[Hyper psi-atic]

Originally Posted by Hachi

As the attachement shows I worked out a monthly payment to be $663.69/mo. where I would be paying upfront $700 for security deposite + appox $150 for title related fees + $725 aquisition fee = $1575.00

If this is correct does this seem like an attractive deal? If not any suggestions on how to work the numbers more into my favor?

Thanks for all your help.

Yea $663.69 is a better price. I see you included the .00175 which is the Owner Loyalty Program MF rate for returning Leasees/Buyers. If you arent returning then you might have a hard time getting that rate BUT i wouldnt rule it out and try to negotiate it down to that rate. Their first offer to me had taxes/fees/upfront that came in around $1600 for Virginia at 5% so yours look good in that sense. Also the fact you arent putting anything down will keep your rate higher. BMW says every $1000 financed for a lease is $27/month payment. Not sure how accurate but just an FYI. You can also roll those taxes/fees into your payments if you wish, so you dont have to come out of pocket for anything up front, but I believe its always better in the long run to pay up front for what you can cuz you'll end up paying more over time.

Talk to your dealer about Multiple Security Deposits (MSD's) as people have suggested. As long as you dont total the car you get them back at the end of the lease, and they bring down your monthly payment.

[SteveMD]

Originally Posted by Hachi

As the attachement shows I worked out a monthly payment to be $663.69/mo. where I would be paying upfront $700 for security deposite + appox $150 for title related fees + $725 aquisition fee = $1575.00

If this is correct does this seem like an attractive deal? If not any suggestions on how to work the numbers more into my favor?

Thanks for all your help.

It is wrong. You're not reading what I am telling you. Texas charges tax on the WHOLE NEGOTIATED PRICE - NOT ON THE PAYMENT.

The calculator you are using adds 6.25% to the monthly payment. This is NOT how your state does it. If you want to use the calculator, add 6.25% to the negotiated price and then use 0% when asked for your state tax.

Your payment is $711 as I indicated previously. That is with 6.25% of the whole cost of the car rolled in i.e about $2900.

[Hachi]

Originally Posted by SteveMD

It is wrong. You're not reading what I am telling you. Texas charges tax on the WHOLE NEGOTIATED PRICE - NOT ON THE PAYMENT.

The calculator you are using adds 6.25% to the monthly payment. This is NOT how your state does it. If you want to use the calculator, add 6.25% to the negotiated price and then use 0% when asked for your state tax.

Your payment is $711 as I indicated previously. That is with 6.25% of the whole cost of the car rolled in i.e about $2900.

I see what you mean. Thank you for clarifying.

Originally Posted by Hyper psi-atic

Yea $663.69 is a better price. I see you included the .00175 which is the Owner Loyalty Program MF rate for returning Leasees/Buyers. If you arent returning then you might have a hard time getting that rate BUT i wouldnt rule it out and try to negotiate it down to that rate. Their first offer to me had taxes/fees/upfront that came in around $1600 for Virginia at 5% so yours look good in that sense. Also the fact you arent putting anything down will keep your rate higher. BMW says every $1000 financed for a lease is $27/month payment. Not sure how accurate but just an FYI. You can also roll those taxes/fees into your payments if you wish, so you dont have to come out of pocket for anything up front, but I believe its always better in the long run to pay up front for what you can cuz you'll end up paying more over time.

Talk to your dealer about Multiple Security Deposits (MSD's) as people have suggested. As long as you dont total the car you get them back at the end of the lease, and they bring down your monthly payment.

If .00175 is for returning Leasees/Buyers then what is the rate for new clients? Thanks.




So given what I have stated does this look like a good deal or do you think I can do better....if so what should i target? Thank you.

[SteveMD]

Originally Posted by Hachi

So given what I have stated does this look like a good deal or do you think I can do better....if so what should i target? Thank you.

0.00175 is the buy rate. Shoot for that.

Shoot for $725 acquisition fee.

Then simply try and get the best price possible on the car, just as if you were paying with dollar bills.

You absolutley have to know what you are doing with a lease. If the sales dude gets even the slightest idea you are out of your depth, you are toast.

I did both my deals by email. "I need this car, spec'd out as described, for this price with no maek up on the MF or bank fee."

Worked for me both times I got stellar deals.

You should shoot for $1000 over invoice or less. Remember that there will be $300-$400 MACO/Training/Advertising in there. The car I just picked up I got the buy rate, no mark up on the fee and $780 over Edmunds invoice which is actually $500 over plus MACO.

[Evangelo2]

Car order details in signature...
I called my salesperson today and got the newer money factor, .00175. Now here is how my deal looks...

MSRP: 54,845 (Includes 825 Dest & Handling, 300 MACO - no other fees like training fees at all in my deal)
Negotiated Price: 51,600 (Includes 825 Dest & Handling, 300 MACO - no other fees like training fees at all in my deal)
Cap Cost Reduction: 3500
Residual: 59% (36 months, 12k per year)
Money Factor: .00175 (4.2%)
Term: 36 Months
Monthly Payment: 575.50

To be paid up front: taxes + 600 Sec Deposit + Banc Doc Fee 725 + DMV Fees (NY Tire Recycling Fee, NY Inspection Fee, Dealer Processing fee of $45)

I'm even happier now that the rate is a little lower