Interesting... the dealer in Houston, TX told me the residual in December is 61% (drop by 2% comparing to 63% in November & October) for a lease of 24 months/10K miles per year. The dealer also quoted me 4.3% interest rate. I think this is a markup. Anyone know what the interest rate for December?
I also notice BMW Financial Service is just playing around with the numbers without giving any additional discount as it reached year end... They give you an additional $1000 cash, but take away 2% residual. When I plugged all the numbers into the formula, the total monthly payment turned out the same!
So, folks, don't be fooled by the $2000 Happier Holiday Event incentive in December (They give you $2000 more, but they decrease the residual value to 51% to balance out the $2000 incentive, and ALSO increase the lease term to 3-year). When I plugged in the numbers, it turned out to be WORSE than the October and November deals. Basically, you will end up with the same total monthly payment as November offer, but you will be locked into a 3-year contract, instead of 2-year contract. They are so sneaky !
Thanks Michaell and apologize if I'm mistaken but 30/10k residual did drop for Dec? It was 59% in Nov but I see it's 57%? (54%+3%) or am I not reading this right?
30/10 for November was 58%, so it did drop 1% in December
I was poking around Southern California dealers and one dealer said 30/10k residual is 56% and another dealer in Irvine saying 59%..I guess, I'll go with 59%~ I know they can mark up the MF but not the residual right?
The residual is set by BMWFS and cannot be altered by the dealer.
Interesting... the dealer in Houston, TX told me the residual in December is 61% (drop by 2% comparing to 63% in November & October) for a lease of 24 months/10K miles per year. The dealer also quoted me 4.3% interest rate. I think this is a markup. Anyone know what the interest rate for December?
MF did not change for December, still .00131 (3.14%). This can be marked up a max of .00040
I like to share this info with folks out there who want to maximize your savings and to help you avoid any BS from sales/dealership... Today, Austin, TX dealer just offered me a deal for the 2015 BMW i3 with Range Extender model, which I think is ridiculous, and also threw me some BS stuff...i.e. $0 sale tax... After plugging in the numbers that they provided me, it's not possible to have $0 sale tax to have $480/month (which is ridiculously high, by the way!); if $0 sale tax is truly available, it would be $370/month instead.
- Discount -5900.00 (RED FLAG: Edmund True Market Price is $7600 off MSRP) - Agree Upon Price: 48995.00 (RED FLAG: over TMP) - Sales Tax in Texas (6.25%): 2531.25 (RED FLAG: Not possible to have $0 sale tax in order to produce $480/month. If truly $0 sale tax, monthly payment would be $370 instead). - Title, Reg, Inspection Fees ($33, $50, $17): 100.00 - Documentary & Misc Fees: 200.00 (NOTE: Not required by law; but dealer can use as profit). - Gross Cap Cost: 51826.25
- Cap Reduction Cost 1 (tax credit): -7500.00 (NOTE: available nationwide) - Cap Reduction Cost 2 (Happier Holiday Adder incentive available nationwide): 0.00 (RED FLAG: dealer purposely excluded the $2000 Happier Holiday Adder incentive). - Cap Reduction Cost 3 (down payment): -840.00 (RED FLAG: dealer purposely included a down payment of $840 in the total $4800 due at signing, which I explicitly requested for $0 down). - Net Cap Cost: 43486.25
This board seems to have ground to a halt. Did the new residuals more than cancel out the $2k Happy Holiday Adder bonus and stop all deals in their tracks?
This board seems to have ground to a halt. Did the new residuals more than cancel out the $2k Happy Holiday Adder bonus and stop all deals in their tracks?
Could you help verify the monthly numbers are accurate? $1,200 is used for 1st pmt and other fees and not twd cap cost.
Using my own calculator I'm getting $183 + tax so wonder if there is the tax for the credit being added here.
