Okay everyone, I've been following all these threads for months, carefully weighing out my options, reading, learning, waiting.
Earlier today I found a brass hat lease opportunity on a 2015 M235i 6spd w/Nav, Coral Red leather, and 8,252mi on it.
Rang up the dealership to get current money factor and residual percentage numbers which they quoted as .00170 and 67.96% respectively. Yes, I know how much that residual percentage stings for those of you who've ordered, or were thinking about ordering, a 2016 M235i.
So, I like those numbers, run them on edmunds.com lease calculator with the advertised price of $41,994 for 10k/36mo, $4000 down (amount I have saved for car purchase or downpayment), and get some favorable results.
$28,539 residual value.
$13,455 lease amount.
$398/mo including tax
I ask my sales guy what their current lease offer on the car is, he says $414/mo + tax which comes out to $450/mo. Total drive off including all fees, $3995.
I tell him I'm getting different numbers, he says that's not surprising, customer calculations are always wrong. I laugh for a minute, then make it very clear that this ain't my first rodeo. He says he'll see where everything factors in when I get to the dealership. I know it's an age old sales tactic, but even their inflated quote is a pretty good deal in my eyes, so I'm ok with going in to finish the negotiation.
Still, I'd like to know what you all think of the deal and where you think they might be getting that extra $52 a month from. If I can whack that out, I'm going to be one happy camper with my first BMW coming in at under $400/mo.
Buying the car in CA, taking it back to VT for registration and garaging. Sales tax of 6% vs 9% but that only bumps the payment up to $407.
Lastly, all these calculations were done using my calculated residual price of $28,539 ($41,994 x .6796), but the last bit of information I got from the sales guy was their claimed residual value, $29,473. If I plug that into the edmunds.com lease calculator, I get a payment of $373! How can their numbers be so far off? I'm obviously going to get back on the phone with them tomorrow and get some answers.
The one thing I don't have is the original invoice price of the car which I should have asked for today, but in my excitement I spaced it.
Here's another question, assuming they're straight with me and I get the numbers to where I have them, should I cut the downpayment in half to $2k and pay a little more a month?
Thanks in advance for replies, wish I could apply my UDE/Red Bull employee credits amounting to $1,500 to this!
Earlier today I found a brass hat lease opportunity on a 2015 M235i 6spd w/Nav, Coral Red leather, and 8,252mi on it.
Rang up the dealership to get current money factor and residual percentage numbers which they quoted as .00170 and 67.96% respectively. Yes, I know how much that residual percentage stings for those of you who've ordered, or were thinking about ordering, a 2016 M235i.
So, I like those numbers, run them on edmunds.com lease calculator with the advertised price of $41,994 for 10k/36mo, $4000 down (amount I have saved for car purchase or downpayment), and get some favorable results.
$28,539 residual value.
$13,455 lease amount.
$398/mo including tax
I ask my sales guy what their current lease offer on the car is, he says $414/mo + tax which comes out to $450/mo. Total drive off including all fees, $3995.
I tell him I'm getting different numbers, he says that's not surprising, customer calculations are always wrong. I laugh for a minute, then make it very clear that this ain't my first rodeo. He says he'll see where everything factors in when I get to the dealership. I know it's an age old sales tactic, but even their inflated quote is a pretty good deal in my eyes, so I'm ok with going in to finish the negotiation.
Still, I'd like to know what you all think of the deal and where you think they might be getting that extra $52 a month from. If I can whack that out, I'm going to be one happy camper with my first BMW coming in at under $400/mo.
Buying the car in CA, taking it back to VT for registration and garaging. Sales tax of 6% vs 9% but that only bumps the payment up to $407.
Lastly, all these calculations were done using my calculated residual price of $28,539 ($41,994 x .6796), but the last bit of information I got from the sales guy was their claimed residual value, $29,473. If I plug that into the edmunds.com lease calculator, I get a payment of $373! How can their numbers be so far off? I'm obviously going to get back on the phone with them tomorrow and get some answers.
The one thing I don't have is the original invoice price of the car which I should have asked for today, but in my excitement I spaced it.
Here's another question, assuming they're straight with me and I get the numbers to where I have them, should I cut the downpayment in half to $2k and pay a little more a month?
Thanks in advance for replies, wish I could apply my UDE/Red Bull employee credits amounting to $1,500 to this!
Have A 2015 M235i 6spd On Hold!
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