53820 MSRP 47900 sell price. Money factor of .00082 with 7 MSD. 58% Residual. I will pay the fees and state taxes upfront
10k/36month. $556.69 month
Does the payment sound right? I ran it through a lease calc and not sure if I did anything wrong but came up with something in the 528 range?
I get $528/mo as well with those prices.
Confirm the net cap cost - something may be hidden in the number the dealer is using.
I will. I just emailed.
The info I got from them was The MSRP on the car is $53820 and the sell price is $47900. I will post what they say. Hopefully it was just a calc error since I asked him to change some numbers so i can pay the sales tax upfront instead of building it into the lease.
I found out what the dealer is doing. I kept getting letters saying I can do the pull ahead program but my car is up in April and not March so they are telling me they cannot do that and they could only absorb some of the payments. That is not acceptable to me so I am either going to wait or just find a different car to go into. That is why the payments were higher.
I found out what the dealer is doing. I kept getting letters saying I can do the pull ahead program but my car is up in April and not March so they are telling me they cannot do that and they could only absorb some of the payments. That is not acceptable to me so I am either going to wait or just find a different car to go into. That is why the payments were higher.
Waiting a month or two until you are in the 'pull ahead' window makes the most sense.
53820 MSRP roughly $47275 sell price. Money factor of .00082 with 7 MSD. 58% Residual. I will pay the fees and state taxes upfront. Looks like it is about 12.5 to 13% off MSRP
I got them to absorb the entire car lease that was left. I also got some more money knocked off to get it for 510.00 instead of the original 556.69 Cold Weather Package Premium Package Technology Package Driver Assistance Pkg Driver Assistance Plus Lighting Package Black Sapphire
53820 MSRP roughly $47275 sell price. Money factor of .00082 with 7 MSD. 58% Residual. I will pay the fees and state taxes upfront. Looks like it is about 12.5 to 13% off MSRP
I got them to absorb the entire car lease that was left. I also got some more money knocked off to get it for 510.00 instead of the original 556.69 Cold Weather Package Premium Package Technology Package Driver Assistance Pkg Driver Assistance Plus Lighting Package Black Sapphire
53820 MSRP roughly $47275 sell price. Money factor of .00082 with 7 MSD. 58% Residual. I will pay the fees and state taxes upfront. Looks like it is about 12.5 to 13% off MSRP
I got them to absorb the entire car lease that was left. I also got some more money knocked off to get it for 510.00 instead of the original 556.69 Cold Weather Package Premium Package Technology Package Driver Assistance Pkg Driver Assistance Plus Lighting Package Black Sapphire
Congrats! Enjoy the new X3.
Just got my payment down to 499 per month and saved a little on the fees as well.
52020 MSRP 47440 sell price. Not sure about the money factor and residual
10k/36month. $5000 down payment $561/month after tax (tax is 9.8%)
Does the payment sounds right? This is my first time leasing and any help will be appreciated
What is the downpayment for? I would never put a down payment on a lease unless it is a MSD which you do get back at the end of the lease. Are you building the taxes into the lease or paying them up front?
i am looking at an identically equipped X3, with MSRP of $53,820. Dealer adds a $539 admin fee on top of that. Would sell car to me after discounts and incentives for 49,211, prior to 3% states sales tax. Your sales price of 47,275 is great. Do you mind sharing where you are (i don't know if you can private message me or not). I am in Greensboro NC.
If I lease, they quoted me an additional BMW finance charge of $925, and for an initial payment of $1,000, my lease payments for a 36month 10K miles would be $662.63 before tax, $682.51 after tax. My initial payment would be a lease payment for $682, the $539 admin fee to dealer, tags and registration, and some taxes. Total of $1,365 inception fees. I'd pay $1,000 and get a $1,000 incentive credit, so the credit balance of $634 goes towards my cap cost. They're giving me a $4,147 discount (off of MSRP) but then adding the extra $925 leasing fee. He told me this was a money factor of .00171 and that that was standard, that i couldn't get it lower. The residual is 31,215 which is .58 of MSRP.
MSRP 53820 Discount (4147) Finance fee 925 Net cap cost reduction (634) (above) Net cap cost 50,066
Residual 31,250
Lease payments for 36 mo / 10 K; 523.64 depreciation, 138.99 lease charge, 19.88 tax = 682.51
Does this sound like a fair deal? I was thinking it was but seeing your post of a sale price of approx $2,000 less than what they're quoting me makes me think it might not be. And I don't understand what MSD's are and the way you use them to buy down the money factor (whatever that means - how does that relate to an effective interest rate?)
I'm a rookie with this, so thanks for any help with explanations and advice.
i am looking at an identically equipped X3, with MSRP of $53,820. Dealer adds a $539 admin fee on top of that. Would sell car to me after discounts and incentives for 49,211, prior to 3% states sales tax. Your sales price of 47,275 is great. Do you mind sharing where you are (i don't know if you can private message me or not). I am in Greensboro NC.
