In Reply to: Jon Shafer: 528i for $449/month @ Weatherford BMW! posted by Karl Zurich on August 12, 1999 at 01:33:01:
If you do the math, using the 528i as an example, they are offering the following terms:
Cap Cost $39,470
Cap Cost Reduction $2500
Mo. Payment $449
Lease term 36 Mo
Milage 30K (This is quite low, and you usually pay about $.15 per mile over this at lease end, unless you purchase the car.)
Residual Factor 67%
Money Factor .00138 (This is very good)
Total due at signing $3379 (Cap reduction + deposit + 1st months pament)
The catch is you have to pay the following fees up front, IN ADDITION to the "Due at signing" amount listed above:
$3,256.28 Sales Tax (@ 8.25% CA)
$700.00 Licence Fee (Approximate)
$100.00 Doc Fee (Guesstimate)
$540.00 Luxury Tax
$250.00 Acquisition Fee (Guesstimate)
$250.00 Disposition Fee (Guesstimate)
So you must come up with over $8.5K cash up front to lease this car!
If you roll all of the above fees into the lease by adjusting the cap. cost, your monthly payment would be about $491 and your total amount due at siging would be about $3441.
Really not to bad a deal, but remember this is for no option car!! And at the end of the 36 months you own squat, excpt for your $450 security deposit refund.
Also, they are charging full MSRP for this car! If you were to buy it you should be able to negotiate MSRP - $1500 without much trouble.
Assuming you get MSRP -$1500, If you were to buy this car the terms might be approximately:
Down payment = $8,500
Amount Financed = $42,407 (Includes Sale price and all taxes and fees)
i = 7.5%
n = 60 mo
Payment = $679 /mo
: what's wrong with this picture? Jon's response to an earlier posting seems to indicate that this is too good to be true ... can somebody pl clarify?