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Originally Posted by AGS
Quote:
Originally Posted by Greer
Very Mad, Is this Dealer marking up the lease and not disclosing it to me?
I am doing European Delivery in a couple of weeks and a few members on this board are saying these numbers do not add up from the dealer.
I have an 820 credit score and I am not trading in another car. Here are the lease numbers:
2019 M5 COMP. Selling price: $116,395 $7000 total down 36mo lease with 10k miles per/year $1888 plus tax $2068 include tax. (residual 51% at 10k miles per yr. money factor 0.00216 because of the ED). The options are Executive Package, Bowers, M Driver's Package.
Need assistance ASAP. Thx.
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Quote:
Originally Posted by Greer
Yes, it is European Delivery MSRP which is: $116,395. I did not ask for wheel protection or any other protection fees to be included. The numbers still seem high, what am I missing?
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I reran my calculations using $116,395 as both the MSRP and the selling price. Using a residual value of 51%, the money factor of 0.00216, 8% sales tax and $7,000 down, I'm estimating a payment of $2,061. Pretty close to the $2,068 the dealer quoted you. Since the MSRP is lower and therefoe the residual value is lower, you need to use more of the money down as a cap cost reduction. The phantom $1,500 I referenced/inquired about previously is now accounted for as additional cap cost reduction.
Quote:
Originally Posted by Greer
Hi Emmfiv,
Can you please send me a new spreadsheet with the money factor of .00196 and me putting down $7,000 at lease inception. My email is: Genebush@gmail.com
Thanks, Gene |
If I rerun my calculation changing only the MF to .00196 the payment drops to $2,025. |
Lease should be calculated based on US MSRP - ED MSRP should be the selling price. ED MSRP is basically a discounted selling price but all leases go with US MSRP to calculate residual etc.