If I lease, they quoted me an additional BMW finance charge of $925, and for an initial payment of $1,000, my lease payments for a 36month 10K miles would be $662.63 before tax, $682.51 after tax. My initial payment would be a lease payment for $682, the $539 admin fee to dealer, tags and registration, and some taxes. Total of $1,365 inception fees. I'd pay $1,000 and get a $1,000 incentive credit, so the credit balance of $634 goes towards my cap cost. They're giving me a $4,147 discount (off of MSRP) but then adding the extra $925 leasing fee. He told me this was a money factor of .00171 and that that was standard, that i couldn't get it lower. The residual is 31,215 which is .58 of MSRP.
MSRP 53820 Discount (4147) Finance fee 925 Net cap cost reduction (634) (above) Net cap cost 50,066
Residual 31,250
Lease payments for 36 mo / 10 K; 523.64 depreciation, 138.99 lease charge, 19.88 tax = 682.51
Does this sound like a fair deal? I was thinking it was but seeing your post of a sale price of approx $2,000 less than what they're quoting me makes me think it might not be. And I don't understand what MSD's are and the way you use them to buy down the money factor (whatever that means - how does that relate to an effective interest rate?)
I'm a rookie with this, so thanks for any help with explanations and advice.
I am located in NY but leasing out of NJ so that I could put down Multiple Security deposits. The base rate at least here is .00131 (3.1) and not .00171 (4.1%). With my Multiple Security deposit my interest rate went down to .00082 (1.9%)
Those numbers seem high for an identical car in my opinion.
The multiple security deposit (MSD) So in NJ I can do 7 MSDs. Each one lowers the money factor by about .0007 I believe. It lowered my payments nearly 40-50 dollars a month and at the end of the lease term I can get the money back. Each payment is rounded to the nearest 50.00. If your lease is going to cost $525.00 a month you would give them 550 for each one. 550 X 7 MSD = 3850 I would let BMW hold onto. If your state allows you do that I would jump on it.
thank you for explanation. i am not familiar with MSD's but will ask. If i can ask, how much did you have to pay in fees above the discounted MSRP (the 53,820 down to 47,250). Taxes aren't really relevant, since that's by state and unavoidable (in NC they are 3%), but my dealer adds a $539 admin fee. I actually think that's okay, but only depending on how much they discount the MSRP by.
The sales manager did tell me the interest rate was effectively a bit over 4%, which you confirmed at 4.1%
Did you research the Driver Assistance Plus package much? I haven't been able to find much on it other than the Blind Spot assistance is really helpful. But wondering if that alone makes the complete package worth it. Wondering if that's something you really wanted or if you just took it because it was on the car that you wanted and could work a deal on.
thank you for explanation. i am not familiar with MSD's but will ask. If i can ask, how much did you have to pay in fees above the discounted MSRP (the 53,820 down to 47,250). Taxes aren't really relevant, since that's by state and unavoidable (in NC they are 3%), but my dealer adds a $539 admin fee. I actually think that's okay, but only depending on how much they discount the MSRP by.
The sales manager did tell me the interest rate was effectively a bit over 4%, which you confirmed at 4.1%
Did you research the Driver Assistance Plus package much? I haven't been able to find much on it other than the Blind Spot assistance is really helpful. But wondering if that alone makes the complete package worth it. Wondering if that's something you really wanted or if you just took it because it was on the car that you wanted and could work a deal on.
This is my fees on my previous offer. I don't have the new figures in front of me but it was a bit cheaper
First Payment: $510.00 + Security: $3,850.00 (MSD Refundable after lease) + Cap Red: $0.00 + Rebate Cap Red: $1,000.00 + Tax on Cap Red: $86.25 + Upfront Sales Tax: $1,583.55 (NY State sales tax) + Acquisition Fee: $925.00 + Doc Fee: $369.00 + DMV Fees: $345.00 + Tire Fee: $6.00 + File Fee: $0.00 + Other Fees: $0.00 + Tax on Fees: $111.61 - Rebate: $1,000.00 = Cash Due on Lease: $7,786.41 - Trade Equity to COD: $0.00 = Total Cash Due: $7,786.41 - Deposit: $0.00 = Cash on Delivery: $7,786.41
Thanks for suggestion of asking about MSD's. My dealer will take up to 7 of them, at $700 each.
For a 2016 X3 with options that take the MSRP to $53,820, i can put zero down to drive it off the lot, on a 36 month 10K miles/year lease, and pay $713/month. Residual is .58 of the MSRP, or $31,250. Total $8,556/year, or total during lease of $24,955 (35 payments)
If I paid in 7 MSD at $700 each, or $4,900, that brings down my payments to $671/month. Saves $42/month, or $504/year. That is effectively a 10.3% return on their holding the $4,900, which sounds like a good deal. Has anyone ever run into issues getting back security deposits?
