[gdspshing]

This is the first time i am trying to lease a car.
so, i really need some help here.

2009 E92 335i
M-sport
Cold weather
premium package
automatic
nav
ipod
logic 7

MSRP: 54475
Dealer: 51000

Down payment: 3500
Monthly payment: 568.5+tax
36months/12k miles
due at signing: 7578.92 including tax
residual value: 60%
money factor: .00175

What do you think?
Am i suppose to pay for tax?$51000* 8% tax rate (NY)?

[stuynet]

Originally Posted by gdspshing

This is the first time i am trying to lease a car.
so, i really need some help here.

2009 E92 335i
M-sport
Cold weather
premium package
automatic
nav
ipod
logic 7

MSRP: 54475
Dealer: 51000

Down payment: 3500
Monthly payment: 568.5+tax
36months/12k miles
due at signing: 7578.92 including tax

What do you think?

If you do a down payment use the multiple security deposit method. At the end of the lease term you get your deposit back. Also, if you do MSD you reduce the money factor by .00007 I believe. You can do up to 7 MSDs for a total MF reduction of .00049.

[gdspshing]

Originally Posted by stuynet

If you do a down payment use the multiple security deposit method. At the end of the lease term you get your deposit back. Also, if you do MSD you reduce the money factor by .00007 I believe. You can do up to 7 MSDs for a total MF reduction of .00049.

what's the main advantage of doing this?

[stuynet]

Originally Posted by gdspshing

what's the main advantage of doing this?

Putting down money on a lease is a waste of money. Many people equate it to prepaying your rent on an apartment.

With a MSD, you get your money back at the end of the lease (minus and wear and tear) and you lower your money factor rate. That's the main advantage I am aware of. Overall, you lower your monthly payments.

[Vudoo4u2]

in new york I do not believe you pay sales tax on the full vehicle sales price but rather the leased value. (unlike IL)

568.50 + TAX + 3500 down is not bad. that would put you at ~765 a month with nothing down except 1st months payment.

Imo...when leasing, you should NEVER put money down. Always roll into the payment as you are saving yourself some dollars eventhough your monthly looks higher.

for reference, in IL over a year ago I got a rate of 785 for the same term (and in IL we pay sales tax on the full vale...and I put nothing down)

[gdspshing]

Originally Posted by Vudoo4u2

in new york I do not believe you pay sales tax on the full vehicle sales price but rather the leased value. (unlike IL)

568.50 + TAX + 3500 down is not bad. that would put you at ~765 a month with nothing down except 1st months payment.

Imo...when leasing, you should NEVER put money down. Always roll into the payment as you are saving yourself some dollars eventhough your monthly looks higher.

for reference, in IL over a year ago I got a rate of 785 for the same term (and in IL we pay sales tax on the full vale...and I put nothing down)

i am not sure on the tax as well.

[gdspshing]

does it sound ridiculous to pay sales tax on full vehicle?i am going to get in nyc and register in Indiana

[gdspshing]

ttt

[stuynet]

Originally Posted by gdspshing

does it sound ridiculous to pay sales tax on full vehicle?i am going to get in nyc and register in Indiana

I'm not sure, but in NY you pay taxes upfront on the total of the lease payments. But if you pay the taxes upfront in NY you can then register it in Indiana an apply for a credit for the taxes you paid in NY. If that is possible. Check out Indiana's DMV for clarification.

[Bobby_LeMans]

where you planning to get this at?
I am in the market as well looking for one...

[gdspshing]

probably at bmw Manhattan

[gdspshing]

ttt