Leasing a demo 2018 BMW X1 in FL

kickboxrkickboxr Member Posts: 1
edited April 2019 in BMW
something seems amiss. looking for advice on a dealer demo that is CPO

2018 BMW X1 sDrive2.8i
Mileage - 6600
MSRP - $42,245
Sale Price - $31,499
Doc Fee - $795
Tax - $60.30
Non Tax fee - $200
Adj Cap Cost $32,620
Lease 24 months at 15,000 miles per
Residual = $21,380
money factor = .0021
state tax rate 6% plus 1% on county for 7% total

dealer says $715 per month and I cannot back into that number
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Answers

  • MichaellMichaell ColoradoModerator Posts: 206,498
    kickboxr said:

    something seems amiss. looking for advice on a dealer demo that is CPO

    2018 BMW X1 sDrive2.8i
    Mileage - 6600
    MSRP - $42,245
    Sale Price - $31,499
    Doc Fee - $795
    Tax - $60.30
    Non Tax fee - $200
    Adj Cap Cost $32,620
    Lease 24 months at 15,000 miles per
    Residual = $21,380
    money factor = .0021
    state tax rate 6% plus 1% on county for 7% total

    dealer says $715 per month and I cannot back into that number

    Probably because you aren't adjusting the residual for the miles.

    .00177 and 62% for 24/15
    But, subtract 6% and $1650 from the residual to account for the miles.
    And, you don't qualify for the incentives

    You may need a bigger discount from sticker to make it work.

    Two suggestions:
    1. Go with 36 month term
    2. Find a loaner with less than 5000 miles on it; you only take the .25/mile hit for those

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