This is all new to me but that seems like a decent deal. Would appreciate any thoughts. Thank you.
when i just asked dealer about difference in security deposit amounts, he said that it's based on the lease payment, rounding up to nearest $50. So with 7 MSD's, my new payment would be $671, so my deposits would be $700 each.
The example above had lease payments of $510 so rounded up to nearest $50, MSD's would be $550 each.
Can anyone here verify if they know his answer to be correct? Sounds logical.
when i just asked dealer about difference in security deposit amounts, he said that it's based on the lease payment, rounding up to nearest $50. So with 7 MSD's, my new payment would be $671, so my deposits would be $700 each.
The example above had lease payments of $510 so rounded up to nearest $50, MSD's would be $550 each.
Can anyone here verify if they know his answer to be correct? Sounds logical.
The method for determining the size of each security deposit is as described by the dealer ... monthly payment, rounded up to the next $50.
Thanks for suggestion of asking about MSD's. My dealer will take up to 7 of them, at $700 each.
For a 2016 X3 with options that take the MSRP to $53,820, i can put zero down to drive it off the lot, on a 36 month 10K miles/year lease, and pay $713/month. Residual is .58 of the MSRP, or $31,250. Total $8,556/year, or total during lease of $24,955 (35 payments)
If I paid in 7 MSD at $700 each, or $4,900, that brings down my payments to $671/month. Saves $42/month, or $504/year. That is effectively a 10.3% return on their holding the $4,900, which sounds like a good deal. Has anyone ever run into issues getting back security deposits?
This is all new to me but that seems like a decent deal. Would appreciate any thoughts. Thank you.
X3's are not inexpensive to lease, but almost $700/mo seems like a lot.
What is the net cap cost on this offer?
Not heard of anyone having a problem with MSD returns at lease end.
MSRP is $53,820 dealer discount of 4147.35 lease fee 925 inception fees 392 (first months lease, dealer charge of 539, taxes/tags, minus the $1,000 promotion going on now) net cap cost 51,093
residual .58, or $31,250
Was told payments would be $713/mo, for 35 months (the first month's payment is part of the inception charges. This would be with zero down)
I could pay up to 7 MSD's and get payments down to $671/month. That seems like a no-brainer to me because for tying up $4,900, i'd save $504/year, which is effectively a 10%+ return on the deposit.
i of course could put up more money and get a lower payment, but from what i've read on here, it is better to put down as little as possible since that's a sunk cost.
Have you priced it out with other dealers in the area? That seems pretty high monthly payment. 499 is my payment with the 7 MSD's and no cap cost reduction money down on the car at all other then me paying the fees and sales tax for NY
The MSRP on mine is the same as your car. I would hope the payments would be in the same general area, but it also depends on your credit level. I know my money factor was .00082 down from the base .00131. You said the dealer is giving you the standard .00171 which seems like a mark up.
MSRP is $53,820 dealer discount of 4147.35 lease fee 925 inception fees 392 (first months lease, dealer charge of 539, taxes/tags, minus the $1,000 promotion going on now) net cap cost 51,093
residual .58, or $31,250
Was told payments would be $713/mo, for 35 months (the first month's payment is part of the inception charges. This would be with zero down)
I could pay up to 7 MSD's and get payments down to $671/month. That seems like a no-brainer to me because for tying up $4,900, i'd save $504/year, which is effectively a 10%+ return on the deposit.
i of course could put up more money and get a lower payment, but from what i've read on here, it is better to put down as little as possible since that's a sunk cost.
does the dealer set the money factor or does BMW leasing set that? My dealer in NC is quoting me .00101 after the 7 MSD's but wiggam got .00082 in NJ with 7 MSD's.
How do you equate a Money factor to an effective interest rate?
if i heard him right, if i pay 7 MSD's, that knocks my money factor down by .0007, to .00101. Would make my payment then be $671/mo. But that part seems secondary to figuring out the payment without the MSD reductions (to me, that's just a calculation of how much return (savings) i get by tying up the MSD's, and it's over 10%/year)
Looks like they are likely marking up the money factor from the base .00131. After 7 MSDs, it should be .00082.
Their numbers are likely .00171 and .00122, which is maximum markup.
.00131 MF = $660/mo. .00082 MF = $620/mo.
.00171 MF = $693/mo. .00122 MF = $653/mo.
You are correct... the MSD program is a great deal.
theyd sell the car to me for $50,706 all in, and that includes just over $1,500 in state taxes. So for all fees and everything else other than state taxes, $49,200, which reasonabl, although not exceptional. But I'd rather lease it.
