Hello,
I am trying to work out a deal on a 2018 BMW M5. Working with a local dealer that currently wants too much for the car on their lot so I decided to reach out to a dealer in California with the color and options I want but his lease numbers just are not adding up to me. Here is the info:
MSRP: $121,465
Selling Price: $111,480 (8% discount)
Sales Tax Estimate: $8648.23
Doc Fee: $80
Tire/Battery Fee: $7
Smog Allotment Fee: $20
Vehicle Title/Registration: $984 (his estimate)
Electronic Filing: $20
Fiat Add/County Fee: $7
Balance Due: $121,256.23
Money Factor: .00222 (1% over buy rate!)
Cash Due at Sign: $6000
3 Year/30K mile lease payment: $1399
Are leases in California calculated differently, I noticed he included sales tax estimate up front in all his numbers? What I am also not getting is the CA indicated that the total discount on the vehicle is the 8% above PLUS the $3K in incentives for $12,985 off the vehicle. I asked about the $6K cash down and he indicated that is for the drive off but first payment plus fees is around $2500, where is the rest of the $3500 at??
When I plug the numbers into the lease calculator with $6K in the down payment section I can get to $1432 a month which is not too far off the $1399 they provided. That is keeping their current MF and vehicle sales price of $111,480.
I am looking to lease a 2018 M5 for around $1300 a month paying drive offs only, I know there are deals out there but I am hoping I can work this one out. The drive off cash I don’t get and the MF mark up is crazy. What am I missing here?
Any advice would be greatly appreciated!
Craig