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Help with BMW x4 lease
I am looking at a 2016 bmw x4. MSRP is 54,895. Selling price is 50,067. I plan to put 2,000 down.
We have 5% sales tax in Wisconsin, and tax is added and calculated on the monthly payment.
I am seeing a MF of 0.0013 and a residual of 57% on a 3 year 12k lease.
The dealer is quoting a monthly payment of 660. Using online lease calculators I get 600.
I am trading in a car, I owe 8500 and they are giving me 28500, so they'll give me a check for the difference. Maybe theres sales tax on that? Can't figure out what I'm missing.
We have 5% sales tax in Wisconsin, and tax is added and calculated on the monthly payment.
I am seeing a MF of 0.0013 and a residual of 57% on a 3 year 12k lease.
The dealer is quoting a monthly payment of 660. Using online lease calculators I get 600.
I am trading in a car, I owe 8500 and they are giving me 28500, so they'll give me a check for the difference. Maybe theres sales tax on that? Can't figure out what I'm missing.
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Answers
1st payment, $925 acquisition fee, title/registration.. That's not going to leave much of your $2000 for CAP reduction.
If we assume that the sale price is also the CAP cost, I get a payment of $630+tax, which is pretty close to their quote of $660. Perhaps the calculator is attributing the full $2000 to CAP cost reduction? $2000 due at signing is not the same as $2000 down payment.
Doesn't seem like your trade-in should have anything to do with sales tax on a lease.
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