The money factor sounds high to me. So the dealer sets that? I've told them I have over 800 credit score
Other state dealers aren't giving me as big a discount as my local one is. I am a repeat BMW buyer with them here so I'm expecting them to give me a solid deal.
I'm going to tell the dealer that I understand that the base money factor should be .00131 prior to MSD reduction. That with my credit I'd expect the best MF they can offer.
Being a repeat customer with them, it's the principle of it with me in addition to the savings
"Just got my payment down to 499 per month and saved a little on the fees as well."
Wiggum, do you mind sharing your updated numbers with me? Your numbers at the $510 payment end up being net several thousand dollars less than mine, over the three years. So I'm even more interested in your being down to $499. I'd like to use your numbers to shop around both with my local dealer as well as other dealers in North Carolina. (Plus, your taxes in NJ are higher than mine in North Carolina)
I'm not sure if we have the exact same options on the car but i'm guessing we do since the MSRP on both is identical at $53,820
I'm going to tell the dealer that I understand that the base money factor should be .00131 prior to MSD reduction. That with my credit I'd expect the best MF they can offer.
Being a repeat customer with them, it's the principle of it with me in addition to the savings
The markups have nothing to do with your credit. Just extra profit for the dealer. .00040 is the maximum markup allowed by BMWFS
Ok. With great input from here, I've called around again, but this time speaking knowledgable, and have gotten the following offer from a dealer in Raleigh.
2016 xDr28i no need to go through all of the packages. has all that i wanted except does not have Lighting Package but does have XLine, which i wasn't going to go for. But i can live with both changes.
MSRP 54,420 Invoice 50,700 (so I'm told)
Will lease to me for invoice - 1000 existing BMW owner - 1000 current lease incentive. $48,700 prior to taxes and registration. .58 residual factor on a 36 month / 30,000 mile lease.
With 7 MSD's of $550 each, cash due at closing of $6,454. So 3850 MSD and $2,604 first month payment, taxes, registration, cap cost reduction to get security deposit down to $550 each.
Lease payments would be $549 each.
So at the end of the lease, I would have spent $21,819 ($2,604 nonrefundable cash at closing, plus $549 * remaining 35 payments)
That seems to be pretty good and more comparable to wiggum's great deal referenced above (he's at roughly $500 for 35 months plus $3936 nonrefundable cash at closing, for total of $21,436, but for a car with a sticker of $600 less than this one)
is it reasonable to expect a dealer to sell at less than invoice? They're quoting me invoice, then minus the 1,000 + 1,000.
Ok. With great input from here, I've called around again, but this time speaking knowledgable, and have gotten the following offer from a dealer in Raleigh.
2016 xDr28i no need to go through all of the packages. has all that i wanted except does not have Lighting Package but does have XLine, which i wasn't going to go for. But i can live with both changes.
MSRP 54,420 Invoice 50,700 (so I'm told)
Will lease to me for invoice - 1000 existing BMW owner - 1000 current lease incentive. $48,700 prior to taxes and registration. .58 residual factor on a 36 month / 30,000 mile lease.
With 7 MSD's of $550 each, cash due at closing of $6,454. So 3850 MSD and $2,604 first month payment, taxes, registration, cap cost reduction to get security deposit down to $550 each.
Lease payments would be $549 each.
So at the end of the lease, I would have spent $21,819 ($2,604 nonrefundable cash at closing, plus $549 * remaining 35 payments)
That seems to be pretty good and more comparable to wiggum's great deal referenced above (he's at roughly $500 for 35 months plus $3936 nonrefundable cash at closing, for total of $21,436, but for a car with a sticker of $600 less than this one)
is it reasonable to expect a dealer to sell at less than invoice? They're quoting me invoice, then minus the 1,000 + 1,000.
Looks like a solid deal.
Can't help you within pricing .. I've never shopped in that price range.
could anyone verify the calculation of below lease terms (36/10k) :
2016 BMW X3 xDrive28i MSRP $53,995 Selling Price $47,995 MSD Tier 1 plus credit score 0.00082 Total Security Deposit $4,550 Total Drive Off only plus security deposit $5,667.60 Monthly lease payment $555.44+tax
My own calculation gives 528 before tax but dealer keeps saying they are correct. I used residual of 58%. Can dealer mark up residual? they did not specify residual in quotes.
could anyone verify the calculation of below lease terms (36/10k) :
2016 BMW X3 xDrive28i MSRP $53,995 Selling Price $47,995 MSD Tier 1 plus credit score 0.00082 Total Security Deposit $4,550 Total Drive Off only plus security deposit $5,667.60 Monthly lease payment $555.44+tax
My own calculation gives 528 before tax but dealer keeps saying they are correct. I used residual of 58%. Can dealer mark up residual? they did not specify residual in quotes.
thanks
Ask for the adjusted CAP cost. One thing I see missing is the $925 acquisition fee.
