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Prices Paid: Buying & Leasing Experiences BMW X3 Prices Paid and Buying Experience
1544 messages, Last post on Sep 28, 2009 at 3:51 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: kyfdx (May 15, 2005 7:50 am) Thanks.
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Replying to: zhou (May 15, 2005 9:20 pm) Is there truly a tax credit on trade-ins? Or are they just saying the tax on the payment will be less, if you use your trade-in for a big downpayment? Because, if it is the latter, most states that tax the lease payment, also tax any downpayment you make on the lease.. So, it would be a wash.. Making large downpayments on leases is never a good idea... Too many things can happen.. and almost all of them are negative.. If the only way to get the tax credit is to put all of the trade-in allowance on the lease, I'd just forego that credit.. regards, kyfdx
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Replying to: kyfdx (May 02, 2005 8:14 am) sunroof heated front seats foglights MSRP: 33,100 Negotiated: 30,592 Money fact: .00215 Residual: 59% Term: 36 mos. 12K miles $415/mo $1800 due at signing What I would really like is to be at 1400 due at signing and 400/mo. Am I crazy? Will BMW finance lower the money factor to at least hit the 400/mo? Thanks!
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Replying to: schmebi (May 17, 2005 3:45 am) 2) They are marking up the money factor the maximum .0004 and also bumping it .00015 to account for no security deposit.. 3) Not sure how your $1800 upfront breaks down.. I'm guessing $415 1st pymt, $825 acquisition fee (marked up $200).. That leaves $560.. No security deposit, so is that tax? Bogus dealer fees? The $415/mo. can't include taxes, so that has to be somewhere... unless they are adding into your payment? Did they say $415/mo.+tax.. Should look like this.. $33,100 MSRP $30,592 Selling price $31,217 Cap cost (selling price + $625 acq.fee) 3yr/36K lease Residual 59% Money factor .0016 (base rate) Payment $406/mo.+ tax Due at signing: 1st payment, security deposit.. title, license, etc.. (approx. $1000-$1200) regards, kyfdx
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-MSRP X3 3.0**$37,070 (Only includes sat prep radio and automatic which I thought was standard) -Negotiated price $36,300 (I think this is too high) -Term 12K/36months -MF .00155 (Is this the current May rate from BMWFS or is it marked up by dealer?) -Residual 60% -Acq fee $750 (should be $625) -Lic fee/title fee/state insp fee/vehicle inv. fee/doc fee $272.30 -State sales tax $2268.75 -Total due at signing including 1st month payment, all fees, sales tax around $3300 -Total monthly payment $494 **Please critique this deal!! I will probably try to get dealer down to $35,000 on price, and ask for whatever BMFS rate is for MF, if the one they offered is not the same.
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Replying to: bmx3 (May 17, 2005 1:24 pm) 2) Selling price stinks.. even at this low an MSRP, about $1000 too high.. 3) Base MF is .0010.. they are marking it up the maximum, plus adding on for security deposit waiver.. 4) You are right about the acq.fee.. 5) The residual is 61% If you assume a selling price of $35K, use the base money factor and residual of .0010 and 61%.. Roll the taxes and the $625 acq.fee into the payment, you get a payment of $485/mo... With just 1st payment and fee of $272.30 and security deposit due at signing.. (Approx. $1260 total) Hope this helps.. kyfdx |
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Replying to: kyfdx (May 16, 2005 6:41 am) This is the first time I'm leasing a car. So I'm not very clear of the tax caculation here either. The dealer told me the tax is caculated on the monthly payment. So if I trade in my old car, my monthly payment would be smaller so I pay less tax. This how I understand. As you pointed out, putting down a huge down payment is not a good idea in leasing. I was just a little bit confused of your last post of "tade in but get credit withough putting the money down." Thanks again for your help.
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Replying to: kyfdx (May 17, 2005 6:48 am) Did the deal tonight and actually got what I wanted. We ordered the car and the deal was as follows: $1480 due at signing (1st months, tax & tags) 400.00/month 36 months 12K miles/yr Thanks again for the input...
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Replying to: zhou (May 17, 2005 2:35 pm) In other words, the state isn't going to be screwed out of $800, because you decide to make a $10K downpayment on a lease... They will also tax that $10K downpayment.. This is kind of a separate issue from getting a tax credit for trading a car in.. And, not being from Washington, I can't say exactly how it works there... But, whether you use all of the proceeds from your trade-in as a downpayment, or whether they cut you a check for the amount, and you put nothing down... shouldn't affect the total sales tax that you pay. regards, kyfdx
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Replying to: schmebi (May 17, 2005 6:23 pm) Now, you just have to wait... |
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