Regardless a great deal...
thank you
2015 BMW i3 MSRP: 45,895 Selling Price: 38,200 Lease Credit: 7,500 30 month lease 12,000 miles per year Residual: 58% (26,619.10) Down Payment: 1,200 MSD (7): 1,750 Total Due at Signing: 2,950 Money Factor (OAC): .00082 Monthly Payment: 218.14 + tax Total Monthly Payment: 235.59 (includes 8% tax rate)
Shouldn't the 30/12k residual be 56% rather than 58%? 58% is the 24/12k residual for DEC, I think. Also, where is the Happy Holiday Adder? Did they take it off the Selling Price to get to $38.2k? If so, I think that is better for you since you don't pay tax on it there whereas you do if it is treated as a rebate.
Could you help verify the monthly numbers are accurate? $1,200 is used for 1st pmt and other fees and not twd cap cost.
Using my own calculator I'm getting $183 + tax so wonder if there is the tax for the credit being added here.
Regardless a great deal...
thank you
2015 BMW i3 MSRP: 45,895 Selling Price: 38,200 Lease Credit: 7,500 30 month lease 12,000 miles per year Residual: 58% (26,619.10) Down Payment: 1,200 MSD (7): 1,750 Total Due at Signing: 2,950 Money Factor (OAC): .00082 Monthly Payment: 218.14 + tax Total Monthly Payment: 235.59 (includes 8% tax rate)
Shouldn't the 30/12k residual be 56% rather than 58%? 58% is the 24/12k residual for DEC, I think. Also, where is the Happy Holiday Adder? Did they take it off the Selling Price to get to $38.2k? If so, I think that is better for you since you don't pay tax on it there whereas you do if it is treated as a rebate.
The 30/12 residual is indeed 56% this month. It's possible the $2000 HHA is reflected in the discount from sticker - before the lease credit is applied.
Selling price includes the $2,000 adder. I've getting $5500+ off the msrp without haggling before the adder. On a msrp around $45,xxxx
5 dealers that I got quotes for all confirmed 30/10= 59% and 30/12 = 58%. Not sure if I should be concerned about this.. I mean 5 dealers can't be all wrong... And also different MSDs. For 7 MSD, some quoted 2450 and some 1750.
Selling price includes the $2,000 adder. I've getting $5500+ off the msrp without haggling before the adder. On a msrp around $45,xxxx
5 dealers that I got quotes for all confirmed 30/10= 59% and 30/12 = 58%. Not sure if I should be concerned about this.. I mean 5 dealers can't be all wrong... And also different MSDs. For 7 MSD, some quoted 2450 and some 1750.
The MSD amount varies based on the size of the payment .. MSD is rounded up to the next highest $50.
No idea why the residual amount is different than our docs ... unless there has been a mid-month update that we didn't get.
Selling price includes the $2,000 adder. I've getting $5500+ off the msrp without haggling before the adder. On a msrp around $45,xxxx
5 dealers that I got quotes for all confirmed 30/10= 59% and 30/12 = 58%. Not sure if I should be concerned about this.. I mean 5 dealers can't be all wrong... And also different MSDs. For 7 MSD, some quoted 2450 and some 1750.
West Coast has a different residual for 30 months. And, it is 2% higher. Probably in response to the special rebate in California that requires a 30 month lease. It's pretty rare to see different residuals in different regions, but in this case, that's what it is.
Any recommended i3 dealers in Orange County, CA that won't rip me off? I'm willing to go to LA or IE because I haven't found good deals in OC before.
Hello OC alan,
My neighbor did a solid research in all OC,IE and he drove 30 miles out of the way from irvine to Murrieta. They had the best deal and he closed the deal that evening. I'm work with dealers in Irvine, Santa Ana, Buena Park, long beach and all of their numbers were similar. $5000 on base and $6000 on Rex before the Holiday adder. I'm sure more discount on loaded Rex.
Hello, Thank you Edmunds.com for having this forum. It has been of great help for me, and I am sure for many others.
I have been offered, after several days of negotiating with the sales manager, a $6100 discount for a Rex i3, msrp $51,200 (12% discount). I live in Massachusetts and wanted to know if this is a great discount or if I should push for a little bit more. I am leasing the car for 36 months, 15K/year. MF 0.00131 and RV 50%.
Hello, Thank you Edmunds.com for having this forum. It has been of great help for me, and I am sure for many others.