Thanks to all here who helped me save a lot of money on my lease. I finalized what I think is a great deal, with virtually all of the options i wanted.
2016 x3 x28i MSRP $53,820 Dealer discount, including $1,000 BMW loyalty credit: ($5,765) Lease fee 925 Taxes 128.95 (North Carolina. More taxes are part of each lease payment) Tag/title 68 Dealer admin charge 539 Leasing credit (1,000) Total cost: 48,715
36 month, 30,000 miles Residual .58: $31,250
Base money factor of standard .00131. Told him i wanted to do 7 MSD's to get money factor to .00082 $3,000 cash at closing / cap cost reduction to get payments down to under $500 Additional $3,500 at closing in MSD's to get the .00082 MF 35 remaining monthly payments of $498 each, including state taxes
Total net cash out of pocket at end of lease: $20,430. On Monday, they had quoted me terms which would have made my total net cash out of pocket initially and over the lease term be over $24,800. I sensed initially that he wasn't giving me a great deal but had no idea how much could still be taken out.
This board was great letting me know what others (particularly wiggum40, who got an identical car just two weeks ago) were able to negotiate. I also found this site really helpful to better understand leases and the terminology: http://f80.bimmerpost.com/forums/showthread.php?t=1084623 I'd recommend it for any newbies trying to understand leasing, particularly BMW's. I think i surprised my dealer when I went back to him fully knowledgable, versus the baby just out of the womb person he thought he had on the hook on Monday. I now feel like a PhD grad student.
Thanks to all here who helped me save a lot of money on my lease. I finalized what I think is a great deal, with virtually all of the options i wanted.
2016 x3 x28i
MSRP $53,820
Dealer discount, including $1,000 BMW loyalty credit: ($5,765)
Lease fee 925
Taxes 128.95 (North Carolina. More taxes are part of each lease payment)
Tag/title 68
Dealer admin charge 539
Leasing credit (1,000)
Total cost: 48,715
36 month, 30,000 miles
Residual .58: $31,250
Base money factor of standard .00131. Told him i wanted to do 7 MSD's to get money factor to .00082
$3,000 cash at closing / cap cost reduction to get payments down to under $500
Additional $3,500 at closing in MSD's to get the .00082 MF
35 remaining monthly payments of $498 each, including state taxes
Total net cash out of pocket at end of lease: $20,430. On Monday, they had quoted me terms which would have made my total net cash out of pocket initially and over the lease term be over $24,800. I sensed initially that he wasn't giving me a great deal but had no idea how much could still be taken out.
This board was great letting me know what others (particularly wiggum40, who got an identical car just two weeks ago) were able to negotiate. I also found this site really helpful to better understand leases and the terminology: http://f80.bimmerpost.com/forums/showthread.php?t=1084623
I'd recommend it for any newbies trying to understand leasing, particularly BMW's. I think i surprised my dealer when I went back to him fully knowledgable, versus the baby just out of the womb person he thought he had on the hook on Monday. I now feel like a PhD grad student.
Moderators - it would be a nice feature if a poster could go back later on and delete his own posts from earlier. I know i would now go back on and delete some of mine that sort of clutter the thread. Sorry for so many - but very appreciative of the help I got.
I'm planning to factory order a xDrive35i. My local dealer says the $1000 SAV Winter Adder incentive is only for cars currently on their lot. Is this true? Bmwusa.com doesn't have any qualification in the fine print for this incentive.
Has anyone gotten this incentive on a factory order?
I was wondering if there were any MF and RV for 2015 models? I went to a dealership today and was shown a Xdrive 28d and told the RV is 46% and MF is .00132. MF seems consistent with the current MF but was wondering about the 9% drop in RV based on 36 month 15k?
It it only has the lighting package and tech package . Dealer told me cars without sunroofs have lower RV, is that true?
sale price offered was 41995 and monthly payments were 715.08 with 8.375 tax rolled in. My number aSome out lower than that, only a little. The sticking point seams to be the residual.
Can you confirm that there's no loyalty discount for existing BMW owners?
I don't have any info on loyalty programs for BMW
Ok, thanks for the response.
Just FYI for others who are in the market for a lease, I found this on bmwusa.com - bmw is offering a loyalty incentive of two payment credits of $500 on the lease of an X3 (in feb 2016) http://www.bmwusa.com/standard/content/loyaltywaiver.aspx
I'm planning to factory order a xDrive35i. My local dealer says the $1000 SAV Winter Adder incentive is only for cars currently on their lot. Is this true? Bmwusa.com doesn't have any qualification in the fine print for this incentive.
Has anyone gotten this incentive on a factory order?
