Quote:
Originally Posted by mntbiker
It's pretty hard to tell where these numbers are coming from, but it seems pretty clear that this is a bad deal. I ran some numbers for you and here's what I came up with:
1) Used BMWConfig to find the estimated invoice price on your car (since I don't know the specs). I priced one out to MSRP $53,125 with an invoice price of $49,390. Close enough.
2) Calculated the net cap cost as: $49,390 (invoice) - 750 (loyalty) + 725 (acquisition fee) + 1000 (dealer cash, could be a lot lower). Cap cost comes to: $50,365.
3) Factored in 7% tax on the monthly payment (=$39/mo)
4) Total monthly payment with these numbers would be $601 (tax included). If you only pay $500 over invoice, this goes down to $585/mo.
This would be with no down payment. Due at signing should be first months payment + fees/dmv/title/etc - $500 turn key (loyalty).
I have no idea what that $3115 tax amount is. Do you have to pay tax up front in FL?
Also, the doc fee seems really high like others have said.
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Thanks everyone (and especially mntbiker), This was exactly what I needed. I made my own google doc sheet to plug figures into with all the math to know exactly what makes up the costs. I e-mailed this back to the dealer but I'm not holding my breath that they will be interested in taking it. I suspected the quote was intentionally confusing, missing items, etc but like you guys I couldn't even make heads or tails of how they were getting their final calculated numbers based on the inputs on the sheet.
If anyone wants to use the google doc I created, the inputs are in yellow (you may have to save your own copy in google docs though). This organized everything much better for me.
https://docs.google.com/spreadsheet/...nc&usp=sharing
Thanks again for all the help!