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Car Buying Advice - 2017 BMW 540i xDrive Lease Quote

revisionsrevisions Posts: 2
edited June 2017 in BMW
Hello all!

I'm new here and I wanted to first express how grateful I am for all the information I've found on this website. I'd like to ask advice on whether or not I should pull the trigger on this deal.

I have attached a screen shot of my lease calculator.

Thanks in advance!

https://lh3.googleusercontent.com/-cmOgzQCMJjg/WUsRYbWWJhI/AAAAAAAA85A/PSa9lJQQYhwoxgYAMtFPPPqesacgFGfzQCL0BGAYYCw/h2048/5970892198856112452%3Faccount_id%3D04

In case some may not want to click the link here's what I have so far:

MSRP $66085
Selling Price $61050
Rebates $2000
Net Cap Cost: $59,050

Money Factor: .00150
Residual: $40,312 @ 61%
Lease Term: 36 Months

Monthly Payment: $669.54
Acquisition Fee: $925
Doc Fee: $350
DMV Fees: $563.67
Sales Tax ([email protected]%) $1914.04
Total Due at Signing: $4422.25

Note: Taxes are paid upfront and not rolled into monthly payment.

Comments

  • BlakeBlake Posts: 63
    Hello @revisions,

    What options and color are on this 5 series? I would like to appraise it using Edmunds True Market Value. Edmunds True Market value or TMV pricing is a powerful tool that helps shoppers get a good deal on a new or used car. Based on actual sales data, TMV is a guide to what other people in your area paid for the same car. You can build, price and obtain TMV on any car with the link below.

    https://www.edmunds.com/tmv.html

    The only thing I see that is wrong on this quote is the residual. The residual should be 62% for 36 months and 10K miles a year. The rest of the deal appears to be fair and correct but I would like to check the average selling price vs the price they offered you.

    Please feel free to let me know if you have any questions.

    Thanks!
  • revisionsrevisions Posts: 2
    Hi @blakelaclair, I believe the residual is correct as this is a 36 month / 12,000 mile lease term. I have attached a picture of the car's options.
  • BlakeBlake Posts: 63
    Hello @revisions Thanks for the updated information. You are correct, the residual is 61% for 36 months and 12K miles a year, it is 62% for 10K miles a year. I appraised the 5 Series using TMV. According to TMV the average price paid is $62,590 before rebates are applied. Their price of $59,050 with the rebates is a great deal!

    I personally do not see anything that would stop me from signing the paperwork on this lease. Please feel free to let me know if you have any questions.

    Thanks!
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