I was wondering if there were any MF and RV for 2015 models? I went to a dealership today and was shown a Xdrive 28d and told the RV is 46% and MF is .00132. MF seems consistent with the current MF but was wondering about the 9% drop in RV based on 36 month 15k?
It it only has the lighting package and tech package . Dealer told me cars without sunroofs have lower RV, is that true?
sale price offered was 41995 and monthly payments were 715.08 with 8.375 tax rolled in. My number aSome out lower than that, only a little. The sticking point seams to be the residual.
im in NY.
thanks for any help.
stephen
That is an accurate residual.
But, no difference in residual percentages related to sunroofs or other options.
Seems like the only way to get a lower monthly is to negotiate the selling price further (as we all know!).
Dealer kept telling me they have this one sitting on the lot because no one wants one without a sunroof and they're going to give me a deal. Then the numbers come back more than I calculated for a new X3 X drive 28i! I guess he wasn't ready to make a deal that desperately.
I figured I could get a X drive 28i with Premium, Cold Weather, Driver Assistance, Surround view, Harmon Kardon for around 577 dollars a month with MSRP of 48670, selling price at 42890 (consumer report estimated price) and 8.375% tax rolled in to the payment! I calculated that using 55% residual and .00132 MF on a 36/15K
So this offer is clearly ridiculous given the diesel one he showed me has nav and lighting but nothing else.
Comments
Confirm the net cap cost - something may be hidden in the number the dealer is using.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
The info I got from them was The MSRP on the car is $53820 and the sell price is $47900. I will post what they say. Hopefully it was just a calc error since I asked him to change some numbers so i can pay the sales tax upfront instead of building it into the lease.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
53820 MSRP roughly $47275 sell price. Money factor of .00082 with 7 MSD. 58% Residual. I will pay the fees and state taxes upfront. Looks like it is about 12.5 to 13% off MSRP
I got them to absorb the entire car lease that was left. I also got some more money knocked off to get it for 510.00 instead of the original 556.69
Cold Weather Package
Premium Package
Technology Package
Driver Assistance Pkg
Driver Assistance Plus
Lighting Package
Black Sapphire
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
52020 MSRP 47440 sell price. Not sure about the money factor and residual
10k/36month. $5000 down payment $561/month after tax (tax is 9.8%)
Does the payment sounds right? This is my first time leasing and any help will be appreciated
What is the downpayment for? I would never put a down payment on a lease unless it is a MSD which you do get back at the end of the lease. Are you building the taxes into the lease or paying them up front?
i am looking at an identically equipped X3, with MSRP of $53,820. Dealer adds a $539 admin fee on top of that. Would sell car to me after discounts and incentives for 49,211, prior to 3% states sales tax. Your sales price of 47,275 is great. Do you mind sharing where you are (i don't know if you can private message me or not). I am in Greensboro NC.
If I lease, they quoted me an additional BMW finance charge of $925, and for an initial payment of $1,000, my lease payments for a 36month 10K miles would be $662.63 before tax, $682.51 after tax. My initial payment would be a lease payment for $682, the $539 admin fee to dealer, tags and registration, and some taxes. Total of $1,365 inception fees. I'd pay $1,000 and get a $1,000 incentive credit, so the credit balance of $634 goes towards my cap cost. They're giving me a $4,147 discount (off of MSRP) but then adding the extra $925 leasing fee. He told me this was a money factor of .00171 and that that was standard, that i couldn't get it lower. The residual is 31,215 which is .58 of MSRP.
MSRP 53820
Discount (4147)
Finance fee 925
Net cap cost reduction (634) (above)
Net cap cost 50,066
Residual 31,250
Lease payments for 36 mo / 10 K; 523.64 depreciation, 138.99 lease charge, 19.88 tax = 682.51
Does this sound like a fair deal? I was thinking it was but seeing your post of a sale price of approx $2,000 less than what they're quoting me makes me think it might not be. And I don't understand what MSD's are and the way you use them to buy down the money factor (whatever that means - how does that relate to an effective interest rate?)
I'm a rookie with this, so thanks for any help with explanations and advice.
Those numbers seem high for an identical car in my opinion.
The multiple security deposit (MSD) So in NJ I can do 7 MSDs. Each one lowers the money factor by about .0007 I believe. It lowered my payments nearly 40-50 dollars a month and at the end of the lease term I can get the money back. Each payment is rounded to the nearest 50.00. If your lease is going to cost $525.00 a month you would give them 550 for each one. 550 X 7 MSD = 3850 I would let BMW hold onto. If your state allows you do that I would jump on it.
The sales manager did tell me the interest rate was effectively a bit over 4%, which you confirmed at 4.1%
Did you research the Driver Assistance Plus package much? I haven't been able to find much on it other than the Blind Spot assistance is really helpful. But wondering if that alone makes the complete package worth it. Wondering if that's something you really wanted or if you just took it because it was on the car that you wanted and could work a deal on.
