for your help.
  • kyfdx said:

    @stekicar‌

    Leave out sales tax, when calculating your lease.... then, see what you come up with.. I'm guessing some sort of input error in your calculation..

    But, do yourself a favor and wait until next month... The deals can only get better..

    I am not in a rush. I plan to get it by the end of April or May. By that time I will have my second car paid off. I started looking around and I am trying to learn everything I should know before I make an educated decision.
  • kyfdxkyfdx Everywhere, USAPosts: 123,000
    stekicar said:

    Michaell said:

    stekicar said:

    Michaell said:

    stekicar said:

    Michaell,

    How do you come up with these numbers? Can you give us an example? My numbers come as 699.99 with 6% tax. I like your numbers more ;-) !

    Thank you!

    Lots of lease calculators on the web .. my co-host and I have built our own spreadsheets that we use.
    I also made my own excell calculations based on information from the web. I know I have to tweak a little bit my calculation so it performs more accuratelly. As I said before, my calculation show $699.99 lease payment, although dealer asked for $715.50 but she agreed to come down to $699.99. Now, your calculations show $675.22 (637.00+6% tax). I just need to verify that your calculations are valid enough before I talk to dealer again. ;-) Also, other dealer had MF set to 0.0017 (4.08%) instead of 0.0013 (3.12%) and now I will have to talk to him about this.

    Thank you!
    Cut from my spreadsheet:

    MSRP $43,850.00 sticker price of vehicle
    Net Cap Cost $41,880.00 net capitalized cost of vehicle (add taxes + fees, subtract cap cost reduction)
    Residual 50% percentage of the MSRP that the vehicle is worth at the end of the lease
    Money Factor 0.0013 used to calculate interest paid ("rent charge") during the lease term
    Interest Rate 3.12% money factor x 2400
    Lease Term 36 length of lease, in months
    Residual Amt $21,925.00 MSRP x residual %
    Depreciation $19,955.00 total depreciation (cap cost - residual value)
    Dep Payment $554.31 amount of payment for depreciation (cap cost - residual value) / term
    Rent Charge $82.95 amount of payment for rent charge (cap cost + residual value) * money factor
    Pre-Tax Pmt $637.25 sum of depreciation and rent charge
    Sales Tax 6.00% local sales tax rate
    Tax Amt $38.24 monthly payment * tax rate
    Total Payment $675.49 monthly payment + tax amt
    The difference was in aquisition fee. I included it in adjusted cap cost, so I was using this adjusted cap cost for calculations. Do I have to include aquisition fee in net capitalized cost of the vehicle?

    Thank you for your help.

    It has to be added there, or paid upfront.... I like to roll it in..

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kyfdxkyfdx Everywhere, USAPosts: 123,000
    stekicar said:



    kyfdx said:

    @stekicar‌

    Leave out sales tax, when calculating your lease.... then, see what you come up with.. I'm guessing some sort of input error in your calculation..

    But, do yourself a favor and wait until next month... The deals can only get better..

    I am not in a rush. I plan to get it by the end of April or May. By that time I will have my second car paid off. I started looking around and I am trying to learn everything I should know before I make an educated decision.

    Be careful you don't get too far along... I think the 2016 model comes out early this year... But, deals will definitely get better on the 2015 than they are this month.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kyfdx said:

    stekicar said:



    kyfdx said:

    @stekicar‌

    Leave out sales tax, when calculating your lease.... then, see what you come up with.. I'm guessing some sort of input error in your calculation..

    But, do yourself a favor and wait until next month... The deals can only get better..

    I am not in a rush. I plan to get it by the end of April or May. By that time I will have my second car paid off. I started looking around and I am trying to learn everything I should know before I make an educated decision.

    Be careful you don't get too far along... I think the 2016 model comes out early this year... But, deals will definitely get better on the 2015 than they are this month.
    Thank you for the tip. I thought new model is not due in two more years.
  • kyfdx said:

    stekicar said:

    Michaell said:

    stekicar said:

    Michaell said:

    stekicar said:

    Michaell,

    How do you come up with these numbers? Can you give us an example? My numbers come as 699.99 with 6% tax. I like your numbers more ;-) !

    Thank you!

    Lots of lease calculators on the web .. my co-host and I have built our own spreadsheets that we use.
    I also made my own excell calculations based on information from the web. I know I have to tweak a little bit my calculation so it performs more accuratelly. As I said before, my calculation show $699.99 lease payment, although dealer asked for $715.50 but she agreed to come down to $699.99. Now, your calculations show $675.22 (637.00+6% tax). I just need to verify that your calculations are valid enough before I talk to dealer again. ;-) Also, other dealer had MF set to 0.0017 (4.08%) instead of 0.0013 (3.12%) and now I will have to talk to him about this.

    Thank you!
    Cut from my spreadsheet:

    MSRP $43,850.00 sticker price of vehicle
    Net Cap Cost $41,880.00 net capitalized cost of vehicle (add taxes + fees, subtract cap cost reduction)
    Residual 50% percentage of the MSRP that the vehicle is worth at the end of the lease
    Money Factor 0.0013 used to calculate interest paid ("rent charge") during the lease term
    Interest Rate 3.12% money factor x 2400
    Lease Term 36 length of lease, in months
    Residual Amt $21,925.00 MSRP x residual %
    Depreciation $19,955.00 total depreciation (cap cost - residual value)
    Dep Payment $554.31 amount of payment for depreciation (cap cost - residual value) / term
    Rent Charge $82.95 amount of payment for rent charge (cap cost + residual value) * money factor
    Pre-Tax Pmt $637.25 sum of depreciation and rent charge
    Sales Tax 6.00% local sales tax rate
    Tax Amt $38.24 monthly payment * tax rate
    Total Payment $675.49 monthly payment + tax amt
    The difference was in aquisition fee. I included it in adjusted cap cost, so I was using this adjusted cap cost for calculations. Do I have to include aquisition fee in net capitalized cost of the vehicle?

    Thank you for your help.

    It has to be added there, or paid upfront.... I like to roll it in..
    Ok. Then my mistake was to include aquisition fees twice. Thank you!
  • Hello, looking for the Illinois MF and RV for February. Thanks.
  • MichaellMichaell ColoradoPosts: 114,511
    borusik83 said:

    Hello, looking for the Illinois MF and RV for February. Thanks.

    .00130 and 58% fore 36/10. Those are the only numbers we currently have.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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