Monthy payment calculation

MonteporaMontepora njMember Posts: 15
edited November 2018 in BMW
Dealer quoted $899 month but I cannot get the same $$ based on the following. Can someone help me understand how to calculate monthly payment based on the following? Thx.

63,945 MSRP

$58,720 Sales price

$2,274 NJ sales tax

$925 Lease acquisition fee

$699 Dealer Doc fee

$310 NJ Registration



$62,928 Adjusted Cap cost

$37,088 Residual



0.00182 Money Factor
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Comments

  • MonteporaMontepora njMember Posts: 15
    I forgot to mention that I rolled everything into cap cost and will only be making first month payment. Can someone itemized the $899 dealer quote for me?
  • kyfdxkyfdx Moderator Posts: 210,201
    Montepora said:

    I forgot to mention that I rolled everything into cap cost and will only be making first month payment. Can someone itemized the $899 dealer quote for me?

    What is the term and mileage allowance?
    The residual doesn't match up with the MSRP. Is it a service loaner with existing mileage?
    Did they tell you they used .00182 for the money factor?

    2018 or 2019?

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  • MonteporaMontepora njMember Posts: 15
    kyfdx said:

    Montepora said:

    I forgot to mention that I rolled everything into cap cost and will only be making first month payment. Can someone itemized the $899 dealer quote for me?

    What is the term and mileage allowance?
    The residual doesn't match up with the MSRP. Is it a service loaner with existing mileage?
    Did they tell you they used .00182 for the money factor?

    2018 or 2019?
    This is for a 2019 X5 xDrive40i. THe term is 36/12K. I leased a X5 from them and the lease will end soon so they send me this offer. I am not sure what they used for MF other than what they quoted me.

  • kyfdxkyfdx Moderator Posts: 210,201
    Montepora said:

    kyfdx said:

    Montepora said:

    I forgot to mention that I rolled everything into cap cost and will only be making first month payment. Can someone itemized the $899 dealer quote for me?

    What is the term and mileage allowance?
    The residual doesn't match up with the MSRP. Is it a service loaner with existing mileage?
    Did they tell you they used .00182 for the money factor?

    2018 or 2019?
    This is for a 2019 X5 xDrive40i. THe term is 36/12K. I leased a X5 from them and the lease will end soon so they send me this offer. I am not sure what they used for MF other than what they quoted me.

    .00182 MF and 58% residual

    The calculated payment is correct, given that adjusted CAP cost, and only 1st payment at signing.
    Those are all normal charges for NJ, though that dealer fee is rather high at $699.
    The discount is a little more than 8% off MSRP, which is decent.

    The money factor used is indeed .00182, which is good.

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  • MonteporaMontepora njMember Posts: 15
    Thanks. Do you think there are more room to negotiate? I am thinking of 10% off MSRP. Am I asking too much?
  • kyfdxkyfdx Moderator Posts: 210,201
    Montepora said:

    Thanks. Do you think there are more room to negotiate? I am thinking of 10% off MSRP. Am I asking too much?

    I don't know what they sell for.
    You can research pricing, here:
    https://www.edmunds.com/tmv.html

    But, the only way to lower the payment is with a lower selling price.

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  • MonteporaMontepora njMember Posts: 15
    thank you.
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