First Payment: $510.00
+ Security: $3,850.00 (MSD Refundable after lease)
+ Cap Red: $0.00
+ Rebate Cap Red: $1,000.00
+ Tax on Cap Red: $86.25
+ Upfront Sales Tax: $1,583.55 (NY State sales tax)
+ Acquisition Fee: $925.00
+ Doc Fee: $369.00
+ DMV Fees: $345.00
+ Tire Fee: $6.00
+ File Fee: $0.00
+ Other Fees: $0.00
+ Tax on Fees: $111.61
- Rebate: $1,000.00
= Cash Due on Lease: $7,786.41
- Trade Equity to COD: $0.00
= Total Cash Due: $7,786.41
- Deposit: $0.00
= Cash on Delivery: $7,786.41
For a 2016 X3 with options that take the MSRP to $53,820, i can put zero down to drive it off the lot, on a 36 month 10K miles/year lease, and pay $713/month. Residual is .58 of the MSRP, or $31,250. Total $8,556/year, or total during lease of $24,955 (35 payments)
If I paid in 7 MSD at $700 each, or $4,900, that brings down my payments to $671/month. Saves $42/month, or $504/year. That is effectively a 10.3% return on their holding the $4,900, which sounds like a good deal. Has anyone ever run into issues getting back security deposits?
This is all new to me but that seems like a decent deal. Would appreciate any thoughts. Thank you.
The example above had lease payments of $510 so rounded up to nearest $50, MSD's would be $550 each.
Can anyone here verify if they know his answer to be correct? Sounds logical.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
What is the net cap cost on this offer?
Not heard of anyone having a problem with MSD returns at lease end.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
MSRP is $53,820
dealer discount of 4147.35
lease fee 925
inception fees 392 (first months lease, dealer charge of 539, taxes/tags, minus the $1,000 promotion going on now)
net cap cost 51,093
residual .58, or $31,250
Was told payments would be $713/mo, for 35 months (the first month's payment is part of the inception charges. This would be with zero down)
I could pay up to 7 MSD's and get payments down to $671/month. That seems like a no-brainer to me because for tying up $4,900, i'd save $504/year, which is effectively a 10%+ return on the deposit.
i of course could put up more money and get a lower payment, but from what i've read on here, it is better to put down as little as possible since that's a sunk cost.
Would appreciate hearing any suggestions.
The MSRP on mine is the same as your car. I would hope the payments would be in the same general area, but it also depends on your credit level. I know my money factor was .00082 down from the base .00131. You said the dealer is giving you the standard .00171 which seems like a mark up.
How do you equate a Money factor to an effective interest rate?
Their numbers are likely .00171 and .00122, which is maximum markup.
.00131 MF = $660/mo.
.00082 MF = $620/mo.
.00171 MF = $693/mo.
.00122 MF = $653/mo.
You are correct... the MSD program is a great deal.
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theyd sell the car to me for $50,706 all in, and that includes just over $1,500 in state taxes. So for all fees and everything else other than state taxes, $49,200, which reasonabl, although not exceptional. But I'd rather lease it.
The money factor sounds high to me. So the dealer sets that? I've told them I have over 800 credit score
Other state dealers aren't giving me as big a discount as my local one is. I am a repeat BMW buyer with them here so I'm expecting them to give me a solid deal.
I'm going to tell the dealer that I understand that the base money factor should be .00131 prior to MSD reduction. That with my credit I'd expect the best MF they can offer.
Being a repeat customer with them, it's the principle of it with me in addition to the savings
"Just got my payment down to 499 per month and saved a little on the fees as well."
Wiggum, do you mind sharing your updated numbers with me? Your numbers at the $510 payment end up being net several thousand dollars less than mine, over the three years. So I'm even more interested in your being down to $499. I'd like to use your numbers to shop around both with my local dealer as well as other dealers in North Carolina. (Plus, your taxes in NJ are higher than mine in North Carolina)
I'm not sure if we have the exact same options on the car but i'm guessing we do since the MSRP on both is identical at $53,820
Thank you (or anyone else who replies)
I got the following
Black Sapphire
Cold Weather Package
Premium Package
Technology Package
Driver Assistance Pkg (required)
Driver Assistance Plus (Req. ZDA, 609)
Lighting Package
Harman Kardon surround sound system (SOP 5/15)
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2016 xDr28i
no need to go through all of the packages. has all that i wanted except does not have Lighting Package but does have XLine, which i wasn't going to go for. But i can live with both changes.
MSRP 54,420
Invoice 50,700 (so I'm told)
Will lease to me for invoice - 1000 existing BMW owner - 1000 current lease incentive. $48,700 prior to taxes and registration. .58 residual factor on a 36 month / 30,000 mile lease.