I have been offered, after several days of negotiating with the sales manager, a $6100 discount for a Rex i3, msrp $51,200 (12% discount). I live in Massachusetts and wanted to know if this is a great discount or if I should push for a little bit more. I am leasing the car for 36 months, 15K/year. MF 0.00131 and RV 50%.
Thank you!
Does the $6100 include the $2000 Happier Holiday incentive? Or, do you get that on top of the $6100?
hi everyone. Thanks for the detailed help and numbers! Does anyone have a contact for a dealer willing to go 15% off MSRP on the west coast? I'm okay shipping it to me.
hi everyone. Thanks for the detailed help and numbers! Does anyone have a contact for a dealer willing to go 15% off MSRP on the west coast? I'm okay shipping it to me.
Interested in the same here. Does the west coast residual apply if the car gets shipped and registered in VA? Thanks in advance.
hi everyone. Thanks for the detailed help and numbers! Does anyone have a contact for a dealer willing to go 15% off MSRP on the west coast? I'm okay shipping it to me.
Interested in the same here. Does the west coast residual apply if the car gets shipped and registered in VA? Thanks in advance.
No... on a lease, the numbers are based on where the car is registered.
Doubtful if any of the $1000 would be left, by the time you paid to ship it, so no real point.
Thank you! We signed the papers and got the car today. When we signed the lease, the car was supposed to have 10 miles according to the contract, but when we were about to leave the dealer, the odometer was showing 280 miles. I also found a deep scratch on a small lower panel located just before the front wheels. They told me that they could fix it, but when I asked them about the mileage discrepancy they apologized and just told me that their cars would sometimes be used for test driving. I explained to them that I could understand if the car had 30-50 miles, but that 280 miles seemed a lot.
We generally lease cars and changed them often and have never received a "new" car with that kind of mileage. Between 10 and 50 miles has been our experience. I am wondering if this is normal. Any help would be greatly appreciated. Thanks
Thank you! We signed the papers and got the car today. When we signed the lease, the car was supposed to have 10 miles according to the contract, but when we were about to leave the dealer, the odometer was showing 280 miles. I also found a deep scratch on a small lower panel located just before the front wheels. They told me that they could fix it, but when I asked them about the mileage discrepancy they apologized and just told me that their cars would sometimes be used for test driving. I explained to them that I could understand if the car had 30-50 miles, but that 280 miles seemed a lot.
We generally lease cars and changed them often and have never received a "new" car with that kind of mileage. Between 10 and 50 miles has been our experience. I am wondering if this is normal. Any help would be greatly appreciated. Thanks
I don't think there is too much of a difference between 50 miles and 300 miles, in my opinion.
However, I would check the VIN #'s on the contract and the car to see if they match. Could be they gave you the wrong car. I've seen it happen before.
Thank you. I was doing a little more research and apparently it is not uncommon to get a new car with that kind of mileage. This forum helped me a lot in the negotiation. Thank you very much!
Thank you. I was doing a little more research and apparently it is not uncommon to get a new car with that kind of mileage. This forum helped me a lot in the negotiation. Thank you very much!
Hi everyone, Wondering if someone could advise on the MF for WA? Dealer I'm working with is telling me it's 0.00165 for the i3 REX. I thought the MF was 0.00131.
Thanks!
Happy motoring - on MINIs #5 (2013 fCJW) and #6 (2006 fJCW)
Hi everyone, Wondering if someone could advise on the MF for WA? Dealer I'm working with is telling me it's 0.00165 for the i3 REX. I thought the MF was 0.00131.
Thanks!
Base MF is indeed .00131, but dealer can mark it up for extra profit. Politely but firmly tell them you won't sign a deal with an inflated MF.
If I am reading this right, you are making a down payment of $3,510 (outside the MSD). That is generally considered a bad idea with a lease. If the car is stolen or totaled you will not get that money back. "No money down" is usually the preferred way to lease. It's also misleading as your monthly payment is not actually $249--It's more like $395.
I'm sorry, I'm not sure what the net cap cost is, this was what I wrote down from my conversation with the dealer. It was my understanding that my total monthly would be the 249 including tax already.
