Am i doing it right? :)

[Mickey D]

Ok so the nerd in me cant let it go,

I'm trying to calculate my lease payment on excel but cant get the same numbers as my dealer

MSRP: 66650
Sell price: 63450
Residual: (66650)*.59= 39323
Dep. cost: 63450-39323= 24127
Base payment= 24127/39= 618.64
Finance charges: (24127+39323)*.00145=92
My tax is 8%: (618.64+92)*.08= 56.8
Total payment= 618.64+92+56.8= 769.44

Dealer is showing $855.45

What am i doing wrong?

[JoeyBananas]

Why the .00145 MF?

[Mickey D]

Originally Posted by JoeyBananas

Why the .00145 MF?

They are marking it up. They started with .0017 and brought it down to .00145. However we still didnt agree i told them .0013 or i walk so waiting to hear back.

Ps: i sent Monica ur CA an email and a voicemail but still haven't heard back from her. I live in cali so i dont knw if thr cost shipping the car from jersey will ofset the discount?

[djhex36]

Don't take anything more than .0013 ... I know long beach bmw offered it.. Talk to Khoi at bmw long beach since you are in Cali.

[JoeyBananas]

Originally Posted by Mike335is

They are marking it up. They started with .0017 and brought it down to .00145. However we still didnt agree i told them .0013 or i walk so waiting to hear back.

Ps: i sent Monica ur CA an email and a voicemail but still haven't heard back from her. I live in cali so i dont knw if thr cost shipping the car from jersey will ofset the discount?

She said she was going to be really busy today. She should def get back to you by Monday

[Mickey D]

Originally Posted by JoeyBananas

She said she was going to be really busy today. She should def get back to you by Monday

Cool thanks for the follow up man, i really appreciate it. Im trying to seal the deal this week after my last order fell through.

[M6-Coupe]

Originally Posted by Mike335is

Ok so the nerd in me cant let it go,

I'm trying to calculate my lease payment on excel but cant get the same numbers as my dealer

MSRP: 66650
Sell price: 63450
Residual: (66650)*.59= 39323
Dep. cost: 63450-39323= 24127
Base payment= 24127/39= 618.64
Finance charges: (24127+39323)*.00145=92
My tax is 8%: (618.64+92)*.08= 56.8
Total payment= 618.64+92+56.8= 769.44

Dealer is showing $855.45

What am i doing wrong?

This is not the way they calculate it!!!
The total lease payment is calculated:
Total lease payment = [(Sales price - Residual) + total months *MF*(Sales price +Residual)] + tax
Now if the Mf is 0.00145, tax is 8%, and sales price and residual are what you mentioned; for 39 months lease term the total is :
[63450-39323) + 39*0.00145*(63450+39323)}*1.08 = 32333
and your monthly payment (39 months) is $829.05
Also you have to pay the other fees like document fee, registration, acquisition,... which is most of the time upfront (part of drive off)
How do you pay those fees?

[Mickey D]

Originally Posted by M6-Coupe

This is not the way they calculate it!!!

The total lease payment is calculated:

Total lease payment = [(Sales price - Residual) + total months *MF*(Sales price +Residual)] + tax
Now if the Mf is 0.00145, tax is 8%, and sales price and residual are what you mentioned; for 39 months lease term the total is :
[63450-39323) + 39*0.00145*(63450+39323)}*1.08 = 32333 and your monthly payment (39 months) is $829.05
The difference of $26.39 per month is the total of $1029.
How did you pay the fees (document,... and registration)?

Yes you are right, i was able to figure it out. I believe the difference is for the bank fee and doc fees. Only paying first month and tags everything else in rolled in the monthly payment.

[Liquid2.0T]

I get $829 as well, tax in.

[mul1gan]

Is this with your state sales tax rolled into the lease payments?
wouldn't this mean that you are paying interest on the sales tax or is it better ro roll in your taxes?

thanks