Quote:
Originally Posted by oclor
Someone please help me figure this out. This would be my first ever car. This is the quote that I'm getting, but the monthly payment is just not making sense to me since when I input it into a lease calculator I get a much different number. Any help would be extremely appreciated!
Price you were quoted: $40,475 (Through USAA)
Dealer Name/ Location: BMW of Macon, Macon GA
Year/Model: 2013 328i sedan
MSRP: $42,775
Invoice: $39,905
Options/Packages: Technology Package, Driver Assistance Package
Negotiated Price: $40,475 - $750 conquest credit - $1500 USAA Rebate ($2250 total rebate)
Other Pertinent Information:
-36 months at 10k a year residual is 65%
-Money factor buy rate 0.00127
-Acquisition fee at cost $725
-Doc fee $599
-Georgia Lease
So with $2750 down for a total of $3859, Payment is $386/month
I am very new to this so if someone could explain to me how he arrived at that number I would really appreciate it.
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based on this I plugged it into a lease calculator and got 365 with 3115 due at signing. Not sure if I have al the fees right though.
Same thing happened to me and the difference was the dealership had a 500 dollar dealer fee baked into their calculation.
Have you thought of doing multiple security deposits instead of a down payment? Thats what I did and here is an example
Sale price
40475
Fees 1324 (acquisition plus doc fee)
2250 rebates
money factor bought down with MSDs to .00078
3559 due at signing and payments of 409 a month. However, you will get the 3150 used as security deposits at the end of the lease.
I am a financial advisor and I ran the numbers on these MSDs and the rate of return equates to an 8-10% tax free and risk free (unless BMW FS goes bankrupt) per year for the lease.
You might pay more per month but you get that money back at the end of the lease. Definitely worth looking at.
As for your problem though I can almost assure you their numbers include a dealer fee. Considering they have a 599 doc fee, you should argue that there shoudnt be a dealer fee on top of that.