I'm sorry, I'm not sure what the net cap cost is, this was what I wrote down from my conversation with the dealer. It was my understanding that my total monthly would be the 249 including tax already.
Looks good, compared to my calculations. Just want to make sure that you don't get surprised when you get to the dealer.
Can someone please weigh in on this? I don't think I am being offered a good deal at -$2k off MSRP! I am in PA. Heading to a different dealership this morning to try again, but this is so far off of what the rest of you (and KBB/Edmunds) are reporting that I am wondering if things are different on the West coast?
The scribbled numbers are $7k, $3.5k, $3.5k- I talked them into coming up $500 to $7000 on my trade, but I still don't want to put more than $3.5k down.
Can someone please weigh in on this? I don't think I am being offered a good deal at -$2k off MSRP! I am in PA. Heading to a different dealership this morning to try again, but this is so far off of what the rest of you (and KBB/Edmunds) are reporting that I am wondering if things are different on the West coast?
The scribbled numbers are $7k, $3.5k, $3.5k- I talked them into coming up $500 to $7000 on my trade, but I still don't want to put more than $3.5k down.
Read back through the last page or two of this thread to see what others have been able to negotiate.
How is the trade equity being applied? We do not recommend it be used as down payment (cap cost reduction) - that money is at risk if the car is stolen or totaled.
Thanks for the reply, Michaell. I did read through the thread (focusing on the December posts,) but I am still confused as to why -$3k (before incentives) is the final offer from two dealers now when everyone else seems to be getting -$5k before the happy holiday adder. I went to another across town this morning and they offered $100 off of this offer and .00131 MF, but that was it! I was wondering if I am just missing something... This is my first lease ever, and I think I'm understanding it better now, and I didn't expect the selling price to be the thing that threw me for a loop. I am able to get them to go as low as what is required at signing, so I might do that and then put the cash into a savings account where I apply it to the payment every month (if I can find a deal I feel comfortable with before the happy holiday adder expires!)
Thanks for the reply, Michaell. I did read through the thread (focusing on the December posts,) but I am still confused as to why -$3k (before incentives) is the final offer from two dealers now when everyone else seems to be getting -$5k before the happy holiday adder. I went to another across town this morning and they offered $100 off of this offer and .00131 MF, but that was it! I was wondering if I am just missing something... This is my first lease ever, and I think I'm understanding it better now, and I didn't expect the selling price to be the thing that threw me for a loop. I am able to get them to go as low as what is required at signing, so I might do that and then put the cash into a savings account where I apply it to the payment every month (if I can find a deal I feel comfortable with before the happy holiday adder expires!)
It's possible that inventory is starting to shrink, which puts the advantage back onto the dealers.
Have you considered traveling to where these great deals are? You can fly/drive quite a ways for the $2K you'd save.
I am seeing an online ad http://www.bmwusa.com/bmw/special-offers/lease/2015-BMW-i3 advertising a $219 / mo lease deal for i3 for 30 months , 10,000 miles and $3000 down. This includes the $7500 federal credit and an additional $2000 happier holiday promotion. The fine print says that this is based on MSRP assumption of $44,695 and end lease buy out price of $26,370 which I am guessing is the residual value.
I am trying to figure out what that means in terms of residual value % and money factor so I can talk to the dealers when I am negotiating an actual car. But plugging in the numbers in any reverse lease calculator is giving ridiculous numbers. The money factor comes out negative! The residual value % seems to be in excess of 60%. Something is not making sense! Please help explain the numbers. How do I translate this online promotion into something I can use to negotiate in real life?
I am seeing an online ad http://www.bmwusa.com/bmw/special-offers/lease/2015-BMW-i3 advertising a $219 / mo lease deal for i3 for 30 months , 10,000 miles and $3000 down. This includes the $7500 federal credit and an additional $2000 happier holiday promotion. The fine print says that this is based on MSRP assumption of $44,695 and end lease buy out price of $26,370 which I am guessing is the residual value.
