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I need some guidance on 2016 BMW lease 428xi convertible?

jeter105jeter105 Posts: 6
edited October 2015 in BMW
MSRP $60275, money out of pocket $4,331.81. My trade 2008 E350 $10,500, and Money owed on Mercedes $8,495.00= Equity $2005.00. Total $6,331.81 down. Lease is 15,000 miles, 36 months, $625.00 monthly payment. Money factor is .00134. In NJ.
Please advise, thx.


Answers

  • kyfdxkyfdx Posts: 119,942
    jeter105 said:

    MSRP $60275, money out of pocket $4,331.81. My trade 2008 E350 $10,500, and Money owed on Mercedes $8,495.00= Equity $2005.00. Total $6,331.81 down. Lease is 15,000 miles, 36 months, $625.00 monthly payment. Money factor is .00134. In NJ.
    Please advise, thx.


    To evaluate a lease, you need to know the selling price and/or CAP cost. It's good that you are getting the base MF of .00134, but $6300 is a lot to put upfront on a lease

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

    Edmunds Moderator

  • jeter105 said:
    MSRP $60275, money out of pocket $4,331.81. My trade 2008 E350 $10,500, and Money owed on Mercedes $8,495.00= Equity $2005.00. Total $6,331.81 down. Lease is 15,000 miles, 36 months, $625.00 monthly payment. Money factor is .00134. In NJ. Please advise, thx.

    jeter105 said:
    MSRP $60275, money out of pocket $4,331.81. My trade 2008 E350 $10,500, and Money owed on Mercedes $8,495.00= Equity $2005.00. Total $6,331.81 down. Lease is 15,000 miles, 36 months, $625.00 monthly payment. Money factor is .00134. In NJ. Please advise, thx.

  • MSRP is $60,275, selling price is $56,007 and cap is $2800. Also they just lowered offer to  $613 per month to try to get me to purchase. 

    Your thoughts and guidance please. 

    Thank you. 

  • Is this a good lease deal?
  • kyfdxkyfdx Posts: 119,942
    jeter105 said:

    MSRP is $60,275, selling price is $56,007 and cap is $2800. Also they just lowered offer to  $613 per month to try to get me to purchase. 

    Your thoughts and guidance please. 

    Thank you. 

    .00134 MF and 55% residual. $1000 option credit.

    So, out of your $6331 cash, $2800 is going to CAP cost reduction, with the rest for 1st payment, taxes, title/registration/doc fees, acquisition fee?

    They must be cutting that price, because the payment should be higher than that. The selling price on the original deal wasn't all that impressive, but it looks like they've taken another $2000 out of the deal to get you down to $613/mo. That's pretty good.

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

    Edmunds Moderator

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