I recently lease 2016 bmw 328i for $245 (MSRP of $39600).
$560 down + 7 MSD $1750.
it’s with 36 month/ 10k miles
Also, please correct me if i’m wrong.
The dealer told me that i’m not paying any $ down, but in the “Capitalized cost reduction section” from the contract, the amount was $1560, he said $1k is due to BMW loyalty credit, and $560 is like taxes and etc??
I thought it was BS, but since the deal was good, i just passed it.
So I was thinking that $560 is the downpayment??? please correct me if wrong.
thanks all.
please let me know if that lease deal is good or bad.
thank you!
That fees and taxes of only $560 seems reasonable to me - you can typically determine the breakdown from the contract. I can’t recall seeing payments this low with minimal out of pocket. Great job!
Leasefan, to clarify,
there are fees and taxes in addition to that amount.
I paid drive off of $4250 which includes $1560 cost reduction (not taxes and fees).
But I’m asking that he said there’s no down payment and that cost reduction (which is downpayment) of $1560 is due to $1k bmw loyalty but i dont know where that $560 came from, which i paid…
does anyone know??
please help!!
If he paid $4250 drive off of which $1560 is cap cost reduction(isn’t that just another name for down payment if it came out of his pocket) and $1750 in MSD what does the additional $940 cover?
From your initial post, I understood your only drive off was $560 plus the $1,750 MSD. If you paid drive off of $4,250 - the difference of approximately $2K is likely capital cost reduction. If you post your contract w/o name/address, people on this forum will be able to provide more insight.
If you consider your out of pocket on a monthly basis (4,250 drive off less $1750 refundable deposit)/36 month term, it effectively is $63/month - combined with your payment of $245 works out to $308/month, which I assume includes sales taxes. Around $300/month still seems like a pretty strong deal for a new 328. I assumed the $4,250 included the first months payment.
If this was a brand new untitled car with like 9 miles great job. If this was a demo deal you could’ve done much better and gotten an actually optioned car. This doesn’t even have a backup cam on a 2016 car!
Seems like Vhooloo is the only one who understood correctly.
Here is the list:
Cap Cost red. - $1560
first month pay - $245
MSD - $1750
titles and fees - $102 + 327 +7+925+29+140+80+83
loyalty - $1000 which reduces cap cost reduction amount.
Total drive off - $4250.
So basically i paid $560 out of pocket other than fees and taxes i believe.
Please advise this is a good deal, and this was a new car with 15 miles on it.