I am trying to figure out what that means in terms of residual value % and money factor so I can talk to the dealers when I am negotiating an actual car. But plugging in the numbers in any reverse lease calculator is giving ridiculous numbers. The money factor comes out negative! The residual value % seems to be in excess of 60%. Something is not making sense! Please help explain the numbers. How do I translate this online promotion into something I can use to negotiate in real life?
It is taking in to account following:
I think it is really $269/month. i am seeing $269/- in mid-Atlantic area
Residual = 59% Money Factor = 0.00131 (3.14% apr, Top tier credit, 800 FICO needed) Dealer sale price = $44,695 (Your lease price goes down if you pay less than MSRP, generally people are paying 11-15% less than the MSRP, This is where you need to negotiate.)
I am seeing an online ad http://www.bmwusa.com/bmw/special-offers/lease/2015-BMW-i3 advertising a $219 / mo lease deal for i3 for 30 months , 10,000 miles and $3000 down. This includes the $7500 federal credit and an additional $2000 happier holiday promotion. The fine print says that this is based on MSRP assumption of $44,695 and end lease buy out price of $26,370 which I am guessing is the residual value.
I am trying to figure out what that means in terms of residual value % and money factor so I can talk to the dealers when I am negotiating an actual car. But plugging in the numbers in any reverse lease calculator is giving ridiculous numbers. The money factor comes out negative! The residual value % seems to be in excess of 60%. Something is not making sense! Please help explain the numbers. How do I translate this online promotion into something I can use to negotiate in real life?
It is taking in to account following:
I think it is really $269/month. i am seeing $269/- in mid-Atlantic area
Residual = 59% Money Factor = 0.00131 (3.14% apr, Top tier credit, 800 FICO needed) Dealer sale price = $44,695 (Your lease price goes down if you pay less than MSRP, generally people are paying 11-15% less than the MSRP, This is where you need to negotiate.)
hope this helps.
Good synopsis..
In this case, residuals are 2% higher in the Western Region, which is causing the different ad prices.
I have received the following quote from my local dealer in NC:
2015 BMW i3 w/Range Extender MSRP: 50,095 Discount: 9,545 Sale price: 40,550
Due on Delivery: 1,000
36 months lease, 10k miles/yr $514.28 per month incl tax
I was expecting around $400/mo and thought this is too high. Even if I double the down payment, the monthly payment only gets to $468.69. I don't have any other details such as residual and money factor.
Can someone please weigh in on this? What should I expect with this deal?
I have received the following quote from my local dealer in NC:
2015 BMW i3 w/Range Extender MSRP: 50,095 Discount: 9,545 Sale price: 40,550
Due on Delivery: 1,000
36 months lease, 10k miles/yr $514.28 per month incl tax
I was expecting around $400/mo and thought this is too high. Even if I double the down payment, the monthly payment only gets to $468.69. I don't have any other details such as residual and money factor.
Can someone please weigh in on this? What should I expect with this deal?
Thanks!
36/10 numbers on the i3 REX are .00132 and 53%. $7500 lease credit.
Confirm that the lease credit is deducted from the selling price. If so, then the net cap cost drops to $33,050 and the pre-tax payment becomes $259/mo + tax. As is, I get $477/mo + tax.
Find out what the $1000 at delivery covers - I don't see the bank fee mentioned anywhere.
Comments
The dealer also quoted me 4.3% interest rate. I think this is a markup. Anyone know what the interest rate for December?
So, folks, don't be fooled by the $2000 Happier Holiday Event incentive in December (They give you $2000 more, but they decrease the residual value to 51% to balance out the $2000 incentive, and ALSO increase the lease term to 3-year). When I plugged in the numbers, it turned out to be WORSE than the October and November deals. Basically, you will end up with the same total monthly payment as November offer, but you will be locked into a 3-year contract, instead of 2-year contract. They are so sneaky
I was poking around Southern California dealers and one dealer said 30/10k residual is 56% and another dealer in Irvine saying 59%..I guess, I'll go with 59%~
I know they can mark up the MF but not the residual right?
