[gqxxflip]

Hey guys, just leased a new 2014 328xi, which is my first BMW ever . Finance guy said I "really hit them hard." Was he just acting or did I get a good deal? Please rate it thanks!

2014 328xi $39,300.00
Mineral White/Black interior $550.00
Driver Assistance Package $950.00
Lighting Package $900.00
Premium Package $3,100.00
Technolgy Package $3,150.00
Heated Front Seats $500.00
Black Kidney Grilles $173.00
Destination and Handling $925.00
MSRP $49,548.00

Invoice 45k? Not sure
Rebate $2,000.00
Selling Price $43,999.00

Fees (all rolled into monthly payments)
Doc fee $499.00
Sales tax VA (4.2%) $1,868.92
Acquisition fee $725.00
Title/License $103.50
Online System $10.00
Selling price plus fees $47,205

Recent Grad discount $999.99
Adjusted Cap. Cost $46,205.43
Residual Value 59% $29,233.32
Depreciation amount $16,972.11
Total Rent Charge $2,200.05 (rolled into monthly)
Total of base monthly payments $19,172.16

Lease Term 36 months 15k/yr
Monthly Payments (fees rolled into) $532.56
7 MSD total $3,850.00
Money factor 0.00081

Drive off $4,382.56

[gqxxflip]

Please? Could anyone please rate this deal?

Sure I know the deed has already been done so it wouldn't matter if it was a bad deal or not. But as it was my first time ever leasing a car I'd like to evaluate how I did at the dealership.

[nathan.r007]

Originally Posted by gqxxflip

Please? Could anyone please rate this deal?

Sure I know the deed has already been done so it wouldn't matter if it was a bad deal or not. But as it was my first time ever leasing a car I'd like to evaluate how I did at the dealership.

So, The order for my 2014 328i M-sport had a residual of 61%, same money factor as yours with 7 MSD's, a similar MSRP of $49,600 or closer to 50k and had the college grad discount and everything but literally a payment of $100 less than yours... something much closer to $430 a month.

I have been seeing payments of 335i's in the $530+ a month range... so not sure how good a deal you got.. I think the biggest difference here is the residual I suppose.

[gqxxflip]

Originally Posted by nathan.r007

So, The order for my 2014 328i M-sport had a residual of 61%, same money factor as yours with 7 MSD's, a similar MSRP of $49,600 or closer to 50k and had the college grad discount and everything but literally a payment of $100 less than yours... something much closer to $430 a month.

I have been seeing payments of 335i's in the $530+ a month range... so not sure how good a deal you got.. I think the biggest difference here is the residual I suppose.

That's not the only difference. States such as Arkansas, Illinois, Maryland, Oklahoma, Texas and Virginia charge sales tax on the entire price and not only on the monthly payments. The difference between a 4.2% sales tax on $44,498 (sales price + processing fee) and 4.2% on total monthly payments of $19,172.16 is $1,063.69. That's an extra $29.55 a month or so I think.

Since this is my everyday driver I needed the 15k. Heck, I might even drive more than 15k/yr, but I'll get a better estimate as each month passes.

So are you saying my total cost of this lease should be somewhere around $15,480 instead of $19,172.16 for a car with an MSRP close to 50k?

[nathan.r007]

Originally Posted by gqxxflip

That's not the only difference. States such as Arkansas, Illinois, Maryland, Oklahoma, Texas and Virginia charge sales tax on the entire price and not only on the monthly payments. The difference between a 4.2% sales tax on $44,498 (sales price + processing fee) and 4.2% on total monthly payments of $19,172.16 is $1,063.69. That's an extra $29.55 a month or so I think.

Since this is my everyday driver I needed the 15k. Heck, I might even drive more than 15k/yr, but I'll get a better estimate as each month passes.

So are you saying my total cost of this lease should be somewhere around $15,480 instead of $19,172.16 for a car with an MSRP close to 50k?

Well so the tax makes sense but that's only a $30 difference, mine is also 12k miles a year, so that's a few extra bucks a month too... But that's at least a $50-$60 difference than mine so not sure... Maybe a few others can chime in on your deal.

[gqxxflip]

Originally Posted by nathan.r007

Well so the tax makes sense but that's only a $30 difference, mine is also 12k miles a year, so that's a few extra bucks a month too... But that's at least a $50-$60 difference than mine so not sure... Maybe a few others can chime in on your deal.

hmmm so $30 + $50-$60 would make it $80-$90 more a month, which is close to your $100 difference. What was your selling price (without fees and taxes) or better yet your adjusted cap cost?

[nathan.r007]

Originally Posted by gqxxflip

hmmm so $30 + $50-$60 would make it $80-$90 more a month, which is close to your $100 difference. What was your selling price (without fees and taxes) or better yet your adjusted cap cost?

I won't have all the details and everything until I get my lease contract since it's subject to change to the best program between January 31st and my pickup in May. So I can let you know when that time comes but otherwise I guess the difference here is the tax and the extra miles a year + or - a few bucks.

[fecurtis]

Sounds about right since you're doing the 15,000 miles/year thing.

It looks like a fair deal to me.

[gqxxflip]

Thanks guys for your input.

I don't know if this is relevant, but I did the calculations to see how much it would have cost me if I bought the car to own rather than lease for 36 months. Here's what it would look like if I took a 60 month loan out (I wouldn't be able to pay it off in less time) with a 1.99% APR.

MSRP: $49,548
Negotiated price: $43,999
Selling price with tax, title, tags, fees, grad bonus: $46,205.43
5 yr loan at 1.99% ARP with USAA
10% down: $4,620.54
Principle is now $41,584.89

Monthly is $728.71 for a $41,584.887 loan

36 months of $728.71 = $26,233.59

Cost of car at 36 months = $4,620.54 + $26,233.59 = $30,854.13

Amount of loan left to pay off = $17,131.61 or $16,431.32
Total interest paid: $1,780.21 or $1,808.62

Car’s predicted worth after 36 months = $29,233.32 (59% residual)

$29,233.32 - $17,131.61 = $12,101.71 money returned when sold
$29,233.32 - $16,431.32 = $12,802.00 money returned when sold

Cost of car for 36 months $30,854.13 - $12,101.71 = $18,752.42 true cost
Cost of car for 36 months $30,854.13 - $12,802.00 = $18,052.13 true cost

Total cost of a 36 month lease = $19,172.16 (without $350 disposition fee)

I lose at least $419.74 - $1,120.03 on leasing compared to owning assuming the residual value is on point at 36 months, AND I am able to sell it for at least that much.

[ssmtsx]

Did you get the usaa rebate when you bought your car? I was able to get almost $7k off my sticker price using their buying service. Where in VA are you?