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Prices Paid: Buying & Leasing Experiences BMW 3-Series Lease Questions
3205 messages, Last post on Dec 02, 2009 at 11:16 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: jackals (Jan 03, 2008 7:56 pm) |
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Posted this over at bimmerfest, but figured I'd also cross post. In some states, tax is calculated based on the use of the car. For those states, when you want to roll the tax into the payment, the calculation is simple: [(Monthly Depreciation Charge) + (Interest Charge)] * (Sales Tax) = Monthly Tax Charge But what about states (like MD) where the tax is based on the selling price of the car? How do you determine the tax if you are rolling it into the payment? Is it simply: (Sales Tax) * (Selling Price) / (Term) = Monthly Tax Charge I think it wouldn't be like that since if it is going into the monthly payment you'd have to pay some sort of interest charge, but I'm not sure how to calculate it? Any pointers? Thanks in advance. Ross
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Replying to: smithre4 (Jan 04, 2008 9:14 am) TAX is added to the CAP cost, as BMWFS will pay it to the state upfront.
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Replying to: kyfdx (Jan 04, 2008 9:17 am) |
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CarMan and Kyfdx or anyone else who might know...would you happen to have the January MF and residual on an '08 328xi Coupe yet? I have 13 months left on an '06 325i and want to see if I could get into an '08 Coupe. This forum is awesome by the way, I read it all the time.
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These boards are great, thanks to all who give there information and opinion I have found myself staying up rather late the last few days reading almost every post i can come across. I'm sorry if this was answered before, I did not come across it so I thought I would ask. I am interested in a 2008 328i or 335 convertible w/ 15k miles per year for a 2 or 3 year lease and I live in Arizona. I found within forums a MF of .00295 & .00310 for the cars i stated above and my questions below revolve around the Money Factor Issue on Leasing. MY QUESTIONS: 1. Is there a baseline MF? If so does the baseline or lowest Money Factor (MF) change every month, quarter or at certain times with the BMW Departments for each make/model of car. I ask because I notice on different post's there are different MF for the same car. If it does change how often and why? At the link below you will find 2008 328/335 Convertible with a MF of .00310 Where does this .00310 come from, does it change, is this a baseline or can the dealer go lower and if so how low can or will they go? Forum 2008 BMW MF List 2. Is the MF based on my credit check, meaning the higher my score the better or lower my MF would be? 3. Does the Dealer I am working with at the BMW Shop have the ability to go as low or high as he wants on the MF and if so what factors does he take into account to lower or raise it. Mainly asking to find out what way's i can get the lowest MF at time of sale. 4. I read that you could put up to 7 security deposits down lowering your MF by a percentage for each deposit. Is this true and is this a good idea and will it be in the lease that you get back all the deposit you put in or could they turn around and state the car is damaged and keep $2,000-5,000 of your deposit. Thanks to anyone that can answer these questions especially since there are 2-4 questions per paragraph, sorry about that. Michael
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Hi Car Man & Kyfdx, IThank you both for letting me know that the selling price was the figure that was missing in my calculations. I spoke to a total of six dealers & let them know that I knew the MSRP of the car I wanted & I just basically needed to know at what selling price they would give me the car. Many of them were not nice or helpful. I did find a saleman in Briarcliff, NY who was very cooporative. I'm plannig to get BMW 328xi on Tuesday. I figured out the lease payments myself and it sound right please let me know what you think. Thanks again. 328xi, automatic, heated front seats. MSRP $36,850 Residual 22,478.50 (61.00%) Selling prize $35,766 ($1,084 less) Money Factor .00175 Due at signing: 1. 1st month $471.03 Reg. fee $55. Bank fee/Acquisition fee $625 (He stated that the bank fee is the same as the acquisition fee. It means the same. Is this true?) Documentation fee $45 Te recycle fee $12.50 Inspection $10.00 Sales tax $1,296.76 TTotal: $2,515.20 IS this a good deal?
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Replying to: maritza2 (Jan 06, 2008 5:39 pm) Rather than working with salesmen at each dealer, use Edmunds' system to communicate with the Internet department at each dealer. To do this, configure your car on Edmunds new car prices section. Then follow up with Edmunds' "Get Dealer Quotes" to send a message to each dealer. In the text of your message, tell them that you are ready to lease this car at a price of $800 (or whatever number you feel comfortable asking) over invoice. You'll get straightforward responses from the Internet managers at several of your dealers, and you can choose which ones to work with based on their responses. If they don't respond, or won't deal at your price, forget them. Much less stress than trying to find a nice salesman. Your lease numbers check out right on my calculator, assuming that money factors have gone up about .0010 from December rates, and assuming that none of your up front fees are rolled into your lease. Typically, you should be able to get the base money factor assuming that you are a returning BMW customer, or if you pay one month's payment as a refundable security deposit. You didn't mention whether you are paying a security deposit or whether you are a returning BMW customer. Since I don't have the January money factors, I can't tell whether you are getting the base rate or an inflated rate. Good luck with your deal. Let us know how you do.
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Replying to: boomer23 (Jan 06, 2008 7:25 pm) Yes I'm a returning BMW customer & I am not paying a security deposit this time. I'm going to try what you said to see if I get a better deal, but if I don't I'll stick with this one & know better for next time. Thank you very much. Maritza |
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