The residual is set by BMWFS and cannot be altered by the dealer.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
- MSRP: 54895.00
- Residual Rate: 61.0%
- Residual Value: 33485.95
- Discount -5900.00 (RED FLAG: Edmund True Market Price is $7600 off MSRP)
- Agree Upon Price: 48995.00 (RED FLAG: over TMP)
- Sales Tax in Texas (6.25%): 2531.25 (RED FLAG: Not possible to have $0 sale tax in order to produce $480/month. If truly $0 sale tax, monthly payment would be $370 instead).
- Title, Reg, Inspection Fees ($33, $50, $17): 100.00
- Documentary & Misc Fees: 200.00 (NOTE: Not required by law; but dealer can use as profit).
- Gross Cap Cost: 51826.25
- Cap Reduction Cost 1 (tax credit): -7500.00 (NOTE: available nationwide)
- Cap Reduction Cost 2 (Happier Holiday Adder incentive available nationwide): 0.00 (RED FLAG: dealer purposely excluded the $2000 Happier Holiday Adder incentive).
- Cap Reduction Cost 3 (down payment): -840.00 (RED FLAG: dealer purposely included a down payment of $840 in the total $4800 due at signing, which I explicitly requested for $0 down).
- Net Cap Cost: 43486.25
- Depreciation Value: 10000.30
- Lease Term (months): 24
- Monthly Depreciation: 416.68
- MSD (Multiple Security Deposit): 7
- Security Deposit: 3500 (part of the $4800 due at signing)
- Money Factor 1 (MSD mark-down: 0.00007 x MSD): -0.000490
- Money Factor 2 (base): 0.001310
- Money Factor 3 (dealer mark-up): 0.000000
- Total Money Factor: 0.000820
- Interest Rate (%): 2.0%
- Monthly Interest: 63.12
FINAL MONTHLY PAYMENT: 480 (RED FLAG: way too high! roughly $4000 over charge through out the entire 24-month lease!).
Another dealer in Austin TX told me it's 59% vs the one in Houston TX told me it's 61%. which one is officially correct?
The best deal this month is on the 30 month lease. 57% residual
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http://www.bmwofwestlake.com/specials/index.htm?category=i3 Lease Specials
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Could you help verify the monthly numbers are accurate?
$1,200 is used for 1st pmt and other fees and not twd cap cost.
Using my own calculator I'm getting $183 + tax so wonder if there is the tax for the credit being added here.
Regardless a great deal...
thank you
2015 BMW i3
MSRP: 45,895
Selling Price: 38,200
Lease Credit: 7,500
30 month lease
12,000 miles per year
Residual: 58% (26,619.10)
Down Payment: 1,200
MSD (7): 1,750
Total Due at Signing: 2,950
Money Factor (OAC): .00082
Monthly Payment: 218.14 + tax
Total Monthly Payment: 235.59 (includes 8% tax rate)
$925 acquisition fee + tax on credit and acq.fee (about $675).
That's $1550 + 1st payment ($235), title/registration/dealer fees ($500?)
That's about $1300 more than the $1200 you are putting upfront. That would take it up to $227/mo.+tax, so I might have over-estimated the title fees.
Ask for the NET CAP cost and what it includes, besides the selling price minus the rebate.
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I've getting $5500+ off the msrp without haggling before the adder. On a msrp around $45,xxxx
5 dealers that I got quotes for all confirmed 30/10= 59% and 30/12 = 58%. Not sure if I should be concerned about this.. I mean 5 dealers can't be all wrong...
And also different MSDs. For 7 MSD, some quoted 2450 and some 1750.
No idea why the residual amount is different than our docs ... unless there has been a mid-month update that we didn't get.
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Arvvani greyx rex, giga, 20", parking, and driving assistant
MSRP $53,545
Selling price is $47,960 (11% off msrp)
-Happier Holiday $2,000
=$45,960
Residual is still the same this month at 59% 30 month/10k( I am in CA)
$31951.55
$7,500 federal rebate
$1,000 college grad
$1,000 UDE
=$9,500 cap. reduction
$2,383.46 (taxes, registration and fees)
$1,750 (7 Security deposits@$250/each)
$237.71 first payment
$4,371.28 due at signing.
so $237.71*29 =$6,893.59+$4,371.28=
$11,264.87-$1,750(security dep)-$2,500(CA rebate)
=$7,014.87 total cost of lease after 30 months.