With 7 MSD's of $550 each, cash due at closing of $6,454. So 3850 MSD and $2,604 first month payment, taxes, registration, cap cost reduction to get security deposit down to $550 each.
Lease payments would be $549 each.
So at the end of the lease, I would have spent $21,819 ($2,604 nonrefundable cash at closing, plus $549 * remaining 35 payments)
That seems to be pretty good and more comparable to wiggum's great deal referenced above (he's at roughly $500 for 35 months plus $3936 nonrefundable cash at closing, for total of $21,436, but for a car with a sticker of $600 less than this one)
is it reasonable to expect a dealer to sell at less than invoice? They're quoting me invoice, then minus the 1,000 + 1,000.
Can't help you within pricing .. I've never shopped in that price range.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
2016 BMW X3 xDrive28i
MSRP $53,995
Selling Price $47,995
MSD Tier 1 plus credit score 0.00082
Total Security Deposit $4,550
Total Drive Off only plus security deposit $5,667.60
Monthly lease payment $555.44+tax
My own calculation gives 528 before tax but dealer keeps saying they are correct. I used residual of 58%. Can dealer mark up residual? they did not specify residual in quotes.
thanks
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I just got another quote from another dealer, the 925 was listed as Cap Reduction (Cash) in Due at Signing, is this right?
36/10k x3 28i
MSRP: 51695
Selling: 45491
due at signing
1st month: 535
sd: 3850
fees&insurance: 603
upfront taxes: 87.94
cap reduction (cash): 925
total due at signing: 6001
monthly payment: 535.78 (including tax 8.75%)
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2016 x3 x28i
MSRP $53,820
Dealer discount, including $1,000 BMW loyalty credit: ($5,765)
Lease fee 925
Taxes 128.95 (North Carolina. More taxes are part of each lease payment)
Tag/title 68
Dealer admin charge 539
Leasing credit (1,000)
Total cost: 48,715
36 month, 30,000 miles
Residual .58: $31,250
Base money factor of standard .00131. Told him i wanted to do 7 MSD's to get money factor to .00082
$3,000 cash at closing / cap cost reduction to get payments down to under $500
Additional $3,500 at closing in MSD's to get the .00082 MF
35 remaining monthly payments of $498 each, including state taxes
Total net cash out of pocket at end of lease: $20,430. On Monday, they had quoted me terms which would have made my total net cash out of pocket initially and over the lease term be over $24,800. I sensed initially that he wasn't giving me a great deal but had no idea how much could still be taken out.
This board was great letting me know what others (particularly wiggum40, who got an identical car just two weeks ago) were able to negotiate. I also found this site really helpful to better understand leases and the terminology: http://f80.bimmerpost.com/forums/showthread.php?t=1084623
I'd recommend it for any newbies trying to understand leasing, particularly BMW's. I think i surprised my dealer when I went back to him fully knowledgable, versus the baby just out of the womb person he thought he had on the hook on Monday. I now feel like a PhD grad student.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Could I please have the RV and MF on a 2016 X3 28i for 36 months at both 12k and 15k?
Thanks,
SM
Add 2% for 12K
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Thank you
1. xDrive35i 36mo - 10k, 12k
2. xDrive28i 36mo - 10k, 12k
Is there a bmw loyalty discount being offered?
Thanks!
$1000 option allowance + $1000 SAV Winter Adder
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Can you confirm that there's no loyalty discount for existing BMW owners?
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Has anyone gotten this incentive on a factory order?
I was wondering if there were any MF and RV for 2015 models? I went to a dealership today and was shown a Xdrive 28d and told the RV is 46% and MF is .00132. MF seems consistent with the current MF but was wondering about the 9% drop in RV based on 36 month 15k?
It it only has the lighting package and tech package . Dealer told me cars without sunroofs have lower RV, is that true?
sale price offered was 41995 and monthly payments were 715.08 with 8.375 tax rolled in. My number aSome out lower than that, only a little. The sticking point seams to be the residual.
im in NY.
thanks for any help.
stephen
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But, no difference in residual percentages related to sunroofs or other options.
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Seems like the only way to get a lower monthly is to negotiate the selling price further (as we all know!).
Dealer kept telling me they have this one sitting on the lot because no one wants one without a sunroof and they're going to give me a deal. Then the numbers come back more than I calculated for a new X3 X drive 28i! I guess he wasn't ready to make a deal that desperately.
I figured I could get a X drive 28i with Premium, Cold Weather, Driver Assistance, Surround view, Harmon Kardon for around 577 dollars a month with MSRP of 48670, selling price at 42890 (consumer report estimated price) and 8.375% tax rolled in to the payment! I calculated that using 55% residual and .00132 MF on a 36/15K
So this offer is clearly ridiculous given the diesel one he showed me has nav and lighting but nothing else.
Thanks,
Stephen