I probably could've gotten another $1k off the msrp but I was content with the deal, didn't even really haggle at all.
My neighbor did a solid research in all OC,IE and he drove 30 miles out of the way from irvine to Murrieta. They had the best deal and he closed the deal that evening.
I'm work with dealers in Irvine, Santa Ana, Buena Park, long beach and all of their numbers were similar. $5000 on base and $6000 on Rex before the Holiday adder. I'm sure more discount on loaded Rex.
Thank you Edmunds.com for having this forum. It has been of great help for me, and I am sure for many others.
I have been offered, after several days of negotiating with the sales manager, a $6100 discount for a Rex i3, msrp $51,200 (12% discount). I live in Massachusetts and wanted to know if this is a great discount or if I should push for a little bit more. I am leasing the car for 36 months, 15K/year. MF 0.00131 and RV 50%.
Thank you!
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Thank you
No... on a lease, the numbers are based on where the car is registered.
Doubtful if any of the $1000 would be left, by the time you paid to ship it, so no real point.
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We signed the papers and got the car today.
When we signed the lease, the car was supposed to have 10 miles according to the contract, but when we were about to leave the dealer, the odometer was showing 280 miles. I also found a deep scratch on a small lower panel located just before the front wheels. They told me that they could fix it, but when I asked them about the mileage discrepancy they apologized and just told me that their cars would sometimes be used for test driving. I explained to them that I could understand if the car had 30-50 miles, but that 280 miles seemed a lot.
We generally lease cars and changed them often and have never received a "new" car with that kind of mileage. Between 10 and 50 miles has been our experience.
I am wondering if this is normal. Any help would be greatly appreciated.
Thanks
However, I would check the VIN #'s on the contract and the car to see if they match. Could be they gave you the wrong car. I've seen it happen before.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
This forum helped me a lot in the negotiation.
Thank you very much!
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Thanks!
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
I questioned the CA when he originally stated .00170
Got to 9.5% off MSRP, trying for >10%.
30mo/10K
i3 with Rex
thabk you guys so much for your time
I believe my monthly payment also includes tax already to end up at 249.02.
Thank you guys
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The scribbled numbers are $7k, $3.5k, $3.5k- I talked them into coming up $500 to $7000 on my trade, but I still don't want to put more than $3.5k down.
How is the trade equity being applied? We do not recommend it be used as down payment (cap cost reduction) - that money is at risk if the car is stolen or totaled.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Have you considered traveling to where these great deals are? You can fly/drive quite a ways for the $2K you'd save.
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I am trying to figure out what that means in terms of residual value % and money factor so I can talk to the dealers when I am negotiating an actual car. But plugging in the numbers in any reverse lease calculator is giving ridiculous numbers. The money factor comes out negative! The residual value % seems to be in excess of 60%. Something is not making sense! Please help explain the numbers. How do I translate this online promotion into something I can use to negotiate in real life?
I think it is really $269/month. i am seeing $269/- in mid-Atlantic area
Residual = 59%
Money Factor = 0.00131 (3.14% apr, Top tier credit, 800 FICO needed)
Dealer sale price = $44,695 (Your lease price goes down if you pay less than MSRP, generally people are paying 11-15% less than the MSRP, This is where you need to negotiate.)
hope this helps.
In this case, residuals are 2% higher in the Western Region, which is causing the different ad prices.
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2015 BMW i3 w/Range Extender
MSRP: 50,095
Discount: 9,545
Sale price: 40,550
Due on Delivery: 1,000
36 months lease, 10k miles/yr
$514.28 per month incl tax
I was expecting around $400/mo and thought this is too high. Even if I double the down payment, the monthly payment only gets to $468.69. I don't have any other details such as residual and money factor.
Can someone please weigh in on this? What should I expect with this deal?
Thanks!
Confirm that the lease credit is deducted from the selling price. If so, then the net cap cost drops to $33,050 and the pre-tax payment becomes $259/mo + tax. As is, I get $477/mo + tax.
Find out what the $1000 at delivery covers - I don't see the bank fee mentioned anywhere.
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